Moomoo launches in New Zealand, offering US trades from USD $0.99
A new trading platform has launched in New Zealand, aiming to reduce barriers for local investors accessing US share markets by offering the lowest fees available for unlimited US trades and providing access to a broad range of stocks and exchange-traded funds.
Founded in Silicon Valley in 2018, moomoo has expanded its presence globally, reaching over 25 million users across markets including the United States, Singapore, Australia, Japan, Canada, Hong Kong and Malaysia.
This entry into the New Zealand market comes after moomoo's recent expansion into Australia, where it achieved the highest number of online broker app downloads within its first two years of operation.
Investors in New Zealand now have the opportunity to trade more than 22,000 stocks and ETFs listed on markets in the United States, Australia, and Hong Kong. The platform offers more than 15,000 US stocks and ETFs at a fee of USD $0.99 (NZD $1.66) per trade.
Michael McCarthy, Chief Executive Officer for moomoo Australia and New Zealand, said the platform was developed to democratise access to global markets for investors of all experience levels.
"One of the unique features of moomoo is its ability to enable 'social investing', whereby the online community of global users are able to support and learn from one another, including sharing investing ideas and insights on stocks," McCarthy said.
"This allows everyone from beginners to seasoned investors to learn investment strategies and share this experience with other users around the world. We also offer structured learning experiences and additional educational resources to assist users on their investment journey."
McCarthy noted that these resources are targeted at helping investors track market trends, identify opportunities and make investment decisions that reflect their individual risk preferences and financial objectives.
He added that the platform provides 24-hour US trading on every trading day, removing key time zone barriers for New Zealand investors and enabling access to US markets at any hour.
"New Zealand has a strong investing culture, and we see growing demand for innovative, sophisticated tools that empower retail investors to navigate global markets with confidence," McCarthy said.
"We are able to provide real-time market data, AI-powered analytics, advanced charting tools, and curated news from top-tier financial media outlets. These features transform the complexity of financial markets into intuitive, actionable insights, seamlessly integrated into the platform's user-centric interface."
As part of its launch, moomoo is offering new users in New Zealand commission-free trading on Australian and US stocks for their first 30 days. Additional incentives include free reward stocks for users following eligible deposits.
The moomoo app allows New Zealand investors to access features such as options trading and dividend reinvestment plans for US-listed shares, aiming to cater for a diverse range of investment strategies and needs.
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