What trading uSMART costs
One standard lot of EUR/USD on uSMART's FX CFD account costs at least US$5.00 for the round turn: 0.5 pips of spread (US$5.00), with no commission, on the minimum spread the Singapore site advertises rather than a figure we measured.
| Account | A month of trading | One round turn, 1 lot |
|---|---|---|
| FX CFD0.5 pips, advertised, minimum (Singapore site, 24 September 2026) | at least US$100.00 | at least US$5.00 |
A pip on EUR/USD is US$10.00 per standard lot, so the cost of a round turn is the spread in pips times that, plus any commission.
Our verdict on uSMART
This firm suits a Singapore trader who already uses the uSMART app for stocks and wants FX CFDs beside share trading, on the firm's stated terms: no commission on FX CFDs, and client funds and securities kept in a segregated custodian account. What would give me pause is the firm's wording that losing more than your deposits and making further payments may be a possibility.
The rating on this page is a desk-based assessment of the firm's published Singapore information and the MAS Financial Institutions Directory, through the site's eight published categories with their weights renormalised. Six of the eight carry a rating; Trading Costs and Funding are blank. Less than half of each blank category could be read from that published information. The firm's stock CFD page prints "70% of retail client accounts lose money when trading CFDs, with this investment provider." Read that line, and the firm's margin terms, before you fund an account.
Pros
- The firm states "uSMART does not charge commission on FX CFDs trading" on its FX CFD page.
- EUR/USD carries an advertised minimum spread of 0.5 pips in the firm's FX CFD table.
- Client funds and securities sit in a segregated custodian account, the firm's home page states.
- The firm offers a CFD account opened in the uSMART app, alongside its stock CFDs.
- An Open API with quotes, quote pushes, and trading interfaces is on the firm's Singapore site.
Cons
- The firm's FX CFD page states that losing more than your deposits and making further payments may be a possibility.
- Its stock CFD page prints "70% of retail client accounts lose money when trading CFDs, with this investment provider."
- The firm's margin rates for FX CFDs are graduated and start at 5%.
- Its FX CFD page states "CFD trading may not be suitable for investors with low risk tolerance level."
Desk-based assessment: scored from published information, not tested
uSMART score breakdown
2/5 · Low
Scored on 6 of 8 categories: Trading Costs and Funding are not scored.
The desk score is the published category weights renormalised over the 6 of 8 categories scored; Trading Costs and Funding are blank.
How is our rating calculated?- Blank: Trading Costs: Standard Published Spreads, Standard Tested Spreads, RAW/ECN Tested Spread, Inactivity Fees, Deposit / Withdrawal Fees, Other Fees, the whole category
- Blank: Trading Experience: Limit Order Speed, Market Order Speed, Ease of Withdrawal, Professional Leverage
- Blank: Trust: Age of Broker, TrustPilot Score
- Blank: Trading Platform: Demo Account Expiry
- Blank: Customer Service: Live Chat, CS Knowledge, Website Experience
- Blank: Funding: Base Currencies, Visa / Mastercard, Wire Transfer, Paypal, Neteller, Skrill, Rapid Pay EUR/GBP, bPay AU / POLi NZ, Amex, Klarna, Union Pay, the whole category
Is uSMART safe? MAS licence, uSMART Securities (Singapore) Pte. Ltd.
Yes, uSMART Securities (Singapore) Pte. Ltd. is a Capital Markets Services Licensee and an Exempt Financial Adviser, as the MAS Financial Institutions Directory, read on 24 September 2026, lists. We searched MAS’s enforcement actions, media releases, and the Investor Alert List for the firm under its FID name and its trading names.
