moomoo vs tastytrade — which broker is better?

Pros

• Free Nasdaq TotalView Level 2 depth on the US platform — Webull charges USD 3.99 per month for comparable data
• USD 0 commission and USD 0 contract fee on US stocks, ETFs and equity options for US residents
• A desktop terminal with institutional-holdings tracking, heat maps, an options strategy builder and 100+ indicators, plus the newer moomoo NX shell
• Parent Futu Holdings is Nasdaq-listed (FUTU) and clearing runs through an in-house FINRA/SIPC member, Futu Clearing Inc., rather than a third party
• Five regulated entities across the US, Singapore, Australia, Canada and Malaysia, including CIPF cover of CAD 1,000,000 for Canadian clients
• No inactivity fee, no maintenance fee, no minimum deposit, and free ACH in and out
• Multi-market equity access — US, Hong Kong and China A-shares appear on the same platform, which most zero-commission apps cannot do

Cons

• Available to residents of only seven countries — the United States, Canada, Singapore, Australia, Japan, Malaysia and New Zealand — with no EU, UK or DACH entity
• Parent company Futu was publicly named by China's CSRC in 2022 over unlicensed cross-border brokerage; mainland onboarding stopped and the apps were removed from mainland stores in 2023
• Trustpilot sentiment is mixed at roughly 2.4–3.4 out of 5 depending on locale, with slow support responses the most common complaint
• No futures, no bonds and no traditional mutual fund supermarket for US retail clients — futures exist only via the Singapore and Australia entities
• Non-US residents pay a materially worse schedule on the same US market: USD 0.005 per share with a USD 1.00 order minimum
• Only ACH moves money for free: an outgoing wire costs USD 20 domestic or USD 25 international, and an outgoing account transfer costs USD 75

Pros

• Equity options are USD 1 per contract to open, USD 0 to close and capped at USD 10 per leg — large multi-leg orders scale for free
• Futures at USD 1.00 per contract per side and micro futures at USD 0.75, with options on micro futures also USD 0.75
• No inactivity fee, no annual IRA maintenance fee and free ACH deposits and withdrawals
• Desktop, web and mobile all support full multi-leg order entry, rolling and curve analysis — the mobile app is not a stripped-down afterthought
• tastylive produces roughly eight hours of live options programming every trading day, plus a searchable research archive on strategy mechanics
• Stocks, ETFs and fractional shares trade commission-free, and Treasury bills carry no transaction fee
• Accepts clients from around 50 countries directly onto the US entity, including most of the EU, Switzerland, the UK and Singapore

Cons

• FINRA censured and fined tastytrade USD 850,000 in 2026 for failing to run adequate best-execution reviews on equity orders routed to five payment-for-order-flow market makers between 2020 and 2023
• Margin interest starts at 11.00% on debits under USD 25,000 — materially more expensive than the cheapest US brokers
• USD-only accounts with no multi-currency balances, so non-US clients pay their own bank's FX spread on every deposit and withdrawal
• Product range stops at US-listed instruments: no foreign exchanges, no mutual funds, no corporate or municipal bonds, no spot forex
• Crypto costs 1.00% per side (0.75% for BTC and ETH) and is held at Zero Hash, outside SIPC protection
• Broad-based index options such as SPX are excluded from the USD 10 commission cap and carry an additional exchange proprietary index fee