Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:04/16/2025

  Type:Billing Issues
  Status:

  UnansweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  They make it impossible to withdraw funds and close the account. I clearly had a linked bank account to get the money in, but they disconnected it when I said I wanted to withdraw the funds. Then they say you have to download and install the app on the phone, but the phone app also won't allow you to relink a bank account and withdraw funds. I simply want them to cut a check and close the account down. They insist you must link a bank account, and won't facilitate that, and they are not trustworthy.

• Initial Complaint

  Date:03/28/2025

  Type:Product Issues
  Status:

  UnresolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On March 27, 2025, I requested $50,000 withdrawal from my account, to be transferred by ACH to the same bank account from which I had made deposits. This was NOT my first withdrawal.The company responded: "To proceed with your withdrawal request, please verify your identity in the next 5 days. To complete this step, please go to Messages > To-dos in the app."Why do they suspect that someone else might be requesting the return of money to MY bank account?I have exchanged MANY email messages with them about this. Essentially, they refuse to return my money unless I perform a series of steps using a smartphone. I have never owned a ************* order to comply with their (absurd) demand, I spent many hours configuring a computer to run Android apps in an emulation program. I jumped through hoops until getting to the point at which they wanted a livestreamed picture of me. So far, every attempt to do so has crashed the computer.Evidently, the company intends to confiscate more than $54,000 rather than return it to the same account from which they have been quite satisfied to receive deposits.

  Business Response

  Date: 03/31/2025

  Hello, sorry to hear about your issue or concern. Unfortunately, we cant fully address customer or account-related issues on this platform. Please contact us directly through our official channelseither via the APP (Me >Customer Service), by emailing ********************************************************************************************* by calling us at 888-721-0610so we can look into this more thoroughly and help ensure you have a positive experience.

  Customer Answer

  Date: 03/31/2025

   
  Complaint: 23129865
  
  I am rejecting this response because:

  Your comment is nonsensical. As you are well aware, I can't contact you on the mobile app because I don't own a smartphone. And you have refused to respond to my email. That is precisely why I've been forced to seek help from the BBB.

  I'm not going to speak to you people on the telephone, as you can not be trusted and I would have no record of the conversation.
  
  Sincerely,
  
  *** ********

• Initial Complaint

  Date:03/14/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  MooMoo makes it impossible to close an account once it's opened, and they siphon money directly from your bank account. They are thieves and liars, and this should be criminal.

  Business Response

  Date: 03/15/2024

  Hello ***********,
  In order for us to close the account, the deposit you processed has to be settled. Once the deposit is settled, you will need to withdraw the funds and we will be able to close the account. If you put a stop on the deposit, we will need to wait for your bank instructions and then we will be able to close the account. You can contact us at ************** if you ***** further questions. 
  MFI

  Customer Answer

  Date: 03/15/2024

   
  Complaint: 21428355
  
  I am rejecting this response because: This is just a generic support script, and does not settle my complaint
  
  Sincerely,
  
  ***************************

  Business Response

  Date: 03/25/2024

  Hello ***********, 

  We attempted to call you to help you close the account but the call was disconnected on our client services agent. Please contact us if you would like for us to close your account. There is still a balance in the account and we won't be able to close it unless you withdraw the amount. Thank you. 

• Initial Complaint

  Date:01/26/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  In June, 2023 I referred my friend *************************************** who opened a moomoo account using my referral link and satisfied the terms.However, I did not get the $300 referral bonus still.I sent an email to moomoo. ******************* from customer service reached out to me and told me that I have nothing to worry and that she will issue a credit after my referral ******** reaches out to them.******** did reach out to moomoo, but they did not issue the credit. I sent another email to ****************************** reached out to me and tole me that the bonus was not issued due to security concerns which he did not elaborate and stopped responding to my emails.Request moomoo to issue the $300 credit immediately as promised.

