Superhero Reviews 

I lost $20,000 due to this platform. One of my stocks was delisted from NASDAQ and moved to OTC. Most brokers would typically sell stocks that transition to OTC if they don't support OTC trading. Unfortunately, this platform locked my account, preventing me from selling until the company went insolvent recently.

Not recommended. They will not allow me to set up an account for withdrawal. They do not comply with the advertised account setup instruction mentioned in the app and trading platform, and say they need 30 days to investigate when I complained via AFCA. All responses via anonymous tickets, more than 3 weeks taken so far without a resolution.

Great to be able to invest in share with part of your Super.
How ever Superhero lack in penny Share Company's to invest in,
As I like to invest in shares 5 cents to under a dollar shares. This is the best way and best chance to make your super grow, into solid penny Share Company's.
there are 100s of these Available.
So come on Superhero start and list these companyies to give us a fair go.
Gary

SuperHero makes it VERY DIFFICULT and TIME CONSUMING to withdraw your money, first you need to send them bank statements issued within the last 6 months, then you need to make a deposit into your Super Hero account using PayID. Comsec, Etrade and CMC Markets has NEVER made it so difficult for me to withdraw my OWN money. Don't use SuperHero, use Stake, they charge only $3 and you get a Holder Identification Number (HIN).

Having your own HIN is extremely important. Opes Prime also operated under a similar model to SuperHero. When Opes Prime went bankrupt, some customers had to wait up to 2 years before they could access their shares. Just Google Opes Prime BEFORE you start trading with Superhero.

First let me compare trading platforms to show the benefits of using two trading platforms simultaneously. I use another platform for Crypto (Ethereum) which I won't be talking about here. I will focus on Saxo and Superhero in this review.

Saxo
Saxo at the time of this review is a very good secure platform. It is my main trading platform for a few reasons. It releases investment information (including info on Crypto) during the day and every day so it is informative and up to date. It has a diverse range of stock investment opportunities globally including China. China is slowly overtaking the US as the economic power and it's good to be able to invest in China. There are no fees charged for being on the platform even when you are not purchasing stocks, so that's important. The only drawback I see at present with ONLY using Saxo is that Saxo will not always host ALL ASX stocks and their reason is, some of those ASX stocks do not have a meaningful market cap. That's fair enough but sometimes some of these ASX penny stocks will make an announcement which bodes well for the company and it might be seen as advantageous to buy while it is low. And that's where Superhero comes in.

Superhero
Superhero provides all those ASX stocks that Saxo (and other platforms) does not. However on Superhero one has to spend a minimum of 100 dollars AUD on each purchase of a stock which can end up being thousands of shares of a penny stock but that's OK if one has some confidence in that stock. But despite that 100 dollar minimum, Superhero is a great complimentary trading platform to Saxo. And if you are only interested in purchasing Australian and US stocks, then Superhero is a good platform. It could do with some tech upgrades including live charts, dark mode, and some other site improvements but from what I understand they are trying to improve. The fees for purchasing stocks are pretty reasonable on Superhero as it is on Saxo and on either platform there are no fees for remaining on the platform even when one is not purchasing stocks. That's important.

A few words of advice:

If you are new to trading, or an Australian trader (or international, it does not matter) who is interested in purchasing Australian (ASX) stocks, check out *ASX investor* on Youtube. ASX Investor does not hype or pump up stocks, but presents trustworthy intelligent information about companies. He often does deep dives into Australian companies so interested investors can make an informed choice. As of this date May 2022, the host of ASX investor has been doing a great job on lithium company stocks which are important today in relation to EVs. He seems like a good and trustworthy guy IMO. Smiles a lot haha :) My recommending his channel is not incentivised. I just wanted to save you some time and recommend quality information.

FWIW: My other advice to the new trader in particular is: Do your own research about trading platforms, & make sure they are secure and certified. Do your own research into companies you wish to invest in from a multitude of online sources. Youtube can be helpful to some extent but look into as many sources as you can and compare these sources and then make a well balanced (non-impulsive) decision. It's not gambling :) Join various company's sites and get their direct communication.

Don't be emotional about stocks (particularly crypto). Do lots of research into crypto from as many sources as you can. (Gareth Soloway from Verified Investing Crypto-> excellent ). Only spend what you are prepared to lose on any stock. Diversify your portfolio and see it as a dynamic investment, meaning that you just don't buy and forget. Read books and online sources on investing. Try to understand charts, and reading financial statements. You have to follow the day to day week to week. The market goes up and down. That's the nature of the market.

Beware of hype:
One other tip not related to the two platforms I mentioned here: If you are new to investing, try to avoid the hype of those sites who want to charge thousands of dollars for you to use their special charts, or to teach you how to trade using their charts. Many financially incentivise people write glowing reviews about these learning to trade type platforms online but they are not real reviews. I'm not going to mention what the name of one problematic site in particular is. You will probably start getting ads on social media for a number of these types of sites, but just keep that in mind. If it sounds too good to be true, it probably is. There's a lot of (join our educational platform to learn how to trade) sharks out there who will happily separate newbie traders from their money. So do your research thoroughly online. If you do that, you won't really be needing the grifty services of these sites I've warned you about. Happy investing. :)

I have recently started using Superhero. Sign up was amazingly fast and easy. I like the web interface though I miss placing limit orders that are valid for more than a day. It is amazingly fast to transfer the funds from your bank account using OSKO. On other brokerage platforms funds transfer can take two to three days.

I have only invested in ETFs in Aus and US and enjoyed zero brokerage. FX conversion fee (50bps) is competitive compared to other platforms, though I am not sure how competitive is the FX conversion rate.

For Aus Shares and ETFs Superhero only offers custody account (a practice common in USA) as opposed to CHESS account (unique to AUS) offered on other platforms. I have no concern with not having CHESS account.

So far, my experience has been pleasant, and I have recommended Superhero to family and friends. Platforms like Superhero are disrupting the excessive brokerage cost model (% based) of traditional platforms, thus encouraging new and younger investors to explore stock markets.

Superhero is limited to individual accounts. I hope that soon SMSF accounts could also be opened.

The service consultant was professional, fast, and friendly.

My experience with using this platform is nothing but praise. Having traded for decades using all sorts of bank/broker platforms this is by far the best.
The tax reporting reports are far better than the big banks where I have had to use differing platforms and manually process my trades.
It is great for beginners with excellent customer service.

Easy to use platform and good price for brokerage.
It would be good if the chart could expand to greater than 1 year.

The ease of use of Superhero is just amazing! On the few times I’ve needed support, it’s been resolved in minutes.

The team here a friendly, efficient and knowledgeable and go the extra mile to help.

Superhero is a fantastic application, I love the menu and tools.

I am finding it very good and is by the best I have used so far

Applied and approved within minutes. They now have a personal PayID so funds were in the account within moments as well to fund. Live chat response also only takes a few minutes. Miles ahead of the banks and other brokers in terms of speed to get people into the market faster and their web app UX is amazing, just need the Android/iOS apps released.

Don't even bother. Tried signing up, after trying to verify ID, Application locked me out, no one got back to me. Went on the "LIVE" chat and it was "closed" had to send a message, which no one ever got back.
Went online again, had to provide ID again - passport and driver's license had same name, still wanted another form of ID - due to "strict AML procedures". Opened bank products using those ID's just fine. Save yourself the frustration.

Better alternative to CommSec if you plan to buy sell frequently and for small parcels such as $100.

Deposit can take up to 1 hour and free version is completely fine. Just gotta use CommSec for live we quote.