moomoo vs Saxo — which broker is better?

Pros

• Free Nasdaq TotalView Level 2 depth on the US platform — Webull charges USD 3.99 per month for comparable data
• USD 0 commission and USD 0 contract fee on US stocks, ETFs and equity options for US residents
• A desktop terminal with institutional-holdings tracking, heat maps, an options strategy builder and 100+ indicators, plus the newer moomoo NX shell
• Parent Futu Holdings is Nasdaq-listed (FUTU) and clearing runs through an in-house FINRA/SIPC member, Futu Clearing Inc., rather than a third party
• Five regulated entities across the US, Singapore, Australia, Canada and Malaysia, including CIPF cover of CAD 1,000,000 for Canadian clients
• No inactivity fee, no maintenance fee, no minimum deposit, and free ACH in and out
• Multi-market equity access — US, Hong Kong and China A-shares appear on the same platform, which most zero-commission apps cannot do

Cons

• Available to residents of only seven countries — the United States, Canada, Singapore, Australia, Japan, Malaysia and New Zealand — with no EU, UK or DACH entity
• Parent company Futu was publicly named by China's CSRC in 2022 over unlicensed cross-border brokerage; mainland onboarding stopped and the apps were removed from mainland stores in 2023
• Trustpilot sentiment is mixed at roughly 2.4–3.4 out of 5 depending on locale, with slow support responses the most common complaint
• No futures, no bonds and no traditional mutual fund supermarket for US retail clients — futures exist only via the Singapore and Australia entities
• Non-US residents pay a materially worse schedule on the same US market: USD 0.005 per share with a USD 1.00 order minimum
• Only ACH moves money for free: an outgoing wire costs USD 20 domestic or USD 25 international, and an outgoing account transfer costs USD 75

Pros

• Full Danish banking licence (Finanstilsynet licence 1149) and SIFI designation — a stronger structural safeguard than a broker-only permission
• US stocks and ETFs at 0.08% with a USD 1 minimum on the entry-level Classic tier, and 0.05%/0.03% at higher tiers
• Roughly 71,000 instruments including 23,000 stocks, 7,400 ETFs, 5,200 bonds, 3,100 listed options and 250 futures across 50-plus exchanges
• SaxoTraderGO and the mobile app are the best-designed retail trading interfaces in Europe, and the app is not a cut-down version of the web platform
• Mutual funds carry no transaction commission, no custody fee and no platform fee
• One of very few retail platforms with a genuinely usable bond offering — 5,200 government and corporate issues with live prices
• No inactivity fee, no minimum deposit on Classic, and free withdrawals
• Majority-owned by J. Safra Sarasin since 2026, adding a large private-banking group behind the balance sheet

Cons

• Currency conversion costs 0.25% over mid-market for EU and Swiss clients, and up to 0.60% at the UK entity's Classic tier — the single largest hidden cost for cross-currency investors
• A holding fee of up to 0.15% a year on shares, ETFs and bonds still applies at several booking entities; coverage varies by country and is easy to overlook
• No spot cryptocurrency trading — exposure is limited to exchange-traded products
• No fractional shares on ordinary orders, so building small positions in high-priced US stocks is awkward
• Bank transfer is the only funding route since card deposits were withdrawn in April 2025
• Trustpilot sentiment sits around 3.8 with responsiveness of support the recurring complaint, despite good published coverage