It’s commonplace for cell and on-line buying and selling platforms to have lots in widespread. Selecting the best platform to your wants may be difficult in consequence.
It’s for that purpose that we’re evaluating Moomoo vs Robinhood. Each are digital buying and selling platforms with internet and cell choices. Each try to make the consumer expertise intuitive and approachable. And each supply commission-free buying and selling.
Whether or not you’re simply on the point of make your very first funding or you have already got some expertise with buying and selling, you is perhaps contemplating Robinhood or Moomoo and questioning which one to strive.
Understanding the variations between the 2 platforms is crucial earlier than you decide one over the opposite. On this information, we’ll evaluate charges, options, usability, and instruments that can assist you determine which platform greatest aligns together with your investing objectives.
Overview of Robinhood vs Moomoo
We at all times begin with an outline as a result of it’s one of the simplest ways to grasp any buying and selling platform and what it presents 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 entice 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 asserting their intention so as to add cryptocurrency buying and selling as an possibility, they constructed a ready record of two million folks. Crypto buying and selling was launched in 2018. Robinhood presents 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 embrace 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, nevertheless it’s targeted on offering intermediate traders with the instruments they should make knowledgeable funding selections.
The corporate was based in Silicon Valley in 2018 with the goal of offering traders with stronger help and extra analysis and informational assets than different buying and selling platforms. They obtained an SEC license to function in all 50 states.
A number of the issues that set Moomoo aside for superior merchants are their superior charting instruments and Stage 2 information, low charges, paper buying and selling, and entry to the Hong Kong inventory market.
Total, Moomoo is an effective selection for newbie traders who don’t thoughts studying as they go, and for intermediate traders who need an accessible cell buying and selling expertise with extra options than the opposite apps which can be accessible.
Professional Tip:
Join with Robinhood right this moment! You’ll be able to refer mates to earn as much as $1500 per 12 months in FREE STOCK! Plus, you may 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 price buildings for Moomoo and Robinhood are comparable however not similar. Listed below are among the charges that Moomoo expenses.
$0 fee on US shares
0.03% fee on Hong Kong trades
SEC regulatory charges (minimal of $0.01)
Choices price of $0.65 per contract, minimal of $1.99 per order)
Margin fee 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 price web page for a full schedule of all charges and expenses.
Robinhood’s charges break down like this.
$0 fee for trades
$27.80 per $1m of precept in regulatory charges
Buying and selling exercise price of at least $1 and not more than $8.30, based mostly on quantity
$0.50 per possibility contract ($0.35 for Robinhood Gold customers)
$25 price for outgoing wires
ADR charges could apply
All charges are disclosed on the time of the transaction. If you happen to determine to improve to Robinhood Gold, the present price is $5 per thirty days or $50 per 12 months, though as of December 2024, Robinhood has indicated {that a} value improve could also be coming. View your entire price schedule right here.
Usability and Interface
Usability and an app’s interface are carefully associated and may play a task in any dealer’s choice about which platform to make use of.
Robinhood has a cell app and internet interface which can be designed to be extraordinarily simple to make use of, even for newcomers who’ve by no means invested earlier than. The menu is minimalist, and even new traders 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 newcomers can’t use it. They provide extra superior charting choices and a few completely different property than Robinhood for superior merchants, together with entry to Hong Kong markets. We’d say that the interface continues to be intuitive and approachable, however it might take a bit of longer to get comfy with it in comparison with Robinhood.
Buying and selling Instruments and Analytics
Robinhood presents a minimal choice of choices buying and selling, buying and selling instruments, and analytics. You’ll be able to 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 net portal supply entry to their studying middle, which incorporates a choice of related articles from trusted assets resembling Barron’s and MarketWatch, in addition to some movies and webinars that can assist you study investing.
Moomoo has much more than Robinhood in terms of analytical instruments. and choices buying and selling. Some examples embrace Stage 2 information, together with instruments to judge 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 includes threat and there are some key variations between Robinhood and Moomoo in terms of funding choices.
Robinhood presents buying and selling of US shares, ETFs, choices, ADRs, and 20 cryptocurrencies. They don’t supply bonds, mutual funds, futures, commodities, or Foreign exchange. By way of commerce sorts, you may perform market orders, restrict orders, cease orders, and stop-limit orders. Robinhood additionally presents 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 presents buying and selling of United State and Hong Kong shares and ETFs, REITs, and IPO subscriptions. They don’t supply cryptocurrency buying and selling, futures, commodities or Foreign exchange. Obtainable commerce sorts embrace market orders, restrict orders, stop-loss orders, trailing cease orders, and limit-if-touched orders.
Professional Tip:
Join with Robinhood right this moment! You’ll be able to refer mates to earn as much as $1500 per 12 months in FREE STOCK! Plus, you may 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 greatest 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 newcomers. The corporate prioritized making a user-friendly interface with minimal menu choices and options. They had 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 informal investor, or somebody who simply needs a instrument that can show you how to commerce shares and different property shortly, then Robinhood is the fitting 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.
Against this, Moomoo is clearly designed for energetic dealer traders who aren’t newcomers, however have no less than an intermediate stage of expertise. It presents superior charting and Stage 2 information, one thing that newbie traders could not perceive or have the ability to use.
We like that Moomoo presents customers entry to the Hong Kong inventory trade. And as monetary educators, we love that there’s an possibility for paper buying and selling. If you happen to join, you’ll get $1m of pretend cash to make use of as you determine completely different buying and selling choices and tips on how to construction your portfolio. Moomoo doesn’t supply cryptocurrency buying and selling.
We must always observe right here that neither platform presents bonds or mutual funds, each of that are essential in portfolio balancing and diversification.
Professional Tip:
Join with Robinhood right this moment! You’ll be able to refer mates to earn as much as $1500 per 12 months in FREE STOCK! Plus, you may 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 lots to supply. Robinhood’s charges are barely decrease, whereas Moomoo presents extra superior options together with charting choices and paper buying and selling. The consumer expertise is sweet for each, however Robinhood’s is extra streamlined and intuitive.
Total, we advocate Moomoo for superior and intermediate merchants, whereas Robinhood shines for newcomers and informal traders. You’ll must determine which platform is greatest suited to your expertise and funding model.
To see how Robinhood performs compared to one other fashionable platform, take a look at WEBULL VS ROBINHOOD!
FAQs
We predict Moomoo is healthier than Robinhood when you’re an intermediate-to-advanced investor who needs 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 newcomers and informal merchants.
No, Robinhood isn’t presently providing paper investing. If you happen to’re keen to spend a bit of 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 secure 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 supply 2FA and encryption.
