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Alpaca vs Moomoo
The same facts side by side. Swap a broker from the menu under its logo; the best value in each row is marked.
- Alpaca leads
- 1
- Moomoo leads
- 3
- Level
- 6
Of 10 scored facts, Alpaca leads on 1, Moomoo on 3, and 6 are level. Countries and the offer are not scored.
Head-to-head
The best value in each row is marked; rows where every broker matches carry no mark.| Fact |  Alpaca |  Moomoo |
|---|---|---|
| Fee per contract | $0 per contract | $0 per contract |
| Alpaca, Partner, index and professional rates differ | Moomoo, Index, non-retail and other fees extra | |
| Exercise and assignment | Not published | Not published |
| Approval | Spreads | NakedBest |
| Alpaca, Up to defined-risk spreads | Moomoo, Up to naked short options | |
| 0DTE | Yes | Yes |
| Index options (SPX) | Yes | Yes |
| Options on futures | No | No |
| Spreads in an IRA | No | No |
| Portfolio margin | Not published | Not published |
| Margin rate | 6.25%Best | 6.80% |
| Platforms | Web, API | Desktop, Mobile, APIBest |
| Paper trading | Yes | Yes |
| 24/7 support | Not published | No |
| Countries | US and worldwide; support confirms if your country is supported | US residents and non-US residents whose ID country is listed in the app |
| QuantWheel | Sync · Trade soon | Trade & SyncBest |
| Alpaca, Reads the account; placing orders from QuantWheel is coming soon | Moomoo, Reads the account and places the orders you approve | |
| Offer |
Facts from each broker's fee schedule and options agreement, checked 8 October 2026. Best marks the lowest cost or the widest allowance in a row.
The two brokers
One paragraph each.Alpaca$0 per contract · exercise fee not published · spreads
Alpaca opens options accounts for residents of the United States and the United Kingdom, among the 9 countries this directory covers. It charges $0 per contract (Partner, index and professional rates differ). It does not publish its exercise and assignment fees. It approves up to defined-risk spreads. It trades on Web, API. QuantWheel syncs positions and trades from the account and suggests; placing orders from QuantWheel is coming soon, so today you place them at the broker.
Moomoo$0 per contract · exercise fee not published · naked
Moomoo opens options accounts for residents of the United States, among the 9 countries this directory covers. It charges $0 per contract (Index, non-retail and other fees extra). It does not publish its exercise and assignment fees. It approves up to naked short options. It trades on Desktop, Mobile, API. QuantWheel syncs positions and trades from the account and suggests; with Trade & Sync the orders you approve go to the broker from QuantWheel.
What each costs for the way you trade
A year of fees from each broker's published prices, checked 7 and 8 October 2026.
- Alpaca$0.07 a trade, 10% of your premium, fee not published
- $1,194 a year
- Moomoo$0.07 a trade, under 0.1% of your premium, fee not published
- $6.74 a year
Moomoo is $1,188 a year lower on the fees it publishes, and it does not publish every fee this strategy needs
Not counted because Alpaca does not publish them: assignment fee, platform fee, inactivity fee. Not counted because Moomoo does not publish them: assignment fee, live options quote price, inactivity fee.
Estimates from published fees. Your broker statement can differ, and brokers change fees. A fee a broker does not publish is never counted as $0.
Questions people ask
Alpaca vs Moomoo