FAQ
frequently asked questions
Including the ones with answers you might not want. Where we cannot verify something, we say so instead of guessing.
- What is FOMO?
- FOMO is a social-first crypto trading app and web platform built by FOMO Labs Inc. You can trade memecoins, altcoins and stablecoins, follow other traders, see what the top of the leaderboard is buying in real time, and copy trades. It runs on iOS, Android and the web, and a position you open on your phone can be closed on your desktop.
- Is this site official?
- No. LearnFOMO is an independent community guide with no affiliation to FOMO or FOMO Labs Inc, and nothing here is written, reviewed or endorsed by them. We use the app ourselves and we earn a referral reward if you sign up through our link, which is how the site pays for itself. Everything we state about the app is either publicly documented or something we checked in the app ourselves.
- How many people use FOMO?
- FOMO's own marketing puts it at more than 500,000 traders. That is their number, not one we can independently verify.
- Which devices can I trade on?
- iOS via the App Store, Android via Google Play, and any modern browser at fomo.family. The account is the same across all three, so you can open a trade on one device and close it on another.
- Is copy trading automatic?
- Following a trader and copying a trade are two different things. Following puts that trader's activity in front of you and can alert you when they buy. Actually taking the same position is a decision you make. Treat every alert as information, not an instruction, because you are the one holding the bag if it goes wrong.
- How do referral links work?
- FOMO runs an official referral and affiliate programme. When you sign up through a referral link, the referrer is credited. Our link is https://fomo.family/r/TraderGTG. It costs you nothing extra, and it does not change your fees or your account in any way. If you would rather not use it, go to fomo.family directly. The guides are free either way.
- Is FOMO available in my country?
- Availability varies by region and can change, and we are not going to guess on your behalf. Open the app store listing on your device or load fomo.family in a browser: if you can create an account, you are supported. Check FOMO's own terms of service for the authoritative list.
- What does it cost to trade?
- FOMO charges a fee per trade, shown in the buy panel before you confirm, on top of whatever the underlying network and liquidity pool charge. Read the number on the confirmation screen rather than trusting any figure written on a third-party site, including this one, because fees change.
- Do I control my own funds?
- This is the single most important question to answer for yourself before you deposit, and the honest answer is that you should verify it in the app rather than take our word for it. Look for whether you are given a recovery phrase or private key, and read the custody section of FOMO's terms. Self-custodial means you hold the keys and are responsible for them. Custodial means the platform holds them for you.
- Which chains does FOMO support?
- FOMO advertises multichain, gasless trading, meaning you are not manually buying a native gas token before each trade. The exact chain list changes as they add support, so check the token list in the app for what is live today.
- Can I lose money?
- Yes, easily, and most people who trade memecoins do. Tokens can go to zero in minutes, liquidity can be pulled, and there is no deposit insurance and no refunds. The risk management guide exists because this is the part that decides whether you are still trading in six months.
- Do you give financial advice?
- No. We teach how the app works and how to manage risk. We do not tell you what to buy, we are not licensed advisors, and nothing on this site is a recommendation to trade any particular token.
