Superhero Arvostelua 

SuperHero seems more interested in trying to argue with you than help you. Their platform is hugely deficient when it comes to anything other than buying and selling vanilla shares. Use them with extreme caution.

Extremely concerning withdrawal process – read the other reviews before trusting them with your money

My experience trying to withdraw my superannuation from Superhero after leaving Australia has gone far beyond a simple inconvenience.

I am applying for a DASP and have done everything reasonably possible to comply with their requirements. Superhero told me that my forms and supporting documents could be submitted electronically, yet they require a certified copy of my ID to physically arrive in Australia.

Not emailed. Not electronically verified. A physical piece of paper.

I am already overseas, and the address they provided for this critical document is a PO Box. This immediately restricted my courier options — DHL would not deliver to it — and finding alternatives from Bali meant additional travel, expense and complications.

I eventually managed to send the certified document internationally as requested. It reached Australia, but it has now been substantially delayed in the postal system. As a result, access to my superannuation savings is effectively being held up by the physical delivery of a single certified photocopy.

I fully understand that Superhero does not control the postal system. What Superhero DOES control is the process they impose on customers and how they respond when that process clearly fails.

I have spent weeks dealing with this, paid significant international postage and related costs, contacted multiple parties trying to locate the document, and repeatedly tried to find a solution. Despite all of this, I still do not have access to my money.

What concerns me even more now is reading the experiences posted by other customers here.

I initially assumed my situation was unusually difficult because I am applying for a DASP from overseas. But looking through the reviews, there appear to be complaints from Australian customers as well about difficulties and delays involving withdrawals, access to funds and customer support.

Obviously, I cannot personally verify every other review on this website. I can only speak definitively about my own experience. But seeing similar themes raised by other customers is extremely concerning when dealing with a company responsible for people’s retirement savings.

This isn’t a streaming subscription or an online purchase where bad customer service is merely annoying. This is people’s money and, in my case, my superannuation savings.

I have now escalated my case and lodged a FORMAL COMPLAINT through Superhero’s Internal Dispute Resolution process. I have specifically asked them either to provide a reasonable alternative method of identity verification in my circumstances or clearly explain why no alternative compliant verification method can be accepted.

I am documenting everything, and I will update this review with exactly how Superhero handles the formal complaint, whether they provide a real solution, and ultimately how long it takes before I actually receive my superannuation.

And after going through this experience, I genuinely cannot imagine trusting Superhero with additional investments on top of having my super with them. If accessing my super when I am entitled to withdraw it can become this complicated, expensive and stressful, I personally would not feel comfortable putting any additional money in their hands.

Based on my experience so far: avoid at all costs.

If you are considering Superhero for either superannuation or investing, I strongly recommend reading the withdrawal-related reviews here first and understanding exactly what you may have to deal with when the day comes that you actually need access to your money.

Does not hold up to their own promises on tax timelines - states 5-10 business days to produce tax reports, about 20 business days later and they are still lying over email about when they will come in. DO NOT invest in ETFs with Superhero if you want to submit your tax return before September or October. Additionally, at some point over the years they've introduced a $20 per security fee to take your assets out of Superhero. Screw you over and then lock you in.

Absolute mess of a company . Avoid at all costs WARNING !!!WARNING !!!!WARNING!!!! Current complaint with AFCA

In times of financial hardship, car and urgent dental, outstanding overdue debts was a real headache dealing with this company in rough times, other super companies were great and prompt in earlier years and more compassionate most of all speedy service from other super companies, I'd advise moving your super from this spiralling down here company.

I have been a dedicated user of Superhero for six years, having joined when the platform first promised to disrupt the Australian brokerage landscape. Regrettably, my experience has soured significantly as the company has pivoted toward a business model that is fundamentally hostile to the retail investor. The current fee structure, specifically regarding foreign exchange, is a masterclass in obfuscation. While the platform markets a 0.5% FX fee, the reality is a staggering 3.28% FX conversion spread. To cite a recent transaction on 21 June 2026: 188.22 USD was converted to 262.11 AUD, yielding an effective rate of 1.3926 against a prevailing market rate of 1.4254. For an investor with a $20,000 USD portfolio, this translates to a $650 "friction cost", capital essentially evaporated by the broker’s opaque pricing.
Furthermore, the platform utilises punitive exit fees to effectively trap client capital. Charging $200 per position to transfer holdings is an unconscionable barrier to exit, designed to penalize clients for seeking transparency elsewhere. This is not merely uncompetitive; it is a predatory practice that demonstrates a complete disregard for customer equity. Investors would be well-advised to conduct a rigorous analysis of their own transaction costs before entrusting their capital to this platform, as the true cost of their "low-fee" marketing is far higher than any reasonable investor should accept.

