Questrade and Moomoo are both discount brokers that offer low-cost online stock and ETF trading. They’re easy to use, support free deposits and withdrawals, and offer a wide range of tools to help you start trading today.
But which platform is better? Let’s compare Questrade vs Moomoo to find out.
Questrade vs Moomoo: An overview
Questrade
Moomoo
Founded in
1999
2018
Best for
Go with this platform if you want commission-free trading and access to a wide range of securities
Go with this platform if you’re an active trader who wants advanced market data and charting tools
After-hours trading
Yes, 22 hours a day for 5 days a week for US-listed stocks and ETFs
Yes, for over 22 hours on trading days
Minimum deposit
Self-directed investing account: $0
Questwealth portfolio: $250
$0
Fractional shares
Yes, for eligible US securities
No
Customer support
Available via phone, email, live chat and in person at Questrade’s North York location
Questrade is a Canadian discount brokerage where you can trade Canadian and US stocks, ETFs and other assets online. Founded in 1999 and headquartered in Toronto, Questrade offers zero-commission stock and ETF trading. You can trade online, on your mobile or using a desktop app, and Questrade offers separate platforms to suit beginners as well as advanced traders.
In addition to self-directed investing, Questrade also offers a robo-advisor service with its Questwealth portfolios. Once you answer questions about your financial goals and risk tolerance, you’ll be matched with an ETF portfolio that suits your investing needs.
What is Moomoo?
Founded in 2018, Moomoo is an online stock trading and investing app. Owned by Hong Kong-based fintech company Futu Holdings, Moomoo offers trading services in several countries around the world including Canada, the United States and Australia.
In Canada, Moomoo offers low-fee trading of Canadian and US stocks and ETFs as well as US options. You can trade online, via a mobile app, or using a desktop platform.
Questrade vs Moomoo: Investment products
The right trading platform for you will provide access to all the investment products you want to trade. Here’s a quick rundown of what you can invest in with Questrade and Moomoo.
Questrade
Canadian and US stocks
Canadian and US ETFs
IPOs
International equities
Mutual funds
Bonds
GICs
Options
Forex
CFDs
Precious metals
Gold (coming soon)
Moomoo
Canadian and US stocks
Canadian and US ETFs
US options
Who’s the winner?
Questrade. provides access to a much wider range of tradeable assets.
Questrade vs Moomoo: Fees
Fee Type
Questrade
Moomoo
Account fees
$0
$0
Trading fees
Stocks: $0
ETFs: $$0
Options: $0 + $0.99 per contract
Precious metals: $19.95 USD/trade
Bonds, IPOs and GICs: $0 (min. $5,000 purchase)
Mutual funds: $9.95/trade
Some ECN fees may apply
International equities: 1% of trade value with a minimum of $195
Free USD/CAD trading account
Canadian stocks and ETFs: $0.0149/share if stock price ≥ $1, or $0.0015/share if stock price
US stocks and ETFs: US$0.0099/share if stock price ≥ $1, or US$0.001/share if stock price
US options: $0.65/contract (min. $1/order)
Management fee
0.2%–0.25%
N/A
Currency conversion fee
1.5%
0%
Withdrawal fee
$0 (up to $50,000 CAD or $25,000 USD)
Free withdrawals for both EFTs and $50 for wire transfers
Deposit fee
$0
$0
Inactivity fee
$0
$0
Account transfer fee
$150
$75
Who’s the winner?
Questrade. While Moomoo’s fees are low, they don’t beat Questrade’s $0 commission trading.
Questrade vs Moomoo: Account types
Questrade offers a wide variety of account types to Canadian investors, including:
Cash trading accounts
TFSAs
FHSAs
RRSPs
RESPs
RRIFs
LIRAs
LIFs
Margin accounts
Corporate accounts
Moomoo only supports a more limited range of account types. In addition to cash and margin accounts, you can invest through an RRSP, Spousal RRSP or a TFSA.
Who’s the winner?
Questrade. supports more account types.
Questrade vs Moomoo: Managed portfolios
Prefer to have someone else do the hard work of choosing and managing your investments? Questrade offers its range of Questwealth portfolios, which provide access to a basket of ETFs based on your financial goals and how much risk you’re willing to accept.
Portfolio options are Aggressive Growth, Growth, Balanced, Income or Conservative, while there are also socially responsible investment portfolios available. Management fees range from 0.20% to 0.25% depending on your investment balance.
Meanwhile, Moomoo offers self-directed investing only, with no curated portfolios available.
Who’s the winner?
Questrade. Moomoo does not offer a robo-advisor service.
Questrade vs Moomoo: USD accounts
With some brokers, you need to open a separate USD account if you want to invest with US dollars in securities listed on US exchanges. That’s not the case with Questrade, where your account supports investing in Canadian and US dollars. This means you can avoid forced currency conversions when trading. Questrade also supports share journalling, which is commonly known as Norbert’s Gambit, that costs $9.95 per request for regular users but is free with Questrade Plus.
It’s a similar story at Moomoo, where cash, margin and TFSA accounts are all able to hold USD as well as CAD. Moomoo’s foreign exchange spreads are usually quite competitive too, so it’s typically cost-effective to move between currencies. However, Moomoo RRSPs accept CAD deposits only.
Who’s the winner?
Questrade offers more accounts that accept USD.
Questrade vs Moomoo: Margin accounts
A margin account lets you borrow money from your broker and use it to invest in stocks and other assets. And if you want to trade on margin, Questrade and Moomoo have both got you covered.
Questrade supports margin accounts for individuals, couples and corporations. You can trade stocks, ETFs, mutual funds, options and bonds, while short selling is also available. Questrade also offers a Margin Power feature that allows you to tap into the equity in your TFSA and use it as collateral for margin trading.
Questrade’s margin interest rates are shown in the table below.
Up to $100,000 debit balance
$100,000+ debit balance
CAD non-registered accounts
8.70%
7.70%
CAD registered accounts (RRSP, TFSA etc.)
12.55%
12.55%
USD non-registered accounts
11.25%
10.25%
USD registered accounts (RRSP, TFSA etc.)
15.10%
15.10%
Moomoo only supports individual margin accounts, but it offers real-time alerts to help you keep track of your margin balances. It also offers competitive margin interest rates starting as low as 3.85%.
Check the table below for Moomoo’s margin interest rates.
Currency
Tier
CAD
$0 – $100,000: 4.45%
> $100,000: 3.85%
USD
$0 – $100,000: 6.75%
> $100,000: 6.15%
Who’s the winner?
Moomoo. While we like Questrade’s Margin Power feature, Moomoo’s lower interest rates see it take the win here.
Questrade vs Moomoo: Investor experience
One key factor to remember when comparing Questrade and Moomoo is that these two brokers have different target audiences.
Questrade is easily accessible for new investors looking to take a buy-and-hold approach to investing. Its online and mobile trading platforms are user-friendly and intuitive, and it offers plenty of educational resources to help you increase your trading knowledge.
Questrade also offers tools to suit more experienced investors with its Edge trading platform. Edge brings advanced order types, charting tools, and a customizable workspace, with plenty of other features for active trading.
But day traders can find plenty to keep them happy with Moomoo. It offers professional-grade charting tools and Level 2 market data for no extra cost, and technical analysis data from over 100 indicators. There are dozens of drawing tools and stacks of customization options too, allowing Moomoo users to tailor a trading experience to suit their needs.
Who’s the winner?
It’s a tie. Both platforms offer an impressive user experience, but for different types of investors.
Questrade vs Moomoo: Learning and research tools
If you want to learn more about investing, Questrade offers a range of platform tutorials and online lessons on different investment concepts and strategies. It offers plenty of resources to help you research your trades too, including charting from TradingView, portfolio management from Passiv, TipRanks stock ratings, SeekingAlpha analysis and much more.
Moomoo provides access to Morningstar ETF ratings, Wall Street analyst ratings, and detailed stock and ETF screeners. Advanced charts provide access to over 100 technical indicators and more than 50 drawing tools, and Moomoo also offers over 600 educational courses to help improve your trading knowledge.
Who’s the winner?
It’s a tie. Both platforms offer a wealth of resources to help boost your trading knowledge.
Questrade vs Moomoo: Canadian regulatory bodies
Questrade and Moomoo are both members of the Canadian Investment Regulatory Organization (CIRO), the body responsible for overseeing investment dealers.
Both platforms are also members of the Canadian Investor Protection Fund (CIPF). This ensures that up to $1 million of coverage is available for customers if either of these brokers becomes insolvent.
Who’s the winner?
It’s a tie. Both platforms are regulated and offer the peace of mind of insurance protection.
Questrade vs Moomoo: Security features
Questrade employs several security layers to safeguard client accounts. These include suspicious activity alerts, biometric login, and the use of DigiCert digital certificates for secure and encrypted transactions. Multi-factor authentication is supported too, and Questrade also has an Online Security Guarantee and promises to reimburse customers for any unauthorized transactions.
Moomoo also has several layers of security measures in place to protect your funds. It supports two-factor authentication and provides real-time fraud detection alerts, while end-to-end encryption of bank account integration is also provided. Other features include requiring authentication when you log in from a new device, requesting a trading password before placing any orders, and locking your asset information away behind your trading password.
Who’s the winner?
Questrade. Both platforms offer robust security features, but we like the added protection of Questrade’s Online Security Guarantee.
Questrade vs Moomoo: Market data
Level 2 market data provides an in-depth, real-time look into the entire market order book, giving you detailed information about liquidity, supply and demand, and market trends. That’s why it’s a very important feature for active and advanced traders.
On Questrade, you’ll need a paid data package or individual market data add-on to get Level 2 market data. Meanwhile, Moomoo provides free real-time Level 2 market data for Canadian and US markets. This real-time data is easily accessible in the Moomoo app once you have signed up for an account.
Who’s the winner?
Moomoo offers free access to Level 2 real-time market data.
How do the mobile apps for Questrade vs Moomoo compare?
As you’d expect, both brokers offer mobile apps for Android and iOS devices.
Questrade has two main apps: QuestMobile, its standard trading platform, and Questrade Edge Mobile for advanced trading. Both apps are highly rated and pretty easy to use, with the Edge Mobile app providing access to high-end features like advanced order types and full-screen charting.
Moomoo’s app has also earned positive user feedback. It offers advanced order types and a variety of pro-level tools, along with easy access to Level 2 market data and over 100 charting tools. The busy user interface might be a little overwhelming for new investors, but experienced traders should feel right at home.
QuestMobile
Questrade Edge Mobile
Moomoo
Apple App Store rating
4.7 –
★★★★★
19,290 QuestMobile reviews
4.6 –
★★★★★
4,860 Questrade Edge Mobile reviews
4.7 –
★★★★★
712 reviews
Google Play rating
4.6 –
★★★★★
12,201 QuestMobile reviews
4.4 –
★★★★★
4,191 Questrade Edge Mobile reviews
4.4 –
★★★★★
100 reviews
Who’s the winner?
Questrade offers apps to suit beginners as well as advanced traders and has picked up thousands of positive customer ratings.
Other features we like about Questrade vs Moomoo
Earn interest on your uninvested balance
If you’ve got Canadian or US dollars sitting in your Moomoo account while you wait for an investment opportunity to arise, you can earn 2% interest on that uninvested cash. There’s no minimum balance requirement with this Cash Sweep program, and you don’t need to lock away your funds for a fixed period.
Questrade does not offer this feature.
Practice accounts
If you want to test your trading strategies before putting them into action with real money, Moomoo offers a paper trading account.
This simulator allows you to practice trading stocks, ETFs and options with virtual money in real market conditions.
Questrade users can test out trading strategies by connecting their account to TradingView and taking advantage of the third-party platform’s paper trading capabilities. Questrade Global, the broker’s forex and CFD trading platform, also has a practice account.
AI assistance
AI is increasingly making its mark in the investing space, and Questrade and Moomoo both offer their own AI assistance tools. Questrade is integrating AI as part of Questrade Pro, its new web-based platform for advanced traders that is currently in its beta phase. Pro Intelligence is its AI assistant, and it allows you to research investments by asking plain-language questions. Auto pattern detection, an options trade idea finder, and the TipRanks Smart Score AI-driven stock rating system.
Moomoo also offers its own suite of AI tools. Moomoo AI is a 24/7 trading bot that can answer your questions about the market and help you analyze trade signals. AI stock analysis and trend projection are also available, along with AI summaries of company announcements and earnings updates.
Auto invest
Dollar-cost averaging allows you to automate your investments, relying on purchasing stocks at regular intervals rather than trying to time the market. Questrade and Moomoo both allow you to set up automatic recurring investments.
On Questrade, you can do this by linking your bank account and setting up a weekly, bi-weekly or monthly pre-authorized deposit.
