Stake Alternatives

The best alternatives to Stake are

1. Freetrade - UK discount broker
2. Alpaca Trading - US API broker
3. SoFi Invest - US discount broker
4. moomoo - US zero-fee discount broker

Let's see in a bit more detail how the Stake alternatives compare to Stake and each other:

Why are these brokers considered good alternatives to Stake? There are many areas based on which Stake can be compared with others. When we say a given online broker is a good alternative to Stake we mean these brokers are comparable in the following areas:

• The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
• The type of clients they target, i.e. beginners, experienced investors, or day traders.

Stake alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

• Stake is recommended for beginners and investors looking for free us stocks/etfs and a simple, easy to use trading platform
• Freetrade is recommended for long-term investors on the hunt for low fees and focusing on the uk and us markets
• Alpaca Trading is recommended for traders interested in algorithmic stock trading
• SoFi Invest is recommended for beginners and investors looking for zero-commission trading, focusing on the us market
• moomoo is recommended for investors and traders looking for zero-commission trading and focusing on us markets.

Important factors of finding Stake alternatives

So far BrokerChooser has reviewed 93 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

• open a live account
• check over 100 criteria, with weighting based on readers' preferences
• refresh data regularly

Whether Stake or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. Stake is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost Stake alternative.

Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At Stake this is not a problem as you can have it ready on the same day you registered.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at Stake, this might not be the case at its alternatives.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Stake alternative is a must.

Now let's dive into the details of how Stake and its alternatives perform in the most important areas!

Freetrade is a UK-based fintech startup providing commission-free stock trading, regulated by the UK's Financial Conduct Authority (FCA). The company was founded in 2016. 

Freetrade is considered safe because it is regulated by a top-tier regulator, the FCA.

Recommended for long-term investors on the hunt for low fees and focusing on the uk and us markets

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Fees

4.9

At Freetrade, you can trade stocks and ETFs free of charge. There are no account, inactivity or withdrawal fees.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening

5.0

Account opening at Freetrade is fast, fully digital and user-friendly, and there is no minimum deposit. You can choose from 4 different account types.

If you are interested more in Freetrade minimum deposit, this overview will help you.

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Deposit and withdrawal

4.0

Deposits and withdrawals are user-friendly and free. On the negative side, no credit cards are accepted and the only available base currency is GBP.

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Web trading platform

At Freetrade, you can only trade through a mobile platform, web and desktop platforms are not available. We missed the web platform, which the company said would be set by the end of 2020.

Learn more about Freetrade's web trading platform in the detailed Freetrade review.

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Markets and products

1.6

Freetrade has a limited product portfolio that covers only stocks and ETFs. There are no other asset classes available, like mutual funds, bonds or options.

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Verdict

Freetrade's fees are great. Stock and ETF trades are free and there is no inactivity fee. Account opening is easy, fully digital and fast. You can use an awesome and user-friendly mobile trading platform.

Freetrade has some drawbacks, though: there are only US and UK stocks and ETFs available for trading. There aren't many research tools and you can't use credit/debit cards for transfers.

If you are looking for stock and ETF trading from the main UK and US exchanges for free and you prefer an easy-to-use mobile trading platform, Freetrade is a good choice.

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Alpaca Trading is a commission-free API stockbroker founded in 2015. Alpaca is based in San Mateo, CA, and is only available to US residents. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), both top-tier regulators that bolster Alpaca Trading's safety for investors and traders.

Alpaca provides access to US stock markets, historical data, and fundamental data through their API. Alpaca's founders believe their software allows retail traders to capitalize on the machine learning and automation that historically only institutional investors have been able to use. Coders have the opportunity to build their own algorithms and contribute to the Alpaca developer community. Alpaca founders have expressed interest in eventually opening up pre-made algorithms to non-coders, but for now, their platform also includes capabilities for manual order-entry and research.

Recommended for traders interested in algorithmic stock trading

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Fees

4.9

Alpaca Trading offers zero-commission stock and ETF trading and low margin rates. Non-trading fees are also competitive as no fee is charged for inactivity or most withdrawals.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening

4.8

Opening an account with Alpaca is quick, and requires no minimum deposit. Integrating your account with third-party softwares can be tricky, but Alpaca offers great guidance.

If you are interested more in Alpaca Trading minimum deposit, this overview will help you.

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Deposit and withdrawal

1.8

Bank transfer deposit/withdrawal is easy and free, but like other US brokers, Alpaca doesn't support multiple currencies or credit/debit card funding, and wire withdrawal is costly.

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Web trading platform

3.7

Alpaca's web trading platform feels safe, user-friendly, and visually pleasing. However, it does not allow customization, there are no price alerts, and the search function is limited.

Learn more about Alpaca Trading's web trading platform in the detailed Alpaca Trading review.

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Markets and products

2.0

Alpaca Trading currently only provides access to US stocks and ETFs. Other asset classes, like options or bonds, as well as international market coverage, are not available.

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Verdict

Alpaca Trading is a great broker for traders looking to build their own algorithms and focusing on the US market.

Its API tools are outstanding, and fees are low: zero stock/ETF commission, and no inactivity or deposit fees. In addition, Alpaca provides free access to software such as Polygon, Alpha Vantage and TradingView, all of which have great research capabilities.

