Online broker Superhero is bringing brokerage costs down to some of the lowest levels yet for Aussie share traders. There’s a flat $2 brokerage rate on ASX listed shares (on trade values up to $20,000), zero brokerage when you purchase ETFs and $5 when you sell, and zero brokerage on US shares and ETFs (Until 1 May, 2023). Plus traders can get started with a minimum investment of just A$10 (T&C's apply). Also, you earn 25 Qantas Points per trade on full brokerage trades, and earn 1 point per US$5 transferred from AUD to USD.
Superhero is the latest online share trading platform to hit the Australian market with no monthly fee and a flat brokerage fee on share trades.
Irrespective of the type of Superhero account they sign up to, users will be able to buy and sell ASX listed shares for a brokerage fee of $2 (on trade values up to $20,000), as well as buy ETFs with $0 brokerage and sell them with $5 brokerage - some of the lowest prices currently available. For trade values above $20,000, a brokerage fee of 0.01% of the trade value will apply.
Users can also trade US shares and ETFs with zero brokerage (up to 1 May 2024), though a 0.70% foreign exchange fee applies for transfers between AUD and US dollars.
And unlike the majority of online platforms which tend to require an investment of $500 or higher to get started, the minimum investment to use Superhero is just A$10 for users trading Australian shares. For users who are only trading US shares, the minimum account balance required would be US$10 worth of US shares.
Users will be able to transfer money via PayID or BPAY from their regular bank account into the ‘Superhero Wallet’ (a cash management account where funds are held with NAB), which they can then use to invest.
Superhero also allows you to earn Qantas Points. You can earn 25 Qantas Points per trade on full brokerage trades as well as 1 Qantas Point per US$5 transferred from AUD to USD (T&Cs apply).
Superhero is a streamlined, low-cost option for investing in Australian shares and ETFs, so it might appeal to new investors with lower amounts to invest or traders who are looking to reduce their brokerage costs and don’t mind not having access to some of the more advanced features available with other platforms.
Bear in mind that while US share and ETF purchases won't attract a brokerage fee currently, the $2 fee will apply from 1 May, 2024, and there is a foreign exchange fee for transfers between Australian and US dollars.
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$2.00 |
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Flat $2 fee brokerage on trades up to $20,000, for all ASX listed shares & LICs, $10 minimum. 0.01% for trades larger than $20,000. |
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0.01% |
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Flat $2 fee brokerage on trades up to $20,000, for all ASX listed shares & LICs, $10 minimum. 0.01% for trades larger than $20,000. |
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$0.00 |
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REITs |
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Superhero Wallet is a cash management account built into Superhero Account (held under NAB) |
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$0 brokerage on ETFs ($5 brokerage on selling). $0 brokerage on US shares until 1st May 2024. (0.70% exchange fee applies). 25 Qantas Points per ASX-listed shares traded. |
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Additional fees may apply for sell US trades. |
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