- Among the first global digital brokerage firms to be granted the Capital Market Services License; committed to promoting financial inclusion and catalyse growth within the local capital market
- Cutting-edge technology, seamless trading and free access to comprehensive Pro-level resources set to transform investing experience for Malaysians
Kuala Lumpur, Malaysia – Tuesday, 27 February 2024 – Moomoo, the cutting-edge all-in-one investment super app officially launched in Malaysia today. With the mission of promoting local financial innovation and empowering users, the company will provide Malaysian investors with a professional, reliable and innovative digitalised investment experience.
Committed to Technological Innovation and Financial Inclusion: Driving Malaysia’s Financial Digitization
Futu Malaysia Sdn. Bhd. (“Moomoo MY”) is among the first global digital brokerage firms granted the Capital Market Services License by the Securities Commission Malaysia (“SC”). This license allows Moomoo MY to offer securities and derivatives trading and clearing services for both. The company held a grand opening ceremony in Kuala Lumpur today. The event was attended by Datuk Muhamad Umar Swift, CEO of Bursa Malaysia; Robin Xu, Senior Partner, Senior Vice President 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.
“Moomoo’s entry into Malaysia underscores our dedication to empowering various financial markets through technology. Guided by our mission of ‘Making investing easier, not alone,’ we strive to promote information equality, accessibility, and value creation within Malaysia’s dynamic economy. Through technology, we aim to promote information equality, making investment and wealth management more accessible, and creating value for local investors and capital markets. Malaysia’s dynamic economy, coupled with recent policy support, has seen rapid development in its capital markets. With Moomoo’s participation, we hope to inject even more dynamism into the market. 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.” said Robin Xu, Senior Partner and Senior Vice President of Southeast Asia and Oceania at Futu Holdings Limited.
“Malaysia with a relatively young population has seen a growing interest in self-directed investing. The country’s commitment to technological development and innovation led us to choose it as the second destination for expanding our presence in the Southeast Asia after Singapore. With Malaysia’s flourishing fintech landscape and supportive regulatory framework, there exists a clear demand for innovative investment solutions. We are confident that we can replicate the success we have seen in Singapore here and work hand in hand with investors and market participants to further enhance Malaysia’s capital markets and financial infrastructure competitiveness on both the regional and international stage.” Xu added.
Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia Berhad, welcomed Moomoo MY’s entry into Malaysia, and as a Participating Organisation of the Exchange. “In today’s technology-driven market, it is important that the industry leverages data and digital tools to make investing more accessible and efficient. Investors want choice, and we encourage all Participating Organisations to harness the power of new technologies to enhance investing experiences for investors, and to promote greater financial inclusivity in Malaysia. We commend Moomoo MY for the launch of its innovative investment app in conjunction with its entry into Malaysia.”
Breaking Down Barriers: Democratising Investment Opportunities
In addition to empowering local financial infrastructure, Moomoo Malaysia is also committed to making it easy for every investor to start their investment journey and secure their financial future. Through a suite of cutting-edge, pro-level analytical tools including Heatmap, Stock Screener, Institutional Tracking, and Market Monitor, Moomoo transforms the investment landscape through technological innovation.
Malaysian investors now have access to moomoo, which offers an extensive range of features including access to over 1,000 Malaysian and 9,000 US stocks, ETFs, AI-powered analytical tools, research resources, advanced charting capabilities, real-time data, and breaking news sourced from over 150 top media agencies – all directly within the moomoo platform. 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. The platform will also offer zero-commission trading[i] on stocks and ETFs for both Malaysia and US markets for a limited time period.
Ivan Mok, CEO of Moomoo Malaysia emphasized, “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.”
Empowering Financial Inclusion and Literacy
Beyond delivering a better and seamless trading experience for its users, Moomoo MY is dedicated to advancing financial literacy by offering an extensive array of over 600 complimentary investment courses through Moo Learn. This commitment ensures that both novice and experienced investors have access to valuable educational materials to enhance their expertise and remain ahead of industry trends.
Another distinctive feature is moomoo’s vibrant online community, which connects over 1000 experts and key opinion leaders within a global investing community of over 21 million members. The Moo Community acts as a hub for collaborative learning, enabling participants to exchange investment ideas, insights, and experiences, fostering mutual support for growth and development.
“Moomoo seamlessly combines accessibility and a comprehensive suite of tools and educational resources, to provide an investment experience that breaks through traditional boundaries. Our platform is tailored to transform the way people invest, and empower Malaysian investors with the tools and resources they need to not only participate, but succeed in the financial markets.” Said Dennis Jee, COO of Moomoo Malaysia.
