uSMART Review 2026: The Broker With No Minimum Fee on SGX Trades
Table of Contents
uSMART is one of the few brokers in Singapore that charges no minimum fee on SGX trades. A S$500 buy of an STI ETF costs about 30 cents in commission, where most app brokers charge close to S$2.
That makes it a serious option for small, regular SGX investors. It also comes with three account tiers that price the same trade differently, an upgrade you cannot undo, and a much smaller user base than Tiger or moomoo. Some investors will save money every month here. Others will find a simpler broker suits them better.
I went through uSMART’s own product and licence pages, the tier fee tables, the current welcome package and the 2026 zero-commission offer for US stocks. I also set its costs against Tiger Brokers and Webull. Here is the complete, honest verdict.
→ Open a uSMART account with referral code 9smd
uSMART at a Glance
| Factor | Rating |
|---|---|
| SGX fees (small orders) | ⭐⭐⭐⭐⭐ 4.6/5 |
| US stock fees | ⭐⭐⭐⭐ 4.0/5 |
| Fee transparency | ⭐⭐ 2.8/5 |
| Market and product range | ⭐⭐⭐ 3.5/5 |
| App, data and order types | ⭐⭐⭐⭐ 4.0/5 |
| Safety and track record | ⭐⭐⭐ 3.4/5 |
| Best for | Small, regular SGX investors who want to avoid per-order minimums |
| Not ideal for | CPF or SRS investors, and anyone who wants SGX shares in their own CDP account |
| Free plan | Yes — no account fee, no minimum deposit, free US Level 2 data |
| Starting price | 0.06% per SGX trade with no minimum (Standard account), US$0.88 per US order |
| Overall rating | ⭐⭐⭐ 3.6 / 5 |
→ Claim the uSMART welcome package with code 9smd
What Is uSMART?
uSMART is a Hong Kong-founded online broker, backed by the Chow Tai Fook group according to Beansprout. The group marks its eighth year in 2026 and also holds licences in Hong Kong and the US.
The Singapore broker is uSMART Securities (Singapore) Pte. Ltd. (UEN 202110113K). It holds a Capital Markets Services licence from MAS (CMS101161), received in December 2021, according to MoneySmart. Unusually for an app broker, it has walk-in branches: one on Robinson Road and a second that opened in October 2025.
In 2026 the app covers US, Singapore and Hong Kong stocks and ETFs, US options, futures, forex and CFDs, funds and bonds through its Wealth+ tab, fractional US shares from US$1 and a regular savings plan. uSMART’s home page also lists Japan and UK stocks.
The honest caveat: uSMART is small. Its Singapore app had 187 ratings on the App Store on 1 October 2026, per CompareForexBrokers, against tens of thousands for the bigger apps. That does not make it unsafe, but it means less community feedback and a shorter track record.
uSMART Fees in 2026: The Full Breakdown
There is no account fee and no minimum deposit. What you pay per trade depends on which of three account tiers you hold: Trader, Standard or Intel. Most new users open Standard, because Trader accounts are excluded from the welcome package.
| Account | SGX stocks | US stocks | US options |
|---|---|---|---|
| Trader | 0.05%, no minimum | US$0.88 per order (price US$40+) or US$0.005/share, min US$1 | US$0.40 per contract |
| Standard | 0.06%, no minimum | Same as Trader | US$0.50 per contract |
| Intel | 0.10%, no minimum | US$1.88 per order (price US$40+) or US$0.01/share, min US$1.88 | US$0.75–0.95 per contract |
SGX figures from Beansprout’s 2 October 2026 broker table. US and options figures from Beansprout’s uSMART review. Fees are before GST and exchange charges.
Standard Account — The One Most People Open
- SGX stocks, ETFs and REITs: 0.06% of trade value, no minimum.
- US stocks: US$0.88 per order for shares priced at US$40 or more. For cheaper shares, US$0.005 per share with a US$1 minimum. Capped at 1% of trade value.
- Hong Kong stocks: 0.03% plus HK$12 per order.
- US options: US$0.50 per contract.
- Eligible for welcome rewards and referral promotions.
Best for regular investors who want the low SGX pricing and the sign-up rewards.
Trader Account — Lowest Fees, No Rewards
- SGX: 0.05%, no minimum. Hong Kong: 0.024% plus HK$12. US options: US$0.40 per contract.
- No welcome package and no referral rewards.
- Fewer smart tools than Standard or Intel.
Best for experienced traders who place many orders and do not care about sign-up gifts. Note that you cannot move back to Trader once you upgrade.
Intel Account — Premium Tools, Highest Fees
- SGX: 0.10%. US: US$1.88 per order or US$0.01 per share, minimum US$1.88.
- Needs a minimum asset level (S$2,000 to S$3,000, depending on the source) and works on a subscription basis.
- Unlimited pattern-recognition tools, daily stock picks and priority support.
Best for very few people. You pay more per trade for analysis that most long-term investors do not need.
