Moomoo Financial Singapore, an investment platform and wholly owned subsidiary of Futu Holdings, has partnered with online money transfer service Wise to offer its users a cost-effective and faster way to deposit money into their trading accounts.
Singapore users can now choose to deposit through Wise which enables them to convert their local currency to Singapore Dollars at the real mid-market exchange rate, enabling them to save more money on transfer fees.
Additionally, users will also able to see the real mid-market exchange rate as reflected on the Bloomberg Index, Google and Yahoo Finance websites.
Moomoo Singapore is an all-in-one brokerage that allows users to invest in stocks (US markets, SGX, HKEx, SH-HK Stock Connect and SZ-HK Stock Connect), mutual funds, bonds, exchange traded funds and U.S. options through the moomoo app.
Gavin Chia, Managing Director, Moomoo Singapore said,
“We’re committed to providing an easy-to-use, seamless platform for users to manage their portfolios across multiple markets.
Our partnership with Wise will enable both existing and new Singapore moomoo users access to fast transfers and lower transaction fees, allowing them to take advantage of timely trades and better manage their wealth.”
Dan McCarthy, Head of Partnerships, Asia Pacific, Wise Platform said,
“We are thrilled to partner with Moomoo Singapore to provide users with greater visibility and control over their personal finances, where they can now see exactly how much they are paying to fund transfers from their linked Wise accounts, without worrying about hidden fees in inflated exchange rates or dealing with slow transfers.”