  Business Response

  Date: 01/29/2024

  ************, 

  We found out that the IDs related to the accounts, used the same device to participate in our promotion.  And according to our terms and conditions , we'll suspend this eligibility for participating in the promotion. For more information look over this link . *****************************************************************;

   

  Customer Answer

  Date: 01/29/2024

   
  Complaint: 21178422
  
  I am rejecting this response because:

  my referral opened the account using my internet. Its not fair that you are rejecting because it come from same IP.

  
  Sincerely,
  
  ***********************************

  Business Response

  Date: 02/09/2024

  In looking into this further, it was determined that the same device was used to participate in the promotion, thus, the referral in question was deemed ineligible. Below is an excerpt of the terms and conditions for reference:

  8.7 Each user is limited to using one account, one mobile phone number, and one device to participate in promotions. Abnormal behavior (including but not limited to using mobile phone device emulators and artificially modifying mobile phone device numbers) may automatically disqualify or suspend users' eligibility for participating in the promotion.

  For more information you may visit www.moomoo.com/us and go to the *********** > Promotions > Current Promotions > Terms and conditions Referral Promotion.

  Customer Answer

  Date: 02/09/2024

   
  Complaint: 21178422
  
  I am rejecting this response because:

  The rule says each user is limited to one.

  My referral is not the same person but a different person who used the same computer. Moomoo is deliberately not paying the bonus.

  I am going to close my account soon with them
  
  Sincerely,
  
  ***********************************

• Initial Complaint

  Date:10/27/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Moomoo claims they surrendered ALL of my funds to the state.When I contacted my state, they had nothing unclaimed.They didnt contact me, nothing! They lied about contacting me and blocked my account from being able to withdraw I want my money from my account, $518.20

  Business Response

  Date: 11/02/2023

  We contacted the client multiple times before allocating the funds to the state. The funds were submitted to the state on 10/27 and the client will need to wait for them to process them in order to receive them. The funds are out of our hands and the state is the only one that can help the client at this moment. 

  Customer Answer

  Date: 11/02/2023

   
  Complaint: 20789980
  
  I am rejecting this response because:

  You told me you contacting me about withdrawing these funds BEFORE this happened, but you did not contact me.

  I asked for PROOF you contacted me, but you didnt

  I want this investigating and I want to find out who is responsible for taking my balance. I also want to know WHERE my balance is because my state DOES NOT HAVE IT
  
  Sincerely,
  
  *************************

  Business Response

  Date: 11/08/2023

  We contacted the client multiple times including an email sent on 8/30/2023 and a phone call on 10/11/2023. At this time the funds our of our control and the client will need to contact the state. We cannot provide internal screenshots of our systems. 

• Initial Complaint

  Date:09/25/2023

  Type:Service or Repair Issues
  Status:

  UnresolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Moomoo acknowledges that I referred 4 new users below to the platform as part of the Moomoo Ambassador referral program. The following are the user IDs of the people I referred (and noted their deposit date) who each completed the terms of initial deposit for the referral rewards to be provided:71394854 7/10/23 deposit ******** 7/26/23 deposit ******** 7/27/23 deposit ******** 8/28/23 deposit My user ID is ************** many delays and research, Moomoo says their system shows an non-complaint device was used but I had previously completed numerous other referrals that MooMoo paid out the appropriate cash rewards....and nothing about my device use has changed. It seems either MooMoo has faulty systems or just don't want to pay out the referral rewards that I've earned. I no longer have confidence that MooMoo is honoring their referral program, and do not feel comfortable referring more users to the platform due to the poor customer service I have received. While staff have tried their best to resolve my issues, they seem powerless to solve the issues with their systems which are preventing delivery of the rewards I earned. This is a last ditch attempt to see if this complaint leads to involvement of someone who does have the authority to resolve the problems. Thanks for your assistance in resolving this matter.

