Superhero Trading App is a popular Australian and US shares trading platform from Australia that allow users to invest with a minimum of $100 USD. If you want to invest in ASX & US Shares in Australia then read our Superhero Trading Review. Do many people want to know if superhero Trading is CHESS sponsored? we will get the answer below.
Along with US and ASX-listed shares trading app helps users with no-brokerage ETF purchases, and US shares and ETFs. It gains popularity gaining popularity by providing low-cost brokerage for buying Australian shares and zero brokerage for exchange-traded funds purchases.
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| Superhero Trading Review |
Also, In Australia minimum investment in ASX-listed companies should be $500 USD, so how it allows users to start with $100 only.
So, Is superhero trading safe? Well, let's know in this review.
Superhero Trading Review
In simple words, Superhero is an Australian Brokerage platform that allows users to buy and sell ASX & US shares and no-brokerage ETFs.
You can start investing in ASX-listed companies with $100 only and US shares. There is fix trading charge for an Australian share of $5 which is lower than its competitor.
Those who want to invest in US shares from Australia can easily invest and manage using this trading App. There are $0 brokerage charges on ETF trades, and shares listed on the NYSE and NASDAQ.
John Winters and Wayne Baskin are the Co-Founder & CEOs of the superhero trading platform. Now, You can find many investors in this brokerage platform.
Basically, you can manage both Australian and US markets using a single app at a reasonable price.
Trading Fees & Brokerage Charges
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| Trading Fees & Brokerage Charges |
- Australian shares trade at a flat $5 brokerage fee for all ASX stocks and ETFs for $5 at the time of selling ETFs.
- Invest in U.S. shares and ETFs for $0 brokerage on all trades and real-time FX transfers.
What is the Minimum Investment in Superhero Trading?
For Australian Shares, there is a $100 Minimum Investment amount and for the US Shares a $10 Minimum Investment amount.
As per Minimum Marketable Parcel (MMP) -
The ASX has defined that you must invest $500 (excluding brokerage) when buying shares in a specific company for the first time. This is known as the “Minimum Marketable Parcel” (MMP).
But, how does it allows you to invest just $100?
We will cover this in Is Superhero trading CHESS sponsored? part of this article.
Is Superhero trading CHESS sponsored?
Superhero Trading is not a CHESS Sponsorship platform because it works on the Custodian technique to save the shared database of users.
What! Let me explain this.
What is the CHESS System?
Australia's stock exchange ASX uses a CHESS system, in which all the records of who owns shares & when shares are bought or sold are stored directly on your name via your own personal HIN — Holder Identification Number.
As I mentioned, Superhero Trading does not provide you shares under your HIN means in the database you are not the legal owner because it does not directly link to the CHESS Sponsorship system.
Superhero uses a third-party company name Custodian which keeps records of your Australian shares in custody on your behalf.
Superhero Nominees Pty Ltd, which has a single institutional HIN, and you are the beneficial owner.
As the beneficial owner, you receive the benefits of the asset (proprietary interest in your investments and the income and rights attached to your investments) without legal ownership. The shares purchased within your account cannot legally be accessed by others, including claims from any creditors of the company in case its goes out of business. In that case, your shares could be transferred by you from their Nominees to another broker.
As a beneficial owner, it allows for reducing the minimum investment needed (normally $500) for ASX stocks to $100.
Now, I hope you understand how you are allowed to invest less than $500 in ASX shares.
Is Superhero Trading Safe?
Yes, Superhero Trading is safe to use because it is legally working as per regulation by the Australian Securities and Investment Commission (ASIC).
Superhero Securities Limited (ABN 96 160 456 315) holds an Australian Financial Services Licence (AFSL No. 430150). Superhero Markets Pty Ltd (ABN 36 633 254 261) is a Corporate Authorised Representative (CAR No. 1276309) of Superhero Securities Limited (ABN 96 160 456 315) (AFSL No. 430150).
Basically, It is safe.
7 Best Superhero Alternatives
So For some reason If you are looking for its competitors then here are some good 7 Best Superhero alternatives.
- Pearler
- Stake
- Commsec
- SelfWealth.
- Spaceship Voyager
- CMC Market
- Stockspot
Time for the conclusion.
Also read about Austrialia's trading platform called Webull Instant Deposit
Final Words
Finally, in our Superhero trading review, we got an overview of the platform and the minimum investment required for ASX and US Shares.
I tried to make it simple to understand whether Superhero trading is CHESS sponsored or not.
This trading app offers some good benefits that cannot be seen on any other Australian broker platform. You can find Zero brokerage charges on Australian ETF purchases, US Shares, and just $5 for ASX shares.
If you want to start your investment with $100 in Australian shares then you can try it.
That's it from our side.
Now, Let us know your thoughts in the comment section.
Which platform do you use in Australia for trading & investment?
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Disclaimer: The views expressed in this article are those of the writer alone and do not constitute financial advice. Advertisers cannot influence editorial content. However, do your own due diligence and seek professional advice before deciding to invest in one of the products mentioned. All information on this website is for general information only and should not be taken as constituting professional advice.
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