Based vs Moomoo
Moomoo is the data-heavy trading app from Futu, popular with active traders in the US and Asia.Based is a self-custody wallet for trading Hyperliquid's 24/7 markets. Different tools built on different assumptions. Here is how they actually compare, without trash talk.
Side by side
| Feature | Based | Moomoo |
|---|---|---|
| What it is | A self-custody wallet for trading on Hyperliquid, a decentralised platform. Not a broker. | A regulated brokerage platform holding customer accounts. |
| Trading hours | 24/7. Nights, weekends and holidays included. | US stocks roughly 24/5 including overnight sessions. Closed on weekends. |
| Custody | Self-custodial. Assets stay in a wallet you control; Based never holds them. | Custodial. Assets sit in your Moomoo brokerage account. |
| Markets | Perpetual futures on Hyperliquid tracking US and Asian stocks, plus crypto perps and prediction markets. Derivatives with liquidation risk and funding fees, not share ownership. | US stocks and options, Hong Kong stocks, and more depending on your country's Moomoo entity. |
| Account requirements | No brokerage account and no bank account. A self-custodial wallet funded with USDC. | Brokerage account with identity verification and bank funding. |
| Fees | No commissions. All-in from 0.011% taker and 0.005% maker on stock perps, discounts for staking. | Low or zero commissions on US stocks, depending on region and promotions. |
Who Based suits
Based suits traders who like Moomoo's around-the-clock ambitions but want the last gap closed: weekends. It also suits anyone who wants Korean names like SK Hynix directly, self-custody, and funding without a bank account.
Who Moomoo suits
Moomoo suits active traders who want deep market data, screeners and charts wrapped around real share ownership in US and Hong Kong markets. Its analytics tooling is a real strength.
Want the mechanics behind the differences? How trading without a broker works and market hours vs 24/7 trading cover them in plain terms. Or jump straight to a market: NVDA, TSLA or the full markets list.
Frequently asked questions
- Is there a Moomoo alternative that trades 24/7?
- Yes. Moomoo covers US stocks close to 24/5 with overnight sessions, but weekends stay closed. The Hyperliquid markets you reach through Based run all seven days. You trade perpetual futures tracking stock prices from a self-custodial wallet, with no brokerage account and no bank account.
- Can I trade on weekends with Moomoo?
- Not stocks. Moomoo's US overnight trading runs on weeknights only, so from Friday evening until Sunday evening the stock market is out of reach. Weekend trading is exactly the gap Based covers.
- Does Based offer Hong Kong or Korean stocks?
- Through Based you can trade 24/7 Hyperliquid markets on major Asian names, including Korean stocks like SK Hynix and Samsung that most US-facing brokers skip entirely. These are USD-quoted perpetual futures tracking the local share price, so there is no foreign account setup.
- Do I need a bank account to use Based?
- No. You fund a self-custodial wallet with USDC and trade. Moomoo, like other brokerages, is funded through a bank.
Start in three steps
- Step 1
Connect a wallet
Any self-custodial wallet works. No account application, no paperwork.
- Step 2
Fund it
Deposit USDC. You do not need a bank account to do it.
- Step 3
Trade 24/7
Stock perps, crypto perps and prediction markets. Nights, weekends, holidays.
Based is a self-custody wallet, not a broker. Markets are perpetual futures on Hyperliquid: derivatives with liquidation risk and funding fees, not the underlying stocks or coins.