Webull vs moomoo — which broker is better?

Pros

• USD 0 commission on US-listed stocks, ETFs and equity options, with no per-contract fee — index options are the only equity-derivative exception at USD 0.50 per contract
• A real desktop terminal for Windows, macOS and Linux, with multi-monitor layouts, depth-of-market and a script editor — rare at this price point
• Publicly listed on Nasdaq as BULL since April 2025, so financials and risk disclosures are in the public record
• Free paper trading with the same charts and order tickets as the live account, which makes the options approval process much less punitive
• Futures on CME and Coinbase Derivatives at a reported USD 1.25 per side (E-mini) and USD 0.25 per side (micro), plus fixed income at a 0.1% principal mark-up
• Six top-tier licences across the group — SEC/FINRA, CFTC/NFA, FCA, ASIC, MAS and the Dutch AFM
• No account maintenance fee and no minimum deposit; ACH in and out is free

Cons

• Customer support is the standing complaint: Trustpilot sits at roughly 1.3–1.4 out of 5, with transfers and account access the most common themes
• Crypto costs a 1% spread on each side — about 2% round trip — which is expensive next to a dedicated exchange
• Margin rates are not published on the public pricing page and start around 8.74% at the standard tier, well above brokers such as Public.com
• USD 75 to transfer your securities out, and 1.75% to withdraw to a debit card
• A 2023 FINRA settlement over options-approval due diligence and complaint handling is on the record
• No spot forex, no CFDs, no traditional mutual fund supermarket, and non-US clients get a materially different product depending on which entity they land in

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