An Exciting Showdown: Public.com Battles Moomoo in a Comprehensive Comparison.
If you’re thinking about getting into investing, you’re going to need a good trading platform that’s affordable. Two great options are Public.com and Moomoo. Here we’ll compare these platforms to help you figure out the best fit for you.
Public.com tends to be ideal for beginners due to its easy-to-use interface while Moomoo is typically better for experienced traders because it offers an impressive selection of tools and data. By joining Public, you can get up to $300 of free stock when you make a deposit. Similarly, joining Moomoo gives you the chance to get up to 15 free stocks worth up to $30,000 in total.
Public.com has been around since 2018 and offers commission-free trades of U.S. stocks and ETFs (exchange-traded funds). It’s unique because it’s kind of like combining a trading platform with a social media network. You can connect with other users, share strategies, and learn from more experienced traders.
Moomoo, which came onto the scene in 2019, is a trading app that also offers commission-free trading of stocks and ETFs. In addition to U.S. stocks, Moomoo users can also trade on the Hong Kong Stock Exchange, and trade options and American Depository Receipts (ADRs), which allow Americans to invest in foreign companies.
Both platforms offer a selection of stocks and ETFs. Public.com has more than 5,000 to choose from and you can also purchase fractional shares, which are just pieces of full shares, making it easier to invest in companies with high share prices like Amazon or Google. Public.com also offers over 25 cryptocurrencies.
Comparatively, Moomoo offers over 11,000 U.S. stocks, ETFs, and OTC stocks, which gives you a broader range of choices than Public.com. However, Moomoo does not currently support fractional shares or cryptocurrency trading.
When it comes to platform features, Public.com is great for its social collaboration and holds the option of Dividend Reinvestment Plans (DRIP) that help your investment dollars grow faster. Moomoo has more advanced tools like financial reports, capital flow trends, and third-party ratings, to name a few. It also offers a “paper trading” feature that lets beginners practice trading with pretend money.
As for fees, both platforms don’t charge trading commissions, though there may be other incidental costs. If you wish to use Public.com to trade cryptocurrency, be aware that a markup of around 1% to 2% applies. Public.com also offers a Premium account for $10/month, which gives you access to advanced data, expert insights, and VIP support.
In terms of security, both platforms are protected through SIPC (Securities Investor Protection Corp), ensuring coverage up to $500,000 if the brokerage fails.
In sum, both platforms have their own strengths. Public.com is great for new investors interested in self-directed trading, especially those interested in crypto and fractional shares. Moomoo, on the other hand, is best suited for those confident in performing their own in-depth research and who want comprehensive charting and Level 2 market data. So take your trading needs and experience level into account before making a decision.
