uSMART Group

Basic Information

• Registered Region
  

  Hong Kong
• Operation Status
  Normal
• Operating Period
  2021-03-22
• Deposit Methods
  eGIRO, Paynow, FAST, telegraphic transfer, BigPay
• Website
  https://usmartgroup.com
• Market Type
  Foreign exchange
• Support Languges
  

  English

  

  Chinese
• Main Business
  stocks, forex, options, ETFs, REITs, futures
• Business Type
  Financial services provider
• Social Media
• Contact Details
  support@usmart.sg', 'cs@usmarthk.com

  +65 6303 0663', '+65 3135 1599', '+852 9520 4758
• Type of Accounts
  Cash, Margin
• Trading Platforms
  uSMART App
• Withdraw Methods
  Not disclosed
• Auto Trading
  Not supported

Pros and Cons

Pros: Regulated by MAS; simple account opening procedures; no minimum deposit requirement; security measures in place. Cons: No demo accounts; complex fee structures; lack of popular payment methods; no MT4/MT5 support.

Company Background

uSMART Group, officially registered as uSmart Holding Ltd., was established in 2021 and is headquartered in Hong Kong. The company has made a name for itself in the financial services industry by providing trading in diverse equities, including US, Singapore, and Hong Kong stocks, as well as options and forex. The organization holds a Retail Forex License from the Monetary Authority of Singapore (MAS), which underscores its commitment to regulatory compliance and customer service.

Fund Security

uSMART Group employs multiple security measures to protect client assets, such as holding client funds in segregated accounts to avoid commingling with the company's operational funds. Additionally, the broker is regulated by MAS, which offers stringent oversight and client protection mechanisms. This regulatory status enhances confidence in the security of clients' investments and funds.

Account Opening

uSMART Group offers two types of accounts: Cash and Margin. The opening process is straightforward, requiring users to register via their mobile number or email. The verification process is compliant with regulations, which often necessitates identity verification through official documents. No minimum deposit is required, which could encourage new traders to begin their trading journey.

Trading Fees

Trading fees vary based on products. For instance, US stocks incur a commission of $0.003 per share, with a platform fee of $0.005 per share. Margin trading allows leverage of up to 1:3. There may be platform fees for fractional shares and differentiable fees for other services, but no comprehensive inactivity fees are documented.

Trading Instruments

uSMART offers a range of tradable instruments, including stocks, options, ETFs, and futures. Notably, forex trading is included but cryptocurrencies and commodities are not part of their portfolio. The variety of options strategies and the ability to trade fractional shares add to its attractiveness.

Trading Technology

The uSMART App serves as the primary trading platform, designed for convenience across iOS, Android, Mac, and Windows. Features include real-time market data, professional trading tools, and flexible order types. However, the absence of industry-standard platforms such as MT4 and MT5 may limit the appeal for some traders.

Research and Education

While specific research tools and educational resources were not detailed, the presence of webinars and tutorials is likely, given the operational structure of modern trading firms. Traders are encouraged to utilize the platform’s features for market analysis. The overall content quality remains unverified.

Customer Support

Customer support is available via phone and email, but lacks a live chat option. Support operates within business hours, and while reviews suggest a general quality of service, detailed response times remain unverified. The provision of support in both English and Chinese enhances communication with diverse clientele.