Moomoo has quickly caught the attention of the retail investor fraternity when it first launched in Malaysia early this year. The Hong Kong-based, NASDAQ-listed stock trading platform has offered free Apple shares for new users who open a Moomoo universal account, deposit MYR8,000 ($1,816.97) and maintain the assets for 30 days. This is a generous promotion campaign not commonly seen in Malaysia.
Such perks, among others, have gained serious market traction, and Moomoo has become the number one downloaded online brokerage app in the country.
“By setting a new technological benchmark and offering comprehensive educational resources, Moomoo is committed to long-term, sustainable growth in Malaysia’s financial market,” Moomoo Malaysia Chief Executive Officer Ivan Mok told TNGlobal in an interview.
“Our vision is to serve a substantial portion of the investing population, making investing more inclusive and accessible, and in doing so, contributing to the country’s overall financial sophistication and expansion.”
While interest in digital financial platforms is growing, Mok said many Malaysians are still new to investing and may lack the confidence to engage with the market fully.
“This gives us an incredible opportunity to broaden the investment community and empower new investors,” he added.
Founded in Silicon Valley in the US, Moomoo is an independent brand of FUTU Holdings, a Hong Kong-based NASDAQ-listed global financial institution. It operates in Singapore, Australia, Japan, Canada, and Malaysia.
In the interview with TNGlobal, Mok also shared the company’s plans and strategy in Malaysia, his views on the opportunities he sees in Malaysia, among others.
Below are the edited excerpts:
Moomoo trading platform was launched in Malaysia Feb 27 this year. How is the platform doing? Could you please share some figures? (transaction values, how many users sign up so far?)
Since our launch on February 27, 2024, moomoo Malaysia has quickly established itself as a leading digital trading platform. In Q2 2024 alone, Malaysia contributed the highest number of new clients globally, driving a 168 percent year-over-year growth in paying clients. Average client assets in Malaysia also grew by 45 percent sequentially, and total client assets more than doubled. This reflects not only strong user engagement but also growing trust in our platform.
Moomoo’s success in Malaysia aligns with our broader regional expansion. Globally, our user base grew by 13.3 percent year-over-year, surpassing 23 million users with two million paying clients by Q2 2024. Additionally, trading volumes increased by 21.1 percent, reaching $207.7 billion for the quarter. (FT Markets)
This momentum signals a shift in how everyday Malaysians approach investing. By providing institutional-grade tools, free access to real-time market data, and advanced analytical features, we are removing traditional barriers and fostering a more inclusive financial landscape.
This is particularly significant in Malaysia, where retail investor participation has historically lagged behind more developed markets. By offering comprehensive tools and empowering everyday investors, moomoo is expanding the market and enabling more Malaysians to take advantage of wealth-building opportunities with confidence and insight.
Would you share some of the plans moving forward? / Moomoo Malaysia recently announced its plans to be the first to launch US Options in Malaysia and will be offering Hong Kong Stock Exchange (HKEX) trading, further expanding its range of investment products. Any timeline?
We officially launched US Options trading on Sep 13, becoming the first platform in Malaysia to offer this product. This launch marks a significant milestone in the local investment landscape, giving Malaysian investors access to the world’s largest financial market with tools to diversify their portfolios and enhance their investment strategies.
The introduction of US Options enables our users to trade with major companies listed on US exchanges, offering new opportunities to manage portfolio risk, hedge positions, and capitalize on high-growth sectors like technology and AI. As part of our commitment to educate investors, we also provide comprehensive resources to help both novice and seasoned investors navigate this new feature with confidence.
As for Hong Kong Stock Exchange (HKEX), trading has been available on our platform since Sept 26, 2024, further expanding the investment choices available to our users.
This year, the HKEX has been one of the standout markets globally, benefitting from the positive effects of China’s recent economic stimulus measures. This rally has sparked investor interest, presenting fresh opportunities in sectors that are poised for growth in the region.
By making HKEX accessible to Malaysian investors, we aim to provide a valuable avenue for portfolio diversification and allow them to capture some of the most promising prospects in the Asian market today.
Our earlier launch of the Singapore Exchange (SGX) has already given investors access to prominent Southeast Asian stocks, and HKEX complements this by adding exposure to some of the leading companies in Asia.
Looking ahead, we remain committed in transforming and setting new benchmarks in the local investment landscape by continually introducing innovative products and features, expanding market access, and enhancing our platform’s user experience with cutting-edge technology.
What other range of investment products can Malaysians expect moving forward?
We are creating an investment ecosystem that’s as dynamic and multifaceted as our users’ needs. Our ambition is to become a truly comprehensive investment super app, seamlessly blending diverse financial products and services into a single, intuitive platform that
empowers Malaysian investors to navigate and thrive in global markets.
