PALO ALTO, Calif., June 1, 2021 /PRNewswire/ -- Moomoo Inc. announced that its affiliated company,
Futu Singapore Pte. Ltd., has gained over 100,000 paying clients
with its user base soaring to over 220,000 in Singapore since the official launch on
8 March 2021, making it one of the
fastest growing digital investment platforms in Singapore.
Since entering the Singapore
market, moomoo has proven to be a hot-favorite among the investing
community, with its user base
amassing to 220,000, of which 100,000 are paying clients. The
robust growth over the few months has been complemented with
positive user feedback on the interface and product
offerings. This one-stop trading platform provides
users with an easy-to-use and seamless platform to manage their
portfolio across multiple markets, access to up-to-date resources
and real-time market data, and interactivity via the in-app forum,
moo community.
Among the 100,000 paying customers, over 40% of our paying
clients showed a keen interest in trading in the US market.
Futu Singapore conducted a survey earlier this year to better
understand investing behavior and motivations among Gen Z and
Millennials clients, understanding that this is a target audience
segment to watch. Results showed that younger investors have a
strong appetite for self-directed stock trading and make effective
use of online investment platforms to implement financial
management plans suited to their needs.
The survey also noted that the Gen Z and Millennials clients'
practice of 'social sharing' has now extended to the investment
world, with 11.6% of Millennials sharing profit graphs on the
platform, and nearly 9.7% of Gen Z-ers
sharing their performance or insights. This complemented the
characteristics of younger investors and their drive to seek more
knowledge and related content. And moo community offers exactly
those features.
Around 220,000 people in Singapore have joined the moo community, where users, investors,
companies, analysts, media and key opinion leaders are encouraged
to connect and exchange market views, share their investment
insights and questions through posts and live-streams, tune in to
live broadcasts of corporate events and even participate in online
courses dedicated to boosting financial literacy. This community of
like-minded individuals act as a pool of knowledge and support for
investment strategies. This engaging in-app social community
experience is unlike any other provided in a digital trading
platform, and has further contributed to Futu's popularity among
local investors.
"We feel immensely proud to reach this milestone in the
Singapore market and are thankful
for all the support and feedback we have received from the
investing community here. We've always set our minds for the
Singapore market to be our runway
of growth across the South East Asian region, and we're humbled to
know that moomoo has attracted such a large customer base in a
short period of time. We will continue to stay committed to scaling
up our business portfolio in Singapore and are looking forward to having
more local talent help pave the future for Futu," says Mr. Leaf
Hua Li, Futu's Founder, Chairman, CEO & Chairman of the
Technology Committee.
Futu currently has over 14 million users worldwide and possesses
one of the fastest growing investor communities in the region which
enables users to stay up-to-date with latest investment trends and
to seek guidance from seasoned and new investors.
About moomoo
Moomoo Inc. is an indirect wholly-owned subsidiary of Futu
Holdings Ltd, which is an advanced technology company transforming
the investing experience by offering a fully digitized trading and
wealth management platform. Moomoo's mission is to provide all
levels of investors with an intuitive and powerful investing
platform by using technology. We keep improving customer's
experience and driving industrial innovation backed by independent
technological research and development (R&D) capabilities on
the whole trading process and our creative internet operating
model. Moomoo is a trading platform offered by Moomoo Inc.
Investment products and services on moomoo are offered by but not
limited to the following brokerage firms: Futu Inc. regulated by
the U.S. Securities and Exchange Commission (SEC) and Futu
Singapore Pte. Ltd. regulated by the Monetary Authority of
Singapore (MAS).
About Futu Singapore Pte. Ltd
Futu Singapore Pte. Ltd. is a wholly-owned subsidiary of Futu
Holdings Limited. Futu Singapore Pte. Ltd. (www.futusg.com) is
a capital markets services license holder regulated by the Monetary
Authority of Singapore (License
No. CMS101000).
About Futu Holdings Limited
Futu Holdings Limited (NASDAQ: FUTU) is an advanced technology
company transforming the investing experience by offering a fully
digitized brokerage and wealth management platform. Pursuing a
massive opportunity to facilitate a once-in-a-generation shift in
the wealth management industry and build a digital gateway into
broader financial services. The organization's primary
fee-generating services include trade execution and margin
financing which allow its clients to trade securities, such as
stocks, warrants, options, futures and exchange-traded funds, or
ETFs, across different markets. Futu enhances the user and client
experience with market data and news, research, as well as powerful
analytical tools, providing them with a data rich foundation to
simplify the investing decision-making process. Futu has also
embedded social media tools to create a network centered around its
users and provide connectivity to users, investors, companies,
analysts, media and key opinion leaders.
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SOURCE Futu Singapore Pte. Ltd.