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5 Moomoo alternatives worth a look

Moomoo offers commission-free trades, but these 5 alternatives may offer more investment options.

Moomoo provides several perks, including powerful research tools and commission-free trades. But there are alternatives that also offer what the app lacks including a wider investment selection, multiple account types and multichannel customer support. Here are five apps like Moomoo to consider.

Moomoo alternatives

Robinhood

Robinhood

4.6 / 5 ★★★★★

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Robinhood is another Moomoo alternative offering commission-free trades of stocks and ETFs. But unlike Moomoo, you can use the Robinhood app to trade cryptocurrency. Plus, Robinhood doesn't charge commissions on crypto trades. Trade Bitcoin, Ethereum, Dogecoin and more. However, Robinhood doesn't offer the same intuitive research tools that Moomoo offers. It may be helpful to have both apps.
Account typesBrokerage, IRA, Margin
Annual fee$0 per year
Available asset typesStocks, Options, ETFs, Cryptocurrency

SoFi Invest

SoFi Invest®

4.3 / 5 ★★★★★

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Moomoo is a great app for active traders. But it doesn't offer much for passive ones. Enter SoFi Invest®. This app offers an automated investing account that uses a computer algorithm to build, manage and rebalance your portfolio. These automated portfolios or robo-advisors are built with low-fee ETFs from major providers like Vanguard and BlackRock. And for those who want to pick their own stocks, SoFi offers an active investing account. No-fee commission stocks and ETFs.
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE

Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees.

Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org).

There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event.

Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options

Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser.

Utilizing a margin loan is generally considered more appropriate for experienced investors as there are additional costs and risks associated. It is possible to lose more than your initial investment when using margin. Please see https://www.sofi.com/wealth/assets/documents/brokerage-margin-disclosure-statement.pdf for detailed disclosure information

Probability of Member receiving $1,000 is a probability of 0.028%

Terms and conditions apply. Roll over a minimum of $20K to receive the 1% match offer. Matches on contributions are made up to the annual limits.

For full promotion terms please visit: https://www.sofi.com/acatoffer. SoFi does not accept cryptocurrencies and has limitations on some mutual funds and OTC stocks. Brokerage and Active Investing Products offered by SoFi Securities, LLC, Member FINRA/SIPC.

Robo Advisor:
Automated investing is offered through SoFi Wealth LLC, an SEC-registered investment adviser.
0.25% fee is based on your account value. The wrap program fee may cost more or less than purchasing brokerage, custodial, and recordkeeping services separately.
Account typesBrokerage, IRA
Annual fee$0 per month
Available asset typesStocks, Options, Mutual funds, ETFs, Alternatives

Webull

Webull

4.7 / 5 ★★★★★

Webull is a Moomoo alternative that also stands out for its intuitive app and robust research tools. webull delivers stock screeners, charts, graphs and more through a sleek interface on desktop and mobile. You can also use the Webull app to trade commission-free stocks, ETFs and options. But Webull takes it a step further by adding cryptocurrency. The broker also offers traditional, Roth and rollover IRAs. And unlike many brokers, WeBull also provides a paper trading platform. This lets you practice your investing skills with virtual money, so you won't spend a dime until you feel ready.
Account typesBrokerage, IRA
Annual fee$0 per month
Available asset typesStocks, Options, ETFs, Cryptocurrency

Fidelity

Fidelity Investments

4.6 / 5 ★★★★★

Moomoo alternative Fidelity Investments also offers robust research tools along with commission-free stocks, ETFs and options. However, Fidelity picks up nearly everything Moomoo drops. Fidelity offers the same asset types Moomoo does. But Fidelity also lets you invest in bonds, precious metals and thousands of mutual funds with no expense ratios.
Account typesBrokerage, IRA, Custodial, Joint brokerage, Trust
Annual fee$0 per year
Available asset typesStocks, Bonds, Options, Mutual funds, ETFs, Cryptocurrency, Gold/Commodities, CDs, Treasury Bills

Merrill Edge

Merrill Edge Self-Directed

4.1 / 5 ★★★★★

Full-service broker Merrill Edge offers something for all types of investors from beginners to advanced day traders. Like Moomoo, Merrill Edge offers commission-free stocks, ETFs and options. But Merrill Edge's investment lineup also includes mutual funds, managed accounts and more. You'll also have access to robust trading tools. Plus, Merrill Edge customer service is available by phone, online chat, email and in person through Bank of America branches.
Account typesBrokerage, Retirement
Available asset typesStocks, Bonds, Options, Mutual funds, ETFs

Pros and cons of Moomoo

Moomoo is a broker that can appeal to tech-savvy, active traders. But it has its drawbacks. Here are some points to weigh before deciding to open or keep a Moomoo account.

