How to Get a Free Stock on Stake

How to get a free stock on StakeStake is an Australian app that lets you trade stocks without commissions.  They are currently running a bonus offer where you get a free stock when you sign up with the app and deposit funds.    So before signing up to Stake make sure you read this post to find out how to claim a free stock.

I’m not sure how long Stake will offer this free stock bonus, so if you were thinking of signing up, better to do it sooner rather than later.

How to Get a Free Stock

Here is how the bonus stock offer works on Stake:

  1. Sign up to Stake using this link (or enter the code: anthonyf346 when you register)
  2. Deposit Funds – you can deposit using either POLi or Credit/Debit Card
  3. Claim your free stock – you get to spin a wheel to win one of three stocks

What Free Stocks are on Offer

The free stocks may change in the future.  But when I wrote this post the three free stocks on offer were:

  • Nike – 2% chance of winning.
  • Dropbox – 20% chance of winning
  • GoPro – 78% chance of winning

You get to spin a wheel and you have more chances of winning the GoPro stock which is obviously less valuable.  As of writing, the Nike stock is worth over $100!  But no matter what, you get one of the three stocks, which is a pretty sweet deal.

Why I like Stake

I’m currently using Stake to build myself a Dividend Portfolio.  I’m using Stake for this so I can get access to the huge range of U.S stocks (over 3000 listed on Stake).  I’m mostly investing in High Dividend ETFs (such as VYM Vanguard High Yield Dividend) and REIT ETFs (VNQ Vanguard Real Estate).  There’s no way I could build a similar portfolio using just ASX listed stocks.

Here are some of the reasons why I like Stake:

  • Fractional Shares – You don’t need to buy a whole share.  Instead you can invest any dollar amount to buy a fraction of a share.  This means you can build your portfolio over a long period using dollar cost averaging.
  • No Commissions – Stake makes money from the FX conversion rate when you deposit AUD and it gets converted into USD.  The FX rate is very competitive and unlike other brokers you only get charged this when you deposit or withdraw and not every trade.  You’ll save a fortune in fees compared to a broker like Commsec or ANZ.
  • Huge range of Stocks – invest in thousands of different companies and ETFs.  You can invest in companies that you use and love like Netflix, Apple, Alphabet (google) etc.

The Best Stake Alternatives

The closest competitor to Stake in my opinion is eToro.  They recently added commission free trading for U.S stocks.  The main advantage of using eToro is you get more deposit options (including PayPal and wire transfer) and the FX conversion rate is better.  You can get started trading on eToro with just $50 and like Stake you can also invest in Fractional shares.

IG has also begun offering commission free trading on U.S shares.  I’m not as interested in this product as it requires you make a certain number of trades each quarter or you get charged a subscription fee.  Both Stake and eToro don’t charge any fees for holding onto stocks.

You can find out more about Stake here

This post is for educational purposes and should not be considered as investment advice. This post is based on individual experience and journalistic research.

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