There are various reasons one may want to invest, whether it’s to grow your savings, hedge against inflation or build financial security. Nowadays, investing has never been easier with the introduction of digital platforms that allow users to open their account online and start trading immediately.
One such trading platform is moomoo, which was launched here in February 2024. The moomoo app is developed by Futu Holdings, a global digital brokerage company based in Hong Kong. The company has obtained the Capital Market Services Licence by the Securities Commission (SC) Malaysia to deal in securities and derivatives, so you can rest assured investing with the platform.
Through the moomoo app, you can invest in stocks, ETFs, REITs, structured warrants and DLCs in Malaysia, Singapore and the US markets.
Here’s a guide on how to open a moomoo account in Malaysia.
How To Open A moomoo Account
Step 1: Download moomoo App
Open moomoo app, which is available for free on the App Store for Apple users and Google Play for Android users, to register.
You can also install moomoo on your desktop to view trading charts on a larger screen.
Step 2: Prepare Documents For Opening Account
To open a moomoo account in Malaysia, you will need to prepare the following documents:
- Malaysia identification card
- Information relating to your employment, tax and financial status
- Proof of residence in Malaysia
The proof of residence in Malaysia must be issued in the last three months and includes your full name, the document issuer and residential address. Alternatively, you can also furnish bank statement or utility bill as proof of residence as well.
Investors of other nationalities can also open a moomoo account in Malaysia by providing the following:
- Passport
- Information relating to your employment, tax and financial status
- Proof of residence in Malaysia
Step 3: Open moomoo Account And Fill In Details
After registering, you can tap on Open Account.
You will be required to fill in some details like your citizenship and upload front and back photos of your identification card.
You will then need to provide other information such as your residential address and some tax details. You will also be asked to furnish information about your finances such as your employment status, income sources and investment objectives.
Step 4: Acknowledge Risk Disclosure
Lastly, you will need to read and acknowledge the Risk Disclosure and submit your application.
Opening of new account will usually be approved on the same day but may take between one to three days for some cases. You will receive a notification once your account is approved.
Enjoy Value Services With moomoo
As a moomoo account user, you will be able to access various tools to help you in your investing journey.
One of the notable features include the Shariah Screener, which allows you to filter and search Shariah-compliant stocks easily. To access the feature, go to the Markets page and click the MY tab. In addition, you can also customise your stock screener to search for stocks with over 100 indicators.
moomoo also has an Institutional Tracker that allows you to track the positions of more than 20,000 investment institutions including Warren Buffet’s Berkshire Hathaway and Soros Capital Management to stay up to date with their latest activities. By following these institutions, investors are able to track the securities held by these institutions and observe their strategies.
You can also access moomoo AI to swiftly consolidate and interpret key stock information, enabling a deeper understanding of market trends and stock dynamics.
If you want to start investing with moomoo, you can sign up through their official site. Be sure to check out their latest promotion. You could receive welcome rewards such as free shares or cash bonuses. Don’t miss out on the benefits available to new users.
Read Also: How Much Would You Have Made In The Stock Market If You Started Investing In 2024
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