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.
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.
What U.S. market data does Superhero provide and is it live?
Superhero provides real-time market data during U.S. market hours through licencing arrangements with Nasdaq.
What are the trading hours for the U.S. market?
The U.S. market is open at 9:30am and closes at 4:00pm U.S. Eastern time Monday-Friday with the exception of public holidays.
This is 1:30am to 8:00am in New Zealand Standard Time (NZST). Please note that daylight savings time will impact these hours.
Is there a minimum trade amount for U.S. shares?
There is a minimum trade size of US$10 for U.S. shares and ETFs. Keep in mind that the minimum transfer from NZD to USD is NZ$100.
