Moomoo Malaysia will start offering unit trust funds through its investment app within the next two months, having rapidly expanded its offerings since launching in February. The app, already used by 100,000 investors, will soon allow users to invest in unit trust funds.
5 July 2024 – Moomoo Malaysia is set to begin distributing unit trust funds via its online investment and trading app within the next one to two months, according to a source who confirmed the development to Wealth.
The company is already registered as an institutional unit trust scheme adviser with the Federation of Investment Managers Malaysia, authorizing it to market and distribute unit trust schemes from other parties. Moomoo Securities Malaysia Sdn Bhd, formerly known as Futu Malaysia Sdn Bhd, is the firm behind the Moomoo app and holds a digital broker license from the Securities Commission Malaysia.
Moomoo operates as the international version of the stock trading platform developed by Hong Kong-based Futu Holdings Ltd, a fintech company listed on Nasdaq. Since its official launch in Malaysia on February 29, Moomoo has rapidly expanded its user base and product offerings.
By April 22, less than two months after its launch, Moomoo Malaysia had already attracted 100,000 users. On May 14, the app introduced fractional shares orders, enabling investors to trade fractions of US stocks. Subsequently, on June 25, Moomoo launched a feature allowing investors to set up a central depository system (CDS) account to subscribe to initial public offering (IPO) shares.
With the upcoming addition of unit trust fund investment options, investors will soon have even more opportunities available through the Moomoo app.
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