Hidden Costs to Know About
The tier you choose sets your fees for good. Upgrading from Trader is one-way. If you move to Intel for the tools, your SGX fee nearly doubles and you cannot go back to Trader.
Currency conversion. Beansprout’s 2025 review listed a 0.5% currency conversion fee and measured a spread of about 0.38% on SGD to USD. uSMART’s home page now says in-app exchange carries no fee. Check the rate in the app against the mid-market rate before converting a large sum.
SGX exchange fees still apply. “No minimum” covers uSMART’s commission. SGX’s clearing fee (0.0325%) and trading fee (0.0075%) and 9% GST on fees are added on top, as at every broker.
Fee tables are hard to find. uSMART’s pricing page splits fees by tier and tab, and promotional pricing changes often. Check the order preview in the app before your first trade in each market.
Core Features: What uSMART Actually Does
No-Minimum SGX Trading — The Strongest Feature
Most app brokers in Singapore charge a minimum of about S$1.60 to S$1.99 per SGX order, per Beansprout’s October 2026 table. uSMART charges a percentage with no floor. On small orders, the difference is large.
A S$500 monthly buy of an STI ETF costs S$0.30 in Standard commission. At Tiger, the same order costs S$1.99. Over a year of monthly buys, that is about S$3.60 against S$24. For investors building an SGX portfolio in small steps, this is the reason to open uSMART.
US Stocks — US$0.88 Per Order, Zero Commission for New Users
For US shares priced at US$40 or more, which covers most large companies, uSMART charges a flat US$0.88 per order. In July 2026 it began offering “lifetime zero commission” on US stocks for eligible sign-ups until 31 December 2026, with a fixed platform fee of US$0.88 per order, per Mothership’s sponsored write-up.
That puts uSMART between Webull (US$0) and moomoo (US$0.99 per order). It is cheaper than Tiger’s US$1.99 minimum on every order size.
Data and Order Types
uSMART gives free real-time US Level 2 data with up to 60 price levels from Nasdaq Basic and NYSE ArcaBook. It lists 11 SMART order types, including trailing stops, conditional orders and TWAP and VWAP orders. These are tools most beginner apps do not offer.
The app has six tabs (Quotes, Wealth+, Intel, Trade, Quick and Me), a community chat and daily analyst picks. It is clean, but busy. New investors may need a few days to find their way around.
Smart Plan and Regular Savings
The regular savings plan buys SGX and US stocks on a schedule from S$50 a month. Beansprout describes it as “zero-cost”, but it works on a pay-first, rebate-later basis, and the rebate covers only uSMART’s own fees, not exchange fees. Fractional US shares start from US$1.
Wealth+ — Funds and Cash Products
The Wealth+ tab holds funds, bonds and cash products. In 2026 uSMART promoted a Maybank money market fund to new joiners, topping up the return if the fund fell short of the promoted rate. Like any money market fund, it is not SDIC-insured. Check the live terms in the app.
The Honest Assessment: What Holds Up and What Does Not
Regulation holds up. uSMART Securities (Singapore) Pte. Ltd. is MAS-licensed under the Securities and Futures Act, and its home page says client funds and securities are kept in a segregated custodian account. That is the same framework every licensed broker in Singapore operates under.
SGX shares are not in your CDP account. uSMART holds SGX shares with its custodian. You remain the owner, but dividends and corporate actions come through uSMART, and you will not get AGM invitations unless you request a proxy. Beansprout lists no CDP-linked option.
The home page’s safety wording overstates it. The page headline says funds are “securely insured”, but names no insurance scheme or amount. Treat the protection as segregation under MAS rules, not insurance. Broker accounts are not SDIC-covered.
Small user base, short track record. uSMART has been licensed in Singapore since December 2021. It has fewer users, fewer independent reviews and less community knowledge than Tiger, moomoo or Webull. Problems are harder to research when few people have written about them.
No CPF or SRS. uSMART does not list CPF or SRS investing. If you want to invest CPF-OA money in an app, Tiger’s Cash Boost account is the option.
uSMART vs Tiger Brokers vs Webull: Which Should You Choose?
| Factor | uSMART (Standard) | Tiger Brokers | Webull SG |
|---|---|---|---|
| SGX fee | 0.06%, no minimum | 0.06%, min S$1.99 | Free year one, then ~0.05% (min S$1.60) |
| Cost of a S$500 SGX buy | ~S$0.30 | S$1.99 | S$0 year one, then S$1.60 |
| US stock fee | US$0.88 per order | US$0.01/share, min US$1.99 | US$0 |
| US options | US$0.50 per contract | US$0.65 per contract | ~US$0.55 per contract |
| SGX in your own CDP | No | Sell only (0.22%, min S$9.99) | No |
| CPF / SRS | No | Yes (Cash Boost) | No |
| Markets | US, SG, HK (+ JP, UK listed) | US, SG, HK, AU, China A | US, SG, HK, China A |
| Walk-in branch | Yes | No | No |
uSMART and Tiger figures as above. Webull figures from our Webull Singapore review. SGX fees before exchange charges and GST.
