Summary

Recommended for beginners looking for free trading and a simple, easy to use trading platform

Founded in 2017, Stake is an Australia-based zero-fee discount broker specialized in US stocks and ETFs The brokerage is overseen by multiple top-tier regulators, including the Australian Securities and Investment Commission (ASIC) and the UK's Financial Conduct Authority (FCA). 

Stake is considered safe because it is regulated by top-tier regulators. In addition, Client assets are protected up to an amount of $500,000 ($250,000 cash) under the Securities Investment Protection Corporation's (SIPC) insurance. 

Stake operates in Australia, New Zealand, the United Kingdom, and Brazil. The core services are the same in these countries, but there are slight differences. In this review, we tested the UK services.

Overall Rating
4.3
Fees
4.8
Account opening
5.0
Deposit and withdrawal
3.7
Trading platform
3.6
Markets and products
1.6
Research
3.3
Customer service
0.4
Education
0.5

Stake pros and cons

Stake provides free stock and ETF trading on US markets. The account opening process is fully online and fast. The trading platforms are user-friendly and well designed.

On the negative side, Stake only offers stocks and ETFs limited to the US market. The customer service channel offering is substandard. We missed educational tools and materials to help clients get a better understanding of capital markets and trading.

Pros Cons
Free stock and ETF trading Basic product portfolio
Fast and fully digital account opening Limited availability of customer service
Easy-to-use trading platforms Lack of educational tools
Stake main features and highlights
🗺️ Country of regulation Australia, UK
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $2
💰 Minimum deposit $50
🕖 Time to open an account 1 day
💳 Deposit with credit/debit card Available
👛 Depositing with electronic wallet Not available
💱 Number of base currencies supported 1
🎮 Demo account provided No
🛍️ Products offered Stock, ETF

Author of this review

Ádám Nasli

Author of this review

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Ádám Nasli

Broker Expert

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Stake review
Fees

4.8
To know more about trading and non-trading fees, visit Stake

or
Compare to its best reviewed alternative: Revolut
Stake offers free stock and ETF trading on US markets. There is no inactivity fee, which is a big plus. On the negative side, deposit and withdrawal are not free of charge.
Pros Cons
Free stock and ETF trading Withdrawal fee
No inactivity fee
Transparent fee structure
Stake fees snapshot
Assets Fee level Fee terms
US stock Low Commission-free stock trading
EURUSD - Not available
Mutual fund - Not available
Inactivity fee Low No Inactivity fee

How we ranked fees

We ranked Stake's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let's go over some lingo related to broker fees. What you need to keep an eye on are trading fees, and non-trading fees.

In the sections below, you will find the most relevant fees of Stake for each asset class. For example, in the case of stock investing the most important fees are commissions.

We also compared Stake's fees with those of two similar brokers we selected, Revolut and eToro. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Stake alternatives.

To have a clear overview of Stake, let's start with the trading fees.

Stake trading fees

The trading fees at Stake are low. We appreciated the fully transparent fee structure.

Stock fees and ETF fees

Stake offers commission-free stock and ETF trading on US markets.

Stock and ETF commission at Stake on a $2,000 trade
  Stake Revolut eToro
US stock $0.0 $0.0 $0.0

Non-trading fees

Stake has average non-trading fees. The deposit and withdrawal fees below are calculated for $2,000 transfers.

Stake non-trading fees
  Stake* Revolut eToro
Account fee No No No
Inactivity fee No No Yes
Deposit fee $0 $0 $0
Withdrawal fee $2 $0 $5

Stake charges no inactivity fee and the basic account has no monthly fee. Clients can choose a premium plan called Stake Black for a monthly fee of $9, which offers some additional services but has a similar fee structure.

In addition, Stake charges for deposit and withdrawal, as described below: 

  • There is an FX fee both for deposit and withdrawal. The FX fee is 0.5% or a minimum $2 for UK customers, while the spot rate plus 70 basis points or a minimum $2 for Australian/New Zealand customers.
  • If you choose the express deposit, the fee is 0.5% or a minimum of $2. With an express deposit, your transfer arrives within the next trading day.
  • If you transfer USD funds directly to Stake it will costs you $5.
  • There is an additional $2 bank processing fee for withdrawals.
  • Australian customers can also deposit by credit/debit card. The credit/debit card deposit fee is 2% of the amount or a minimum $2.

