Stake lays down a marker with launch of $3 ASX brokerage

Stake has officially opened its doors to Australian investors looking to trade on the ASX with the launch of its new ‘Stake AUS’ option this morning.

Known for its zero brokerage US trading option, Stake is now allowing its Aussie users to buy and sell more than 2,000 ASX-listed shares and exchange-traded funds (ETFs) over its platform for a flat brokerage fee of just $3 - regardless of the trade size.

Stake also announced that it won’t be charging a brokerage fee on ASX trades for the remainder of 2021.

“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,” said Stake founder and chief executive, Matt Leibowitz.

“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 move by Stake into ASX trades provides yet another low-cost share trading option for investors in what is becoming an increasingly competitive space.

In the past two years alone a number of new platforms - including Pearler, Sharesies and Superhero - have all hit the market with cheap brokerage offers, swelling the ranks of the brokerage platforms available to Aussie investors.

But how does the new brokerage offer from Stake stack up?

Of the 25+ share trading platforms being tracked in the Mozo database, Stake’s $3 brokerage fee is currently the lowest on offer and well below the brokerage fees charged by some of the major banks.

“We’ve listened to customers,” said Leibowitz. “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.”

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