It’s common for cellular and on-line buying and selling platforms to have so much in frequent. Choosing the proper platform on 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 net and cellular choices. Each attempt to make the person expertise intuitive and approachable. And each provide 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 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 decide one over the opposite. On this information, we’ll examine charges, options, usability, and instruments that will help you determine which platform finest aligns along with your investing targets.
Overview of Robinhood vs Moomoo
We all the time begin with an summary as a result of it’s one of the best ways to grasp any buying and selling platform and what it affords 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 cellular app launched in 2015. After asserting their intention so as to add cryptocurrency buying and selling as an possibility, they constructed a ready checklist of two million folks. Crypto buying and selling was launched in 2018. Robinhood affords 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, however it’s targeted on offering intermediate buyers with the instruments they should make knowledgeable funding selections.
The corporate was based in Silicon Valley in 2018 with the purpose 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.
General, Moomoo is an effective alternative for newbie buyers who don’t thoughts studying as they go, and for intermediate buyers who need an accessible cellular buying and selling expertise with extra options than the opposite apps which might be obtainable.
Professional Tip:
Join with Robinhood right this moment! You possibly can refer associates to earn as much as $1500 per yr 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 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 price buildings for Moomoo and Robinhood are related however not similar. Listed here are a number of the charges that Moomoo costs.
- $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 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 price web page for a full schedule of all charges and costs.
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, primarily based on quantity
- $0.50 per possibility contract ($0.35 for Robinhood Gold customers)
- $25 price for outgoing wires
- ADR charges might apply
All charges are disclosed on the time of the transaction. In case you determine to improve to Robinhood Gold, the present price is $5 per 30 days or $50 per yr, though as of December 2024, Robinhood has indicated {that a} worth improve could also be coming. View your complete 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 resolution about which platform to make use of.
Robinhood has a cellular app and net interface which might be designed to be extraordinarily straightforward to make use of, even for inexperienced persons 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 inexperienced persons can’t use it. They provide extra superior charting choices and a few completely 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 little bit longer to get snug with it in comparison with Robinhood.
Buying and selling Instruments and Analytics
Robinhood affords a minimal choice 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 online portal provide entry to their studying heart, which contains a choice of related articles from trusted sources comparable to Barron’s and MarketWatch, in addition to some movies and webinars that will help you study investing.
Moomoo has much more than Robinhood with regards to analytical instruments. and choices buying and selling. Some examples embrace Degree 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 will help you study investing.
Funding Choices
All investing entails threat and there are some key variations between Robinhood and Moomoo with regards to funding choices.
Robinhood affords 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 varieties, you possibly can perform market orders, restrict orders, cease orders, and stop-limit orders. Robinhood additionally affords 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 affords 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 varieties 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 possibly can refer associates to earn as much as $1500 per yr 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 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 inexperienced persons. 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’d say that should you’re a newbie or an off-the-cuff investor, or somebody who simply needs a instrument that can allow you to commerce shares and different belongings shortly, then Robinhood is the precise alternative for you. It’s additionally a good selection 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 inexperienced persons, however have at the very least an intermediate stage of expertise. It affords superior charting and Degree 2 information, one thing that newbie buyers might not perceive or be capable to use.
We like that Moomoo affords customers entry to the Hong Kong inventory alternate. And as monetary educators, we love that there’s an possibility for paper buying and selling. In case you enroll, 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 provide cryptocurrency buying and selling.
We should always word right here that neither platform affords bonds or mutual funds, each of that are vital in portfolio balancing and diversification.
Professional Tip:
Join with Robinhood right this moment! You possibly can refer associates to earn as much as $1500 per yr 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 so much to supply. Robinhood’s charges are barely decrease, whereas Moomoo affords extra superior options together with charting choices and paper buying and selling. The person expertise is sweet for each, however Robinhood’s is extra streamlined and intuitive.
General, we suggest Moomoo for superior and intermediate merchants, whereas Robinhood shines for inexperienced persons and informal buyers. You’ll have to determine which platform is finest suited to your expertise and funding fashion.
To see how Robinhood performs compared to one other common platform, try WEBULL VS ROBINHOOD!
FAQs
We predict Moomoo is healthier 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 inexperienced persons and informal merchants.
No, Robinhood shouldn’t be at the moment providing paper investing. In case you’re prepared to spend a little 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 extra 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 cellular app have 2FA, end-to-end encryption, and the corporate has non-public 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. Additionally they provide 2FA and encryption.
