Moomoo vs. Robinhood Introduction
Traders who are using Robinhood for low-cost brokerage services should seriously think about moomoo.
To understand why, consider our research.
Cost Comparison
Services
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Cost |
Investment Products |
Trading Tools |
Customer Service |
Research |
Overall Rating |
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Robinhood
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Moomoo
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Promotions
Robinhood: 1% IRA match and up to $200 FREE stock at Robinhood.
Moomoo:
Get 15 FREE stocks and 8.1% APY on cash at Moomoo.
Available Assets
Robinhood started out offering just stocks and exchange-traded funds. Since its launch, the brokerage house has added options and cryptocurrencies. A few over-the-counter stocks are available, but not very many.
Moomoo delivers everything on Robinhood’s list except cryptocurrencies. In their place, moomoo adds closed-end funds and three Chinese stock exchanges (Shanghai, Hong Kong, and Shenzhen).
Neither brokerage firm has any investment-advisory accounts.
Winner: Toss up
Margin
To make things as simple as possible, moomoo charges a flat 6.8% for all debit levels on long positions.
This rate is only valid for U.S.-listed securities.
Robinhood offers both margin and cash accounts (moomoo only offers margin accounts). Robinhood
charges 6% for debit balances under $50K.
moomoo’s software displays margin details such as maintenance requirement on every entered ticker symbol. Robinhood’s software doesn’t do this.
Winner: Robinhood
Websites
When it comes time for actual trading, Robinhood’s site delivers charting, asset profiles, and a pretty good order ticket. A graph can be expanded the full width of the screen, and there are a few (just a few) technical studies.
Robinhood’s order ticket has 6 trade types:
- Market
- Limit
- Stop loss
- Stop limit
- Trailing stop
- Recurring
The trailing order can be set as either a percentage or dollar amount. The order ticket is integrated with every asset profile in the upper-right corner, so there’s no need to pull it up to place a trade.
Speaking of asset profiles, these have earnings histories, analyst ratings, and key stats. Unfortunately, that’s about the extent of research capability on the Robinhood site.
Moomoo’s site has an equity screener, a great resource we didn’t find on Robinhood’s site. A stock’s profile has a decent amount of information on it. Examples include key stats (more than twice the amount that Robinhood’s site delivers), news articles, company announcements, and social networking.
A trade ticket is integrated in the right-hand side of the profile. This can be used only for simulated trades, however. Although moomoo’s site has grown and developed quite a lot over the past year, it still has no actual trading capability.
Winner: Robinhood
Mobile Trading
But moomoo’s mobile app does have trading capability. The order ticket has 8 trade types:
- Market
- Limit
- Stop limit
- Stop
- Limit if touched
- Market if touched
- Trailing stop limit
- Trailing stop
In addition to the advanced trade ticket, we found several other pro-level features on moomoo’s app. These include Level II quotes, short sale analysis, technical indicator analysis, institutional holdings, and more. Many of these details are displayed in graphical format for ease of viewing.
Other highlights on the app include a simulated-trading mode, Moo (the social-networking platform), integrated option strategies, and on-demand videos from Bloomberg TV.
Robinhood’s mobile app doesn’t have any videos. It also doesn’t have a community forum for its clients, and there is no demo mode. However, there are some good tools on the app. For example, there is an option-strategy builder that leads the user step-by-step to create a multi-leg trade.
The order form has 6 trade types. The most exotic is recurring, which sets up a systematic purchase of a security.
Winner: Robinhood
Desktop Trading
Traders at moomoo have one more trading resource: the company’s desktop platform. This piece of software brings trading to the highest possible level with the brokerage firm. There is a currency exchange calculator that can convert among U.S. dollar, Chinese RMB, and the Hong Kong dollar.
The main menu is in the left-hand column. A Quant tab has been recently added. Using this tab, it is now possible to create a quant strategy in three steps. No programming is required.
Although moomoo does not yet offer trading in futures, there is a futures analysis tool on the desktop platform. It will be found under the Explore tab (look for the Futures Analysis tab at the top). It shows correlations, historical relevance, and charts of price movements.
The trade ticket for securities has an additional 4 order types compared to the mobile ticket, and charts have lots of gadgets and gizmos.
Robinhood still has no desktop platform.
Winner: moomoo
Additional Services
IPO Access: Both Robinhood and moomoo offer trading in Initial Public Offerings.
Cash Management: In addition to its brokerage accounts, Robinhood offers banking services with some really lucrative perks, like earning bonus investments for using its debit card. Moomoo has no bank products.
Extended-hours Trading: Moomoo has a longer pre-market trading period than Robinhood. Both firms offer the same number of hours in late-night trading. Moomoo customers also get the Chinese markets late at night.
Individual Retirement Accounts: Only available at Robinhood.
DRIP Service: Available inside a Robinhood account.
Fractional Shares: Possible at Robinhood but not at moomoo.
Winner: Robinhood
Promotions
Robinhood: 1% IRA match and up to $200 FREE stock at Robinhood.
Moomoo:
Get 15 FREE stocks and 8.1% APY on cash at Moomoo.
Recommendations
Small Accounts: Neither brokerage house has any account fees or minimums, so either will work for a small account. Because Robinhood offers fractional-share trading (starting at just $1 for securities), it will work better for small accounts.
Retirement Savers & Long-Term Investors: Because Robinhood is the only brokerage firm with IRAs, it is better than moomoo.
Active Stock Trading: With moomoo’s very good desktop software, it is our pick.
Beginners: Robinhood does a better job of simplifying the trading experience. For example, its software is easier to use and it has whole-dollar trading. However, moomoo’s software offers paper trading, which would be really beneficial for novices.
Mutual Funds: Neither brokerage firm here has them. Charles Schwab does.
Moomoo vs Robinhood Final Judgment
Yes, moomoo does outperform Robinhood in a few areas. But overall Robinhood offers more appealing
services andfeatures.
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Updated on 10/7/2024.
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.
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