If you’re confused about investing or just want to streamline how you do it, Superhero is here to “give trading a kick up the ASX”. Big call, so let’s find out how.
First things first: investing in the sharemarket is for everyone. Not just people who work in the financial sector or have an uncle who thinks he knows a thing or two about building a great portfolio.
There are more than six million Australian investors who own shares – and that’s outside of superannuation and property.
Over the past two years, millions have taken up equity investment for the first time – in fact, new investors now make up more than 24 per cent of all investors. And it’s those aged between 24-40, yes, Millennials, who are leading the charge, and a growing number of women who are taking control of their financial future. You don’t need hundreds of thousands of dollars and a top broker to start your investment journey – all you need is $100.
So that leads us to Superhero, an online trading platform and app that is proving to be popular among those who want to start trading on the ASX. How? Here are the five things you need to know.
1. Superhero lets you invest in ASX shares for $5 a trade
Superhero charges a flat brokerage fee of $5 on all ASX (Australian Stock Exchange) trades, with no monthly account fees. It’s also free to sign up.
The great news is that ETFs (exchange-traded funds) – are free to buy, and $5 to sell.
Side note, because we don’t have time for jargon: an ETF is basically a basket of shares or assets that can help diversify your portfolio. They’re becoming increasingly popular for people who want to invest but are unsure of where to start.
At $5 a trade, Superhero is the cheapest flat-fee platform in Australia. To put this in perspective, some of the better-known platforms charge $19.95 per trade, with a minimum trade limit of $500. With Superhero, you can start investing from as low as $100 (plus $5 brokerage).
So, Superhero is shaking up the online broker space by making it easier for budding investors to get into the market.
2. It’s earned a cult following in a short period of time
More than 60,000 Australians have signed up to the platform since its launch in September 2020. It’s been a flying start for co-founders John Winters and Wayne Baskin, who together have a unique mix of finance and digital know-how.
Winters worked at wealth management firms Macquarie Bank and Shaw and Partners and helped Zip Co launch on the ASX in 2015. Baskin is the Deputy Chief Executive Officer at online retailer Booktopia, and was ranked number six on Inside Retail’s Top 50 People in E-Commerce in 2021.
3. Reporting features that put the power in your hands
You can keep tabs on your investment performance or companies you’re crushing on through Superhero’s easy-to-understand, user-friendly performance dashboard. So if your passion is, say, renewable energy or tech stocks, all the info is laid out in a transparent way so you can track your movements with ease.
When tax time comes around, Superhero has you covered. You can easily view your gains and losses and download a simple report that summarises it all for you, no headache needed.
Both the desktop and app versions of the platform give you real-time market data with current prices, news and info to help you make your decisions.
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4. Superhero gives you premium features with no fees
There’s no ‘basic’ versus ‘advanced’ version that you have to pay extra for. You can join Superhero for free in a matter of minutes instantly and get access to all of its features straight away, including live market data, advanced orders and comprehensive tax reporting.
Getting started is also super easy – you can use your PayID to transfer money from your regular bank account into your Superhero Wallet. This will fund your account in minutes, allowing you to sign up and place your first trade in the same day.
If you’ve invested before, Superhero also gives you the ability to move all or some existing shares into your Superhero account free of charge. It’s like giving your shares the Kondo treatment, without even hiring Marie Kondo for the job.
5. Don’t worry, it’s secure
Superhero offers two-factor authentication and the same level of encryption that the big banks use. Plus, your shares are held under a custodian structure, which means you retain full beneficial legal ownership of them; not Superhero. It’s your money, your move.
Want to give it a go? Download Superhero to get started.
This content is brought to you by Your Money & Your Life in partnership with Superhero.