HAVING successfully secured a licence in Malaysia, global financial technology (fintech) company Futu Holdings Limited will launch its Moomoo trading platform today.
Dennis Jee (pic), chief operating officer of Moomoo Malaysia, said that the company had been granted a Capital Market Services Licence by the Securities Commission, which enables the group to engage in securities and derivatives trading, as well as clearing for securities and derivatives in Malaysia.
Through email replies, Jee added, “With this licence, Malaysian investors now have access to Moomoo’s super app, which offers more than 1,000 Malaysia stocks and over 9,000 US stocks and exchange-traded funds (ETFs) and more to trade.
“This is coupled with artificial intelligence (AI)-powered analytical tools, research, advanced charting capabilities, real-time data and breaking news from over 150 leading media agencies all within the platform.”
He added that Moomoo Malaysia is offering zero-commission trading on Malaysia and US stocks and ETFs for a period of 180 days from the successful opening of a Moomoo Malaysia brokerage account.
Founded in Palo Alto, California, Moomoo operates globally, serving investors in the United States, Singapore, Australia, Japan, Canada and now Malaysia.
“Moomoo’s official launch in Malaysia follows its global expansion, beginning with its entry into the Singaporean market.
“Today, it is the number one downloaded trading app in Singapore, with one in every four adults in Singapore choosing Moomoo as their preferred investment platform. A total of 25% of Singapore adults between the ages of 20 and 70 are now Moomoo users,” added Jee.
“Moomoo has since launched in Australia, Canada and Japan. Moomoo aims to replicate this growth and become the premier investing platform in Malaysia,” he added.
While online trading platforms are becoming increasingly competitive, Jee said that Moomoo’s unique offerings will set it apart.
“Moomoo empowers investors to become informed and confident decision-makers.
From managing investments in Malaysia and the United States, to researching stocks, connecting with fellow investors, and mastering new strategies, Moomoo offers a comprehensive suite of functionalities within a single, intuitive app,” he said.
Another feature that Jee said will attract users to the Moomoo platform are its AI-related features.
He pointed out that the group has invested some US$156mil in research and development during the last financial year and that “60% of its workforce is dedicated to pushing boundaries in shaping the future of finance”.
“Through the integration of AI-powered features such as our stock screener, market monitor, institutional tracking, real time data and breaking news feeds, Moomoo delivers actionable insights directly to our users,” said Jee.
He added that their platform also offers education tools.
“Our platform hosts over 600 educational materials, ranging from beginner-friendly tutorials on fundamental investing concepts to analyses of market trends and investment strategies.”
