Why choose moomoo
moomoo, a relative newcomer on the US stockbroker market, provides commission-free US stock, ETF and options trading with no inactivity fees. Its value proposition is backed up by high-quality research and educational tools. It pays high interest on uninvested cash.
On the downside, some popular asset classes such as bonds or mutual funds are not available at moomoo. Like many similar US brokers, moomoo doesn’t offer convenient deposit/withdrawal methods such as credit/debit cards or electronic wallets.
- Commission-free stock and ETF trading
- Fast and easy account opening
- Quality analytical tools and excellent education services
- Pays high interest on uninvested cash
Fees
- Commission-free stock and ETF trading
- No inactivity fee
- Pays 5.1% on uninvested cash
We compared moomoo's fees with two similar brokers we selected, Webull and Alpaca Trading. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of moomoo alternatives.
Commission-free stock and ETFs
It’s extremely great as moomoo has commission-free US stock trading.
Broker | US stock |
---|---|
moomoo | $0.0 |
Webull | $0.0 |
Alpaca Trading | $0.0 |
Low margin rates
moomoo has the lowest USD margin rate fees among brokers we reviewed. USD margin rate fees are calculated as follows: 6.8% annual margin rate
Broker | USD margin rate |
---|---|
moomoo | 6.8% |
Webull | 9.7% |
Alpaca Trading | 8.5% |
Low options commission
moomoo US stock index options fees are less than half of the industry average. US stock index options fees are calculated as follows: $0.5 per trade
Broker | US stock index options |
---|---|
moomoo | $5.0 |
Webull | $5.5 |
Alpaca Trading | - |
No inactivity fee, no withdrawal fee
However, both depositing and withdrawing by wire transfer can incur a fee:
- Domestic wire deposits cost $8 unless it's your first deposit or you deposit more than $25,000
- International wire deposits cost $25 unless it's your first deposit or you deposit more than $25,000
- Domestic wire withdrawals cost $25
- International wire withdrawals cost $45
Broker | Inactivity fee | Withdrawal fee |
---|---|---|
moomoo | $0 | |
Webull | $0 | |
Alpaca Trading | $0 |
Safety
- Majority of clients belong to a top-tier financial authority
- High level of investor protection
- Parent company listed on stock exchange
Deposit and withdrawal
- No deposit fee
- User-friendly
Account opening
- Fully digital
- No minimum deposit
- Fast
Mobile app
- User-friendly
- Good search function
- Good variety of order types
Desktop platform
- User-friendly
- Clear fee report
- Good customizability (for charts, workspace)