Superhero charge $0 on ETFs. But that is without providing proper CHESS.
So 100 customers on their platform buy A200, they put all trades through together on their own company HIN for $5 brokerage, costing $0.05 per customer (which Superhero covers). Superhero try to make it back in $9 monthly fees, or non-ETF trades.
Commsec Pocket charge $2 for specific ETF trades, up to $1000. I think Pocket is actually CHESS sponsored.
So Australia might be able to get towards $0 brokerage, if throwing away CHESS (which most people would not like to do).
Is anyone using SWF ?, page-244
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