How do I vote at a company’s AGM?
Australian-listed companies each conduct an Annual General Meeting (AGM) where shareholders can participate in decisions such as electing new directors to the board and other resolutions relating to the company’s business.
If you would like your vote lodged at a company’s AGM, you will need to reach out to our team via chat or send us an email at hello@superhero.com.au at least 4 business days before the meeting commences.
What is a Limit Order?
A Limit Order is an order to buy or sell a certain number of shares for a specified price (or better).
Limit Orders expire 30 days after you place the order.Â
How do I place a trade?
You need to add funds to your Superhero Wallet before you can trade.
Once your Wallet is funded, you can search for a share or go to the ‘Invest’ tab to find and click on the share you wish to buy or sell.
Does Superhero receive payment for order flow?
While it is not a requirement to disclose any arrangement for receiving payment for directing order flow, Superhero currently has no such arrangement and does not receive compensation for Securities transactions executed through designated exchanges, market makers, dealers, or market centres.Where permitted under applicable laws and rules, Superhero reserves the right to receive remuneration for directing orders in Securities. We will notify you in writing of any change to these arrangements.
How will I know when my order has been placed?
Once your order has been executed we will send you a text message or push confirmation.
Where can I find the Trade Confirmation for my order?
Once your order is complete, you can find your Trade Confirmation listed in the Activity tab, by clicking the dropdown next to the transaction and clicking on the pdf button.
Can I amend my Order?
No, Limit and Market Orders cannot be amended once they are placed. If you would like to change your order, please cancel it and replace your order. Market Orders will usually execute immediately.
You can cancel your order under ‘Dashboard – Pending’ and then click on ‘Review’.
Can I cancel my Market/Limit Order?
Market and Limit Orders can be cancelled provided the order has not already been executed. Market Orders usually execute immediately.
You can cancel your pending order any time under ‘Dashboard – Pending’, then click on ‘Review’ and then ‘Cancel Order’.
Why was my order cancelled?
Cancelled orders can be found under ‘Pending’ in the Dashboard. Your order may be cancelled for a number of reasons, including:
ASX and Chi-X Operating Rules and ASIC Market Integrity Rules – All orders must be entered in accordance with the ASX and Chi-X Operating Rules and the ASIC Market Integrity Rules. These rules ensure that the market operates in a fair, orderly and transparent manner.
In instances where these rules may be breached your order may be cancelled. The cancellation of orders under these circumstances is usually at the discretion of our Market Participant. ASX or Chi-X may also cancel orders at their discretion.
Examples of where action may be taken by regulatory bodies, include circumstances where there is suspected market manipulation, insider trading, or extreme price movements that create a disorderly market.
Market Participants and Superhero’s Trade Vetting Rules – To ensure a fair, orderly and transparent market, Superhero and our Market Participant have obligations to ensure orders do not breach any market Operating Rules or the ASIC Market Integrity Rules.
To meet these obligations, Superhero and its Market Participant have Trade Vetting Rules in place which may cause an order to be cancelled prior to it reaching the market. This occurs where it is detected that an order may breach the above rules and/or cause a disorderly market.
ASX and Chi-X Order Pricing Rules – Price steps are the minimum price multiples for a security. The multiple depends upon the market price of the security. The ASX price steps for shares are:
* Up to 10c, the price steps are 0.1c
* Over 10c up to $2.00, the price steps are 0.5c
* Over $2.00, the price steps are 1c
You will be unable to place an order if it is not input with the correct price multiples for a particular security.
For example – If BHP is trading at $17.65, its price steps are one cent. You may enter an order at $17.66 or $17.81 etc.
Corporate Actions – Orders are removed from the market (purged/cancelled) when the market closes on the day prior to a corporate action event that affects the value or structure of the unit holding.
Some examples of corporate actions are: dividends, capital returns and capital reconstructions; or share offerings such as a rights issue or share purchase plan.
Expired Orders – If your order does not trade on the day you place it, it will expire 30 days after you place the order.
Are my orders executed in real time?
Your trades are executed in real-time during market opening hours.
ASX 10:00am – 4:00pm Sydney Time
U.S. 9:30am – 4:00pm U.S. Eastern Standard Time (EST)
You will always get the benefit of our Market Participant’s Best Execution Policy.
