Fomo Review: Is Crypto's Hottest Trading App Worth the Hype?

Introduction

Fomo just raised $75 million in a Series B at a roughly $550 million valuation, and that felt like a good excuse to actually open the app and see what the hype is about. The popular crypto trading app now has more than 600,000 users and over $4 billion in trading volume, and the new capital is supposed to help it push beyond crypto into equities, perpetuals, and prediction markets.

So we downloaded it and spent some time poking around.

What’s Inside

The first thing that stands out is that Fomo is not trying to be a “serious” trading terminal in the old-school sense. It is trying to make trading feel social, fast, and a little addictive in the best possible way. It leans hard into leaderboards, a live feed of top traders, real-time alerts, one-click buys, multichain support, and Apple Pay onboarding. Currently, you can trade BTC, ETH, SOL and more across Solana, Base, BNB Chain, and Monad, while tracking your portfolio and PnL in real time.

That is exactly why it works, especially for memecoins. A lot of people do not actually want a complicated trading app. They want a clean way to see what the sharpest people are buying, copy them quickly, and feel like they are part of the action. Fomo gives that a scoreboard. Good traders can build a public reputation for finding coins early, holding through noise, and being right before the crowd catches up. This part is genuinely fun, and it makes the whole thing feel more like a game with status attached to skill than a random roulette wheel.

It also sits in the same general lane as Moonshot, but it feels a bit better to us because the social layer is the product, not just a side feature. Moonshot made memecoin trading easier, but Fomo makes it easier and more visible. That difference matters. Once everyone's trades are out in the open, it's not just about making money anymore. People want to be known as the guy who found the coin early and held through the noise.

The Catch

Of course, the obvious downside is the same downside that always comes with copy trading. Not everyone you're following has your best interests in mind, and sometimes the people copying a trade end up becoming someone else's exit liquidity. That's not really a Fomo problem though. It's just the nature of copy trading. 

What makes the next chapter interesting is that Fomo does not seem interested in staying a memecoin-only app. Se Yong has already been posting about “equity, pre-IPO, crypto, indices, and commodities perps” all in one place, which is a pretty loud hint that the product roadmap is bigger than just meme speculation. If that expansion lands well, Fomo could end up being one of the more interesting consumer trading products out there, not because it is the most advanced, but because it is the easiest to actually enjoy.

Final Thoughts

We certainly liked playing with the app, and it would be even better with more diverse assets added. Right now, Fomo feels like the kind of app that makes trading easier to understand and easier to follow. Add pre-IPO stocks, commodities, perps, and it becomes a lot more dangerous, but also a lot more compelling! 

All in all, Fomo is not winning because it invented trading. It is winning because it makes trading feel like something people want to check every day. That is a much rarer product than it sounds.

If you enjoyed this article and want to learn more about what Fomo is building, follow them on X for the latest updates!