Updated 8 October 2026 · Facts checked against Fomo’s help center and terms · Contains referral links
The Fomo app is a social crypto trading app from FOMO Labs, Inc. The Fomo app lets you buy memecoins on six chains from your phone and copy other traders.
Quick verdict. The Fomo app is a legit company: it raised $94 million and holds 4.8 stars from 24,000 App Store ratings. It is still a high-risk app, because memecoins lose value fast and Fomo offers no investor protection.
This Fomo app review answers nine questions:
- What the Fomo app is
- Whether the Fomo app is legit
- How much the Fomo app charges
- How the Fomo app compares with Axiom, GMGN and Trojan
- Whether the Fomo app is safe
- What users say about the Fomo app
- Where you can use the Fomo app
- How to start trading on the Fomo app
- Who should use the Fomo app
What is the Fomo app?
The Fomo app is a social crypto trading app that combines a self-custody wallet, gasless token swaps and a feed of other traders’ trades. It runs on iOS, Android and the web at fomo.family.
FOMO Labs, Inc. launched the Fomo app in May 2025. The three Fomo founders, Paul Erlanger, Se Yong Park and Prashan Dharmasena, all worked at dYdX before.
The Fomo app supports six chains: Solana, Base, BNB Chain, Monad, Ethereum and Robinhood Chain, according to Fomo’s help center. Its social features set the Fomo app apart from other memecoin apps:
- A feed of trades from people you follow
- Leaderboards of top traders
- Alerts when top traders buy
- The option to copy a trader
The Fomo app has also offered perpetual futures through Hyperliquid and Trade[XYZ] since 11 June 2026, though not to US persons.
Is the Fomo app legit?
Yes, the Fomo app is legit: it is a real, venture-funded company with a public team and published terms. Four facts support that answer:
- A known legal entity. FOMO Labs, Inc. is the App Store seller, and Fomo’s terms are governed by New York law.
- Large investors. Fomo raised $94 million in total: a $2 million pre-seed (February 2025), a $17 million Series A led by Benchmark (November 2025) and a $75 million Series B led by Index Ventures with USV and Benchmark (June 2026).
- Real usage. Fomo reported $4 billion in trading volume by June 2026. DefiLlama shows $86.16 million in Fomo fees and $13.61 billion in spot volume as of 8 October 2026.
- Strong ratings. The Fomo app holds 4.8 stars from about 24,000 App Store ratings and ranks #39 in Finance.
A legit Fomo app is not the same as a safe investment. Fomo is a trading tool, not a licensed broker, so nothing protects your money if a memecoin goes to zero.
How much does the Fomo app charge?
The Fomo app charges 0.50% per trade on most tokens, or 0.45% with a referral link, according to Fomo’s help center. Fomo’s fees differ by chain:
| Chain or product | Fomo fee |
|---|---|
| Solana | 0.50% on larger orders; 0.95 USDC minimum on small trades (some as low as 0.10 USDC); Fomo pays the gas |
| Base, BNB Chain, Monad, Robinhood Chain, Ethereum, Arc | 0.50% plus network fees |
| Major tokens (EVM chains) | 0.05%, with minimum fees on small trades |
| Perpetual futures | 0.05% per trade plus protocol fees |
| With a referral link | 10% off: 0.45% instead of 0.50% |
The 0.95 USDC minimum matters most on small Solana trades. A $20 Solana buy can cost 0.95 USDC, which is 4.75% of the trade, and the sell costs the same again.
The full 0.50% rate only applies from about $190, where 0.50% equals 0.95 USDC.
App Store reviewers mention paying about “$1” per trade, which matches the Solana minimum fee. Fomo lists no deposit or withdrawal fee in its help center, but fast bank withdrawals cost extra.
How does the Fomo app compare with Axiom, GMGN and Trojan?
The Fomo app has the lowest standard trading fee of the big memecoin apps: 0.50%, against roughly 1% elsewhere. That fee advantage only holds above about $190 per trade, because the 0.95 USDC Solana minimum makes small Fomo trades more expensive than a 1% terminal.
The Fomo app and the main memecoin terminals differ on five points:
| Fomo app | Axiom | GMGN | Trojan | |
|---|---|---|---|---|
| Fee | 0.50% (0.45% referral), 0.95 USDC Solana minimum | 0.95% falling to 0.75%, 10% off with referral | 1% | 1%, 10% off with referral |
| Best on | phone | desktop browser | web, app and Telegram | Telegram and web |
| Chains | 6 | Solana, plus Hyperliquid perps | 6 | Solana |
| Social feed and copying | yes, built around it | wallet tracking | copy trading, wallet tracking | copy trading |
| Card and Apple Pay deposits | yes | no | no | no |
The Fomo app suits traders who want to buy with a card or Apple Pay and trade from a phone. Axiom suits traders who screen new tokens with filters on a laptop: open Axiom for 10% off trading fees (referral link).
