Does Superhero receive payment for order flow?
While it is not a requirement to disclose any arrangement for receiving payment for directing order flow, Superhero currently has no such arrangement and does not receive compensation for Securities transactions executed through designated exchanges, market makers, dealers, or market centres.Where permitted under applicable laws and rules, Superhero reserves the right to receive remuneration for directing orders in Securities. We will notify you in writing of any change to these arrangements.
Which company places my U.S. trades in the market?
Superhero has partnered with Apex Clearing Corporation LLC to manage its U.S. brokerage and execution services.
Apex Clearing is registered with the U.S. Securities and Exchange Commission (SEC), is a member of Financial Industry Regulatory Authority (FINRA) and is a participant in the Securities Investor Protection Corporation (SIPC). This protects every Superhero customer that holds U.S. securities for up to $500,000 (including $250,000 for claims for cash).
How are my U.S. shares held?
The U.S. shares you hold in your Superhero Account are held by Apex Clearing Corporation LLC (Apex) on your behalf as custodian.
Apex does not acquire a beneficial or proprietary interest in your securities or cash, or the income and rights attached to your securities.
For clarity, beneficial ownership means that you, the owner of the shares, gets the direct benefit from the shares. Direct benefits include dividend payments, capital gains, etc.
The shares purchased within your Superhero account are yours and cannot be accessed by others, including claims from any creditors of Superhero or Apex.
Please see Safety of Customer Assets at Apex Clearing Corporation document
How are my U.S. shares protected?
Please see Safety of Customer Assets at Apex Clearing Corporation document
