Futu launches moomoo, an Intuitive and Technologically Immersive, One-Stop Investment Platform in Singapore
Futu Holdings Limited has announced the official launch of its one-stop investment platform, moomoo, in Singapore.
In tandem with the Company's second anniversary of its NASDAQ listing, Futu also unveiled the opening of its new regional headquarters in Singapore to better serve the Southeast Asia region, the firm said in a press release.
As Futu's first market entry outside of China, Hong Kong and the United States, Singapore represents the Company's ambitious plans to capitalise on the rapid adoption of digital services and a young population that has grown in a technologically immersive environment, says Futu.
moomoo, which is strategically backed by Tencent, seeks to be the technology-driven and international version of Futu's renowned investing platform, focusing on empowering both seasoned and the younger generation of investors to take greater ownership of their financial future by providing market accessibility and data options, thereby reducing friction to access global investable products.
Leaf Hua Li, Founder and CEO, Futu, said: “In a world still in massive lockdowns, expansion into Singapore is a strategic decision to serve as a bridge into the rest of Southeast Asia. Singapore's digital friendly environment, high quality infrastructure, and efforts in adopting technologies has also made it an ideal location for us to expedite our foray into international markets. With over a million retail investors there, we believe that there is huge potential in the local market which will serve as a strong growth driver for us as our products are quite different from other products in the Singapore market. Currently, we have already set up our local headquarters and are looking to scale up our business moving forward.”
Futu Singapore stands out by offering the lowest fees and trading minimums in Singapore via moomoo for investing in Hong Kong SAR, Singapore and US securities. Compared to its peers, it enjoys a reputation of reliability, security and stability, and is also regulated and licensed by the Monetary Authority of Singapore (MAS), the firm reported.
Futu currently possesses one of the largest trading communities in the world, amassing over 13 million users globally, with daily active users surpassing one million. moomoo has also embedded social media tools to create a network centered on its users and provide connectivity to users, investors, companies, analysts, media and key opinion leaders. The moo community aggregates different levels of investors where people could exchange and stress-test investment ideas.
The company has stayed in line with their mission of making investing easier and not alone for users, and has dedicated over 70% of their employees into research and development, constantly coming up with new solutions on how to improve and innovate its current platform.
Through its wide array of product offerings of powerful, in-depth and customised analytics tools, moomoo is set to create an unparalleled experience for users, with complimentary access to Level 2 market data for the US market which displays real-time bids and stock quotes, and 24/7 aggregated updates. The App also includes AI-driven data screeners and easy-to-analyse trading charts, combined with the convenience of trading across multiple markets with its multi-currency facility.