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How does Superhero make money with $0 brokerage for U.S. trading?

Superhero makes money by charging an FX Transfer Fee when you transfer funds between Australian dollars and U.S. dollars.

For more information on our fees, please see our Fee Schedule.

Will I be subject to withholding tax for U.S. trading?

In some cases, tax may be withheld on your account. Tax is typically only withheld on dividends, income and interest.

The rate of withholding is dependent on information you provide relating to your citizenship, country of tax residency, tax file number, or international equivalent, and if there is a tax treaty between the country you are a resident of and the country that is the source of your investment income.

Are there U.S. SEC and FINRA fees charged on my U.S. share trades?

All orders for U.S. securities are subject to U.S. Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) related fees & charges. These fees are included in the order value as part of your transaction.

Which company places my U.S. trades in the market?

Superhero has partnered with Apex Clearing Corporation LLC to manage its U.S. brokerage and execution services.

Apex Clearing is registered with the U.S. Securities and Exchange Commission (SEC), is a member of Financial Industry Regulatory Authority (FINRA) and is a participant in the Securities Investor Protection Corporation (SIPC). This protects every Superhero customer that holds U.S. securities for up to $500,000 (including $250,000 for claims for cash).

How are my U.S. shares held?

The U.S. shares you hold in your Superhero Account are held by Apex Clearing Corporation LLC (Apex) on your behalf as custodian.

Apex does not acquire a beneficial or proprietary interest in your securities or cash, or the income and rights attached to your securities.

For clarity, beneficial ownership means that you, the owner of the shares, gets the direct benefit from the shares. Direct benefits include dividend payments, capital gains, etc.

The shares purchased within your Superhero account are yours and cannot be accessed by others, including claims from any creditors of Superhero or Apex.

Please see Safety of Customer Assets at Apex Clearing Corporation document

How are my U.S. shares protected?

Please see Safety of Customer Assets at Apex Clearing Corporation document

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