Futu Singapore sees 40% surge in stocks transfer-in during last two months

Futu Singapore sees 40% surge in stocks transfer-in during last two months

Futu SG (moomoo) is now offering lifetime zero commission for stocks trading across the US, HK and Singapore markets to cater the emerging demand, effective 1 June 2022.*

SINGAPORE, June 7, 2022 /PRNewswire/ -- Futu Singapore Pte. Ltd. ("Futu SG (moomoo)"), a subsidiary of Nasdaq-listed and Tencent-backed Futu Holdings, saw a 40% rise year-on-year in April and May in clients opting for transfer-in stocks from elsewhere into the trading super-app moomoo.

According to Futu SG (moomoo) recent in-app survey, one-fourth of the new transfer-in clients indicated that the top three reasons for transferring-in stocks are moomoo's extraordinary user experience, UI excellence and market trustworthiness.


Catering to the surge in transfer-in among its clients, Futu SG has decided to lower the barriers to investing by rewarding its clients a lifetime zero commission on all stock trading across the US, HK and Singapore markets when successfully transferring in stocks with moomoo during the promotion period from 1 to 30 June 2022, with an accumulated transfer amount of stock reaching above S$20,000.*  

In addition, there is cashback for qualified clients. The cash reward amount will be determined by the total accumulated share value transferred in by a client during the promotional period. An illustration of the cash rewards is as follows:

Accumulated Share Value Transferred-in (SGD)  

  USD Cash Coupon

  Lifetime $0 commission*

2,500-20,000

$150

    US market only

20,000-100,000

$200

ALL market (applicable to the
US, Hong Kong and Singapore
markets)

100,000-500,000  

 $300

500,000

$600 or a pair of
tickets to the Jay Chou
Carnival World Tour -
Singapore  

Commenting on the latest promotion on transfer-in on moomoo, Futu Singapore Managing Director, Mr Gavin Chia said, "

Even amidst market volatility, many investors are catching the crucial moment to continue investing in the market by opening an account and transferring stocks to moomoo. According to Futu's Q1 results, the total client assets in Singapore continued to climb by 15.1%.

We understand the hurdles faced by those who want to get themselves into the global investing place with lower capital; therefore, we aim to serve the unmet market needs better by launching the new promotion to execute further our mission of making investing more accessible by providing the transfer-in offers.

moomoo places technology at the core of its products and services to lower fees and operating costs. The research and development team at Futu SG focuses on in-app features to enhance clients' one-stop investing experiences on moomoo such as real-time quotes, financial stats, market news, community engagement and trading at a low cost.

Futu SG remains fully committed to creating a secure, safe, and transparent investment trading platform for its clients. It has a transparent business model and is actively communicating with customers in explaining the fee structure."

*Terms and conditions apply, for more information, please visit June Transfer-In Rewards, $0 commissions for ALL Markets-FUTU SG Help Center

About Futu Singapore Pte. Ltd.

Futu Singapore Pte. Ltd. (Futu SG) is a wholly-owned subsidiary of Futu Holdings Limited (NASDAQ: FUTU), which is an advanced financial technology company transforming the investing experience by offering a digitised brokerage and wealth management platform. Futu enhances the user experience with market data, news, and powerful analytical tools. Futu also embeds social media tools to provide connectivity to all users, investors, companies, analysts, media and key opinion leaders.

In Singapore, Futu Singapore Pte. Ltd. (www.futusg.com) offers investment products for trading via the moomoo platform, and it is a capital markets services license regulated by the Monetary Authority of Singapore (Licence No. CMS101000).


Source: Futu Singapore Pte. Ltd. Related Stocks: NASDAQ:FUTU
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