It’s commonplace for cellular and on-line buying and selling platforms to have quite a bit in widespread. Choosing the proper platform on your wants might be difficult consequently.
It’s for that purpose that we’re evaluating Moomoo vs Robinhood. Each are digital buying and selling platforms with net and cellular 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 is likely to be contemplating Robinhood or Moomoo and questioning which one to strive.
Understanding the variations between the 2 platforms is important earlier than you choose one over the opposite. On this information, we’ll examine charges, options, usability, and instruments that will help you determine which platform finest aligns together with your investing targets.
Overview of Robinhood vs Moomoo
We at all times begin with an outline as a result of it’s one of the best ways to grasp any buying and selling platform and what it gives 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 target market is usually youthful individuals, 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 lively month-to-month customers. The corporate is a member of the SIPC and uninvested deposits are insured by the FDIC.
The Robinhood cellular app launched in 2015. After asserting their intention so as to add cryptocurrency buying and selling as an choice, they constructed a ready checklist of two million individuals. Crypto buying and selling was launched in 2018. Robinhood gives 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 choices.
The corporate was based in Silicon Valley in 2018 with the goal of offering traders with stronger assist and extra analysis and informational sources than different buying and selling platforms. They obtained an SEC license to function in all 50 states.
Among the issues that set Moomoo aside for superior merchants are their superior charting instruments and Degree 2 knowledge, low charges, paper buying and selling, and entry to the Hong Kong inventory market.
General, Moomoo is an effective alternative for newbie traders who don’t thoughts studying as they go, and for intermediate traders who need an accessible cellular buying and selling expertise with extra options than the opposite apps which can be out there.
Professional Tip:
Enroll with Robinhood immediately! You possibly can refer associates 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 vital 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 charge constructions for Moomoo and Robinhood are related however not an identical. Listed below are a few of the charges that Moomoo fees.
$0 fee on US shares
0.03% fee on Hong Kong trades
SEC regulatory charges (minimal of $0.01)
Choices charge of $0.65 per contract, minimal of $1.99 per order)
Margin charge 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 charge web page for a full schedule of all charges and fees.
Robinhood’s charges break down like this.
$0 fee for trades
$27.80 per $1m of precept in regulatory charges
Buying and selling exercise charge of at least $1 and not more than $8.30, based mostly on quantity
$0.50 per choice contract ($0.35 for Robinhood Gold customers)
$25 charge 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 price is $5 per thirty days or $50 per 12 months, though as of December 2024, Robinhood has indicated {that a} worth enhance could also be coming. View all the charge schedule right here.
Usability and Interface
Usability and an app’s interface are intently associated and may play a job in any dealer’s resolution about which platform to make use of.
Robinhood has a cellular app and net interface which can be designed to be extraordinarily simple to make use of, even for rookies 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 tough to understand that rookies can’t use it. They provide extra superior charting choices and a few totally different property 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 might take a bit of longer to get comfy with it in comparison with Robinhood.
Buying and selling Instruments and Analytics
Robinhood gives a minimal collection of choices buying and selling, buying and selling instruments, and analytics. You possibly can 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 provide entry to their studying middle, which contains a collection of related articles from trusted sources akin to Barron’s and MarketWatch, in addition to some movies and webinars that will help you study investing.
Moomoo has much more than Robinhood relating to analytical instruments. and choices buying and selling. Some examples embrace Degree 2 knowledge, 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 will help you study investing.
Funding Choices
All investing entails threat and there are some key variations between Robinhood and Moomoo relating to funding choices.
Robinhood gives 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 may perform market orders, restrict orders, cease orders, and stop-limit orders. Robinhood additionally gives customers the choice to open an IRA. With a free account, you’ll earn 1% matching contributions, and that will increase to three% should you subscribe to Robinhood Gold.
Moomoo gives 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. Accessible commerce sorts embrace market orders, restrict orders, stop-loss orders, trailing cease orders, and limit-if-touched orders.
Professional Tip:
Enroll with Robinhood immediately! You possibly can refer associates 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 in all probability 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 perfect for rookies. 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 should you’re a newbie or an informal investor, or somebody who simply needs a instrument that may enable you to commerce shares and different property rapidly, then Robinhood is the best alternative 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 lively dealer traders who aren’t rookies, however have not less than an intermediate degree of expertise. It gives superior charting and Degree 2 knowledge, one thing that newbie traders might not perceive or have the ability to use.
We like that Moomoo gives customers entry to the Hong Kong inventory change. And as monetary educators, we love that there’s an choice for paper buying and selling. When you enroll, 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 be aware right here that neither platform gives bonds or mutual funds, each of that are vital in portfolio balancing and diversification.
Professional Tip:
Enroll with Robinhood immediately! You possibly can refer associates 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 quite a bit to supply. Robinhood’s charges are barely decrease, whereas Moomoo gives 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.
General, we suggest Moomoo for superior and intermediate merchants, whereas Robinhood shines for rookies and informal traders. You’ll must determine which platform is finest suited to your expertise and funding type.
To see how Robinhood performs compared to one other well-liked platform, take a look at WEBULL VS ROBINHOOD!
FAQs
We predict Moomoo is best than Robinhood should 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 alternative for rookies and informal merchants.
No, Robinhood will not be presently providing paper investing. When you’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 cellular 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.
