New Office

Futu Launches Singapore-Based Investment Platform

Editorial Staff 10 March 2021

Futu Launches Singapore-Based Investment Platform

China's one-stop broker platform is launching in Singapore to gain better access to Southeast Asian young, digitally savvy investors.

Tencent-backed Futu Holdings has launched a new one-stop investment platform and set up a new regional headquarters in Singapore to pave entry into the young digitally-savvy Southeast Asia market.

Its “moomoo” investment platform will target experienced as well as younger investors across the region wanting to invest in Hong Kong SAR, Singapore and US securities, the Chinese technology provider said.

Often dubbed the Robinhood of China, Futu's subsidiaries provide trading and clearing services, margin financing, wealth management, and market analysis to retail investors through two proprietary platforms, Futubull and moomoo. Both enable investors to trade on multiple exchanges around the world at low fees.

"With over a million retail investors [in Singapore], we believe that there is huge potential in the local market, which will serve as a strong growth driver for us as our products are quite different from other products in the Singapore market. Currently, we have already set up our local headquarters and are looking to scale up our business moving forward," Futu founder and CEO Leaf Hua Li said.

The platform is available in China, Hong Kong and the US and has around 13 million users.

China's regulators recently announced that they are examining ways of opening up Chinese investing into securities and insurance in other countries. Futu and other Chinese brokers such as 9F and UP Fintech Holding are likely to benefit as the country's mass affluent continues growing.

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