TechFlow News, May 22: According to Futu’s Q4 2025 financial report, as of December 31, 2025, total client assets on the Futu platform amounted to HK$1.23 trillion (approximately USD 158.4 billion). Additionally, a Futu report released by China Merchants Securities International on March 16 this year states that analysts at the bank noted that clients from Greater China still account for over 80% of Futu’s total client assets. Assuming client fund volumes on the Futu platform remain unchanged (Q4 2025 was nearly flat compared to Q3 2025), then in the China Securities Regulatory Commission’s recent stringent investigation and crackdown on illegal cross-border business operations, only Futu—among those subject to rectification (with a two-year transition period for winding down existing operations)—would see at least approximately USD 126.7 billion in affected client funds required to be withdrawn.
Applying the same calculation methodology, Tiger Brokers—which reported AUM of USD 60.8 billion for Q4 2025—could face withdrawal of approximately USD 48.6 billion in affected client funds. Thus, the total affected client funds potentially subject to withdrawal across both Futu and Tiger Brokers in this incident would amount to approximately USD 17.5 billion.
