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.
Futu is a NASDAQ-listed brokerage established in 2012. The fintech firm offers multi-asset trading opportunities on two proprietary platforms; Futubull and moomoo. Futu holds licenses with 20+ authorities including the ASIC, NFA and SFC. An impressive 15 million customers trade with Futu.
"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."
"Futu is best for investing in Hong Kong, Chinese and US stock markets with transparent pricing. The broker is trustworthy with strong regulatory oversight and multiple awards."
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
Reputable brokerage listed on the NASDAQ and registered with tier-one regulators
Extensive list of investments including stocks, options, ETFs, warrants, bonds and IPOs
Transparent pricing model with no commission fees to trade HK stocks & ETFs and free market data
Easy-to-use proprietary trading platform with desktop software, browser compatibility and a mobile app
Regulated worldwide with segregated client funds, ISO27001 security credentials and investor compensation schemes
Investor backing from several corporations including Tencent Holdings
NiuNiu community-based platform with NiuNiu Classroom education access
Pre-IPO trading hours access
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
Limited number of payment methods with no e-wallets such as Skrill, Neteller or PayPal
High minimum deposit requirement of HKD 10,000 or USD 1,500
No live chat support available
Forex trading not available
No MT4 or MT5 access
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
HKEX - Business Innovation Information Vendors 2017
