Moomoo trading platform seeks to democratize investing using AI – AI

Australian retail investors are hungry for information and education according to Andrew Rogan, marketing director of equity trading platform Moomoo.

Wholly-owned Fujitsu launched in Australia earlier this year, and Rogan told Digital Nation Australia that its mission was to “democratize equity investing”, using education tools to AI.

According to user research, Rogan said: “Australian investors were looking for a lot more support, information and advice to help inform those trading decisions. And it showed them that they were in fact particularly independent thinkers.

“Nearly every active trader we spoke to said they relied heavily on research, news, financial reports, books, forums, social media and other well-known financial experts to inform these decisions and form their own opinion on what to buy or what to buy. Trade.”

Moomoo differentiates itself from other low-cost new entrants to the trading platform market by offering users professional-level educational tools at low or no cost, he said.

The platform offers news and information from sources such as the Dow Jones, Bloomberg and NASDAQ, as well as surface data from news sources such as Yahoo Finance and the Motley Fool according to Rogan.

The organization operates three distinct functions based on AI algorithms which are available in the app.

AI Similar Stocks is a tool that helps users find stocks that match their interests by recommending stocks that are trending globally as well as similar stocks to the user’s watchlist or history of research.

“It works the same way Netflix works by recommending programs you’d like to watch based on your past behavior,” he said.

Rogan describes the AI ​​Forecast tool as a “sophisticated pattern matching algorithm” that queries stocks on Moomoo’s markets based on their historical price movements.

“It basically helps our clients look at companies that they might not otherwise have considered. And it creates potential for them to invest in stocks, which perform as well, potentially, as other stocks in which they have invested.

AI Monitor is the third tool used by Moomoo to monitor the markets and alert users to unexpected or abnormal activity.

“It reduces the need for customers to go in and set up their own individual alerts, which they can also do through the Moomoo platform and perhaps complement each other well.”