Futu’s unique investment platform, moomoo, has over 220,000 users and 100,000 paying customers in less than 3 months since launch in Singapore
PALO ALTO, California, June 1, 2021 / PRNewswire / – Moomoo Inc. has announced that its affiliate, Futu Singapore Pte. Ltd., has gained over 100,000 paying customers and its user base has grown to over 220,000 in Singapore since the official launch on March 8, 2021, making it one of the fastest growing digital investment platforms Singapore.
Since entering the Singapore market, moomoo has proven to be a favorite among investors community, with a user base of 220,000, of which 100,000 are paying customers. The robust growth over the past few months has been complemented by positive user feedback on the interface and product offerings. This one-stop-shop trading platform provides users with an easy-to-use and transparent platform to manage their portfolio across multiple markets, access to up-to-date resources and real-time market data, and interactivity through the forum integrated into the application, moo community.
Of the 100,000 paying clients, more than 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 the investing behavior and motivations of Gen Z and Gen Y clients, knowing that this is a target audience segment to watch out for. The results showed that young investors have a strong appetite for self-directed stock trading and effectively use online investment platforms to implement financial management plans tailored to their needs.
The survey also noted that the practice of “social sharing” by Gen Z and Millennial customers has now spread to the investment world, with 11.6% of millennials sharing charts of profits on the platform and nearly 9.7% of Generation Z sharing their performance or their ideas. This complemented the characteristics of young investors and their willingness to seek more knowledge and related content. And the moo community offers exactly those features.
About 220,000 people in Singapore joined the mooing community, where users, investors, companies, analysts, media and key opinion leaders are encouraged to connect and exchange views on the market, share their ideas and investment questions through publications and live broadcasts, connect to live broadcasts of corporate events and even participate in online courses dedicated to improving financial literacy. This community of like-minded people acts as a pool of knowledge and support for investment strategies. This in-app social community experience is unlike any other offered on a digital trading platform and has further contributed to Futu’s popularity among local investors.
“We are extremely proud to have reached this milestone Singapore market and we are grateful for all the support and feedback we have received from the investment community here. We have always thought about Singapore market as our growth track in the South East Asia region, and we are honored to know that moomoo has attracted such a following in a short period of time. We will continue to remain committed to developing our business portfolio by Singapore and we look forward to seeing more local talent helping shape Futu’s future, ”says Mr. Leaf Hua Li, Founder of Futu, Chairman, CEO and Chairman of the Technology Committee.
Futu currently has over 14 million users worldwide and has one of the fastest growing investor communities in the region, allowing users to stay on top of the latest trends in investing. investment and seek advice from seasoned and new investors.
Moomoo Inc. is an indirect wholly owned subsidiary of Futu Holdings Ltd, a leading technology company transforming the investing experience by providing a fully digital trading and wealth management platform. Moomoo’s mission is to provide all levels of investors with an intuitive and powerful investment platform using technology. We continue to improve our customer experience and drive industrial innovation by leveraging independent technological research and development (R&D) capabilities across the entire business 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 the following brokerage firms, but not limited to: Futu Inc. regulated by the US 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) holds a financial market services license regulated by the Monetary Authority of Singapore (License n ° CMS101000).
About Futu Holdings Limited
Futu Holdings Limited (NASDAQ: FUTU) is a leading technology company transforming the investing experience by delivering a fully digital brokerage and wealth management platform. Pursue a massive opportunity to facilitate a unique change in the wealth management industry and create a digital gateway to broader financial services. The organization’s main fee-generating services include trade execution and margin financing that allow its clients to trade securities, such as stocks, warrants, options, futures and contracts. exchange-traded funds, or ETFs, in different markets. Futu improves the user and customer experience with market data and news, research, as well as powerful analytical tools, providing them with a rich database to simplify the investment decision-making process. Futu has also integrated social media tools to build a user-centric network and provide connectivity to users, investors, companies, analysts, media and key thought leaders.
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SOURCE Futu Singapore Pte. Ltd.