Contributor, Benzinga
November 6, 2023

With so many brokers out there, you are probably asking yourself which one is right for you. The answer to this question depends on your needs as an investor. With so many ways to invest, different brokers suit different users. While moomoo and Webull offer unique benefits, the one you choose will depend upon factors such as your skill level, strategy, and goals. Our comparison guide will help you compare Moomoo and Webull in several important areas for retail investors.

Comparing Investment Platforms

Let's take a deeper look at Moomoo and Webull offerings.

Fees

Like many brokers, Moomoo offers zero-commission trading on the purchase and sale of U.S. stocks and American Depository Receipts (ADRs). You’ll also pay $0 in account maintenance and platform fees, and you’ll even have access to $0 commissions on options trades.

Webull also offers commission-free trading on U.S. stocks, ETFs, and options. However, it only offers access to U.S.-based markets, such as the New York Stock Exchange and the NASDAQ. This makes Webull comparable to Moomoo in terms of U.S. investments, but at a disadvantage for investors who are looking to invest in Asian markets.

Both Webull and Moomoo offer access to margin trading. Moomoo charges a flat rate of 6.8% interest on long margins for U.S. stocks, regardless of how much margin you use. Rates are higher for China-A shares.

Webull offers variable margin rates depending on the total amount of leverage you use. Annual margin rates vary between 5.74%-9.74%, with the most favorable rates extended to investors with a debit balance of more than $3 million. Both Moomoo and Webull charge variable margin rates for short selling.

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Webull offers variable margin trading, which can be more affordable for investors with higher debit balances. 

Round 1: moomoo

Though both platforms offer commission-free investments on U.S. assets, moomoo’s affordable access to Asian market exposure gives it an edge in this area. Moomoo also offers more affordable margin trading, assuming that your total debit balance is less than $3 million.

Get Started with Moomoo

Accounts and Features

Both Webull and Moomoo offer investors a generous selection of account analysis and trading tools. Some of our favorite features offered by Moomoo include:

  • 5.1% APY cash sweep: moomoo provides 5.1% APY, which is one of the highest rates by a current broker in the market. The program is completely free to join with $0 user fee and zero account management fee. There’s also a temporary boost of 3.0% to 8.1% for qualified users.
  • No commission: $0 to trade stocks and ETF trading
  • Free real-time Level 2 market data: moomoo provides investors with free access to real-time Level 2 market data, which is only included as a paid option with most other brokers. This data gives you access to real-time bids and asks for any stock of your choice.
  • Custom stock screener: moomoo’s stock screener allows you to sort opportunities based on 100+ indicators and dozens of filters like market capitalization, percentage change, and more.
  • Option price calculator: moomoo allows investors quickly estimate theoretical values using carious models and real-time greeks.
  • 24/7 news: moomoo provides the latest market and company news from 50+ popular and premium sources.
  • Information on upcoming IPOs: moomoo includes information on upcoming initial public offerings (IPOs), allowing investors to plan ahead and mark down the dates of offerings they’re interested in without leaving their brokerage platform.
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Webull also offers many of the same features you’ll see with moomoo. Some of our favorite features unique to Webull include:

  • Crypto market access: In addition to charting U.S. markets and global forex, Webull also provides investors with information on how cryptocurrency markets are moving in real-time.
  • Voice trading commands: Webull makes it easy to place trades on-the-go with voice commands. Simply open your app and use simple voice commands like “buy” or “search” to manage your investments hands-free.

Round 2: moomoo

With rich, customizable tools and a wealth of free market data, even the most experienced investors will find something new with moomoo. While Webull’s tools and account features are advanced, moomoo comes out ahead for its higher APY cash sweep, free Level 2 market data, customizable alerts, and more.

Mobile App

Webull and moomoo both offer a free mobile app for both Android and Apple mobile devices, as well as each company’s respective tablets. Both the Webull mobile app and the moomoo mobile app incorporate many of the same charting and analysis tools available through the desktop platforms. From order placement to cash flow trends, each broker maintains a user-friendly app that offers convenient trading.

