Moomoo Inc. has announced that its affiliated company, Futu Singapore Pte. Ltd., has gained over 100,000 paying clients with its user base soaring to over 220,000 in Singapore since the official launch on 8 March 2021, making it one of the fastest growing digital investment platforms in Singapore.
Since entering the Singapore market, moomoo has proven to be a hot-favorite among the investing community, with its user base amassing to 220,000, of which 100,000 are paying clients. The robust growth over the few months has been complemented with positive user feedback on the interface and product offerings. This one-stop trading platform provides users with an easy-to-use and seamless platform to manage their portfolio across multiple markets, access to up-to-date resources and real-time market data, and interactivity via the in-app forum, moo community, Futu said in a press release.
Among the 100,000 paying customers, over 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 investing behavior and motivations among Gen Z and Millennials clients, understanding that this is a target audience segment to watch. Results showed that younger investors have a strong appetite for self-directed stock trading and make effective use of online investment platforms to implement financial management plans suited to their needs.
The survey also noted that the Gen Z and Millennials clients' practice of 'social sharing' has now extended to the investment world, with 11.6% of Millennials sharing profit graphs on the platform, and nearly 9.7% of Gen Z-ers sharing their performance or insights. This complemented the characteristics of younger investors and their drive to seek more knowledge and related content. And moo community offers exactly those features.
Around 220,000 people in Singapore have joined the moo community, where users, investors, companies, analysts, media and key opinion leaders are encouraged to connect and exchange market views, share their investment insights and questions through posts and live-streams, tune in to live broadcasts of corporate events and even participate in online courses dedicated to boosting financial literacy. This community of like-minded individuals act as a pool of knowledge and support for investment strategies. This engaging in-app social community experience is unlike any other provided in a digital trading platform, and has further contributed to Futu's popularity among local investors.
“We feel immensely proud to reach this milestone in the Singapore market and are thankful for all the support and feedback we have received from the investing community here. We've always set our minds for the Singapore market to be our runway of growth across the South East Asian region, and we're humbled to know that moomoo has attracted such a large customer base in a short period of time. We will continue to stay committed to scaling up our business portfolio in Singapore and are looking forward to having more local talent help pave the future for Futu,” says Mr. Leaf Hua Li, Futu's Founder, Chairman, CEO & Chairman of the Technology Committee.
Futu currently has over 14 million users worldwide and possesses one of the fastest growing investor communities in the region which enables users to stay up-to-date with latest investment trends and to seek guidance from seasoned and new investors.
I'm an enthusiast and expert in the field of digital investment platforms, particularly focused on moomoo Inc. and its affiliated company, Futu Singapore Pte. Ltd. My expertise stems from an in-depth understanding of the industry, its trends, and the specific details mentioned in the provided article.
The information presented in the article highlights the remarkable growth of Futu Singapore's digital investment platform, moomoo, since its official launch on March 8, 2021. As of now, it has gained over 220,000 users in Singapore, with an impressive 100,000 of them being paying clients. The platform has become one of the fastest-growing digital investment platforms in Singapore.
Key features contributing to moomoo's success include an easy-to-use and seamless interface for portfolio management across multiple markets, access to up-to-date resources and real-time market data, and an in-app forum called "moo community" that promotes interactivity among users. This community has become a vital space for users, investors, companies, analysts, media, and key opinion leaders to connect, exchange market views, share investment insights, and participate in live broadcasts of corporate events.
The survey conducted by Futu Singapore earlier this year reveals interesting insights into the behavior and motivations of Gen Z and Millennials clients. Younger investors, constituting a significant portion of moomoo's user base, exhibit a strong appetite for self-directed stock trading. Additionally, the practice of "social sharing" has extended to the investment world, with a notable percentage of users sharing profit graphs and performance insights on the platform.
The moo community, with around 220,000 members, serves as a unique in-app social community experience, unlike any other in digital trading platforms. It acts as a pool of knowledge and support for investment strategies, emphasizing the collaborative and engaging nature of moomoo's platform.
Futu's Founder, Chairman, CEO & Chairman of the Technology Committee, Mr. Leaf Hua Li, expresses pride in reaching this milestone in the Singapore market. With Futu's commitment to scaling up its business portfolio in Singapore, the company aims to attract more local talent and continue its growth across the South East Asian region.
In conclusion, moomoo's success in Singapore reflects its innovative platform, user-friendly features, and the creation of a vibrant in-app community, contributing to its popularity among investors. Futu's global presence with over 14 million users worldwide further establishes its position as a leader in the digital investment space.
