uSMART is back with bigger and better rewards for new users. Regardless if you’re an active trader or a long-term investor, uSMART might be the broker for you. With a wide variety of unique features such as Fractional Shares, Forex CFDs, and many more, it welcomes all types of investors. In this article, I’ll be sharing more about uSMART and its new welcome promotions, as well as a few reasons why you should try them out.
Unique Features
As we all know, most local brokers will offer the same few products such as providing access to the SG/HK/US markets, Money Market Funds, Exchange Traded Funds (ETFs), and basic options trading. Apart from these, uSMART actually offers a few more unique features that some brokers might not offer.
Fractional Shares
Fractional shares, offered by platforms like uSMART, are a game-changer for investors. They permit the purchase of portions of high-priced stocks, like Berkshire Hathaway Inc Class A (NYSE: BRK.A), opening up opportunities for a more diverse range of investors. This feature provides accessibility, allowing individuals to participate in the stock market without the need for a significant initial investment.
Moreover, fractional shares promote diversification by enabling investors to allocate their capital across various assets. This is crucial for risk management, as it spreads exposure across different market segments or industries.
Fractional shares are also a boon for disciplined investors. They facilitate strategies like dollar-cost averaging (DCA), where one can invest a fixed amount at regular intervals. Even with high-priced stocks, investors can stick to their DCA plan, accumulating shares over time.
Affordability is another key advantage. Fractional shares break down the cost of premium stocks into manageable portions, making investing more accessible, especially to younger or less affluent investors.
Liquidity remains intact with fractional shares, allowing investors to buy or sell them just like whole shares. This ensures quick entry and exit from positions, which is crucial for effective portfolio management.
Lastly, fractional shares offer educational benefits, allowing novice investors to gain hands-on experience in the stock market without risking substantial sums. In essence, fractional shares have democratized investing, making it more inclusive, flexible, and educational for everyone.
Forex CFDs
Next would be Forex CFDs, which is a feature that will excite traders. With Forex CFDs, this offers traders a new market to trade in when the stock market isn’t providing any opportunities. uSMART introduced Forex CFD, which allows you to trade Forex using CFDs, also known as Contract for difference. uSMART offers trading with over 80 Forex pairs and spreads from 0.5 pips! With Forex CFD at your fingertips, you can anticipate the movement of currency pairs without actually owning the underlying currencies. Instead of settling a set amount of base currency, CFDs are cash-settled, based on the difference between the opening and closing price of a pair of currencies.
This provides traders the opportunity to not only trade in the stock market but also trade in the forex market as well, all within the uSMART app. With Forex CFD, you can profit from price movements in both directions (long or short). As the Forex market is always active (24 hours) throughout the week, only closing on weekends, this provides you with alternate trading opportunities when the stock market is closed.
Attractive Commission and Fees
uSMART is currently offering very competitive commissions and fees for using its platform.
* uSMART’s no minimum commission and platform fee will last until 31st December 2023
Additionally, for new users who want to trade options, you can do so with 0 commission charges on uSMART. You will only be charged a platform fee of USD 0.3 per contract instead of the usual USD 0.5/0.8 per contract. The lower your fees, the more profits you get to keep from your trades.
Welcome Promotion
For new users, uSMART is offering a fantastic welcome promotion that is hard to reject. Any new uSMART user who successfully opens an account will be rewarded with the following:
- Free US and SG Market Live Price
- $0 commission charges (for US options until 31st Mar 2024
- 0.02 Tesla Share Voucher (worth up to USD 6)
- Wire Transfer Reimbursement Voucher Pack (Select 1 out of 2)
- Cash Voucher Reward Pack (Select 1 out of 3)
Additionally, if you want to transfer in stocks from another broker, you can do so and still be entitled to the welcome promotions as well. Transferring stocks in and out of uSMART is completely free of charge whereas some brokers might charge additional fees per counter transferred out.
