In today's highly competitive securities market, choosing a safe, reliable, and efficient trading platform is crucial. As a leading fintech company, uSMART Securities provides one-stop financial services to investors with its professional services and advanced technology. This article will deeply analyze the reliability of uSMART Securities, share the account opening experience and deposit/withdrawal guide, and introduce the basic fee situation of uSMART Securities and the new user benefits in May.

Company Background: Who is uSMART Securities?

uSmart Securities Limited is a licensed corporation recognized by the Hong Kong Securities and Futures Commission (Central No.: BJA907 Click here for details), holding licenses for securities trading, providing advice on securities, providing advice on corporate finance, and asset management. In addition, uSMART Securities (Singapore) Limited also holds a Capital Markets Services License approved by the Monetary Authority of Singapore (License No.: CMS101161 Click here for details). The company provides a variety of investment products such as Hong Kong stocks, US stocks, A-shares, US stock options, ETFs, funds, and bonds for global investors.

Is uSMART Securities Regulated? Is it Safe?

1. Licensing Situation

uSMART Securities holds Class 1, 4, 6, and 9 licenses from the Hong Kong Securities and Futures Commission (SFC), representing that it has:

• Securities Trading License (Class 1)

• License for Providing Advice on Securities (Class 4)

• License for Providing Advice on Corporate Finance (Class 6)

• Asset Management License (Class 9)

The regulatory license is the core of compliant operation and also the basic standard for judging whether a brokerage is safe.

2. Isolation and Custody of Customer Assets

• The customer funds of uSMART Securities are independently deposited in a trust bank account in Hong Kong, which is completely isolated from the company's operating funds, greatly reducing the risk of customer funds.
• uSMART Securities performs excellently in terms of compliance and capital security and is worthy of trust.
• uSMART Securities provides the Hong Kong Investor Compensation Fund (with a maximum protection of HK$500,000) for customer accounts, ensuring the security of transactions.

Account Opening Steps and Common Questions of uSMART Securities

uSMART Securities provides both online and offline account opening methods. The following will introduce in detail the account opening steps and precautions of uSMART Securities, covering the complete process from data submission to identity verification, helping you complete the account opening quickly and efficiently.

(1) Account Opening Methods

• Online Registration
  • Click the "Account Opening" button at the bottom menu bar of the uSMART Securities App.
  • Submit the required materials as instructed.
  • Complete identity confirmation and signature.
  • After online and offline identity verification
  • Wait for the audit to pass.
• Account Opening at the Store
  • Address: Room 2607, 26th Floor, FWD Financial Centre, 308 Des Voeux Road Central, Sheung Wan, Hong Kong; Room 2405, 24th Floor, FWD Financial Centre, 308 Des Voeux Road Central, Sheung Wan, Hong Kong.
  • Business Hours: 09:00 - 18:00 on trading days.

(2) Details of the Account Opening Process

• Submit Account Opening Application
  • Precautions: Ensure that the submitted materials are clear and complete to avoid affecting the audit progress. For example, the identity card must be within the validity period, and the address proof must be issued within three months.
• Identity Verification
  • Method 1: Transfer no less than HK$10,000 (US$1,500) from your Hong Kong bank account to uSMART Securities.
  • Method 2: Bring the original account opening documents to the uSMART Securities store for identity verification (appointment with customer service is required).
• Audit Time
  • Duration: After successfully submitting the account opening application, the audit is expected to be completed within 1 trading day. During the audit, you can check the audit progress through the App.

(3) Required Materials

(4) Common Questions about Account Opening

How to Open Both Hong Kong and US Stock Accounts Simultaneously?

• • You only need to apply for a uSMART Securities account. After the audit is successful, both a Hong Kong stock and a US stock cash account or margin account will be opened for you. After depositing and crediting the corresponding funds, you can conduct corresponding Hong Kong and US stock transactions.

How Long Does It Take to Complete the Account Opening After Submitting the Account Opening Application?

• • After successfully submitting the account opening application, the audit is expected to be completed within 1 trading day.

Is There a Threshold for Account Opening?

• • There is no threshold, and account opening is free.

Do Mainland Users Need to Visit Hong Kong in Person for Account Opening?

• • There is no need to visit Hong Kong in person. All processes can be completed through an online application. Click the "Account Opening" button at the bottom menu bar of the uSMART Securities App and follow the instructions to complete the operation.

Deposit and Withdrawal Guide of uSMART Securities

(1) Deposit Guide

uSMART Securities supports multiple deposit methods, including FPS Speed Transfer, Peer-to-Peer Transfer, Local Express Transfer, and Cross-border Remittance, to meet the capital transfer needs of different investors. The following will introduce in detail the specific operation process, advantages, and precautions of each deposit method to help you complete the capital deposit quickly.

• FPS Speed Transfer Deposit
  • Operation Process: Log in to the mobile application of a Hong Kong bank, select "FPS Speed Transfer", enter the FPS ID (3958923) of uSMART Securities and the transfer amount, and click "Confirm" to complete the transfer.
  • Advantages: Supports Hong Kong dollars (RMB is not supported for the time being), and the funds are credited immediately. Most banks do not charge fees.
  • Precautions: Customers can make transfer deposits without registering the FPS ID with a mobile phone number or email address.
• Peer-to-Peer Transfer Deposit
  • Operation Process: Through online banking or mobile banking, select "Transfer", enter the same bank account information of uSMART Securities (such as transferring from HSBC to uSMART Securities' HSBC account), and the transfer amount, and click "Confirm".
  • Advantages: The funds are credited in real-time, and there are no fees. It supports Hong Kong dollars and US dollars.
  • Precautions: Ensure that the transfer amount is accurate and the transfer information is complete (including the remitter's account number, payee's account number, currency amount, etc.).
• Local Express Transfer (CHATS) Deposit
  • Operation Process: Log in to online banking, select "Interbank Remittance", fill in the receiving bank, account number and other information of uSMART Securities, select "Local Express Transfer", confirm the transfer amount, and click "Submit".
  • Advantages: The interbank remittance is credited within a few hours, and it supports Hong Kong dollars and US dollars.
  • Precautions: The remitting bank and the receiving bank may charge corresponding handling fees.
• Cross-border Remittance (T/T) Deposit
  • Operation Process: Through online banking or the bank counter, select "Cross-border Remittance", fill in the receiving bank, account number, SWIFT code and other information of uSMART Securities, confirm the remittance amount, and submit the remittance application.
  • Advantages: Supports Hong Kong dollars and US dollars.
  • Precautions: The funds are expected to be credited within 2 - 5 working days. The remitting bank and the receiving bank may charge corresponding handling fees.

(2) Withdrawal Guide

uSMART Securities provides multiple withdrawal methods. The following will introduce in detail the operation process, precautions, and expected arrival time of each withdrawal method to help you transfer funds conveniently.

• Hong Kong Dollars to a Local Hong Kong Bank Account
  • Operation Process: Log in to the uSMART Intelligent Investment App, select [Withdrawal], fill in the withdrawal amount and the receiving bank account information (it must be a local Hong Kong bank account), and click "Confirm" to submit the withdrawal application.
  • Amount Limit: ≤ HK$1,000,000, no handling fee; > HK$1,000,000, the bank charges a handling fee of approximately HK$25.
  • Arrival Time: T day or T+1 day.
• US Dollars to a Local Hong Kong Bank Account (Non-Virtual Bank)
  • Operation Process: Log in to the uSMART Intelligent Investment App, select [Withdrawal], fill in the withdrawal amount and the receiving bank account information (it must be a local Hong Kong non-virtual bank account), and click "Confirm" to submit the withdrawal application.
  • Handling Fee: No handling fee.
  • Arrival Time: T day or T+1 day.
• US Dollars to a Hong Kong Virtual Bank Account
  • Operation Process: Log in to the uSMART Intelligent Investment App, select [Withdrawal], fill in the withdrawal amount and the receiving virtual bank account information, and click "Confirm" to submit the withdrawal application.
  • Handling Fee: The bank charges a handling fee of approximately US$7.5.
  • Arrival Time: T day or T+1 day.
• Cross-border Remittance Withdrawal
  • Operation Process: Log in to the uSMART Intelligent Investment App, select [Withdrawal], fill in the withdrawal amount and the receiving bank account information (it must be an overseas bank account), select "Cross-border Remittance", and click "Confirm" to submit the withdrawal application.
  • Handling Fee and Arrival Time: Subject to the bank, and the funds are expected to be credited within 3 - 5 working days.

(3) Precautions for Deposits and Withdrawals

• Consistency of Account Name: When making deposits and withdrawals, the name of the bank account used must be consistent with the name of the uSMART Securities account, and do not use other people's bank accounts or joint bank accounts for deposit and withdrawal operations. Otherwise, it may lead to failed deposits and withdrawals or delays, and even refund fees.
• Accuracy of Remittance Information: When making deposit operations, make sure to ensure that the filled remittance information (such as the payee's name, account number, currency, etc.) is accurate to avoid failed deposits or delayed fund arrivals.
• Deposit Limit: Different deposit methods may have corresponding limit regulations. For example, the FPS Speed Transfer deposit usually has a single transaction limit of HK$100,000, and the specific limit is subject to the regulations of each bank. Understanding the deposit limit helps to plan the fund arrangement and ensure that the funds can be credited smoothly.
• Withdrawal Limit: Withdrawals may also be subject to limits. For example, the withdrawal limit for a local Hong Kong bank account is usually HK$1,000,000 per transaction. If it exceeds this limit, withdrawals may need to be made in batches or additional handling fees may be paid. In addition, cross-border remittance withdrawals may also be subject to limits set by banks and local regulations. It is recommended to consult the bank in advance for detailed information.
• Bank Processing Time: Banks do not process remittance business on holidays. Please reserve enough time for deposits and withdrawals to avoid affecting the fund usage plan due to bank processing delays.
• Retention of Remittance Vouchers: After completing deposit or withdrawal operations, it is recommended to retain the relevant remittance vouchers for subsequent inquiries or reconciliations. These vouchers may include bank transfer receipts, electronic receipt screenshots, etc., which can provide strong proof for deposit and withdrawal transactions.
• Real-time Monitoring of Fund Status: After making deposit and withdrawal operations, it is recommended to monitor the fund status in real-time through the uSMART Securities App or relevant channels. Once it is found that the funds have not been credited in a timely manner or abnormal situations occur, contact the uSMART Securities customer service for inquiries and handling in a timely manner to solve the problem as soon as possible and ensure the safety of the funds.

Basic Fee Information of uSMART Securities

(1) Transaction Fees for Hong Kong Stocks

(2) Transaction Fees for US Stocks

(3) Other Fees

Explanation of Other Fees for Hong Kong Stocks

Explanation of Other Fees for US Stocks

New User Benefits of uSMART Securities in May

Complete the account opening through the exclusive benefit link of Hawk Insight, or enter the invitation code 264886 on the APP side.

New users who deposit HK$10,000 can get a total reward of up to HK$460.

• 6 cash coupons of HK$50 each = HK$300 in total.
• 8 cash coupons of HK$20 each = HK$160 in total.

 Log in to the uSMART mobile App and click [My] [Reward Center] to view the detailed rewards.

📌 Activity deadline: May 31, 2024

📌 The activity page can be viewed on the homepage of the uSMART Securities App or the official website.

Which Types of Investors is uSMART Securities Suitable for?

The product design and service positioning of uSMART Securities are more suitable for the following types of users:

• Investors in Hong Kong and US Stock IPOs: The IPO subscription process is smooth, and zero commission is supported.

• Newcomers to Hong Kong and US Stocks: The account opening threshold is low, and the operation interface is user-friendly.

• Users with small to medium capital: There is no platform fee, and the transaction fee is extremely low.

• Users who prefer mobile operation: The App has complete functions, and 24-hour customer service is supported.

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FAQ

Q: Is uSMART Securities safe and reliable?

A: uSMART Securities is regulated by the Securities and Futures Commission of Hong Kong and the Monetary Authority of Singapore and holds a legitimate license. Customer assets are held in custody by a bank, and transaction information is protected by bank-level encryption technology to ensure the safety of assets and data.

Q: What documents are required for account opening?

A: Documents such as an identity card and proof of address are required for account opening. Please refer to the account opening process for specific details.

Q: How long does it take for fund deposit and withdrawal?

• Fund Deposit Time: Depositing with a Hong Kong bank card can generally be instant or within the same day, depending on the selected deposit method.
• Fund Withdrawal Time: Withdrawal to a local Hong Kong bank account is usually completed on the transaction day (T day) or within T+1 day. Cross-border remittance is expected to be completed within 3 - 5 working days.

Q: How can I view the new user benefits?

A: Log in to the uSMART mobile App and click [My] [Reward Center] to view the detailed reward information.

Q: How can I participate in the preferential offer for 100 selected Hong Kong stock ETFs?

A: This preferential offer is applicable to all new and existing customers, and customers can directly participate through the uSMART Securities trading platform.

Q: Does the preferential offer for US stock transactions apply to all accounts?

A: The preferential offer for US stock transactions is applicable to customers with newly opened uSMART Hong Kong standard accounts in 255.

Q: Does the uSMART Securities App support currency exchange?

A: The uSMART Securities App supports currency exchange. You can log in to the uSMART App, click [Account] - [Currency Exchange], select the currency to be exchanged and enter the exchange amount to complete the application.

Q: How can I transfer stocks in and out?

Transferring Stocks In:

• Log in to the uSMART Securities App, enter the “Account” page, select the Hong Kong or US stock account corresponding to the market, and click “Transfer In Stocks”.
• Fill in the information of the transferring brokerage (such as name, account number, and account name), the uSMART Securities account information, as well as the stock code and quantity. After confirming that the information is correct, submit the application and notify the transferring brokerage to initiate the transfer.
• Taking Futu Securities as an example, you need to fill in the transfer information and submit it in the uSMART App first, and then carry out the transfer operation on the Futu platform. The transfer is usually completed within 5 working days.
• There is no fee for transferring stocks into uSMART Securities, but the original brokerage may charge a fee.

Transferring Stocks Out:

To transfer stocks from uSMART Securities to an account with the same name in another brokerage, you need to obtain the 《Transfer Instruction Form》, fill in the information of both brokerages, and notify both the other brokerage and uSMART Securities.

You can track the progress during the transfer. Note that stock transfers are only allowed to accounts with the same name. The transferring brokerage usually charges a fee, while uSMART Securities does not charge for receiving stocks. The transfer fee for Hong Kong stocks is 0.1% of the market value (minimum HK$600 per share), and the transfer fee for US stocks is US$0.03 per share (minimum US$100 per share). The transfer of Hong Kong stocks takes 3-5 working days, and the transfer of US stocks is expected to take 3-30 working days due to identity verification.

Q: How to download the uSMART Securities App?

A: The following are the ways to download the uSMART Securities App:

For Apple Phones

• For users who have already downloaded the App:
  • Automatic Update: Open the phone settings, click "App Store", and enable the automatic update function. In this case, all downloaded apps including the uSMART Securities App will be automatically upgraded when there is an update.
  • Manual Update: Open the "App Store", click the profile icon in the upper right corner to enter the account page. Check the status of existing apps through the update list below or click "Purchased Items", and manually click to update the uSMART Securities App when you find it.
• For users who have not downloaded or accidentally deleted the App:
  • Redownload: If you accidentally delete the App, click the profile icon in the "App Store", enter the "Account" page, click "Purchased Items", find "uSMART", and click "Download - Install".
  • You can also redownload it using an iOS account with the region set to "Hong Kong". Make sure your Apple ID is set to "Hong Kong" or other international regions. Search for "uSMART Securities (Hong Kong)" in the "App Store" and click "Download - Install".

For Android Phones

• For users who have already downloaded the App:
  • Automatic Update: When the App is updated, you will receive a pop-up reminder when you launch the App. Click "Update Now" to update to the latest version.
  • Manual Update: Enter the [My] page in the uSMART App, click [About uSMART] - [Version Update], and check and update to the latest version.
• For users who have not downloaded or accidentally uninstalled the App:
  • Download from the official website: Visit the official website of uSMART Securities and directly download and install the App through the link provided on the page.
  • Download from Google Play: Directly search for "uSMART Securities (Hong Kong)" in the Google Play Store, and then download and install it.

Conclusion

Based on this comprehensive evaluation, uSMART Securities performs excellently in terms of compliance, account opening experience, transaction costs, App usage, and fund withdrawal speed, and is particularly suitable for small and medium investors as well as novice users.

If you are looking for a formal, low-fee, and easy-to-operate Hong Kong and US stock brokerage, uSMART Securities is undoubtedly one of the options with high cost-effectiveness. Especially with the benefits for account opening in May, it is more attractive.

📌 It is recommended that friends interested in investing in Hong Kong and US stocks may open a uSMART Securities account during the event period to enjoy the account opening rewards and high-quality services.