74-89% of retail investor accounts lose money when trading CFDs with this provider.
50% of retail investor accounts lose money when trading CFDs with this provider.
Comparison Summary
Moomoo and eToro are both ASIC-regulated brokers available to Australian residents, but they take very different approaches to investing. If you're trying to decide between the two, the choice mostly comes down to what you actually want to trade and how much hand-holding you're after.
What They Have in Common
Both platforms offer commission-free or low-cost stock trading, mobile apps for iOS and Android, fractional shares, and free demo or paper trading accounts. They're both regulated by ASIC, which means your funds sit in segregated accounts and you get the standard Australian investor protections. Currency conversion fees are almost identical at around 0.5% for AUD to USD.
Key Differences
Moomoo is a pure equity platform. You get ASX stocks with CHESS sponsorship (meaning shares are registered directly under your name), US stocks, Hong Kong shares and US options. The analytical tools are genuinely impressive for a free platform. TradingView integration, Level 2 market data, algo trading and pattern recognition all come included. But there's no forex, no crypto, no CFDs and no commodities. If you want anything beyond stocks and ETFs, Moomoo can't help you.
eToro goes wide rather than deep. Over 5,000 instruments across stocks, ETFs, forex (55 pairs), crypto (70+ coins), commodities and indices. The copy trading feature is the standout. You can browse thousands of public trader profiles, filter by risk score and performance, then automatically replicate their trades. The tools are more basic than Moomoo's, though, and experienced technical traders may find them limiting.
In short: Moomoo is the better pick for serious equity investors who want advanced tools and direct share ownership. eToro suits beginners and anyone who wants multi-asset access with the option to learn by copying other traders.
Key Metrics Score
|
Moomoo
|
eToro
|
|
|---|---|---|
| Overall score | 4.4/5 | 4.6/5 |
| Trust score | 4.8/5 | 5.0/5 |
| Fees score Overall assessment of the broker's fee structure compared to industry standards | 4.5/5 | 4.4/5 |
| Platforms score | 4.7/5 | 4.4/5 |
| Tradable assets | 3.4/5 | 4.8/5 |
| Customer support | 4.5/5 | 4.3/5 |
| Education | 4.0/5 | 4.5/5 |
Pros & Cons
Advantages Moomoo
- CHESS-sponsored ASX trading with direct share ownership under your HIN.
- Low commissions: AUD $3 for ASX trades and USD $0.99 for US stocks.
- Professional-grade charting with TradingView integration and 110+ indicators free.
- Free real-time Level 2 market data across all supported markets.
- No inactivity fees and no account administration fees.
- Cash Plus pays 3.75% p.a. interest on uninvested cash.
- US options trading available from USD $0.50 per contract.
- Minimum deposit of just $1 AUD.
Advantages eToro
- Copy trading lets you automatically replicate successful traders' positions.
- Over 5,000 instruments across stocks, ETFs, crypto, forex and commodities.
- Commission-free stock and ETF trading with competitive spreads.
- Clean, beginner-friendly interface that's easy to pick up from day one.
- Fractional shares available for smaller investments.
- Excellent structured educational courses covering all experience levels.
- Smart Portfolios offer curated thematic investing.
- Club tiers unlock fee reductions, interest on cash and Lloyd's insurance.
Disadvantages Moomoo
- No forex, CFDs, crypto, bonds or commodities trading.
- Only three markets: ASX, US and Hong Kong.
- Currency conversion spread of approximately 0.5% for AUD to USD.
- No leverage or margin trading on the Australian platform.
- Interface can feel overwhelming for complete beginners.
- Trustpilot rating sits low at 2.4/5, though app store reviews are much stronger.
Disadvantages eToro
- Forex and CFD spreads are higher than specialised brokers.
- 0.5% currency conversion fee on every AUD deposit.
- $5 USD withdrawal fee on every withdrawal.
- $10 monthly inactivity fee after 12 months without logging in.
- No phone support on standard accounts, AI chatbot only for live chat.
- Technical analysis tools are fairly limited for advanced traders.
Fees
Fees are where these two platforms really diverge. Moomoo charges small flat commissions per trade but has virtually no other costs. eToro uses a spread-based model with a $2 stock trading fee, plus a few non-trading charges that can catch you off guard if you're not paying attention.
For ASX stocks, Moomoo's AUD $3 flat fee is hard to beat, especially for trades under $10,000. eToro charges $2 per trade (opening and closing), which is cheaper per transaction but remember eToro doesn't offer CHESS sponsorship on ASX shares. On US stocks, Moomoo's $0.99 flat rate edges out eToro's $2 fee, particularly on smaller trades.