Possibly the worst broker in Australia. Save yourself and dont fall for their low fees even though they are not even the lowest cost provider.

I am telling you this superhero super is the biggest scam I've ever seen how is it possible they are still aloud to operate in Australia. First of all can not contact them directly witch is very odd. And to message them you need to download there app that's odd. I've been trying to access my early super witch is less then 300 dollars I have sent them every single thing they have ask for but they tell me this is missing that is missing send it again and so forth. I actually fill sorry for the people they have invested big money into this company I mean I'm finding it so hard just to get my 300 dollars of them I could only picture how hard it would be for others with more money in there. Seems every time you email them it's the exact same person I mean I give them a negative 5 ***** star review. And yes read the reviews first we are not lieing about these low life's

My member portal and Certificate of Currency displayed $7,000,000 in insurance cover, which Superhero Super later confirmed was a system display error.

I was not notified that my transferred cover had not commenced or that my insurance had reverted to default. The information presented to me did not reflect my actual cover, and premiums were still being deducted during this time.

Superhero acknowledged inaccuracies in both the insurance information and premium calculations. However, they declined to provide a full refund of premiums and did not offer compensation.

I also did not receive a clear explanation of what would have been paid in the event of a claim during the period where the Certificate of Currency did not align with their internal records.

For a product as important as insurance, accuracy and clear communication are critical.

If you value your time, your sanity, or the ability to actually access your own money, stay as far away from this broker as possible. My experience has been a masterclass in institutional incompetence and "hostage-taking" tactics.

The "Hostage" Transfer Experience
Trying to move a portfolio out of Superhero is like trying to escape a cult. They will find any microscopic administrative excuse—including errors they made when entering deed information—to delay your exit. Expect endless "name mismatch" hurdles and nonsensical delays. They seem to operate on the strategy that if they make leaving difficult enough, you’ll just give up. I didn’t.

Incompetence Across Time Zones
It is glaringly obvious that their operations have been offshored to the lowest bidder. Receiving critical support emails at 3:00 AM is the standard here. This disconnect explains the glacial pace of their service and the sheer lack of accountability.

Why This Platform is a Financial Liability:
The $20k Ceiling: If you have a serious portfolio, good luck getting your money out. They cap withdrawals at $20k, meaning large liquidations become a multi-week administrative nightmare.

Math is Hard: Incredibly, they managed to overpay dividends. In an era of automated fintech, failing at basic arithmetic is a terrifying red flag for a company holding your assets.

The "Stone Age" UI: The interface is embarrassingly basic. No decent charting, no dynamic orders, and the US market data is so delayed it’s practically historical fiction.

Zero Utility: It’s a "broker" in name only. It lacks every single feature a serious investor needs to manage risk or execute a strategy.

Verdict: This isn't a platform for investors; it’s a trap for your capital. I am moving my entire portfolio elsewhere. Do yourself a favor and don't give them a cent of yours to begin with.

Been about 2 months of 'we are looking into it's.
It's not a mirror, it's a business transaction - basically my money is being held hostage.

There are better (even free!) alternatives.

I would recommend it to my ex wife 😜

Final Rebuttal (Update following company response)

Your response continues to rely on vague references to “regulatory” and “KYC” obligations without identifying any specific legal requirement that justified your conduct.

To be clear, I did not object to identity verification, source-of-funds checks, or confirmation of the destination account. All of those were completed. The destination account was already on file and had previously been used for deposits. My identity was verified multiple times, including photographic identification while holding a Passport.

What I object to — and what you have still failed to justify — is the demand that I substantiate the purpose for withdrawing my own cleared funds as a condition of access to them. - this is a disgusting, absuive and unlawful condition for a deposit holder to contend with.

There is no obligation under Australian AML/CTF, KYC, or consumer law that permits a retail broker to require a customer to disclose the intended use of their own money once identity and account ownership have been established. Internal withdrawal limits or internal risk policies do not override a customer’s legal entitlement to their funds.

Characterising these demands as being “for my protection” is not credible. At that point, the only party benefiting from delay was Superhero, by continuing to retain customer cash. That is not consumer protection — it is control presented as compliance.

Your assertion that the matter is “resolved” also misrepresents what occurred. The issue was only resolved after prolonged obstruction, repeated refusals to escalate, denial of access to any accountable decision-maker, and the initiation of external complaints to AFCA Case no 12-26-346498 . Resolution under duress is not evidence of a compliant or customer-focused process. Only after AFCA actioned the complaint did SH formally acknowledge its fault. I also direct messaged your CEO

Your response is misleading and frankly dishonest and only fuelling this, so a formal record with ASIC will be created. Your trust pilot rating is 1.8, say no more

Withdrawal Denied – Appalling Conduct

I have used Superhero for some time and never once needed to contact support. Unfortunately, the first time I did revealed just how broken, opaque, and contemptuous this platform really is.

