How to open an account and how to deposit and withdraw funds - moomoo Securities
What is Moomoo Securities
Moomoo (Moomoo) Securities is a group company of “Futu Holdings Limited,” which is an American NASDAQ listed company. The number of downloads worldwide has exceeded 21 million. It landed in Japan in October 2022. Handling of US stocks began in 2023/9, trading of new NISA accounts began in 2024/1, and handling of Japanese stocks began in 2024/3. The MooMoo app, which is a function unique to foreign securities companies, has a unique SNS function. Of course, you can view information about various investments, and you can also interact with your favorite influencers. There is also a demo trade function, so it might be a good idea to first experience demo trading and then actually invest if you are even more interested.
I also want to read:Explain how to use the moomoo (moomoo) securities app
1. [How to open an account - Moomoo Securities]
You can apply to open a Moomoo Securities account from the Moomoo Securities app or website. First, you'll need to create an account, so if you're using the moomoo service for the first time, please create an account (of course, it's free). Even if you just create an account, you can view not only charts of US stocks and Japanese stocks, but also a wide range of useful information such as news information, checking portfolios of famous investors like Warren Buffett, and SNS functions, so I recommend just creating an account first.
The screen above is the screen for applying when opening an account. After logging in with an account created in advance, you can apply by following the screen. The account application is completed in 3 steps.
Confirmation of necessary items
We will confirm your place of residence and confirm that you are not under 18 or 80 years old.
Entering customer information
Enter your name, address, occupation, place of work, confirmation of insider registration, asset information, purpose, investment experience, etc. This is information required for general securities account applications.
Choosing a tax payment method
Here you will select the account type. We recommend a specific account (with withholding tax). When I selected this, it occurred due to a transaction with this account
Since income tax and residence tax will be withheld, it is possible to eliminate the need to file a final return.
Also, you can open an NISA account with MooMoo Securities. If you are setting up for the first time, select “Start for the first time.” Even if you have already opened an NISA account, it is possible to switch securities companies, so in that case, select “Transfer from another company.”
After that, when you confirm each agreement and stipulated agreement, you will proceed to the identity verification document upload screen, so once the upload is complete, the application is complete. If there are no deficiencies in the application details, the opening will be completed on the next business day at the earliest. (In the case of an NISA account, it takes about 1 to 2 weeks) Since the application is completed in as little as 5 minutes, you can easily apply with just a smartphone. However, please note that it may take some time for account opening to be completed depending on the application status for opening an account.
Frequently asked questions about opening an account
Q. What documents should I upload to verify my identity?
A. Please upload your driver's license or Individual Number Card (for foreign customers, a residence card or special permanent resident certificate).
However, when using identity verification documents other than those listed above, you can complete the document upload procedure from “identity verification by simple registered mail without forwarding required” and open an account in about 1 to 2 weeks. Also, after opening an account, we will send you a postcard for the identity verification procedure by simple registered mail that does not require forwarding, so be sure to receive it. After receiving it, please verify your identity using your smartphone.
An advantageous program for opening an account
● New account opening completed (2024/4/1-)
Transaction fees for US stocks will be free for 2 months for all those who have completed opening a Moomoo securities account.
2. [Deposit Method - Moomoo Securities]
There are 2 ways to deposit money to Moomoo Securities.
First: Real Time Deposits (Instant Deposits)
Features: Deposits are reflected in as little as 5 minutes, and deposit fees are free.
Compatible financial institutions: 8 banks: Mitsubishi UFJ Bank, Sumitomo Mitsui Bank, Mizuho Bank, PayPay Bank, SBI Sumishin Net Bank, Seven Bank, Japan Post Bank, and Rakuten Bank. Since it is compatible with megabanks and major internet banks, it is basically advantageous to deposit money from this financial institution.
Notice: The lines that support real-time deposits areMitsubishi UFJ Bank and Mizuho Bank were recently added.
Second: Deposit by bank transfer
Features: minimum about 10 minutes
The transfer will be made to the bank account designated by Moomoo Securities (currently PayPay Bank), but the transfer fee is the amount specified by the financial institution you are using, so please check.
