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

stake-share-trading-platform-founders

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.”

RELATED: More crypto hype lately but does that mean you should invest?

Interested in starting your own investment journey? Well if you’re looking for a platform to trade on, one great place to start is with some of the best share trading platforms in Australia - as judged by our expert judges.

Otherwise get comparing straight away by looking through some of the great share trading accounts wrapped up in the table below.

Compare share trading accounts - rates updated daily

Search promoted share trading below. Advertiser disclosure.
  • placeholder
    Live Account

    Small trade brokerage
    Monthly fee
    $5.00
    $0.00

    Superhero Live Account is trading for everybody. Zero brokerage when purchase ETFs and $5 when you sell, plus traders can get started with a minimum investment of just $100. Earn up to 5,000 Qantas Points on the first 10 trades or up to 10,000 points for transferring your portfolio to Superhero before the 28th Feb 2022 (T&Cs apply).

    Go to site
    Details
  • placeholder
    Trading Account

    Small trade brokerage
    Monthly fee
    $10.00
    $0.00

    Insights, recommendations and support for just $10 per trade under $1000. Get access to over 25 international markets. (See the CommSec page for details)

    Go to site
    Details
  • placeholder
    Share Trading

    Small trade brokerage
    Monthly fee
    $8.00
    $0.00

    ThinkMarkets offer an $8 flat fee share trading account with HIN ownership (CHESS sponsored) so you control your own shares plus free live price data and market depth. Winner of the Mozo Experts Choice Award 2021 in the Casual Trader and Casual ETF category.

    Go to site
    Details
  • placeholder
    Mozo Experts Choice 2021
    Share Trading

    Small trade brokerage
    Monthly fee
    $5.00
    $0.00

    Opentrader offers great tools for the more advanced investor or trader, or people who want to learn. Pay only $5 brokerage for trades under $5,000 and live data is free. Sophisticated investors also get access to exclusive off market offers. Multiple Mozo Experts Choice Award winner.

    Go to site
    Details
  • placeholder
    Active Investor

    Small trade brokerage
    Monthly fee
    $9.90
    $0.00

    CMC Markets Invest offer a powerful web and mobile platforms & competitive pricing on thousands of instruments. Winner of a Mozo Experts Choice Award 2020 in the Regular Trader category^.

    Go to site
    Details
  • placeholder
    Share Trading

    Small trade brokerage
    Monthly fee
    $8.00
    $16.67

    IG is part of a major FTSE 250 company with over 185,000 clients worldwide. Commission from just $5 for customers making 3+ trades per month.

    Go to site
    Details

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.