I attempted to withdraw funds above their arbitrary daily limit. What followed was an exercise in frustration and disrespect: endless computer bots, followed by “human” bots who simply repeat scripts. Over four emails and multiple chat sessions, I repeatedly requested escalation and to speak to a manager. This was flatly refused. Apparently, at Superhero, senior staff are either mythical creatures or deliberately hidden from customers.

When I decided to close my account and transfer my CHESS-sponsored holdings to another broker — a perfectly lawful and routine action — Superhero then had the audacity to demand that I justify, in writing and with documentation, why I wanted access to my own money.

Let me be clear:
There is no legitimate reason a retail broker should require a customer to disclose the purpose of a withdrawal of their own cleared funds simply because it exceeds an internal limit. The fact that their compliance team could not even comprehend why this request is offensive speaks volumes about the culture and competence of the organisation.
Their so-called “compliance team” — the only people authorised to approve withdrawals — are faceless, unreachable, and cowardly, refusing to make or take a phone call. Accountability appears to be intentionally designed out of the system.
I will be referring this matter to ASIC and the Australian Financial Complaints Authority (AFCA). This is not about inconvenience — it is about control, opacity, and a complete lack of respect for customers.
If all you want to do is place small ASX trades, Superhero might suffice.
But if you ever need to withdraw more than $20,000, be prepared for offensive interrogation, bureaucratic gymnastics, and outright obstruction.

This is not how a serious financial institution behaves. Avoid.

The cover they tried to use for requesting that i provide documentation demonstrating the use of my funds was for my protection. This was after providing them with copies of the bank statement where the funds were to go to, the same one where deposits came from, despite providing them a photo of myself holding my passport, despite answering all of their security questions. Its BS, they profit from holding you cash funds for as long as they can - its unlawful camoflagued as Policy. - Lets see what the bank ombundsman has to say and ASIC -

Dishonest Fee Additions to try and keep you on the platform.

I’ve submitted all documentation for permanent incapacity. Which has been signed off by the numerous doctors as requested.

I’m an injured veteran who has been injured in Ukraine numerous times over the last couple years and have finally finished as a result of this.

Despite superhero claiming they’re accessing the claim “urgently” it’s been nothing but silence from them despite my constant check ups.

They just don’t want to let go of the money, do not use this superannuation.

I never picked them but was rolled into them from a previous super that closed.

Avoid at all costs! I am currently lodging a complaint with ASIC. Had my TPD payment approved 5 weeks ago still waiting for a payout, get told today that the paperwork i submitted now has to be posted to them not emailed, you hear nothing for weeks then get told oh we need this or we need that, they are now impacting my mental health treatment as im reliant on my tpd to fund ongoing treatment

I contacted their chat support to get information about investment options. I was repeatedly bullied and harassed by their chat operators OAKLEY and JADE.

Superhero is a great platform, I’ve been using since September 2020. They have the most competitive brokerage fees even though I no longer use Superhero to buy ETFs. Their tax reports generating feature is super convenient and efficient. The only downside I have with this platform is that they don’t show you your portfolio performance and the timeframe is cut off at 1 year. Other than that it’s very nicely designed and user friendly

Ok if you don't want to invest much, but be warned if investing in USA, superhero lags ipos by days, doesn't let you make market orders for new listings for days. And if you want to move to another platform or broker they charge $100usd per holding to move, extortionate

When I try to make purchases the confirmation text message with the code I need to finalise the order either doesn't get received or is significantly delayed. This app is cheap and is good for starting out but once your portfolio ramps up you will need to use a more reliable tool. At some point it will cost you money.

DO NOT GO FOR Superhero just to save few bucks on brokerage !!!!

They will not let you transfer your portfolio unless each share holding is more than $500 in your portfolio. That is NOT total portfolio value but each holding should be more than $500.. thats insane because if I want to buy 3-4 ETFs then I should be investing $500+ in each ETF.

Moreover I will always be in doubt to invest more because the share will not be on your name.

I found a smarter way to FREE BROKERAGE with stake using superhero!!

1)Buy any ETF, shares you are interested in, worth $1000+ in Superhero

2)open account in Stake

3)Transfer your entire portfolio

4) Stake will NOT charge you brokerage for 12 months if your transferred portfolio value is more than $1000 :)