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Moomoo vs Charles Schwab

Moomoo vs Charles Schwab Comparison Table 2024
Moomoo Charles Schwab
Review
3.8
Review
2.8

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.

Charles Schwab is a large US investment broker offering a massive range of stocks, ETFs and equity derivatives in a variety of savings and investment accounts. The trustworthy brand has been offering financial services for 45+ years with over 35 million brokerage accounts and $870+ billion in assets under management. Charles Schwab is also regulated by top-tier watchdogs including the SEC and FCA.

Customer Reviews
3.5
Based on 2 Moomoo customer reviews
Comment by Reviewer
"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." "Charles Schwab will serve long-term investors looking for managed accounts, financial advice and self-directed trading opportunities. Fees are competitive, with zero-commission stock and ETF trading and no account minimums for individual brokerage accounts."
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
  • Strong investment offerings covering stocks, mutual funds, options, bonds and cryptocurrency
  • Powerful trading software with real-time quotes, fundamental research and investment screeners
  • Responsive customer support team available 24/7 via live chat or telephone
  • Competitive trading fees with no commissions on stocks and ETFs
  • Fractional shares on the S&P 500 with a $5 minimum investment
  • Thematic investing categories and ESG compliant portfolios
  • Strong regulatory oversight from the US SEC and UK FCA
  • No account minimums for individual brokerage accounts
  • High-quality educational resources for new investors
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
  • Only US markets available (except 12 foreign markets on the Global Account)
  • High minimum investment of $5000 to use robo-advisors
  • Limited funding methods with no e-wallets
  • No email support
Awards
  • Best Trading Platform 2022 - Fintech Breakthrough
  • Best Active Trading App 2021 - Investing Simple
  • Best Trading Technology 2021 - Benzinga
  • Best Online Stock Brokers 2021 - Benzinga
Instruments
Stocks, Options, ETFs, ADRs, OTCs Stocks, ETFs, Cryptos, Futures, Options, Commodities, Bonds
Demo Account
Yes Yes
Minimum Deposit
$0 $0
Trading Platforms
  • Desktop Platform
  • Mobile App
  • Own
Payment Methods
Minimum Trade
$0 $1
Regulator
SEC, FINRA, MAS, ASIC, SFC SEC, FINRA, FCA1
Margin Trading
Yes No
Margin Rate
6.8
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No Yes
Robo Advisor
No Yes
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes No
Mobile Apps
Yes (iOS & Android) iOS & Android
Android App Rating
3.3
iOS App Rating
4.6
Auto Trading
Yes
Copy Trading
No No
Social Trading
No No
Trade Signals
None
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No Yes
Custodial Account
No Yes
Guaranteed Stop Loss
No No
Inactivity Fee
$0
Islamic Account
No No
Account Currencies
  • USD
  • HKD
  • SGD
  • USD
Stock Exchanges
Commodities
Cryptocurrency
Crypto trading not offered Charles Schwab supports indirect crypto trading through digital coin trusts and crypto-related stocks. You can get exposure to popular digital currencies such as Bitcoin, Ripple and Ethereum.
Spread
Floating
Coins
  • GBTC
  • BITW
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Review
Review
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