We’re sorry, this feature is currently unavailable. We’re working to restore it. Please try again later.
This was published 3 months ago
At the height of the pandemic, a study by Investment Trends found the number of new investors surged, with 1.25 million active online traders in Australia.
The research suggests that Australians – particularly the under 40s – are taking charge of their financial destiny and investing directly in their own shares.
Aussie investors are taking charge of their financial destiny.Credit:iStock
While there’s a plethora of information available for share market investors, the problem is that a lot of it isn’t very reliable or useful.
This makes it really difficult for new investors to know what to look for when they start buying stocks.
Australia’s hottest new trading platform moomoo aims to address the gap by using artificial intelligence to provide investors with essential information in an accessible form.
Andrew Rogan, moomoo’s Australian marketing director.Credit:moomoo
It provides them with the information they require at a single location and in an easy-to-understand form. Owned by Nasdaq-listed Futu Holdings Ltd, moomoo recently entered the Australian market and has 18 million users globally.
“The research we completed showed Australian investors were looking for an all-in-one platform which combined information and data to help inform their investment decisions, with the tools to act on those decisions, and then place a trade quickly and easily,” says moomoo’s Australian marketing director Andrew Rogan.
“Almost all the traders we interviewed said they rely on research of news, financial reports, books, forums, social media or well-known financial experts to inform themselves to formulate their own opinion on what to buy or trade.”
“AI is an effective way for us to support this as it allows us to present information in a very contextual and familiar way for clients. This helps the information not only make more sense to users but also lessens the need for clients to proactively go and seek out that information themselves.”
The platform offers a range of unique AI tools developed by moomoo which give retail investors access to insights that are not available on even professional platforms.
One such tool is AI Similar Charts, which presents stocks moomoo’s clients may like to consider based on what’s trending globally, the shares in their watchlist, and the companies they’ve researched through the platform.
“It looks at ‘intervals’ to find companies that have had a similar historical price progression and a similar future price projection,” says Rogan.
“This can help investors look at companies they may otherwise not have considered, creating the potential for them to invest in stocks which may perform as well as stocks they’ve already invested in.”
Rogan likens it to the customer-driven AI that powers digital streaming platforms such as Netflix, which serves movies and TV shows the viewer might like based on their previous selections.
For instance, if an investor has invested in Telstra or researched the stock, then AI Similar Charts will serve a stock which is behaving in a similar way in the market.
“It may or may not even be in the same industry. It’ll just be a stock that has similar historical fundamentals and performed in a similar fashion historically to Telstra,” Rogan says. “It gives the investor an opportunity to go and investigate that.”
AI Monitor constantly screens the market for abnormal activity and automatically alerts users so they can consider whether they need to take action.
“While AI is important, it doesn’t do the trading on behalf of investors and they will have to make their own decisions on stock selection,” Rogan says.
“Our AI-powered insights reduce the need for clients to setup and manage their own individual alerts, or go and dig for the information on the internet,” he says.
“It’s all about surfacing information that investors need without them having to do the groundwork that they would historically have had to do, and in a contextual way.”
Moomoo offers news and information from leading global sources such as Dow Jones, Bloomberg, Nasdaq and Benzinga.
It also aggregates and serves contextually relevant data from 26 prominent Australian news services such as Yahoo Finance and The Motley Fool.
Moomoo and its AI tools aren’t just for first time traders – the platform has over 100 different charts and indicators for investors to use.
“The tools and features stretch right up to advanced and active traders – they benefit from all the same tools as entry-level traders, just in different ways,” Rogan says.
Moomoo is Australia’s hottest new share trading platform for active traders.
In Australia, securities services in moomoo are offered by Futu Securities (Australia) Ltd (AFSL 224663) regulated by ASIC.
Copyright © 2022