uSMART Group

Overview of uSMART Group

uSMART Group, officially registered as uSmart Holding Ltd., operates as a Hong Kong-based regulated broker since 2018. It is distinguished by a Retail Forex License from the Singapore Monetary Authority. uSMART Group provides a wide range of trading options including US, Singapore, and Hong Kong stocks, fractional shares, various US options, forex, and grid trading. The brokerage uses its proprietary uSmart platform, compatible with iOS, Android, Mac, Windows, and OpenAPI, and supports advanced order types such as TWAP and VWAP, as well as BeeRich App.

Pros and Cons

uSMART Group has established itself as a broker that adheres to the stringent regulatory framework of the Monetary Authority of Singapore (MAS). The broker distinguishes itself by offering advanced and innovative trading options, including grid trading. Furthermore, uSMART Group provides an array of learning resources, supporting traders at different levels of expertise to expand their knowledge and trading skills. The broker's commitment to education is complemented by its customizable Employee Stock Ownership Plan (ESOP) schemes, which are tailored to support corporations in managing employee stock options.

However, the brokerage firm requires a relatively high minimum investment, which may deter smaller investors or those just starting out. Additionally, potential clients might find the services complex, and the broker has received feedback indicating a need for greater transparency regarding spreads, commissions, account types, and the specifics of deposit and withdrawal methods.

Is uSMART Group legit or a scam？

uSMART Group has established its legitimacy and credibility by securing regulation from the Monetary Authority of Singapore (MAS), a regulatory authority acclaimed for its comprehensive and strict financial oversight. The broker holds a Retail Forex License.

Market Instruments

Stocks

• Accessible Global Markets: Offers investors the opportunity to engage in markets across the US, Singapore, and Hong Kong.

• Fractional Ownership: Makes high-value stocks more accessible by allowing purchases of fractional shares.

Options

• Versatile Strategies: Includes a wide range of options strategies such as short selling and grid trading, suitable for sophisticated trading preferences.

Forex and Futures

• Advanced Forex Options: Specifically created for advanced traders, enhancing their trading capabilities.

• Various Futures Trading: Provides a variety of futures options that appeal to experienced traders.

Innovative Trading Methods

• Grid Trading System: Utilizes a systematic approach to buying and selling, which can help in capitalizing on market volatility.

Services

IPO and Equity Capital Market Services

• Comprehensive IPO Assistance: Facilitates the IPO process for companies aiming to list on stock exchanges, with services such as public opinion management and listing announcements.

• Various Refinancing Options: Helps listed companies in restructuring their capital through services like bond underwriting and equity issuances.

Employee Ownership and Financial Reporting

• Flexible ESOP Solutions: Provides customizable employee stock ownership plans along with necessary financial documentation and tax calculations.

• Advanced Reporting Capabilities: Offers intelligent solutions for financial statement disclosures and supports extensive data analysis and visualization.

Asset Management and Advisory

• Sophisticated Management Platform: A tailored asset management system that incorporates essential functions such as product management and unified risk control for institutional clients.

• THAAD Strategic Market Insights: Delivers in-depth market analysis through the THAAD system, enhancing strategic decision-making with real-time data.

How to Open an Account with uSMART Group

To conveniently open an account with uSMART Group, simply:

1. Install the Mobile App: Download and install the uSMART Group app from your respective app store.

2. Quick Registration: Use the 'Instant Registration' feature within the app for a rapid sign-up process.

3. Enter Your Details: Provide necessary personal information such as name, email, and contact numbers in the required fields.

4. Verify Your Email: Confirm your email for security purposes by clicking on the verification link sent.

5. Deposit Funds: Complete the setup by depositing funds using the fast and secure methods available for international investors.

Spreads & Commissions

uSMART Group's fee structure is attractively lean. The broker charges a 0.02% for A-Share transactions and a 0.03% fee for HK Stock trades. An advantageous feature for market players interested in the US market is the zero commission on US Stock trades. Options traders are equally well-served with a charge of only $0.45 per contract and a minimum fee cap at $1.5 per order. Furthermore, participants in IPOs are levied a commission of just 0.03%, with the minimum charge set at an accessible SGD 1.00 per order.

Other Fees

uSMART Group administers a system service fee that is applied annually, running between HKD 50,000 and HKD 100,000, notable for being complimentary in the first year. Moreover, fees associated with management and performance are calculated as a percentage, reflective of each individual client agreement.