Where eToro gets more expensive is the extras. The $5 withdrawal fee hits every time you take money out. The $10 monthly inactivity fee can sneak up on you if you step away from trading for a while. Moomoo charges neither. Both platforms hit you with roughly 0.5% on currency conversion, so that's a wash.
|
Moomoo
|
eToro
|
|
|---|---|---|
| Fees score Overall assessment of the broker's fee structure compared to industry standards | 4.5/5 | 4.4/5 |
| ASX stock fees Commission charged per ASX stock transaction | AUD $3 or 0.03% | $2 per trade |
| US stock fees Commission charged per US stock transaction | USD $0.99 flat | $2 per trade |
| Forex spreads The typical spread for forex currency pairs | Not available | From 1 pip |
| Crypto fees Fee charged for cryptocurrency transactions | Not available | 1% per trade + spread |
| Withdrawal fee Fee charged when withdrawing funds from your trading account | $0 | $5 USD |
| Deposit fee Fee charged when depositing funds into your trading account | $0 | $0 |
| Currency exchange fee Fee charged when converting between different currencies | ~0.5% | 0.5% |
| Inactivity fee Monthly fee charged if you don't trade or log in for an extended period | $0 | $10/month after 12 months |
Trading Platforms
This is where Moomoo pulls ahead by a clear margin. The desktop app feels closer to an institutional terminal than a retail platform. TradingView integration, Level 2 data, algo strategy building, pattern recognition and market depth analysis all come bundled in for free. I've used platforms that charge monthly subscriptions for less.
eToro takes the opposite approach. The web platform is clean, easy to navigate and gets beginners up and running quickly. ProCharts adds some depth with multi-indicator charting and pattern drawing tools, but it's not in the same league as Moomoo's offering for technical analysis. There's no desktop app at all, which is fine for casual investors but a limitation for anyone doing serious screen-based analysis.
On mobile, both apps are well built. Moomoo won "Best Stock Trading App" at the 2024 FinTech Breakthrough Awards and took out multiple categories in the 2026 Finder Awards. eToro's mobile app is simpler but effective for monitoring positions and making quick trades.
|
Moomoo
|
eToro
|
|
|---|---|---|
| Platforms score | 4.7/5 | 4.4/5 |
| Web Platform | Advanced | User-friendly |
| Desktop App | Full-featured | Not available |
| Mobile App | Award-winning | Beginner-friendly |
| Google Play score |
4.5/5
46k+ reviews
|
3.8/5
150k+ reviews
|
| App Store score |
4.7/5
550+ ratings (AU)
|
4.3/5
13k+ reviews
|
| Copy Trading | Not available | CopyTrader |
| Algo Trading | Moomoo Algo | Not available |
Trustpilot Ratings
On Trustpilot, eToro fares significantly better with a 4.2/5 rating from over 30,000 reviews. That said, the reviews are heavily polarised: 66% give five stars while 21% give just one star, with customer support being the most common complaint.
Moomoo sits at a much lower 2.4/5 from roughly 240 reviews. The complaints tend to focus on promotional offer issues and customer support, though the small review count makes it less statistically reliable. The app store ratings paint a more positive picture for Moomoo, with 4.7 on Apple and 4.5 on Google Play, both comfortably ahead of eToro's app store scores.
Trading Assets
This is where the biggest gap between the two platforms sits. eToro offers a broad multi-asset experience with over 5,000 instruments. Moomoo keeps things focused on equities and options across three markets. Neither approach is wrong, but they suit different types of investor.
If you only trade stocks and ETFs, Moomoo's 22,000+ securities and CHESS-sponsored ASX access may actually be the stronger offering. But the moment you want to trade forex, crypto or commodities, eToro is your only option of the two.
|
Moomoo
|
eToro
|
|
|---|---|---|
| Tradable assets score | 3.4/5 | 4.8/5 |
| Stocks | 22,000+ (ASX, US, HK) | 4,500+ (global) |
| ETFs | ASX & US | 200+ |
| Forex Pairs | Not available | 55 pairs |
| Cryptocurrencies | Not available | 70+ coins |
| Commodities | Not available | 30+ |
| Options | US options | Not available |
| CFDs | Not available | Available |
| Fractional Shares | US stocks | Available |
Demo Account
Both brokers offer free practice accounts with no time limits, which is genuinely useful for testing strategies and getting familiar with the platforms before committing real money.
eToro gives you $100,000 in virtual funds and full access to all platform features, including copy trading. Moomoo calls its version "paper trading" and provides virtual funds with the same tools and data as a live account. We found Moomoo's paper trading particularly handy for testing the Algo tool. You can build a strategy, backtest it and run it in simulated conditions before putting real money on the line.
| Demo Feature |
Moomoo
|
eToro
|
|---|---|---|
| Virtual Money | Virtual funds | $100,000 |
| Duration | Unlimited | Unlimited |
| Full Feature Access | Yes | Yes |
| Copy Trading in Demo | N/A | Yes |
Education
eToro takes the lead here. The Trading Academy offers structured courses from beginner level through to advanced strategies, all free. Topics cover stocks, forex, crypto, CFDs and macroeconomics. The courses include video lessons, written guides and practical examples. We were genuinely impressed with the depth and quality of the beginner content.
