New investors face many challenges at the beginning of their journey. As a beginner, navigating the world of finance can feel like getting lost in the jungle without following a lead.
That hasn’t stopped novice investors from getting their feet wet, however. According to a previous report by the Singapore Exchange, retail investor participation has increased significantly and “retail trading volume has almost doubled since the days before Covid-19” during the pandemic.
To cater to new investors, uSMART recognized the need to develop a beginner-friendly trading app. Instead of repurposing the existing version of its app for the Hong Kong market, it created a bespoke version for Singapore investors.
“In Hong Kong, the investment landscape is saturated and app functionality is geared towards more sophisticated traders. In Singapore and the region, investors prefer a cleaner look where the multiple features don’t make the user interface feel overwhelming,” said Mr. Ian Leong, Chief Executive Officer of uSMART.
uSMART has been on the market since 2018 and understands the challenges new investors face. Designed to appeal to those who are new to investing, the uSMART app aims to educate and empower novice investors.
Give investors on a tight budget more choices
Beginners are often reluctant to commit large amounts of capital or feel limited to a limited set of options due to tight budgets.
To address this issue, uSMART introduced a fractional share feature, which is rarely offered by brokers.
The feature allows users to buy any fraction of a stock in the US market.
Buying fractions of shares allows investors with little seed capital to invest in pricier stocks like Tesla and Google and manage risk more effectively as they improve their trading skills.
Fractional shares are ideal for those looking to diversify their portfolios but have limited funds. For example, with the funds they would spend on just one expensive stock, traders can buy a fraction of 10 stocks for better diversification.
With the fractional stock feature, beginners who are still exploring the different markets and products can enjoy a wide range of options, as well as a high level of liquidity, allowing them to easily adjust the allocation of their funds.
Stock picks, curated insights and expert advice at your fingertips
After you’ve finally mastered the basic financial knowledge required to trade, deciding what to buy or trade becomes a key challenge. Researching stocks is a time-consuming activity that even experienced traders don’t always have the time to delve into thoroughly.
Beginners who are unsure about which stocks to buy can turn to uSMART’s Daily Stock Picks feature. Every day, a team of uSMART analysts recommend three stocks that have a high probability of increasing in value over the next few days.
This can be a good place to start for beginners who are unsure of what to invest in and helps them not get overwhelmed by the myriad of choices out there in the markets.
Newbie traders tend to have many pressing questions that need a quick solution. The uSMART app’s community feature addresses this by providing access to a range of live chat rooms hosted by experts who can answer questions and facilitate discussions on key topics.
Users can connect with each other through the “Community” tab in the app or access the “Experts” tab to chat directly with financial experts.
User-friendly, intuitive app interface for a better experience
There is a wealth of information online, but beginners are sometimes overwhelmed by the technical terms used in financial reporting and investing-related content. Rather than having to constantly turn to Investopedia to find out the meaning of financial jargon, the uSMART app has a Quick Guide feature that users can tap for instant access to investment terms explanations or step-by-step instructions to obtain.
The uSMART app also has a beginner-friendly interface that replaces financial jargon with simple terms. For example, the term “conditional orders” is replaced by more intuitive terms like “buy low” or “sell high”.
Thanks to the app’s clean and user-friendly interface, beginners should be able to navigate the world of investing with ease.
For inquisitive investors, the app’s Intel Mode subscription feature offers even more smart solutions and support, including Daily Stock Picks, Recommended Strategies, and a trend tracker. These features allow users to delve even deeper into stocks and strategies as they progress along their investing journey.