Seven Reasons Why MooMoo Trading is Better Than Robinhood
Free Level 2 Market Data
MooMoo offers a ton of free trading software. What that means is they offer free Level 2, which really, free Level 2 is key. Every day trader and every trader should have some sort of Level 2. Level 2 really just lets you see where the stock’s trading at and the stock’s getting sold at, so you can make good trades, and you can see where the hidden buyers and the hidden sellers are.
Free Scanner
Another cool thing that they do have is they do have a free scanner. There are like 15 or 12 thousand stocks available to trade, and if you have a good scanner, you can literally find the stocks that are moving, find the stocks that have volume because, as traders, we are hunters of volume. So, I think it’s a cool little thing that they haveแ ณa free scannerแ ณso you don’t have to spend 120 bucks a month on something like Trade Ideas when MooMoo has a completely free version of that.
AI Monitor
Another cool thing that they do have that’s similar to Trade Ideas is they do have an AI monitor. Really what that means is you load up this little software, and it tells you the stocks that are moving up quickly or moving down quickly. So, you can really make good trades on it and fast trade just because you know the stocks that are moving. I think it’s a cool service that they have, and it kind of, in my book, puts them one step above Robinhood.
Now, obviously, you can trade stocks, ETFs, options, and ADRs. What are ADRs? That’s pretty much like world stocks. So, you can trade Chinese stocks or Hong Kong or London stocks. You can trade almost any stock market available in the world. I think that’s a cool tool that they do have, and it kind of puts them again one step above Robinhood. Get more insights moomoo vs robinhood
In-Depth Tools
They do have a lot of in-depth tools for any investor or any trader’s level. So, if you’re a new trader and you don’t want to have a ton of studies on your charts, you don’t have to put any studies on your charts. They make it very easy, and they make the interface very easy to actually go ahead and click through and see what you guys like.
Now, obviously, they do have a lot of tools for more advanced traders or more advanced investors, so you can go ahead and see which ones you guys like. And, obviously, this is all free with the software, so you don’t have to pay any extra just to get these on there.
Financial Statements
Another cool thing that I think more trading services should have is they should show you guys the financial statements for all the stocks that you guys are looking at. So, if you want to go ahead and look at Apple, you can go ahead and see where they’re putting the funds. They tell you where the distribution of funds is going, and then they will show you the financial statements, so you can go ahead and see, “Okay, Apple lost 2% this quarter.
Faster Order Execution
Now, obviously, they do have a lot faster order execution. In my opinion, I’ve used both of them, and MooMoo blows them away. You literally click, and instantaneously, you will get the buying rather than on Robinhood, where you swipe up, and it takes a second to load, and then it will say, “You purchased five shares of Apple.” It takes a little longer.
Mobile vs. Web
Now, obviously, both of these platforms do have mobile and web-based versions. MooMoo’s web-based platform is a lot more for traders. It’s a lot more for people who have done it, people who have traded, and really are looking to take their trading one step up. Robinhood is really designed for newer traders who don’t even know if they want to invest. Robinhood is definitely designed for people who don’t even know if they really like investing, while MooMoo is definitely designed a lot more for people who have traded in the past, they like it, and they want to kind of take their trading game up to the next level.
Customer Service
Now, the customer serviceแ ณhow good is it? It’s way better than Robinhood. Because in Robinhood the only way you can really get ahold of them is via email and social media. Other than that, you’re kind of screwed, and it takes like three to five business days for you to get any response to your email or your question on social media.
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