Moomoo's educational offering is more modest but growing. The "Courses" section covers placing orders, managing options strategies, and general market concepts. Moomoo also runs live webinars with market analysts, and the Moo Community forum (23 million+ members globally) adds a social layer where users share analysis and ideas. The quality varies, as you'd expect, but there are some insightful contributors.
One area where Moomoo has an edge: using paper trading as an educational tool. The ability to practice strategies in real market conditions, including algo backtesting, is something eToro's demo doesn't replicate to the same degree.
|
Moomoo
|
eToro
|
|
|---|---|---|
| Education score | 4.0/5 | 4.5/5 |
| Video Courses | Growing library | Extensive |
| Trading Guides | Basic | In-depth |
| Webinars | Regular | Live courses |
| Community | Moo Community | Social feed |
Safety & Regulation
Both brokers hold ASIC licences and keep client funds in segregated accounts, so the baseline regulatory protection is solid on both sides. The differences are in the details.
Moomoo Securities Australia operates under AFSL 224663. Client cash sits in segregated trust accounts at HSBC Bank Australia. ASX shares benefit from CHESS sponsorship, which means they're registered on the ASX under your own name, independently of the broker. US securities carry SIPC coverage up to USD $500,000. The parent company, Futu Holdings, is NASDAQ-listed with a market cap of roughly A$18.9 billion, which adds an extra layer of public accountability through SEC and ASIC reporting requirements.
eToro operates under ASIC licence 491139. Client funds are held at major institutions including J.P. Morgan and Deutsche Bank. There's no CHESS sponsorship, so ASX shares are held under a custodial model. For higher-balance accounts (Platinum tier and above), eToro offers additional insurance through Lloyd's of London covering up to 1 million AUD.
|
Moomoo
|
eToro
|
|
|---|---|---|
| Trust score | 4.8/5 | 5.0/5 |
| ASIC Regulation | AFSL 224663 | AFSL 491139 |
| CHESS Sponsorship | Yes | No (custodial) |
| Segregated Funds | HSBC Australia | J.P. Morgan, Deutsche Bank |
| Additional Insurance | SIPC (US securities) | Lloyd's up to 1M AUD (Platinum+) |
| Two-factor auth | Yes | Yes |
| Parent Company | Futu Holdings (NASDAQ: FUTU) | eToro Group Ltd |
Deposit and Withdrawal
Getting money in is straightforward with both brokers. Getting money out is where eToro's $5 withdrawal fee becomes a minor annoyance, especially if you make smaller, more frequent withdrawals.
Moomoo accepts deposits via bank transfer and PayID, with a minimum of just $1 AUD. Withdrawals to Australian bank accounts are free. eToro accepts bank transfers, credit/debit cards, and PayPal, with a minimum deposit of $50 USD. Every withdrawal costs $5 USD regardless of the amount, and the minimum withdrawal is $30 USD.
|
Moomoo
|
eToro
|
|
|---|---|---|
| Minimum deposit The lowest amount required to open and fund a trading account | $1 AUD | $50 USD |
| Bank Transfer Direct bank transfer for deposits and withdrawals | Available | Available |
| PayID Instant Australian payment system | Available | Not available |
| Payment Cards Credit and debit card payments (Visa, Mastercard) | Not available | Available |
| PayPal Digital payment via PayPal | Not available | Available |
| Withdrawal fee Fee charged when withdrawing funds | $0 | $5 USD |
Customer Support
| Support Feature |
Moomoo
|
eToro
|
|---|---|---|
| Customer Support Score Overall rating of support quality, response time, and helpfulness | 4.5/5 | 4.3/5 |
| Availability Hours per day and days per week when support is available | 24/7 trading days | Weekdays only |
| Live Chat Real-time text chat support with customer service representatives | Human agents | AI chatbot only |
| Phone Direct phone support with customer service representatives | Available | Not on standard accounts |
| Email Email-based customer support | Available | Available |
Support Quality Assessment
Moomoo Customer Support
Moomoo offers phone support, live chat with actual human agents, and email. The team operates from their Sydney office on George Street, which is reassuring. When we tested the live chat during US market hours, we were connected to a real person within a few minutes and got a specific, helpful answer to our question about options settlement. Support runs 24/7 on trading days and reduced hours on weekends and public holidays.
eToro Customer Support
This is probably eToro's weakest area. Standard accounts get email support and an AI chatbot that mostly redirects you to FAQ pages. There's no phone support unless you're in the eToro Club (Silver tier and above, requiring at least $5,000). When we tested the chatbot, it handled basic questions fine but struggled with anything specific. Email response times can stretch to 1-2 business days.
Overall Assessment
Moomoo wins on customer support by a wide margin. Multiple contact channels including phone and human live chat, a local Sydney team, and broader availability hours. If you value being able to reach a real person when you need help, Moomoo is the clear choice here. eToro's support improves at higher account tiers, but for standard accounts it's a weak point.
50% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.