It’s commonplace for cell and on-line buying and selling platforms to have quite a bit in widespread. Choosing the proper platform on your wants might be difficult because of this.
It’s for that purpose that we’re evaluating Moomoo vs Robinhood. Each are digital buying and selling platforms with net and cell choices. Each attempt to make the consumer expertise intuitive and approachable. And each provide commission-free buying and selling.
Whether or not you’re simply on the brink of make your very first funding or you have already got some expertise with buying and selling, you could be contemplating Robinhood or Moomoo and questioning which one to strive.
Understanding the variations between the 2 platforms is important earlier than you decide one over the opposite. On this information, we’ll examine charges, options, usability, and instruments that can assist you determine which platform finest aligns together with your investing objectives.
Overview of Robinhood vs Moomoo
We at all times begin with an summary as a result of it’s the easiest way to grasp any buying and selling platform and what it provides you as an investor.
Robinhood
Robinhood is a mobile-first buying and selling platform that was based in 2013 by Baiju Bhatt and Vladimir Tenev. The corporate is headquartered in Menlo Park, California, and its mission is to make investing accessible and enjoyable. Their audience is generally youthful folks, together with Millennials and Gens Y and Z.
Robinhood was the primary digital buying and selling platform to supply commission-free buying and selling, and that’s one thing that has helped them appeal to 10 million energetic month-to-month customers. The corporate is a member of the SIPC and uninvested deposits are insured by the FDIC.
The Robinhood cell app launched in 2015. After saying their intention so as to add cryptocurrency buying and selling as an possibility, they constructed a ready listing of two million folks. Crypto buying and selling was launched in 2018. Robinhood provides margin buying and selling, a crypto pockets, and 20 crypto cash for buying and selling, together with Bitcoin, Dogecoin, Ethereum, and Litecoin. (Learn: COINBASE VS ROBINHOOD)
A few of Robinhood’s key options embody a user-friendly and intuitive interface, crypto buying and selling, and the choice to purchase fractional shares.
Moomoo
Like Robinhood, Moomoo is a fin-tech buying and selling platform, however it’s centered on offering intermediate buyers with the instruments they should make knowledgeable funding selections.
The corporate was based in Silicon Valley in 2018 with the intention of offering buyers with stronger help and extra analysis and informational sources than different buying and selling platforms. They obtained an SEC license to function in all 50 states.
A few of the issues that set Moomoo aside for superior merchants are their superior charting instruments and Degree 2 information, low charges, paper buying and selling, and entry to the Hong Kong inventory market.
Total, Moomoo is an efficient selection for newbie buyers who don’t thoughts studying as they go, and for intermediate buyers who need an accessible cell buying and selling expertise with extra options than the opposite apps which are accessible.
Professional Tip:
Join with Robinhood at this time! You may refer pals to earn as much as $1500 per 12 months in FREE STOCK! Plus, you possibly can join Moomoo and earn as much as 15 free shares after making a deposit!
Moomoo vs Robinhood: Options Comparability
There are essential comparisons to make earlier than you join both Moomoo or Robinhood. Right here’s our tackle Robinhood vs Moomoo options and costs.
Charges and Pricing Construction
The payment constructions for Moomoo and Robinhood are related however not similar. Listed below are among the charges that Moomoo prices.
$0 fee on US shares
0.03% fee on Hong Kong trades
SEC regulatory charges (minimal of $0.01)
Choices payment of $0.65 per contract, minimal of $1.99 per order)
Margin price of 4.8% for US shares, 6.8% for Hong Kong shares
$20 for home outgoing wires, $25 for worldwide outgoing wires
$75 per inventory switch
Go to Moomoo’s payment web page for a full schedule of all charges and prices.
Robinhood’s charges break down like this.
$0 fee for trades
$27.80 per $1m of precept in regulatory charges
Buying and selling exercise payment of a minimum of $1 and not more than $8.30, primarily based on quantity
$0.50 per possibility contract ($0.35 for Robinhood Gold customers)
$25 payment for outgoing wires
ADR charges might apply
All charges are disclosed on the time of the transaction. When you determine to improve to Robinhood Gold, the present value is $5 monthly or $50 per 12 months, though as of December 2024, Robinhood has indicated {that a} worth improve could also be coming. View the complete payment schedule right here.
Usability and Interface
Usability and an app’s interface are carefully associated and will play a job in any dealer’s determination about which platform to make use of.
Robinhood has a cell app and net interface which are designed to be extraordinarily simple to make use of, even for freshmen who’ve by no means invested earlier than. The menu is minimalist, and even new buyers can determine it out, select an asset to purchase, and make their first commerce in only a minute or two.
The interface for Moomoo is a bit more complicated, however not so troublesome to understand that freshmen can’t use it. They provide extra superior charting choices and a few totally different belongings than Robinhood for superior merchants, together with entry to Hong Kong markets. We’d say that the interface remains to be intuitive and approachable, however it could take a bit longer to get snug with it in comparison with Robinhood.
