Webull vs Moomoo: Free Trading, Advanced Tools, Chinese Ownership
Both offer commission-free trading with powerful platforms. Both have Chinese parent companies. Here's how they compare—and what you should know about the ownership question.
The Elephant in the Room: Chinese Ownership
Both Webull and Moomoo have Chinese parent companies:
- Webull: Owned by Fumi Technology, a Chinese holding company
- Moomoo: Owned by Futu Holdings, backed by Tencent (Chinese tech giant)
Both have faced Congressional scrutiny over data security. Your account is still SIPC-insured and regulated by FINRA, but data could theoretically be accessed by the Chinese government. If this concerns you, consider US-based alternatives like Fidelity or Schwab.
⚡ Quick Verdict
Best for: IRA investors (3.5% match), options traders, those wanting ongoing APY (3.85% with Premium)
Best for: New investors chasing sign-up bonuses, data junkies wanting free Level 2, short-term high APY (8.1%)
| Feature | Webull | Moomoo | Winner |
|---|---|---|---|
| Stock/Options | $0 / $0 | $0 / $0 | Tie |
| IRA Match | 3.5% (Premium) | None | Webull |
| Sign-up Bonus | 2% deposit match | Up to $1,000 NVDA | Moomoo |
| Promo APY | — | 8.1% (3 months) | Moomoo |
| Ongoing APY | 3.85% (Premium) | 4.1% (after promo) | Close |
| Margin Rate | 5.75% (Premium) | 6.80% | Webull |
| Level 2 Data | Paid (Premium) | Free | Moomoo |
| Mobile App Rating | 4.7 ⭐ (iOS) | 4.7 ⭐ (iOS) | Tie |
| Extended Hours | 4am-8pm ET | 4am-8pm ET | Tie |
| Paper Trading | Yes ($1M virtual) | Yes | Tie |
| Parent Company | Fumi Technology (China) | Futu/Tencent (China) | — |
Where Webull Wins
IRA Match: The Game-Changer
Webull Premium offers a 3.5% match on IRA contributions—the highest in the industry. On a $7,000 contribution, that's $245 in free money. Moomoo offers no IRA match whatsoever. For retirement investors, this alone decides the competition.
Lower Margin Rates
Webull Premium: 5.75%. Moomoo: 6.80%. If you trade on margin, Webull saves you about 1% annually—real money on larger balances.
Premium Subscription Value
Webull Premium ($40/year) bundles IRA match, lower margin, higher APY, and Level 2 data. It's excellent value if you use these features. Moomoo doesn't have an equivalent comprehensive package.
Where Moomoo Wins
Better Sign-Up Bonuses
Moomoo is currently offering up to $1,000 in NVDA stock for new accounts plus the 8.1% APY promotion. Webull's 2% deposit match is decent but doesn't match Moomoo's aggressive new customer offers.
8.1% Promotional APY
For your first 3 months, Moomoo pays 8.1% on up to $20,000 in uninvested cash. That's ~$400 in interest on a maxed balance over 3 months. After the promo, it drops to 4.1%—still competitive.
Free Level 2 Data
Real-time Level 2 market data (bid/ask depth) costs extra at most brokers. Moomoo includes it free. For day traders and active investors, this is valuable data for reading order flow.
Platform Comparison
Both platforms are feature-rich and similar in philosophy:
- Advanced charting with technical indicators
- Paper trading for practice
- Extended hours trading (4am-8pm ET)
- Social features and community discussion
- Free options trading
Moomoo has slightly better data visualization and research tools. Webull has a more polished mobile interface. Both are significant upgrades from Robinhood's simplicity.
The Ownership Question
Let's address this directly. Both companies have been scrutinized by Congress:
- Webull: Owned by Fumi Technology. Has faced questions about ties to China and data access.
- Moomoo: Subsidiary of Futu Holdings, which has Tencent (major Chinese tech company) as a significant investor.
What this means practically:
- Your money is protected by SIPC insurance (same as any US broker)
- Both are regulated by FINRA and the SEC
- Your personal data could theoretically be accessed by Chinese entities
- If US-China relations deteriorate significantly, there could be regulatory risk
If this concerns you, Fidelity, Schwab, and Robinhood are US-based alternatives with similar features (minus some of the aggressive bonuses).
Who Should Choose Webull?
- IRA investors who want the 3.5% match
- Margin traders wanting lower rates
- Those who want one premium subscription for everything
- Investors comfortable with Chinese ownership
Who Should Choose Moomoo?
- New investors chasing aggressive sign-up bonuses
- Those who want free Level 2 data
- Short-term cash parkers wanting 8.1% APY
- Data-focused traders who want deep research tools
The Verdict
If you're opening an IRA, Webull Premium wins decisively with the 3.5% match. The math is overwhelming.
If you're opening a taxable account and want maximum bonuses, Moomoo is currently more generous for new customers.
If Chinese ownership concerns you at all, neither is the right choice—consider Fidelity or Schwab instead.