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Comparing Syfe vs Moomoo
Like many, as I started to invest, I wondered which online trading platform was better. Even asking “Professor Google” did not help much as literally every review was a paid review. Not knowing better, I took the plunge and I started with a Syfe account and eventually opened a Moomoo account too.
The following are my thoughts after having used the two platforms for the past three months:
Exchange Rates
As I trade the US market, exchange rate is important to me. Of the two platforms, Syfe provides the better rate. Correct as at 10am on 10 January 2023, if you converted SGD1,000 to USD for your trading accounts, you will receive the following:
- Syfe = USD750.06 (a discount of 0.26% off the official exchange rate)
- Moomoo = USD749.52 (a discount of 0.34% off the official exchange rate)
[Syfe wins this comparison, but I would contextualize that you are getting USD0.54 more per SGD1,000.]
“Zero Commission”
Both platforms tout zero commission charges for trading US stocks. While this is technically true, both platforms however charge you a platform fee. Syfe charges USD1.49 per transaction, but they…
