Best Moomoo Alternatives in 2024

As interest in the stock market peaks, more investors have found themselves unsatisfied with the capabilities of their current broker. Moomoo offers a unique blend of high-level data and charting options with commission-free investing. However, the platform isn't right for everyone, especially those interested in cryptocurrency investing, extended market hours and investing for retirement.

It's worth the effort to take the time and find the best possible broker for your individual needs. Our guide to Moomoo alternatives will help you move your account if Moomoo's features don't provide you with the services and tools you need.

Quick Look: Best Moomoo Alternatives

• Lowest Cost Broker: Interactive Brokers
• Best for Extended Trading Hours: Webull
• Best for Customer Service: E*TRADE
• Best for Beginners: Robinhood

Best Alternatives to Moomoo

Though many traders successfully invest through Moomoo, the online trading platform isn't right for everyone. If you don't think that Moomoo is the right broker for you, consider our favorite Moomoo alternatives below.

1. Lowest Cost Broker: Interactive Brokers

You can choose from two plans with Interactive Brokers: IBKR Lite and IBKR Pro.

IBKR Lite

IBKR Lite provides retail clients with $0 commissions on US-listed stock and ETF trades, no account minimums and no inactivity fees.

IBKR Pro

IBKR Pro is the IBKR Plan for sophisticated investors and active traders. IBKR Pro clients access the IB SmartRoutingSM system, which provides $0.47 per 100 shares price improvement vs. the industry.

Invest globally in stocks, options, futures, currencies, bonds and funds from a single integrated account. Fund your account in multiple currencies and trade assets denominated in multiple currencies. Access market data 24 hours a day and six days a week.

2. Best for Extended Trading Hours: Webull

Many brokers advertising themselves to retail investors limit trading hours to the primary active session that takes place between the hours of 9 a.m. and 4 p.m. EST.

Webull is one of only a few brokers that offers complete access to both the pre-market session (4 p.m. to 9:30 a.m. EST) and all aftermarket hours (4 to 8 p.m. EST). Investors prepared to handle these higher volatility sessions can find plenty of tools to trade with when they choose Webull.

In addition to after-hours trading, Webull also offers investors commission-free investments in everything from stocks to options trading. It also offers cryptocurrency access and a customer service team working around the clock to help you enter and exit your positions effectively.

3. Best for Customer Service: E*TRADE

If you're a new investor or you've decided to enter the market during this period of intense interest and volatility, it's comforting to know that you have a team of professionals standing by to help you set up and manage your brokerage account.

When it comes to quality customer service, E*TRADE stands out above many competing brokers. Phone customer service is available 24 hours a day and seven days a week and the broker also offers live chat, email service and a number of physical branches that you can visit to sit down with a representative.

4. Best for Beginners: Robinhood

Robinhood was one of the first brokerages that set out to design a simple trading platform intuitive enough for even complete beginners. 

Today, Robinhood's desktop and mobile offerings continue to provide new retail investors with an inviting and intuitive trading platform they can use to get their feet in the world of investing without navigating high-level ordering systems and charts.

Though Robinhood doesn't offer free access to Level 2 market data and few charting tools, its straightforward and educational platform lets investors explore without feeling intimidated. Swipe through some of the day's fastest-moving stocks, define commonly used terms with a tap and see a quick explainer of each order type before you place it. 

Robinhood can offer new investors an amazing place to begin their investing journey with its easy trades and a wealth of information for new investors.

More on Moomoo

Moomoo is a stockbroker owned by Futu Holdings Ltd. and based in California. Moomoo's mission is relatively simple: Combine professional-grade tools with commission-free investing. Some of the many offerings Moomoo has included in its desktop and mobile platforms include:

• Free Level 2 market data: Most brokers require their investors to pay an additional monthly or annual fee for access to Level 2 market data. Moomoo is one of the only brokers we've seen to offer this information for free to all investors who open a Moomoo account.
• Custom push notifications: With mobile trading becoming more and more popular, you don't want to have to sit at your computer all day to monitor your investments. Moomoo offers a dynamic and completely customizable range of push notification options to be informed of preset market movements no matter where you are. Conditional alerts can even inform you when select assets change in price or reach a price target.
• Full stock screening capabilities: In addition to a holistic set of analysis tools and charting options, Moomoo also gives investors access to a full-service stock screener. This is particularly useful for scalpers and day traders looking to analyze volume changes and movements before the market opens for the day.
• Cash Sweep Program: Get a 5.1% APY1 + Extra 3% APY2 (for 3 months) in the Cash sweep program (Offer ends in July 31, 2024)
• No commission: Save when you trade stocks and ETF trading

You may appreciate Moomoo's mobile app if you're looking for a comprehensive mobile trading experience that doesn't cut or water down features from its desktop offering. 

Why Moomoo Might Not Be Right for You

Though Moomoo offers a range of benefits, it doesn't provide an all-in-one platform that's appropriate for all investors. If you value any of the following features, you'll want to choose another broker.

• No access to cryptocurrency markets: Though many investors' eyes have been on major exchanges like the New York Stock Exchange and the NASDAQ, the cryptocurrency market has also made waves. If you're interested in the cryptocurrency market or you think that you might want to invest in assets like Bitcoin or Ethereum alongside your stocks and ETFs, you'll need to pick a broker that offers access to cryptocurrency trading. Moomoo currently doesn't support any type of cryptocurrency investing through its platform.
• Simple account management and order placements: Though Moomoo does an amazing job offering a comprehensive desktop and mobile platform, its wealth of tools and analysis options can overwhelm new investors. If you've never traded before and you're okay with sacrificing some advanced features in favor of the easiest-to-master platform possible, Moomoo may not be the best choice for you.

You can tap into a number of alternative brokers if Moomoo isn't right for your unique needs. 

Frequently Asked Questions