Stake (hellostake.com) is a stock trading platform for Australians. Using Stake you can buy U.S stocks without any commissions! I’ve been testing it out, and think it’s a great way to buy stocks in the U.S.
Before signing up make sure you take advantage of this referral code to get a free stock!
Stake Referral Code – Get a Free Stock
Here is the latest referral code for Stake. This bonus offer will give you 1 free stock. It will either be GoPro, Nike or DropBox stock. Here’s how it works:
- Sign up to Stake using this link (or enter the code anthonyf346 on the signup page)
- Fund your account within 24 hours
- That’s it!
You’ll get access to a spinny wheel within the app or on the website. Spinning the wheel will give you one stock at random. The stock could be worth anywhere from $5 (GoPro) to $100 (Nike).
What is Stake
Stake is a trading platform for U.S stocks built for Australians. In the past it has been super expensive for Australians to trade U.S stocks. We don’t have access to free trading platforms like Robinhood. Well Stake is looking to shake things up by offering commission free stock trading on U.S stocks. This means you can invest in stocks like Apple, Netflix, Tesla, Microsoft and more. You can also invest in ETFs from companies like Vanguard.
Stake makes money on a small FX conversion fee. So when you fund your account with AUD (using a bank transfer or credit card) it gets converted into USD. The FX fee is competitive and better than what Australian banks charge. So overall you should end up saving money compared to using platforms like Commsec. It’s especially useful for traders who don’t want to invest a lot of money at any one time.
I’m currently trying out Stake. I decided to buy the Vanguard High Yield Dividend ETF (I’m experimenting with some Dividend investments). The app is pretty easy to use. The design could be better and they need to improve the charts, but placing a market order was super easy.
Advantages of Using Stake
- Commission Free – Don’t pay the huge ($9+) commissions that traditional brokers charge. You can buy and sell without paying any commissions
- Only pay the FX fee – The only fee you pay is the small conversion fee when you deposit AUD. And yes, you can deposit USD. I’ve found the FX conversion fee to be very reasonable.
- Deposit using POLi – POLi lets you deposit online using your bank account. It’s a service offered by Australia Post.
- Deposit using Credit/Debit Cards – if you want to make a trade quickly and need fast access to your funds, then you can also deposit using a debit or credit card.
- Trade U.S Stocks – Trade a huge range of stocks. The ASX is tiny compared to the offerings available through Stake.
Looking for more personal finance offers?
I keep track of all the latest personal finance offers so you can always get the best deal. Here are some of the others:
- Get $5 free on Spaceship when you join and link your bank account
- Get $5 free on Raiz
- Get $1 free when you join Qmee
- Get $5 free when you join the cashback site ShopBack
- Get $10 free Bitcoin when you join CoinSpot and make a crypto purchase
- Get $100+ Free Crypto on CoinBase when you join through this link and use Coinbase Earn (for free!)