Investing in the stock market is more accessible today than ever before. People can now buy and sell various investments all from their phone in a matter of seconds.
With a growing number of brokerages and investing apps readily available, many people are left considering which to choose. With various cost structures, incentive programs, and app functionalities, people are often confused about which investing platform is best suited for them.
In this article, we are going to compare Moomoo vs Robinhood to see similarities and differences between the two investing apps. We will take a deep dive into the two investing platforms and cover all the pros and cons of each.
This article is sponsored by Moomoo.
Moomoo is an advanced investing platform that allows users to buy and sell stocks, ETFs, options, and other assets commission-free. The platform was designed for all levels of investors, though with their advanced charting, free level two market data, extended trading hours, and a variety of impressive research tools, the trading platform caters well to experienced traders and day traders. Launched in 2018, Moomoo has gained traction and popularity among investors for being a true one-stop shop for investing in the stock market.
Robinhood, often thought of as the original free investing app, is an investing app designed to make investing easy. With an incredibly simple app design that is easy to navigate, Robinhood has become one of the most popular investing apps available. Within the app, users can buy and sell stocks, ETFs, and options commission-free. It was created specifically with the hope to make investing simple and easy to understand, which is the main reason new investors feel comfortable in their app.
Both of these trading platforms offer users the ability to make trades commission-free. They also both have an app and a desktop version, though Robinhood's app and desktop version are virtually the same.
Moomoo and Robinhood were both designed for the end user. Thus, investors have great things to say about both of these investing platforms.
|Available Assets||Stocks, ETFs, Options||Stocks, ETFs, Options, Cryptocurrency|
|Level 2 Market Data||Free||$5 Monthly Subscription|
|Best For||Advanced Investors||Novice Investors|
Moomoo is a commission-free trading platform. Based in the Silicon Valley in California, Moomoo Inc. is a wholly-owned subsidiary of Futu Holdings Ltd. The trading platform was launched in March of 2018.
The relatively new trading platform is quickly gaining popularity as it offers more resources and charting tools than the average investing app. When thinking about Moomoo vs Robinhood, one of the key differences is the number of tools and resources offered within the apps.
Though it is still relatively new, Moomoo does not currently offer cryptocurrency, mutual funds, or bonds.
Robinhood Review 2021: Best Investing App?
Moomoo Review 2021: Best Free Trading App?
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Moomoo offers a wide number of advanced research tools and charting, which caters well to more experienced traders.
Moomoo was designed to be a one-stop-shop for investing. So what does that mean? Many investors often complain about the level of detail and tools available within various trading apps. They often have to use a variety of resources when making investment decisions. With Moomoo however, investors can find just about everything they need to make informed decisions.
Moomoo offers users the following features and benefits:
In addition to the features listed above, Moomoo also offers users access to the Moomoo community where investors can share insights about various investments. With all the offerings within the app or on the desktop version, investors will find everything they need to make informed investment decisions.
Getting started with Moomoo is simple. Creating your account can be done in just a few minutes.
You will need the following information ready:
After inputting the required information and agreeing to their risk statement, your account will be submitted for review. Approval can take up to 1-3 business days.
Once approval is granted, linking a bank account and making your first deposit is simple.
Robinhood is a commission-free trading platform designed to make investing simple and easy. Launched in 2013, Robinhood has quickly become a top trading platform for new and novice investors.
For many, investing has long been seen as a complex topic with difficult terms. Robinhood sought to change the way people saw and thought about investing. Thus, they created a platform that was easy to use and understand. Additionally, they offered an ability to buy fractional shares, which allowed anyone to get started.
Purchasing a share of stock can often be expensive. Amazon, ticker symbol AMZN, for example, currently trades for over $3,300. For many, this makes investing into Amazon impossible. But with fractional shares, anyone can invest with as little as a dollar!
Robinhood, though designed to be simple and easy, still offers a number of different features for investors.
Robinhood offers users the following benefits:
With the ability to start investing with any dollar amount and the use of such a simple app, many new investors have started participating in the world of investing. Though Robinhood may not have all the tools other apps such as Moomoo or Webull have, it certainly has accomplished its mission to simplify investing.
Getting started with Robinhood is quick and easy. After downloading the app, you will input the basic information like your name, address, phone number, and social security number. And answering a series of questions, your account will be submitted for review. An account will typically be approved within 24 hours.
Both trading platforms offer users a variety of features and benefits. While Moomoo was designed for all levels of investors, the app can be overwhelming to new investors due to all the resources readily available. Though the app is simple and customizable, the vast array of research tools and advanced charting makes Moomoo a great option for more experienced traders.
Robinhood is a great platform for new investors. With an incredibly simple design and easy navigation, Robinhood is a favorite for new and novice investors. The trading app even features informative details about what certain stats and trading types mean. Experienced and advanced traders often complain about the lack of investing resources within Robinhood, making the app more suited for beginners.