The fee architecture of uSMART Group is further detailed by its platform fees. For trades in A-Shares and HK Stocks, the platform imposes a nominal fee of 0.02% CNY and HK$ 0 per order, respectively. US Stock trades are conducted with a platform fee of US$ 0.005 per share, capped at 1% of the transaction's total value, offering a cost-effective solution for traders in the US equities market. Options on US Stocks attract a platform fee of US$0.30 per contract. Participants in IPOs are charged a platform fee of 0.03%, with a floor of SGD 1.88 per transaction.

Trading Platform

uSMART Group's offering is anchored by the uSmart trading platform, delivering comprehensive access across iOS, Android, Mac, and Windows, enhanced with OpenAPI for bespoke integrations. The platform supports advanced trading functionalities including TWAP and VWAP orders, appealing to the spectrum of trader requirements from basic to professional levels.

Complementing the trading tools is BeeRich, an educational platform created to bridge the gap between traders and financial experts. This mobile-friendly platform for iOS and Android is dedicated to fostering financial literacy and proficiency, enabling traders to engage in continuous learning.

Trading Tools

uSMART Group equips its traders with free access to Market Data & US Level 2 Depth, offering a lifetime's worth of real-time market data. This includes a detailed display of up to 60 levels of bids and asks, with real-time quotes refreshing every 0.001 seconds.

Deposit & Withdrawal

uSMART Group has set the minimum investment limit to HK$10,000, allowing clients to engage in transactions in the Hong Kong, US, and A-share markets.

Customer Support

Singapore Contact info

Address: 3 Phillip St, #12-04, Royal Group Building, Singapore 048693

Tel :+65 6303 0663; +65 3135 1599

Email: support@usmart.sg

Hong Kong Contact Info

Address: Room 2606-07, 26th Floor, FWD Financial Centre, 308 Des Voeux Road Central, Sheung Wan, Hong Kong

Tel: +852 9520 4758

Email: cs@usmarthk.com

Educational Resources

uSMART Group's educational offerings are encapsulated in its SMART Features, a comprehensive array of resources devoted to investor education. These features span from Daily Stock Picks to SMART Savings Plans and encompass Advanced Order Types and strategic insights. With an emphasis on multimedia learning, uSMART Group provides clients with video content to demystify investment principles and offer real-time market insights. The platform's extensive investment courses serve as a guide for novices in financial management, addressing a range of subjects from stocks and funds to derivatives, thereby equipping traders with the knowledge to navigate the markets confidently .

Conclusion

uSMART Group stands out with its strong regulatory backing from the Monetary Authority of Singapore. It provides various trading options such as grid trading and a comprehensive suite of educational tools to support traders' growth. Nevertheless, its high minimum investment requirement and the complex nature of its services may be daunting for new and small investors. Additionally, the opacity in its fee structure and account details could hinder users from making fully informed choices.

FAQs

Q: What is the minimum investment to open an account with uSMART Group？

A: To begin trading with uSMART Group, an initial deposit of HK$10,000 is required.

Q: Does uSMART Group hold any regulatory licenses？

A: Indeed, uSMART Group is under the regulatory oversight of the Monetary Authority of Singapore, possessing a Retail Forex License.

Q: What trading facilities are offered by uSMART Group？

A: The brokerage facilitates trading in various markets, including US, Singaporean, and Hong Kong stocks, fractional shares, US options, forex, and advanced grid trading techniques.

Q: Is mobile trading possible with uSMART Group？

A: Yes, mobile trading is supported through uSMART Groups proprietary apps available for both iOS and Android platforms.

Q: What learning resources does uSMART Group offer？

A: uSMART Group enriches traders with various educational materials such as investment courses, instructional videos, and the BeeRich educational platform.

Q: How to get support from uSMART Group？

A: For support, you can reach out to uSMART Group through their email or telephone contacts provided for both Singapore and Hong Kong offices.

Q: What advantages do the ESOP schemes of uSMART Group provide？

A: uSMART Groups ESOP schemes offer tailored solutions for managing employee stock options, aiding in effective corporate asset management.

Risk Warning

Online trading poses substantial risks, with the potential for complete loss of invested capital, rendering it unsuitable for all traders. It is imperative to comprehend the inherent risks and acknowledge that the information provided in this review is subject to change due to continuous updates in the company's services and policies.

Additionally, the review's generation date is a critical consideration, as information may have evolved since then. Readers are strongly advised to verify updated details directly with the company before making any decisions, as the responsibility for utilizing the information herein rests solely with the reader.