Fidelity vs Moomoo


Futu Moomoo vs Fidelity—which is better in 2022? Compare investing accounts, online trading fees, stock broker extended hours, and differences.


Overview of Fidelity and Moomoo


Fidelity was a great broker in the 20th century. But what about the 21st century? Will it be able to adapt to a new investment world? Moomoo is a recent entrant in the brokerage industry that’s trying to offer something innovative and fresh. Take a look at this comparison:


Pricing


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

$0 $49.95 $0.65 Get $0 stock commissions.
Moomoo
Moomoo brokerage rating

$0 na na Get up to 10 free stocks when you open an account at Moomoo!


Services


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


Promotions


Fidelity: Get $0 stock commissions.

Moomoo: Get up to 10 free stocks when you open an account at Moomoo!



First Category: Tradable Assets


If you opt for a brokerage account at Fidelity, you’ll be able to trade these financial products:

Bonds and bond equivalents
Stocks
Mutual and closed-end funds
ETFs
Options
Precious metals

Moomoo doesn’t offer bonds, mutual funds, or precious metals.

Both firms provide trading in a selection of global stocks. Moomoo offers access to the Hong Kong, Shanghai, and Shenzhen markets. Fidelity customers get access to the Hong Kong exchange, but not the other two. However, Fidelity provides access to 24 other exchanges located on multiple continents.

Winner: Fidelity


Second Category: Margin Borrowing


If you’re really excited about either broker but don’t have enough money to buy all the securities you’re interested in, you can use someone else’s money. This service does come at a price.

Moomoo’s margin rates:

7.3% across all balance tiers (for U.S. and Hong Kong securities)
9.3% across all balance tiers (for Shanghai and Shenzhen securities)

Fidelity’s margin rates:

5.5%, bottom rate
9.825%, top rate

Moomoo’s software provides margin details on any ticker symbol you enter. Fidelity’s doesn’t.

Winner: Moomoo


Third Category: Websites


Moomoo has a very basic website with no login function. It only serves as a starting point for trading with the broker’s tools.

Fidelity’s website is a totally different experience. It does have a login, and once inside you’ll find a cornucopia of tools and widgets. The top menu is a good place to start, and it’s very intuitive. There are selections for research, trading, and investment education.


Fidelity


Charts on Fidelity’s website can be expanded the full width of the computer screen. There are multiple tools, and a graph can be saved or exported. A chart’s window has a trade button, and this of course will bring up the order form.

Fidelity’s web-based trade ticket has 8 trade types (4 of them are trailing orders) and 6 duration choices. Unique ones are on-the-open and on-the-close. A more advanced ticket called Trade Armor can be accessed (just select Trade Armor from the list of selections in the TRADE drop-down menu that appears on the regular ticket). Trade Armor offers bracket orders, and conditional orders are also available.

Winner: Fidelity by a mile


Fourth Category: Desktop Software


Fidelity goes a step further with its very good desktop program Active Trader Pro. The software has live streaming of investment news and a host of other features; ones we really like include:

Direct access to market makers
Basket orders (send multiple orders simultaneously)
Custom layouts

Moomoo has a desktop platform, too. The software doesn’t offer direct-access routing or basket orders, but it does have multiple layouts. It’s also possible to save and import your own. Highlights on the platform include:

Advanced order form
Excellent charting
Security screeners (for both American and Chinese markets)


Moomoo Trading Platform


Winner: Fidelity


Fifth Category: Mobile Apps


Mobile traders haven’t been left out of the picture at either firm. Fidelity has a mobile platform (with Touch ID) that delivers information on global markets and so much more. During our probing, we found a PayPal transfer tool, a very unique feature. Streaming video news makes another appearance, the order ticket has several trade types, and charts can be shown horizontally.


Fidelity mobile app


The situation at Moomoo is similar, although not exactly the same. The mobile platform doesn’t have Touch ID or video news, although it does provide excellent charting tools and an advanced trade ticket. We didn’t find a funds transfer tool, an obvious weakness. But there is a community forum called Moo on the app (on the desktop system, too), and it delivers a nice social-networking environment.


Moomoo Investing App


Winner: Toss up


Sixth Category: Trading Options


Options can be traded on mobile or computer platforms at both broker-dealers in this contest. On Moomoo’s software, calls and puts are displayed, and it’s possible to select just one option type at a time. We were disappointed not to find any pre-installed spreads, and even worse, it’s not possible to build your own. So a single-leg call or put trade is all you get.

To actually place a trade, you have to click on a bid or ask price, and this of course requires bid and ask prices. To get this data, you have to enroll in a data subscription (with a monthly fee).

Fidelity requires no monthly fee for options trading. Moreover, its software offers several integrated spreads, including diagonals and iron condors. Unlike Moomoo, Fidelity offers many derivative tools, including a probability calculator and profit-loss diagrams.

Winner: Fidelity


Seventh Category: Investment Education and Research


On Fidelity’s website, we found a large number of educational resources. These can be sorted by experience level or asset type. During the coronavirus epidemic, Fidelity is hosting online webinars. It sends out a weekly newsletter (called Fidelity Viewpoints®).

Fidelity’s website has numerous screeners with lots of search criteria. Stock profiles have free reports from numerous analysts. Technical events and ESG data are other perks.

Moomoo doesn’t provide pdf reports, but its software does have trade recommendations from multiple analysts. Although Moomoo does offer asset screeners, neither its website nor its desktop platform has any general educational materials, and this of course puts it at a huge disadvantage compared to Fidelity.

Winner: Fidelity


Eighth Category: Miscellaneous Services


IRAs: Fee-free IRAs are available at Fidelity. Moomoo offers no retirement accounts at all.

Dividend reinvestment program: Fidelity customers can convert cash distributions into additional security shares. Moomoo customers cannot.

Automatic mutual fund investing: Periodic mutual fund deposits are available at Fidelity.

Fractional-share trading: Fidelity, but not Moomoo, offers whole-dollar investing.

IPO availability: Fidelity and Moomoo both offer access to Initial Public Offerings before they begin trading on the secondary exchanges. Moomoo requires settled cash to buy an IPO, while Fidelity requires at least $100,000 in account equity ($500,000 in some cases) to participate.

Extended hours: Both brokerage firms offer pre-market and after-hours trading. Moomoo’s morning session is longer than Fidelity’s.

Cash management: Fidelity will send you free checks and a debit card if you want them. ATM fee refunds are just one benefit among many. Moomoo has no banking tools of any kind.

Investment advice: Fidelity has both digital and human advisory options. Moomoo has neither.

Winner: Fidelity


Promotions


Fidelity: Get $0 stock commissions.

Moomoo: Get up to 10 free stocks when you open an account at Moomoo!



Finally, Our Recommendations


Mutual fund investors: Fidelity for obvious reasons.

Stock/ETF trading: We propose Fidelity. It has better stock and ETF research tools. Plus, its desktop software has direct-access routing.

Beginners: Once again, it’s Fidelity. The broker has much better learning materials, especially those geared towards new traders. Its customer support is also light years ahead of anything Moomoo offers.

Small accounts: We recommend Fidelity because it doesn’t charge monthly data fees on options.

Retirement savers and long-term investors: With financial planning, a self-employed 401k, and a long list of annuities, Fidelity is the easy choice.


Moomoo vs Fidelity Judgment


Margin traders will be well served at Moomoo. Despite its emphasis on Chinese stocks, Fidelity is the outperformer for global trading and most other functions.



About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.