Announcing the move on Tuesday, Superhero said New Zealand investors can now trade Australian and US listed stocks on the platform, while the ability to trade New Zealand stocks is on its way.
Superhero’s chief executive and co-founder, John Winters, said: “We are incredibly proud and excited to be launching Superhero in New Zealand today. We know that New Zealand is a population of incredibly engaged investors, and we can’t wait to support them in growing their wealth.”
The platform will offer zero-dollar brokerage on and 0.5 per cent foreign exchange fees for US trades, and $5 brokerage and 0.5 per cent foreign exchange fees for Australian trades.
“Since launching in late 2020, Superhero’s focus has been value and providing better options than what the incumbents have offered investors — and we’re excited to do the same in New Zealand,” said Mr Winters.
“Our goal is to give investors in New Zealand the opportunity to invest without prohibitive costs or complicated pricing models.”
Superhero added that NZ investors will have access to the platform’s portfolio-reporting features, as well as real time currency transfers and Superhero’s referral program.
Superhero’s chief technology officer and co-founder, Wayne Baskin, said: “It’s very important to us that our investors in New Zealand have the same great experience as our Aussie investors. It’s part of the reason we’ve invested so strongly in our technology, to ensure we’re building a platform that we can add features to meet the needs of modern investors.
“For us at Superhero, our goal is to grant all Australians and New Zealanders access to investing opportunities, regardless of age, status, income or circumstance. We want to keep costs down and provide a user-friendly platform on which investors can grow their wealth.”
In December 2022, Superhero underwent a demerger with digital currency exchange Swyftx. Superhero said it was due to “volatility in the market” as well as the current regulatory environment, which Mr Winters said, “made it increasingly difficult to achieve the initial vision that inspired the merger earlier this year”.
“After discussions with Swyftx’s leadership and its board, we came to the decision that demerging is in the best interests of both Superhero and Swyftx, our teams and our customers,” Mr Winters said at the time.