Qtrade and Moomoo are two leading online stock trading platforms. Both offer low-cost trading of stocks, ETFs and more, and they both have user-friendly online and mobile trading apps.
But which broker is the better option for you? Keep reading as we compare Qtrade vs Moomoo to find the best brokerage platform.
| Qtrade | Moomoo | |
|---|---|---|
| Founded in | 1999 | 2018 |
| Best for | Go with this platform if you want $0 commission trading and impressive research and analysis tools | Go with this platform if you want advanced tools and market data to suit active traders |
| Stock and ETF trading fees | $0 | $0.0149/share if stock price ≥ $1, or $0.0015/share if stock price |
| Minimum deposit | $0 | $0 |
| Deposit methods |
|
|
| Withdrawal methods |
|
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| Fractional shares | No | No |
| After-hours trading | Yes, pre-market trading on US exchanges from 8:30 to 9:29am and post-market trading from 4:00 to 5:00pm | Yes, for over 22 hours on trading days |
| Customer support | Available via phone, email and live chat | Available via live chat (24/7), phone and email |
| Get started |
Qtrade is a Canadian online investing platform owned by Aviso Wealth. Founded in 1999, it offers self-directed investing as well as a robo-advisor service.
Sign up for a Qtrade account and you can trade stocks and ETFs commission-free, plus access other investments like bonds, options and GICs. The platform is also known for its stock research and portfolio analytics tools, making it easy for you to choose and manage your investments.
Moomoo is an online brokerage platform that operates in several countries around the world, including Canada. A subsidiary of Hong Kong-based Futu Holdings, it offers access to Canadian and US markets for stock, ETF and options trading.
With key features like advanced charting tools and free Level 2 market data, Moomoo is well suited to active traders. It also offers a highly-rated mobile app for trading on the go.
What do you want to trade? Are you just looking to buy and hold a select few ETFs, or do you want to actively trade a wide range of stocks and options?
The winner of the Qtrade vs Moomoo debate will need to provide access to all the assets and markets you want to trade, so here’s a breakdown of what each broker offers.
Who’s the winner?Qtrade offers more choice.
| Fee type | Qtrade | Moomoo |
|---|---|---|
| Account fee | $0 | $0 |
| Trading fees |
|
|
| Management fee | 0.60% – 0.35% | N/A |
| Currency conversion fee | varies based on volume converted | 0% |
| Deposit fee | $0 | $0 |
| Withdrawal fee | $0 | Free withdrawals for both EFTs and $50 for wire transfers |
| Inactivity fee | $0 | $0 |
| Account transfer fee | $150 | $75 |
Who’s the winner?Qtrade, thanks to its $0 commission trading.
Qtrade supports a wide range of account types:
The range isn’t quite as extensive on Moomoo, which supports cash and margin accounts, RRSPs, Spousal RRSPs and TFSAs. Other accounts such as FHSAs are not available.
Who’s the winner?Qtrade offers a wider range of account types.
Don’t have the time or knowledge to research and choose investments? A broker that offers a robo-advisor service could be the answer to your problems.
Qtrade offers its Guided Portfolios robo-advisor service, which matches you with an ETF portfolio based on your financial goals and risk tolerance. There are 6 portfolios available—Income, Income & Growth, Balanced, Growth & Income, Growth and Maximum Growth—and they feature stocks and bonds from Canada, the US and around the world.
Meanwhile, Moomoo does not offer any managed portfolios and is entirely focused on self-directed investing.
Who’s the winner?Qtrade is the clear winner here.
If you want to invest in US stocks and ETFs, currency conversion costs can have a big impact on your bottom line.
Happily, Qtrade and Moomoo both support USD-denominated accounts, which means you can hold funds and settle trades in USD. This allows you to avoid being slugged with FX fees every time you make a trade.
Qtrade offers support for Norbert’s Gambit so you can save money on CAD/USD exchanges. However, it’s worth noting that some USD registered accounts (like RRSPs and TFSAs) with Qtrade have a USD$15 quarterly fee.
Moomoo accounts support both CAD and USD. And when you need to convert funds between the two currencies, there’s no currency exchange fee to worry about.
Who’s the winner?Moomoo has the advantage here.
Margin trading is when you borrow money from your broker to fund your trades. This gives you increased buying power, but it also increases the level of risk involved.
Qtrade and Moomoo both offer margin accounts in CAD and USD. As the table below shows, Moomoo generally offers lower margin interest rates than Qtrade. It also offers a host of other features to suit day traders, like detailed market data and pro-level charting tools.
| Qtrade | Moomoo | |
|---|---|---|
| CAD | 5.20% – 6.00% | CAD margin rate: 3.85% - 4.45% |
| USD | 7.50% – 8.30% | USD margin rate: 6.40% -7% |
Who’s the winner?With competitively low margin interest rates, Moomoo takes the win here.
