Low cost trading platforms

Hi all,

Has anyone had experience with Superhero which claims to provide free ETF brokerage and $5 brokerage on ASX shares? I would be keen to understand your experience with this platform.

It looks fairly new. Drawbacks as I see are Broker HIN holding, Individual accounts only, BPay payments have a small fee attached (but not currently available) otherwise have to use PayID which has small daily limits when transferring, Basic account can only transact market orders, Premium account has limit orders but you pay $9/month and get live data, Orders remain active for 30 days, cannot put order on for + or - 10% from current price, they say you have full beneficial ownership of shares but do not say the same for your cash in a pooled account.

Yes. I’ve tried it. … I think it’s fine for short term trades as it is $5. on the chart it shows where you bought and sold it. … if you plan to keep a stock for years , then having an individual hin is better so it can be transferred if required. … To log in, they have these test to ensure you’re not a robot.
To approve a trade it sends an SMS to your phone and you have to put the pin in.