Stake is famous for being a modern, easy platform which allows you to trade up to 6,000 US stocks. Famously, many of us have leveraged the service to invest in $TSLA, but today, there’s a more local story. Stake has added the ability to invest in more than 2,000 companies on the ASX trading.
One of the most attractive features of using Stake is their low-cost base to invest. Typically trading shares comes with a lot of fees which can be a disincentive to making investments. Stake is enabling retail investors to trade with the lowest fees in Australia.
The service is Chess sponsored, which means you’ll get your own HIN (Holder Identification Number). Shares are directly held in your own name.
If you’re keen to try out Stake, please use our referral link and we can both get a free stock.
“Following a successful six-week beta period where 50,000 Aussies were given access to ASX trading on Stake, the time is right to unleash it to the public – with an added perk.
Those on our beta were rewarded with $0 brokerage on ASX trading until the end of the year – a benefit we’re extending to everyone.
The feedback from our beta customers has been amazing with thousands of them making the most of free brokerage to flex their investing muscles on Aussie tech unicorns, bluechip Aussie brands, and more,Stake founder and CEO Matt Leibowitz.
Following the month-long free period, Stake AUS will still be the lowest cost ASX brokerage option in the country at just $3 flat.
To date, during the beta period, Stake has also processed more than a thousand portfolio transfers, via their patent-pending, fully digital transfer process with some taking as little as 20 minutes from start to finish.
Stake customer Zak, who transferred both his CommSec and CommSec Pocket account portfolios, said the digital process was unbelievably straightforward and he was happy to now have all his investments in one place, along with significantly lower brokerage on ASX investing.
“I’ve used Stake for investing in US shares for over a year now so as soon as ASX investing was available to me, I transferred my shares from CommSec. The flat $3 brokerage on ASX stocks on Stake is way better than the often $20 I was charged at CommSec.”
With rapid portfolio transfers, lowest fees, CHESS sponsored trading, and the slickest interface in the game, Leibowitz anticipates the company’s growth to accelerate from here, with customers at the heart of every bold move.
“In just a few weeks, a 50,000-plus waitlist for beta became tens of thousands activated customers, feeding back their experiences to us. It’s been humbling and has strengthened our resolve and desire to do better for Aussies.”
“We’ve listened to customers. They want CHESS sponsorship, tick, affordability, tick, and a slick, easy-to-use, interface, tick. Ultimately it’s about control and the freedom to invest on Wall Street and the ASX in the same place.”
“With ASX, investors are getting everything they need – access to more than 2000 companies and exchange-traded funds (ETFs), instant funding into an AUD wallet, and a dedicated dashboard for their Australian holdings.”
That’s in addition to Stake’s mainstay $0 brokerage on more than 6000 US stocks and ETFs which can be traded on both its app and website.
Since its launch in 2017, Stake has amassed over 400,000 customers, and more than US$1 billion in funds under management, across Australia, New Zealand, the UK, and Brazil.
This has been achieved by spearheading commission-free brokerage yet still offering investors sophistication through advanced order types, analyst ratings and price targets, full company financial data, as well as fractional shares.