moomoo vs webull, which is better?

[Mancunian2]

currently using IBRK for US markets but thinking of switching to webull or moomoo,
which is better and what are the things to consider?

(I have a Tiger account which I prefer to use for Singapore stocks only)

 

[iluvinvesting]

currently using IBRK for US markets but thinking of switching to webull or moomoo,
which is better and what are the things to consider?

(I have a Tiger account which I prefer to use for Singapore stocks only)

webull is newer in sg, offers fractional shares, and offers 0 comms for US stocks, options, and ETFs.
moomoo has been in sg for awhile longer and currently has 0 comms (forever) and 0 platform fees (for 1 year) for stocks and ETFs.

just sharing some basic info i know! i guess another diff is moomoo has more local SG online communities currently, like telegram channel & group. i tried finding webull ones but they don't have much, maybe they'll create soon

 

[sohguanh]

currently using IBRK for US markets but thinking of switching to webull or moomoo,
which is better and what are the things to consider?

(I have a Tiger account which I prefer to use for Singapore stocks only)

If you want fractional shares I think Webull Spore better 0 comm fees. Change into USD no need pay USD 2 but the rate may not be as good as IBKR. Just register and test it out. Each time USD 2 add a few times also alot

 

[NightmareFromTheSky]

currently using IBRK for US markets but thinking of switching to webull or moomoo,
which is better and what are the things to consider?

(I have a Tiger account which I prefer to use for Singapore stocks only)

Moomoo only

 

[reddevil0728]

Moomoo only

What do you mean?

 

[greatgreenman]

The 0 comms for Webull doesn't look like lifetime? Moomoo charges flat $1 platform fee for each trade after the 1st year waiver. I'm wondering if there is a better alternative to Moomoo right now

 

[sohguanh]

The 0 comms for Webull doesn't look like lifetime? Moomoo charges flat $1 platform fee for each trade after the 1st year waiver. I'm wondering if there is a better alternative to Moomoo right now

Webull 0 comms ending Sep 2023 pending if they continue to extend. Webull support fractional shares which moomoo does not.

 

[greatgreenman]

Webull 0 comms ending Sep 2023 pending if they continue to extend. Webull support fractional shares which moomoo does not.

Yeah it also mentions "For new clients, the rate of 0 is valid for 183 days from the date of account approval" but half a year isn't a long time at all. I'm not interested in fractionals either and am only focusing on the lowest fees for US stocks. So far looks like Moomoo is still the cheapest even with the $1 platform fee. Unless Webull exchanges currency at the market rate which I doubt it.

 

[reddevil0728]

Yeah it also mentions "For new clients, the rate of 0 is valid for 183 days from the date of account approval" but half a year isn't a long time at all. I'm not interested in fractionals either and am only focusing on the lowest fees for US stocks. So far looks like Moomoo is still the cheapest even with the $1 platform fee

ibkr not as cheap?

 

[greatgreenman]

ibkr not as cheap?

IBKR min $1 USD commission / max 1% of trade value. It's only 0 comms for US residents. Moomoo is just a flat 0.99 platform fee for all trades with 0 comms for life.

 

[reddevil0728]

IBKR min $1 USD commission / max 1% of trade value. It's only 0 comms for US residents. Moomoo is just a flat 0.99 platform fee for all trades with 0 comms for life.

eh. no ah. that's fixed. tiered is cheaper.

but is the for life not changeable? for now for life right.

 

[greatgreenman]

eh. no ah. that's fixed. tiered is cheaper.

but is the for life not changeable? for now for life right.

ah ok. didn't see the other account. It's min 0.35, or 1% of trade value. It's the 1% of trade value that makes it pricier than Moomoo.

As for the "for life" part, I don't think Moomoo will be legally binded to that. They probably have legalese somewhere that allows them to change their fees at their own discretion; same thing for all brokers. But as of right now they're adveritisng 0 comms forever

 

[sohguanh]

I'm not interested in fractionals either and am only focusing on the lowest fees for US stocks.

Ok once you are not into fractional I think ibkr tiered fit you better. Their each conversion from SGD to USD minimum should not be your concern also since you into full share trading mean capital much bigger.

 

[reddevil0728]

ah ok. didn't see the other account. It's min 0.35, or 1% of trade value. It's the 1% of trade value that makes it pricier than Moomoo.

As for the "for life" part, I don't think Moomoo will be legally binded to that. They probably have legalese somewhere that allows them to change their fees at their own discretion; same thing for all brokers. But as of right now they're adveritisng 0 comms forever

you trade very big amount that will be impacted by the 1%?

 

[greatgreenman]

you trade very big amount that will be impacted by the 1%?

Huh? Min is $0.35, Max is 1% of trade value. With a $1000 trade value, that brings the commission to $10. Did I miss something about their pricing model?

 

[reddevil0728]

Huh? Min is $0.35, Max is 1% of trade value. With a $1000 trade value, that brings the commission to $10. Did I miss something about their pricing model?

did u see the volume thingy?

 

[greatgreenman]

did u see the volume thingy?

I see what you mean now. I didn't see that part earlier. So IBKR is cheaper than Moomoo for any trade that has less than 286 shares.

 

[reddevil0728]

I see what you mean now. I didn't see that part earlier. So IBKR is cheaper than Moomoo for any trade that has less than 286 shares.

depending on what u buy also. 286 might be a lot of shares also.

there's also quite a lot of flexibility and things u can do with IBKR

cannot purely look at the fees

 

[greatgreenman]

Ok once you are not into fractional I think ibkr tiered fit you better. Their each conversion from SGD to USD minimum should not be your concern also since you into full share trading mean capital much bigger.

They also charge additional fees for currency conversion it seems

 

[greatgreenman]

depending on what u buy also. 286 might be a lot of shares also.

there's also quite a lot of flexibility and things u can do with IBKR

cannot purely look at the fees

Yeah price varies depending on the ticker. Gets pricier for cheaper stocks.

IBKR offers more markets and instruments, but none of which interest me as far as I'm aware. I used it for awhile some time ago, but the slower deposit/withdrawal speed was a turn off as well.