Moomoo is an SEC-regulated app-based investment platform that offers a straightforward and affordable way to invest in Chinese, Hong Kong, Singaporean, Australian and US stocks, ETFs and other assets. Margin trading is available and the brand offers a zero-deposit account as well as several bonuses.
Acorns is a US-based investment platform launched in 2012. This SEC-registered firm aims to make investing more accessible for anyone looking to start small, catering to a range of savings goals. With over 9 million clients, the firm has earned a strong reputation and is backed by a number of well-known investors and economists.
"Moomoo remains an excellent choice for new and intermediate stock traders who want to build a diverse investment portfolio. What really stands out is the broker's user-friendly app and the low trading fees."
"Acorns will meet the needs of US traders looking for flexible investment portfolios with simple flat fees and low entry requirements."
Pros
It is reassuring that Moomoo holds licenses with the US Securities and Exchange Commission (SEC) and the Monetary Authority of Singapore (MAS), among others
Moomoo is a Member of FINRA and the Securities Investor Protection Corporation (SIPC), adding another level of security for prospective clients
The ‘Moomoo Token’ generates dynamic passwords for transaction security - a unique and helpful safety feature
Moomoo's analytics and insights are impressive and detailed compared to other brands
There is no minimum deposit requirement making the broker accessible for beginners
The broker offers access to extended pre-market trading hours
There are reduced options contract fees from $0.65 to $0
Acorns Visa debit card included with all subscriptions plus a banking and investing app
Earn bonus investments from popular brands when you shop their offers using your Acorns card
Strong regulation from the SEC and membership with FINRA/SIPC, plus FDIC insurance up to $250,000
Flat $3 monthly fee, plus no hidden charges, minimum balance fees or overdraft penalties
Five risk levels from Conservative to Aggressive and a range of savings accounts
Bitcoin-linked ETF offering exposure without owning BTC
Welcome bonuses and financial incentives
Cons
There is no negative balance protection, which is a common safety feature at top-tier-regulated brokers
It's a shame that there is no 2 factor authentication (2FA), despite the other security features on offer
There is no phone or live chat support - common options at most other brokers
Cannot manually change or choose investments
Narrow choice of trading instruments with no forex
Monthly fee might be high for those with smaller balances