By offering direct access to major global exchanges like SGX and HKEX, as well as advanced products such as U.S. options, we’ve crafted a platform where investors can explore a range of assets across different markets.
Our Cash Plus offering is evolving to include more mutual fund options including Shariah-compliant options which is already available, giving Malaysian investors a flexible way to manage idle funds with a balance of liquidity and potential returns.
Whether users are seeking stable growth or a more strategic approach with options, they’ll find tools that allow them to grow their wealth effectively.
We are rethinking what it means to invest in today’s digital age. By uniting these varied products within a single platform, Moomoo Malaysia makes it possible for investors to seamlessly manage their portfolios, analyze real-time data, and learn through our extensive educational resources.
This is not just about convenience—it’s about providing a holistic investing experience where all the tools and insights needed are at an investor’s fingertips.
The future of investing is about accessibility, diversity, and empowerment, and that’s precisely the ecosystem we’re building. We are committed to setting new benchmarks for what investors can expect from a platform that evolves with them.
We are not only simplifying access to a wide range of financial products but also shaping the landscape by offering Malaysian investors a robust toolkit that grows alongside their ambitions. Our mission is to be the go-to platform for investors who want an all-encompassing, powerful tool to build their financial futures, no matter where they start or how far they want to go.
What is the potential Moomoo Malaysia sees in the local market?
Malaysia presents a significant opportunity for Moomoo, particularly as the country looks to modernize its brokerage sector and elevate its global competitiveness. With a population of 34 million and a median age of 30.8, the country is poised for digital transformation.
Investors are increasingly seeking technology-driven solutions, but despite this growing demand, online trading still accounted for only 47 percent of the total transaction volume in 2020, despite a 156 percent surge in online transactions from MYR800 million in 2019 to MYR2.1 billion.
This indicates a substantial opportunity for platforms like Moomoo to expand access to digital investing solutions and bring new investors into the market.
While digital adoption is growing, there remains significant room for development. For instance, online transactions accounted for only 47 percent of the total transaction volume in 2020, despite surging by 156 percent from MYR800 million in 2019 to MYR2.1 billion.
This signals an untapped opportunity for platforms like Moomoo to lead the digital transformation in the financial services sector by providing innovative tools that empower more Malaysians to participate in capital markets. (Bursa Malaysia FY2020 Financial Results, Feb 2, 2021)
Our experience in markets like Singapore, where we achieved nearly 30 percent market penetration within three years, demonstrates our ability to scale quickly and deliver impactful solutions.
We aim to replicate this success in Malaysia by not only introducing advanced trading tools and real-time market data but also by creating an accessible, user-friendly platform that encourages more Malaysians to invest.
With the support of progressive regulations and a growing interest in digital financial services, we believe we can play a key role in expanding market participation. Our goal is not just to capture existing market share but to foster the growth of new investors and bring
more Malaysians into the world of investing.
By setting a new technological benchmark and offering comprehensive educational resources, Moomoo is committed to long-term, sustainable growth in Malaysia’s financial market. Our vision is to serve a substantial portion of the investing population, making investing more inclusive and accessible, and in doing so, contributing to the country’s overall financial sophistication and expansion.
What are the challenges Moomoo Malaysia face when it expands in Malaysia? How to address these challenges?
At Moomoo Malaysia, we see the evolving landscape in Malaysia not as a series of challenges, but as exciting opportunities to drive meaningful change and growth in the investment ecosystem.
One of the key opportunities is the chance to elevate financial literacy across a diverse range of investors.
While interest in digital financial platforms is growing, many Malaysians are still new to investing and may lack the confidence to engage with the market fully. This gives us an incredible opportunity to broaden the investment community and empower new investors.
Through MooLearn, we provide access to over 700 educational courses, covering topics from basic investing principles to advanced market strategies. By offering these resources directly within our platform, we enable both novice and seasoned investors to make informed decisions.
Tools like paper trading allow new users to practice without risking capital, ensuring they gain the necessary experience and knowledge to participate confidently in the markets.
Secondly is expanding market participation. Although online trading volumes have surged, with a 156 percent increase from MYR800 million in 2019 to MYR2.1 billion in 2020 (Bursa Malaysia FY2020 Financial Results, Feb 2, 2021), a significant portion of the population has yet to fully embrace digital financial platforms.
We are addressing this by creating a platform that is both accessible and user-friendly. Our intuitive design and advanced tools, like free Level 2 market data and multi-market access, ensure that every investor, regardless of experience, can easily engage with global markets.
By offering zero-commission trades (*0 commission for 180 days only. Full terms & conditions and other fees apply) and seamless access to major exchanges such as the U.S., Hong Kong, and Singapore, we enable Malaysian investors to diversify their portfolios, participate in new opportunities, and navigate the global markets with confidence. This isn’t just about providing access—it’s about expanding the market itself, creating new avenues for wealth-building and empowering a broader base of investors.
