TD Ameritrade 300

Etrade vs Moomoo


Moomoo.com versus Etrade - which is better in 2021? Compare investing accounts, online trading fees, stock broker extended hours, and differences.



Overview of E*Trade and Moomoo


You’ve probably heard of E*Trade, thanks to its large advertising budget. You may not know anything about Moomoo, though. Despite the new broker’s bovine name, it does have some serious trading tools. Could E*Trade customers be missing out on a better deal? Keep reading for more information.


Cost Comparison


Broker Review Broker
Rating
Stock/ETF
Fee
Mutual Fund
Fee
Option Promotion Offer
Etrade
Etrade rating

$0 $19.95 $0.65 Get zero commission on stock and ETF trades.
Moomoo
Moomoo brokerage rating

$0 na na Sign up today and receive 2 free stocks valued up to $3,500!


Services


Broker Review Cost Investment Products Trading Tools Customer Service Research Overall Rating
Etrade
Moomoo


Promotions


Etrade: Get zero commission on stock and ETF trades.

Moomoo: Sign up today and receive 2 free stocks valued up to $3,500!



Tradable Assets


Before choosing a brokerage firm, it’s important to know what products the company offers for trading. Not all brokers provide access to the same assets.

Moomoo:

Stocks
ETFs
Closed-end funds
Options

Besides the big U.S. exchanges, Moomoo customers also get to trade on the Hong Kong, Shenzhen, and Shanghai markets.

E*Trade:

Bonds and other fixed-income investments
Mutual funds
ETFs
Closed-end funds
Stocks
Options
Futures (including cryptocurrency futures)

E*Trade only provides access to American exchanges.

Winner: Pretty close overall


Margin Borrowing


Both brokerage houses in this rivalry offer margin accounts. If you do borrow someone else’s money, you will of course be charged daily rates. Here are the annualized rates:

E*Trade:

5.45%, lowest rate 8.95%, highest rate

Moomoo:

6.8% across all balance tiers (for U.S. and Hong Kong securities)
8.8% across all balance tiers (for Shanghai and Shenzhen securities)

Both Moomoo and E*Trade have digital tools that reveal margin requirements for a particular stock. E*Trade’s website shows long and short margin requirements. Moomoo’s software shows these plus the short interest rate, margin call levels, and number of shares available for shorting.

Winner: Moomoo


Websites


When you’re ready to make an investment, E*Trade’s website has several useful features. There are multiple screeners if you first need to find an asset. If you already know what you want to buy, just enter the ticker symbol in the search field at the top of the site.

On a security’s profile, you’ll find a chart with tools and buy and sell buttons. The order ticket has 7 order types. Just in case these aren’t enough for you, there is Power E*Trade. This is the company’s browser platform. It is launched from the Complete View tab.

Power has 11 order types. Examples include Hidden and 3 Leg Bracket Stop Limit. Charting is very good with roughly 100 technical studies.

Moomoo’s website has no trading capability at all.

Winner: E*Trade


Desktop Software


Moomoo makes up for its failure in the website category with a very good desktop platform. Charting can be accomplished in full-screen mode with several technical indicators. There are also many drawing tools; examples include:


Moomoo Trading Platform


Gann box
Resolution point
Text box

Moomoo’s order ticket has twelve trade types, one of which is Trailing Stop Limit. Moomoo included a screener that is capable of looking on both American and Chinese markets. And we really like Moo, a community forum.

E*Trade’s desktop program, aptly named E*Trade Pro, doesn’t have a social networking feature; but it does have a lot of powerful tools. Features we found useful during our testing include:


Etrade Pro


Time & sales data
Direct-access routing We found only 2 destinations, though (ARCA and NYSE)
Discrete sell short button Moomoo doesn’t have it
Video news Courtesy of Bloomberg TV
Quick trade boxes Based on forex boxes, these create quick market orders

The one weakness E*Trade Pro has is that it doesn’t have a simulated trading mode. Moomoo’s platform, by comparison, does offer paper trading.

Winner: E*Trade


Mobile Apps


Besides applications for phones and tablets, E*Trade also has an app for Apple Watch. It is able to show alerts, market indexes, and a portfolio’s return. E*Trade’s phone/tablet app has Level II quotes, a watchlist, alerts, charting, and an advanced order ticket. The broker’s most advanced mobile ticket will be found on a second app called Power; it’s designed after the browser system.


Etrade versus Moomoo


Moomoo doesn’t have a smartwatch app, and it has only one mobile app. The program does have some really good features, including Level II data, horizontal charting, and a slimmed-down version of its desktop trade ticket. Moo makes another appearance, but video news is absent. On E*Trade’s app, Bloomberg is available once again.


Moomoo Investing App


Winner: E*Trade


Options


If you’re an options trader, E*Trade is one of the best places to be. Every trading platform the broker-dealer has offers some good derivative tools. The Power mobile app is the more robust of the two mobile platforms; it provides several pre-installed strategies. These include:

Strangle
Call calendar
Iron condor

E*Trade’s computer platforms offer profit-loss diagrams, an options income backtesting tool, a strategy optimizer, a probability calculator, and an options analyzer.

Moomoo, by contrast, has no tools at all. It does provide chains, but these are for calls and puts only. There are no integrated spreads. Oddly, prices on contracts are only available if you subscribe to a data package, and this of course carries a monthly fee.

Winner: E*Trade


Other Services


IRAs: Retirement accounts are available at E*Trade, but not at Moomoo.

Dividend reinvestment program: The same story exists for DRIP service.

Automatic mutual fund investing: E*Trade offers periodic mutual fund investing.

Fractional-share trading: Neither broker currently offers whole-dollar investing in stocks or ETFs.

IPO availability: Moomoo and E*Trade have IPO services.

Extended hours: Both brokers offer trading before the market opens and after it closes. Moomoo begins at 4 am, while E*Trade starts at 7 am.

Cash management: E*Trade customers can open checking and savings accounts (E*Trade is also a bank). Moomoo does not provide any cash management features.

Investment advice: Robo and traditional management packages can be had at E*Trade for minimal cost. Moomoo only offers self-directed accounts.

Winner: E*Trade


Promotions


Etrade: Get zero commission on stock and ETF trades.

Moomoo: Sign up today and receive 2 free stocks valued up to $3,500!



Now, Our Recommendations


Stock/ETF trading: We really like E*Trade Pro and Power E*Trade. Plus, the brokerage house has excellent research and analysis tools, including free stock reports from multiple analysts. If you seek Chinese-listed stocks, then Moomoo is your broker.

Beginners: New traders need educational materials, and these will only be found at E*Trade. Combined with 24/7 customer support and a human chat service (neither of which will be found at Moomoo), it’s an easy decision.

Small accounts: Moomoo and E*Trade have eliminated maintenance and account fees. But with Moomoo’s atrocious options data fee, we have to recommend E*Trade.

Retirement savers and long-term investors: Besides IRAs, E*Trade also has brick-and-mortar offices and financial-planning services.


E*Trade or Moomoo: Final Judgment


Except for social networking, margin borrowing, and Chinese stocks, E*Trade customers aren’t missing out on much at all.