It’s difficult to do a direct comparison of the investor experience with Qtrade and Moomoo, simply because they offer features designed to suit different target audiences.
Qtrade is more of a traditional brokerage platform. It’s clean and easy to use, boasts a wide range of stock research tools, and offers handy portfolio analytics. And as a Canadian platform, it offers features that suit Canadian users, such as support for a wide range of registered accounts. For casual investors and anyone looking to buy and hold for the long term, it’s an impressive package.
Moomoo is better suited for advanced traders. In fact, some of its advanced features may seem a little overwhelming for beginners. But where it excels is with its feature-packed desktop and mobile trading platforms, its advanced order types, and its professional-grade charts. So if you’re searching for a highly functional day trading platform, there’s a lot to like about what Moomoo has to offer.
Who’s the winner?For casual investors, Qtrade offers a better experience. For active traders, Moomoo comes out on top.
If you’re just starting out as an investor, Qtrade and Moomoo both provide online education centres with lessons and articles to take you through the basics of investing. Both platforms also provide plenty of resources to help you research and choose investments.
Qtrade offers stock screeners, Morningstar analyst recommendations, and technical and fundamental research. We also appreciate its suite of portfolio analytics tools, like Portfolio Score for assessing the overall performance of your investments and Portfolio Creator to help you choose ETFs based on your financial goals.
Moomoo also has a long list of useful research features, including advanced charts with over 100 technical indicators and more than 50 drawing tools. You can use the Moomoo AI bot to detect trade signals, take advantage of AI stock analysis, and use a variety of screeners to narrow down your investment choices.
Who’s the winner?It’s a tie, as once again these brokers excel in different areas. Qtrade is good for fundamental research and third-party expert analysis, while Moomoo shines for its range of charting tools, technical indicators and market data.
The best trading platform for you must be properly regulated in Canada, and that’s one box both Qtrade and Moomoo tick. Both brokers are regulated by the Canadian Investment Regulatory Organization (CIRO), and both are members of the Canadian Investor Protection Fund (CIPF) for added peace of mind.
Who’s the winner?It’s a tie. Both platforms are legit, regulated brokerages.
In-depth market data is critical to inform your investing decisions, especially if you’re an active trader.
Qtrade users can access Level 2 data quotes for Canadian exchanges. If you want Level 2 market data for US stocks, you’ll need a subscription, but you can access a fee discount off Quotestream data plans.
Meanwhile, one of Moomoo’s key selling points is free Level 2 data for US and Canadian stocks. This provides you with up to 60 levels of real-time market depth, allowing you to trade based on up-to-the-second data.
Who’s the winner?Moomoo comes out on top here.
If you prefer to trade from your smartphone, both brokers have you covered.
The Qtrade Direct Investing mobile app offers a relatively streamlined user interface and is reasonably easy to navigate right away. You can use the app to get real-time quotes, view charts, place trades, access expert ratings and create stock watchlists. If you’re a beginner, it won’t take you long to get comfortable using the app to trade and monitor your portfolio.
The Moomoo app is feature-packed and designed for active traders, so beginners might find the sheer range of information and features on offer a little overwhelming. But experienced traders will appreciate highlights like real-time options chains, advanced charts with over 100 technical indicators, and easy access to AI insights. The app is highly customizable too, allowing you to tailor your dashboard to suit your personal preferences.
| Qtrade | Moomoo | |
|---|---|---|
| Apple App Store rating |
3.7 –
★★★★★ 441 reviews |
4.7 –
★★★★★ 712 reviews |
| Google Play rating |
4.0 –
★★★★★ 397 reviews |
4.4 –
★★★★★ 100 reviews |
Who’s the winner?Moomoo. The higher user ratings for the Moomoo app get it over the line here.
Fractional shares let you start your investing journey with an amount as little as $1. Unfortunately, neither Qtrade nor Moomoo offers fractional share trading for Canadians. Moomoo does offer fractional trading in some other countries where it operates, but this feature is not available in Canada.
Automating your investments saves you time and takes away the guesswork of trying to time the market. Moomoo’s AutoBuy feature lets you set up recurring purchases of eligible Canadian and US stocks and ETFs on a daily, weekly or monthly basis, with a minimum investment of $10.
Qtrade allows you to set up automatic recurring contributions to your investing account, but it doesn’t offer recurring stock or ETF purchases.
Qtrade users can trade via its mobile app or using its web-based trading platform, but Moomoo also offers a downloadable desktop app. This app provides a customizable workspace and access to advanced charting tools with a host of technical indicators. It’s free to download from the Moomoo Canada website.
The best platform for you depends on the type of investor or trader you are.
If you’re a casual investor looking for an easy-to-use, commission-free stock trading platform, Qtrade is the winner.
If you’re an active trader looking for advanced charting tools and market data, Moomoo is the winner.
Read our full Questrade review
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