Futu was founded in 2007 by Leaf Li, an ex-Tencent alumn. The company is in the business of digitized brokers and wealth management in China. They founded a subsidiary called Moomoo in order to target overseas markets such as Singapore and the US. Moomoo was then launched in the US and Singapore in 2021. 

After the wave of criticism that rained upon Robinhood (the trading platform) during the GME saga, retail investors sought alternative trading platforms. The rise of the likes of WeBull and Moomoo is in big part due to this. But what caused Robinhood to turn its back on its most loyal customers? Why are digitized brokers and trading platforms on the rise? 

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