Every trading platform is compared in our guide to the best memecoin trading platforms on Solana.
Is the Fomo app safe?
The Fomo app is reasonably safe as software, but trading memecoins on it is risky.
The Fomo wallet is non-custodial. Privy, a wallet-infrastructure company, creates the wallet, splits its private key into shares and lets you view and export the key, according to Fomo’s help center. That makes a Fomo wallet different from an exchange account, where the exchange holds your funds.
Three Fomo safety points need attention:
- One disputed loss claim. On 24 August 2026 a trader known as Derivatives_Ape claimed a Fomo iOS update caused about $6 million in losses. Fomo co-founder Prashan Dharmasena denied it, according to Protos, and the cause is unresolved. We found no confirmed hack of the Fomo app.
- Fake Fomo apps and sites. FomoPeek, an iOS app that stole about $580,000 in September 2026, is not Fomo. The site fomoo.family (two o’s) is a fake that drains wallets.
- No investor protection. Fomo is not a licensed broker, so losses from memecoins, rug pulls or mistakes are not covered.
You keep a Fomo wallet safe with three habits: store your private key offline, download Fomo only from fomo.family or the official app stores, and keep only your trading money in the app.
What do users say about the Fomo app?
Users rate the Fomo app highly in the app stores and poorly on Trustpilot:
| Platform | Fomo rating |
|---|---|
| Apple App Store | 4.8 stars, about 24,000 ratings |
| Google Play | about 4.6 stars, roughly 7,500 ratings |
| Trustpilot | 2.0 stars, only 11 reviews (all 1-star, unclaimed profile) |
Fomo app complaints follow four patterns:
- Tokens that can’t be sold after a rug pull, which is a memecoin problem rather than an app fault.
- Balances shown wrongly for a while after trades.
- Clunky withdrawals, especially outside the US, where you can only withdraw as crypto.
- The minimum fee on small Solana trades, which hurts small accounts.
Can you use the Fomo app outside the US?
Yes, you can use the Fomo app in most countries outside the US. Fomo users must be 18 or older.
Fomo’s terms (effective 17 August 2026) block the Fomo app in 12 places: Crimea, Cuba, Donetsk, the Democratic Republic of the Congo, Iran, Libya, Luhansk, Myanmar, North Korea, Sudan, Venezuela and Yemen. Countries under US, UK or EU sanctions are blocked too.
Three Fomo rules depend on where you live:
- US users can trade spot tokens but can’t use perpetual futures.
- Bank withdrawals work only for US bank accounts; everyone else withdraws as crypto.
- Robinhood Tokens on Fomo, which track stock prices, are blocked in the US, Canada, the UK and Switzerland.
How do you start trading on the Fomo app?
You start trading on the Fomo app in five steps:
- Download the Fomo app from fomo.family or the official App Store or Google Play listing. Check the spelling of the domain.
- Sign up with a referral link or code, so your fee drops from 0.50% to 0.45%.
- Export and save your private key before you deposit.
- Deposit with a debit card, Apple Pay, Pay with Coinbase or a USDC transfer.
- Follow traders and trade. On Solana, keep trades above about $190 so the 0.95 USDC minimum doesn’t eat your trade.
Who should use the Fomo app?
The Fomo app suits phone-first traders who want low fees on larger trades, card deposits and a social feed. The Fomo app is a poor fit for three groups:
- Small-account Solana traders making $20 to $100 trades, who pay up to 4.75% per trade through the minimum fee.
- Desktop traders who screen new launches with insider, sniper and bundle filters, which terminals such as Axiom do better.
- Anyone who needs investor protection, because the Fomo app is a self-custody trading tool, not a broker.
Does the Fomo app have copy trading?
Yes, the Fomo app lets you follow and copy other traders, and it alerts you when top traders buy. Copied trades on the Fomo app still carry the full memecoin risk of the trader you copy.
Our guide on how to copy trade Solana memecoins explains how to judge a trader before you copy them.
How does the Fomo referral program work?
The Fomo app referral program pays you 25% of the trading fees of every user who signs up with your link. The referred user gets 10% off their fees, according to Fomo’s help center.
Fomo’s separate affiliate program adds Silver, Gold and Platinum tiers with higher rates for approved creators, but Fomo doesn’t publish the tier percentages. Fomo says it has paid more than $1.1 million to affiliates so far.
