Overview of Webull and Moomoo
Are you looking for a brokerage firm with great trading platforms and unique asset classes? Look
no further than Webull and moomoo. For details on the differences between these two, keep reading.
Cost Comparison
Services
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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:
12 FREE stocks valued $34-$30,600 give-away at Webull.
Moomoo:
Get up to 17 free stocks when you open an account at Moomoo!
Pros and Cons of Webull
Webull customers have access to these highlights:
- Cryptocurrency trading
- Fractional shares
- Ultra-low fees and commissions
But the broker has these drawbacks:
- No OTC stocks
- Customer support is limited
- No foreign assets
Pros and Cons of Moomoo
Traders often choose moomoo for these advantages:
- Multiple Chinese exchanges
- Social networking
- Currency exchanges
The broker-dealer underperforms here:
- No cryptocurrencies
- Per-contract fees on option trades
- Minimalist website
First, We Need to Examine Available Investments
Webull customers can buy and sell options, stocks, ETFs, ADRs, and cryptocurrencies. Currently, retirement accounts and individual (but not joint) taxable accounts can be opened.
Over at moomoo, we found a similar situation for tradable instruments. Instead of cryptocurrencies, the broker offers Chinese stocks (including both mainland and Hong Kong equities). But there is only one account type available right now: the individual taxable account.
Neither brokerage house offers trading in over-the-counter instruments.
Winner: Webull
Next, It’s Margin
moomoo’s individual taxable accounts can only be opened as margin accounts. The broker does not offer cash accounts at this time. Accounts that borrow funds pay a flat 6.8% across all balance tiers, which makes things fairly simple.
Webull offers both cash and margin accounts, which is its major advantage in this category. Margin accounts that borrow money pay interest on a traditional tiered schedule. Currently, that ranges from 9.49% to 6.49%.
Both broker-dealers in this contest display margin details like maintenance requirement on entered ticker symbols. These values include both hypothetical long and short positions.
Winner: Webull
Third, Let’s Look at Customer Service
Webull’s website posts a phone number (888-828-0618) and an email address (customerservices@webull.us). Both lines of communication are up and running 24 hours a day, 7 days a week. For less personal service, there is an extensive list of FAQs on the company’s website. Look for it under the Help tab located in the top menu.
moomoo also has a service e-mail address. It is cs@fututrade.com. Singaporean clients should use clientservice@futusg.com instead.
Like Webull, moomoo displays its phone number on its website. It’s 888-721-0610. Unlike Webull, moomoo’s service desk is not open 24/7. Phone agents are available during market hours only. There is a list of FAQs on moomoo’s site under the Support tab.
Both firms can be contacted through their mobile apps, and both websites can be displayed in Chinese. Neither brokerage firm in this competition has branch locations.
Winner: Webull
Fourth, It’s Time for Websites
moomoo’s website has news articles with thumbnails, quotes on indexes and securities, and brief information on the company’s services. Strangely, there is a login, but it doesn’t deliver any trading capability or even account management tools.
Webull’s website has both. After logging into our test account, we found a browser platform by clicking on the Trade link in the top menu. The platform occupies a discrete tab inside the browsing window. There are some really great trading resources on this web-based platform. Highlights include:
- Simulated trading
- Advanced trade ticket with bracket orders
- Discrete rapid-fire trade ticket for quick entry
- Full-screen charting with tools
- Market indexes and news
For account management, the website has a portal where electronic documents can be viewed and downloaded. A settings menu allows for account customization. For example, options and crypto privileges can be added, and a cash account can upgrade to margin.
Winner: Webull
Fifth, Let’s Have a Look at Other Software
While moomoo totally failed in the realm of website trading, it more than makes up for it with its very good desktop program. It can be downloaded from the website.
During our trial run of the desktop system, we found it easy to use yet powerful enough for foreign trading. (To find Chinese stocks, look under the Markets and Explore tabs.)
The main menu on moomoo’s platform will be found in the left-hand column. Moo is the broker’s social-networking platform. This is where customers can chat with each other on the day’s trading activity.
The order ticket on the desktop system comes with twelve order types. These include limit if touched and trailing stop market. There are only two duration choices: GTC and day.
Charts on moomoo’s platform have lots of drawing tools and technical studies. However, there is only one plot style (candlestick) and the right-click menu doesn’t have a trade link.
