Moomoo launches social trading platform in Australia
Moomo won the “Best Active Trading App 2021” by Investing Simple and was nominated for the Benzinga 2021 awards for “Best Trading Technology” and “Best Investment Research Tech”.
Moomoo has announced it will be launching its one-stop digital investment platform in Australia, offering access to premium online investment services for Australian investors.
It is the third expansion overseas after a successful launch in US and Singapore, the company announced, adding that its affiliated company secured an Australian Financial Services License granted by the Australian Securities and Investments Commission (ASIC) through an acquisition.
Social trading with a focus on technology and research
Moomo is a community-driven trading platform that aims to make investing easier and more social. The offering’s key features include:
– a free online account-opening experience that can be completed in just minutes;
– a combination of powerful technologies spanning stock trading and market data;
– an interactive online community of 17 million investors worldwide;
– tools that enable the community to share their investing insights anytime, anywhere.
Moomoo provides access to free real-time quotes, in-depth market analysis, and comprehensive financial news coverage. A model which has proved successful in the United States and Singapore.
Its user-friendly tools help investors make informed decisions albeit in a simplified way. Moomo won the “Best Active Trading App 2021” by Investing Simple and was nominated for the Benzinga 2021 awards for “Best Trading Technology” and “Best Investment Research Tech”.
Moomoo launches in Australia after success in Singapore and the US
The broker’s success can be quantified as the recent metrics don’t lie: more than 220,000 registered users and more than 100,000 paying clients in less than three months since entering the Singapore market. Within just six months of its launch, Moomoo’s market share of retail investors in Singapore neared 15%.
The firm continues its fast growing pace in Singapore, constantly holding a place among the top three financial apps as measured by download volume. In Australia, Moomoo plans to open up a brand-new market and bring a unique investment experience to local investors.
The moomoo App is a trading platform offered by moomoo Inc. Securities services available on the moomoo App are offered by but not limited to the following brokerage firms: Futu Inc. regulated by the U.S. Securities and Exchange Commission (SEC), Futu Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS), and Futu Securities International (Hong Kong) Ltd. regulated by the Securities and Futures Commission of Hong Kong (SFC).