Futu Holdings

Retail investors in Hong Kong and, increasingly, Singapore, the US and Japan trade stocks through Futu Holdings, which runs the Futubull and Moomoo apps. Founded in 2012 and backed early by Tencent, the company built a slick mobile brokerage aimed first at Chinese investors buying Hong Kong and US shares, then expanded abroad as regulatory pressure at home pushed it to diversify. It earns money from trading commissions, interest on client cash and margin lending, and a widening menu of wealth-management products. Futu's user base skews young and active, which makes its results sensitive to market sentiment and daily trading volumes. Its overseas push is the growth engine and the main uncertainty, since each new market brings its own licensing hurdles and established local competitors fighting for the same accounts.

On MyRWA, FUTU trades tokenized across 8 on-chain venues - see the listings below.