  Business Response

  Date: 10/04/2023

  Hello Better Business Bureau, 

  Due to finding abnormal activity in the account, including but not limited to using mobile device emulators, and artificially modifying mobile device numbers, the qualifications of the participant in the event were automatically suspended. We provided the following information to the client to inform them of abnormal behavior we found on their device which suspended them from receiving the award.  

  According to the event rules "5. The same user can only participate in one event. The same account /mobile phone number/ same device are all regarded as the same user;
  6. In order to ensure the fairness of the event, the event has a daily upper limit for the rewards distributed, a total event total Users who have the upper limit for distributing rewards and the upper limit for receiving rewards for a single user; if the system detects abnormal participation behavior (including but not limited to using mobile device emulators, artificially modifying mobile device numbers), their qualifications to participant in the event will be automatically suspended; "
   
  In view of your violation. The relevant activity rules [?/?] have been formulated. Therefore, we are unable to issue a reward to you.
  
  Please let us know if you have any further questions. 

  Customer Answer

  Date: 10/04/2023

   
  Complaint: 20649457
  
  I am rejecting this response because I did not violate the terms as Moo Moo states that I did. I believe this is due to system errors on their end. Ultimately, I understand their decision to not provide the rewards for the referrals as they apparently have to way to figure out what went wrong (or do not wish to expend the time and effort to do so). I have to hope their decision is only because of their poor data systems, and not an intentional effort to avoid paying rewards that I earned.   
  
  Sincerely,
  
  *******************************

• Initial Complaint

  Date:01/01/2023

  Type:Customer Service Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Recently, ID verification is required for either depositing or withdrawing funds for the MooMoo app, in the form of selfies + ID.I have uploaded selfies of myself twice with my driver's license. ********************** claims they cannot verify my ID.I have called them and told them that US driver licenses have 'glare' but they do not understand this, thus freezing cash within their app.I would like my money returned, deposited into my bank acct, which MooMoo have all the required information to do so.Thank you,*****************************

• Initial Complaint

  Date:11/24/2022

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I keep trying to change my trading password and everyday it makes me upload a picture of my ID then it does nothing. I Dont get any emails about changing my password. I only get spam mail. Whenever I call it says no one is available to take your call. I Cant do any trading.

  Business Response

  Date: 12/13/2022

  Business Response /* (1000, 5, 2022/12/01) */ ******* (Moomoo Financial Inc.) Nov 29, 2022, 14:18 EST Hi****, We have responded to the client directly to address the issue. Sincerely, Moomoo Financial Inc

• Initial Complaint

  Date:10/24/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  This brokerage account has the worst most difficult to use website I have ever come across. I can put money in my account but cannot withdrawal it or close the account. I have numerous other brokerage accounts which are all easy to use but MooMoo is beyond difficult to understand or use and email communications with them are useless as the fail to understand anything I am trying to tell them. I simply want to withdraw my money and close the account

  Business Response

  Date: 12/01/2022

  Business Response /* (1000, 13, 2022/12/01) */ ******* (Moomoo Financial Inc.) Nov 29, 2022, 14:25 EST Hi BBB, We addressed the issue with the client on November 3rd. Sincerely, Moomoo Financial Inc

• Initial Complaint

  Date:09/20/2022

  Type:Customer Service Issues
  Status:

  UnansweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  9/20/22- financial trading app Moomoo. Financial. I transfered 10,000.00, Into financial trading app Moomoo financial. After the transfer I disconnected and closed the bank account the money was transfer from. And connected a new bank account. There was no notification from moomoo as to this resulting in a 60 day anti money loundering hold on my funds. I was told that would not be an issue that I would be able to wire transfer to the new account however ACH withdrawals would be restricted for 60 days. It has now been six weeks. I have been deprived use of my funds. This has created a great deal of hardship **************************************. MooMoo financial representatives have told me the Anti Money Loundering policy does not apply to withdrawals by wire transfer. Also I am attaching MooMoo financials terms and conditions for wire transfer withdraws of funds. It also is clear that there is no such policy affecting outgoing wire transfers.