Australian trading app moomoo launches free 24-Hour US Trading, a first in Australian market
moomoo, the AI-powered Australian trading app, has announced the introduction of 24-hour US trading, enabling investors to trade selected US stocks and ETFs 24 hours a day, five days a week. This move, a first in the Australian market, marks a significant expansion of the technology platform’s capabilities and opens new opportunities for investors who want to trade outside of Australian trading hours.
With the introduction of 24/5 US trading, moomoo users now have access to trading hours that cover the entire day, from 10am Monday to 10am Saturday (AEST). This means that investors in Australia will be able to trade a list of 165 US stocks and ETFs during Australian daytime hours, as well as night. This move will provide more flexibility for investors and allow them to take advantage of market-moving events that occur outside of Australian trading hours.
“When investing in US markets from Australia, some old-school brokers make you place your orders by 11am or 2pm, and then you wait until the next day to see whether you have traded. Lots of things can happen during that time and you can miss big market moves,” explains moomoo Australia Chief Market Strategist Matt Wilson.
“Moomoo has access to market makers that provide live prices 24 hours a day, five days a week. So, you can take advantage of market moves during Australian hours and while the US is asleep. You get instant trade confirmation, without the need to wait 24 hours to see whether you have dealt or not.”
The expanded trading hours affords moomoo users greater access to the US markets, which is critical for those looking to diversify their portfolios, manage risk robustly and take advantage of opportunities in global markets.
“Australia makes up less than 2 per cent of global equity markets, so if you are limiting your investment horizon to local stocks you are missing out on a lot of investment opportunities,” Wilson says.
“Investors love stocks they are familiar with and that’s why it’s important to have access to some of the world’s most well-known brands like Apple, Google, Meta (Facebook), Amazon, Tesla, Disney, Microsoft and Nvidia, as an example. These stocks are powerhouses driving the global economy, so why not invest in them?”
Moomoo is committed to improving the financial literacy and wealth of Australian investors of all experience levels by providing users with free access to advanced technology and educational resources.
24/5 trading for selected US stocks and ETFs is available on moomoo Australia now.