Cash Voucher Reward Pack
For the cash voucher reward pack, you can choose from 3 options, each with its own set of requirements. Do note that the requirements are to be met for each month to be entitled to its rewards.
For Reward Pack A, you can get a total of USD 36 (6 x USD 6 Cash Voucher). You will need to maintain 30 consecutive days of daily average assets of ≥ USD 200 (~SGD 286, ~HKD 1,571). The asset at the end of the 30th day has to be ≥ USD 200 (~SGD 286, ~HKD 1,571). You will also need to complete at least 2 US stock/option trades or US SMART Orders.
For Reward Pack B, you can get a total of USD 180 (6 x USD 30 Cash Voucher). You will need to maintain 30 consecutive days of daily average assets of ≥ USD 1,500 (~SGD 2,160, ~HKD 11,775). The asset at the end of the 30th day has to be ≥ USD 1,500 (~SGD 2,160, ~HKD 11,775). You will also need to complete at least 3 US stock/option trades or US SMART Orders.
For Reward Pack C, you can get a total of USD 360 (6 x USD 60 Cash Voucher). You will need to maintain 30 consecutive days of daily average assets of ≥ USD 10,000 (~SGD 14,261, ~HKD 78,500). The asset at the end of the 30th day has to be ≥ USD 10,000 (~SGD 14,261, ~HKD 78,500). You will also need to complete at least 6 US stock/option trades or US SMART Orders.
It’s important to note that if you bought and sold a stock, it will count as 2 trades (1 BUY + 1 SELL). As such, it’s actually quite easy to meet the requirements and enjoy the full benefit of the reward pack because you can simply buy and sell a stock at the bid/ask price. In most cases, you will likely lose 1 pip or $0.01 in terms of price difference but in exchange, you can earn cash vouchers which are worth a lot more.
For example, you can buy 1 stock of AAPL at USD 177 and, given the highly liquid and volatile US market, you can queue and likely sell it at USD 177. From this, you achieve 2 trades and only incur a small commission fee of USD 0.008 with no loss from the trade itself. Repeat this for 6 months consecutively and you can enjoy all the attractive rewards available.
Exclusive Promotion
Exclusively for sgstockmarketinvestor, uSMART has offered additional rewards for new user sign-ups under our affiliate link. For new sign-ups, once you have cumulatively deposited or transferred in stocks valued at SGD 2000 and performed a total of 40 trades (inclusive of your monthly trades to qualify for the welcome gifts), you will be entitled to a 1-year access to our Premium Subscription.
If you are new to my website or you don’t know that there is a Premium Subscription, here are the services being offered:
- Access to both my Singapore and US Tech Watchlist with Preferred Entry Prices
- Telegram Group Invitation Where I Share Market Updates and My Personal Views
- Monthly Tradable Opportunities with Trade Setups
- On-Demand In-Depth Fundamental and Technical Analysis on Any Stock of Your Choosing
- Coverage on Several Basic and Advanced Options Strategies
All in all, if you signed up for a uSMART account using our affiliate link, deposited USD 1500 or ~SGD 2200, and performed 3 trades per month for 6 months and an additional 22 trades on top of that (for a total of 40 trades), you will be entitled to the following rewards:
- 0.02 Tesla Share Voucher (worth up to USD 6)
- 6 x USD 30 Cash Voucher (worth USD 180)
- 1-year access to Premium Subscription (worth SGD 128)
This totals the sign-up rewards to be worth over SGD 314. If you deposited USD 10,000 or ~SGD 14,300 and performed 6 trades per month for 6 months and an additional 4 trades on top of that, you can get rewards worth over SGD 600! This makes uSMART very attractive, offering larger sign-up and welcome rewards than any other broker.
Final Thoughts
If you have yet to sign up for a uSMART account, now is the best time to do so. Signing up with our affiliate link will give you rewards of over SGD 600, plus you get to enjoy all the other benefits such as unique features only offered by uSMART as well as low commission fees.