Futu

Futu Holdings Limited (Chinese: 富途控股) is a Cayman Islands-incorporated financial technology holding company headquartered in Hong Kong. Through its subsidiaries, it provides online securities brokerage, margin financing and securities lending, wealth management, and corporate and institutional services. Its main digital platforms are Futubull, used primarily in Hong Kong, and Moomoo, its international platform. Its ADR have traded on the Nasdaq since March 2019. Futu's brokerage business was founded in Hong Kong in 2012 by Leaf Hua Li, an early employee of Tencent, which later became a major shareholder. The group began expanding outside Hong Kong in 2018, with Moomoo becoming the main platform for its international operations. At the end of 2025, Futu had 3.37 million funded accounts and HK$1.23 trillion (US$158.4 billion) in client assets. Futu's historical cross-border brokerage business serving mainland Chinese investors drew a public warning from the China Securities Regulatory Commission (CSRC) in 2016 and became the subject of direct regulatory action beginning in 2021. In December 2022, the CSRC ordered Futu to stop soliciting new mainland clients and opening new accounts. In May 2026, the CSRC opened a formal investigation and proposed penalties totaling approximately RMB1.85 billion (US$271 million) as part of a broader campaign against unlicensed cross-border financial services. Affected mainland clients were subsequently restricted from making new investments during a two-year transition period.