Singapore investors keep funds with Moomoo, Tiger Brokers, Longbridge amid China curbs

Published Fri, Jun 5, 2026 · 08:33 PM

[SINGAPORE] Users of Moomoo, Tiger Brokers and Longbridge Securities in Singapore are staying put with these digital brokerages even as their parent groups – all with deep Chinese fintech roots – are targeted in Beijing’s latest drive to stem capital outflows.

In late May, New Zealand-registered Tiger Brokers, Hong Kong-registered Longbridge and Futu, which owns Moomoo, were fined a total of more than US$330 million for conducting cross-border securities business by serving mainland Chinese investors without the required licences.

The three digital brokerages are popular with many users in Singapore as they offer commission-free or low-fee trading, as well as features-rich user interfaces and easy access to multiple markets on their apps.

Chloe Teo, who has been trading using Moomoo and Longbridge apps, is among the Singapore users who told The Straits Times that they are not moving their funds.

The 35-year-old realtor and content creator said she feels assured as the Singapore entities of these brokerages are regulated by the Monetary Authority of Singapore (MAS), and customer funds are kept separate from the brokerages’ assets.

“For Longbridge, its custodian bank is DBS, so I feel quite safe,” Teo added.

Everic Long, a Moomoo user, also said he is not rushing for the exits although there could be some risks.

“If a broker fails, client assets should not form part of the broker’s assets available to creditors. However, it is not something that can be verified by end users,” the 34-year-old assistant manager said.

“It would be important for one to assess the risks based on his or her risk appetite.”

SEE ALSO

An MAS spokesperson confirmed that the Singapore entities of Moomoo, Tiger Brokers and Longbridge are “financially independent” of related group entities in Hong Kong and other jurisdictions subjected to Chinese regulatory action.

The Singapore entities also hold capital markets services (CMS) licences, and are required to deposit their customers’ money or assets into a trust or custody account that must be segregated from their own funds and assets.

“This means that customers’ monies and assets are kept safe and separate from the licensee’s own funds, and cannot be used to meet the licensee’s own liabilities,” said MAS.

The spokesperson added that MAS is following up with the three entities to reinforce the expectation of high standards of conduct and compliance.

Moomoo had said it has over 1.5 million users in Singapore as at July 2025.

Tiger Brokers said it has over 2.3 million funded account holders. According to estimates by Bloomberg Intelligence, Singapore accounted for 41 per cent of paying clients at UP Fintech, Tiger’s US-listed parent company, in 2025.

Longbridge said its global user base increased by 120 per cent in 2025 from a year ago, but did not disclose its number of users in Singapore.

ST has contacted all three brokerages for comment.

All three had earlier assured users in Singapore that business continues as usual.

When asked if Singapore users should be worried, Nirgunan Tiruchelvam, head of consumer and internet at investment advisory firm Alētheia Capital, said the issue at hand is the Chinese authorities’ crackdown on offshore entities that serve mainland Chinese investors.

“It actually does not in any way impinge on the ability of the Singaporean customers to trade on these platforms,” he told ST.

Fintech consulting firm GL Insight director Zennon Kapron said the current crackdown is primarily about China’s capital controls as it seeks to close a loophole where foreign-registered digital brokerages could solicit and onboard mainland Chinese investors without specific local regulatory approval, while also closing channels that allowed investors to move capital into overseas markets outside China’s approved frameworks.

“The bigger question is the long-term business impact on the brokers rather than whether Singapore clients can access their money tomorrow,” he added.

If the regulatory pressure on Futu, Tiger Brokers or Longbridge materially affects their business, Singapore users would most likely notice it through reduced promotions, higher fees, tighter margin terms, slower customer service, or fewer new features, he noted.

But in an insolvency scenario, Kapron said client assets are generally not supposed to form part of the broker’s assets. Getting them back, however, is not always immediate.

“If holdings are properly segregated as regulations require, they may be transferred to another broker or returned directly. The liquidator will typically contact clients, but investors should not assume that happens automatically – filing a claim or providing documentation may still be required,” he noted.

Timelines vary widely, from weeks for a straightforward transfer to months or even years for a complex liquidation involving overseas custodians or disputed assets, he added. THE STRAITS TIMES