| Fact | What the record says | Source |
|---|---|---|
| Legal name on FID | uSMART Securities (Singapore) Pte. Ltd. | MAS Financial Institutions Directory, read 24 September 2026 |
| Licence types on FID | Capital Markets Services Licensee, Exempt Financial Adviser | MAS Financial Institutions Directory, read 24 September 2026 |
| Products FID lists under Dealing In Capital Markets Products | Securities; Collective Investment Schemes; Exchange-Traded Derivatives Contracts; Over-The-Counter Derivatives Contracts | MAS Financial Institutions Directory, read 24 September 2026 |
| FID record last updated | 8 September 2026 | MAS Financial Institutions Directory, read 24 September 2026 |
| MAS enforcement actions and media releases naming the entity as subject | None found, searched 24 September 2026 | MAS enforcement actions and media releases, searched 24 September 2026 |
| Entity printed on the Singapore site | uSMART Securities (Singapore) Pte Ltd | Firm's Singapore site, read 24 September 2026 |
I would still check the directory entry directly, because it is the authority on the firm’s status. The firm’s own Singapore site states that uSMART Securities (Singapore) Pte Ltd holds a valid capital markets services licence issued by the Monetary Authority of Singapore. That statement and the directory entry agree on the entity.
MAS actions and the Investor Alert List
No MAS enforcement action or media release names the firm in any role, and no Investor Alert List entry bears any name we searched.
MAS enforcement and alerts
A search of MAS enforcement actions, media releases and the Investor Alert List on 24 September 2026 under 3 search terms (uSMART Securities (Singapore) Pte. Ltd., uSMART, uSMART Securities) returned no MAS enforcement action against this company.
Source: the Monetary Authority of Singapore, mas.gov.sg, searched 24 September 2026.
uSMART client money
A Singapore retail client contracts with uSMART Securities (Singapore) Pte. Ltd., the entity the MAS Financial Institutions Directory lists.
Client money, as the firm states it: segregated custodian account (Firm's Singapore site, read 24 September 2026)
Negative balance, as the firm states it: losses can exceed deposits (Firm's Singapore site, read 24 September 2026)
Where a Singapore client’s money is held
The firm states: “Client funds and securities are kept in a segregated custodian account to ensure they do not commingle with other accounts.”
Who a Singapore client contracts with
The firm’s own Singapore site prints the entity as uSMART Securities (Singapore) Pte Ltd.
Negative balances
The firm’s FX CFD page states that losing more than your deposits and making further payments may be a possibility.
uSMART spreads and commission
What matters to you is that every figure the firm prints is advertised, not measured by us.
FX CFD
The firm’s FX CFD table prints EUR/USD with a 0.5 pips minimum spread in its “Min. Spread” column. That is a minimum, advertised by the firm, so treat it as a floor rather than a promise of what you will pay on every trade.
Commission
The firm states: “uSMART does not charge commission on FX CFDs trading.”
What it costs to trade with uSMART
The firm states that it charges no commission on FX CFDs, and it advertises an EUR/USD minimum spread. The firm’s FX CFD page also carries the marketing line “Trade With As Low As USD 20”. I would ask the firm directly what it covers before you rely on it.
FX CFD: EUR/USD spread, advertised: 0.5 pips, minimum (Firm's Singapore site, read 24 September 2026)
Commission, as the firm states it: None (Firm's Singapore site, read 24 September 2026)
Other fees a Singapore trader should check
The costs to check on the firm’s Singapore site before trading are overnight financing on CFD positions, currency conversion on non-SGD positions, and any inactivity or account fee.
uSMART account types and minimum deposit
The firm says you tap Open a CFD account in the uSMART app, key in personal particulars, and acknowledge the Client Agreement and the firm’s CFD risk sheet.
Account types on the Singapore site: CFD account (uSMART app) (Firm's Singapore site, read 24 September 2026)
Customer Knowledge Assessment, as the firm states it: CFD Knowledge Assessment in the CFD account opening flow (Firm's Singapore site, read 24 September 2026)
Minimum deposit
The firm’s home page states “Competitive fees for US, HK, SG stock trading and no minimum deposits.” That statement sits beside stock trading, and I would not read it across to the CFD account.
uSMART trading platforms
The firm’s Singapore site names two platforms: the uSMART app and an Open API. The app is where the firm says its FX trading platform operates, and the Open API page lists basic quotes, quote pushes, and trading interfaces. If you trade programmatically, I would read the Open API page for its terms.