On the negative side, Alpaca has limited customer support, meaning that users must often turn to GitHub and other community forums for suggestions or peer help to debug code. Among other shortcomings, you can use only bank transfer to deposit or withdraw, while Alpaca only provides access to US stocks and ETFs.

Overall, Alpaca is an up-and-coming broker that is unique in its current space and provides a great product for traders from all experience levels who are interested in algo trading. If you are looking for a strong and savvy API stockbroker, try Alpaca and see what the hype is about.

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SoFi, short for "Social Finance", is a US-based fintech startup founded in 2011. It first specialized in student loan refinancing, but has expanded into the broker space since 2018. SoFi is regulated by the US Securities and Exchange Commission (SEC) and FINRA. SoFi Invest is SoFi's brand for zero-fee or discount brokerage services.

SoFi Invest offers active and automated investing services. The former means a self-directed account where you can trade stocks, ETFs, and cryptocurrencies on your own. By contrast, SoFi Invest automated investing is a robo-advisory service where SoFi Invest handles your investments. In this review, we tested SoFi Invest active investing. Click here for the SoFi robo-advisory review.

SoFi Invest is considered safe because it is regulated by top-tier financial authorities and provides up to $500,000 investor protection (including a $250,000 limit for cash) as part of the SIPC protection scheme.

Recommended for beginners and investors looking for zero-commission trading, focusing on the us market

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Fees

5.0

SoFi Invest has low trading and non-trading fees. It offers commission-free trades for US stocks and ETFs, and no fee is charged for inactivity or withdrawals.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening

4.4

Account opening at SoFi Invest is seamless and fully digital; our account was opened within a day. On the flip side, only US clients can open an account.

If you are interested more in SoFi Invest minimum deposit, this overview will help you.

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Deposit and withdrawal

2.2

SoFi Invest offers user-friendly and mostly free deposit and withdrawal options. However, you can use only bank transfers, while wire transfer withdrawals incur a high fee.

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Web trading platform

3.2

SoFi Invest offers a user-friendly web trading platform with a neat design. However, it lacks customizability, unique price alerts, and many common order types.

Learn more about SoFi Invest's web trading platform in the detailed SoFi Invest review.

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Markets and products

1.9

SoFi Invest has a limited product portfolio comprising US stocks and ETFs as well as a few cryptocurrencies. You can't trade funds, bonds, forex, options or futures.

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Verdict

SoFi Invest's fees are great. You can trade stocks and ETFs listed on major US markets for free. Account opening is easy, fully digital and fast. Customer service responds quickly and gives relevant answers.

SoFi Invest has some drawbacks though. It is available only for US clients. Its product portfolio is fairly limited, covering only US stocks, ETFs, and a few cryptocurrencies. Lastly, research tools are very basic.

As the account opening process is seamless and SoFi Invest offers commission-free stock and ETF trades, you should feel free to try it.

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Moomoo is a trading-platform founded in 2018. It is a subsidiary of Futu Holdings Ltd. Securities product on moomoo is provided by Futu Inc, which is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). In Singapore, it is regulated by Monetary Authority of Singapore (MAS).

Trading on moomoo is safe because its securities product is regulated by top-tier financial authorities and a maximum of $500,000 investor protection is offered, including a $250,000 limit for cash, under the Securities Investor Protection Corporation's (SIPC) protection scheme.

Recommended for investors and traders looking for zero-commission trading and focusing on us markets.

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Fees

4.7

Moomoo offers commission-free trading of US stocks, ETFs and options. On the other hand, it has high margin rates.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening

4.4

Moomoo's account opening process is seamless, fully digital and fast, with no minimum deposit. However, it is currently available only for clients from the US and Singapore.

If you are interested more in moomoo minimum deposit, this overview will help you.

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Deposit and withdrawal

1.9

At moomoo, there is no deposit fee, and the whole process is user-friendly. However, you can use only bank transfer to add or withdraw funds, and wire withdrawal fees are high.

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Web trading platform

Moomoo does not have a web trading platform.

Learn more about moomoo's web trading platform in the detailed moomoo review.

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Markets and products

2.1

Moomoo has a limited product portfolio that includes only stocks, ETFs and options, mostly from the US. Other popular asset types such as funds, bonds or forex are not available.

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Verdict

Moomoo's fees are great, as you can trade US stocks, ETFs and options with zero commission. The account opening is easy, fully digital and fast. Moomoo offers quality analytical tools on its user-friendly mobile and desktop platforms.

Moomoo has some drawbacks, though. The product portfolio is limited, covering only stocks from the US, Hong Kong and China market, as well as ETFs and options. Among other limitations, you can use only bank transfer for deposits or withdrawals, and customer support is available only via email.

As the account opening process is seamless and moomoo offers commission-free stock and ETF trading, you should feel free to try it.

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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.

Recommended for beginners and investors looking for free us stocks/etfs and a simple, easy to use trading platform

Fees

4.9

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.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k

Account opening

5.0

Stake has a very simple and easy account opening process. It takes only a few minutes to open an account.

Learn more about Stake minimum deposit here.

Deposit and withdrawal

3.4

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.

Web trading platform

3.6

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.

Learn more about Stake's web trading platform in the detailed Stake review.

Markets and products

1.6

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.

Verdict

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. 

Based on our analysis, there are several good alternatives to Stake. They all offer similar products and target similar customers. Here's a recap of the results in a table.

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.