The $500 minimum certainly applies if you make an initial purchase through a CHESS sponsored broker of an ASX listed stock.
However, if you have an account at a broker that doesn’t use the CHESS system for each individual account, I understand that the $500 minimum doesn’t apply. I’m not sure if this is all non-CHESS brokers, you can check that for yourself.
This is not a recommendation for Superhero, but this is a Link to Superhero page saying $100 minimum for Australian shares.
KH
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