by The Kiam Siap Life, Mr Kiam Siap, 4 April 2022.
This article is written in collaboration with uSMART Singapore. All views expressed in the article are the independent opinions of The Kiam Siap Life. The information in this article are meant purely for informational purposes and should not be construed as financial advice. This article has not been reviewed by the Monetary Authority of Singapore.
We’re all about being kiam siap and naturally, when a new product comes along that ticks all boxes of staying low-cost while not compromising on quality, we’d be drawn to it and hopefully this article gives Singaporeans more choices.
With low cost online brokerage being to go-to for many retail investors these days, it is not surprising that there will be an influx of new players to join the market in Singapore. Here’s my review of the 2 weeks early access hands-on experience for Singapore’s newest online brokerage, uSMART.
Background of uSMART
uSMART was founded in December 2018 and their license from Hong Kong’s SFC soon followed. uSMART Hong Kong app was successfully launched in July 2019 and soon won awards such as “Most Innovative Data Provider of the Year” from HKEx and the “Intelligent Investment Platform Award of Excellent” from Now Business News Channel 2019.
uSMART grew rapidly and completed their series B funding of USD 100m in Feb 2021, counting prominent HK conglomerate Chow Tai Fook Group as one of their strategic investors.
Looking to bring uSMART’s solutions to investors worldwide, Singapore became the next stop. uSMART Singapore received Capital Market License (CMS) from MAS in December 2021 and within 4 months, they have developed an investment app from scratch to cater to the needs of investors in this region.
Similar to other online brokerages, uSMART SG app offers global markets like US, SG and HK and products like stocks, ETFs, and US options.
My Experience with uSMART
For starters, uSMART is available on both iPhone’s App store and Android’s Google Play.
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