uSMART execution speed and slippage
Our global execution panel holds no fill time for uSMART Securities (Singapore) Pte. Ltd. I would not choose or reject the firm on speed grounds without a figure. If execution matters to your strategy, ask the firm for its execution policy and any slippage statistics it publishes for Singapore clients.
uSMART markets
The firm describes its FX CFD as an alternative means of trading on forex currency pairs, allowing you to participate in the movement of the underlying instrument without actually owning the underlying currency.
| Fact | What the record says | Source |
|---|---|---|
| Product: FX CFDs | Offered | Firm's Singapore site, read 24 September 2026 |
| Product: other CFDs | stock CFDs | Firm's Singapore site, read 24 September 2026 |
| Product: futures | Gold/Silver Futures | Firm's Singapore site, read 24 September 2026 |
| Platforms on the Singapore site | uSMART app | Firm's Singapore site, read 24 September 2026 |
| Platforms on the Singapore site | Open API | Firm's Singapore site, read 24 September 2026 |
uSMART leverage and margin for Singapore clients
The firm also states that CFD trading may not be suitable for investors with low risk tolerance level.
| Fact | What the record says | Source |
|---|---|---|
| Margin or leverage, as the firm states it | EUR/USD margin 5%; leverage 20:1 | Firm's Singapore site, read 24 September 2026 |
| Margin or leverage, as the firm states it | graduated; starts at 5% | Firm's Singapore site, read 24 September 2026 |
| Risk warning, as the firm prints it | 70% of retail client accounts lose money when trading CFDs | Firm's Singapore site, read 24 September 2026 |
| Risk warning, as the firm prints it | CFD trading may not be suitable for investors with low risk tolerance level | Firm's Singapore site, read 24 September 2026 |
Table 18 of the Fourth Schedule to the Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) Regulations (Rg 13) sets a 5% minimum margin for a retail customer (20:1, our arithmetic) and 2% for an accredited, expert, or institutional investor (50:1, our arithmetic). That rule binds every MAS licensee alike.
How uSMART compares with Maybank Securities and CGS International
Against Maybank Securities Pte. Ltd., the comparison turns on spread and product type. Maybank Securities’ forex product page prints EUR/USD at 1.0 pips in its spread table, and its pricing overview page prints 1.3 pips under “normal market conditions”; two pages, two figures, and I choose neither. Maybank Securities states “no brokerage fees” on FX and “no minimum sum requirement to open a live account”, and it offers spot FX on margin on Currenex for Maybank Forex.
CGS International Securities Singapore Pte. Ltd. states S$2,000 to open a CFD account, on its CFD page, and names CFD Mobile and CFD ViewPoint as platforms, with DMA equity CFDs and index and commodity futures CFDs. Its own FX product page states a spot FX offering on margin, with a Classic account at an initial deposit of S$5,000 (“SGD or equivalent”) and an Accredited Investor account at S$10,000.
Should you open an account with uSMART?
Yes, if you want FX CFDs inside the uSMART app you already use, and you accept the firm’s stated terms. I would fund only what you can afford to lose.
Before you deposit, read the firm’s negative balance wording and its retail loss disclosure on the CFD pages, in the firm’s own words. I would also check the margin terms the firm states in the leverage section. Then verify the entity yourself on the MAS Financial Institutions Directory, and read the Client Agreement and the firm’s CFD risk sheet on its Singapore site before you sign anything.
FAQs
Is uSMART Securities (Singapore) Pte. Ltd. licensed by MAS?
Does uSMART charge commission on FX CFDs?
Can I lose more than my deposit with uSMART?
Has MAS taken action against uSMART Securities (Singapore) Pte. Ltd.?
What is the minimum deposit for a uSMART CFD account?
Record log
| Record | Detail |
|---|---|
| MAS Financial Institutions Directory read | 24 September 2026 |
| MAS enforcement actions, media releases and Investor Alert List searched | 24 September 2026 |