Moomoo vs Webull, Rakuten Trade, FSMOne and StashAway — the differences that really matter

“Daus, which is better, Moomoo or Webull?”

“I already have Rakuten. Should I move to Moomoo?”

“Is StashAway the same as Moomoo?”

Daus has to be honest before answering. Daus is a Moomoo Marketing Representative and earns a commission when people register through Daus’s link. So Daus will show the numbers from each platform’s official website, including where Moomoo loses, and let you judge for yourself.

Daus also uses more than one platform. US shares and ETFs and Bursa shares in Moomoo, gold and silver ETFs in Webull, and Bursa REITs in Rakuten Trade.

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First: broker or robo-advisor?

This is the most important difference, and many people miss it.

• Broker (Moomoo, Webull, Rakuten Trade, FSMOne) — you choose which shares or ETFs to buy, when to buy, and how much. Fees are charged every time you buy or sell.
• Robo-advisor (StashAway, and also Wahed) — you answer questions about your risk, then the platform picks a mix of ETFs and manages it for you, including rebalancing. You pay an annual management fee on the amount invested, and you don’t pick shares one by one.

Neither is better in an absolute sense. If you want to learn and choose for yourself, a broker suits you. If you don’t want to think about it at all, a robo-advisor is easier, but you pay for that convenience every year.

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Quick comparison

Standard fees (after promotions end), checked on each platform’s official website on 18 October 2026. Fees change. Check the platform’s website again before making a decision.

	Moomoo	Webull	Rakuten Trade	FSMOne	StashAway
Type	Broker	Broker	Broker	Broker + unit trust	Robo-advisor
Share markets	Bursa, US, HK, SG, China A	Bursa, US, HK, China A	Bursa, US, HK	Bursa, US, SG, HK, China, UK	Global ETF portfolio
US shares/ETFs per order	0.03% + USD0.99 platform fee	0.025%, minimum USD0.99	0.10% (with a minimum)	Shares 0.08%, min USD3.80. ETFs USD3.80	No per-order fee (annual management fee)
Fractional (under 1 unit)	Yes, from USD5	Yes, from USD1	Yes	Through a monthly ETF plan	Within the portfolio
Bursa shares per order	0.03% + RM3 platform fee	0.05%, minimum RM2.50	Tiered from RM1, maximum RM100	Shares 0.05%, min RM8.80	None
Ringgit deposit, buy US shares	Yes	Yes	Yes	Yes	Yes
Bursa share holding	Nominee account (special CDS for IPOs)	Nominee account	Nominee account	Nominee account	None
Money market fund	Cash Plus (including Islamic funds)	Available (Shariah fund)	None found	Available	Available
Shariah filter	Yes	Yes	Yes	Not confirmed	Shariah portfolio
Pick your own shares	Yes	Yes	Yes	Yes	No
Annual management fee	None	None	None	None for shares	0.8% a year for the first RM150,000, lower for larger amounts

Important notes for that table:

• Promotions. New Moomoo users get 180 days with no commission (the USD0.99 platform fee is still charged). Webull gives 0% commission on US shares for 365 days to new users, and until 31 December 2026 for existing users. These promotions don’t last.
• Small purchases in Moomoo. For orders under 1 unit, Moomoo charges 0.99% of the order value (maximum USD0.99), not the full USD0.99. How it’s calculated is in Moomoo fees.
• Ringgit to USD conversion. Only StashAway publishes its conversion spread (0.35%). Moomoo, Webull, Rakuten Trade and FSMOne don’t publish theirs, so Daus can’t compare this part fairly.
• Stamp duty and SST are charged under Malaysian rules, and how each platform charges them differs slightly.

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Moomoo vs Webull

This is the most common question.

Where Webull wins:

• Lower US share fees. Webull has no platform fee, so for full-unit orders, Webull’s cost per order is usually lower than Moomoo’s.
• Fractional from USD1, compared with USD5 at Moomoo.

