by Yahoo Finance, 20 July 2022.
- In celebration of their 4th anniversary, the intelligent brokerage app will be offering 0% commission fees from 1 July 2022 to 31 December 2022
- uSMART also announced the shift in their global headquarters that will be established in Singapore, a move that signals strong belief in the growth of Singapore’s retail investor market
SINGAPORE - Media OutReach - 20 July 2022 - uSMART Securities (“uSMART"), a leading next generation online brokerage, is celebrating its 4th anniversary with the launch of a 0% commission campaign promotion.
From now until 31 December 2022, all users on the uSMART app will enjoy zero commission for equity trading across all available markets (Singapore, US, and Hong Kong), and no US settlement fees charges. The move aligns with uSMART’s vision to encourage the adoption of retail investing through a combination of investor education and professional yet easy-to-use features, in the meantime making them the broker with the lowest cost in Singapore.
uSMART is an intelligent investment app with a core mission of promoting ‘smart’ trading and improving the sophistication of retail investors, backed by strategic investors such as Hong Kong conglomerate Chow Tai Fook. Through the app, uSMART provides access to financial education, expert advice, and features that lower the required starting capital needed for investment. uSMART also announced the launch of fractional share investing for US stocks in May 2022, a rare feature only offered by a select few online brokers. With fractional shares – stock units that amount to less than one full share – investors can maximise returns and diversify portfolios even with a smaller capital output.
“In Singapore, we believe that there is an untapped market of potential investors in a younger demographic that are put off by the traditionally high barriers of entry”, said Ian Leong, Chief Executive Officer, uSMART Singapore. “By removing commission and US settlement fees and offering fractional shares on our platform, we have drastically lowered the financial costs of entry, which we hope will tap into a whole generation of new retail investors.”
In a strategic move that further signals its commitment to the Singapore market and the region, uSMART also announced the move of its global headquarters here. “We have witnessed an exponential growth in retail investor participation in Asia over the last two years. Singapore makes strategic sense for our headquarters given its position as the region’s financial hub, which offers us greater access to an international talent pool and investment capital to support our global business expansion," said Leong.