Moomoo Singapore is offering 24-hour, five days a week trading for over 100 US stocks and exchange-traded funds (ETFs) at zero commission.
The feature aims to level the playing field for retail investors to engage in round-the-clock trading of both US securities and ETFs at times that are convenient to them.
With the launch, retail investors can capitalise on short-term price movements and trade without needing to adhere to US time zones.
According to Moomoo Singapore’s latest trading data, 26.5% of US stocks trades on the platform this year as at end May are placed after-hours, equivalent to 19.6% of the total trading volume.
In the first quarter, Singapore investors gained more appetite for US mega-cap tech stocks, with Tesla, Apple, Nio, Amazon and Alibaba being the top-traded stocks by transaction volume, the platform finds.
“We have observed a strong interest among our local investors in round-the-clock trading of US securities, and we have responded. I hope they can now catch up on some sleep and capture opportunities at their preferred hours,” says Moomoo Singapore managing director Gavin Chia.
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The company continues to serve Singapore’s appetite for investing, with average client assets up 22% q-o-q in 1Q2023.
