Futu Holdings Delivers Strong Growth With US$1.281B Annual Revenue, Moomoo Expands Aggressively Across Global Markets

Futu Holdings Limited (Nasdaq: FUTU) has released its 2023 earnings results, showcasing impressive momentum in its digital investment platform operations. The tech-driven brokerage giant reported full-year revenues of US$1.281 billion and non-GAAP adjusted net income of US$585.1 million, marking increases of 31.4% and 45.9% year-over-year respectively. In Q4 alone, the company generated US$303.8 million in revenue with US$121.7 million in adjusted net income, reflecting a 4.1% YoY growth.

User Base Surges as Global Presence Accelerates

The numbers tell a compelling story of user engagement and client acquisition. By year-end 2023, moomoo and its sister brands had attracted 21.64 million global registered users, with 1.71 million active paying clients on the platform. Both metrics climbed substantially—user growth of 10.5% and paying client expansion of 15.0% compared to 2022. Throughout 2023, Futu onboarded over 220,000 new paying clients, with Q4 contributing more than 59,000 of that total, representing a robust 41.0% increase from the same quarter in 2022.

Assets under management tell another part of the success story. Total client assets reached US$62.164 billion, up 16.3% annually. Meanwhile, the company maintained an impressive 98% paying client retention rate, underscoring platform stickiness. Early 2024 momentum proved even stronger—new client acquisitions and AUM growth in January and February have already eclipsed Q4 2023 figures, fueled by rallies across various equity markets.

Southeast Asia: Malaysia Launch Marks Historic Milestone

Futu’s geographic expansion continued at an accelerated pace. In February 2024, Moomoo MY officially commenced trading services in Malaysia, becoming one of the first global digital brokerage platforms to secure a Capital Market Services License from the Securities Commission Malaysia. The launch resonated strongly—within a week, the platform attracted over 30,000 new clients, highlighting the appetite for sophisticated investing tools in emerging markets.

Singapore Operations Achieve Historic Profitability Milestone

Moomoo Singapore delivered a watershed moment in Q4, reaching profitability on a quarterly basis for the first time while recording stunning 115.8% YoY AUM growth. The platform’s competitive positioning strengthened considerably: according to Data.ai, moomoo ranked first in accumulated downloads for stock trading apps and achieved the highest daily active user count throughout 2023.

The Singapore operation expanded its premium client base notably, with average account balances surpassing S$17,000 by year-end, reflecting significant high-net-worth client growth. Moomoo Singapore received the Best Retail Broker Award from the Securities Investors Association (Singapore), validating its commitment to superior investor experience and platform innovation.

US Market Expansion: Enhanced Product Suite Attracts Traders

Moomoo strengthened its US footprint through strategic product enhancements. The platform announced a collaboration with CBOE Global Markets to introduce index options trading for eligible US clients, representing a significant accessibility breakthrough for options market participation. The company simultaneously upgraded its Cash Sweep program, featuring competitive annual percentage yields to enhance cash management capabilities for securities account holders.

Industry recognition followed: Benzinga awarded moomoo the Best Day Trading Software award at the Global FinTech Awards in December 2023, marking the third consecutive year of Benzinga fintech award recognition across multiple categories.

Australia: Rising Star Status and Tech Innovation

The Australian market continued its growth trajectory. Money magazine recognized moomoo as Best of the Best 2024 - Online Broker Rising Star, acknowledging the platform’s emergence as a cutting-edge trading solution providing local investors access to global markets and innovative trading tools.

Moomoo Australia enhanced its analytical capabilities by introducing US stock Insider Activity tracking and Candlestick Patterns features, enabling faster market analysis and informed decision-making. The platform’s proprietary Charting Tools received patent protection from IP Australia, cementing its technological differentiation. December 2023 brought the launch of Cash Plus, a wealth management solution tailored for Australia’s elevated interest rate environment.

Canada and Japan: Rapid User Growth and Market Penetration

Canada witnessed explosive momentum in Q4, with registered user growth of 258% quarter-over-quarter. According to Data.ai’s tracking, moomoo climbed to second place among Android stock trading app downloads in Canada between October-December 2023.

Moomoo Japan expanded its investment universe by introducing US stock trading capabilities to Japanese investors. The platform’s daily active user metrics shattered consecutive records throughout Q4, demonstrating strong user engagement across the region.

Malaysia Leadership Position Established Within Months

Moomoo achieved dominant status in Malaysia’s trading app landscape, capturing the top ranking for accumulated downloads within six months of entry—a remarkable achievement for a newly launched operation. The platform hosted a stock paper trading competition with Bursa Malaysia support, engaging nearly 5,000 participants and fostering community engagement.

Global Learning Platform Expansion Drives User Engagement

Across all markets, Moomoo’s Moo Learn educational initiative gained substantial traction. The learning platform and community features delivered immersive educational experiences for global users, with particular localization efforts for non-English speaking markets including Japan, Canada, and Malaysia. Q4 user growth on Moo Learn surged 71.44% quarter-over-quarter, indicating strong appetite for investing education and community participation.

Platform Positioning and Strategic Outlook

Futu’s diversified revenue streams and geographic presence position the company as a prominent technology-driven investment platform. The company operates its digital platforms—Futubull and moomoo—alongside corporate service offerings including IPO distribution and ESOP solutions. By embedding social connectivity features, Futu has created a network that links investors, companies, analysts, and key opinion leaders, differentiating its platform experience in an increasingly competitive market.

The results underscore moomoo’s expansion from a predominantly US operation to a genuinely global platform, with strong operational execution across multiple regulated markets and demonstrated capacity to achieve profitability while maintaining rapid user growth.