Currently, I only have a Futu HK account. Attempts to open accounts with Moomoo or Tiger Brokers have failed, as many brokerages now require proof of overseas employment. uSMART is one of the last brokerages I’ve found that still allows account opening with a mainland Chinese identity. I decided to give it a try.
Note: While you can successfully open an account, a Hong Kong bank card is essential for depositing and withdrawing funds.
uSMART SG vs. uSMART HK: Which one to choose?
I opened both. The advantage of uSMART SG is the ability to participate in US stock IPOs and trade spot assets. uSMART HK, on the other hand, allows for quick deposits when linked with a Hong Kong bank card and participation in HK stock IPOs. Therefore, I recommend opening both.
Prerequisites
- Apple Users: You need a non-mainland Apple ID (e.g., Hong Kong, Turkey, etc.) to download the app from the App Store.
- Android Users: You can download the APK directly from the official website: https://www.usmart.hk/zh-cn/download
Registration
Registration supports +86 mobile numbers.
Account Opening Tips
- Accuracy: Ensure all information is accurate. Mismatched details will result in rejection and require resubmission.
- Company Name: Use the full legal name of your company. You can verify this on your payslip or business databases like Qcc/Tianyancha.
- Signature: Sign clearly and legibly. Overly cursive or messy signatures may be rejected.
- Review Time: In my experience, the review takes less than one business day. You will receive an email confirmation once it’s approved.
uSMART HK Account
You can use my referral code for uSMART HK: vxmj8 to receive rewards upon successful opening. Note that HK and SG referral codes are not interchangeable.
uSMART SG Account
You can use my referral code for uSMART SG: 6vjd to receive rewards.
Deposits and Withdrawals
- Navigate to App - Trade to manage your funds. uSMART HK supports near-instant deposits from Hong Kong bank cards.
Opening Rewards
- Check App - Me - Reward Center for available rewards. Be mindful of the eligibility requirements and expiration dates so you don’t miss out.
Maintaining Active Status
If you are opening an account just to “lock in” your access before policies tighten further, you only need to keep a small amount of money in the account to prevent it from being marked as dormant.
“Existing Customer” Definition: The account must maintain a balance of at least $50 USD (or equivalent).
Final Thoughts
You might not use it for active trading right away, but it’s good to have. Having a uSMART account provides investment flexibility before potential future restrictions make it even harder for mainland users to enter the market.
