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is the FOMO app legit? fees, safety and how it works

Yes, fomo is a real, venture-backed company. The New York social crypto trading app at fomo.family was co-founded by people who previously worked at the crypto trading platform dYdX, and in June 2026 it raised a $75M Series B led by Index Ventures at a $550M valuation. Its wallet is non-custodial: fomo says it cannot access, move or freeze your funds. A legit company does not make your trades safe, though: memecoins are extremely risky and can go to zero.

Updated · Independent guide by Fomo Trending · Not financial advice

Disclosure: Fomo Trending is independent and not affiliated with fomo or FOMO Labs. If you sign up through our fomo.family referral link (code FomTrendings), you get fomo's standard 10% fee discount and we earn a share of the fees you pay. More about us.

what fomo is and who makes it

fomo is a social crypto trading app based in New York, available on iOS (App Store), Android (Google Play) and the web at fomo.family. After a public beta, it launched publicly on 6 May 2025.

Its co-founders, Paul Erlanger (CEO), Se Yong Park and Prashan Dharmasena, previously worked at dYdX; the launch announcement lists team roots at Uniswap, OpenSea, dYdX, Square and Google. As Fortune reported, Erlanger says the name means “fearless of missing out”.

On 22 June 2026, Fortune reported a $75M Series B led by Index Ventures, with Union Square Ventures, valuing fomo at $550M. Its seed round had about 140 angel investors, including Balaji Srinivasan (former Coinbase CTO) and Raj Gokal (Solana co-founder). The company told Fortune in June 2026 that it was adding about 3,500 new users a day and had 17 employees.

how fomo works

You sign up with an email address or Apple ID, with no seed phrase to write down, and your account is a non-custodial smart wallet. From there:

  • Spot trading on Solana, Base, BNB Chain, Monad, Ethereum and Robinhood Chain, plus a Crypto tab.
  • Perps (perpetual futures) through Hyperliquid and Trade[XYZ]: isolated margin only, up to 40x on BTC, 25x on ETH, 20x on SOL and 10x on altcoins, with a 15 USDC minimum. Perps are not available in the US.
  • Blue-check verification for tokens with at least $1M of daily volume, a $5M market cap, 1,000 holders and a unique name. Projects apply at fomo.family/verify-token; check a token with the verification checker.
  • Minimum sell of 2 USDC (5 USDC on Ethereum).

fomo fees

fomo publishes its fees in its help center (checked 23 September 2026):

  • Solana: $0.10 flat under $5, 2% from $5 to $47.50, $0.95 flat from $47.50 to $190 and 0.50% from $190. fomo pays Solana gas, priority fees and token rent.
  • Base, BNB Chain, Monad, Ethereum and Robinhood Chain: 0.50% per trade plus the network fee.
  • Crypto tab: 0.05%.
  • Perps: 0.05% of the position's notional value plus Hyperliquid's fees.

A referral code takes 10% off every fee for the life of the account. See what your own order sizes cost with the FOMO fee calculator.

is fomo safe? custody and security

fomo's wallet is non-custodial: you control your private keys, and fomo says it “cannot access, move, or freeze your funds”. Its security explainer describes how:

  • FaceID is required for sensitive actions such as withdrawals and exporting your private key.
  • You can export your keys to another wallet.
  • The key is split with Shamir's Secret Sharing and the shares are distributed so that fomo alone cannot rebuild it. It is reassembled only inside trusted execution environments (TEEs) when a transaction is signed.

That is fomo's own description; we have not audited it. Custody protects your keys, not your trades: a memecoin can still go to zero, and a blue check only means a token met fomo's volume, market cap and holder thresholds.

what fomo is not

  • No token, no airdrop. fomo's help center says there is no fomo token and no airdrop. Anything claiming otherwise is not from fomo.
  • No copy trading. fomo's 2025 launch announcement mentioned copy-trading features, but its help center now says the app has none.
  • Not Fomo Trending. We are an independent tracker of fomo's Trending list, not part of fomo.

Treat any offer of a fomo token, a fomo airdrop or fomo copy trading as a scam, and never share your private key.

fomo referral codes, honestly

fomo referral links look like fomo.family/r/ followed by a username. A new user who signs up through one gets 10% off fees for life, and the referrer earns 25% of the fees that user pays (not on their first Solana buy). A code can only be entered at sign-up.

No code gives more than 10%: the “100% off” codes promoted in search results and videos are not real discounts. The referral code calculator shows what the discount saves you and what referring pays.

how to start

  1. Install fomo from the App Store or Google Play, or open fomo.family on the web.
  2. Sign up with email or Apple ID. If you want the 10% discount, enter a referral code now: it can only be entered at sign-up.
  3. Fund your wallet and start small. Check the fee on your order size first: small Solana orders pay the highest percentage.
  4. Before you buy a token, check whether it has fomo's blue check, and never put in more than you can afford to lose.

free fomo tools

quick answers

Is fomo legit?

Yes. fomo is a New York company whose co-founders previously worked at dYdX, and it raised a $75M Series B led by Index Ventures at a $550M valuation in June 2026. That makes the company real; it does not make any token you buy on it safe.

Is fomo safe?

Its wallet is non-custodial: you control your private keys, FaceID is required for withdrawals and key export, and fomo says it cannot access, move or freeze your funds. The tokens you trade are a separate risk and can go to zero.

Does fomo have a token?

No. fomo's help center says there is no fomo token and no airdrop. Anything claiming otherwise is not from fomo.

Are fomo perps available in the US?

No. fomo's help center says perps (perpetual futures) are not available in the US.

sources

Fees and rules checked against fomo's help center on 23 September 2026; everything else checked on 25 September 2026.