Exclusive Promotions for Malaysian Investors
To mark its official launch, Moomoo MY is rolling out exclusive promotions and perks for Malaysian investors. Between now and March 31, 2024, new users[ii] who successfully open a Moomoo MY universal account and deposits a total of RM8000 will be eligible for a free Apple share[iii]. Those who successfully open a Moomoo MY universal account with a cumulative deposit of RM500 will receive RM100 cash rewards[iv].
On top of that, traders who execute at least one transaction using their Moomoo MY universal account during the promotion period, will receive one month of free access to Level 2 MY market data. Users can accumulate up to 6 months of complimentary Level 2 MY market data during this time[v].
Malaysian investors can download the app from the Apple App Store or Google Play Store to start their investment journey with Moomoo. For more information on Moomoo Malaysia and its services, please visit www.moomoo.com/my.
About Moomoo
Moomoo is a leading global investment and trading platform dedicated to empowering investors with user-friendly tools, data, and insights. Our platform is designed to provide essential information and technology, enabling users to make well-informed investment decisions. With advanced charting tools, pro-level analytical features, Moomoo evolves alongside our users, fostering a dynamic community where investors can share, learn, and grow together.
Founded in Palo Alto (part of the Silicon Valley), California, Moomoo operates globally, serving investors in countries such as The US, Singapore, Australia, Japan, Canada and Malaysia. As a subsidiary of a Nasdaq-listed company, we take pride in our role as a global strategic partner of the New York Stock Exchange (NYSE), earning numerous international accolades from renowned industry leaders such as Best Trading Technology 2021, Best Investment Research Tech 2022, and Best Active Trading App 2021 awards from Benzinga and the Best Trading Platform 2022 award from Fintech Breakthrough. Moomoo has also received multiple awards in the US, Singapore, and Australia for its cutting edge, inclusive approach to investing.
Moomoo’s official launch in Malaysia follows its global expansion, beginning with its entry into the Singaporean market. Today, it is the Best “Retail Broker” by the Securities Investors Association (Singapore)(“SIAS”)[1] and #1 downloaded trading app[2], with 1 in every 4 adults in Singapore[3] choosing Moomoo as their preferred investment platform. Moomoo has since launched in Australia, Canada, and Japan before officially launching in Malaysia. With a proven track record of success in existing markets, Moomoo aims to replicate this growth and become the premier investing platform in Malaysia.
[1] https://sias.org.sg/corporate-governance-week/awards
[2] Data is determined based on cumulative downloads from launch date of brokerage apps in Singapore for comparison until 11 October 2023 on data.ai.
[3] As of 31/12/22, 1 in 4 adults between aged 20-70 in SG is a moomoo user.
[i] Users who open a moomoo MY brokerage account between now till 31 March 2024 will enjoy zero commission trading for 180 days only from the date of successful account opening. Full T&C and other fees apply.
[ii] Campaign Eligibility: New users who have successfully opened a Moomoo MY universal account and haven’t made any deposit into the account before 2024.02.27. The customer shall not participate in any other new user promotion, including the ‘Team up with A Friend to Get 1×Apple Stock’ activity.
[iii] To be eligible for the free Apple share, you must successfully open a Moomoo MY universal account and deposit a cumulative amount of at least RM8,000 into the account before 11:59PM MYT on 31/03/2024. Once the deposit of RM8,000 has been completed, you must also successfully claim the free Apple share from the activity landing page. The Apple share will be issued upon successful deposit, and will be activated if you maintain the assets (cash, stocks and other assets included) of RM8,000 (or equivalent currencies) for 30 days. Due to stock price fluctuations, the total asset value is allowed to drop by 10% from the stated amount. This campaign has nothing to do with any company and its affiliates that are rewarded with shares. Apple stock will be credited to your Moomoo MY universal account within 3 calendar days. The free apple share is valid within 90 days from the date of issuance, if not claimed, the free apple share will expire.
[iv] Those who successfully open a Moomoo MY Universal account and deposit a cumulative of at least RM500 by 11.59pm on 31/03/24 will receive RM100 cash rewards of RM50*1 cash coupon and RM10*5 stock cash coupons. The RM10*5 stock cash coupons will be issued and activated upon successful deposit. The RM50*1 cash coupon will be issued upon successful deposit, and will be activated if you maintain the assets (cash, stocks and other assets included) of RM500 (or equivalent currencies) for 30 days. The stock coupons and cash coupon are valid within 90 days from the date of issuance.
[v] Trade any US and/or MY stocks with Moomoo MY universal account at least once before 11:59PM MYT on 31/3/2024. You will receive 1 coupon for every trade, with the maximum of 6 coupon. 6 coupons unlock 6 months free Level 2 MY market data.