On Moomoo, you set up an AutoBuy Plan to invest daily, weekly or monthly, with a minimum purchase of $10 a month.
Custom indexing
Questrade offers a custom indexing feature that allows you to customize an index to suit a specific investing strategy. Choose an index from a range of available templates, such as a broad market index or one that targets a particular theme, and then adjust stock and sector holdings to suit your requirements. And if you ever need to rebalance your portfolio, this can be done with a single click.
What does Reddit think of the Questrade vs Moomoo debate?
The general consensus on Reddit is that out of the two platforms, Questrade is better for long-term investors while Moomoo is suitable for active and day traders.
Questrade receives praise for its zero-commission trading, user-friendliness, affordable CAD/USD exchanges and its support for a wide range of registered account types. Moomoo wins plaudits for offering free Level 2 market data, an attractive UI for frequent traders, and as a competitive options trading platform.
Who’s the final winner?
Questrade and Moomoo both have plenty of selling points, but they’re designed for different types of investors. Questrade will likely be the better choice for more people because it’s easily accessible for beginners but also offers tools that experienced traders can take advantage of.
If you have a buy-and-hold strategy and you’re investing for the long-term, Questrade is the winner.
Interactive Brokers is a trading platform and app that’s loaded with features for active traders. It lets you trade stocks, ETFs, options, futures, forex and more, and it provides huge global access to over 170 global markets. Interactive Brokers offers online, mobile and desktop trading platforms too, with different products available to suit beginners as well as lots of pro-level tools for experienced traders.
Qtrade Direct Investing is another leading Canadian broker that offers $0 commission trading. You can use this platform to access Canadian and US stocks, ETFs, options, bonds and more, and you can trade online or via a mobile app. Qtrade also offers a long list of research and analysis tools to help inform your investment decisions, including stock screeners, an ETF portfolio creator, analyst recommendations, and customized charting and technical analysis tools.
CIBC Investor's Edge is a Big Bank-backed trading platform for self-directed investors. It lets you trade stocks, ETFs, options and a variety of other assets, and it supports a wide range of registered and non-registered accounts. Trading commissions apply, but there are discounts available for students, young investors and active traders. And with a stack of research and analysis tools at your fingertips, Investor’s Edge makes it easy to explore new investment opportunities.
Wealthsimple is a fintech that offers a variety of financial products to Canadians, all of which can be managed through a user-friendly mobile app. Wealthsimple supports Canadian and US stock and ETF trading, while you can also use the platform to invest in crypto, options and even physical gold. Other features include zero commissions, support for a variety of registered accounts, and a robo-advisor service.
Frequently asked questions about Questrade vs Moomoo
It depends on what you're looking for in a trading platform. If you're a day trader who wants to trade options and you need a platform with Level 2 market data and advanced charting tools, Moomoo may be a better fit for you than Questrade. But if you're a beginner looking for a user-friendly and fee-free way to start investing, Questrade could be the best match.
There are a couple of factors to consider when deciding whether Questrade is the right broker for you. One is that you'll need to pay a monthly subscription fee to access real-time streaming market data, and the other is that some investments (like IPOs and bonds) have a high minimum investment of $5,000. Questrade also does not yet offer fractional share trading for Canadian stocks, and it does not support crypto trading.
Moomoo is best suited for advanced traders, so beginners may find some of the charting tools and advanced market data the platform provides unnecessary or even overwhelming. It's also worth noting that Moomoo offers access to US and Canadian stocks and ETFs as well as US options, while some other platforms allow you to trade a much wider range of assets and markets.
Questrade operates exclusively in Canada, so you'll need to be a Canadian resident to open an account. But Moomoo also operates in multiple other countries around the world, including the United States, Australia, Singapore and Japan.
Sources
Important information: Powered by Finder.com. This information is general in nature and is no substitute for professional advice. It does not take into account your personal situation. This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for most investors. You do not own or have any interest in the underlying asset. Capital is at risk, including the risk of losing more than the amount originally put in, market volatility and liquidity risks. Past performance is no guarantee of future results. Tax on profits may apply. Consider the Product Disclosure Statement and Target Market Determination for the product on the provider's website. Consider your own circumstances, including whether you can afford to take the high risk of losing your money and possess the relevant experience and knowledge. We recommend that you obtain independent advice from a suitably licensed financial advisor before making any trades.
Tim Falk is a freelance writer for Finder. Over the course of his 20-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors.
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