They just released international trading. a a a a a a
https://www.smh.com.au/business/companies/superhero-launches…
$0 Brokerage Fee with 0.5% FX on US Trading @ Superhero
1172
watwatwat on 05/07/2021 - 08:04 superhero.com.au (1679 clicks)
Last edited 05/07/2021 - 15:10 by 1 other user
Last edited 05/07/2021 - 15:10 by 1 other user
Referral Links
Referral: random (217)
Referrer and Referee each earn US$10 worth of Tesla stock. Referee must deposit minimum $100 into Superhero Wallet within 30 calendar days.
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No difference
They hold it on your behalf, same as always.
I am looking into purchasing US Shares.
What is the best and the cheapest platform? Would Commsec be the preferred option?
Would appreciate any suggestions
Thanks!
commsec is terrible interface for non ASX shares
Interactive brokers is 0.001 per share Commsec is $49>Unlimited depending on trade size
+1 for Interactive Brokers. Been using it and it's miles ahead of Commsec International and Options, in terms of interface, brokerage costs and amount of stocks available.
IBKR have a minimum monthly fee/commissions of 10 USD/month.
IBKR has recently removed monthly inactive fees
IBKR and sign up via referral for up to $1k usd free stock.
Where can I get referral link?
Interested in IBKR, been trying their demo account which is very complex for someone who came from Commsec/Selfwealth, but getting there…. I like the range of US stocks/ETFs as well as US options.
Do you know if:
-deposit and withdrawal are free and how fast is the deposit?
-What is the FX fee for trading US stocks?
-market data: Commsec/Selfwealth have I presume a real-time data. Do I have access to these on IBKR or I have to pay extra? how critical do you think is it to have real-time data access?
https://www.superhero.com.au/support/
Click on FAQs for all your answers.
There aren't referral links via superhero.
Since this new US stock addition, the APP seems much slower than before. Anyone experience the same ?
Not for me but I find it strange that I cannot use the WEBSITE version to do $US Currency conversions. It was only when I logged into the the updated APP that I saw the option.
Anyone know how does this compare to Stake and eToro?
From the financial services guide: "Superhero Nominees will hold on bare trust all financial products acquired by you and any cash deposited by you…."
As others have noted, you don't hold "your" shares. Superhero Nominees, an authorised representative of South African company Sanlam Private Wealth, holds the shares and you're trusting them with the cash you put in (it's not a bank account).
This can work fine, as it does with other cheap services; just be aware of the nature of what you're using. It's how these services manage to be cheap.
The FSG is describing ASX shares, is there one for US shares?
" an authorised representative of South African company Sanlam Private Wealth"
So its not even Sanlam Private Wealth ?
Checked the website of an Sanlam Private Wealth and there is no reference to Superhero ether . Am I missing something ?
This will be the same for any broker trading in foreign securities.
Not sure anybody got annoyed by etoro adverts on YouTube…its been bombarding me with non stop "etoro with zero interest" the afro guy saying it and kicking a soccer ball….after I have visited its website via mobile.
It is bloody stalking me.
It is bloody stalking me.
Its supposed to stalk you, it's targeting advertising.
and is why I use a sideloaded Newpipe (others prefer Vanced) on my Android phone. and SideTube on my Nvida Shield for YT
Hopefully Stake will match this competition …
So what is the conclusion with:
Stake
Superhero
Interactive brokersAssuming you invested $10k AUD into each platform for 100 shares with a market price at $100.
What would the roundtrip (buy & sell) cost be for each one?
Yes please. Let us know what you find out.
F
Ibkr $1 per trade, $2 per currency conversion. In usd.
Plus 10usd monthly fees.
I’m waiting for you to give the answer.
Does SuperHero have OTC stock to trade ?
Interactive broker is more reputable. No?
The beginner and average investor will probably find it difficult to use as it is designed for professional traders. But the FX spreads are much lower compared to Stake and other brokers
anyone know if SuperHero US trading will support more complex order types like stop-loss or other conditional stuff?
Using SW atm which has decent pricing (9.95 USD trades and 0.6% forex fee).Perhaps i could look to switch to SuperHero, but switching is always such a hassle, and might not be worth it for the slightly better Superhero fees. If the platform had better features though..
I just did a pretend purchase of some US shares and the same options to do limit order trades (which is what I can do in the AU market) was available. The only difference is that I had $0 in my 'wallet' as I have zero US$ transferred right now.
I suspect that this will be the extent of their changes.Limit & Market orders are the bare minimum for any platform to have, so sounds like they have the bare minumum orders but not any type of conditional orders, which is too bad (although conditional orders sometimes require you to accept additional t&c in settings somewhere to enable)
Superhero is a very bare bones sort of platform but I was pleasantly surprised that when I joined it had live trading data instead of the expected 20 min delay for free. When I did the initial research on SH late last year, I think to get live feeds (and limit orders) you needed to pay a monthly fee of about $8.
The rate is actually ~0.66% because it's taken in USD (0.5USD per 100AUD).
Also worth noting that you'll have to pay the FX on the way back to AUD if/when you end up selling, so you ultimately lose about ~1.32%.
Similarly Stake is 0.7 USD per 100 AUD in and out. You end up paying some how.
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a question: How does a custodian or broker chess holding affect tax when you buy or sell? Since you don't actually hold the shares yourself. How do you report on tax?