Share Trading comparison
Pearler vs Superhero
The biggest difference between Pearler and Superhero comes down to ownership structure. Pearler is CHESS-sponsored, meaning you get your own HIN and shares are held in your name. Superhero uses a custodian model, so shares are held in the platform's name — cheaper trades, but you don't get the same legal protections that CHESS sponsorship provides.
Choose
Pearler
if…
- ›You want CHESS sponsorship and your own HIN so shares are registered in your name on the ASX
- ›You plan to invest in managed funds alongside your shares and ETFs
- ›You want dividend reinvestment plans (DRP) to automatically compound your holdings
- ›You prefer using an authenticator app for two-factor authentication rather than SMS
- ›You want to start with a small initial deposit ($500) and then buy with no minimum subsequent amount
Choose
Superhero
if…
- ›You want the lowest possible ASX brokerage at just $2 per trade (up to $20,000)
- ›You need stop-loss orders to manage downside risk on your trades
- ›You want a built-in CGT calculator to simplify tax reporting at EOFY
- ›You prefer free real-time market data without paying extra
- ›You want a lower minimum initial deposit of $100 to get started
Where they differ
| Fact | Pearler | Superhero |
|---|---|---|
| ASX brokerage minimum | $6.50 | $2.00 |
| CHESS sponsorship | Mixed model — individual HIN available | Custodian model — no individual HIN |
| Dividend reinvestment (DRP) | Yes | No |
| Stop-loss orders | Not supported | Supported |
| Minimum initial deposit | $500 | $100 |
Verdict
Choose Pearler for CHESS ownership and long-term investing; choose Superhero for low-cost trades and short-term flexibility.
Cost calculator
What would Pearler vs Superhero actually cost you?
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All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Pearler | Superhero |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | mixed | custodian |
| Individual HIN | Yes | No |
| Individual account | Yes | Yes |
| Joint account | Yes | No |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | Yes | Yes |
| asset coverage | ||
| ASX shares supported | Yes | Yes |
| ASX ETFs supported | Yes | Yes |
| US shares supported | Yes | Yes |
| US ETFs supported | Yes | Yes |
| Other markets supported | ||
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | Yes | Yes |
| Options trading | No | No |
| CFDs supported | No | No |
| Managed funds | Yes | No |
| Bonds supported | No | No |
| IPO access | No | — |
| costs hidden | ||
| FX spread (AUD/USD) | 0.5% | 0.5% |
| Holds USD account | No | No |
| FX currency switch trick | No | — |
| Market data fees | $0/month | $0/month |
| Conditional order fees | — | $0 |
| costs visible | ||
| ASX brokerage minimum | $6.5 | $2 |
| ASX brokerage percentage | — | 0.01% |
| ASX brokerage threshold | — | $20,000 |
| US brokerage minimum | US$6.5 | US$2 |
| US brokerage percentage | — | 0.01% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $0 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | $0 | — |
| identity and trust | ||
| Legal entity name | Pearler Investments Pty Ltd | Superhero Securities Limited |
| AFSL number | 337,927 | 430,150 |
| Year founded | 2,018 | 2,020 |
| Parent / ownership | Privately held (founder-led); backed by investors including AfterWork Ventures | Independent (founder-controlled). Previously merged into Swyftx in 2022; demerger completed December 2022 returning ownership to co-founders John Winters and Wayne Baskin. |
| Country of incorporation | AU | AU |
| Public company status | private | private |
| money movement | ||
| Minimum initial deposit | $500 | $100 |
| Minimum subsequent purchase | $0 | $100 |
| Deposit methods | PayID, Osko, Bank transfer, PayTo (direct debit replacement) | PayID, BPAY, bank transfer |
| Settlement period | T+2 (ASX), T+1 (US) | T+2 for ASX, T+1 for US |
| Withdrawal time | 1-2 business days | 1-3 business days |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | No | No |
| Demo account | No | No |
| Free real-time market data | No | Yes |
| Free research reports | No | No |
| 2FA support | authenticator_app | SMS |
| Customer support channels | email, phone, in-app | email, in-app chat |
| Support hours (AU time) | Mon-Fri 9am-5pm AET | Monday-Friday 9:00am-5:00pm AEST |
| Education content | video_and_courses | basic |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | Yes | — |
| CGT calculator / report | No | Yes |
| Sharesight / Navexa integration | Yes | Yes |
| trading mechanics | ||
| Market orders | Yes | Yes |
| Limit orders | Yes | Yes |
| Stop loss orders | No | Yes |
| Conditional orders | No | — |
| Auto-invest / DCA | Yes | Yes |
| Auto-invest sophistication | rebalancing | multiple |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | No | No |