Best known for providing low-cost access to US markets, online share trading platform Stake has now opened its doors to investors looking to buy and sell Australian stocks with its ASX Share Trading option. With brokerage set at just $3 per trade on trades up to $30,000, Stake could be a platform worth exploring for investors looking to reduce their costs as much as possible.
Stake’s ASX Share Trading option provides investors with access to over 2,000 shares and exchange traded funds (ETFs) listed on the Australian Stock Exchange (ASX).
When it comes to cost, Stake is among the very cheapest around, allowing investors to buy and sell Australian stocks and ETFs for a $3 brokerage fee for trades up to $30,000, after which a 0.01% brokage fee applies. Not only is that well below the brokerage fees charged by many other platforms, it’s currently the lowest in the Mozo database.
Better still, Stake is also running an offer where you could receive 12 months of $0 brokerage when you transfer your ASX portfolio of at least $1,000 AUD to Stake (check the full terms & conditions).
In terms of the finer details, users will need to hit a minimum investment amount of $500 when buying a particular stock for the first time, though there’s no minimum on future purchases of the same stock. Users will also directly own their shares through the CHESS sponsorship system.
And last but not least, Stake provides access to US markets and 6,000+ US stocks and ETFs via its Wall St option. Stake charges zero brokerage fees on US trades, but foreign exchange (FX) fees will apply on deposits and withdrawals.
With its super-low brokerage costs and access to both Australian and US markets, Stake’s share trading platform could be a worthy option for investors who want to keep their trading costs to a minimum.
While Stake is one of the more cost-friendly options around, it doesn’t have all the bells and whistles that come with other platforms, including features like access to live data.
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$3.00 |
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Trades under $30,000 |
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0.01% |
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Trades over $30,000 |
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$3 brokerage for trades up to $30,000 (A$3 for ASX trades, US$3 for Wall St. trades), then 0.01%. |
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no |
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$0.00 |
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n/a |
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Earn Stake Rewards when you sign up, refer friends or transfer shares to Stake. |
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yes |
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SMSF, Trust and Company accounts available. |
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no |
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Stake Black membership available at an additional subscription cost, includes market depth, course of sales, instant buying power, full financials, buy/sell ratings and price targets. Available for both AUS and Wall St or available separately. |
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none |
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