From a regulatory perspective, navigating compliance requirements is essential to building and maintaining trust in the market.
As one of the few technology-driven platforms to secure a Capital Markets Services License from the Securities Commission Malaysia, Moomoo adheres to strict regulatory standards, ensuring the security and integrity of user data and transactions.
We have built robust custodial protections, where client funds are stored in segregated custodian accounts, adding an extra layer of safety for our users. Moreover, our platform integrates advanced authentication mechanisms and real-time alerts, giving investors the transparency they need to trust the system fully.
In summary, Moomoo Malaysia views the Malaysian market as a landscape rich with opportunities.
Focusing on financial education, expanding market access, building trust through regulatory compliance, and continuously innovating, we are not only growing our presence but helping to reshape the future of investing in Malaysia.
It was previously reported that Moomoo Malaysia wants to target young retailers. What is Moomoo Malaysia’s strategy?
We are not here to compete for market share. It is not about slicing up the existing pie – we’re here to make a bigger one. Our vision is to catalyze the growth of the entire investing ecosystem.
By prioritizing exceptional user experience, competitive pricing, unparalleled customer service, and a wealth of educational resources, we aim to empower a new generation of Malaysian investors. This focus on expansion, not acquisition, will benefit the entire market, creating long-term value for all participants.
Malaysia possesses immense potential for increased investor participation. Our efforts to cultivate financial literacy and investment awareness align with the proven trajectories of developed nations, where capital markets play a vital role in wealth creation for its citizens.
Moomoo Malaysia is committed to pioneering this path for Malaysia, driving not merely our growth, but the growth and sophistication of the entire market ecosystem.
How does Moomoo position and differentiate itself from other local or foreign trading platforms?
We view our mission beyond mere profit-making; we aim to contribute significantly to the countries we operate in, the investors we serve, and the broader financial industry as a whole. We bring to the market a combination of technological innovation, and a commitment to making investing accessible to all. Our platform is designed to provide features and tools that were once exclusive to institutional investors, allowing retail investors to make informed and confident decisions.
One of the key differentiators is our free access to real-time market data and analytical tools. While many platforms charge for real-time data, we offer Level 1 market data for Malaysian stocks and Level 2 data for U.S. stocks at no cost. This empowers all our users, from beginners to seasoned investors, to stay informed and act on the latest market developments.
Our platform is equipped with advanced features such as technical analysis tools, stock screeners, and comprehensive market insights, enabling users to analyze stocks with precision and make data-driven decisions.
Our platform also offers access to over 150 news outlets, ensuring that our users are always up-to-date with global financial trends.
Moomoo also fosters a sense of community with our global Moo Community of over 23 million investors. This feature allows users to interact, share insights, and learn from each other, creating a more engaging and collaborative investment experience. This community-
driven approach, combined with our educational resources, supports the growth and confidence of our investors, particularly new entrants to the market.
In addition, Moomoo Malaysia operates with full regulatory compliance under the purview of the Securities Commission Malaysia, ensuring that our platform meets the highest standards of security and transparency. We are committed to safeguarding the interests of our users by providing a platform that is not only innovative but also reliable and secure.
Through our combination of technology, community engagement, and regulatory compliance, Moomoo Malaysia sets itself apart from other platforms, offering a truly comprehensive and inclusive investing experience.
How many countries Moomoo operate in Southeast Asia? Would you be able to share which are the countries in Southeast Asia Moomoo is looking at?
Currently, Moomoo operates in two key markets in Southeast Asia — Singapore and Malaysia. Our success in these markets has laid a strong foundation for future growth, and we are continuously exploring opportunities to expand our presence in broader investor
segments not only regionally, but on the international level.
Our expansion strategy is guided by a thorough understanding of each market’s regulatory frameworks, investor behaviors, and technological readiness. This careful approach has been instrumental in our success in both Singapore and Malaysia, where we have worked closely with regulatory authorities like the Monetary Authority of Singapore and the Securities Commission of Malaysia. Such partnerships ensure that our platform is compliant, secure, and tailored to meet local market needs.
Southeast Asia is a region with vast potential, and we are excited by the opportunities it presents. While we are continuously exploring the possibilities for regional expansion, our top priority remains ensuring that our platform offers the highest value to investors by delivering cutting-edge technology and unparalleled access to global markets.
By leveraging our global fintech expertise and focusing on long-term, sustainable growth, we are confident that Moomoo will continue to play a leading role in shaping the future of digital investing across the region.
Moomoo Malaysia enhances global market access with Singapore Exchange (SGX) trading