Marketech launches low-cost ASX online trading platform, page-9

What is with all the discount retail brokers that have launched recently, most of these were in development before COVID so its not a reaction to the retail boom.

• Superhero
• Opentrader
• Thinkmarkets
• Pearler
• Etoro
• Tastyworks
• There was one with $2 brokerage, forgot the name but the site looked like it was made by a Nigerian scammer.

As these all get more developed, they will ramp up the pricing pressure.
All of these missed out on the COVID retail boom and have buggy UI's.
Superhero is the biggest worry, a lot of big names backing it and they have a cash balance larger than selfwealth as per their comment on reddit.
comment from one month ago 'We've got 15 peeps ATM. Will hit 20 by EOY though. Both myself and my co-founder do not take a salary. We spent a few million building the platform and getting all of the regulatory pieces in place but we raised $8m last month. We've spent a couple of hundred K so far but that's about it.'