Alternatives to Superhero
Superhero is known for low-cost trading on both ASX and US markets, with brokerage starting at $2 and no monthly platform fees. It uses a custodian model rather than CHESS sponsorship, which keeps costs down but means shares are held in Superhero's name rather than yours. If you want direct CHESS ownership, dividend reinvestment, or access to options trading, you might be looking for an alternative. We've listed 6 platforms below that offer different features worth considering against Superhero.
CHESS-sponsored with auto-invest and DRP, plus a community-focused approach for long-term investors.
- ASX brokerage minimum
- $6.5(Superhero: $2)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- mixed(Superhero: custodian)
CHESS-sponsored ASX trades from $3 and US fractional shares, bridging low cost with direct ownership.
- ASX brokerage minimum
- $3(Superhero: $2)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- mixed(Superhero: custodian)
CHESS sponsorship with ASX trades from $1 and zero-commission US shares, plus options trading.
- ASX brokerage minimum
- $1(Superhero: $2)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess(Superhero: custodian)
CHESS-sponsored with commission-free US shares and 14 global markets for broader international access.
- ASX brokerage minimum
- $11(Superhero: $2)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess(Superhero: custodian)
Zero brokerage on ASX shares and Vanguard ETFs, ideal for low-cost passive investing.
- ASX brokerage minimum
- $0(Superhero: $2)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- custodian
CHESS-sponsored micro-investing from $50 with auto-invest and DRP, backed by CBA.
- ASX brokerage minimum
- $2
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess(Superhero: custodian)
Common questions
Why would I switch from Superhero to a CHESS-sponsored broker?
Superhero uses a custodian model, meaning your shares are held in the platform's name. With a CHESS-sponsored broker, shares are held in your own HIN under your name. This gives you direct ownership and faster transfer if you switch brokers later. It's a key difference for investors who want full control of their holdings.
Does Superhero offer dividend reinvestment plans (DRP)?
No, Superhero does not support DRP. If you want dividends automatically reinvested into more shares, you'll need a broker that offers this feature. Several CHESS-sponsored platforms include DRP as a standard option, letting you grow your holdings without manual reinvestment.
Can I trade options on Superhero?
Superhero does not offer options trading. If you're looking to trade options on ASX or US markets, you'll need a platform that supports them. Some brokers in Australia provide options trading alongside standard share trading, often with competitive brokerage fees.
What are the downsides of Superhero's custodian model for US shares?
With Superhero's custodian model, you can buy fractional US shares, which is a plus. However, you don't get direct ownership of the underlying shares. If you prefer holding US stocks in your own name, a broker offering direct US share registration or CHESS sponsorship for ASX holdings may suit you better.