As the popularity of commission-free trading apps continues to grow, investors have more options than ever before. Two platforms that have emerged as top contenders in this space are Moomoo and Webull. Both offer commission-free trading for a variety of securities, but there are significant differences between the two platforms in terms of investment options, fees and margin rates, research and analysis tools, and overall user experience. In this article, we will provide a detailed comparison of Moomoo and Webull to help you decide which platform is the best fit for your investment needs.
Moomoo vs Webull Comparison
| Feature | Moomoo | Webull |
|---|---|---|
| Margin Rate | 6.80% and Up | 9.49% and Up |
| Trading Fees | $0 commission for US stocks, ETFs, and options. Futures trading fees vary. | $0 commission for US stocks, ETFs, options, and cryptocurrencies. |
| Market Cap | $6.8 billion (NASDAQ:FUTU) | N/A |
| Mobile App | Available for iOS and Android | Available for iOS and Android |
| Investment Options | Stocks, ETFs, options, ADRs, and futures | Stocks, ETFs, options, and cryptocurrencies |
| Customer Support | 24/7 live chat and phone support | Email support and in-app messaging |
| Securities Lending Income | Up to 50% of the revenue from lending out securities | N/A |
| Research and Analysis Tools | In-app research and analysis tools, including news and market data | In-app research and analysis tools, including news and market data |
| Cryptocurrency Trading | Not available | Available for Bitcoin, Ethereum, Dogecoin, and others |
| Education and Learning Resources | In-app educational materials, including video lessons and webinars | In-app educational materials, including video lessons and webinars |
| Trading Platform | Web and mobile app | Web and mobile app |
| Minimum Deposit | No minimum deposit required | No minimum deposit required |
| Cash Management | Moomoo Cash Management offers a high yield savings account, debit card, and ATM fee rebates | Webull Cash Management offers a high yield savings account, debit card, and ATM fee rebates |
| New Account Offer | Upto 18 FREE Stocks | Upto 12 FREE Stocks |
Here’s a comparison based on the available data:
- Features:
- Moomoo:
- Pre-market and after-hours trading
- Advanced charting and research tools
- Level 2 market data
- Social community and news feed
- Access to global markets (including the US, Hong Kong, and China)
- Paper trading (simulation) platform
- Webull:
- Pre-market and after-hours trading
- Advanced charting and research tools
- Level 2 market data (with subscription)
- News and analyst recommendations
- Access to US and global markets (including cryptocurrencies)
- Paper trading (simulation) platform
- Moomoo:
- Margin rate:
- Moomoo: Offers margin trading with interest rates that vary depending on the account balance. For the most up-to-date rates, check their website.
- Webull: Offers margin trading with interest rates that vary depending on the account balance. For the most current rates, check their website.
- Trading fees:
- Moomoo: Offers commission-free trading for US stocks, ETFs, and options. There may be fees for other markets or additional services.
- Webull: Offers commission-free trading for US stocks, ETFs, options, and cryptocurrencies.
- Market cap:
- Moomoo: Moomoo’s parent company Futu Holdings Limited is a publicly-traded company listed on the NASDAQ stock exchange under the ticker symbol “FUTU.” The market cap may fluctuate based on the stock price, as of March 23rd, 2023, the latest value of FUTU is $6.8B.
- Webull: As a privately-held company, Webull’s market cap is not publicly disclosed.
- Account minimums:
- Moomoo: No account minimum for US clients.
- Webull: No account minimum for US clients.
- Customer support:
- Moomoo: Offers customer support via email and live chat.
- Webull: Provides customer support via email, live chat, and phone.
Moomoo and Webull share many similarities in terms of features, fees, and margin rates. Both platforms cater to more advanced traders with their comprehensive research tools and charting capabilities. They also both offer paper trading, which is useful for practicing trading strategies without risking real money. The main differences between the platforms are the types of markets they offer access to and their customer support options. Webull provides access to cryptocurrency trading, while Moomoo offers a more extensive range of global markets. In terms of customer support, Webull has a more comprehensive offering, including phone support.
It is essential to consider your individual needs and preferences when choosing a trading platform. If you prioritize access to global markets, Moomoo might be a better fit, while if you are more interested in cryptocurrency trading, Webull may be the better choice.