MOOMOO AIMS to BE PLATFORM OF choice FOR INVESTORS
MOOMOO Malaysia is out to gain a significant foothold in the nation’s fintech sector, targeting nearly 30% market penetration within less than three years through its innovative trading platform, moomoo.
Moomoo Malaysia chief operating officer Dennis Jee shares that the platform has demonstrated its capacity for rapid growth and positive rapid user response in markets such as the US, Singapore, Australia, Japan and Canada.
“In Singapore specifically, we achieved a significant milestone of securing nearly 30% market penetration within less than three years. We fully intend to replicate this success in Malaysia,” he says.
The global financial technology company launched its Moomoo trading platform in Malaysia on Feb 27, having obtained a Capital Market Services licence from the Securities Commission allowing engagement in securities and derivatives trading and clearing for securities and derivatives nationwide.
Jee highlights Moomoo’s immediate priority is to establish itself as the “platform of choice” for Malaysian investors, focusing on exceptional user experience, education, and technological innovation.
“This user-centric approach fuels our strategies for long-term sustainable growth and contribute to the overall expansion and sophistication of the Malaysian market,” he shares.
Since its launch, Moomoo has received overwhelming support from Malaysian investors – boasting more than 120,000 Malaysian users, and the addition of over 30,000 clients within a week since the launch.
“This reflects the trust and excitement of Malaysian investors for Moomoo.
“With a worldwide user base exceeding 21 million, having 120,000 Malaysia users on board is another vote of confidence from the investing community,” he says.
Jee envisions the platform’s expansion 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.”
He emphasises that the platform’s mission is to empower ordinary Malaysians with the same access to information as institutional investors, and, to provide easily digestible financial concepts for new investors and advanced tools for experienced ones in a collaborative space that encourage the exchange of ideas and experiences.
Moomoo offers real-time quotes, livestreamed events with CEOS and other tools once reserved for the elite – all for free.
Among others, Malaysian investors now have access to Moomoo’s super app, which offers over 1,000 Malaysia stocks and more than 9,000 US stocks and exchange-traded funds (ETFS) and more to trade.
Jee highlights three key areas in Malaysia where Moomoo can make a substantial impact;
> Elevating technological capabilities within the brokerage sector,.
> Promoting investor participation and financial literacy.
> Positioning Moomoo as a global trading platform with seamless transactions and access to diverse finance products.
He says the introduction of advanced technological solutions can enhance Malaysia’s financial market competitiveness and establish a precedent for technological innovation.
“We aim to raise awareness about investment opportunities and provide the necessary education to empower investors to make informed decisions.
“By fostering a culture of investment and financial literacy, we believe we can contribute to economic growth and prosperity in the country.”
In the future, he says that Moomoo aims to introduce Malaysian financial products to their global user base – enabling local investment products to reach an international audience and expand its global footprint.
Recognising South-east Asia’s economic growth and increasing digitalisation, Moomoo sees opportunities for growth in the fintech and online investment sectors.
“By leveraging our technological expertise and strategic partnerships, we aim to establish ourselves as a leading tech-forward super investment app in the region,” he says.
He shares that the licence by the Securities Commission is a testament to the platform’s commitment to safety, security standards and adherence to regulatory requirements, including investor protection, data privacy and anti-money laundering measures.
“This approval from Malaysian regulators is a vote of confidence in the safety, security and operational excellence of our platform for Malaysian investors.”
He explains that Moomoo’s utilisation of Al-powered features, such as stock screener and market monitor, provides users with a significant edge in their decision-making process.
“Our stock screener enables users to apply highly customisable filters to sift through a massive pool of stocks. Instead of manually researching hundreds of companies, users can instantly narrow down their options to those that align with their specific investment strategies and risk tolerance.
“Powered by advanced algorithms, the market monitor constantly analyses market trends and patterns identifying emerging opportunities, potential risks, and unusual market activities, to streamline the process of staying informed – thus saving investors valuable time and aiding in data-driven decision-making,” he concludes.
“By leveraging our technological expertise and strategic partnerships, we aim to establish ourselves as a leading tech-forward super investment app in the region.” Dennis Jee