Lastly, if you're from Australia, New Zealand, or Brazil, there is a $5 one-off fee for preparing your W8-BEN tax form. This fee is deducted from your first transfer.

Stake review
Account opening

5.0
To experience the account opening process, visit Stake

or
Compare to its best reviewed alternative: Revolut
Stake has a very simple and easy account opening process. It takes only a few minutes to open an account.
Pros Cons
Fast None
Fully digital
Low minimum deposit

Can you open an account?

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At the time of the review, Stake's services were only available in Australia, New Zealand and the UK.

What is the minimum deposit at Stake?

Stake requires a minimum deposit of AUD 50 from Australian clients and £50 from UK clients. That is definitely low compared to some other brokers where the minimum deposit can be $2,000 or more.

Account types

At Stake, clients can choose from two account types. Besides the standard account, you can open a Stake Black account for a monthly fee of $9. Both types offer an unlimited number of commission-free trades. Stake Black has the same fee structure as the standard account but it also offers a few premium services:

  • you can promptly re-invest the proceeds from the sale of your stocks;
  • access to detailed fundamental data (company financials, analyst ratings and price targets).

How to open your account

Australian and NZ clients can open an account on Stake's website. UK clients need to download the Stake App on their phones first.

The process is simple, straightforward and takes only a few minutes. You need to enter your personal data and some additional info (e.g. income and employment details).

Stake review - Account opening

Stake review
Deposit and withdrawal

3.7
To find out more about the deposit and withdrawal process, visit Stake

or
Compare to its best reviewed alternative: Revolut
You can top-up your account by bank transfer or credit/debit card in the case of AU clients. However, you can only withdraw your money in your local currency and you will be charged at deposit and withdrawal.
Pros Cons
Credit/Debit card available for AU, NZ customers Only one account base currency
$2 withdrawal fee

Account base currencies

At Stake, there is only 1 base currency available, USD

Base currencies at Stake vs similar brokers
  Stake Revolut eToro
Number of base currencies 1 1 1

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don't have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. They offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Compare digital banks

Deposit fees and options

Stake charges a deposit fee. Clients from various countries are charged as follows: 

  • An FX fee, which is 0.5% or minimum $2 for UK customers and the sport rate plus 70 basis points or minimum $2 for AU or NZ clients.
  • An extra 0.5% is charged for express top-up, which guarantees that the deposited amount will arrive to your account by the next business day.
  • If you transfer USD funds directly to Stake, it will cost you $5 per transfer.
  • If you fund your account by card there is an additional 2% fee or minimum $1. Funding by card is available only to Australian clients.
    Stake deposit options
      Stake Revolut eToro
    Bank transfer Yes Yes Yes
    Credit/Debit card Yes Yes Yes
    Electronic wallets No Yes Yes

    The speed of the deposit transfer depends on the type of settlement (regular or express) you choose.

    You can only deposit money from accounts that are in your name.

    Stake review - Deposit and withdrawal - Deposit

    Stake withdrawal fees and options

    Stake also charges a fee on withdrawals. There is a $2 bank processing fee. On top of it, expect the same FX fees as charged when you deposit.

    Stake withdrawal fees and options
      Stake Revolut eToro
    Bank Transfer Yes Yes Yes
    Credit/Debit card No No Yes
    Electronic wallets No No Yes
    Withdrawal fee $2 $0 $5

    *Calculated for a $2,000 withdrawal.

    How long does it take to withdraw money from Stake? We tested the bank transfer withdrawal and it took 2 business days.

    You can only withdraw money to accounts in your name.

    How do you withdraw money from Stake? Follow the steps described below:

    • Go to 'Account'
    • Click on 'Funds & Balances'
    • Select 'Withdraw Funds'
    • Set the amount and the target account 
    • The FX rate and all applicable fees will appear on the screen before you initiate the transaction

Compare to other brokers

Stake review
Web trading platform

3.6
To try the web trading platform yourself, visit Stake

or
Compare to its best reviewed alternative: Revolut
Stake's web platform is simple and easy to use with a user-friendly design. However, it lacks some important features like price alerts or workspace customizability. At the time of the review, the web trading platform was available only for customers in Australia and New Zealand.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report No price alerts
Two-step (safer) login
Stake platforms to choose from
Trading platform Score Available
Web 3.6 stars Yes
Mobile 3.6 stars Yes
Desktop - No

Stake's web trading platform is available only to clients from Australia and New Zealand. The language of the platform is English.

