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Teo Jun Yeow

Posted on 12 Feb 2021

Is Futu (moomoo) better than tiger brokers?

I have been using FUTU- moomoo for the past 2 weeks.. and here is my review.

Pros:

1) cheaper than tiger broker (currently having free one year commission for US and HK market trading), excluding platform fee ($1/trade) and gst

2) Free level 2 market data for US market

3) Deposit 2K usd to get 1 Apple stock- just deposit 2k usd, waiting for the free share

4) Fast and excellent customer service- tried a few enquiries and get connected to an agent within a minute

5) Good TA tool for pro trader

1 comment

7 answers

Discussion (7)

Customer Service

For people who mentioned that their Customer Service is excellent, I beg to differ.

Although Tiger Brokers' customer service has a pretty long waiting time, they answer promptly when I question them and they showed basic understanding to my questions. Meanwhile Futu's customer service immediately logged in but took extremely long to respond to a question and worst yet, they did not understand my question in the first place.

User Interface and User Experience

Tiger Brokers' blew my mind, for a Singaporean application (cause it was allowed in Singapore as Robinhood, Webull and other brokerages were not available in Singapore and thus I could never use their applications)... It was amazing, it was way better than the old brokerages like FSMOne, IKBR, TD Ameritrade or CIMB Itrade. Their translation is a little funky however, some stuff cannot be fully translated into English. So some remnants of Chinese words are left there.

Likewise, Futu is similar to Tiger Brokers. I was pretty shocked to see yet another, brokerage application that is available in Singapore look so good. They are almost the same, Futu however, is slightly more complex in their structuring of the market analysis and their naming for buy and sell.

Deposit

The deposit for Tiger takes about 1-5 mins, the deposit for Futu takes 1-3 days.

Exchange Rate

Tiger is better in terms of their currency conversion rate from SGD to USD​​​

4

2 more comments

LavenderBlue

LavenderBlue

06 Mar 2021

Thank you for the response and for sharing your experience! Appreciate it :)

See Kay

14 Mar 2021

I concur with Sean, as I experienced the same thing with MooMoo. The agent simply inexperienced with their own product. I was asking them simple question on submitting a Long Buy, but they were unable to answer me till today. What a shame.

Post

Mofei Chen

Mofei Chen

Level 3. Freshie

Posted on 12 Mar 2021

Moomoo is less transparent compared to Tiger as it intentionally not mentions anything about its platform fees. But the overall cost of Moomoo is higher than Tiger. A bit shady for Moomoo I think

0

Post

Teo Jun Yeow

Teo Jun Yeow

Level 2. Freshie

Updated on 16 Mar 2021

Tiger brokers vs moomoo comparison(as of 10 march)

US market- moomoo (cheaper)

HK market- not much ...

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