Moomoo provides millennials and Gen Zs easy access to US stocks trading
Futu SG aims to help young investors expand their portfolio with its one-stop investment platform.
Futu SG strives to create products that will facilitate the trading journey of investors, says Mr Gavin Chia, managing director of Futu SG. Photos: Futu SG
Brought to you by
The rise of financial literacy in millennials and Gen Zs has brought with it a new wave of young investors who are seeking a more approachable way to investing that meets their needs.
This has also led to shifts in the financial services space, with digital platforms booming and providers looking to better serve this segment.
One such platform is moomoo, which is powered by Futu Singapore (Futu SG). The investment super app aims to level the equity trading field by offering users greater accessibility and convenience. At the same time, it wants to make investing smarter with its arsenal of tech-powered tools and resources.
WHAT YOUNG INVESTORS WANT
According to Mr Gavin Chia, managing director of Futu SG, 10 per cent of Singapore’s population over the age of 20 are moomoo users, with more than 70 per cent being millennials and Gen Zs.
“Facilitating access to investing goes beyond providing a platform for users. At Futu SG, we champion people-centricity and have been actively interacting with different market segments to understand their pain points to create products that will facilitate their trading journeys,” Mr Chia said.
Despite having been in the market for just over a year, Futu SG has worked with over 30 partners – ranging from financial institutions to unicorn companies and universities – to better understand the investing landscape, specifically vis-a-vis the millennial and Gen Z segments.
Through these explorations, Futu SG discovered that while there is keen demand for US stocks amid retail investors here, cross-border investment does not come without hurdles. In addition, as young investors tend to have lower capital, commissions could potentially wipe out any profits that they stand to gain.
“The data gleaned by our business insights team reflects an emerging trend among Singaporean investors over the past year. There has been an increase in trading led by millennials and women, with higher amounts invested and a rising demand to trade in US stocks,” shared Mr Chia.
In April, Futu SG became the first digital brokerage to offer access to global markets with S$0 platform fee1, S$0 market data fee and lifetime S$0 commission2 on US stocks via moomoo.
Said Mr Chia: “US stocks have always been a trendy topic of discussion and continue to be some of the most traded on digital platforms. They also offer investors the opportunity to ride market volatility through diversification.”
To meet the needs of global investors, moomoo supports the trading of US stocks for up to 16 hours of trading time on trading days – 6.5 hours of regular trading hours and 9.5 hours of pre-market and after-market trading hours. This is three hours longer than most other investment platforms in the industry.
A ONE-STOP HUB AND COMMUNITY
To encourage more to participate in the global investing landscape, moomoo has streamlined the investing process for all users. Opening an account takes a few minutes, giving investors access to stock markets in the US, Singapore, Hong Kong (SAR) and more.
The platform also provides a wide range of educational materials, timely research on individual shares, and an in-app community to foster learning opportunities – all at no additional cost to the user. This allows moomoo to act as an integrated one-stop hub for real-time quotes, financial statistics, market news and stock quotes for the US market.
The focus on user-centric features and community building seems to be working well for moomoo. In the last year, its clients’ equity asset value reached US$52.3 billion (S$71.9 billion) – up 43 per cent year-over-year in Q4 2021.
As Futu SG continues to innovate, keeping evolving retail investor needs at heart, budding investors can look forward to even smoother experiences in the future.
Keen to explore a new age of investing experiences? Gain instant access to international stock markets and funds on Futu SG’s here.
1Platform fee is waived for the first year.
2Applicable to eligible clients of Futu SG only. Terms and conditions apply. For more information, visit https://j.futusg.com/00hzrn.
This advertisement has not been reviewed by the Monetary Authority of Singapore. In Singapore, capital market products and services in moomoo are offered by Futu SG.
