If you’re looking for a new brokerage platform, Moomoo and Webull are worth a look. Both of these platforms offer commission-free stock and options trading as well as robust technical analysis platforms.
So, which broker is better for you? In this guide, we’ll compare Moomoo vs. Webull to help you decide.
About Moomoo and Webull
Moomoo was launched in 2019 by the brokerage firm Futu Inc. The app offers commission-free trading on US stocks and options, while providing investors with in-depth trading tools. It also offers international stock trading on the Hong Kong and A-shares markets. Moomoo has more than 18 million users across 200 countries.
Webull was founded in 2017 by Wang Anquan, a former Alibaba employee now in the US. The brokerage started with only a mobile app, but released a web trading platform in 2020. Webull has grown to over 11 million users in the US alone.
Both Moomoo and Webull are members of the Financial Industry Regulatory Authority (FINRA). All US accounts are insured for up to $500,000 by the Securities Investor Protection Corporation.
Moomoo vs. Webull: Account Types
One notable difference between Moomoo and Webull is in the types of accounts they offer. Moomoo only offers individual brokerage accounts, which are not tax-advantaged. Webull offers both individual brokerage accounts and traditional and Roth IRAs. Both brokers offer margin trading accounts.
Neither broker requires a minimum deposit to open an account.
Moomoo vs. Webull: Tradable Assets
Stocks and ETFs
Both Moomoo and Webull offer access to most US stocks and ETFs traded on the NYSE and NASDAQ exchanges, as well as hundreds of ADRs (American Depository Receipts) for international shares. Moomoo stands out for its selection of international stocks you can own directly. The company offers trading on the Hong Kong Stock Exchange and A-shares Market.
Webull recently added support for OTC (over-the-counter) stocks. There are currently around 200 penny stocks available for trading. Moomoo does not offer OTC stocks.
Webull also supports fractional share investing.
Both Webull and Moomoo support options trading for US stocks.
Webull offers trading on 36 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Dogecoin. Moomoo does not offer crypto trading.
Webull recently added US treasuries investing. This allows you to earn up to 5.8% APY on your cash. You can buy and sell treasuries at any time with zero commissions.
Moomoo doesn’t offer any cash management features.
Moomoo vs. Webull: Trading Fees
Moomoo and Webull are each commission-free brokers. That means you pay nothing to trade US stocks, ETFs, and ADRs. Options trading is also commission-free at each broker, although you will have to pay small fees charged by exchanges and regulators. Cryptocurrency trading with Webull is completely free.
At Moomoo, there are commissions for international stocks. These start at 0.03% + 15 HKD or yuan per trade.
Moomoo and Webull have slightly different fee structures for margin accounts. Moomoo charges 6.8% interest for all margin trades, while Webull’s rates vary from 5.49% to 9.49%, depending on your account balance. Unless you have at least $1 million in your account, Moomoo’s margin rates are much cheaper than Webull’s.
Moomoo vs. Webull: Trading Platforms
Moomoo and Webull are also highly similar when it comes to their trading platforms. Both firms started out as mobile-only brokers. Webull has since added a comparable web interface for trading, while Moomoo added desktop apps for Windows and Mac.
Both platforms offer a handful of key features, such as extended hours trading and free Level 2 stock market data. They also each offer extended trading hours. Even the charting tools are almost indistinguishable between the two platforms. Both brokerage apps enable you to view full-screen charts, apply dozens of popular technical studies and drawing tools, and view price data at one-minute intervals.
The two apps also include social elements. On Moomoo, there’s a feed where you can see popular stocks and start discussions with other traders. You can follow individual traders on the network, too, so it’s easy to create a feed filled with traders whose ideas you admire. On Webull, you can’t follow other traders, but you can find a stream of comments left by other users. Comments can be filtered by company so that you can see what other traders think about a specific stock.
Both brokers also support paper trading. This is an important feature for testing out new strategies.
However, there are some important differences between the two platforms. Webull includes a stock screener that allows you to filter stocks based on market cap, sector, analyst ratings, and common technical indicators. It’s not the most comprehensive stock screener, but Moomoo doesn’t have a similar tool.
What Moomoo offers instead is a very useful options strategy tool. You can evaluate single and multi-leg options strategies and view a simple profit-and-loss chart that shows the potential outcomes of your trade. Moomoo also uses historical data to calculate the probability that you can exercise your options contracts at expiration. Although Webull offers the same options trading potential as Moomoo, it doesn’t have tools specifically for options trading analysis.
Which Service is Better?
Moomoo and Webull have a lot in common when it comes to what assets you can trade, what fees they charge, and what trading tools you have access to. That said, there are some differentiating factors that could push you towards one service over the other.
US Stock Trading: Draw
If you’re mainly interested in trading US stocks and ETFs, both services are quite good. Webull’s stock screener can be helpful for self-directed traders who want to find their own stock ideas. On the other hand, Moomoo’s social network may be better for traders who prefer to find ideas by following other traders and want the feedback that comes with likes and comments.
Options Trading: Moomoo
If your goal is to trade options, Moomoo is the better platform thanks to its robust options strategy tool. Although Webull offers options trading, the app doesn’t offer tools to help you analyze multi-leg strategies in real-time. This is a major drawback for experienced traders who want to use options to manage their risk.
International Stock Trading: Moomoo
While Webull is mainly limited to trading stocks in the US, Moomoo offers trading on a huge range of stocks from Asian markets. You can trade stocks listed on the Hong Kong Stock Exchange or A-shares Market. These trades aren’t commission-free, but there are relatively few US brokers offering trading in these markets.
Cryptocurrency Trading: Webull
Webull offers commission-free trading on 36 popular cryptocurrencies, while Moomoo does not support cryptocurrency trading at all.
Retirement Investing: Webull
If you want to trade inside an IRA, Webull is the better choice. Moomoo does not offer retirement investing accounts at this time.
Moomoo and Webull Alternatives
We would be remiss to talk about Moomoo and Webull without also mentioning Robinhood – the first commission-free, mobile-only brokerage app and the broker on which Moomoo and Webull are arguably modeled. Robinhood offers commission-free stock, ETF, and options trading and has both web and mobile platforms.
While Robinhood remains popular – it has 23 million users – it lacks many of the trading tools that Moomoo and Webull offer. Most notably, Robinhood doesn’t offer technical charts. While this can make the broker more accessible to new traders, it also severely limits your ability to understand the stocks you’re trading. Robinhood also requires a paid subscription in order to access margin or Level 2 data.
We think that most traders, and especially active traders, would be better served by either Moomoo or Webull over Robinhood.
Conclusion: Moomoo vs. Webull
Moomoo and Webull are fast-growing commission-free brokers that offer stock, ETF, and options trading. The two platforms have a lot in common, including technical analysis tools that are largely comparable. However, Moomoo stands out for its excellent options strategy tool and integrated social network, while Webull stands out for its stock screener and IRA accounts.