Interactive Brokers vs Moomoo


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


Overview of Moomoo and Interactive Brokers


Active traders like to use Interactive Brokers, but the firm has some competition from upstart Moomoo. Although the new broker has a funny name, it has some serious trading tools.


Cost


Broker Review Broker
Rating
Stock/ETF
Fee
Mutual Fund
Fee
Option Promotion Offer
IB
Interactive Brokers rating

$0 $14.95 $0.70 Use this referral link to get up to $1,000 of IBKR stock for free!
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
IB
Moomoo


Promotions


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

Interactive Brokers: Use this referral link to get up to $1,000 of IBKR stock for free!



Category 1: Assets


Traders at Moomoo can buy and sell option contracts, equities, and funds (closed-end and exchange-traded, but not mutual). The brokerage firm offers trading on 3 Chinese exchanges: Shanghai, Hong Kong, and Shenzhen.

Interactive Brokers goes much further than just 3 Chinese exchanges by offering trading on multiple exchanges all over the world. A few examples include Australia, Japan, Norway, Italy, France, and Switzerland. Although the Hong Kong exchange is available, Shenzhen and Shanghai are not.

In addition to the extra exchanges, IB provides trading in a long list of financial products. These include the securities that Moomoo offers plus the following:

- Contracts for difference
- Precious metals
- Warrants
- Structured products
- Forex
- Cryptocurrencies
- Mutual funds

Winner: Interactive Brokers


Moomoo Investing App


Category 2: Margin Borrowing


Interactive Brokers consistently has some of the lowest margin rates in the brokerage world. The highest rate is only to 4.08% for debits above $0. For accounts denominated in other currencies, rates vary above and below these levels.

Moomoo customers pay 7.3% for Hong Kong and American securities.

Both firms provide margin details on individual securities on their software platforms (discussed up ahead).

Winner: Interactive Brokers


Category 3: Education and Asset Research


Before plunging in head first and placing a trade, you need to do some research. Both investment firms in this contest provide educational tools online. Interactive Brokers’ website hosts IBKR Campus, which delivers many learning resources for investment education, including webinars and videos.

By contrast, Moomoo’s website hosts news articles, an economic calendar, and a list of Frequently Asked Questions. These pale in comparison to IB’s very thorough investment education.

For security analysis, Moomoo’s trading platform has a stock screener with tons of search criteria. Profiles have lots of trade data, such as average price and historical high. During our investigation, we found technical interpretations and income statement details in bar chart format.

Interactive Brokers offers asset screeners both on its website and its desktop platform. These can scan many foreign markets using many criteria. Asset profiles on the website have enormous amounts of information on them.

For Coca-Cola, we found a buy recommendation composed from 25 analysts. According to IB’s profile, over 68% of its shares are held by institutions, and the social sentiment on the stock is neutral. IB’s website also reveals that the company has consistently met or exceeded earnings forecasts.

Winner: Interactive Brokers


IBKR


Category 4: Website Trading


Although Moomoo has a website with a login, there are no trading tools inside. The website provides information about the broker’s services, and that’s about it.

We found a much more thorough website over at Interactive Brokers. Besides the very extensive list of learning materials mentioned above, there is also a client portal that delivers a surprisingly advanced trading experience. Besides full-screen charting with many great charting tools, there is a trade ticket with several advanced order choices. These include bracket orders, an on-the-close option, and a very advanced price management algo trade type.

The security analysis tools mentioned in the previous section for IB customers will be found on the client portal.

Winner: Interactive Brokers


Category 5: Desktop Software


Although Moomoo failed to show up for duty in the previous category, it does manage to deliver a very good desktop program. During our testing of the software, we found it easy to use. The platform has a trade ticket with more than 10 order types. These include:

- Limit if touched
- Trailing stop
- Market buy

Charting can be accomplished across the full width of the monitor with approximately a hundred technical studies.


Moomoo Trading Platform


Moo is a social-networking feature on the platform. It’s easy to discuss trading ideas on individual securities with other Moomoo customers.

IB’s desktop platform Trader Workstation doesn’t have a community forum. But it does offer direct-access routing, which is completely absent on Moomoo’s platform. Trader Workstation also boasts some very powerful option tools, which once again are missing on Moomoo’s software.

TWS has some very good charting tools, too. During our probing, we found roughly a hundred technical studies, a similar number that Moomoo posted. But IB’s software has right-click trading, which Moomoo’s lacks.


IB


Trader Workstation also has some very advanced order types not found at Moomoo. These include:

- OCO (one cancels other)
- Adaptive
- IBALGO

Both software platforms allow for practice trading, which is always a good idea before putting real money on the line.

Winner: Interactive Brokers


Category 6: Day Trading


Shorting: Both brokers reveal shorting information for an entered ticker symbol on their desktop platforms. Moomoo shows how many shares are available for shorting, whereas IB’s software only displays whether an asset is shortable or not.

Level II quotes. Available at both brokerage firms.

Direct-access routing. Trader Workstation, but not the client portal, has the ability to send orders to specific market makers. Moomoo doesn’t offer this service.

Routing fees and rebates. Interactive Brokers has maker-taker fees.

Winner: Interactive Brokers


Category 7: Other Services


Automatic mutual fund investing: Not available at either broker-dealer.

IRAs: Interactive Brokers offers retirement accounts. Moomoo does not.

Fractional-share trading: IB customers can place orders for stocks and ETFs in whole-dollar amounts. Moomoo does not yet offer partial-share trading.

IPO availability: Moomoo offers access to upcoming initial public offerings. IB customers in the United States don’t get this service, although IB customers located in Hong Kong might.

Extended hours: Moomoo and Interactive Brokers both offer pre-market and after-hours trading. The brokers’ sessions are the same length.

Dividend reinvestment program: Only Interactive Brokers provides dividend reinvesting.

Winner: Interactive Brokers


Our Recommendations


Stock/ETF trading: With fractional-share trading and the very good Trader Workstation, Interactive Brokers is it.

Beginners: Interactive Brokers offers a larger selection of educational materials. Combined with simulated trading on both its mobile app and desktop platform, we suggest it over its rival here.

Small accounts: Moomoo charges for options data. IB does not. We recommend the IBKR Lite schedule.

Retirement savers and long-term investors: Without any IRAs, Moomoo is no contest against Interactive Brokers.


Promotions


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

Interactive Brokers: Use this referral link to get up to $1,000 of IBKR stock for free!



Moomoo vs IBKR Final Judgment


Moomoo has made an admirable attempt to offer something fresh and new. It has succeeded in a few areas, most notably with mainland Chinese trading, which Interactive Brokers surprisingly doesn’t have. But the most advanced trading experience is very clearly at IB.



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.