In addition to Moonmoo's parent company Futu Holdings Ltd., a leading online brokerage and wealth management platform with a focus on technology, Futu Holdings Ltd., reported unaudited Q3 2023 earnings of $385 million, an increase of 36.2% year-over-year ("yoy") in revenues, and a 43.7% increase in non-GAAP net income of US$147.9 million.
As of the end of the third quarter of 2023, Moomoo and its sister brands had reached a milestone of 21.09 million global users and 1.65 million paying clients, representing a yoy increase of 10.1% and 14.2%, respectively. A total of approximately 65,000 new paying clients have been acquired during the quarter, a sequential increase of 12.0% in the number of new paying clients acquired during the quarter.
Moomoo, along with its sister brands, reached a milestone of 21.09 million global users and 1.65 million paying clients by the end of Q3 2023, representing an increase of 10.1% yoy and 14.2% yoy, respectively. Also, there was a sequential growth of 12.0% in the number of new paying clients acquired during the quarter, totaling approximately 65,000.
Moomoo and its affiliated brands achieved a client retention rate of above 98.0% on September 30, 2023, with total client assets reaching US$59.8 billion, demonstrating a high level of client confidence as of September 30, 2023. Moreover, the total trading volume has seen a sequential increase of 13.6%, reaching US$139.2 billion as well.
Earlier this year, Standard & Poor's ("S&P") reaffirmed Futu's long-term issuer credit rating "BBB-", which affirmed the company's strong capital structure and effective risk management. As outlined in the report, S&P predicted that Futu's customer base would increase, particularly overseas, in line with its global expansion goals over the next two years, in line with its global expansion plans.
The introduction of new trading features by Moomoo in Canada and Japan marks a new milestone for the company
It is my pleasure to introduce you to Moomoo, a leading global financial service brand of Futu that operates across the US, Singapore, Australia, Japan, Canada, and beyond. In the third quarter, moomoo launched US stock trading services in Japan and Canada, marking a major step in the company's global expansion.
On September 19, Moomoo Japan ("Moomoo JP") opened its door for Japanese investors to engage with roughly 7,000 US stocks and ETFs on its platform, offering one of the most extensive collections of tradable US shares in Japan's market, as well as one of the largest online exchanges in the world.
On September 21, moomoo extended its services to Canadian investors by enabling them to trade US stocks through its user-friendly and cost-effective platform. Following this development, moomoo expanded its services to Canadian investors starting on September 21.. We would like to point out that Moomoo Financial Canada ("Moomoo CA") is a member of the Canadian Investment Regulatory Organization and that the Canadian Investor Protection Fund protects the Canadian investors of Moomoo CA. As one of the few Canadian brokers who support 16-hour trading from as early as 4 in the morning ET to as late as 8 at night ET, Moomoo CA offers both pre-market and after-hours trading sessions on each trading day during the trading day.
As one of the few Canadian brokers who support 16-hour trading from as early as 4 in the morning ET to as late as 8 at night ET, Moomoo CA offers both pre-market and after-hours trading sessions on each trading day during the trading day.
The growth momentum of Moomoo's business in Singapore has bolstered the company's leadership position
In just over two years since it was launched in Singapore, Moomoo Singapore (“Moomoo SG”) has quickly risen to become a leader among digital investment platforms, claiming the top spot in both accumulated download count as well as Daily Active Users (DAUs), according to open data reports [1].
As of the end of the third quarter, Moomoo Singapore reported over 25.0% growth in paying clients yoy. Additionally, Moomoo Singapore has been recognized by The Straits Times as Singapore's Best Customer Service Provider for 2023/24, as a major digital brokerage.
MooFest, Moomoo SG's most popular offline event, was held in July with the support of the Singapore Exchange (SGX Group), Securities Investors Association (Singapore) (SIAS), as well as several funds. Moomoo SG's presence at the Invest Fair significantly raised its profile among an older demographic of seasoned investors, attracting a thousand tech-savvy investors eager to discuss the use of technology for profit. The event attracted a thousand tech-savvy investors eager to discuss the use of technology for profit.
As part of its Turnkey Asset Management Platform (TAMP) service launched in Singapore in the third quarter, moomoo is providing independent wealth management firms and family offices with state-of-the-art operational tools essential for client service, thereby enhancing the efficiency of financial advisors in the process.
