Superhero: The best share trading platform in Australia?

By   |   Verified by Yvonne Taylor   |   Updated 10th February 2021

Superhero hero
  • Trade in over 2,500 ASX-listed products for a flat $5 fee.
  • Invest as little as $100 per trade – great for beginners.
  • Option to upgrade to a monthly fee-paying account with more features for experienced share traders.

Superhero is a share trading platform and one of the latest fintech brokers to be introduced to the Australian investment market.

Charging zero brokerage for exchange-traded funds (ETFs) and a minimal $5 for all ASX stocks, the Superhero app is one of the cheapest brokerage platforms available today.

Find out how Superhero stacks up against its competitors, and how you can quickly become a user.

What is Superhero?

Superhero provides all the tools you need to make share investments and put your money to work for you. You can start by investing as little as $100, and there's a dashboard that allows you to access your portfolio at the touch of a button. Their policy? Your money, your move.

Other handy tools include a share trading wallet to keep tabs on your cash flow and a handy reports feature, which promises to help traders track their performance like a pro. All of this is possible via the share trading app.

In a nutshell, it’s accessible, easy to understand, affordable and secure, which makes it an ideal option for those looking for a no-nonsense share brokerage product.

Who is Superhero designed for?

Superhero is popular with a new generation of young traders, keen to take advantage of super-cheap online brokerage costs and invest in the sharemarket at a time when bank interest offers such a small return.

Superhero’s goal is "to make investing accessible and understandable for everyone" – no matter if you’re a first-time investor or a seasoned trader.

Check out our list of Australia's top personal finance apps and manage your money like a boss.

How does Superhero work?

One of the major features offered by Superhero is the power to trade over 2,500 ASX-listed products in amounts less than the standard broker's limit of $500 per trade. The only other broker on the market to offer a similar feature is Commsec Pocket, and its low-value trading account is limited to seven ETFs.

Superhero, on the other hand, invites investors to trade on any ASX-listed stock. Users can easily keep tabs on their cash flow and shares using the Superhero Wallet, whilst the two-factor authentication and high-level encryption make this an extremely secure brokerage platform.

Two account options

With a Basic account, Superhero allows ASX-listed stocks to be traded for a minimal $5. One limitation of the basic account is that investments can only be bought at market rate.

This means when you put forward a buy or sell order, you won’t know exactly what price they will trade for. Instead, the floating market rate will be applied at the time of settlement.

Those wishing to set trades to perform at a set price can upgrade to Superhero’s premium membership product, the ‘Superhero Live’ account. This costs $9 per month and includes a one-month free trial, but is currently free until 30 June 2021.

If you're investing to hold onto your stocks rather than regularly trading them, you won’t require this additional functionality. The Live account is more suited to experienced share traders.

Basic account

The Basic account allows users to follow the operations of a total of five investments, and includes the following product features:

  • Low cost trades with a flat brokerage fee of $5, free when investing in ETFs
  • Market rate orders only, with no option to set prices
  • Follow the market by keeping tabs on up to five stocks
  • Real-time access to market data, but pricing data and news is delayed
  • Basic reporting of your transactions and stock holdings
  • Zero account-keeping fees, so you only pay for trades

Live account

The Superhero Live account features no restrictions, allowing users to track as many investments' ‘tickers’ as they desire. This advanced product also offers a heightened reporting and tax functionality, which includes realised and unrealised gains, tracking tax obligations, franking credits and dividends. Benefits comprise:

  • Everything the Basic account offers
  • Advanced ordering, including both market orders and set price limit orders
  • Real-time market data, including live pricing and news
  • Comprehensive reporting of your portfolio performance, tax obligations, dividends, franking credits
  • Free until 30 June 2021
  • $9 monthly fee thereafter, charged annually

How much does Superhero cost?

Superhero offers a flat fee of $5 per trade on the Australian Securities Exchange, with ETF trades always free. This fee stays the same, whether you make 1 or 100 trades monthly. It's also the same whether the amount of your trade is $100 or $10,000. Compare this with traditional online brokers who charge around $20 per trade for lower-value orders, rising to as much as $50 or more for large trades.

So what's the catch? The Basic account has limits, but these may not be a problem for the typical investor. And for seasoned traders, $9 per month is a substantially lower cost than other similar brokerage fees, which can be as high as around $100 per month.

Other costs include a $1 fee to BPAY into your account, but PayID transfers are free. There is also a fee of $55 to transfer stocks in and out of your Superhero custodian account (that is, moving shares other than by buying and selling them via Superhero), which is industry standard.

What can you trade with a Superhero account?

With a broad selection of options to select from, users can afford to invest in what they’re interested in. Trade choices include:

  • Over 2,500 shares and ETFs
  • ASX-listed shares
  • Listed property shares in Australia
  • Listed investment companies (LICs)
  • ETFs (invest in ETFs to get broad exposure to market sectors, industries, and a range of investment themes)

How do I sign up?

Getting an account with Superhero is quick and easy. First, you’ll need to visit their website. Once you've completed the registration process by providing ID and contact details, your Superhero bank account can be funded instantly using a PayID bank transfer.

Users can then select the ETFs or shares they want to invest in. Signing up takes less than five minutes. Conventional trading apps onboarding processes can take far longer to complete.

Pros and cons


  • Low fee. Flat $5 fee no matter the size of the trade or how many trades you make, with ETFs traded for free.
  • Low minimum investment. Start and continue with as little as $100 per trade.
  • Simple registration process. It takes only a few minutes to supply details like your phone number, email, name, date of birth and residential address, create a password and confirm your identity.
  • Easy-to-use platform. Sleek and hassle-free, suitable for both beginner investors and pros.
  • No monthly fees unless you opt for the Live account.
  • No fees to deposit funds to your account if you use PayID.
  • Secure. Superhero uses two-factor authentication and the same level of encryption that banks use. Funds in your Superhero wallet are held in a NAB cash management account.


  • Basic account has limitations, including no option set prices (i.e. market price trades only), delayed pricing data and news, and the ability to follow market data in only five stocks.
  • $9 monthly fee for upgrade to Live account (still lower than many competitors).
  • $1 fee for using BPAY to transfer funds into your Superhero Wallet.
  • No stock analysis to guide your trading decisions.
  • Your investments are held in a joint custodian account ('omnibus' account) so you don't have your own HIN (Holder Identification Number) with CHESS (Clearing House Electronic Subregister System).

Alternatives to Superhero

You won't be surprised to hear that Superhero is not the only new kid on this particular block, so before you make your decision you may want to check out the competition, including:

  • SelfWealth. Trade not just on the ASX, but also NASDAQ and NYSE, for a flat fee of $9.50 per trade.
  • Stake. Access to the US sharemarket for Aussies, with commission-free trades but currency conversion and funds withdrawal fees.
  • Commsec. ASX and US stocks available, as well as London and Tokyo and other international exchanges. $10 fee for Australian trades up to $1,000, higher fees for larger Australian trades and international transactions.
  • Pearler. Online trading platform aimed at the long-term investor, with automated investment and goal-setting options. Transaction fees start at $9.50.
  • CMC Markets. Trade in ASX and global stocks. ASX fees start at $11 or 0.1%, and decline if you make more than 10 trades in a month. Transactions in US, UK, Canada and Japan are commission-free, but fees are high for other countries.
  • Stockspot. Automated investment in Australian and global ETFs suited to your chosen risk profile. Monthly fees start at $5.50 for account balances of $2,000-$10,000, and rise once you pass the $10,000 mark.