Share trading platform Superhero shakes up investing with $2 brokerage

Share trading platform Superhero shakes up investing with $2 brokerage

True to its mission of making investing more accessible and affordable, Superhero, a leading share trading and superannuation platform, has slashed brokerage costs, providing access to Australian and Wall Street shares and ETFs from just $2 a trade.

Superhero Co-Founder and CEO John Winters said, “Superhero was started with a clear vision to provide every Australian equal opportunity to make the most of their money irrespective of their financial status, experience or demographics. We’ve always strived to break down the barriers to wealth creation that stand in the way of Australians.

“Whether it’s generating investment returns, earning Qantas points, paying lower fees, or best-in-class digital experience, we want to continue to drive success for our customers.”

From today, Superhero customers will pay $2 brokerage per trade on all ASX trades up to $20,000 (0.01% fee for trades over $20,000). The same pricing will apply in US dollars for U.S. trades from 1 May 2024.

The platform, already awarded as Australia’s Best Value share trading platform, said the simplified $2 brokerage for AUS and US trades makes it one of the lowest-cost in Australia and is packed with premium features.

Higher brokerage costs can make a substantial difference to investment returns over time.

“Whether it’s a 90% discount to trade Aussie shares compared to the incumbent banks or 33% cheaper than our closest competitor, we believe a dollar saved should be a dollar invested,” said Winters.

Along with the brokerage changes, Superhero’s new FX transfer fee will move to 65 basis points, a 5-point decrease from the current rate saving investors US$2.50 on a $5,000 FX transfer.

Since launching in 2020, the home-grown Aussie company has won Canstar’s 2023 Most Satisfied Customers Award for Online Share Trading, MoneyMagazine’s Best Value trading platform (three years in a row, 2022, 2023, and 2024), and now has almost 300,000 Aussies who have $2 billion invested on Superhero.

Tech-savvy Millennials and Gen Z make up 68% of Superhero’s customer base. These customers expect an exceptional and highly intuitive app experience. Unlike the legacy players, Superhero is built to harness technology to solve customer pain points. The award-winning and feature-packed app suits everyone from experienced traders to first-time investors.

For beginners, there’s never been a better time to start investing with a $10 minimum investment on Superhero. To put things in perspective, $10 invested in Pilbara shares 10 years ago would be worth over $2,000 today (excluding dividends).

For experienced traders, premium features like live pricing, comprehensive portfolio reporting, real-time deposits, and instant FX transfers are all included in the offering.

“We are solving customer pain points rooted in legacy systems. Superhero will continue to deliver world-class customer experience and wealth-tech features, democratising wealth creation for Australians across trading and superannuation.”