Choose uSMART if you buy SGX shares in small amounts every month. No minimum fee makes it the cheapest option in the table for orders under about S$3,300.
Choose Tiger if you want CPF or SRS investing, Australian shares, or a bigger and longer-running platform. Our Tiger Brokers review covers it in full.
Choose Webull if most of your money goes into US stocks. US$0 per order beats uSMART’s US$0.88.
For London-listed ETFs such as CSPX or VWRA, none of the three fits — see our Interactive Brokers review. The best zero-commission brokerages guide compares the rest of the field.
Who Should Use uSMART
uSMART is a strong fit if:
- You invest S$100 to S$2,000 a month into SGX stocks or ETFs and want to stop paying minimum fees.
- You also buy US shares priced above US$40 and want a flat fee per order.
- You trade US options and want US$0.40 to US$0.50 per contract.
- You want free US Level 2 data and advanced order types.
- You like having a branch you can walk into.
uSMART is not a strong fit if:
- You want to invest CPF or SRS money.
- You want SGX shares in your own name at CDP.
- You prefer a large, well-reviewed platform with a long Singapore track record.
- You only buy US stocks, where a US$0 broker costs less.
- You want a simple fee page you can read in one minute.
Is uSMART Worth It in 2026?
For small SGX investors, yes. Take someone investing S$500 a month into an STI ETF. At uSMART Standard, uSMART’s own commission is about S$3.60 a year. At Tiger it is about S$24, and at a traditional bank broker with a S$25 minimum it is about S$300. That is real money for a beginner building a portfolio slowly.
For larger orders the gap closes. On a S$5,000 SGX trade, uSMART Standard costs S$3.00 and Tiger costs S$3.00 too. Above about S$3,300 per order, the no-minimum advantage disappears.
The test for your first month: open a Standard account with the code, place one small SGX buy and one US buy, and check the contract notes against the table above. Then withdraw S$50 to see how long it takes to reach your bank. If the fees match and the withdrawal is smooth, set up your monthly plan.
Sign-up offer: new users who open a Standard or Intel account with code 9smd before 31 December 2026 can claim monthly cash vouchers for six months, from S$6 to S$330 a month depending on the deposit tier, plus a fractional TSLA share and up to S$14 in starter vouchers. Each month’s voucher needs that month’s deposit and trade conditions. The code must go in during sign-up. The uSMART referral code guide shows each step.
Frequently Asked Questions
Is uSMART safe and regulated in Singapore?
Yes. uSMART Securities (Singapore) Pte. Ltd. holds a Capital Markets Services licence from MAS (CMS101161), received in December 2021. Client funds and securities are held in segregated custodian accounts. Broker accounts are not SDIC-insured, and the home page names no insurance scheme despite its “securely insured” headline.
How much are uSMART fees?
On the Standard account, SGX trades cost 0.06% with no minimum, US stocks cost US$0.88 per order for shares priced at US$40 or more, and US options cost US$0.50 per contract. Trader accounts are slightly cheaper and Intel accounts more expensive. GST and exchange fees are added on top.
What is the difference between uSMART Trader, Standard and Intel?
Trader has the lowest fees but no welcome rewards. Standard costs slightly more, includes most tools and qualifies for sign-up promotions. Intel needs a minimum asset level, adds premium analysis tools and charges the highest fees. Upgrading from Trader is one-way.
Is uSMART better than Tiger Brokers?
For small SGX orders, yes: uSMART has no minimum fee, while Tiger charges at least S$1.99. Its US$0.88 US order fee also beats Tiger’s US$1.99 minimum. Tiger is better if you want CPF or SRS investing, Australian shares, CDP-linked selling or a larger platform.
Does uSMART hold SGX shares in my CDP account?
No. SGX shares bought through uSMART are held in a custodian account. You remain the owner and receive dividends through uSMART, but you will not get AGM invitations unless you ask for a proxy. If you want shares in your own name, use a CDP-linked broker.
Can I use CPF or SRS with uSMART?
No. uSMART does not list CPF or SRS investing. To invest CPF-OA or SRS money through an app, Tiger Brokers’ Cash Boost account is one option, or use a bank broker such as DBS Vickers or POEMS.
Final Verdict
uSMART earns 3.6 out of 5 stars.
It earns its best marks on small-order costs. No minimum fee on SGX trades, a flat US$0.88 on most US orders and cheap US options make it one of the lowest-cost ways to build a portfolio in small steps. Free Level 2 data and advanced order types are a bonus.
The deductions come from everything around the price. Three tiers with a one-way upgrade make the fees harder to follow, SGX shares sit with a custodian, there is no CPF or SRS, and its user base and track record are small.
Open uSMART if you invest small sums into SGX every month and want to stop paying minimum fees. If you want CPF investing or a bigger platform, choose Tiger. If you buy mostly US stocks, choose Webull.
→ Start with uSMART and claim the welcome vouchers
Have you tried uSMART for SGX regular investing? Share your experience in the comments.
Continue reading:
