Stake lowers brokerage barrier with $3 offer for ASX investors

stake-share-trading-app

The battle for Australian investors is continuing to heat up, with Stake revealing that it will be offering the “lowest brokerage fees out there” on Australian shares and ETFs.

Up until now Stake has catered to investors wanting exposure to US markets by offering zero brokerage on over 6,000 US stocks and ETFs. As of this morning though, Stake announced that it will be providing access to the ASX on its platform, with brokerage set at just $3 for ASX-listed securities.

That brokerage fee would be the cheapest on offer among the 27 share trading platforms currently being tracked in the Mozo database, ahead of other low cost options like Saxo Markets and Superhero.

“Paying $30 per ASX trade via established banks has long been par for the course for Aussie investors but they’re not getting anything for that price tag - it can be done better, and for less,“ said Stake founder and chief executive, Matt Leibowitz.

“Our customers now have a sleek platform where they can seamlessly access both Wall St and the ASX at the lowest brokerage fees out there, without compromise. This isn’t just low-cost trading, this is modern brokerage built for the new generation of investors.”

Leibowitz also confirmed that Stake’s ASX offering will use the CHESS-sponsored model.

“We know how important the CHESS model is to Australian investors. They want to trade on their own HIN [Holder Identification Number]. We have found a way to make this work while still being able to deliver fantastic affordability.”

The ASX option is currently in Beta though, with Stake set to roll out access to investors on its waiting list over the coming months.

However, Stake says that it will be providing $0 brokerage on ASX trades until 2022 for investors who do get on board early. 

RELATED: Australia's lockdown love affair with shares continues as investor numbers double

Ready to start investing yourself? Make Mozo’s share trading hub your first destination. It’s  where you’ll be able to compare different share trading accounts, plus make use of a range of handy guides and articles, all in the one place.

Share trading comparison table - rates updated daily

Search promoted share trading below. Advertiser disclosure.
  • placeholder
    Share Trading

    Small trade brokerage
    Monthly fee
    $3.00
    $0.00

    Invest in AU stocks, US stocks, HK stocks and ETFs on moomoo trading platform. Enjoy $0 brokerage fees for AU&US stock for 180 days as a new user. With US trades from $1.99 USD, other fees apply. Backed by a Nasdaq-listed fintech. (T&Cs apply).

    Details
  • placeholder
    Mozo Experts Choice 2023
    Tiger Account

    Small trade brokerage
    Monthly fee
    $5.50
    $0.00

    Tiger Brokers is an online broker listed on NASDAQ. It offers access to US, ASX & HK stocks, ETFs and US options trading. Enjoy one brokerage-free trade per month on US and ASX stocks* with account opening. Mozo special offer for new users only: Get USD $25 in Tesla fractional shares plus USD $50 in fractional shares for new accounts with an accumulative net deposit of AUD 500*. T&Cs apply.

    Details
  • placeholder
    Share Trading

    Small trade brokerage
    Monthly fee
    $7.70
    $0.00

    Buy and sell with a low $7.70 flat fee per trade and access to all ASX Shares and ETFs to invest in with GO Markets. Enjoy dedicated local customer support, a regulated Australian company for trading ASX Shares and ETFs. Plus, enjoy $0 Brokerage on your next 15 trades! (T&Cs apply).

    Details
  • placeholder
    Idle Cash

    Small trade brokerage
    Monthly fee
    $5.50
    $0.00

    Receive interest on your uninvested cash. Deposit over USD/AUD 5,000 to start receiving 1.5% return; 2.25% return on over AUD 50,000; Up to 3.25% return on over USD 50,000. Mozo special offer for new users only: Get USD 50 fractional shares plus USD 25 Tesla shares with a cumulative net deposit of min. AUD 500 within 7 days of the first account opening. T&Cs apply.

    Details
  • placeholder
    Webull Share Trading Platform

    Small trade brokerage
    Monthly fee
    $4.90
    $0.00

    Webull lets you connect with international markets, trading ASX and US stocks and options. You’ll gain access to user-friendly platforms and technology-driven educational resources plus 2% yield on idle cash with Webull cash management. Earn up to 5.3% (P.A) yield on uninvested funds with Moneybull plus a cash voucher worth USD100 by funding USD2000 or more and maintaining the funds for 90 days! (T&Cs apply)

    Details
  • placeholder
    ASX Shares

    Small trade brokerage
    Monthly fee
    $0.00
    $0.00

    Join the world’s leading social trading platform, trusted by 30 million users worldwide. Invest in stocks, crypto, ETFs and more - all in one place. Hone your financial skills with a $100K virtual demo account.

    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.