Futu Securities Records Steady Growth Regardless of Coronavirus
Entering the Billionaire Club with HK$100 Billion Custody Assets
HONG KONG, March 5, 2020 /PRNewswire/ -- Despite the financial market being affected by the outbreak of coronavirus, Futu Securities has been undergoing rapid growth which the investment trust assets hit HKD 100 billion by 20 February 2020 topped the list of CCASS online stock brokers in Hong Kong, showing its high market potential with the strong support of advanced technology.
Daily Market Turnover hits 15 Billion in February; One-stop online brokerage service trend is rising
Futu Securities is ranking up among other participants of the Stock Exchange market in Hong Kong. Futu Securities recorded a 9 billion average daily trading volume in February under the impact of Alibaba, Tencent, and Tesla rising amid coronavirus situation while the highest daily turnover hits 15 billion, three times the amount from the same period of the prior year and the total turnover of Hong Kong and US stocks on February 29 also hit over HKD 180 billion. Futu Securities ranked the 16th in the list of top 20 trading companies in the Hong Kong stock market, according to TradeGo.
Futu has been experiencing steady business growth since the launch of the first online investment account opening service in Hong Kong on 23 July, 2018. The number of accounts has more than doubled, especially the proportion of online account opening in January and February reached 90%. Robin Li Xu, the Senior Vice President at Futu Holdings Limited says, "People prefer to stay at home under the current situation, thus spending more time online than usual. A lot of users have been trading via smartphones as there is a huge increase of our mobile app Futubull usage in both January and February with around 300,000 daily active users, proving that the investment habits have changed under the impact of coronavirus. We expect that the one-stop online brokerage service will become more prominent in the future."
Seeing the potential in individual investors market, Futu Money Plus increases investment flexibility
The recent acquisitions by Wall Street firms reflects the reduced regulatory requirements for banks by the US government, but more importantly the Wall Street giants have shown their interest in the potential of individual investors. In Asia, Futu Securities' services are widely welcomed by individual investors hitting a stellar performance since its establishment. Seeing the rising trend of online securities trading in recent years, Futu Holdings Limited launched different wealth management products to cater for the needs of investors, such as stock options and futures while Futu Money Plus is the new shining star among all the products.
Started in August 2019, Futu Money Plus added innovation and flexibility into its investment philosophy by creating an e-marketplace of mutual funds. The Asset under Management (AUM) of Futu Money Plus has exceeded HKD 5 billion after 3 months since its launch with a growth rate higher than other mutual fund management companies in Hong Kong. Futu Money Plus provides a convenient and flexible investment experience for its users setting apart from the complicated account opening process and the low liquidity of traditional banks or securities firms.
Futu Money Plus reimagined stock investment and fund management. Its diversified investment and financial management options enable clients to switch among investment choices like currency, bond and stock at any time. With the low entry barrier of HKD 1 to purchase any money market fund in HKD or USD, clients can earn interest and manage their investment flexibly with a higher interest rate than time deposits at banks. Futu Money Plus is a one-stop asset allocation platform where clients can manage their discretionary stock trading and wealth management all in one place without any recurring fee, maximising the profit of the time and capital invested. The products sold by Futu Money Plus are also recognized and regulated by the SFC (Securities and Futures Commission), and the fund products invested by customers are protected by relevant regulations.
Professional R&D Division builds industry-leading online investment service platform
Since Futu Holding Limited was listed on NASDAQ in March last year, Futu continues to advance asset security by leveraging new technology, offering Hong Kong investors a safer and more efficient wealth management service. The R&D division of Futu Holding Limited consists of over 600 staff accounting for 74% of the total number of employees. It focuses on product development and technology innovation to support its self-developed software platforms bringing a faster, safer and more stable financial service experience.
In 2018, Futu Securities announced the collaboration with Tencent Cloud and Hong Kong Telecom to create Hong Kong's first financial cloud services. Financial services require a high level of cybersecurity. Futu Securities will benefit from the more advanced technologies of this dedicated cloud platform which can make its underlying system more secured to fight against cyber attacks with two-step verification and encrypted messaging in order to guard the security of users' information assets. In light of its advanced technology, Futu will take investment security to the next level and create an even more secured and high-quality investment platform that enables users to trade Hong Kong stocks, US stocks, A shares and funds at the same time, bringing the best user experience to the market.
Disclaimer: This article should not be construed as the basis for an offer or lobbying to subscribe, buy or sell any fund, investment product or investment decision. Investment involves risks. Please read and understand the sales documents and risk disclosure statement before investing.
About Futu Securities International (HONG KONG) Limited
Futu Securities International (HONG KONG) Limited is a licensed company recognized by the Hong Kong Securities and Futures Commission. Futu has grown rapidly since its establishment in 2012, and ranked as the number one brokerage firm in Hong Kong and recorded the top three of retail brokerage transactions in Hong Kong. Futu Holdings Limited is a strategic investment company of Tencent, ever since Futu was listed on NASDAQ on 8th March 2019, its hopes to invest more resources in technology, human resources and networks. With a strong technology development, Futu is committed to become an influential global financial service platform.