Look and feel

Stake review - Web trading platform

Login and security

Stake provides a safe two-step login (two-factor authentication). Bear in mind that this is not set by default, you need to download an authenticator app first and enable the feature on your profile page.

Search functions

The search functions are OK. It is easy to find individual stocks and ETFs, however, the search function lacks any additional features (e.g. filters).

Stake review - Web trading platform - Search

Placing orders

You can use the following order types:

  • Market
  • Limit
  • Stop

To get a better understanding of these terms, read this overview of order types.

For now, clients cannot set order time limits. Limit orders expire at the end of the U.S. trading day (Stake plans to roll out Good-Till-Cancel orders in the near future). Stop orders expire after 90 days if not executed.

Stake review - Web trading platform - Order panel

Alerts and notifications

You cannot set price alerts and notifications.

Portfolio and fee reports

Stake has clear portfolio and fee reports. You can find these reports if you click on 'Account' followed by 'Reports & Activity'.

Visit broker

Stake review
Mobile trading platform

3.6
To try the mobile trading platform yourself, visit Stake

or
Compare to its best reviewed alternative: Revolut
Stake has a simple and user-friendly mobile trading platform, with Touch/Face ID login. There is, however, no two-step authentication.
Pros Cons
User-friendly No two-step (safer) login
Touch/Face ID login No price alerts
Order confirmation

Stake has an in-house developed mobile trading platform. It is simple and easy to use but available in English only.

Look and feel

The Stake mobile trading platform is straightforward and user-friendly. You can easily find all the features it provides.

Stake review - Mobile trading platform

Login and security

After the first log-in, you can use the app without providing any credentials.

To get more security you can set up a passcode and enable Face/TouchID on a compatible device, which is a convenient feature. Nevertheless, we missed two-factor authentication.

Search functions

The platform's search functions are easy to use; simply begin to type an asset's name or ticker to view relevant hits. You can also search for companies based on key-words (e.g. 'Oil Refineries', 'Banks', etc.), a feature we liked quite a bit.

One thing we missed was categorization. It would be great to filter companies based on market capitalization, price level, etc.

Stake review - Mobile trading platform - Search

Placing orders

You can use the following order types:

  • Market
  • Limit
  • Stop

At the moment, you cannot set order time limits. Limit orders expire at the end of the U.S. trading day (Stake plans to roll out Good-Till-Cancel orders in the near future). Stop orders expire after 90 days if not executed.

Stake review - Mobile trading platform - Order panel

Alerts and notifications

You cannot set alerts and notifications on the Stake mobile platform.

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Stake review
Desktop trading platform

Stake does not offer a desktop trading platform.

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Stake review
Markets and products

1.6
To dig even deeper in markets and products, visit Stake

or
Compare to its best reviewed alternative: Revolut
Stake's product selection covers US stocks, ETFs, and US-listed ADRs. However, other popular asset classes like mutual funds, bonds, cryptos or options are not available at Stake.
Stake asset classes
  Stake Revolut eToro
Stock Yes Yes Yes
ETF Yes No Yes
Forex No No Yes
Fund No No No
Bond No No No
Options No No No
Futures No No No
CFD No No Yes
Crypto No Yes Yes

Stake specialized in US stocks, ETFs, and ADRs. The selection is larger than at Revolut, which does not offer ETFs but has cryptos. eToro's product offering is superior to both of them.

Stocks and ETFs

Stake is specialized in the US market. You can trade close to 3000 stocks, 1000 ETFs, and more than 200 ADRs. If there is US-listed security you want to trade, you can request it to be added to the platform on Stake's website.

Stake stock and ETF selection
  Stake Revolut eToro
Stocks (#) 2,800 850 2,000
ETFs (#) 1,000 - 145

A great service at Stake is the possibility to buy fractional shares. Instead of buying a whole share, you can buy only a fraction of it; a handy feature for stocks that cost several hundred dollars apiece.

