Moomoo vs Mitrade

Moomoo vs Mitrade Comparison Table 2023
Moomoo	Mitrade
Review 3.8 Moomoo is #11 in our broker rankings.	Review 3.5
Traders from US accepted	Traders from US not accepted See available CFD brokers
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.	MiTrade is a Australian CFD and forex broker with top-tier regulation from ASIC. The broker offers zero minimum deposit requirement, 24/5 customer support and a sleek proprietary platform. The brand has been recognized with global awards and has gained a client base of over 2.4 million.
Bonus Offer
Get up to 15 free stocks worth up to $2000	$50 welcome bonus
Comment by Reviewer
"Moomoo is 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."	"Based on my extensive tests, I think MiTrade is a good choice for novice investors looking for hundreds of instruments, educational content and an award-winning bespoke trading platform."
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 It's also 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 which is excellent news for beginners The broker offers access to extended pre-market trading hours Moomoo has reduced options contract fees from $0.65 to $0	I think the online education courses, real-time market news and expert analysis resources are extensive and will be useful for both beginners and intermediate traders The intuitive trading terminal and mobile app with in-built technical indicators, custom charting and trend analysis are notable advantages for technical traders I appreciate the zero minimum deposit requirement, plus free deposits and withdrawals and no hidden charges - ideal for traders on a budget I'm pleased to see top-tier regulatory oversight from ASIC with negative balance protection and segregated client funds for some clients I found a decent list of international payment methods including POLi, Skrill, Neteller, wire transfer and credit/debit card Responsive customer support is also available 24/5 including live chat and an online contact form
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	There is only one choice of platform which I think will put MiTrade at a disadvantage compared to other brands It's disappointing that there are no advanced tools including copy trading and a VPS I'm a little hesitant that global traders will be registering with the offshore entities
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, CFD, Forex
Demo Account
Yes	Yes
Minimum Deposit
$0	$0
Trading Platforms
Desktop Platform Mobile App	Own
Payment Methods
ACH Transfer TransferWise Wire Transfer	Credit Card Debit Card Mastercard POLi Skrill Visa Wire Transfer
Minimum Trade
$0	0.01 Lots
Regulator
SEC, FINRA, MAS, ASIC, SFC	ASIC, FSC, CIMA
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	No
Robo Advisor
No	No
Negative Balance Protection
No	No
Market Maker
No	No
P2P Trading
No	No
Spot Trading
Yes	No
Mobile Apps
Yes (iOS & Android)	iOS & Android
Copy Trading
No	No
Social Trading
No	No
Trade Signals
None	No
VPS Hosting
No	No
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Islamic Account
No	No
Account Currencies
USD HKD SGD	USD AUD
Stock Exchanges
Australian Securities Exchange Chicago Mercantile Exchange Hong Kong Stock Exchange Nasdaq New York Stock Exchange	Australian Securities Exchange Deutsche Boerse Euronext Hong Kong Stock Exchange Japan Exchange Group New York Stock Exchange
CFD Trading
CFD trading not offered	There's a decent range of 500+ CFD products on a proprietary terminal including forex, stocks, shares and commodities with competitive spreads. I appreciated the 24/5 customer support, market insights and sentiment data to help me make informed CFD trading decisions.
Leverage
1:2	1:30 (Retail), 1:250 (Pro)
FTSE Spread
	3
GBPUSD Spread
	1.5
Oil Spread
	0.05
Stocks Spread
	Variable
Forex Trading
Forex trading not offered	During my tests, I was pleased to uncover 60+ major, minor and exotic currency pairs, such as EUR/USD, AUD/USD and GBP/JPY with a minimum trade size of 0.01 lots and no commission fees. I also noted no hidden fees and free access to market insights.ith leverage through Mitrade's proprietary web-based trading platform.
GBPUSD Spread
	1.5
EURUSD Spread
	1
EURGBP Spread
	1.2
Assets
	60

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