Fomo

The standard trading fee is 0.5% per trade. Spot trades cost 0.50% each on every network. On Solana a small-order ladder applies below 190 USDC, and on the other chains you also pay the network fee shown in the quote. Tokens the app marks as low fee cost 0.05%. The perps mode charges 0.05% of position size per trade on top of Hyperliquid's fee and funding. Every fee is shown before you confirm, and the Terms let Fomo change fees at any time.

Sometimes. You sign up with an Apple ID, a Google account, or an email code, and Fomo creates a Solana wallet and an EVM wallet for you through Privy. There is no identity check to open the account or to trade, and the private keys can be exported from Settings at any time. Identity checks sit at the edges: the first withdrawal to a US bank account requires a government ID through Spritz, Fomo's payment partner. The Terms, dated August 17, 2026, reserve the right to require KYC for the perps mode, and the card and Apple Pay providers apply their own rules.

Partly: Spot only, with perps and stock tokens barred. The Terms, dated August 17, 2026, bar residents, citizens, and anyone located in Cuba, the Democratic Republic of Congo, Iran, Libya, Myanmar, North Korea, Sudan, Venezuela, and Yemen, plus the Crimea, Donetsk, and Luhansk regions, any other country embargoed or sanctioned by the US, the UK, or the EU, and any jurisdiction where crypto trading is prohibited. Perps are not offered to US persons, a definition that includes US citizens living abroad, and Robinhood's stock and ETF tokens are also closed to residents of Canada, the UK, and Switzerland. Spot trading has no US exclusion. You must be 18, and using a VPN to get around any of this breaches the Terms.

The Terms, dated August 17, 2026, bar residents, citizens, and anyone located in Cuba, the Democratic Republic of Congo, Iran, Libya, Myanmar, North Korea, Sudan, Venezuela, and Yemen, plus the Crimea, Donetsk, and Luhansk regions, any other country embargoed or sanctioned by the US, the UK, or the EU, and any jurisdiction where crypto trading is prohibited. Perps are not offered to US persons, a definition that includes US citizens living abroad, and Robinhood's stock and ETF tokens are also closed to residents of Canada, the UK, and Switzerland. Spot trading has no US exclusion. You must be 18, and using a VPN to get around any of this breaches the Terms.

Leverage is picked in whole numbers up to a cap set per asset: 40x on BTC, 25x on ETH, 20x on SOL, and 10x on most altcoins. The caps for stock, index, and commodity perps are not published. Every position is isolated, so a liquidation costs only that position's margin, and you can add or remove margin on an open position. Collateral is USDC in a separate perps balance, moved in from the token balance (5 USDC minimum in, 2 USDC out), and the smallest position is 15 USDC notional. Liquidation, stop-loss, and take-profit all trigger on Hyperliquid's mark price, not the chart price. A triggered order fills as a market order with a 10% slippage allowance, and funding is paid or received every hour. The Terms warn that the protocol can auto-deleverage profitable positions and that non-crypto markets may lack an insurance fund.

The Deposit screen offers four routes, and not every account sees all of them. A bank-issued debit card funds the USDC cash balance within a few minutes. Prepaid cards, Cash App, Venmo, PayPal, Zelle, and Apple Cash are refused, and card availability follows the payment provider's country list. Apple Pay works two ways: on the card screen it funds the cash balance through Coinbase, with a weekly limit shown in the app, and Buy with Apple Pay purchases a single token directly through Crossmint, capped at 2,500 dollars a day. Pay with Coinbase draws on a Coinbase account. Crypto deposits take USDC on Solana, Base, BNB Chain, Monad, or Ethereum, and USDG on Robinhood Chain, which converts into the Solana USDC balance. The smallest deposit that credits is 15 USDC on Ethereum and 0.50 on Base, BNB Chain, Monad, and Robinhood Chain, with no minimum on Solana. The help center publishes no card fee. On the web you fund with crypto, and the web launch post says card and Apple Pay deposits are done in the mobile app.

