Moomoo vs Qtrade

Moomoo vs Qtrade Comparison Table 2023
Moomoo Qtrade
3.8

Moomoo is #12 in our broker rankings.

3.6
United States Flag Traders from US accepted
United States Flag Traders from US not accepted

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.

Qtrade is an award-winning Canadian financial services firm that offers a selection of investing accounts with $8.75 and $6.95 stocks, mutual fund trades and 100+ commission-free ETFs. This is a long-running brand that is well regarded in Canada, where many investors choose it to build their savings account or pension pot. QTrade is also highly trusted and authorized by the Canadian Investment Regulatory Organization (CIRO).

Bonus Offer
Get up to 15 free stocks worth up to $2000 Get up to $150 cashback
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." "Qtrade is a good match for Canadian traders who are looking for a reputable and regulated broker to make longer-term investments as well as leveraged trades."
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
  • One of the best investment platforms on offer in Canada
  • Easy to use and award winning platform and customer experience
  • Good range of US and Canadian stocks as well as funds, ETFs and other assets
  • Offers a range of accounts to suit standard investments or various types of pension
  • Simple investor/member login process
  • Trailing stop loss risk management tool
  • 100+ commission-free ETFs
  • No deposit or withdrawal fees
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
  • Transfer out fee
  • CAD to USD exchange charge
  • Commissions of $8.75 per equity can stack up
  • Limited funding options and no credit/debit card deposits
  • Only available to residents of Canada. So if you are residents of Dubai, the UK or Lebanon, you will not be eligible
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
  • 30 industry awards across 15 years
Instruments
Stocks, Options, ETFs, ADRs, OTCs Stocks, ETFs, Bonds, Mutual Funds, Options, GICs
Demo Account
Yes Yes
Minimum Deposit
$0 $0
Trading Platforms
  • Desktop Platform
  • Mobile App
  • TradingCentral
Payment Methods
Minimum Trade
$0 Variable
Regulator
SEC, FINRA, MAS, ASIC, SFC CIRO
Margin Trading
Yes Yes
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 Yes
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
Yes (iOS & Android) iOS & Android
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 No
Custodial Account
No No
Guaranteed Stop Loss
No No
Islamic Account
No No
Account Currencies
  • USD
  • HKD
  • SGD
  • USD
  • CAD
Stock Exchanges
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