How do I view/cancel my recurring order?
If you wish to view or cancel your recurring order, log into your Superhero account and click on the ‘Dashboard’ tab followed by ‘Pending’.
Can I trade U.S. shares on weekends and public holidays?
The stock market is only open Monday to Friday, not on weekends or public holidays. You can still place a trade with Superhero on the weekend or on a public holiday but your order will not trade until the market is open.
The U.S. stock market is closed for most public holidays. The New York Stock Exchange and NASDAQ have both published calendars with closed trading days.
What is a Market Order (U.S. Trading)?
A Market Order in the U.S. is an order to buy or sell securities at the prevailing market price.
Market Orders are based on the dollar amount you wish to invest. This may result in the volume of shares being a fractional amount (i.e. a volume of shares less than 1).
Market Orders are placed at market, meaning that:
- if the Market Order is a Buy order, whether during U.S. Market Hours or when the market is closed, you agree to pay the prevailing market price at the time the market order is executed; and
- if the Market Order is a Sell order, whether during U.S. Market Hours or when the market is closed, you agree to receive the prevailing market price at the time the market order is executed.
All Market Orders placed for U.S. listed securities will likely trade immediately. Where this is not the case these orders will expire 30 days after you place the order via the Superhero Platform.
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.
Can I transfer my U.S. shares to/from Superhero?
Yes, you can transfer your U.S. shares and ETFs in or out of your Superhero account. Only whole shares can be transferred (i.e. not fractional shares).
If you already hold shares with another broker or with a transfer agent and would like to transfer all or some of your shares to Superhero, you will need to complete a US Share Transfer form available on our website. We do not charge a fee for accepting shares transferred from another broker, but there may be other fees depending on the transfer type, including for shares transferred from the Direct Registration System (DRS) with a transfer agent.
If you wish to transfer shares in your Superhero account to another US broker, you will need to request a transfer form from your other broker. Transferring shares out of your Superhero account will incur transfer fees, which are charged by Apex Clearing Corporation. Please see the Superhero Fee Schedule for further information.
If you require assistance please contact us via:
– chat; or
– email hello@superhero.co.nz
What is the brokerage fee for U.S. trading?
Superhero does not charge brokerage fees for U.S. share trades. Superhero makes money by charging an FX Transfer Fee when you transfer funds between New Zealand dollars and U.S. dollars.
In some instances, there may be additional charges but these will be disclosed to you in advance. For more information on our fees, please see our Fee Schedule.
How do I trade U.S. shares?
To trade U.S. shares, you will first need to transfer NZD into USD in your Superhero Wallet.
Once you have transferred NZD to USD, you can trade U.S. shares by searching for or selecting investments on the ‘Invest’ tab within your account. Once you have found the share or ETF you wish to trade, you can Buy or Sell.
Can I trade in fractional shares?
Yes, fractional trading is supported by our U.S. brokerage and execution service and is permitted on the Superhero platform.
Fractional shares are not transferable to other brokerage accounts. Not all U.S. Securities through Superhero are eligible for fractional share orders.
What are fractional shares?
Fractional shares are pieces, or fractions, of whole shares of a company or ETF.
For example, if you want to invest US$100 into a stock that is trading at US$500, using fractional shares you can.
You are able to place a Market Order to buy US$100 worth of shares in that company, which is a ‘fraction’ or 0.2 of a whole share.
Fractional shares are not transferable to other brokerage accounts. Not all U.S. Securities through Superhero are eligible for fractional share orders.
Can I place a Limit Order for a fractional share?
A limit order is an order to buy or sell a specified number, including a fractional number of shares at a specified price or better.
