TD Ameritrade versus moomoo - compare IRA, commissions, investing fees, trading tools, account differences, pros and cons. Which brokerage firm is better?

TD Ameritrade vs. moomoo Introduction

TD Ameritrade and moomoo are two self-directed brokerage firms that deliver a lot of trading power, albeit in different ways. Read on for the juicy details.

Comparison Table

TD Ameritrade Rating
Rating 4.5-star brokerage firm rating moomoo rating
Stocks $0 $0
Mutual Funds $49.99 to buy, $0 to sell na
Initial Funding Requirement $0 $0
Inactivity Fee $0 $0
IRA Annual Fee $0 $0
Full Account Transfer $0 $75
Partial Account Transfer $0 $55
Account Closing Fee $0 $0
Trading Experience & Technology brokerage ratings brokerage ratings
Mobile brokerage ratings brokerage ratings
Research Amenities brokerage ratings brokerage ratings
Portfolio & Analysis Reports brokerage ratings brokerage ratings
Customer Service and Education brokerage ratings brokerage ratings
Open an account $0 stock/ETF trades and a transfer fee refund. Up to 15 free stocks valued up to $7,000!


For Available Assets, TD Ameritrade Is Our Pick

moomoo offers the following list of assets inside taxable brokerage accounts:

  • US and Chinese stocks
  • ADRs
  • Funds (closed-end and exchange-traded, but not mutual)

TD Ameritrade drops the Chinese stocks but adds fixed-income securities, mutual funds, futures contracts, and forex inside taxable and many non-taxable account types.


For Margin, moomoo Is Better

Margin accounts and margin trading are both available at both brokerage houses. moomoo’s software (which we’ll look at in just a minute) displays margin details on an entered ticker symbol. Examples include initial margin, short pool, and maintenance margin. TD Ameritrade’s software does not display these details.

As for margin rates, moomoo currently charges a flat 7.3% on all balance levels. TD Ameritrade has the traditional sliding scale. It currently ranges from 11% to 9%.


For Websites, TD Ameritrade Is Much Better

The moomoo website has recently been updated to add limited stock profiles (more information is available on the moomoo app), a stock screener, and market news. There is also an educational section with articles and videos. Despite these improvements, there still is no trading capability, and in fact, there are no account management tools.


Moomoo or TD Ameritrade


TD Ameritrade goes a giant leap further with its website. There are very sophisticated account management tools. These can be found under the Client Services tab in the top menu. Available selections include account linking, communication preferences, market data subscriptions, and document upload and download.


TD Ameritrade vs moomoo


And that’s just the beginning. Ameritrade’s site actually has trading capability, and the tools are very good. SnapTicket is a trade bar that sits in the bottom of the screen. It can submit orders on the fly and has a small graph.

Larger charts will be found on web pages above the trade bar. Although moomoo’s site does have charts, these are small and have no tools at all. TD Ameritrade’s software, by comparison, delivers full-screen mode and many graphing tools.

Although SnapTicket is very good, an even better order ticket will be found on a regular web page. It has some professional-level trade types, including:

- One cancels another (OCA)
- One triggers another (OTA)
- OCA bracket order


For Desktop Software, It’s a Very Different Story

Although moomoo doesn’t have much of a website, it does have a very good desktop platform. During our test drive of the program, we really liked Moo. This is the software’s community chat widget that allows customers to discuss specific securities. It’s possible to follow other traders, which really adds to the community feel. Other highlights on the platform include:


Moomoo vs Thinkorswim


  • Full-screen charting with many tools
  • Order ticket with 12 trade types
  • Multiple watchlists
  • News articles
  • Equity screener
  • Level II quotes

TD Ameritrade’s desktop platform has a lot of the same features that moomoo’s software has. These resources include full-screen charting, an advanced order ticket with many trade types, market news, Level II quotes, and an infinite number of watchlists.


Thinkorswim vs moomoo


Both platforms have simulated-trading modes, which is great because these two programs are hard to learn.

The one issue that really seems to give Ameritrade the edge here is live streaming video news (courtesy of CNBC) that moomoo doesn’t offer. Plus, TDA’s platform has more technical studies, and we really like the fact that it can trade futures and forex.


For Mobile Apps, We Choose TD Ameritrade

Both broker-dealers continue their excellent performances in the mobile category. On the moomoo side, we found another great platform with a lot of the same features on the desktop system. These tools include Moo, the social-networking section, the same trade ticket, horizontal carting with tools, and watchlists that sync with the desktop system.


Moomoo or TD Ameritrade


TD’s mobile app has a lot of the same tools that moomoo delivers, like advanced charting and order entry. Social networking is missing in action, but TD Ameritrade provides mobile check deposit, which moomoo’s app lacks.


TD Ameritrade vs moomoo


TD Ameritrade actually has two apps. One of them is modeled after the desktop system and has the most advanced charting and order ticket. Live streaming of CNBC will be found on either app, and again, this is missing at moomoo.


For Investment Education, We Like TD Ameritrade

On moomoo’s website, there is a Library underneath the Learn tab. In this section, we found articles, some of which have videos embedded. Examples of topics include:

- What is an Investment?
- What is Return on Investment (ROI)
- What Is A Security?

Other tabs on moomoo’s site offer tutorials, lessons, news articles, and market information. The broker’s desktop platform and mobile app deliver a lot of information on securities, like short interest, analyst ratings, and financial statements.

Over at TD Ameritrade, we found tons of information on stocks, including analyst reports, peer comparisons, news articles, SEC filings, and more.

For general education, there is an Education tab in the top menu that delivers lots of resources. Examples include:

- Live webcasts
- In-person events at branch locations
- TD Ameritrade Network (the broker’s video network)
- Videos, articles, and self-guided courses on lots of topics


For Miscellaneous Services, TD Ameritrade Is Tops

Banking Tools: TD Ameritrade customers, but not moomoo clients, can sign up for several cash management tools.

Periodic Mutual Fund Investing: Once again, this service is available only at Ameritrade.

Extended-hours Trading: After-hours and pre-market sessions are available at both brokerage firms in this survey. moomoo has more hours.

Individual Retirement Accounts: Available only at TD.

DRIP Service: TD Ameritrade clients can reinvest cash dividends as additional shares. moomoo traders cannot.

Fractional Shares: Neither broker offers fractional-share trading in stocks or ETFs.

Initial Public Offerings: IPOs are available at both firms.


Finally, Our Recommendations

ETF/Stock Trading: For Chinese equities, moomoo is it. For US equities, we endorse TD Ameritrade primarily for its free DRIP service.

Small Accounts: Either brokerage firm will do.

Long-term Investors & Retirement Savers: Only TD Ameritrade has IRAs, custodial accounts, trusts, education accounts, target-date mutual funds, and more.

Mutual Fund Trading: TD Ameritrade is it.

Beginners: Both brokerage firms offer simulated trading on their mobile apps and desktop programs. Probably mutual funds at TD Ameritrade would be easiest for new investors.


Promotions

TD Ameritrade: $0 stock/ETF trades and a transfer fee refund.

moomoo: Up to 15 free stocks valued up to $7,000!



moomoo vs TD Ameritrade Summary

Both TD Ameritrade and moomoo provide a positive experience for investors. The two brokers have been serving customers for many years, and they certainly understand what investors want. To choose the right broker for you, consider each broker's approach and product.

moomoo delivers a very good service for traders interested in Chinese stocks. For most other forms of trading, TD Ameritrade seems like the better broker.


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Updated on 6/18/2022.




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