Futu Holdings Limited () operates as a holding company in digitized brokerage and wealth management platform in China, Hong Kong, the United States, and internationally. The largest investor of Futu as of 2019 is Tencent. Founder Leaf Li 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 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 (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