Round 3: Tie 

Both Webull and moomoo provide impressive charting and research options on mobile, mimicking full-desktop functionality. Although both brokers offer a few different tools, the mobile experience is streamlined and easy on both platforms. We also love that both platforms provide tablet traders with a native app formatted to the larger screen.

Customer Support

Moomoo currently offers 24/7 support as well, and clients can contact their customer service team through phone calls, e-mails or via chatbot

  • By email: To contact Moomoo by email, users can send a message to cs@us.moomoo.com. For the most prompt response, the platform recommends that you also include a screenshot of the issue you’re having and your Moomoo ID with your inquiry.
  • By phone: To contact moomoo’s customer service department by phone, users can call +1 888 721 0610 during the trading days: 8:30 - 16:30 ET
  • By SMS: To contact moomoo’s customer service department by sms, users can send to +1 (628) 244-9888 during trading days: 24h; Non-trading days: 7am-12am

Webull offers two methods of customer support:

  • By phone: To contact Webull’s customer service department by phone, users can call 888-828-0618. Webull says that it provides 24/7 customer service support.
  • By email: To contact Webull’s team by email, users can send a message to customerservices@webull.us.

Both companies provide a well-researched FAQ section, which details some of the most common questions investors might have when using each individual platform. Moomoo’s Help Center includes 8 categories of inquiries, ranging from account funding questions to information on Pattern Day Trading rules set by the Securities and Exchange Commission (SEC). Webull’s FAQ section includes 13 inquiry categories and provides more detailed information on common market questions in addition to a wide selection of questions on platform fees and usage.

Round 4: tie 

Both Moomoo and Webull provide phone support, 24/7 customer service support and a complete Help Center to solve clients' problems

Ease of Use

Moomoo allows clients to download the broker’s desktop app or use its mobile interface, both of which provide you with similar tools. Getting started with Moomoo is also easy, and account setup is available in a little under 5 minutes. Moomoo also offers paper trading access, which allows you to simulate your trades without committing any of your own money.

Before you can access any of Moomoo’s tools or test its platform, you’ll need to create an account and provide your personal information to the broker. Once provided, you can access paper trading with FREE virtual money. Moomoo also provides deeper analysis tools when simulating trading.

Webull takes steps to ensure that the platform is easy to use and operate, combining complex analysis tools with simple signups. Getting started opening a Webull account takes as little as 5 minutes for most users. By simply entering your email address or mobile number, and key personal information, you’ll be ready to start funding your account.

Webull also makes it simple to practice using its tools and platform before you commit any of your own funds or even decide to open an account. You can create a demo account that allows you to test out Webull’s functionality without investing any of your money. Webull even offers paper trading competitions and a robust community to assist you in starting.

Round 5: tie 

Though Moomoo and Webull are both exceptionally easy to begin with, Webull is more streamlined and simplified for desktop and mobile platforms. However, more advanced traders and investors can better utilize the wider range of analysis and investment management tools available through moomoo.

Moomoo vs. Webull: So Which Broker is Better?

So, which company should you choose, Webull or moomoo? 

Webull focuses on combining its affordability with easy-to-use. Its desktop platform is well-organized, and you can test it out before you create an account. Although both brokers offer free commissions on U.S.-based stock, ETF and ADR investments, only moomoo offers access to Asian assets and Cash Sweep with 5.1% APY.  If you’re an investor looking for a wide selection of free research and charting tools, then moomoo will be the right choice for you. While WeBull enables you to begin easier, moomoo is best for a long-term financial journey.

Frequently Asked Questions

Q

Can I day trade on Moomoo?

A

When you have more than $25,000 and are flagged as a pattern day trader, you can day trade for an unlimited number of times if you have sufficient day-trading buying power (DTBP).

Q

Are there any hidden fees on Webull?

A

Webull charges no hidden fees on any accounts.

Q

How trustworthy is Moomoo?

A

Moomoo is considered to be a safe investment platform.

About Sarah Horvath

Sarah is an expert in the insurance, investing for retirement and cryptocurrency space.