moomoo vs. CIBC Investor Edge
Compare your options. Get the facts on each platform before you use them to know which one is right for you.
moomoo
- Low commission trading
- Powerful trading tools
- Global markets & trading community
CIBC Investors Edge
- Flat fee online equity trade
- Students & active traders get a discount
- Access free tools, research, and advice
moomoo vs. CIBC Investor Edge
Fees
| moomoo | CIBC Investor Edge | |
|---|---|---|
| Trading Fee | $0 CAD | $6.95 CAD |
| Deposit Fee | $0 CAD | $0 CAD |
| Withdrawal Fee | $0 CAD – $62 CAD | $0 – $100 CAD |
| Inactivity Fee | No | No |
moomoo has less fees overall, but a variable withdrawal fee depending on the method chosen. For EFT withdrawals, the first withdrawal each month is free, with a $2 CAD fee for subsequent withdrawals. For an RRSP account withdrawal, this is $50 CAD for the first withdrawal and $52 CAD for subsequent. For wire transfers, there is still a 1 free per month, with $12 CAD for additional withdrawals. RRSPs have the same $50 CAD charge with $62 CAD for additional.
Safety
| moomoo | CIBC Investor Edge | |
|---|---|---|
| Regulator | SEC, FINRA, MAS, ASIC, CIRO, SC, FSA | CIRO |
| Founding Year | 2018 | 1867 |
| Investor Protection | Yes | Yes |
CIBC Investor Edge and moomoo are quite different in terms of safety of use. CIBC Investor Edge has been around much longer than moomoo, but has less governing bodies. CIBC Investor Edge is run by a Canadian bank which is very trustworthy, however moomoo is also available in more countries worldwide with investor protection making it better for trading in and outside Canada. moomoo is a global company and has regulating bodies in the US, Singapore, Australia, Canada, Malaysia, and Japan.
Deposit and Withdrawal
| moomoo | CIBC Investor Edge | |
|---|---|---|
| Minimum Deposit | $0 CAD | $0 CAD |
| Bank Transfer Deposit | Yes | Yes |
| Bank Transfer Withdrawal | Yes | Yes |
| Credit/Debit Deposit | No | No |
| Credit/Debit Withdrawal | No | No |
| Paypal Deposit | No | No |
| Wise Deposit | No | No |
| Revolut Deposit | No | No |
| Other Electronic Wallets | No | No |
CIBC Investor Edge has the same number of deposit and withdrawal options as moomoo.
Overall
Overall, moomoo and CIBC Investor Edge are very close in terms of pros and cons, however CIBC Investor Edge does have trading fees which is not ideal when comparing it to moomoo’s no fee trading. Taking into account most users can keep their withdrawals to 1 per month for free withdrawals, moomoo makes the better option for trading in Canada.