To close your Moomoo account, you need to sell all your positions, withdraw your cash so the account balance hits zero, and then contact Moomoo’s support team to request the closure. The process is straightforward, but a few prerequisites need to be handled first or the request will be denied.
What to Do Before You Request Closure
Moomoo requires two things before it will close a brokerage account: all positions must be closed, and your account must hold zero assets. That means you need to sell every stock, ETF, and option you own, then withdraw the resulting cash balance to your linked bank account.
Keep in mind that stock trades take one business day to settle (known as T+1 settlement). Options settle the next business day as well. If you sell everything on a Monday, the cash from those trades won’t be fully settled until Tuesday. You won’t be able to withdraw unsettled funds, so build in at least a couple of business days between your last sale and your withdrawal request. Once the withdrawal clears to your bank, which can take an additional one to four business days depending on the method, your account balance should read $0 and you’re ready to proceed.
If you hold fractional shares, make sure those are liquidated too. Even a few cents worth of stock or a small leftover cash balance from a dividend payment can prevent the closure from going through.
Transferring Instead of Selling
If you’d rather move your investments to a different broker without selling them, you can initiate an ACAT transfer (the standard system brokers use to move securities between firms). Moomoo charges $75 for a partial or full outbound ACAT transfer, which is in line with what most brokers charge. You’d typically start this transfer from the receiving broker’s side by submitting a transfer request with your Moomoo account number. The process usually takes five to eight business days.
An ACAT transfer lets you avoid selling your holdings and potentially triggering capital gains taxes. Once every asset has transferred out and any remaining cash is withdrawn, your Moomoo account balance will be zero and you can request closure.
How to Submit the Closure Request
Once your balance is at zero, contact Moomoo’s customer support to request that the account be closed. You can reach them through the in-app chat feature or by emailing their support team. There is no self-service “close account” button in the app or on the website, so you’ll need to go through a support representative. Have your account number handy and be prepared to verify your identity.
Moomoo does not charge an account closure fee, and there are no annual fees or inactivity fees, so there’s no financial penalty for leaving the account open while you wind things down.
Tax Documents and Data After Closure
Even after your account is closed, you can still log in with your existing credentials to access tax documents and account statements. This is important because you’ll need your 1099 forms for any year in which you had taxable activity, and those forms are typically available in February of the following year. If you close your account in the middle of the year, you’ll still need to log back in the next February to grab that final 1099.
Moomoo retains all account information for six years after closure, in line with regulatory requirements. Your personal data, trade history, and tax records will remain on file for that entire period. The company will not delete your information during those six years, even if you ask, because financial regulations require them to keep it.
Timing the Closure
If you’re closing the account near the end of the calendar year, consider waiting until January. Closing mid-December and having trades settle across the year boundary can create minor headaches with tax reporting. Similarly, if you have any pending dividends or corporate actions (like a stock split), wait for those to process before liquidating. Pending transactions that arrive after you’ve zeroed out the balance can reopen activity on the account and delay the closure.
For most people, the entire process from first sale to confirmed closure takes about one to two weeks, assuming trades settle normally and the cash withdrawal goes through without issues.