Futu Holdings Limited () operates as a holding company in digitized brokerage and wealth management platform in

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

Hong Kong Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...

, the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

, and internationally. The largest investor of Futu as of 2019 is

Tencent Tencent Holdings Ltd. ( zh, s=腾讯, p=Téngxùn) is a Chinese Multinational corporation, multinational technology Conglomerate (company), conglomerate and holding company headquartered in Shenzhen. It is one of the highest grossing multimed ...

. Founder

Leaf Li Leaf Hua Li is founder, chairman, and chief executive officer of Futu Holdings Ltd. Li is also on the board of Futu Securities (Hong Kong) Co. Ltd., Futu Network Technology Ltd., Futu Securities International (Hong Kong) Ltd. and Futu, Inc. Li j ...

is a former employee of Tencent. The company originally traded as NASDAQ symbol FHL, but changed to FUTU. Futu, raised $90 million in an initial public offering on the

Nasdaq The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...

on March 8, 2019.

Moomoo

Moomoo Financial Inc., a subsidiary of Futu, is a U.S.-based financial services company headquartered in Palo Alto, California that allows customers to trade US stocks, Chinese stocks, Hong Kong stocks, ETFs, and options. Moomoo, Inc was founded in March 2018. The platform was created specifically for U.S. customers.

Controversies

CSRC Orders Futu and Tiger Brokers to Cease New Mainland China Customer Registrations

In late 2022, the

China Securities Regulatory Commission The China Securities Regulatory Commission (CSRC) is a government agency directly under the State Council of the People's Republic of China. It is the main regulator of the securities industry in China. History Indicative of the role of the C ...

(CSRC) ordered Futu and Tiger Brokers to stop accepting new customers from mainland China. This followed ongoing concerns from authorities since 2021 about the regulatory compliance of their cross-border brokerage operations. While the platforms are no longer allowed to onboard new mainland-based investors, existing customers can continue trading, but without the ability to add new capital. Additionally, both brokers were required to pull their trading apps from mainland China.

References

External links

* Official Websites
Futu HoldingsFutu HK
* Business data for Futu
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{{Online brokerages Holding companies of Hong Kong Financial derivative trading companies Online brokerages Companies listed on the Nasdaq