What Is fomo? The Social Crypto Trading App, Explained

The one-paragraph version

fomo is a mobile app published by FOMO Labs, Inc. for buying and selling crypto across six blockchains: Solana, Base, BNB Chain, Monad, Ethereum, and Robinhood Chain, the most recent addition. Mostly that means memecoins and other small tokens, plus some major coins. You sign up with an email or a social login, a wallet gets created for you in the background (fomo's terms name Privy as the key infrastructure behind it), and you can fund it with a card, with Apple Pay, or by transferring crypto in. Card and Apple Pay payments run through outside payment processors, not through fomo itself. Your own trades show up in a feed, and so do the trades of anyone you follow, which makes the app part trading tool and part social network. Perpetual futures, which are leveraged bets on which way a price moves, are reachable from the app too, though fomo's terms say those markets are "offered, operated, matched, and settled entirely by independent, third-party decentralized protocols." The crypto ones settle on Hyperliquid, a separate exchange. fomo dates its launch to April 2025.

If someone sent you a fomo referral link, or you saw it mentioned as "the trading app with the feed," this page is the plain-language starting point.

In practice it means you can pay with a card or Apple Pay through the app's payment providers, a wallet is set up for you automatically, and you see what other people on the app are trading while you decide what to do yourself.

Easy onboarding plus a social feed is also why it's worth reading past the pitch before you put money in. The rest of this guide is about the parts you have to dig into the terms and the help center to find.

Source: fomo, official product image

Who is behind the fomo app?

FOMO Labs, Inc. is privately held, so almost everything public about who is involved comes from the company's own funding announcements. Those announcements name Paul Erlanger and Se Yong Park as founders, with Prashan Dharmasena joining later as a third co-founder.

The rounds below are as reported in those announcements, checked 2026-08-09. We have not independently verified the amounts, the lead investors or the valuation.

Figures as reported in FOMO Labs' own funding announcements, checked 2026-08-09.

Added up, that comes to roughly $94M reported raised, with the Series B reported at a $550M valuation.

At the June 2026 announcement fomo said it had over 625,000 users and had processed around $4B in trading volume. Those last two are fomo's own self-reported figures rather than audited numbers, which is why they're written here as what fomo says.

What can you actually do in the fomo app?

• Buy and sell tokens across Solana, Base, BNB Chain, Monad, Ethereum and Robinhood Chain. You can fund with a card or Apple Pay, both processed by outside payment providers, or with crypto you already hold.
• Follow other traders and see their trades in a live feed. That's the social half of the app.
• Open perpetual futures positions (leveraged bets on price direction) on crypto, some equities, and a few other markets. Per fomo's terms these are run by outside protocols rather than by fomo, and the same document says "Perps functionality is not available to U.S. Persons."
• Trade tokenized versions of some US stocks in select regions. fomo's terms name Robinhood Europe UAB as the issuer of those stock and ETP derivative tokens, so the instrument itself is Robinhood Europe's product reached through fomo's interface.

fomo's marketing page advertises automated copy trading, where you'd mirror another trader's positions without doing anything. We searched the official help center on 14 August 2026 and found no documentation of that feature, and following someone's feed is not the same as auto-copying their trades.

We go through how the social feed and copy trading actually work in detail, including what the feed does and doesn't let you automate. The ranking that fills that feed has its own guide: the fomo leaderboard explained covers what the profit ranking counts, which timeframes exist, and why there is no web page you can open to check any of it.

hyperliquid Perpetual futures reached through the app are run by outside venues, with the crypto ones settling on Hyperliquid. fomo's Terms of Use say perps are "offered, operated, matched, and settled entirely by independent, third-party decentralized protocols," and that "Fomo does not operate, control, intermediate, custody, or settle Perps trading." So the division works out like this: fomo builds the screen you tap and passes the order on, adding its own fee, while the settlement venue runs the order book, holds the collateral behind your position and decides when it gets liquidated. Your spot balance stays in the fomo wallet. Your perp collateral does not. Two practical consequences: a perp costs you two fees instead of one, and the venue that has to keep working for your position to survive is the protocol rather than fomo. Quotes are from fomo's Terms of Use at fomo.family/terms, checked 2026-08-14. We break the fee side down fully on the fees page.

Why the app is easy to get into, and what that trades away

fomo doesn't require you to already own crypto, understand a seed phrase, or move funds off an exchange first. You can go from downloading the app to owning your first token in a few taps, using a card you already have.

Whatever the thinking behind that was, the observable effect is a much shorter path from install to first trade than a typical exchange signup.

The tradeoff is that easy to buy doesn't mean cheap to buy, and a feed of other people's trades can make buying feel more like following a crowd than making a decision. Neither is unique to fomo. Both are worth knowing going in, and our hands-on review of the fomo app weighs them against what the app does well and says who it suits.

Where to go next

• New to the app entirely? Start with setting up and funding an account, then how to trade on fomo for the first order itself.
• Want the real numbers on what a trade costs? Read fomo Fees Explained.
• Want a verdict rather than an explanation? Our fomo app review covers what it costs, what breaks, and who it does not suit.
• Curious how it stacks up against other apps? See fomo vs Moonshot.
• Wondering about the wallet and who holds your keys? Read our security guide.