Best of the Best 2024: Online Broker Rising Star

Moomoo has been named Money's Online Broker Rising Star as part of the Best of the Best awards.

An innovative platform gives local investors access to global markets and a host of trading tools

Demand for investment platforms that allow local traders to easily access overseas markets has never been higher, as investors seek to diversify their holdings away from the Australian bourse, which represents just 2% of global listed assets.

New trading portals have emerged to meet this demand, including Moomoo, whose vision is to create the most advanced trading platform to cater to all investor types. The business claims to have pioneered 24/7 trading in US securities for Australians.

Moomoo is part of Nasdaq-listed Futu Holdings Group, which maintains more than 50 financial services licenses around the world.

"Trading is a serious endeavour, but it's also rewarding and fulfilling," says Matt Wilson, vice-president, chief market strategist, at Futu Securities (Australia).

"We try to make it enjoyable. Moomoo is committed to creating the most technically advanced trading platform in the market, driven by customer demand and feedback."

Moomoo offers 38 drawing tools and more than 100 technical indicators to Australian investors at no cost. In the past six months, it has launched or enhanced more than 2500 features. Its real-time data feed refreshes every 0.03 seconds, helping investors make more informed trading decisions.

"Very few companies can compete with the size and strength of our IT R&D team. We have 1600 staff dedicated to research and development, an advanced customer service system and an offline community engagement strategy to gather user feedback and execute rapid updates on the trading app," says Wilson.

"Existing trading platforms in the Australian market simply cannot do this. Some take years to respond to simple customer requests."

Moomoo has invested heavily in developing a suite of advanced tools, many of which are not even available to institutional investors, to enhance its users' trading experience.

"Our institutional fund tracker, industry chain analysis, visualised financial data, free live quotes, pro-level drawing tools and trend projection features empower investors to make better decisions," says Wilson.

Another product, Moomoo Algo Trading, simplifies commonly used but complex algorithm trading program languages into modules, allowing users to easily create their own trading strategies.

They drag and drop components to build a strategy, cutting out the hassle of time-consuming, line-by-line coding.

"All it takes is a few simple steps to set up an algo trading strategy to carry out back testing and live trading."

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