Investment platform Superhero has announced it will close its New Zealand business and transfer local customer accounts to Sharesies. The move comes as Superhero refocuses on its Australian operations and winds down its New Zealand presence.
Transition to Sharesies
In an update published on its website, Superhero confirmed that all eligible New Zealand customer holdings — including cash balances and shares in US and Australian markets — will be automatically moved to Sharesies.
The transfer is scheduled to begin after market close on 7 November 2025 and may take up to a week to complete.
Existing Sharesies users will see their Superhero holdings merged into their current account. Those without a Sharesies account will have one created for them as part of the migration process.
Superhero stated that the transition is intended to make the process “as seamless as possible” for investors. Customers who prefer to sell or transfer their holdings elsewhere can do so before the migration date.
Why the change
Superhero’s decision marks the end of its two-year run in the New Zealand market. The platform, which offered access to US and ASX shares with low brokerage fees, launched locally in 2022 to compete with Sharesies, Hatch, and Stake.
In its announcement, the company said it would now “focus entirely on its Australian business,” where it continues to operate and grow its product range.
What this means for investors
For New Zealand investors, the change consolidates the retail investing landscape under fewer major platforms.
Superhero performed well in our share trading fee comparison, and having one fewer option available comes as a blow to NZ investors.
Sharesies already holds a strong market share, and the migration of Superhero customers is likely to strengthen its position further.
Customers affected by the change should review their portfolios once the transfer is complete and confirm that all holdings and cash balances have been correctly moved. Those who prefer a different broker still have time to initiate a manual transfer or sell down before 7 November.
Compare other share trading platforms in our guide.