Where Moomoo wins:

• Learning and research tools. Screener, Compare, Heat Map, Industry Chain, Investment Themes and Moomoo AI, which can answer in Bahasa Melayu. All of them have tutorials on this site.
• RSP (automatic purchases) for US shares and ETFs, with daily, weekly or monthly options.
• Cheaper Bursa shares for large orders. Moomoo is 0.03% plus RM3, Webull 0.05%. For a RM10,000 order, Moomoo’s commission is around RM6 (RM3 + RM3), Webull around RM5. For a RM50,000 order, Moomoo is around RM18, Webull around RM25. For small orders, Webull is slightly cheaper.
• A CDS account to apply for Bursa IPOs, straight from the app. The tutorial is in CDS account for IPOs.

Daus’s conclusion: if you only want to buy US ETFs every month and want the lowest fees, Webull is competitive. If you’re a beginner who wants to learn, do research, set up RSP, and have Bursa shares and IPOs in one app, Moomoo is more complete.

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Moomoo vs Rakuten Trade

Rakuten Trade is strong for small to medium Bursa share orders, because its fees are tiered and start as low as RM1 for small orders, with a maximum of RM100. It also has Shariah markers and a Bursa (Shariah) filter. Daus uses Rakuten Trade for Bursa REITs.

For US shares, Rakuten Trade’s rate is 0.10% per order, higher than Moomoo and Webull for large orders. According to Rakuten Trade’s own help page, you can’t apply for IPOs through a Rakuten Trade account.

“Should I move from Rakuten to Moomoo?” Not necessarily. If Rakuten already covers what you do, there’s no reason to move. Many people use two accounts for different purposes.

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Moomoo vs FSMOne

FSMOne is more of a one-stop shop: shares, ETFs, unit trusts, bonds and managed portfolios. It suits you if you want unit trusts and bonds in one place.

For shares, FSMOne’s minimum fees are higher (RM8.80 for Bursa shares, USD3.80 for US shares). For small orders, the fee percentage becomes large. FSMOne has a monthly ETF savings plan from RM100 a month with no processing charge.

A more detailed fee comparison of Moomoo and FSMOne is in Moomoo fees.

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Moomoo vs StashAway

This isn’t a like-for-like comparison. StashAway is a robo-advisor:

• You can’t pick shares one by one. StashAway picks a mix of ETFs based on your risk level.
• The management fee is 0.8% a year for the first RM150,000, lower for larger amounts. This is charged every year on the whole value of your investment, whether the market goes up or down.
• The ringgit to USD conversion spread is 0.35%.

If you buy an S&P 500 ETF yourself through a broker and hold it for a long time, you don’t pay an annual platform management fee, only the fee inside the ETF itself, which is usually very small. But you have to do it yourself: choose, buy, and rebalance.

If you want a Shariah-compliant robo-advisor, Daus has a Wahed tutorial at wahed.dausdk.com.

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Moomoo vs ASB, Versa, Money+ and bank savings

Many people compare Moomoo with ASB or Versa. In fact they are not competitors. They do different jobs:

	ASB	Versa Cash-i, Money+, Cash Plus	Moomoo (shares and ETFs)
Job	Save, fixed price of RM1 per unit	Keep money you might need anytime	Invest for the long term
Can the value fall?	Fixed unit price	Very slightly	Yes, it can fall 20% to 30%
Suited for	Medium-term savings (Bumiputera)	Emergency fund, money that’s waiting	Money for 5 years or more

Daus keeps safe money in ASB and Versa Cash-i, and invests for the long term in Moomoo. How to split your money across all of these is in sort your money before investing and short-term money.

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One account or many?

There’s nothing wrong with using more than one platform, as long as you know why. But for beginners, Daus suggests starting with one first. More accounts means more passwords, more minimum fees, and it’s harder to see all your money at once.

This content is educational sharing, not financial advice. Daus is a Moomoo Marketing Representative and receives referral commissions. Fees were checked on the official websites of Moomoo, Webull, Rakuten Trade, FSMOne and StashAway on 18 October 2026, and may change.