About Futu NiuNiu

Previously, we introduced Futu Moomoo, Futu’s investing platform built for the US market. Registration requires an SSN, and earnings are taxed under US tax rules. But if you do not have an SSN, you can still use another product under Futu Securities International—Futu NiuNiu—to trade US stocks with Chinese identification. Futu Securities is a licensed corporation recognized by the Hong Kong SFC (CE No.: AZT137) and a participant of the Hong Kong Stock Exchange. It holds licenses for Type 1/2/4/5/7/9 regulated activities and operates in strict compliance with the Securities and Futures Ordinance to provide clients with safe and reliable securities trading services.

The platform features of Futu Moomoo and Futu NiuNiu are largely the same. The main differences are trading fees, account-opening bonuses, and applicant eligibility. In short:

  • Moomoo: You must be a US Person (Resident Alien also qualifies) to apply, and an SSN is required. There are no trading fees. You must file taxes according to US tax requirements.
  • Futu NiuNiu: Suitable for Non-residents in the US and people without an SSN; residents of Mainland China and Hong Kong can apply. You can apply using a Chinese ID card. There are trading fees. In China, there is no capital gains tax.

In addition, Futu NiuNiu also supports A-share trading, so having US stocks, Hong Kong stocks, and A-shares all in one platform is a nice plus.

Account Opening Bonus

If you register for Futu NiuNiu through our site now, you can get additional rewards (the registration page does not show the bonus; the current offer has been confirmed with Futu marketing staff).

Rewards depend on your account-opening identity. Currently, the bonus for Mainland China users is:

  • 【Commission-free】180 days of commission-free Hong Kong stock trading, with the option to continue commission-free trading later through commission-free seeds
  • 【Free stock】With net deposits (funding or transferred positions) of HKD 20,000 or USD 2700, you will receive a 3-day 15% annualized fund yield voucher + 1 lucky draw chance, with a 100% chance to win. Prizes may include stock cards for Tencent, Alibaba, Meituan, Xiaomi, Tesla, and more.

The rewards for users in Hong Kong and other regions are:

  • 【Commission-free】Successfully open Hong Kong stock and US stock trading online and get lifetime commission-free Hong Kong stock trading
  • 【Free stock】Successfully open Hong Kong stock and US stock trading online and get 1 share of Twitter stock

Account Opening Process

The information required to open an account is basically: ID information, bank card information (used to assist public security identity verification), and then a few account preferences of your own (such as margin or cash account). You can follow the guide below. It generally takes just over 10 minutes, and the system will automatically review your information.

Currently, Futu only offers 3 ways to open an account online:

  • Mainland China ID card + Mainland China bank card
  • Other countries’ identity documents + Hong Kong bank card
  • US-related documents (this directly opens a Futu Moomoo account)

The bank card is used to assist with identity verification. If you do not meet one of these 3 conditions, you can only open an account offline by having a lawyer, accountant, or JP witness the process, and then mailing the account opening form to them.

After the account is opened, both Hong Kong stock and US stock trading functions are enabled at the same time.

If you have questions about account opening or funding, you can add the following WeChat contact for help (mention Meika 101).

  • Futu Axue (WeChat ID: ggfutunn)

Funding Your Account

If you already have a US or Hong Kong bank account, you can transfer money directly into your Futu account. Since these are offshore assets, they are not subject to Mainland China foreign exchange controls. For details, see:

For example, if you have a US bank account, you can wire money directly to Futu’s bank account and then fill in your own information. (The screenshot below is from 2020.11.24; for the exact account name and address, please refer to the wire instructions shown in your account.) Note that the name on the sending bank account must match the name on the Futu account, or the transfer may be returned.

If you do not have a US bank account, you can choose to download the velo app to open an account online (affiliated with East West Bank), then transfer money from within China to East West Bank, and then transfer it to your Futu account using the method above (you can refer to this link). Please note that transfers from within China to velo are subject to foreign exchange controls, with an annual limit of USD 50,000 per person.

Futu NiuNiu Features

Since it is 95% similar to Moomoo, we will reuse part of the Moomoo feature overview here.

Basic Features

Key highlight: free Level 2 market data

Here are some other features of Futu NiuNiu:

  • Supports pre-market and after-hours trading, as well as gray market trading
  • Margin accounts available, with both long and short trading
  • Clear Day Trade alerts
  • Many chart and technical indicator options, including commonly used MACD, KDJ, EMA, BOLL
  • Extensive company data, including news, ratings, financials, and more
  • Supports stocks, ETFs, and options, but does not support cryptocurrency/bond/CD trading
  • Offers Paper Trade simulated trading, convenient for beginners to practice
  • Available on Android, iPhone, Windows, and Mac after registration

Options Trading

Moomoo recently updated its APP with richer features related to options trading. Here’s an example ↓

US IPO Subscription Feature

It currently supports US IPO subscriptions (mostly Chinese concept stocks), but does not support Hong Kong stock or A-share IPO subscriptions. You need to open an additional Futu inc account.

Trading Fees

Unlike Moomoo, Futu NiuNiu does charge certain trading fees. The fees for trading US stocks are as follows:

Detailed fee information is below.

You can check other trading fees on the official website:

Tax Issues

For residents of Mainland China, there is no capital gains tax, so there is no need to file taxes. The US also does not tax Capital Gain for nonresident investors. The only tax withheld is on dividends. For residents of Mainland China, the default withholding is 10%; for Hong Kong and other regions, it is 30%.

Account Opening Links

  • Futu NiuNiu account opening link (Mainland China identity) (180 days of commission-free Hong Kong stock trading, with the option to continue commission-free trading later through commission-free seeds; net deposits (funding or transferred positions) of HKD 20,000 or USD 2700 earn a 3-day 15% annualized fund yield voucher + 1 lucky draw chance, with a 100% chance to win stock cards for Tencent, Alibaba, Meituan, Xiaomi, Tesla, and more)
  • Futu NiuNiu account opening link (Hong Kong identity and other regions) (Successfully open Hong Kong stock and US stock trading online and get lifetime commission-free Hong Kong stock trading; successfully open Hong Kong stock and US stock trading online and get 1 share of Twitter stock)