To foster brand influence in the US and Australia, Moomoo is increasing its omnichannel marketing efforts
By the Best Mobile App Awards [2], moomoo App won the Best Mobile App award in August 2023 in the Business & Finance Apps category for the best mobile app of the quarter in the US. As an intuitive investment and trading app that empowers global investors with pro-grade, easy-to-use tools, data, and insights, moomoo accumulated the most votes to help secure the award.
A team from the US attended Forbes' 5th US-China Business Forum and shared the views of the online brokerage platform concerning retail investors as well as their investment trends across various market segments. The team co-hosted a sold-out event with Black Women Invest. During the event, the goal was to educate under-represented demographics about investments and to boost their financial literacy.
moomoo has gotten more media attention in Australia, becoming a popular platform for Australians to trade US stocks, prominently featured in a number of top Australian newspapers. Additionally, moomoo has partnered with the Stockbrokers and Investment Advisers Association to offer online educational programs to professional financial advisors.
In an attempt to address the investment and personal finance education needs of the younger demographic, the moomoo team conducted educational seminars at Newcastle University in Australia, building on its prior collaborations with Macquarie University in Australia.
It is Moomoo boots that give investors the edge globally, allowing them to take advantage of market trends
In the third quarter, moomoo expanded its offering to include multi-leg options rollover for US stocks in the US and Singapore markets and brought US fractional share trading to Singapore. As part of its comprehensive investment service offering, Moomoo introduced over-the-counter (OTC) trading of US stocks in Australia along with Automated Customer Account Transfer Service (ACATS).
In addition to offering tax-reporting accounts (Tokutei Kouza) for trading US stocks in Japan's market, Moomoo JP also introduced cross-currency trading with cash accounts, enabling investors to leverage JPY buying power to trade US stocks in Japan.
By adding quotes for Malaysian stocks and futures, as well as Russell index data, MoMoomoo has improved its analytical capabilities. With over 40 new technical indicators added in the third quarter, investors now have access to a suite of over 100 technical indicators and 38 drawing tools for improved investment analysis, as well as over 40 new technical indicators.
It has been introduced by Moomoo's R&D team that a new feature has been developed that will make algorithmic trading easier for investors, regardless of their level of programming skills. In order to make it easy for both novices and experienced traders to create, backtest, and implement their algorithmic trading strategies to live trading, this tool has been developed.
In the third quarter, Moo's total engagement and the number of user-generated content soared with a 60% increase sequentially, reflecting a strong sense of community. In an effort to stay on top of local trends and investment basics, Moomoo continues to personalize its educational content. There has been a 30% increase in the amount of users on the Moomoo Learn platform in Japan, which underscores the effectiveness of its tailored educational approach.
Data retrieved from data.ai as of September 30, 2023 has been analyzed.
There is no guarantee that accolades will translate into future performance, and Moomoo Technologies Inc. and Moomoo Financial Inc. are not affiliated with Best Mobile App Awards. For more information, please visit: https://bestmobileappawards.com/judging-process/.
What moomoo is all about
We are an investment and trading platform that empowers global investors with easy-to-use, pro-grade tools, data, and insights that allow them to make better investment decisions. In addition, it provides users with the necessary information and technology to assist them in making more informed investment decisions. A range of advanced charting tools, technical analytics, and in-depth data are available to investors. The Moomoo community grows as its users do, creating a place where investors share, learn, and grow together in one place as they share, learn, and grow together. A number of investment courses, educational materials, and interactive events are offered by Moomoo that are free of charge for all investors, regardless of their level of expertise. In order to improve their investment knowledge and insight, users can engage in forum discussions, trending topics, and seminars
In order to improve their investment knowledge and insight, users can engage in forum discussions, trending topics, and seminars
There are several countries where Moomoo operates, including Singapore, Australia, Japan, Malaysia and Canada, as well as Silicon Valley, California, where the company was founded in Silicon Valley, California. It is the parent company of Nasdaq Listed Moomoo and is a global strategic collaborator with the New York Stock Exchange. In addition to being your investment platform, Moomoo is your investment journey as well.
Please visit moomoo's official website at www.moomoo.com for more information, or feel free to send an email to [email protected] with any questions you may have.
Moomoo is the source of the information
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The intuitive investment and trading platform, moomoo, has today announced it has won the Best Day Trading Software award at the 2023 Benzinga Global Conference and Expo.
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