Just wondering if anyone has used Superhero and how there experience has been?
They have a flat $5 trade fee and are free to buy EFT?
Good deal or too good to be true?
Superhero Share Trading, Thoughts?
Trying2SaveABuck on 14/01/2021 - 22:10
Last edited 15/01/2021 - 09:23 by 1 other user
Last edited 15/01/2021 - 09:23 by 1 other user
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What price do you get if you don’t pay the fee? Whatever they think is fair?
Are you implying there are different ways in which a market order will execute?
I’m asking what the fee covers, and how the trade executes if it isn’t executed as a market or limit order.
how the trade executes if it isn’t executed as a market or limit order.
What are you talking about?
It will execute as one or the other depending on what you pick and pay for.
As far as I know, there is no market making fee in the ASX that might fund a Robinhood style system here (admittedly, I am not an expert).
So it is hard to see how they could cover their costs unless they sell your data, or market other stuff to you or otherwise do stuff that isn’t in your best interests to cover your brokerage.Maybe worth it if you trade frequent small parcels?
You don’t invest under your own HIN with Superhero, instead they act as custodian, which is why they can offer the brokerage they do. If an individual HIN doesn’t matter, then they should be fine, but if you want individual HIN then OpenMarkets I find are the best with $5 trades for anything under $5k.
$108/yr for market/limit orders and live prices.