Over the past five years, Singapore’s online brokerage scene has transformed rapidly. The rise of digital-first platforms brought user-friendly mobile apps, lower trading fees, and more opportunities to invest in global markets. Tiger Brokers entered the market in 2020, followed by Moomoo in 2021. However, as more brokers enter the crowded fray and fees and commissions hit zero, we are seeing a surprising shift in strategy – once fully digital brokerages are now opening brick-and-mortar physical stores.
Last Friday, uSMART opened its second branch in Singapore, located along Orchard Road, in a shophouse next to The Centrepoint. This comes just three months after the fintech brokerage opened its first physical branch on Robinson Road in July.
Source: Facebook/uSMART
Both branches offer personalised services, including hands-on guided account openings, expert trading advice, and venues for educational sessions.
The push by some of the most prominent digital stockbrokers to open physical branches suggests that we’re entering a new stage of retail investing.
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#1 Increases Brand Visibility
In an increasingly crowded industry, where digital ads can only go so far and physical ads are expensive to maintain, physical stores are a cost-effective way to ensure consistent brand visibility. Choosing an appropriate location is also a way to demonstrate a brand’s relevance to retail investors. Opening branches in the central business district and the top shopping district sends a clear message to the community that they are here to stay.
This is undoubtedly why uSMART’s first two physical locations in Singapore are along Robinson Road and Orchard Road. These physical stores in Singapore follow the opening of four uSMART branches in Hong Kong this year, most notably in the popular districts of Tsim Sha Tsui, with an upcoming fifth branch in the bustling Causeway Bay area. All in all, uSMART plans to open 12 service centres across Hong Kong and Singapore.
#2 Attracts New Customers
As pervasive as the online experience is and as savvy as retail investors are today, many still prefer direct human interactions. Many online brokerages, especially in Singapore, have been competing for the same growing, but ultimately still limited, young customer base that is very comfortable and familiar with trading on mobile apps and other digital platforms.
Physical presence allows online brokerages to remain relevant to a broader retail investor base that might be more comfortable opening accounts under the attentive guidance of the brokerage staff.
Source: Facebook/uSMART
#3 Provides A Venue For Educational Seminars
While online investment seminars have grown in popularity and attract hundreds of attendees, especially during the COVID-19 pandemic, there are tangible benefits to attending these seminars in person.
Investment seminars held at physical stores often deliver a richer, more engaging experience than their online counterparts by enhancing the human connection. Being in the same room as experts and peers allows participants to ask spontaneous questions, pick up on non-verbal cues, and build trust through face-to-face interactions. These experiences are almost impossible to replicate on a screen.
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#4 Creates Opportunities For Networking
Beyond opportunities to receive expert advice and attend educational seminars, these physical shops also provide a venue for retail investors to meet one another, often in less formal settings. What would typically be a solitary, app-based activity becomes a community experience.
Attending networking sessions and casual meet-ups allows investors to exchange ideas, learn from one another, and feel part of a larger movement, thereby strengthening loyalty to the brand.
These face-to-face interactions also create natural openings for brokers to introduce premium services, margin accounts, or wealth management products in a way that feels consultative rather than transactional.
#5 Moves Away From Stiff Competition In The Online Space
The fact remains that there are only so many barriers to entry in the online brokerage space. Platforms compete on good user experiences via their mobile apps, low commission fees and a diverse offering of investment opportunities and products. With some platforms now offering lifetime zero commissions, it feels like a race to the bottom.
These physical branches allow brokerages to offer a distinct yet necessary differentiator—the human connection. This is especially important for retail investors, who might feel overwhelmed by the diverse choices and the impersonal way they are presented.
Having a physical space also demonstrates a brand’s long-term commitment to its customers in the local market. It is also a signal of their seriousness to regulators and institutional partners that they are not interested solely in short-term gains and growth.
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