Futu Posts 33% YoY Jump in Trading Volumes during Q3

Futu Holdings today released its unaudited financial results for the third quarter of 2021. During the mentioned period, the brokerage reported total trading volumes of $173.5 billion, a substantial jump of 33.1% compared to the same period in 2020.

Revenues reached $222.4 million, which is 83% higher compared to Q3 2020. Non-GAAP adjusted net income increased 58.5% year-over-year to $83 million. The company’s international users touched 16.6 million, an increase of 58.6% compared to the third quarter of 2020.

Due to Futu’s recent global expansion efforts, the broker onboarded several new clients. The total number of registered clients increased 119.9% year-over-year to 2,580,002. On the other hand, the total number of paying clients increased 179.2% year-over-year to 1,167,204.

“Futu’s global expansion further expedited in the third quarter. In Singapore, Futu officially launched fund products in the quarter and continued to expand the categories of trading products to meet the diversified investment needs of Singapore clients. Meanwhile, Futu is dedicated to investor education in Singapore and has invested substantial resources. During the quarter, 249 new videos and infographics were produced, covering 40 courses and topics,” Futu mentioned.

Hong Kong

Futu has a strong presence in Hong Kong. During the first three quarters of 2021, almost 70% of the company’s net increase in paying clients were from Hong Kong and Singapore. The third quarter saw a sharp increase in Hong Kong-based clients and registrations.

“Futu’s market penetration rate in Hong Kong has been rising steadily. According to the latest population statistics from the Census and Statistics Department, Futu’s number of users now account for about one-third of Hong Kong’s adult population and continues to reinforce its status as an industry leader. Per the open data, Futu’s monthly market share in Hong Kong stock trading has exceeded the lower limit of the market share range of Category A SEHK Participants since July 2020. Therefore, it can be reasonably deducted that Futu has entered the ranks of Category A SEHK Participants,” the company added.

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