MooMoo vs Rakuten as NISA broker

[fvrther]

Hey,

I'm considering opening a NISA account for the first time and I'm comparing the different broker services. Since they're all very similar for the NISA, I'm mainly considering Rakuten (because they're the only bank that granted me a CC, yes I'm looking at you SMBC...) or MooMoo.

MooMoo has been offering NISA very recently and seems to be very popular abroad. Their app supports English, a rare beast in Japan, and they have a modern mobile app, which is unheard off in the Japanese banking industry (pun intended).

I am still skeptical of MooMoo as a company. Is there someone that's using them and can do a quick feedback on their NISA offering ?

Concerning Rakuten, I see them as a necessary evil in Japan. You can' t get around it. However, I can see that they're not in the best financial shape lately. I'm concerned about their future and their capacity to remain low fee while they hold my money on the long term. Should I be ?

[ChapInTokyo]

MooMoo is not ready for prime time as far as NISA goes because they only offer Japanese and foreign stocks (ie. no mutual funds) which means that you cannot invest in the tsumitate portion of NISA.

You can invest in the growth portion of NISA but only if you want to go with ETFs or individual stocks (rather than mutual funds) which I would not advise since you want to have the dividends automatically reinvested over the long term in order to have the power of compounding interest work in your favour.

As far as I could make out, MooMoo does not have a DRIP style dividend reinvestment plan for stocks or ETFs.

IMHO, MooMoo seems more suited for the active trader, rather than the long term investor which seems borne out by the awards they received for being best _trading_ platform.

As for whether Rakuten is a safe bet or not, I will leave it up to the Rakuten users on this board to chip in on their views on that.

[beanhead]

Rakuten's gamble on mobile phone service has not been successful yet.
Their finance-related businesses are healthy, and there has been some debate about whether this segment should be spun out and listed separately.

https://global.rakuten.com/corp/investo ... gment.html

Anyway, I wouldn't worry too much about Rakuten's future. If you don't like them, choose Monex or SBI instead.

[Tsumitate Wrestler]

Rakuten's gamble on mobile phone service has not been successful yet.
Their finance-related businesses are healthy, and there has been some debate about whether this segment should be spun out and listed separately.

https://global.rakuten.com/corp/investo ... gment.html

Anyway, I wouldn't worry too much about Rakuten's future. If you don't like them, choose Monex or SBI instead.

主要株主
楽天証券ホールディングス株式会社（51.0％）
みずほ証券株式会社（49.0％）

Nothing to worry about here. The big stake by Mizuho is recent, postponing an IPO.

,..........

MooMoo is the ideal app for gambling on your taxable account. Nothing longterm.

[fvrther]

Very well then, as much as I hate Rakuten their UI is a bit better than SBI one, I'll probably go for them. Thank you!