19th May 2023 - 2 min read
Hong Kong-based Futu Holdings has officially launched its investment platform, moomoo, in Malaysia, with the aim of enabling better access to investment opportunities and promoting financial inclusion. This comes following the company’s recent success in obtaining an approval-in-principle (AIP) from the Securities Commission Malaysia (SC) to operate in the country via its wholly-owned Malaysian subsidiary.
In a statement, Futu highlighted that its platform is equipped with “highly intuitive tools, features, and functions”. Chief of all, moomoo clients will be able to invest in a variety of assets, including stocks and exchange-traded funds (ETFs). They will also be able to trade shares of companies in different regions – including the United States, Hong Kong, Singapore, and China – under one account.
In addition to these capabilities, retail investors using moomoo are encouraged to adopt a “self-directed learning approach to securities and derivatives trading”. Essentially, this means you’ll be given access to exclusive market data, financial news, as well as investor education materials via the platform.
During the launch, Futu noted that Malaysia is the second Southeast Asian (SEA) market in which moomoo is launched – its first was Singapore, back in 2021 – and that the country is set to be a catalyst for growth for the platform. This is attributed to Malaysia’s business-friendly environment, educated talent pool, and high digital literacy levels.
Senior partner and senior vice president of Futu Holdings Limited, Robin Xu also highlighted that the company is committed to empowering all of its clients on their investment journey. “Our world-class research and development capabilities and long-standing business success in serving over 20 million users worldwide allow us to provide better tech-driven solutions to the market, enabling everyone to be equipped with the necessary access, tools, and knowledge to make informed decisions along the investment journey,” he said.
Xu also said that Futu’s success in obtaining the AIP from the SC is a considerable achievement for the company as it marks a “giant leap in its Southeast Asia business expansion plans”. Futu began its venture into securities trading in 2011, and has grown since then. Now, aside from Singapore and Malaysia, its moomoo platform is also available in the US and Australia. It also has another proprietary digital platform called Futubull.
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