You withdraw USDC from the cash balance to any wallet or exchange address on Solana, Base, BNB Chain, Monad, or Ethereum, or USDG on Robinhood Chain, choosing the network to match the destination. The help center lists no withdrawal fee for these. Bank withdrawals go through Spritz and reach US bank accounts only, after a one-time ID check: the minimum is 5 dollars, a regular transfer takes 1 to 3 business days, and a same-day Fast option, for requests between 9 AM and 5 PM Eastern on a business day, carries an extra fee that is not published. Anything other than USDC leaves only by exporting the private key into another wallet, positions under 2 USDC (5 on Ethereum) cannot be sold in the app, and perps collateral has to move back to the token balance first.

Signing up through another user's link, fomo.family/r/ followed by their username, takes 10% off trading fees, so the standard 0.50% rate becomes 0.45% on every trade. The code has to go in at signup, though support can attach one afterwards. The help center describes the discount against the spot rate and does not say whether it applies to perps. The referrer receives 25% of the referred user's trading fees, paid into their cash balance, except the referred user's first Solana buy. Creators can apply to a separate affiliate program whose commission tiers are not published. The Terms ban self-referral and let Fomo claw back rewards. No ChainScouter code is active.

Fomo is an iOS app (rated 18+ on the App Store, developer FOMO Labs Inc.), an Android app on Google Play, and, since April 29, 2026, a web app at fomo.family that shares the same account, balance, positions, and follows. You sign in with an Apple ID, a Google account, or an email code. On phones, Face ID or a fingerprint gates opening the app, withdrawals, and key exports. The app is built around a live feed of other users' trades and theses, a leaderboard ranked by realized and unrealized PnL, alerts when traders you follow buy or sell, and TradingView charts. There is no copy trading. Spot trades are instant buys and sells at the quoted price, and the help center documents no limit orders and no API. Perps trade from the same account with one-click orders and stop-loss and take-profit levels.

The custody model is the strongest part. Your wallet is created by Privy, the key is split so no single party holds it, you can export it at any time, and Fomo's own documentation says it cannot access, move, or freeze your funds. The weak points come with that design: your Apple ID, Google account, or email is the only way in, there is no seed phrase to fall back on, and once you buy a token that turns out to be a honeypot, nothing can be undone. Fomo publishes no security audit or bug bounty, the Terms disclaim any representation about the safety of your assets, and one unverified drain allegation from August 2026 and one misattributed malware report from September 2026 sit in its record. Treat it as a well-funded consumer app on top of DEX liquidity: fine for money you are prepared to lose on memecoins, not a place to keep savings.

FOMO Labs Inc., a US company whose Terms are governed by New York law. Its three co-founders, Paul Erlanger, Se Yong Park, and Prashan Dharmasena, worked together at dYdX before starting the company in 2025. Fomo raised a $2 million pre-seed round from more than 140 angels in February 2025, a $17 million Series A led by Benchmark in November 2025, and a $75 million Series B led by Index Ventures with Union Square Ventures in June 2026, which Fortune reported at a $550 million valuation. The app launched publicly in May 2025.

No. You can follow any trader, see their buys, sells, and theses in a Friends feed, and get a notification when they trade above a size you set, but every trade you make is your own. The Send button on a profile transfers money to that person and does not copy their position.

USDC, yes, from the Withdraw screen to any address on Solana, Base, BNB Chain, Monad, Ethereum, or Robinhood Chain (as USDG). Anything else leaves by exporting your private key from Settings, Account, Export: the Solana key opens your Solana wallet, and the EVM key opens the same address on every EVM chain in any wallet you trust, so the tokens are already yours and simply become visible there. Never paste that key into a website or send it to anyone, including support.

Every fact on this page links to its source. The facts were checked Sep 25, 2026, and that date moves only when we recheck them. Updating the page does not re-verify a fact.