New app: Superhero
Superhero is a new stock trading app with $5 trading fees. Before Superhero, Selfwealth was the cheapest broker in Australia for trading ASX shares. They charge $9.95 per trade.
The only downside of using Superhero is you don’t get your own HIN. This identification number is used to transfer shares between brokers. So if Superhero disappeared, it might be more difficult to move your shares to another broker.
Personally, I don’t think that is likely to happen.
I’m really excited to see more broker competition in Australia. Now we just need a competing stock exchange to push down the fees that the ASX charge.
Offer of the week: Get $20 free on Cashrewards
CashRewards allows you to earn cashback on your online and in store shopping. You basically get a little bit of money for doing the shopping you’re already doing. There really is no downside to using a Cashback app.
You can find out more about the Cashrewards bonus here.