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Futu launches new investment platform moomoo, unviels Singapore HQ

By Leandra Monteiro

March 10, 2021

  • Futu
  • Singapore

Futu Holdings, Futu, moomoo, investment platform, Singapore, Hong Kong, Tencent

The official launch of moomoo, a one-stop investment platform was announced by Futu Holdings Limited in Singapore. Keeping in sync with the company’s second anniversary of its NASDAQ listing, Futu also revealed the inaugural of its new regional headquarters in Singapore to better focus on the Southeast Asia region.

Singapore is Futu’s first market entry outside of China, Hong Kong Special Administrative Region and the United States. This latest opening in Singapore represents the company’s plans to capitalise on the rapid adoption of digital services and a young population that has grown in a technologically immersive environment.

Strategically backed by Tencent, moomoo seeks to be the technology-driven and international version of Futu’s investing platform. With a focus 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.

Mr. Leaf Hua Li, Founder & CEO of 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,” he added.

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. It is also regulated and licensed by the Monetary Authority of Singapore (MAS).

According to the company has it has dedicated over 70% of their employees into research and development to ensure constant creation of new solutions on how to improve and innovate its current platform.

Moomoo will enable users to have access to Level 2 market data for the US market which displays real-time bids and stock quotes, and 24/7 aggregated updates. In addition, the app also 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.

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