Hong Kong-based Futu Holdings has officially launched its investment app Moomoo in Malaysia. This is the second market that Futu has expanded to in Southeast Asia following its Singapore launch in June 2021.
Moomoo has been granted a Capital Market Services License by the Securities Commission Malaysia, enabling it to offer comprehensive trading services.
The decision to establish Moomoo’s presence in Malaysia was influenced by the country’s relatively young population and a growing interest in self-directed investing, according to Futu.
Futu added that it is confident that Moomoo would be able to replicate the success it has seen in Singapore while working hand in hand with investors and market participants to further enhance Malaysia’s capital markets.
The app provides users with access to a wide array of investment options, including over 1,000 Malaysian and 9,000 US stocks and ETFs, along with AI-driven analysis, real-time data, and news sourced from over 150 top media agencies.
Moomoo MY universal account holders will have complimentary access to Level 1 MY stock 3 market depth and Level 2 US stock 60 market depth quotes.
To encourage trading, Moomoo is offering zero-commission trading on stocks and ETFs for both Malaysia and US markets for a limited time period alongside other cash rewards for new users.
Beyond trading, Moomoo said that it is committed to advancing financial literacy through its Moo Learn platform, offering over 600 investment courses.
The platform also fosters a vibrant online community which connects over 1000 experts within a global investing community of over 21 million members for collaborative learning and support.
The Moomoo app is available for download at the Apple App Store and Google Play Store.
Robin Xu, Senior Partner and Senior Vice President of Southeast Asia and Oceania at Futu Holdings said,
“Moomoo’s entry into Malaysia underscores our dedication to empowering various financial markets through technology. Through technology, we aim to promote information equality, making investment and wealth management more accessible, and creating value for local investors and capital markets.
As an investment platform connecting 21 million retail investors globally, we envision collaborating with exchanges, regulatory bodies, and partners in the visible future to become the gateway, connecting Malaysia’s investment products to global capital and investors.”
Ivan Mok, CEO of Moomoo Malaysia said,
“Our users benefit from unrestricted access to pro-grade tools and resources, typically associated with premium services.
This reinforces our commitment to levelling the playing field, making self-directed investing simple, easy, and accessible to everyone, regardless of their experience level.”
The launch event in Kuala Lumpur saw participation from notable industry figures including Datuk Muhamad Umar Swift, CEO of Bursa Malaysia; Robin Xu, Senior Partner, SVP and Head of Southeast Asia and Oceania of Futu Holdings Limited; Ivan Mok, CEO of Moomoo Malaysia; and Dennis Jee, COO of Moomoo Malaysia, among other senior executives.
