uSMART Group Forex broker specializes in providing foreign exchange trading services, the company's official website https://www.usmartgroup.com/, the company's legitimate regulatory information Hong KongSFCDealing in securities,SingaporeMASRetail Forex License, to enhance the security of the company's address 3 Phillip St, #12-04, Royal Group Building, Singapore 048693.
uSMART Group Forex Broker
Basic information
Hong Kong
1-2 years Regulated in Hong Kong Regulated in Singapore Dealing in securities Retail Forex License Suspicious Scope of Business Suspicious Overrun Medium potential riskCompany profile
uSMART Group, officially registered as uSmart Holding Ltd., operates as a Hong Kong-based regulated broker since 2021. 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. It is currently regulated well by MAS.
Pros and Cons
| Pros | Cons |
| Regulated by MAS | No demo accounts |
| Security measures provided | Complex fee structures |
| Simple account opening procedures | No MT4/5 |
| No minimum deposit requirement | Lack of popular payment methods |
Is uSMART Group Legit?
uSMART Group has established its legitimacy and credibilityby 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.
| Regulatory Status | Regulated |
| Regulated by | Monetary Authority of Singapore (MAS) |
| Licensed Institution | USMART SECURITIES (SINGAPORE) PTE. LTD. |
| Licensed Type | Retail Forex License |
| Licensed Number | CMS101161 |
Additionally, it provides further protection. To ensure the safety of client assets, funds, and securities are held in separate custodian accounts, which prevents them from being mixed with other accounts.
What Can I Trade on uSMART Group?
uSMART Group provides stock trading in US, Singapore and Hong Kong markets and fractional shares, US options trading with diverse range of options strategies, short selling and grid trading order, ETFs, REITs and ADRs, and varieties of futures and forex products.
| Tradable Instruments | Supported |
| Stocks/Shares | ✔ |
| Options | ✔ |
| ETFs | ✔ |
| REITs | ✔ |
| ADRs | ✔ |
| Futures | ✔ |
| Forex | ✔ |
| Commodities | ❌ |
| Indices | ❌ |
| Cryptocurrencies | ❌ |
| Bonds | ❌ |
Account Type
uSMART Group offers two types of accounts: the Cash and Margin accounts. They claim it does not require the minimum deposit.
| Account Type | Feature | Available Tradable Products |
| Cash | Basic account for trading with cash. Purchasing power is through cash deposits. | Equity, Fractional share |
| Margin | Flexible account with leverage (up to 3 times). Purchasing power via cash or shares as collateral. | Equity, Fractional share, Options, Short selling |
To open an account of uSMART Group, you can click “Register/ Log in”, and fill in your mobile number or email, set password and click “Sign Up”. The procedure is simple and easy.
Leverage
uSMART Group offers leverage up to 1:3. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
uSMART Group Fees
uSMART Group charges fees according to different products and services. For uSMART traders, they charge US stock, US option, ADR, HK stock & Warrant & CBBCs, SG stock fees, and Unit Trust & Insurance.
| Product Type | Fee Type | Rate/Amount | Minimum | Maximum | Applicable GST (9%) |
| US Stocks | Commission | $0.003 per share | $0.50 per order | 0.50% of transaction amount | ✔ |
| Platform Fee | $0.005 per share | $1.00 per order | ✔ | ||
| Fractional Shares Trading | Commission | $0.00 (for < 1 share) | / | / | ❌ |
| Platform Fee | $1.00 per order | / | / | ❌ | |
| OTC Shares Trading | Commission | ❌ | / | / | ❌ |
| Platform Fee | $0.019 per share | $6 per transaction | 2% of transaction amount | ✔ |
More details can be learned through clicking: https://www.usmartglobal.com/pricing
Trading Platform
uSMART Group offers the uSMART App. This app supports trading in iOS, Android, Mac, Windows and OpenAPI. TWAP, VWAP orders are supported for professional traders.
| Trading Platform | Supported | Available Devices | Suitable for |
| uSMART App | ✔ | iOS, Android, Windows, Mac | / |
| MT4 | ❌ | / | Beginners |
| MT5 | ❌ | Windows, Android, WebTrader, iOS | Experienced traders |
Deposit and Withdrawal
For Singapore Dollars (SGD), uSMART Group accepts eGIRO, Paynow, FAST, telegraphic transfer, and BigPay to make a deposit.
For foreign currency (USD and HKD), they offer telegraphic transfer and BigPay.
Besides, they supports fund withdrawal but require minimum withdrawal amount:
| Min Withdrawal | |
| HKD to banks in other countries/regions | 400 |
| HKD to Hong Kong banks | 10 |
| USD | 50 |
Rating Index
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Latest Reviews
Isla Brown
Italy
Their mobile app is fantastic - I can trade on the go with ease. The charts and analysis tools are comprehensive and up-to-date.
Positive
2024-07-22
FX1704855645
Hong Kong
Super quick to set up and fund my account! The real-time US Level 2 data is incredibly useful for making swift, informed trades. Also, the platform works smoothly
Positive
2024-06-21
阿洋
Taiwan
This company is 100% a scam. Although it appears to have a legitimate license, after purchasing U.S. stock options and exercising them, the positions never appeared. They later claimed it was settled in cash, but there were no transaction records visible at all. It feels like a black box operation; the process is unclear, which really isn't how a legitimate brokerage should operate.
Exposure
2024-11-13