For active traders focused on derivatives, Moomoo and Webull are two of the strongest contenders among modern, commission-free brokers. The winner depends on whether you prioritize data depth and customization (Moomoo) or a slightly more expansive options platform (Webull).
1. Options Trading: Fees, Tools, and Strategy
Both platforms offer commission-free trading on US stocks and ETFs, and both eliminate the commission fee on equity options trading. However, they differ slightly in features and niche pricing.
| Feature | Moomoo | Webull | Winner for Options |
| Equity Options Fee | $0 commission / $0 contract fee | $0 commission / $0 contract fee | Tie |
| Index Options Fee | $0.50 per contract | $0.55 per contract | Moomoo (Slightly cheaper for index options) |
| Strategy Builder | Offers a variety of complex strategies (up to 13), detailed P&L analysis, and volatility analysis. | Offers comprehensive multi-leg strategy builders, predefined combinations (straddles, condors), and a TurboTrader interface. | Webull (Slightly more user-friendly and feature-rich strategy tools like TurboTrader). |
| Unique Tools | Unusual Options Activity scanner, 0DTE (Zero Days To Expiration) volume indicator, and earnings report analysis for options. | Options Statistics Insights (AI-driven analysis), Options Probability Analysis (useful for earnings), and a robust Options Screener. | Moomoo (Unique focus on unusual activity and 0DTE data is a key advantage for advanced traders). |
| Margin/Collateral | Margin is typically tied directly to assets, making selling naked puts and other strategies straightforward. | Requires funding of a margin account first; may feel slightly more traditional in margin allocation. | Moomoo (For ease of leveraging existing assets for option selling). |
Options Winner: Moomoo (Slight Edge). The combination of the slightly cheaper index options, $0 equity contract fees, and unique tools like Unusual Options Activity give Moomoo a slight advantage for active options traders who prioritize market data insights.
2. Market Data & Research Tools
This is where both brokers heavily invest to attract power users. Moomoo generally provides greater data depth for free, while Webull offers powerful AI-driven analysis.
| Feature | Moomoo | Webull | Winner for Data & Research |
| Platform | Desktop, Web, & Mobile. Robust, multi-window desktop platform built for advanced charting and analysis. | Desktop, Web, & Mobile. Excellent cross-platform experience, recently focusing on powerful desktop functionality. | Moomoo (Historically favored for its robust, professional-grade desktop interface). |
| Level 2 Data | Free Level 2 Market Data (up to 60 price levels) for US stocks. | Free Level 2 (Nasdaq TotalView) initially (often for 3 months), then requires a paid subscription. | Moomoo (Offering this critical data tool for free is a huge competitive advantage). |
| Technical Tools | Access to 63 technical indicators and 38 charting tools on the desktop platform. | Access to over 60 indicators and 20+ drawing tools, plus customizable charts. | Moomoo (Offers slightly greater volume of indicators and charting tools). |
| AI/Insights | Features AI alerts and market movement analysis. | Recently launched Vega, an AI-powered decision partner providing real-time, personalized insights and Plain-Language Orders (voice commands). | Webull (Pioneering the AI decision-partner space with its Vega platform). |
| International Access | Offers access to 5 global markets (US, HK, SG, CN, MY) from a single account. | Supports US and a limited number of other global markets (depending on regional version). | Moomoo (Superior if you plan to trade globally beyond US markets). |
Data & Research Winner: Moomoo. The fact that Moomoo offers free, ongoing Level 2 data is often the deciding factor for active traders and analysts. While Webull's AI is powerful, Moomoo's depth of free technical indicators and its advanced desktop platform give it the edge for sheer data quality and accessibility.
🏆 Overall Winner: Moomoo (For Advanced Options & Data)
For the trader prioritizing options execution costs, deep market data, and advanced technical analysis tools, Moomoo comes out on top.
- Choose Moomoo if:
- You are an active options trader who values zero contract fees on equity options and slightly lower fees on index options.
- You need free Level 2 data and specialized features like the Unusual Options Activity scanner.
- You plan to do a lot of analysis on a desktop or multi-monitor setup.
- Choose Webull if:
- You are an intermediate trader who prefers a cleaner interface with powerful, but simplified, charts and analysis.
- You want access to retirement accounts (IRAs), which Moomoo does not currently offer.
- You are intrigued by the potential of AI-driven insights (like Vega) to simplify your decision-making.
