Superhero slashes brokerage fees in fresh challenge to Stake, CommSec
The Australian online retail broking market is hurtling towards a price war.
Australian online retail trading platform Superhero will aggressively lower its brokerage fees in a move that could ignite a fresh wave of competition in a sector widely viewed as ripe for consolidation.
The neobroker will more than halve its brokerage fee from $5 to $2 on all ASX trades from Monday in a move that positions it as one of the lowest cost operators in the market.
“[This is a] reflection on the scale efficiency we are driving in the business and our commitment to giving customers better access at better prices,” Superhero CEO and co-founder John Winters told Capital Brief.
The pricing change on all ASX trades under $20,000 puts Superhero ahead of many of its challenger rivals, including Stake at $3, as well as incumbents CommSec and CMC Markets.
