Moomoo Singapore is the first digital brokerage to offer 24-hour, five days a week trading of over 100 U.S stocks and exchange traded funds (ETFs).
This ground-breaking feature aims to level the playing field for retail investors to engage in round-the-clock trading of both American securities and ETFs at times that are convenient to them.In today’s trading landscape, accessibility, flexibility and cost-effectiveness are crucial for smart traders. Moomoo Singapore’s latest offering empowers retail investors to capitalise on short-term price movements and trade at their convenience, without needing to adhere to U.S time zones. According to Moomoo Singapore’s latest trading data, in 2023, 26.5% of U.S stock trades on the platform as of last week are placed after-hours (in the pre and post U.S market trading windows that have been available to date), equivalent to 19.6% of total trading volume. In the first quarter, Singapore investors gained more appetite for U.S mega-cap tech stocks, with TSLA, AAPL, NIO, AMZN and BABA being the top-traded stocks by transaction volume. Empowered by an all-in-one platform with real-time market data, fundamental and technical analytics tools, Moomoo Singapore investors are also keen to conduct stock analysis during after-hours. Data reveals that TSLA, AAPL, MSFT, META, and BABA are the most popular to-watch U.S stocks among Singapore investors. A finding worth attention is that 83% of investors also prefer to analyse stocks and consume news during after-hour periods. This signals a significant demand for an always-open stock market where investors may react quickly to market-making news, which can happen at any time.While harnessing the 24-hour trading function, investors will also continue to benefit from Moomoo Singapore’s zero-commission U.S stock and ETF trading, along with a comprehensive suite of tech-enabled tools that facilitate quick and informed decision-making. Says Gavin Chia, Managing Director, Moomoo Singapore, “We have observed a strong interest among our local investors in round-the-clock trading of US securities, and we have responded. I hope they can now catch up on some sleep and capture opportunities at their preferred hours. Reflecting on the first quarter of this year, the remarkable growth we have achieved is a testament to the wide range of products and services that have broken down barriers and empowered local investors to explore a broader investment landscape. We will build upon this success as we move forward into the second quarter and beyond."During the first quarter of 2023, Moomoo Singapore has placed a strong emphasis on financial literacy through dedicated research and events. These initiatives include assessing financial literacy and security levels among women investors, as well as organising an annual paper trading competition for Singapore university undergraduates. Advancements to the platform’s products and capabilities in the first quarter, such as the introduction of leveraged forex trading and integration of the Wise API, have enriched the investing experience and encouraged more investors to choose Moomoo Singapore.These efforts are reflected in Moomoo Singapore’s parent company’s financial results for the first quarter of the year. In Singapore, Moomoo’s relationship between clients and the brand continues to strengthen, with the average Assets Under Management (AUM) of the existing paying clients up 22% sequentially. Moomoo Singapore’s wealth management business continued its fast-paced growth trajectory in Singapore, with AUM increasing by 69% and the number of fund investors rising by 33.8% quarter-over-quarter. Moomoo Singapore is committed to empowering retail investors of all experience levels with a comprehensive suite of tech-driven tools to help them unlock and discover more opportunities than before.
By on Mon, 29 May 2023 13:42:00 GMT
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