Trading app Moomoo Malaysia revealed that it has onboarded over 120,000 users and more than 10,000 clients within three days following its launch in the market last week. This milestone marks a significant step forward in Moomoo’s global expansion efforts, with its existing user base of over 21 million users worldwide.

In a statement, the chief executive officer of Moomoo Malaysia, Ivan Mok said that Malaysia has been actively making efforts to improve its brokerage sector’s technological capabilities, in an attempt to increase its competitiveness in the global financial markets. Accordingly, Moomoo Malaysia is able to contribute to this objective. 

“Drawing on our technological expertise and extensive global experience, akin to our achievements in Singapore and Hong Kong, where we established pioneering benchmarks in fintech technology, our objective is to replicate this success in Malaysia. Our aim is to set a precedent for the industry, serving as a blueprint for others to emulate,” said Mok.

Mok also highlighted the fact that Malaysia’s local investors currently make up less than 10% of the participants in the local investment landscape, which is significantly lower than the 30% to 40% found in developed markets. As such, there is a meaningful opportunity to enhance investment awareness and financial education among Malaysians, which is crucial for economic growth.

“As the thirtieth brokerage entering the market, we’re poised to make an impact by leveraging our technology and global expertise to drive financial literacy and investment engagement. By offering free real-time market data and prioritising financial literacy through our platform, we aim to increase engagement and market participation levels among Malaysian investors,” Mok further stated.

Moomoo – which is licensed by the Securities Commission Malaysia – went live in Malaysia on Tuesday last week, offering a comprehensive suite of features that will enable local investors of any levels to trade Malaysian and US stocks conveniently from just one platform. Some key features include real-time market data (free Level 2 US and Level 1 MY market depth quotes), advanced charting tools, and AI-powered analytical features. It is also currently charging 0% commission for trades made on the platform.

“By placing these tools directly in the hands of investors, Moomoo Malaysia aims to transform the investment experience through technological innovation, ensuring that investors of all backgrounds have equal access to investment opportunities and resources,” Moomoo noted in the statement, further adding that investing must evolve to become engaging and user-friendly for the current crowd, complete with the capability to invest anytime and anywhere.

To mark its official launch, Moomoo Malaysia is currently offering exclusive new user perks to customers who successfully sign up for a Moomoo Malaysia universal account between today until 31 March 2024. These include a free Apple share if you deposit a total of RM8,000 to your account, and RM100 cash rewards with a cumulative deposit of RM500.

You can find out more about Moomoo Malaysia and its exclusive promotions here, as well as download the app to start your trading journey.

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