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Stake works in the same way as the majority of other trading applications. It provides users with access to a large number of different stocks and shares, giving you the ability to invest in companies of your choice. If you are familiar with stock trading, then you will instantly be at home with the Stake trading application. But if you're a newcomer to this form of investment, the app has a detailed Support section to answer your questions and get you started.
Unlike other trading applications, however, non-American users are given access to American stocks, without the need for a United States trading account. So whether you are based in Australia or another country where Stake operates, you have access to a wide of shares and ETFs.
The first step is to open up an account, which only takes a few minutes thanks to a straightforward registration process. However, since the application is restricted to users over the age of 18, you will need ID to prove your age. Make sure you have your ID at hand to speed up the sign-up process.
So how do you pay for the stocks that you buy on Stake? You will need to fund your account through the "Add Funds" function either using a Bank Transfer (direct Bank transfer or BPay) or Online Banking POLi. This will take at least 1-2 business days to process so time it ahead of any stock purchases you want to make.
You can speed things up for a fee. You can opt to fund your account using the Express method on Bank Transfers and POLi to have your funds cleared during the next US trading day. It costs an extra 0.5% of your funding amount.
Currently, you cannot use your credit card to fund your account.
There's no FX fee on trades. Stake charge a 70bps of the transfer value only when you deposit money into your account and when you withdraw $2 or more.
The user interface is extremely easy to use and not intimidating for new traders.
Once all of this is taken care of, you are free to invest and trade in any stock you want.
Stake has recently launched in the UK, giving access to a US trading platform to UK residents too. However, Stake itself is based and regulated in Australia and is thus predominantly designed for Australian users.
Although Stake gives you access to a wide variety of trading platforms, users can only access and trade US stocks. This means anyone who is potentially wanting to use Stake as a global stock tool will have to look elsewhere.
Fortunately, US stock markets dominate the global equities scene, with NYSE and NASDAQ occupying first and second rankings in market value, with a combined value well in excess of the total of the next eight. Stake offers access to over 3,500 US shares and ETF's. Anyone interested in the US stock market, but struggling to access it from another country, will find the Stake app suited to them.
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Stake is an Australian founded investment app that provides non-US residents the ability to invest in US listed companies brokerage free. More recently Stake has expanded to New Zealand, Brazil and the United Kingdom. Opening up US investing for residents of those countries too.There are currently over 300,000 Australians investing in the US markets via Stake. This is an extremely impressive number given how the company has only been around for a few years.Stake has a fully comprehensive Web and App based platform that is available for both Android and IOS. Investors have over 4,000 options of investing in individual companies or ETF’s via Stake app. These includes some of the biggest companies in the world.