Stake review
Research

3.3
To check the available research tools and assets, visit Stake

or
Compare to its best reviewed alternative: Revolut
Stake offers live market data. In addition, it provides company fundamentals, analyst ratings and price targets, but only for premium account holders. On the negative side, other research tools are either very basic or missing.
Pros Cons
Data on asset fundamentals Limited interactive charting
User-friendly No/limited set of analytic tools
Live market data Some research tools available only for premium account holders

Trading ideas

To help generate trade ideas, Stake provides equity analyst ratings from various research houses. If you have a base account, you will only have access to aggregated data.

Stake review - Research - Recommendations

Paid plan (Stake Black) users have access to a detailed overview of ratings and price targets.

Stake review - Research - Recommendations

Fundamental data

Stake offers some basic fundamental data, like EPS or earnings.

Stake review - Research - Fundamental data

Stake Black users have access to detailed company financials.

Stake review - Research - Recommendations

Charting

Stake has poor charting tools. There are no technical indicators, and some other editing tools are also missing, such as a trendline editor.

You can only use a basic chart and view some limited key information, such as changes in the stock price during a given period and the trading range.

Stake review - Research - Charting

News feed

Stake provides news feed from third-party news providers, like Bloomberg or CNBC. If you click on an asset, you'll find the relevant news to that asset. It's great.

Compare research pros and cons

Stake review
Customer service

0.4
To find customer service contact information details, visit Stake

or
Compare to its best reviewed alternative: Revolut
Stake's customer support could use a facelift as customer support channels are limited. There is no live chat or phone support. Our e-mails were answered fast by Stake's helpdesk, but the answers were not always relevant or complete.
Pros Cons
Fast response time No phone support
No live chat
No 24/7 support

You can contact Stake via e-mail or you can submit a ticket on the website or in the app.  We received fast responses to our e-email inquiries and the answers were more or less OK .

We missed the 24/7 availability though.

All in all, there is certainly room for improvement in Stake's customer service options.

Stake review - Customer Service

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Stake review
Education

0.5
To check the available education material and assets, visit Stake

or
Compare to its best reviewed alternative: Revolut
Stake offers a limited set of written educational materials. They do not provide any educational or tutorial videos and you can not open a demo account.
Pros Cons
Easy to understand No demo account
No trading platform tutorial videos
No educational videos

At Stake, the only educational tool you have is under the 'Support' section of the webpage. There is a selection of easy to understand articles about the platform and how the US stock market operates (e.g. market hours, settlement time, taxation, etc.)

We missed other educational tools, like webinars or videos.

Stake review - Education

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Stake review
Safety

To find out more about safety and regulation, visit Stake

or
Compare to its best reviewed alternative: Revolut
Stake is overseen by top-tier Australian and UK regulators. However, it is not listed on a stock exchange and does not disclose its financial information.
Pros Cons
Majority of clients belong to a top-tier financial authority Does not hold a banking license
High level of investor protection Not listed on stock exchange
Financial information is not publicly available

Is Stake regulated?

Yes, it is regulated by the Australian Securities and Investment Commission (ASIC) and UK's Financial Conduct Authority (FCA).

Is Stake safe?

To be certain, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

Stake transmits client orders to DriveWealth LLC, a company that provides brokerage and execution services to Stake and its customers.

DriveWealth falls under US federal regulation overseen by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Stake's clients are protected up to $500,000 (including up to $250,000 cash) under the Securities Investment Protection Corporation's (SIPC) insurance.

Background

Stake is a young company, established in 2017 in Australia. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

Being regulated by multiple top-tier authorities is a sign that Stake is safe.

Find your safe broker

Stake review
Bottom line

Visit Stake if you are looking for further details and information

or
Compare to its best reviewed alternative: Revolut

Stake's fees are great. Clients can execute an unlimited number of stock and ETF trades free of charge and the broker doesn't charge an inactivity fee. The account opening is easy, fully digital and fast. It provides straightforward and well-designed trading platforms.

Stake has some drawbacks though: there are only US stocks and ETFs. There is no live customer service (no phone or live chat support). There are no educational tools available.

Stake is a good choice if you want to trade US stocks and ETFs for free on an easy-to-use trading platform. 

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