Buying and selling Instruments and Analytics
Robinhood provides a minimal collection of choices buying and selling, buying and selling instruments, and analytics. You may view a few of their preset watchlists and naturally, view your portfolio. You’ll even have entry to real-time market costs. Each the app and the online portal provide entry to their studying heart, which includes a collection of related articles from trusted sources resembling Barron’s and MarketWatch, in addition to some movies and webinars that can assist you study investing.
Moomoo has much more than Robinhood on the subject of analytical instruments. and choices buying and selling. Some examples embody Degree 2 information, together with instruments to guage market sentiment, liquidity, and extra. They provide multi-monitor set-ups, technical indicators, and a set of 28 chart-drawing instruments, plus customized instruments. You’ll additionally discover paper buying and selling that can assist you study investing.
Funding Choices
All investing entails threat and there are some key variations between Robinhood and Moomoo on the subject of funding choices.
Robinhood provides buying and selling of US shares, ETFs, choices, ADRs, and 20 cryptocurrencies. They don’t provide bonds, mutual funds, futures, commodities, or Foreign exchange. When it comes to commerce sorts, you possibly can perform market orders, restrict orders, cease orders, and stop-limit orders. Robinhood additionally provides customers the choice to open an IRA. With a free account, you’ll earn 1% matching contributions, and that will increase to three% when you subscribe to Robinhood Gold.
Moomoo provides buying and selling of United State and Hong Kong shares and ETFs, REITs, and IPO subscriptions. They don’t provide cryptocurrency buying and selling, futures, commodities or Foreign exchange. Out there commerce sorts embody market orders, restrict orders, stop-loss orders, trailing cease orders, and limit-if-touched orders.
Professional Tip:
Join with Robinhood at this time! You may refer pals to earn as much as $1500 per 12 months in FREE STOCK! Plus, you possibly can join Moomoo and earn as much as 15 free shares after making a deposit!
Who Ought to Use Robinhood vs Moomoo?
You’re most likely questioning which investing platform is finest for you: Moomoo or Robinhood? Right here’s our breakdown.
Robinhood was particularly designed to be an entry-level and intuitive buying and selling platform that’s supreme for freshmen. The corporate prioritized making a user-friendly interface with minimal menu choices and options. They have been the primary buying and selling platform to supply $0 fee trades and their charges are low in comparison with many different platforms, together with prolonged buying and selling hours.
We might say that when you’re a newbie or an off-the-cuff investor, or somebody who simply desires a software that can show you how to commerce shares and different belongings shortly, then Robinhood is the correct selection for you. It’s additionally a sensible choice if you wish to dip into cryptocurrency investing. We notably like the choice to purchase fractional shares.
In contrast, Moomoo is clearly designed for energetic dealer buyers who aren’t freshmen, however have no less than an intermediate stage of expertise. It provides superior charting and Degree 2 information, one thing that newbie buyers might not perceive or have the ability to use.
We like that Moomoo provides customers entry to the Hong Kong inventory alternate. And as monetary educators, we love that there’s an possibility for paper buying and selling. When you join, you’ll get $1m of pretend cash to make use of as you determine totally different buying and selling choices and tips on how to construction your portfolio. Moomoo doesn’t provide cryptocurrency buying and selling.
We should always observe right here that neither platform provides bonds or mutual funds, each of that are essential in portfolio balancing and diversification.
Professional Tip:
Join with Robinhood at this time! You may refer pals to earn as much as $1500 per 12 months in FREE STOCK! Plus, you possibly can join Moomoo and earn as much as 15 free shares after making a deposit!
Moomoo vs Robinhood: Which Platform Is Higher?
Each Moomoo and Robinhood have quite a bit to supply. Robinhood’s charges are barely decrease, whereas Moomoo provides extra superior options together with charting choices and paper buying and selling. The consumer expertise is nice for each, however Robinhood’s is extra streamlined and intuitive.
Total, we suggest Moomoo for superior and intermediate merchants, whereas Robinhood shines for freshmen and informal buyers. You’ll must determine which platform is finest suited to your expertise and funding type.
To see how Robinhood performs compared to one other in style platform, take a look at WEBULL VS ROBINHOOD!
FAQs
We expect Moomoo is healthier than Robinhood when you’re an intermediate-to-advanced investor who desires entry to a broad array of analytic and funding instruments, in addition to paper buying and selling and the choice to commerce on the Hong Kong market. Robinhood is the preferable selection for freshmen and informal merchants.
No, Robinhood will not be at the moment providing paper investing. When you’re keen to spend a bit cash, you can begin constructing a portfolio with fractional shares. As you get accustomed to how the buying and selling course of works, you should buy further shares.
Sure, each Robinhood and Moomoo are protected to make use of. Robinhood customers’ accounts are protected by the SIPC and FDIC, and their web site and cell app have 2FA, end-to-end encryption, and the corporate has personal crime insurance coverage to guard customers if their safety is breached.Moomoo is protected by the SIPC as much as $500,000 per funding account. In addition they provide 2FA and encryption.