Charts on Webull’s desktop platform have seven plot styles. Examples include Heikin Ashi and OHLC bars. The right-click menu has a trade link, which is another strength.
The rest of Webull’s platform is easy to use, and like moomoo’s platform, the main menu is the left-hand column. The bottom icon in this menu is for simulated trading, a great feature that moomoo’s platform also has.
Webull has fewer trade types, but there are two trade tickets, and bracket orders are integrated in the regular ticket. The second ticket has customizable buttons that can send orders with a single click. For example, a green button can be customized to read “Buy 100 @ ask,” which will buy 100 shares at the best ask price for the entered ticker symbol.
Both companies have mobile apps that function on Apple and Android phones and tablets. They provide a lot of the same trading features we have already seen. Only Webull has a companion smartwatch app.
Winner: Webull
Sixth, Let’s Investigate Options Trading
moomoo customers can buy and sell option contracts on the broker’s desktop platform and mobile app. However, only calls and puts can be traded. There are no integrated spreads on either platform, and it’s not possible to create custom multi-leg trades. Furthermore, moomoo’s software does not have any significant option tools like a probability calculator or profit-loss diagrams (there are option Greeks, though).
Over at Webull, the situation is very different. Right off the bat, we found option spreads. These are available on the desktop platform and mobile app, but not on the browser platform. The browser platform can trade single calls and puts, though.
The two spread platforms have lots of strategies, like butterflies, strangles, and condors. There are small graphs that show the profit-loss schematics of the strategies, and we really like the short descriptions, too.
Webull’s mobile app shows graphs and charts of probability analysis and volume. The desktop platform has an options order ticket with a graphical profit-loss section that shows maximum gain and loss values. Contracts can also be manually slid across a horizontal price axis to change their strike prices. The order ticket automatically updates when doing this.
Winner: Webull
Seventh, Let’s Investigate Stock Research Tools
Webull’s trading platforms deliver quite a bit of information on stocks. During our investigation, we found the following details:
- News articles from multiple sources
- Financial performance in line graph and bar chart formats
- Press releases
- Institutional holdings of a stock
- Order flow
- ETF holdings
- Short interest
- SEC filings
- Corporate actions
Under the Analysis tab on a stock’s profile, Webull provides analyst trade recommendations with price targets. This of course is a very valuable resource. There are no pdf reports, however.
Webull has a stock screener that can scan the Canadian, U.S., and Chinese mainland markets. Only U.S. stocks are actually tradable, however. There are only 7 search variables for the U.S. exchanges, a major weakness.
moomoo’s stock screener will be found under the Explore tab (look for the Screener link). This search engine has more search variables than Webull’s has. We counted well over a hundred of them. Plus, there are more exchanges available. Singapore, Australia, and Hong Kong are additions.
Equity profiles at moomoo have lots of data points, including a lot of the same particulars we saw at Webull in similar graphical formats. Examples include daily short volume, news articles, analyst ratings, company valuation, and more.
At both moomoo and Webull, we found 26 analyst ratings for Boeing.
Winner: moomoo
Lastly, It’s Miscellaneous Services
Individual Retirement Accounts: Webull offers traditional, Roth, and Rollover accounts. As already mentioned, moomoo offers none.
Banking Tools: Neither brokerage firm in this face off has cash management tools.
Extended Hours: Both firms offer pre-market and after-hours trading. Total length of time is the same.
DRIP Service: Neither broker-dealer has a DRIP service.
Fractional Shares: Only Webull has fractional-share trading (and fractional-coin trading).
Initial Public Offerings: Traders can get in on upcoming stock offerings at either firm.
Winner: Webull
Before We Go, Our Recommendations
Small Accounts: Neither brokerage house has any account fees or minimums. Both frequently run specials for opening an account and making a small deposit, referring friends, etc.
ETF/Stock Trading: This one is a tough one. Both firms have very good software. We lean towards Webull for fractional shares. For Chinese equities, moomoo is the only choice.
Long-Term Investors & Retirement Savers: Since Webull is the only broker in this challenge with IRAs, it gets our recommendation.
Beginners: Pretty even here.
Promotions
Webull:
12 FREE stocks valued $34-$30,600 give-away at Webull.
moomoo:
Get up to 17 free stocks when you open an account at Moomoo!
moomoo vs Webull Final Judgment
moomoo is a good brokerage firm for stock research and trading Chinese equities. For everything
else, Webull is the outperformer.
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Updated on 12/24/2022.
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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