Superhero Trading Review 2023

Superhero Trading Review 2023
Superhero Trading Review 2023

The Superhero trading platform is a share trading app that is geared towards the younger generation of traders. It offers the same features as a conventional online brokerage but with a cheaper cost. Unlike other online brokerages, it does not charge an account fee for live prices.

With Superhero, users can trade in shares and ETFs. They can also view reports, monitor performance, and track their trading activity. For instance, they can see how their portfolio is performing, how many trades they have made, and what their average portfolio return is. You can also set limit orders or market orders.

The platform’s main draw is that it uses automation to make the process easier for investors. This is a big plus for the new generation of traders who may be unsure of how to invest. However, it does not provide all of the tools necessary for sophisticated research. Some of the features are lacking, such as buy and sell ratings, technical analyses, and dark mode. Also, Superhero does not offer riskier asset choices. Nonetheless, it does provide a reliable platform for small investors.

To create an account with Superhero, you will first need to provide personal details such as your Australian ID and bank account information. Once your information is verified, you can fund your Superhero account with funds from your PayID or BPAY bank account. If you have a super fund, you can also use that to fund your account.

Superhero provides access to over 7,000 different US shares and ETFs, but it has a limited offering of stocks in Australia. However, with an account, you can get $0 brokerage on US shares. In addition, it provides real-time FX transfers for US shares. Moreover, it allows you to trade market orders.

Aside from investing in shares and ETFs, Superhero users can trade in LICs and LIC-equities. It also allows users to track their tax liabilities. Lastly, it offers a dashboard that shows how the portfolio is performing, its overall value, and sector diversification.

The Superhero trading platform uses the ASX’s CHESS database. It also uses a custodian arrangement for beneficial ownership. Hence, it is important to confirm your identity to prevent fraud. Additionally, you will need to set a minimum investment of $100 per stock to start trading.

Superhero is an automated investment platform that aims to make the process of investing simpler and more accessible for the retail investor. In addition to offering affordable online brokerage, it also provides comprehensive reporting and high level encryption. Nevertheless, it is not suitable for advanced investors.

One of the biggest drawbacks to Superhero is its fees. While it provides free brokerage on US share and ETF transactions, the fee for international currency transfers is relatively high. Therefore, a significant portion of your profits may be eaten up by these costs.

If you are considering opening an account with Superhero, it is best to consider your needs and the type of investments you wish to make before signing up. Moreover, you should consult a qualified financial advisor before making a final decision.