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Why didn’t my recurring order trade?

The main reason your recurring order/s may fail is because you don’t have enough funds in your Superhero Wallet on the day your recurring order is due to execute. 

If you do not have enough funds in your account, we will attempt to re-submit your order on each subsequent day, until the order is placed.

Keep in mind that for recurring orders of Australian shares the minimum order size is A$100 or one whole share, whichever is greater, as Australian shares cannot be bought in fractional units.

For recurring orders of U.S. shares the minimum order size is US$10 and you will need to have funds already converted into U.S. dollars.

Can I auto-invest with Superhero?

Yes! Auto-investing can be set up within your Superhero account.

You can set up recurring buy orders for any Australian or U.S. share within Superhero:

  1. Log in to your Superhero account.
  2. Deposit funds into your Wallet (you can set up a recurring payment from your bank to your Superhero BSB and Account Number to automate this step).
  3. Find the share you want to invest in from the ‘Invest’ tab or the search bar and select ‘Buy’.
  4. Select the ‘Recurring Order’ option and set up your investment amount and schedule.
  5. Confirm your order.

You’ll be able to see your recurring orders in the ‘Pending Orders’ tab of your Dashboard.

Australian shares have a minimum of A$100 and cannot be bought as fractional shares and U.S. shares have a minimum of US$10 per trade. You will need to have these minimums in the correct currency before you set up recurring orders.

You can also set up automatic deposits from your bank account to your Superhero account to ensure you always have funds to cover your recurring orders.

Does Superhero lend securities?

No, Superhero does not lend out the holdings of customers, and never has. 

Securities lending is performed by some brokers where customers’ shares are lent out to other investors and firms for a fee. Securities lending can be used to allow these third parties to short companies.

Currently, Superhero does not consider the practice to be in the best interests of its customers.

When will I receive my AMMA/AMIT statements?

Attribution Managed Investment Trust Member Annual Statement (AMMA/AMIT) reports will be available when the data is received from the individual funds. For most funds this is within 3 months of the end of the financial year, however with some funds it may be longer.
These statements will be made available to you in the reports tab in your Superhero account.

How long will it take for my account to be verified?

We will attempt to verify your account during the onboarding process. If we are unable to verify your identity instantly, we may require additional information and verification may take a few business days.

We will notify you via email and/or SMS when your account has been verified and you’re ready to start investing.


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