The Australian trading platform and IPO prospect Superhero now allows users to trade with US shares. As more and more Australians show an interest in the financial markets, Superhero has decided to allow the buying and selling of US shares on the platform.
Superhero is a fintech that allows traders to buy and sell shares without paying any brokerage fees. The fintech partnered up with Apex which is a US clearinghouse and with Nasdaq which is an exchange operator. This partnership will allow users of Superhero to receive information about the securities in the country. They will also have a much broader range of options for investments.
Chief Executive of Superhero John Winters stated that the company has installed this function in its platform within a time period of a few months. The change was made as a budding interest from the local community was observed in local and international share trading. The increasing interest came into being as the pandemic situation started to come under control.
An increasing number of people are developing an interest in the trading of shares. It is no longer the field of the rich as everyone shows their interest in the area.
During COVID-19 lockdowns, the interest earned from everyday retail investors surged as people looked for places to spend their quarantine periods. Moreover, movement on internet platforms such as Reddit also caught the attention of the people. An example of the impact of these movements can be seen from the growth of GameStop and AMC Entertainment.
Research done by Superhero shows that in Australia four out of five people below the age of 45 believe that they can never be a homeowner. Many people instead use their savings for investing in shared. Approximately 75% of people under this age category are either considering or already own shares.
The quick surge in the GameStop prices also enticed people to invest in different shares. Superhero CEO stated that people should not expect a duplication of what happened with the GameStop shares. Such people have higher chances of winning the lottery instead. He further said that Australians are bolder with their investments as compared to US investors.