Superhero review: ASX share trading app

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Pay zero brokerage for ETFs and a $5 flat fee for ASX stocks.

Superhero is a share trading broker which charges a flat $5 brokerage fee for all ASX stocks and zero brokerage for exchange traded funds. With no monthly account fee for the Basic account and no inactivity fees either, Superhero is one of the cheapest share trading brokers in Australia.

Another key benefit of Superhero is you can invest as little as $100 per trade, which is much lower than the standard $500 minimum deposit for ASX trades.


Standard brokerage fee


Available Markets

Email, Live chat


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Type of broker Online only
ASX products Shares
Exchange traded funds
Available markets ASX
Standard brokerage AUD 5
Support Email
Live chat

Superhero Key features

Flat $5 brokerage fee for stocks

There's a low brokerage fee of just $5 for each trade you make. This is a flat brokerage fee too, so it's the same regardless if you make 1 or 100 trades in the month. It's also the same fee regardless of the value of your trade.

Zero brokerage ETFs

You don't need to pay a commission fee to invest in exchange traded funds (ETFs) through Superhero, making it one of Australia's only share trading platforms to offer zero brokerage on ASX products.

Access more than 2,500 ASX stocks and ETFs

You can trade all ASX listed stocks and ETFs with Superhero. This includes ASX listed property shares and listed investment companies (LICs) too. You can't trade any international stocks.

Invest with as little as $100

You can invest in Australian stocks and ETFs with a minimum investment of just $100. This is much lower than the standard minimum investment amount of $500 for Australian companies, as set by the ASX. Superhero is the first Australian broker to allow you to invest in ASX stocks from just $100.

Cash funds are held with NAB

Your Superhero Wallet within the app is used as your cash management account. This is where you can transfer funds so they're ready to then be used to place trades. The money in your Superhero Wallet account is held with NAB.

You can transfer money into your cash account via bank transfer using PayID, or via BPay.

Two account options to choose between

Superhero offers two account options: Basic and Live. The Basic option has no monthly account fee and minimal trading features, while the Live option does have a monthly fee however it offers a few extra features in return.

If you open the Live account when joining Superhero, you'll pay no monthly account fee for the first 30 days.

Basic accountLive account
Brokerage fee per trade$5$5
Monthly account fee$0$9
Inactivity fee$0$0
Fee to fund account$0$0
ReportingBasic reporting of your transactions and current holdings.Basic reporting of your transactions and current holdings as well as comprehensive tax, performance, dividend and franking details on your holdings.
Order optionsMarket order onlyMarket order and limit order
FeaturesFollow unlimited investments

20-minute delay on pricing and charts

Follow unlimited investments

Live pricing and advanced charts

What’s the catch?

While Superhero's standard account is very cheap, it doesn’t offer live pricing (20-minute delay) and it has limited trading features compared to some other share trading platforms. For example, the basic account has only one market order (no limit orders) and there's no comprehensive tax reporting.

To access more features, including a limit order option, live pricing and tax reporting you need to pay a $9 subscription fee for the “Live Account”.

How does it work?

Superhero's proprietary system is unique from other brokers. It allows them to reduce the minimum investment needed (normally $500) for ASX stocks to $100.

Essentially, Superhero uses a custodian model which is fairly common among brokers including Vanguard Personal Investor and IG, as well as by micro-investment apps such Raiz and Spaceship. This means shares bought on Superhero are beneficially held in your name.

According to Superhero's CEO John Winters, the custody model still uses the CHESS system however it utilises a single HIN on ASX’s CHESS system. Superhero’s tech consolidates settlements at the end of the trading day to reduce costs.

Pros and cons of Superhero


  • Very cheap brokerage on shares at just $5 per trade
  • $0 brokerage on Australian ETFs
  • Brokerage is flat, so it's the same regardless of how many trades you make or the value of your trades
  • No monthly fees on basic account
  • Start investing with just $100 per trade


  • No live pricing on free account (20 minute delay)
  • Minimal trading features
  • Can't trade international stocks or ETFs

How to open a Superhero account

You can open an account in just 10 minutes by following these steps:

  1. Go to the website. Head to the Superhero website.
  2. Register your details. Enter your name, email and phone number to start your account registration.
  3. Verify your identity. You'll need to supply your Australian passport, driver's license or Medicare card details.
  4. Fund your account. Once Superhero has verified your identity, you can transfer money to your Superhero Wallet via BPay or PayID and start trading. You'll find these details by navigating to your Wallet in the app.

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