USmart - The new kid in town

What's a uSmart?

uSmart was founded in 2018 and are headquartered in Hong Kong. They are similar to the likes on recent brokerages that entered Singapore such as Tiger or Moomoo brokers with a similar UI and easy to use interface.

uSMART Singapore received Capital Market License (CMS) from MAS in December 2021 and by April, their app was up and have a very easy to use interface!

Similar to other online brokerages in the region, uSMART app offers global markets like US, SG and HK and products like stocks, ETFs, and US options.

How to uSmart?

To start, uSmart is available on both iOS and Android and is currently only available via a mobile app interface only. They have SingPass/MyInfo integration so opening an account and getting your details verified was a breeze due to the strong integration of your personal details required. There are 2 account types that are offered by uSmart to individuals, namely the uSmart Trader and uSmart Standard.

Both have low fees however only uSmart Standard users are eligible for a welcome gift package which will be covered later on.

uSmart allows users to trade stocks with low fees and the fee breakdown is as shown below.

uSMART offers the lowest rates compare to other online brokerages available in the market. To add on to its already low fees, uSMART is currently running a promotional rate of no minimum fees for Singapore equities.

How to deposit funds?

uSmart allows users to deposit multiple currencies from SGD to USD. With SGD deposits, you can choose from PayNow, FAST and even Giro to deposit your funds. Funds arrive within an hour and you'll be able to start trading once the funds have cleared.

User Interface

The User Interface is similar to Chinese trading apps with tabs on Learning as well as 'Financial Education'. On top of that, there is also a section for Market News so you can keep up to date with your stocks as well as the broad market in general.

How Safe is it?

uSmart is regulated by the MAS and your funds are kept in a Custodian account and their team consists of people from Alobaba, Tencent and even Godlman Sachs. However, nothing is guaranteed so do your own research before embarking with any platform. But that being said, to get MAS regulation isn't easy and uSmart managed to do it!

Sign Up Rewards

New Users who sign up with a referral link are entitled to a lot of sign up rewards that is worth up to $700!

New users who sign up receive a $15 cash voucher which can be used to offset your trades and those users that deposit a minimum of $2,000 SGD worth will receive either 0.1 of a Tesla Share or a free Course from uSmart that is worth $720!

If you're interested in a new broker to start your investing journey or just simply here for the freebies, use my referral link below!

https://m.usmartsg.com/promo/overseas/regular-activity.html?ICode=u71k&langType=3&Id=#/