On May 22, according to Futu's Q4 2025 financial report, as of December 31, 2025, the total customer assets on the Futu platform reached HKD 1.23 trillion (approximately USD 158.4 billion). Additionally, a report on Futu released by China Merchants International on March 16 of this year indicated that analysts from the bank stated that over 80% of the customer assets on the Futu platform are from the Greater China region. If the user funds on the Futu platform remain unchanged (showing little variation from Q3 to Q4 last year), then in the ongoing serious crackdown by the China Securities Regulatory Commission on illegal cross-border operations, the user funds affected and potentially withdrawn from Futu alone would amount to at least approximately USD 126.7 billion (with a two-year rectification period for cleaning up existing businesses). If calculated at the same level, the affected user funds at Tiger Brokers (with an AUM of USD 60.8 billion in the Q4 2025 report) could be approximately USD 48.6 billion. Thus, the total affected user funds at both Futu and Tiger Brokers in this incident could reach approximately USD 175 billion.
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Futu and Tiger Brokers Users' Funds at Risk of Withdrawal May Reach $175 Billion
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