As for the deposit method, you can select the desired deposit method from Account → Deposit.
Deposits in foreign currencies such as dollars are not accepted. You can only deposit yen.
※About the maintenance time for real-time payments
Each bank may perform regular system maintenance for real-time deposit services. Please note that real-time deposit services are not available during bank system maintenance. You can check the maintenance hours of each bank on the Moomoo Securities website.
Frequently asked questions about deposits
Q. The transfer destination for “real-time deposit” and “bank transfer” is different.
A. The “real-time deposit” transfer destination is a transfer destination dedicated to real-time deposit, and is different from the “bank transfer” transfer destination. When making real-time payments, there is no need to enter the transfer address yourself, and the transfer address is automatically displayed. When depositing directly from internet banking services, counters, ATMs, etc. other than partner financial institutions, please do not enter the bank account for real-time deposits. If the deposit is made directly to the bank account for real-time payments, the deposit will not be reflected. If you made a direct deposit by mistake, please contact customer service.
A great campaign to complete your deposit
● New payment completed (2024/4/1-)
As for the benefits, as shown in the table above, Japanese stocks and US stocks are all stocks that everyone knows. The benefits you can get for deposits of 10,000 yen or more and deposits of 300,000 yen or more are different, so detailsCampaign pagePlease check it out.
3. [Withdrawal Method - Moomoo Securities]
When making a withdrawal, select “Account” → “Other” → “Withdrawal”.
If you haven't registered a bank account you want to withdraw to, you'll need to register it first. After entering the withdrawal amount, SMS verification will be sent to the registered mobile phone to confirm your identity. Enter the number you received and the procedure is complete.
As for the progress of the withdrawal process, you can check the current status from the deposit and withdrawal history.
If there is an error in the registered bank account information, it is possible to tap “Processing” and complete the cancellation procedure until 14:00, which is the deadline for canceling withdrawals. If it's past 14:00, you won't be able to cancel your withdrawal yourself. If the transfer destination is different, the funds will be returned to the securities account on the day the payment is received. After that, you can change the withdrawal account and proceed with the withdrawal procedure again.
Withdrawal fees are free up to 5 times a month. After the 6th session, the above fees will be charged. (Withdrawal errors are also counted once.) Also, withdrawal fees will be deducted from the withdrawal amount. On the Moomoo Securities app, there is an indication that the payment will arrive within 1 to 3 business days.
Withdrawal FAQs
Q. Why can't I withdraw my money even though the stock delivery date has passed?
A. The following are possible reasons why withdrawal capacity is not displayed even though the delivery date has passed.
1. If the sale price is held in dollars
If it remains in dollars, it won't show up in yen withdrawal balance.
If you exchange dollars to yen yourself, the remaining withdrawal capacity for yen will be displayed.
2. When the delivery date of automatic exchange (dollar → yen) is affected
When the automatic exchange setting is turned on, US stocks are automatically exchanged for yen after sale.
*The exchange rate determined by our company after 10:00 the morning Japan time on the local contract date
Pattern (1) When automatic exchange settings are turned on before selling US stocks
The exchange will be automatically made after 10:00 the next business day after sale.
After US stocks are sold, they will be reflected after 10:00 a.m. the day after the local delivery date.
Pattern (2) When automatic exchange settings are turned on after 10:00 the next morning Japan time after selling US stocks
Starting from the day you turn it on, the exchange will be automatically made after 10:00 a.m. the next business day.
Since automatic exchange delivery takes 2 business days (T+1), yen delivery is slower than pattern (1).
services:A great referral program for MOOMOO SECURITIES is underway!
●Referral Program (2024/4/1-)
The person who introduced it:
invite buttonTap to share the link.
Once the referred person opens an account and meets the specified conditions, they can always receive an Amazon gift card worth 20,000 yen.
The person who was introduced
Tap the link that was sent to you.
If you open an account with Moomoo Securities and meet the specified conditions, you can always receive 4 or more popular stocks as gifts.
