Look out Wall Street, punters from the land down under are on the way. Aussie share trading platform Superhero recently announced it will let users buy and sell US shares, as the propensity of younger Australians to play in the stock market continues to rise. The FinTech startup confirmed this week it’s partnered with Apex Clearing Corporation to manage its US brokerage, custodian and execution services.
Superhero first launched in September last year, offering $5 brokerage on ASX shares and free trades on ETFS. The company gained popularity due to a low barrier of entry compared to other traditional brokers, offering a minimum investment of $100. Plus, it also provided fractional share trading, allowing new and younger investors to spend smaller amounts.
Off the back of the pandemic, many everyday Australians began to invest in the stock market, making it an easy decision for Superhero CEO John Winters to offer US stocks. “There’s been consistent growth in demand and interest,” he said. “People are turning to shares more and more and it’s broadening throughout society. It’s not just the wealthy looking at this anymore, it’s everyone.”
With the company swelling to around 80,000 customers in less than a year, younger investors have played a significant role in the latest retail investor boom, searching for new ways to splash their cash in the 21st century financial climate. Research undertaken by Superhero indicates 4 out of 5 Australians under 45 believe home ownership is out of their reach, but nearly 75 percent of people in that age bracket already own or are interested in owning shares. “The past few years have seen a real shift towards investing in both Australian and U.S. shares, particularly from people aged in their mid twenties to mid forties,” Superhero co-founder and CEO John Winters said.
If you’re looking to take your investing international, Superhero customers can now invest in over 4,500 U.S. shares and ETFs through their app with $0 brokerage. To begin trading, you can simply login to your regular account and transfer funds to USD into your Superhero wallet.