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Tastytrade vs TradeZero vs Moomoo (2024)
Tastytrade vs Moomoo vs TradeZero—which is better? Compare investing accounts,
online trading fees, stock broker extended hours, and differences.
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Moomoo vs. TradeZero vs. Tastytrade Introduction
Moomoo, TradeZero, and Tastytrade are all strong contenders in active trading. But which one should you choose? Let’s dive in.
Cost Comparison
Services
Promotions
Tastytrade:
Get $250 for each trader you refer with this referral link.
Moomoo:
Get zero commissions at Moomoo.
Tradezero:
Trade stocks, options & ETFs for free.
Available Asset Classes
TradeZero, Moomoo, and Tastytrade all offer trading in:
- Stocks
- Options
- ETFs
- Closed-end funds
Tastytrade also offers cryptocurrencies, futures, and options on futures. TradeZero’s Caribbean branch offers cryptos, while Moomoo provides access to multiple Chinese stock exchanges.
None of these brokers offer managed accounts.
Winner: Draw between Tastytrade and Moomoo
Margin Trading
All three brokers offer margin trading. Moomoo charges a flat 6,8 for U.S. and Hong Kong positions. TradeZero also has a flat rate across all debit levels, currently 9. Tastytrade uses a tiered margin system that ranges from 10,5 to 7,5.
Moomoo’s software shows margin details like short interest rate and initial margin requirements for each ticker.
Winner: Moomoo
Computer Software
All three brokers offer websites and desktop platforms. TradeZero has several platforms, two of which (ZeroPro and ZeroWeb) come with a $59 monthly fee that covers both.
ZeroPro and ZeroWeb provide advanced features like hotkeys, multi-window charting, a stock screener, and custom layouts. Only ZeroPro offers options trading and the stock screener. ZeroFree is a no-cost platform that offers basic trading and charting without most of these features.
Moomoo offers a free desktop platform with a wide range of tools, including a social network and a Quant tool for creating automatic trading strategies. Charting is available in full screen with numerous tools, and the trade ticket includes bracket orders.
Tastytrade’s desktop platform includes bracket orders on its order form. The web-based version lacks bracket orders, and while charting on the browser isn’t great, it’s much better on the desktop app. Tastytrade is also unique in that it publishes recent trades by its top executives, which can be viewed on its platforms.
Winner: Moomoo
Mobile Apps
For those who need to trade on the go, all three brokers offer mobile apps. TradeZero’s app, which has no monthly fee, includes:
- A separate button for short selling
- News articles
- Watchlists
- Time & sales data
Tastytrade’s app has integrated option spreads, with a graphical order ticket that allows users to easily adjust strike prices. The equities order ticket has four types:
- Market
- Limit
- Stop
- Stop limit
Moomoo’s app offers eight trade types, including advanced options like market-if-touched and trailing stop. Its charting is superior to Tastytrade’s, with horizontal charts and numerous tools. The app also includes social networking features and detailed asset profiles.
Winner: Moomoo
Day Trading
Short Positions: All three brokers allow short selling. TradeZero offers a short locate tool, Tastytrade indicates if a security is hard to borrow, and Moomoo displays the number of shares available for shorting.
Level II Quotes: Available on TradeZero and Moomoo.
Direct Access to Market Venues: Only available at TradeZero.
Extended Hours: All three firms offer pre-market and after-hours trading. TradeZero and Moomoo have the longest sessions, while Tastytrade offers nearly 24/7 crypto trading.
Routing Fees and Rebates: Available only at TradeZero.
Day Trade Tracking: Moomoo and Tastytrade offer day-trade trackers on their desktop platforms. TradeZero has one on its account portal.
Winner: TradeZero
Supplementary Services
Cash Management: ACH and wire transfer tools are available at all three brokers.
IPO Access: Available only at Moomoo.
Fractional Shares: Not available at any of the brokers.
Individual Retirement Accounts: Tastytrade offers IRAs (with a $60 termination fee).
DRIP Service: Available only at Tastytrade.
Winner: Tastytrade
Recommendations
Active Stock Trading: TradeZero seems best for day trading, but its software fees might be a turn-off. Moomoo offers better value, especially for trading Chinese stocks.
Small Accounts: TradeZero isn’t ideal for small accounts. Moomoo and Tastytrade don’t charge any fees on taxable accounts and have no minimums.
Retirement Savers & Long-Term Investors: None of these brokers excel in this area. For better options, consider Schwab, which offers annuities, lifecycle mutual funds, branch locations, and financial-planning services.
Beginners: Moomoo’s paper trading is a great way to practice.
Mutual Funds: None of these brokers offer mutual funds, but Charles Schwab does.
Promotions
Tastytrade:
Get $250 for each trader you refer with this referral link.
Moomoo:
Get zero commissions at Moomoo.
Tradezero:
Trade stocks, options & ETFs for free.
Final Judgment
Moomoo is the overall winner here. We also like TradeZero for day trading, and Tastytrade is the best option for futures and crypto trading.
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Updated on 8/23/2024.
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