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.
M1 Finance is a US brokerage that allows users to build a customizable investment portfolio from a range of 6000+ stocks and shares, ETFs and cryptocurrencies. The innovative 'pie' based portfolio management system allows traders to build several portfolios with different aims, and the brokerage supports machine-learning tools that can provide automated portfolio management.
"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."
"M1 Finance remains a great choice for US investors who want a straightforward, commission-free way to invest in stocks and crypto. The intuitive dashboard, customizable portfolios and fractional shares should appeal to all experience levels and investing goals. "
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
Thanks to additional extras like a bank account and loan service, M1 Finance continues to offer a one-stop shop for investors
The broker offers commission-free stocks with low fees, plus fractional shares, making it a great choice for beginners
The broker delivers a clean and easy-to-use dashboard that illustrates the current composition of your portfolio
The firm offers a straightforward proprietary platform with intuitive portfolio management tools
Multiple portfolios can be facilitated, with up to five accounts under the same login
Customizable 'pies' allow investors to curate their own ETFs
The range of 6000+ stocks and ETFs is highly competitive
Bitcoin trading is available through M1 Crypto
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
Despite offering stocks and ETFs, M1 Finance doesn’t provide trading on mutual funds or options
Unlike competitors such as Betterment, M1 does not employ any human financial advisors
M1 Finance is only available in the US – eToro is a top alternative for the UK market
Accounts with less than $20 and no trading activity for 90 days are charged a fee
The way trades are placed puts transaction timing out of your control
You cannot consolidate external accounts for planning purposes
M1 Finance users can open a crypto account to invest in 10 cryptocurrencies including Bitcoin, Ethereum, Cardano and Solana. You can also invest in six crypto-related funds and ETFs, which are a good way to get broader exposure to the digital currency market.
