Wahed Invest vs Moomoo

Wahed Invest vs Moomoo Comparison Table 2024
Wahed Invest Moomoo
3.1

Wahed Invest is #35 in our broker rankings.

3.8

Moomoo is #11 in our broker rankings.

United States Flag Traders from US accepted
United States Flag Traders from US accepted

Wahed Invest is an ethical investment platform and robo-advisor aimed at Muslim investors. The firm is overseen by the Sharia Review Bureau, offering a range of stocks, ETFs, sukuk and gold. With a reasonable $100 minimum deposit and strong regulatory oversight, the firm has become an accessible option for over 200,000 investors.

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.

Customer Reviews
3.5
Bonus Offer
Get up to 15 free stocks worth up to $2000
Comment by Reviewer
"Wahed Invest is a great option for Muslim traders looking to invest in ethical securities with straightforward pricing and flexible risk parameters." "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
  • Commitment to ethical investing with rigorous screenings, plus Waqf practices to ensure income generated from assets is donated
  • The broker's fee covers all custodian fees and transaction fees and traders are never charged for account balances of zero
  • Strong regulation by the SEC in the US and the FCA in the UK, plus membership with the Shariah Review Bureau
  • Six flexible investment portfolio styles, from Very Conservative to Very Aggressive, plus a rebalancing service
  • Engaging blog featuring Islamic finance education and awareness, updated regularly
  • 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
  • Platform is not as advanced as other competitors
  • Higher fees than other investment firms
  • Bank card funding not available
  • $100 minimum withdrawal
  • No live chat support
  • 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
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, Sukuk, Gold Stocks, Options, ETFs, ADRs, OTCs
Demo Account
No Yes
Minimum Deposit
$100 $0
Trading Platforms
  • Own
  • Desktop Platform
  • Mobile App
Payment Methods
Minimum Trade
Variable $0
Regulator
SEC, SRB SEC, FINRA, MAS, ASIC, SFC
Margin Trading
No 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
Yes No
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
No Yes
Mobile Apps
iOS & Android Yes (iOS & Android)
Android App Rating
3.3
iOS App Rating
4.6
Auto Trading
Robo-advisor
Copy Trading
No No
Social Trading
No No
Trade Signals
None
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
Yes No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$0
Islamic Account
Yes No
Account Currencies
  • USD
  • GBP
  • MYR
  • USD
  • HKD
  • SGD
Stock Exchanges
Commodities
More Comparisons
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