Plum is an financial app that empowers users to save and trade. The investing platform is available in 10 European countries with offices in the UK, Greece and Cyprus. Over 1.5 million clients and have invested more than £1 billion with the firm.
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.
"Plum is a great option for traders looking for a user-friendly savings, budgeting and investment app. The £1 minimum deposit, pre-built funds and fractional shares will especially appeal to beginners."
"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."
Pros
Commission-free trading on 3000+ stocks with manual or automatic investments
Pre-built funds based on a market sector or ESG initiatives with portfolio auto-rebalancing
Savings account available with expenditure analysis and free withdrawals
Interest rates on uninvested cash are competitive up to 4.21% AER
Low minimum investment of £1 plus fractional shares
Regulated by the FCA
Bill provider analysis
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
Cons
Monthly subscription fees apply to access the full suite of services and best trading conditions
Limited price analysis features such technical indicators and custom charting for experienced traders
Limited payment methods with bank transfer only
Narrow product portfolio compared to alternatives
The app is only available in European regions
No demo account available
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
