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Stake Review
Stake is a Sydney based app for ASX and US share trading. It has run on its own ASIC license only since July 2024, after years using a rented license.
Min Deposit
AUD $0
Spreads From
Commission-free (US stocks)
Max Leverage
N/A, cash equity trading only, no leverage offered
Platforms
2
Pros
- Now runs on its own ASIC license, AFSL 548196, held since July 2024
- Flat $3 brokerage on ASX and US trades up to $30,000 in value
- Fractional U.S. shares let new investors start with about US$10
- No inactivity fee and no monthly cost on the free Basic account
- U.S. shares are held on trust through DriveWealth, a SEC and FINRA firm
Cons
- Only real shares, ETFs and bonds, no forex, CFDs or leverage products
- Former licensor Sanlam Private Wealth got a 2024 ASIC compliance order
- Independent reviewers report slow support and withdrawal delays
- A 55 basis point fee applies on every AUD to USD conversion
- Not listed on a stock exchange, so its own accounts are not public
Stake is a share trading app from Sydney. Matt Leibowitz and Dan Silver started it in 2017 to give Australians a cheap way to buy real U.S. shares. It now also offers ASX shares and a small managed fund.
Stake holds its own ASIC license, AFSL 548196, through Stakeshop AFSL Pty Ltd, since 29 July 2024. Before that it used the license of Sanlam Private Wealth. In December 2024, ASIC gave Sanlam a court enforceable undertaking for failing to supervise dozens of firms on its license. Stake was not named, but the case explains the later move.
Stake offers no forex, CFDs or leverage. You only trade real shares, ETFs and a few bonds. Brokerage is a flat $3 a trade, or 0.01% on larger orders, with no inactivity fee. A 55 basis point fee applies when you move money between AUD and USD. Reviewers call the app easy to use but note slow support and some withdrawal delays.
Min. Deposit
USD 10
Max Leverage
N/A, cash equity trading only, no leverage offered
Spreads From
Not spread based, flat $3 brokerage fee per trade
Platforms
Regulators
Platforms
- ASIC (Australia)
- AFSL 503734