Pros

  • Access to foreign markets through American depositary receipts
  • Commission-free trades
  • Advanced research tools

Cons

  • Offers only individual margin accounts
  • Customer service is available only through email
  • Research tools may be too complex for beginners

How to transfer your brokerage account

If you’re switching brokers, the process may vary depending on your current broker and the one you’re moving to. Moomoo charges a hefty $75 per-stock fee to transfer assets to another broker.
Moomoo uses the Automated Customer Account Transfer Service (ACATS). So expect to go through the following process:

  1. Get a statement from your broker that has info like your account number and current assets.
  2. Open the same type of account with your current broker — for example, an individual brokerage account should go to another individual brokerage account.
  3. Fill out a transfer initiation or ACAT form with your new broker.
  4. Your current broker validates your form or notifies you of next steps within three business days.
  5. Your old broker completes the process and moves funds within six business days.

Note: Some brokers don’t accept the proprietary funds of others. So you may not be able to transfer mutual funds or ETFs managed by your old broker.

Compare trading platforms

1 - 10 of 10
Name Product USFST Ratings Available asset types Stock trade fee Minimum deposit Cash sweep APY Signup bonus
Tastytrade
Finder Score: 4.4 / 5: ★★★★★
Tastytrade
★★★★★
Stocks, Options, ETFs, Cryptocurrency, Futures, Treasury Bills
$0
$0
N/A
Get $50-$5,000
Competitive, capped options commissions, with a reliable trading platform designed for serious traders.
Robinhood
Finder Score: 4.6 / 5: ★★★★★
Robinhood
★★★★★
Stocks, Options, ETFs, Cryptocurrency
$0
$0
4.5%
Get a free stock
Trade stocks, options, ETFs and crypto without commissions and on a user-friendly platform. Plus, a 1% IRA match and no options contract fees.
SoFi Invest®
Finder Score: 4.3 / 5: ★★★★★
SoFi Invest®
★★★★★
Stocks, Options, Mutual funds, ETFs, Alternatives
$0
$0
0.02%
Get up to $1,000 in stock
Zero-commission stocks, ETFs and options, with no options per-contract fees. Plus, a complimentary access to financial planners.
OPTO
Finder Score: 3.8 / 5: ★★★★★
OPTO
★★★★★
Stocks, ETFs
$0
$0
N/A
Earn up to $300
AI-driven thematic investing, with proprietary research, fractional shares and commission-free stocks and ETFs.
eToro
Finder Score: 4.3 / 5: ★★★★★
EXCLUSIVE
eToro
★★★★★
Stocks, Options, ETFs, Cryptocurrency
$0
$0
4.9%
FINDER EXCLUSIVE: Get a guaranteed $15 bonus and $10 in free crypto
No commission stock, ETF and options trades, with 4.9% interest on your options account balance and no options contract fees.
Public.com
Finder Score: 4.4 / 5: ★★★★★
Public.com
★★★★★
Stocks, Bonds, Options, ETFs, Cryptocurrency, Alternatives, Treasury Bills, High-yield cash account
$0
$0
4.35%
Get up to $10,000 and transfer fees covered
Build a diversified portfolio of stocks, bonds, options, ETFs, crypto and alternative assets, with a high-yield cash account and options contract rebates.
Stash
Finder Score: 3.7 / 5: ★★★★★
Stash
★★★★★
Stocks, ETFs
$0
$0
0.1%
Get $10 when you sign up and deposit $5
Automated investing, individual stock and ETF investing and banking services for as low as $3 per month.
Wealthfront
Finder Score: 4.5 / 5: ★★★★★
Wealthfront
★★★★★
Stocks, ETFs
$0
$500
5%
Get $50
Automated stock and bond ETF investing with the ability to trade individual stocks for as little as $1 apiece.
Zacks Trade
Finder Score: 3.9 / 5: ★★★★★
Zacks Trade
★★★★★
Stocks, Bonds, Mutual funds, ETFs, CDs
$0.01
$250
2.83%
Get up to $500
Trade stocks, options, ETFs, mutual funds and bonds, with powerful trading tools and low margin rates.
M1 Finance
Finder Score: 4.1 / 5: ★★★★★
M1 Finance
★★★★★
Stocks, ETFs, Cryptocurrency
$0
$100
4.25%
N/A
Build a custom portfolio of stocks and ETFs with automatic rebalancing. Plus, earn 4.25% APY with a high-yield cash account.
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Finder is not an advisor or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.

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Written by

Editor

Sheri Bechtel is associate editorial director of product reviews at The Balance and a former editor at Finder, specializing in investments. Her writing and analysis has been featured in Yahoo News, Bond Buyer and Prospect News. She holds a B.A. in English from Columbus State University. See full bio

Sheri's expertise
Sheri has written 43 Finder guides across topics including:
  • Bonds
  • Stocks
  • Exchange-traded funds (ETFs)
  • Index funds
  • IPO

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