Stake Review

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Stake is a global brokerage firm that enables you to trade commission free with access to a fantastic selection of over 8,000 US Stocks and ETFs. You can download the easy to use Stake app free of charge and access the markets in a fast and efficient manner with a limited selection of tools to help you get the most out of your trading strategies. I really like how they offer clear, simple, and efficient pricing with no hidden fees. The minimum deposit required to operate a live account is low at just $50, which means that you can give them a try with minimal investment to see if they meet your needs. The account opening process is all done online and quick to complete. I think Stake can be a good option for beginners and investors who are looking to invest and hold positions for the mid-long term. If you are an active day trader, then you might want to consider a platform that has more analytical capabilities from our best trading platforms. Otherwise, read on to find out more about the advantages and disadvantages of Stake.

Summary

Established in 2017 in Australia, Stake is a fast-moving, customer-led brokerage company that offers online trading services to a growing community who wish to get access to free stock and ETF trading on the US markets with lower costs and greater simplicity. Stake provides you with a proprietary platform that is available as a mobile app for convenient trading as and when you need it. The Stake platforms are user-friendly and well designed, making them an option for traders of all experience levels. If you are a beginner, they have limited educational resources to help you get started whilst the customer support team is available to ensure a smooth trading process. Despite the positives, Stake currently only offers stocks and ETFs which are limited to the US market. I feel like they could also improve the educational materials to help newcomers get a better understanding of trading the markets. If you are looking to day trade, you might want to consider trading with a broker that has plenty of tools to offer, such as Markets.com.

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Regulation

When it comes to choosing a broker, regulation is one of the most important things to look for. I would always prefer to use a regulated broker as they can provide certain protections that an unregulated broker cannot should things go wrong. I am therefore pleased to see that Stake are authorised and regulated by the UK Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC). I personally consider these to be top-tier regulators and would therefore have no problem trusting them.

Countries

Stake is available in the UK, Australia, New Zealand and Brazil. The broker states that its products and services are not intended to be an inducement, offer, or solicitation to anyone outside of Australia, the United Kingdom, or in any jurisdiction in which Stake is not regulated or able to market its services. If they do not provide services in your country, please feel free to browse our broker reviews for an alternative option.

Platforms

Stake App

You can get quick and easy access to the markets with the user-friendly Stake platform, which is developed in-house to allow clients to trade ETFs and stocks listed on the US stock markets without stress. The platform offers access to unlimited commission-free trading, real-time trade execution, advanced order types, and more. I think the app has a nice modern layout which makes it easy to navigate around and conduct your trading activity. You can manage your account, positions and follow the markets with minimal fuss. However, I did find the app features to be somewhat limited when compared to other trading apps such as MetaTrader. That being said, if you are just looking for some basic analysis and a convenient way to invest or trade, it does that well. The Stake trading platform is compatible with Android and iOS devices. The mobile trading apps can be freely downloaded from the respective app stores. With some of the lowest fees you will find and a smooth and sophisticated trading experience, I feel it does help to make it easier to access the markets from the comfort of your mobile devices.

Stake App

Tools

There are currently no standalone trading tools provided by Stake at the moment. However, within the app they offer a good selection of sophisticated tools that include ratings from Wall St analysts, price targets and full company financials. I think there is significant room for improvement in this respect although there are some research tools but they are only available to premium account holders. It would be great if they offered more analytical tools but when you consider they are not really catering towards day traders, then the lack of complex analytical tools is perhaps more understandable. If you are looking to conduct complex market analysis and trade on a frequent basis, you might be better off with a day trading broker such as GO Markets.

Education

On the Stake website you will find a handy blog section that is packed with several educational and news articles that are aimed at improving your trading knowledge and keeping you informed on the latest happenings in the financial markets. Whilst this can be a great way to learn more about trading online, I didn’t find the learning materials as comprehensive as what some other brokers such as Admirals provide. However, I don’t think this is really a deal break as there is some decent content there and you can find plenty more of online resources with a plethora of trading guides and videos to help bring you up to speed with the markets.

Markets

When you open a trading account with Stake, you get direct access to trade a generous selection of over 8,000 US stocks and ETFs. However, I think they are lacking in asset classes as they don’t support any other popular assets, including forex, options, futures and bonds. If you want a wider selection of financial instruments, you may want to consider Forex.com as an alternative. If on the other hand, you just want to trade stocks and ETFs, then there should be more than enough to keep you satisfied.

Accounts

Stake provides you with a free live trading account that has a very reasonable required minimum deposit of just $50. These is good when you consider some brokers expect you to deposit hundreds or thousands just to open an account. I also like how Stake does not charge any commission on trades. However, they charge a 0.5% FX fee on deposits and withdrawals as funds are held in USD once on the platform. At Stake, the only available base currency is USD. This means you will need to pay a conversion fee if funding your account in another currency. I think they could improve by adding support for some more currencies especially when you consider they serve a global clientele.

There is also the Stake Black account, which charges a monthly subscription fee of $9/month for access to premium features if you are looking for that little bit of extra support. Another great incentive is that customers who sign up and fund their account within 24hrs will receive a free stock in companies such as Nike, GoPro and Dropbox. The account opening at Stake is a straightforward process completed in minutes.

Support

You can direct your trading inquiries to Stake’s client support team that can be reached via email or by submitting a ticket on the website or through the Stake mobile app. The support response time is reasonable but not the quickest I have come across. However, if you are just planning to invest and forget, this might not be that big a deal for you.

Funding

There are several methods you can use to fund your Stake account including bank transfer, card payment and online payment processors. I find that card payment and digital wallets are the quickest and easiest way to fund trading accounts. I don’t always want to wait around for days for a bank transfer to clear before I can start investing. It is worth mentioning that Stake does not accept deposits from third parties which is pretty standard with most brokers. All of your deposits have to be in your name. I do think they could improve by adding support for some more digital wallets. IronFX have a great selection if you want a little more variety when it comes to making deposits and withdrawals.

Conclusion

Overall, I think that Stake can be a great solution for anyone who is looking for simple access to the markets so that they can invest in stocks and ETFs with no commission fees. You get user-friendly platforms to trade in a regulated environment with educational resources and a dedicated customer support team. However, I don’t think they would be the ideal choice for day traders as the platforms and tools are quite limited in terms of market analysis and they don’t provide any other asset classes. If these things don’t bother you, then they are certainly worth consideration.

$50

Stake is an Australian-based trading broker that enables traders and investors to access a great selection of over 8,000 US Stocks and ETFs via a user-friendly mobile app.

All investments involve risk, including loss of principal. Past performance does not guarantee future results.

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