Robinhood is a good platform for active trading and provides commission-free trades on all investments. But it's lacking in some areas, such as the number of accounts it offers and the fact it doesn't let you invest in certain popular asset classes such as bonds and mutual funds.

Moomoo Financial is a broker-dealer registered with U.S. Securities and Exchange Commission and member of FINRA and the Securities Investor Protection Corporation (SIPC), which protects customers if their brokerage firm fails.

Robinhood has a good track record of protecting users' Social Security numbers, though, so providing yours is as safe as giving it to most reputable financial apps. Unfortunately, U.S. FinCEN requires you to provide your Social Security number to your stock brokerage for identity-verification purposes.

Robinhood is an online discount brokerage that offers a commission-free investing and trading platform. In 2023, the company generated the majority of its revenue from its net interest revenues segment due to the favorable interest rate environment.