Superhero removes account fee, rolls out live data to all users

Low-cost online share trading platform Superhero has announced the abolishment of its $9 premium account fee and the expansion of premium features to its entire customer base.

The decision means Superhero will now only be offering a single account (replacing the basic and premium tiers) through which all users will have access to formally premium features such as live market data and limit orders for no monthly account fee.

“We know the features of our premium account are some which investors expect and some investors look for. Making the cost free for these features puts us ahead of our competitors and ensures we live up to our mission of making investing accessible to all,” said Superhero co-founder and chief executive, John Winters.

According to Mozo Senior Research Analyst, Mitch Pollard, Superhero now sits alongside CommSec and Westpac as one of the few platforms to offer a live data feed for free.

“Access to live market data is a pretty standard feature from most brokers, but it typically comes at a cost for users,” he said. “So this decision from Superhero puts them in a relatively small group of platforms which do offer this feature as part of a free account tier.”

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Source: Superhero removes account fee, rolls out live data to all users