Qs: Is Moomoo Safe & Reliable? ✅️
The few questions on Malaysian investors mind; What is moomoo? Is Moomoo safe? Can this new investment platform be trusted?
Moomoo is a online trading platform that is a wholly-owned subsidiary of NASDAQ-listed Futu Holdings, a company backed by Tencent. The company focuses on the trading of American, Chinese, and other securities.
Any platform, including Moomoo, could be subject to being hacked or breached. However, Moomoo does use a regulated brokerage company to make its transactions. Futu Inc., the broker-dealer Moomoo uses, is registered with the U.S. Securities and Exchange Commission and is a member of the Financial Industry Regulatory Authority – two of the most reputable recognised institutions.
Additionally, it is a member of the Securities Investor Protection Corp (SPIC), which offers up to $500,000 of protection should the brokerage fail and your assets disappear. This coverage does not protect against loss of value from investment price changes. Explanatory brochure available at www.sipc.org.
On 16th May 2023, Futu’s wholly-owned Malaysian subsidiary secured the Approval-In-Principle for the Capital Markets Services License (“CMSL”) from the Securities Commission Malaysia.
Moomoo’s platform enables users to invest in stocks, exchange-traded funds, and American depositary receipts, among other assets. It also allows clients to trade shares of companies in the US, Hong Kong, and China under a single account. The company has onboarded over 20 million users globally since it was founded in 2018.
Malaysia is the second Southeast Asia launch of moomoo. So, are you ready to register with Moomoo MY?
Website https://www.moomoo.com/my
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Money Never Sleeps. When money speaks, the truth remains silent. Money is not the only answer,but it makes a difference.
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Mr Pistachio : $500000 is for single account or all cust account?
EternalBlue88 Mr Pistachio: Definitely single user account
Perez WKK : Can I open an account with moomoo in Malaysia