Summary:
Superhero.com.au markets itself as a low-cost, beginner-friendly stock trading platform offering Australian and US shares. However, due to their unregulated nature, high FX fees and order execution practices, and issues with custodial ownership of shares, it leads safety concerns. This article will examine the platform, users’ experiences, safety concerns, and pricing.
What is a Superhero?
The Australian company Superhero Markets Pty Ltd was established in 2020. It provides a trade in Australian and US shares and is characterized as having a low cost of entry. Some of the features that stand out to users are:
- $2 flat fee for Aussie shares (up to $20,000)
- USD 2 flat fee for US shares (up to $20,000)
- Fractional US shares
- Auto Invest option
Despite its appealing price point, many users have questioned its reliability and transparency.
Website – http://superhero.com.au/
Address – Level 4, 82-88 Elizabeth Street Sydney NSW, 2000, Australia
Superhero Review: Pros and Major Concerns
Is Superhero CHESS-Sponsored?
No, Superhero is not CHESS-sponsored. It also uses a custodian model where the custodian’s name is the shares are held, not yours. This allows investors to invest for low $10 minimums, but the custodian model has raised issues with ownership and security.
Superhero com au Review Trustpilot
- Rating: 1.9/5 (Poor)
- Users complain about hidden fees, delayed withdrawals, and poor customer support.
Superhero Trading Review Reddit
- Complaints on limit order execution issues
- A common example:
- Set stop-loss at $3
- Trade executed at $3.10
- Resulted in missing an 11% potential gain
- Some users feel that the platform ignores limit instructions, affecting trading strategies
Regulation Risk
Superhero has no legitimate regulation. This significantly raises the risk for investors, as there’s no official regulation to secure users.
Is Superhero Safe?
The custodian model and the absence of regulation compromise investor safety. Contrary to CHESS-sponsored brokers, your assets are not registered directly in your name, which restricts your legal ownership.
Bullet Summary
- Not CHESS-sponsored: Uses custodian model
- No regulation: Increases risk
- Excessive FX charges: up to 0.93%
- Negative user reviews on Trustpilot and Reddit
- Login issues: Reported frequently
FAQs
Q: Is Superhero CHESS-sponsored?
A: No, it uses a custodian model.
Q: Is Superhero regulated?
A: No. Superhero has no valid regulation, which is a major red flag.
Q: Is Superhero login secure?
A: Users have reported frequent login issues, impacting trust and accessibility.
Superhero Scam: Should You Be Concerned?
The “Superhero scam” becomes a regular topic of discussion on social forums. Although not an established scam, valid issues include:
- Unregulated
- Excessive FX fees
- Poor trade execution
- Custodian ownership model
- Trustpilot and Reddit complaints
If you depend on proper limit order execution or prefer regulatory protection, Superhero will not be your best choice.
How to Get Your Money Back from Scam Brokers
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Disclaimer: This review is based on online reports and customer complaints. Always research carefully before investing with any broker.
