The r/wallstreetbets movement that captured the attention of the investment community have demonstrated the potential provided by new online brokerage platforms. Not only have its rising popularity disrupted the traditional brokerage business model, online brokerage platforms have also reduced friction for retail investors to access global investable products. Indeed, they generally appeal to young investors who appreciate lower costs and greater efficiencies. These are traits that Singapore-based retail investors who love to have as well!
I was one of those attracted to the low fees and goodies offered by a new kid on the block – moomoo by Futu Singapore. Futu Singapore, a wholly-owned subsidiary of Futu Holdings Ltd (‘Futu’), is licensed and regulated by the Monetary Authority of Singapore (‘MAS’). I promptly registered my interest in anticipation of its product launch as shown in Diagram 1....