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Futu's Account Push: Can It Reach 800,000 New Funded Clients?
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Key Takeaways
Futu added 225,000 funded accounts in Q1, lifting its total to 3.59 million, up 34.3% year over year.
Futu needs about 575,000 more funded accounts this year, with Q2 growth expected to stay stable from Q1.
Malaysia and Hong Kong led Q1 account additions, while Moomoo held over 55% of group-funded accounts.
Futu Holdings’ (FUTU - Free Report) account story still has momentum, but 2026 will test how broad that momentum really is. In the first quarter, the company added 225,000 net new funded accounts, taking the total to 3.59 million. This was a 34.3% jump from a year earlier and kept management comfortable with its full-year goal of 800,000 additions.
The target now depends on steady delivery. After the first quarter, Futu needs about 575,000 more funded accounts across the rest of the year. On the earnings call, management said second-quarter net new funded accounts are expected to remain stable from the first quarter, which would keep the target within reach.
That push is being supported by a wider geographic mix. Malaysia and Hong Kong together contributed more than half of the first-quarter net new funded accounts. Singapore delivered double-digit sequential growth, while Japan saw stronger U.S. stock and options activity. Futu also said more than 55% of group-funded accounts were under Moomoo, its overseas brand.
Futu’s user base is growing alongside higher activity. Total users rose 14.9% to 30.2 million, brokerage accounts climbed 26.8% to 6.28 million, and client assets increased 47.2% to HK$1.22 trillion. Trading volume hit HK$4.15 trillion, with U.S. stocks at HK$3.00 trillion and Hong Kong stocks at HK$1.01 trillion.
Still, regulation remains a watch point. Futu booked a proposed RMB1.85 billion CSRC penalty, which pushed net income down 61.2% to HK$831 million (US$106.0 million). Management said mainland China-funded accounts represented about 13% of funded accounts, around 17% of client assets and roughly 20% of revenues. Still, S&P reaffirmed Futu’s BBB- rating with a stable outlook, and management said the issue should not derail its 800,000-account guidance.
How Are Interactive Brokers and Robinhood Growing?
Interactive Brokers (IBKR - Free Report) kept adding clients at a fast clip. In May 2026, Interactive Brokers reported 4.995 million client accounts, up 32% year over year and 3% from April. For Interactive Brokers, that growth came with $937.3 billion in client equity and $100.9 billion in margin loans, signaling deeper client engagement overall.
Robinhood Markets (HOOD - Free Report) remains a large retail name by funded customers. HOOD reported 27.7 million funded customers at May-end, up 1.76 million year over year, with total platform assets of $377 billion. For Robinhood, $5.6 billion of May net deposits and stronger equity/options volumes show accounts are active.
FUTU's Price Performance, Valuation and Estimates
Shares of Futu have declined 31% over the past three months against the industry’s growth of 8.7%.
Image Source: Zacks Investment Research
From a valuation standpoint, FUTU trades at a forward 12-month price-to-earnings of 9.85, below the industry and also lower than its one-year median of 16.15. This valuation disparity might not be as favorable as it seems. It carries a Value Score of C.
Image Source: Zacks Investment Research
Over the past 30 days, earnings estimates for both 2026 and 2027 have been revised downward, signaling a bearish outlook from analysts.
Image Source: Zacks Investment Research
At present, Futu carries a Zacks Rank #5 (Strong Sell).
View the Zacks #1 Rank List
Image: Bigstock
Futu's Account Push: Can It Reach 800,000 New Funded Clients?
Key Takeaways
Futu Holdings’ (FUTU - Free Report) account story still has momentum, but 2026 will test how broad that momentum really is. In the first quarter, the company added 225,000 net new funded accounts, taking the total to 3.59 million. This was a 34.3% jump from a year earlier and kept management comfortable with its full-year goal of 800,000 additions.
The target now depends on steady delivery. After the first quarter, Futu needs about 575,000 more funded accounts across the rest of the year. On the earnings call, management said second-quarter net new funded accounts are expected to remain stable from the first quarter, which would keep the target within reach.
That push is being supported by a wider geographic mix. Malaysia and Hong Kong together contributed more than half of the first-quarter net new funded accounts. Singapore delivered double-digit sequential growth, while Japan saw stronger U.S. stock and options activity. Futu also said more than 55% of group-funded accounts were under Moomoo, its overseas brand.
Futu’s user base is growing alongside higher activity. Total users rose 14.9% to 30.2 million, brokerage accounts climbed 26.8% to 6.28 million, and client assets increased 47.2% to HK$1.22 trillion. Trading volume hit HK$4.15 trillion, with U.S. stocks at HK$3.00 trillion and Hong Kong stocks at HK$1.01 trillion.
Still, regulation remains a watch point. Futu booked a proposed RMB1.85 billion CSRC penalty, which pushed net income down 61.2% to HK$831 million (US$106.0 million). Management said mainland China-funded accounts represented about 13% of funded accounts, around 17% of client assets and roughly 20% of revenues. Still, S&P reaffirmed Futu’s BBB- rating with a stable outlook, and management said the issue should not derail its 800,000-account guidance.
How Are Interactive Brokers and Robinhood Growing?
Interactive Brokers (IBKR - Free Report) kept adding clients at a fast clip. In May 2026, Interactive Brokers reported 4.995 million client accounts, up 32% year over year and 3% from April. For Interactive Brokers, that growth came with $937.3 billion in client equity and $100.9 billion in margin loans, signaling deeper client engagement overall.
Robinhood Markets (HOOD - Free Report) remains a large retail name by funded customers. HOOD reported 27.7 million funded customers at May-end, up 1.76 million year over year, with total platform assets of $377 billion. For Robinhood, $5.6 billion of May net deposits and stronger equity/options volumes show accounts are active.
FUTU's Price Performance, Valuation and Estimates
Shares of Futu have declined 31% over the past three months against the industry’s growth of 8.7%.
Image Source: Zacks Investment Research
From a valuation standpoint, FUTU trades at a forward 12-month price-to-earnings of 9.85, below the industry and also lower than its one-year median of 16.15. This valuation disparity might not be as favorable as it seems. It carries a Value Score of C.
Image Source: Zacks Investment Research
Over the past 30 days, earnings estimates for both 2026 and 2027 have been revised downward, signaling a bearish outlook from analysts.
Image Source: Zacks Investment Research
At present, Futu carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.