Superhero Reviews 48

I'm new to the stock market but found Super Hero is very easy to use. Great platform with just $2 fees. I would recommend this platform. But they don't send email confirmation of sell/buy which I found little weird.

They have reeled in small scale investors like me with zero fee trading in ETFs, then quietly added a $2 per trade fee when no-one was looking. I was looking. A sneaky $2 fee to buy $150 of ETFs makes a snatch for most of the gains to be made in the first year. This investor is out, I have moved my holding over to Betashares who continue to support the little guy.

Great trading site, easy to use, not sure on my why all the whining on here from others.

Selling trades and obtaining funds the same as for Comsec from which I transferred to Superhero, with the exception of much lower fees on this site.

App very easy to use and the documentation easily downloaded from the site for taxation etc.

Any queries have been handled very promptly by staff via email.

Try it, nothing but praise for the creators of same.

Bait-and-switch. Well there you have it folks. Just like Stake, Superhero have done the classic bait and switch. Zero cost trades for ASX ETFs and US stocks now removed. This by the way is after the head of superhero stating publicly they wouldn’t follow Stake with the classic bait and switch. Lure everyone in and then start with adding more and more fees.

It's not a bad platform, but it has woeful transfer times. You sell a stock and then wait 2 days for your money, then wait another 2 days for the funds to be transferred into your bank account. I guess this is why the financial system, as we know, is collapsing.

Oh and don't let me forget to mention the FX fees. $400 in fees to transfer some USD to AUS.

my super was tranfered here with out me even being warned they changed my login details now im trying to get my own account back shocking.............

Based on 28th March 2024 experience:

Recently I signed up for a new account with Superhero and during identity verification process my application was held up due to name mismatch in my Medicare and DL. I was asked to contact Support and when I contacted them via chat (as Trading account holders cannot reach by phone yet), I was asked to upload my Passport copy so they can manually verify and let me use their Trading platform.

They informed me that in a few hours I would be able to get a verification email and after that I can continue to use their platform. No such verification email reached me.

In a nutshell, I found the customer service lagging. Setting expectations would help and being communicative about it during the sign-up process will ensure trust.

After a frustrating user interface experience with Raiz Invest, I switched over to Superhero, as they offered a competitive pricing model. They don't charge for buying ETFs and also no monthly fees. This was quite attractive to me. Btw, this can potentially change in the near future (shrugs).

I find their web interface pretty cool. The wordings are not at all confusing and straightforward. You choose how much you want to invest in an ETF of your choice. They pretty much list all ETFs / Shares traded on ASX. I haven't fiddled with their US based listings. So, I am unable to comment.

Crunchbase information tells me that the company is in seed round with 48 million in investment and a new team has been hired to ramp up operations. They have been in operation since 2019 and relatively young.

So, use your own judgement. I hope they will be in business for long and offer a competitive pricing but this could change depending on the market circumstances.

*NOTE* I have revised my rating of Superhero from earlier 4-stars to 2-stars.

This section is based on 6th Jan 2025:

Their customer experience for individual ETF / equity investors hasn't improved at all. They operate a lean team that probably services a lot of customer queries at the same time and the online chat experience is sub-par. They do not offer a direct phone line to get in touch with a support personnel.

As you would know that after a brief promotional period when they did not charge any brokerage fees for equity/ETF purchases or recurring orders, they started charging $2 per transaction. Though this might be the lowest, I think BetaShares offers a no charge fee for the purchase and sale of ETFs and a subset of equities.

Superhero needs to improve is customer handling experience. They are robotic in their reply and dish out canned messages without understanding the situation or the perspective of the customer. They will stick to their ground even if it is due to a slow backend operational process at their end which resulted in funds not being available on time for an auto-purchase or purchase at the online frontend.

There is no 2-factor authentication for login - which is an issue for me although they use a transactional PIN for the purchase/sale of equities/ETFs.

I want to share my experience with Superhero's superannuation service, which has been frustrating and stressful, to say the least. I had my superannuation account with them for a couple of years and decided it was time to switch to a different fund.

The process, however, turned out to be incredibly challenging. My attempts to communicate with Superhero through support tickets were met with silence; my emails remained unanswered, and phone calls provided little to no help. It took over two months to finally transfer my superannuation to the new fund. Given the significant amount of money typically involved in super accounts, this period was exceptionally stressful.

To this day, Superhero has not responded to my last email, although they eventually processed the transfer. The lack of communication and support throughout this process was alarming.

Based on my experience, I would not recommend using Superhero for managing your superannuation. The potential stress and uncertainty it may cause are not worth the risk.

Extremely poor response time. 16 days to transfer shares from issuer sponsored to broker sponsored with superhero. Their excuse "sorry we are really busy".

New small company compare to it's competitors. Hidden fees, so don't fall for their "low fees" marketing scheme. Extremely incompetent staff, poor customer service with low morals & ethics.

Really easy to use and intuitive. I tested each element before loading up too much. It’s easy to send money to your wallet (arrives instantly) and easy to buy. I see lots of ppl complaining about withdrawing. It worked seamlessly for me. I used the live chat to ask about tax forms. I got a real person who could help pretty quickly.
Only problem is, it’s so easy to check prices, I need to learn to put it down and remind myself it’s a long-term prospect :)

Hidden fees.
And they're way too expensive.

Very difficult to withdraw money still unable pay I’d not registered with ANZ bank still waiting for money

Have requested for 8 weeks the release of my super, still no communication!

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.