Moomoo Canada Launches Canadian Stocks Trading: Empowering Investors with Free LEVEL 2 Market Data

TORONTO, Nov. 14, 2023 /CNW/ -- Moomoo, the one-stop digitalized stock trading platform, announced its online trading for Canadian stocks. Starting from the end of October, investors in Canada can trade both U.S. and Canadian stocks on the moomoo app.

Starting from the end of October, investors in Canada can trade both U.S. and Canadian stocks on the moomoo app.

*Images provided are not current and any securities are shown for illustrative purposes only and are not recommendations.

One of the key features of the moomoo app is the synchronization of data, providing investors with detailed 60-market-depth "bids" and "asks" information about the order book of Canadian stocks. Moomoo provides Canadian investors with free Level 2 market depth, which usually charges C$4.95-44.95 on other platforms. The free market data offering helps investors align with updated market information and empowers them to make more informed trading decisions.

In late September this year, moomoo offered U.S stocks for Canadian investors to trade. In addition to expanding access to Canadian stocks, moomoo has extended trading hours from 8:00 a.m. to 5:00 p.m., offering 1.5 extra trading hours than most Canadian brokerage firms, which typically operate from 9:30 a.m. to 5:00 p.m. The extension is expected to attract more traders, increase market liquidity, and reduce trading costs and slippage.

Steve Zeng, Head of Global Strategy of Moomoo Technologies Inc. said, "While Canadian stock trading isn't new for investors, the trading experience stands poised for a remarkable transformation. We offer market depth quotes, reveal the order book of the exchange, and provide depth charts and extended trading hours as evidence. Continual innovation and distinctive features in Canadian stock trading stand as a testament to our commitment to benefit Canadian investors, elevating and enhancing their trading experience."

Moomoo also lauched its unquie community service - Moo community - for investors in Canada last month to better enhance trading experience. Together with other five sister brands around the world, Moo community offers a platform for investors to connect and grow. As of 30 June, 2023, over 1,100 companies, including Nasdaq, SGX and Tesla,  have joined the community by lanching their official accounts. The community also accommendates over 1,000 financial influencers who share their trading experience within the community. In total, discussions on trading and investment have surpassed over nine million on the company's global Moo community.  

The Canadian stock market plays a vital role in the country's economy, and moomoo recognizes the importance of meeting the needs of Canadian investors.

According to TMX Group's 2023 Consolidated Trading Statistics, there are approximately 8.97 million Canadian stock traders with a trading value of around C$335.16 billion. Moomoo aims to provide Canadian investors with a wider range of investment choices and a premium user experience.

Vanguard Investments Canada, a global leader in asset management, highlights Canadians' interest in investing in national stocks. Investing in domestic stocks allows investors to access domestic companies more easily and reduces exposure to foreign currency risk and exchange rate fluctuations.

Global Asset Allocation with Free Market Depth 

The Futu Holdings Limited, moomoo's parent company, emphasizes the importance of global asset allocation in its 2023 H1 Investment Report. By diversifying allocations across different economies, investors may potentially reduce risk. Monitoring global factors and trends is crucial for understanding and responding to market changes. Moomoo's market depth feature empowers investors to optimize their global asset allocation strategy.

LEVEL 2 market depth provides real-time, detailed insights into the supply and demand dynamics of financial instruments such as stocks and futures contracts.

With access to the order book and visual representations like depth charts, traders can better understand market sentiment, trading activity, and support and resistance levels. This enables investors to interpret and analyze supply and demand dynamics, identify patterns, assess liquidity, and make more informed trading decisions.

The market depth feature is available on moomoo and its sister brand in seven markets: U.S., Singapore, Australia, Japan, Malaysia, Canada and Hong Kong SAR.

About moomoo

Moomoo is a next-generation one-stop digitalized financial services platform powered by Moomoo Technologies Inc., a fintech company based in Palo Alto, California.

Moomoo integrates trading, market data, and social networking with advanced features, such as anomaly detection functions. It supports free online account-opening and provides access to trade stocks and ETFs in multiple global markets such as the United States, Hong Kong SAR, Singapore, and Australia. Moomoo and its brand affiliates also offer rich investor education content and an interactive online community with over 20 million users in more than 200 countries and regions globally.

For more information, please visit moomoo's official website at www.moomoo.com or contact [email protected].

SOURCE Moomoo