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HONG KONG, Sept. 27, 2023 /PRNewswire/ -- From September 21st, Moomoo Financial Canada Inc. ("moomoo CA", [1]) allows Canadian investors to trade US stocks using moomoo, a global stock trading platform that was officially introduced to Canada in August.
"As a global investment and trading platform at the forefront of US stock trading, we are thrilled to introduce our new US stock trading feature to Canadian investors," said Steve Zeng, moomoo's Head of Global Strategy.
"In addition to the pro-level analytical tools, free Level 2 data, and exceptional services offered by moomoo, we are now offering Canadian investors an easy and affordable way to trade US stocks."
*Images provided are not current and any securities are shown for illustrative purposes only and are not recommendations.
Moomoo empowers investors with affordable trading fees, charging a minimum of $1.99 per order, making it a highly competitive option for Canadian individual investors [2]. As of August 26th, comparative data shows that some other Canadian brokerages may charge their clients between $4.95 and $9.99 per trade for US stocks and ETFs [2].
Additionally, moomoo offers an appealing currency conversion fee of 0.09% for CAD to USD transactions for amounts less than $100,000. In contrast, some other brokerages may charge 1% or higher for each transaction [2].
Trade like a pro using moomoo's tech-driven trading platform
Moomoo, founded in Palo Alto, California five years ago, is dedicated to transforming investment experience through technological innovation. Supported by a robust research and development team, moomoo remains committed to supporting investors of all backgrounds with simplified access to professional-grade investment resources and education.
This year marks a significant milestone as Moomoo's Research & Development affiliate has successfully obtained a patent, duly authorized by the U.S. Patent and Trademark Office, for an innovative method that enables investors to create and personalize charts within the moomoo app.
The patented tools include technical analysis tools, including Gann Fans and Fibonacci retracements, commonly utilized by professional traders. These represent just a portion of the comprehensive toolkit, comprising of 45 drawing tools, including 10 tools that were newly released last week, and more than 100 investment indicators, all of which are freely available to Canadian investors.
In response to the discerning needs of individual investors seeking professional-grade information, moomoo offers a range of comprehensive, highly visualized company insights directly from the moomoo platform. These insights reveal vital company financial data and trade overviews, potentially helping investors to stay up on the market trends.
Furthermore, moomoo offers an array of innovative and advanced tools, including Heat Maps, Paper Trading, Stock Screener, Institutional Tracking, Industrial Chains, and so much more. With real-time data updates occurring as short as every 0.03 seconds, moomoo empowers investors with the information needed to make more informed investment decisions.
Join a real social trading platform in Canada, meet like-minded investors worldwide
Moomoo's global investor community enables investors from multiple regions to come together and share their stories, experiences, and advice. In collaboration with its sister brand, moomoo's community has grown to over 20 million users as of May 2023, through regular community events and free online investor education courses.
"Being a real social trading platform in Canada, we cultivate a unique ecosystem helping our users grow. As of the end of the second quarter, the click-through rates for Moo Learn's front-page content surged by 21%, while course completion rates witnessed a remarkable 44% increase compared to the previous quarter," Steve added.
"The world is eager to hear the voice of Canadian individual investors, and we look forward to more contributions from Canadian investors in our moo community."
Several days before Moomoo CA's launch of stock trading, its sister company Moomoo Japan also launched their US stock trading functionality. Through the moomoo platform, Japanese investors gained access to approximately 7,000 tradable US stocks and ETFs.
This trading function launch establishes a new pinnacle in the Japanese online brokerage industry, providing access to the highest number of tradable US shares available. Impressively, it surpasses the second-highest competitor in the Japanese industry by nearly 30% [3].
[1] ln Canada, investment products and service available through the moomoo app are offered by Moomoo Financial Canada Inc., a broker-dealer member of Canadian Investment Regulatory Organization (CIRO) and Canadian Investor Protection Fund (CIPF).
[2] The rates provided are for informational purposes only and may not represent the complete range of available rates. It is possible that you may discover rates that are more favorable than those presented in this comparison. (For information on moomoo CA's Rates and Pricing, please visit：https://www.moomoo.com/ca/pricing)
