Is Fomo app legit?
fomo is a real, operating trading terminal live since 2025-05. It is embedded-wallet, and is backed by Benchmark (lead), with angel investors. We found no reported hacks or fund losses in our sources. Legit is not the same as low-risk: the coins traded on it can still go to zero.
Checked 2026-10-16 · 8 sourcesThe checklist
| Check | Finding |
|---|---|
| Operating status | live |
| Custody | embedded-wallet |
| Identity check (KYC) | unknown |
| Known backers | 1 on record |
| Reported incidents | none found |
| Published fees | yes |
| US availability | partial |
Custody: who holds your money
Wallets are generated and managed by Privy. Users can view and export private keys. fomo's terms call the wallet non-custodial.
Who backs fomo
- Benchmark (lead), with angel investors — $17,000,000 (2025-11) source
Incidents
No reported hacks, exploits or frozen withdrawals in the sources we checked.
Real downsides
- Perps and tokenized stocks are not available to US persons.
- Terms say fees vary by trade and may change; the 0.50% figure comes from press, not a fee page.
- A $0.95 minimum fee on Solana trades makes small trades costlier, per TechCrunch.
- Referral commission rates are not published officially.
Can you use it where you live?
| Region | Status |
|---|---|
| United States | Partly available |
| United Kingdom | Partly available |
| European Union | Unverified |
Perps and Robinhood stock/ETP tokens are not available to US persons. Robinhood tokens are also unavailable in Canada, the UK and Switzerland. Sanctioned countries are barred entirely. (source)
We report what the venue's own terms say. Don't use a VPN to get around restrictions; venues can freeze accounts that do.
How to use fomo without getting scammed
- Only open fomo.family — fake lookalike sites and "support" DMs are the most common way people lose funds on any trading venue.
- Never share a seed phrase or private key. No real support agent will ask for one.
- A referral code only changes your fee and who gets a share of it. It never needs your keys.
- Treat every new memecoin as able to go to zero. A legit venue does not make the coins on it safe.
Comparing options? See the full fomo sheet or Axiom, MevX, GMGN.
FAQ
Is fomo legit?
fomo is run by FOMO Labs, Inc. under New York law. Benchmark led its $17M Series A in November 2025. Wallets run on Privy with exportable keys. DefiLlama tracks about $84M in revenue since launch. No security incidents were found in the sources checked.
What are fomo's fees?
TechCrunch reports 0.50% per trade with a $0.95 minimum on Solana, and fomo covers gas. Perps cost 0.05% per transaction plus protocol fees. The exact fee is shown before you confirm.
Can I use fomo in the US?
Spot trading is not restricted for the US in fomo's terms. Perps and Robinhood stock tokens are not available to US persons. Sanctioned countries are barred entirely.
How does the fomo referral program work?
Affiliates apply, get a fomo.family/r/<username> link, and earn commission on referred trades in real time. fomo doesn't publish the rate. Third-party sites report 25% to referrers and 10% off for invitees, unverified.
Which chains does fomo support?
fomo trades Solana, Base and BNB Chain from one balance. DefiLlama also tracks fomo fees on Ethereum, Monad, Hyperliquid, Robinhood Chain and Arc.
Sources
Last checked . Fees and terms change often; the venue's own page wins if it disagrees with ours.
- fomo Terms of Use (FOMO Labs, Inc.) — checked 2026-10-16
- fomo Affiliate Program — checked 2026-10-16
- fomo homepage — checked 2026-10-16
- fomo blog: What is fomo — checked 2026-10-16
- TechCrunch: Why Benchmark made a rare crypto bet on trading app Fomo with $17M Series A — checked 2026-10-16
- Pulse 2.0: fomo raises $17 million Series A — checked 2026-10-16
- DefiLlama fomo revenue and methodology — checked 2026-10-16
- Fomo help: How referral codes and fee discounts work — checked 2026-10-16