Online trading platform moomoo has appointed Michael McCarthy as the new Chief Commercial Officer of its Australian subsidiary, Moomoo AU.
A well-known commentator in the Australian financial markets, Michael McCarthy brings over four decades of industry experience and leadership to the role.
Michael McCarthy was Chief Market Strategist at CMC Markets
Michael McCarthy joins Moomoo AU from Number13Black, where he was Trader/Director, but he is mostly known for his prior roles as Chief Strategy Officer at Tiger Brokers (AU) and Chief Market Strategist at CMC Markets.
The new CCO of moomoo AU is a trading, communications, and education professional, involved in profitably trading, dealing, and managing FX, interest rate, commodity, and equity markets since 1983, with a specialization in derivatives since 1993. McCarthy is a former AOM market-maker and SFE registered representative who has held ASXD level II accreditation and series 7 license from SEC NY. He is ASIC accredited RG146 (Financial Advisor) and RG105 (Responsible Manager).
He’s been a regular on ABC Newsradio, BBC, Bloomberg, ChannelNewsAsia, Nine, SBS, SKY, and TEN.
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“Advancing financial literacy and market understanding”
“In my extensive career, I’ve seen many investors feel overwhelmed by the sheer volume of information available on companies and stocks. The internet is brimming with data, but knowing where to look and how to interpret it is a daunting task. AI technology allows us to present information in a way that is both contextual and user-friendly, making it easier for investors to navigate and make informed decisions,” McCarthy commented. “Moomoo’s innovative platform and dedication to customer success resonate with my own commitment to advancing financial literacy and market understanding. I look forward to working with the talented team at moomoo to drive growth and deliver exceptional value to our clients in Australia.”
McCarthy will report to Biyi Cheng, Head of moomoo Australia. “Michael’s dedication to investor education aligns perfectly with moomoo’s commitment to empowering traders through knowledge,” Cheng stated. “Michael’s strategic insights and leadership have consistently delivered exceptional results, making him the ideal choice to helm moomoo’s local operations.”
As Chief Commercial Officer, McCarthy will be responsible for leading moomoo’s strategic direction, market expansion, and customer engagement across the region. Moomoo leverages artificial intelligence to provide an intuitive investing experience suitable for both beginners and experienced traders. The platform has gained significant popularity over the past two years, indicating a critical market need for comprehensive yet manageable trading options.
Moomoo Australia now directly linked to ASX
Earlier this year, Moomoo AU initiated CHESS-sponsored trades, enabling Australian investors to directly access and own shares on the Australian Securities Exchange (ASX) with minimal trading fees starting from AUD $3 per trade.
CHESS, the Clearing House Electronic Subregister System used by the ASX, provides a secure method of managing shareholdings and transactions. Moomoo’s integration with CHESS sponsors adds an extra layer of security for client assets, in addition to existing measures like client funds segregation and SIPC insurance for US assets.
Moomoo’s offering in Australia includes access to over 22,000 shares and ETFs across Australia, the US, and Hong Kong markets, along with competitive trading fees and a suite of professional-level features and tools. The platform also offers AI-powered capabilities, access to global news, and free investment courses, aiming to cater to investors across all levels.
