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Moomoo vs Firstrade: 2023 Comparison

Franklin Carneiro da Silva| Updated: August 30, 2023

Are you confused about whether to choose Moomoo vs Firstrade as a broker for your investing needs?

In this side-by-side comparison, we analyse Moomoo vs Firstrade to help you understand how these apps compare on some of the most common features and make a better-informed decision about the best broker for you.

Below, you’ll find the pros and cons of each broker, as well as a comparison table that features the different fees charged, the financial instruments supported, the regulation, and more. Keep reading!

Ideal for
US cost-conscious investors

Moomoo is an innovative online brokerage platform designed to meet the needs of beginner and experienced investors alike.

The platform offers commission-free trading on stocks, options, and ETFs, making it an attractive choice for cost-conscious investors.

Moomoo also offers a social trading community where users can share insights, strategies, and learn from each other’s experiences.

Ideal for
US investors looking for US options only

Firstrade is a traditional company founded in 1985 that recently changed its strategy to become a commission-free online trading platform for stocks, ETFs and options.

The broker is considered safe, with a long track record that survived a few crises and top-tier regulators’ supervision.

The main drawbacks are its limited products offering (no European ETFs, stocks,…) and the fact that it only offers fractional shares on reinvested dividends.

Pros and Cons

Pros

  • 0% commission on stocks, ETFs and options (US investors only)
  • Easy and fast account opening
  • Access to China A-shares
  • Advanced research tools
  • Demo Account (Paper trading)

Cons

  • Limited product portfolio (no European stocks, for example)
  • Limited Account types
  • No fractional shares

Pros

  • Commission-free stock, ETF, mutual fund and options trading
  • Good research and educational content
  • No inactivity fees
  • No minimum deposit

Cons

  • You can trade only on US markets
  • No 24/7 customer support
  • No demo account
  • No fractional shares
Moomoo vs Firstrade: 2023 Comparison 3
Moomoo vs Firstrade: 2023 Comparison 4
  •  
  • General Information
  • Founded in
  • Demo Account
  • Account Minimum
  • Interest on unninvested cash (annually)
  • Products
  • Stocks
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocks
  • EU stocks
  • ETFs
  • Cryptocurrencies
  • Custody Fee
  • Inactivity Fee
  • Withdrawal Fee
  • Connectivity Fee
  • Currency Conversion Fee
  • Security
  • Regulators
  • Investor Compensation Scheme(per person, per institution)
  • MoomooAsset 3
  • General Information
  • Founded in2018
  • Demo Account
  • Account Minimum$0
  • Interest on unninvested cash (annually)0%
  • Products
  • Stocks
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocks$0
  • EU stocksNot Applicable
  • ETFs$0
  • CryptocurrenciesNot Applicable
  • Custody Fee$0
  • Inactivity Fee$0
  • Withdrawal Fee$0
  • Connectivity Fee$0
  • Currency Conversion Fee$0
  • Security
  • RegulatorsSEC, FINRA, MAS, ASIC
  • Investor Compensation Scheme(per person, per institution)

    It depends on the subsidiary you sign up for. US investors: Up to $500,000 for assets (of which up to $250,000 is for cash).

  • FirstradeAsset 3
  • General Information
  • Founded in1985
  • Demo Account
  • Account Minimum$1
  • Interest on unninvested cash (annually)0%
  • Products
  • Stocks
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocks$0
  • EU stocksNot Applicable
  • ETFs$0
  • Cryptocurrencies1%**Spread on either side of a crypto trade.
  • Custody Fee$0
  • Inactivity Fee$0
  • Withdrawal Fee0$ for ACH**Wire transfers cost $30-35 (depends on your residency).
  • Connectivity Fee0$
  • Currency Conversion FeeNo available information
  • Security
  • RegulatorsFCA and FINRA.
  • Investor Compensation Scheme(per person, per institution)Up to $500,000 **Including international clients.
Franklin Carneiro da Silva
Co-Founder & Fintech Analyst

Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.

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