Overview of Webull and Moomoo
If you’re using Webull for its $0 commissions and the information it provides on Chinese stocks,
you may want to take a look at Moomoo. Here’s the rundown on these two bovine brokers:
Cost Comparison
Services
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Cost |
Investment Products |
Trading Tools |
Customer Service |
Research |
Overall Rating |
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WeBull
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Moomoo
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Promotions
Webull:
Up to 75 FREE fractional shares when you make a deposit at Webull.
Moomoo:
Get zero commissions at Moomoo.
Available Investments
Webull clients can buy and sell these investment vehicles:
- Stocks on US exchanges
- ETFs
- Closed-end funds
- Options
- Cryptocurrencies
Although Webull offers limited data on some Chinese stocks, actual trading of them is not possible.
Moomoo is a different story. The brokerage firm offers trading not just in US-listed equities, but also China A-shares and securities on the Hong Kong exchange.
In addition to stocks, Moomoo delivers trading in these assets:
- Options
- Closed-end funds
- ETFs
Winner: Webull
Chinese Stock Research
Speaking of Chinese stocks, Webull’s software has a screener that can scan the Shanghai and Shenzhen markets for potential investments. During our research, we received 4,276 results. Chinese stocks have the same profile options as their American counterparts. For the Industrial and Commercial Bank of China (ticker number 601398), we found
- News articles
- Financial statements
- 27 trade recommendations (all buy or hold)
- Order flow analysis
- Corporate actions
- And more
On Moomoo’s platform, we found over 6,500 stocks using the stock screener. The number is higher because Moomoo’s widget can scan the Hong Kong exchange; Webull’s cannot.
On the Industrial and Commercial Bank of China’s profile, we found news articles in English (Webull’s are in Chinese). Other data points include company events (these are in Chinese), order book, financial statements in bar-chart format, peer comparison, and a comment section (empty on the day we did our research).
Winner: Tie
PC Software
Webull has two trading platforms: a browser platform and a desktop program. Both are very similar;
which one is better comes down to whether you want to trade on a web browser or on a discrete desktop system.
Webull’s software offers full-screen charting with several nice tools, including technical indicators (about 30 of them), a few drawing tools, and multiple graph styles. The order ticket has 5 trade types, one of which is trailing. Bracket orders are integrated, just in case you want a robo exit.
Besides this default order ticket, there are two others. One is an Active Trade ticket that is designed for quick order entry, and another is an options order ticket (it can nevertheless submit orders for equities).
To access Webull’s browser platform, you first need to log into the website. Once inside, you’ll see the TRADE link at the top. There are other resources once inside; these include mostly account management features, such as transferring funds and downloading tax documents.
Moomoo’s site has no login at all. It is used to advertise the company and that’s it. To trade, you have to download the broker’s desktop platform.
The software offers a similar experience as Webull’s. This means there is full-screen charting with about 30 technical studies and multiple drawing tools.
Moomoo’s order ticket (there’s just one) has 12 order types (including market/limit if touched). There is no bracket order functionality.
Both brokers offer simulated trading on their platforms, but Moomoo’s order ticket can’t be used in demo mode, a major drawback.
Winner: Webull
Mobile Apps
If you have a busy lifestyle and can’t be in front of your desk while the exchanges are open, you could use a mobile app instead. Both firms in this investigation have them. There are some similarities. For example, both apps have social networking tools where traders can communicate with each other.
Both apps also deliver margin details and horizontal charting with multiple graph tools. However, Webull’s platform has more charting widgets, including a dual-chart mode and a replay setting.
Moomoo delivers 8 trade types on its mobile app; missing are limit buy/sell and market buy/sell, which appear on the desktop system.
Webull’s order ticket has OTO (one triggers the others) but no trailing orders. On Webull’s app, we found a cryptocurrency watchlist (with trading capability) and trading competitions in simulated mode.
Winner: Webull
Option Tools
Although both firms in this rivalry offer trading in derivative contracts, the similarity stops there. Moomoo’s software only has calls and puts. Moreover, just to look at trading prices you have to sign up for a data subscription. There are three available; the cheapest is $3 per month, and an annual subscription will lower the monthly charge.
Webull charges nothing to see real-time data on options and trade them. Furthermore, its software has integrated spreads, including condors and straddles. Webull’s options order ticket (on the PC) has profit-loss diagrams, and the mobile app has a probability analysis tool.
Winner: Webull
Margin Borrowing
Webull and Moomoo both offer margin accounts, which can help to amp up your trading returns if you
need some leverage.
Using someone else’s money to trade does tend to be a big deal, of course. Moomoo charges 6.8% at all debit balance levels. For China A-shares, the price increases by 2%.
Webull traders pay for borrowed funds on a regressive scale. It starts at 9.24% and goes to 3.8%.
Both brokers also provide margin details on an entered ticker symbol, and this service of course is a huge benefit to day traders and short sellers alike.
Winner: Moomoo
Miscellaneous Services
Dividend reinvestment program: Neither broker offers it.
IRAs: Webull has them, but Moomoo doesn’t.
Fractional-share trading: Webull offers it, but not Moomoo.
IPO availability: Webull and Moomoo both offer access to upcoming IPOs. Moomoo has higher minimum requirements to participate.
Extended hours: Both broker-dealers offer trading from 4:00 am, EST, until 8:00 pm. Both firms also provide extended-hours toggle switches on their trading platforms.
Winner: Webull
Promotions
Webull:
Up to 75 FREE fractional shares when you make a deposit at Webull.
Moomoo:
Get zero commissions at Moomoo.
Recommendations
Stock/ETF trading: Webull’s platform does not have an ETF screener, but Moomoo’s does. On the other hand, Webull’s trade ticket is better. Take your pick.
Beginners: Once again, this one is pretty close. We lean towards Webull because it’s possible to use the broker’s order ticket in demo mode; Moomoo’s software doesn’t have this capability. Webull’s customer service seems slightly better as well.
Small accounts: We propose Webull because it doesn’t charge monthly fees for options data.
Retirement savers and long-term investors: Webull for its IRAs.
Webull vs Moomoo Verdict
While Moomoo is the obvious choice for Chinese stock trading, Webull clearly outperforms it in most other areas.
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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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