Stake Review

Australian investors in US and ASX stocks

ASIC SEC FINRA

Founded 2017 · Australia

Why investors choose this broker

Flat A$3 or US$3 brokerage on trades up to A$/US$30,000
CHESS-sponsored ASX trading with individual HIN
Fractional shares available for US stocks from US$10
Access to 12,000+ US and ASX-listed equities

Review summary

Stake is an Australian investing platform offering access to 12,000+ US and ASX-listed stocks and ETFs at A$3 or US$3 per trade.

Pros

Flat A$3 or US$3 brokerage on trades up to A$/US$30,000
CHESS-sponsored ASX trading with individual HIN
Fractional shares available for US stocks from US$10
Access to 12,000+ US and ASX-listed equities
Extended pre-market and after-hours US trading
No inactivity fee and no account management fee
iOS and Android mobile apps

Cons

Limited to US and Australian markets only - no European, Asian or other exchanges
55 basis-point FX conversion fee on USD deposits
No fractional shares for ASX stocks
No CFDs, options, futures, margin trading or crypto
No demo account
Stake Black subscription required for analyst ratings, market depth and advanced data
Customer support limited to email and phone - no live chat

Company background

Stake is an Australian investing platform founded in Sydney in 2017 by Matt Leibowitz and Dan Silver. The platform launched on 14 August 2017 with a focus on low-cost access to US-listed equities. Stake has since expanded to include ASX trading, SMSF administration through Stake Super, and a managed income fund called Stake Accumulate. As of early 2026, the platform reports over 750,000 registered users and approximately A$7 billion in assets under administration across Australia and New Zealand. Stake's UK arm was sold to Freetrade and ceased operations in November 2024.

Fees and pricing

Stake charges A$3 per trade for ASX securities and US$3 per trade for Wall St securities, dropping to 0.01% for orders above A$/US$30,000. There is no account opening fee, no management fee and no inactivity fee. Wall St deposits carry a 55-basis-point (0.55%) FX conversion fee with a minimum of US$2. Card funding costs 0.5% for debit cards and 2.5% for credit cards. Withdrawals are free, with a minimum USD withdrawal of US$10. Stake Black is an optional subscription at $14 per month or $144 per year per market, adding analyst ratings, market depth, instant buying power for Wall St, and full financial data.

Regulation and safety

Stake operates through Stakeshop Pty Ltd (Authorised Representative No. 1241398) of Stakeshop AFSL Pty Ltd, which holds ASIC licence No. 548196. Stake is also registered as a Financial Services Provider in New Zealand (FSP774414). ASX trades are CHESS-sponsored under each customer's individual HIN, conferring direct legal ownership. US securities trades are arranged through DriveWealth LLC, regulated by the SEC and FINRA, with eligible client assets protected up to US$500,000 under SIPC.

Platform experience

Stake is available through a web application and iOS and Android mobile apps. The platform supports market, stop loss and limit orders, technical analysis charts, stock comparison tools, news feeds and sector filtering. US investors can access pre-market and after-hours trading. Fractional share investing for Wall St stocks starts from US$10; fractional ASX shares are not available under the CHESS full-share ownership model. There is no demo account.

Pros and cons

Stake's main strengths are its flat A$3 or US$3 brokerage, CHESS-sponsored ASX ownership, fractional US investing, access to 12,000+ equities and the absence of inactivity or management fees. The main limitations are restricted market coverage (US and ASX only), the FX conversion fee on USD deposits, no derivatives, margin or crypto, no demo account, and the requirement to subscribe to Stake Black for analyst data and market depth.

Ready to open an account at Stake?

Open an account directly with the broker. Confirm current fees and account eligibility on the broker's website before depositing.

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Your capital is at risk. Other fees apply.

Trading fees & commissions

Stake charges A$3 or US$3 per trade (0.01% for orders above A$/US$30,000) and a 55-basis-point FX conversion fee on AUD to USD conversions for Wall St deposits, with no inactivity fee and no account management fee.

Fees

Item	Fee
Account	No account opening fee; No management fee; No inactivity fee
Custody	Free (CHESS-sponsored HIN for ASX holdings)
Deposit	Bank transfer: Free; Card funding: 0.5% debit card, 2.5% credit card; FastFunds express deposit: 0.5% surcharge
Inactivity	Free
Withdrawal	No withdrawal fee; Minimum USD withdrawal: US$10
Fx Conversion	55 basis points (0.55%), minimum US$2, on AUD to USD conversion for Wall St deposits

Trading platform & features

Platforms

Stake Platform
Web app
iOS app
Android app

Regulation and investor protection

Stake operates through Stakeshop Pty Ltd, an Authorised Representative (No. 1241398) of Stakeshop AFSL Pty Ltd (AFSL 548196), which is licensed by ASIC. US securities trades are arranged through DriveWealth LLC, regulated by the SEC and FINRA, with client assets eligible for SIPC protection up to US$500,000.

Broker FAQs

Is Stake safe?

Stake operates under ASIC-licensed entity Stakeshop AFSL Pty Ltd (AFSL 548196). ASX holdings are CHESS-sponsored under individual HINs, and US securities held through DriveWealth LLC are eligible for SIPC protection up to US$500,000.

Is Stake a scam?

No. Stake is regulated by ASIC in Australia and arranges US trades through DriveWealth LLC, which is regulated by the SEC and FINRA. The platform has been operating since 2017 and reports over 750,000 registered users.

Is Stake regulated and by whom?

Yes. Stakeshop Pty Ltd is an Authorised Representative of Stakeshop AFSL Pty Ltd, which holds ASIC licence No. 548196. US securities trades are arranged through DriveWealth LLC, regulated by the SEC and FINRA.

Does Stake keep client funds in segregated accounts?

ASX holdings are CHESS-sponsored in each customer's own name under an individual HIN. US securities held through DriveWealth LLC are eligible for SIPC protection up to US$500,000.

What happens to my money if Stake goes bankrupt?

ASX shares are held in the customer's own CHESS HIN, not in Stake's name, which provides legal ownership directly. US securities held via DriveWealth are eligible for SIPC protection up to US$500,000 for securities and US$250,000 for cash.

What products does Stake offer?

Stake offers US and ASX-listed stocks and ETFs, fractional share investing for US stocks, SMSF administration through Stake Super, and a managed income fund called Stake Accumulate.

Does Stake offer ETFs?

Yes. Stake provides access to ETFs listed on both the ASX and US exchanges as part of its 12,000+ stock and ETF universe.

Can I buy fractional shares on Stake?

Yes, but only for Wall St (US-listed) stocks. The minimum fractional investment is US$10. ASX shares cannot be purchased as fractions due to the CHESS model requiring full-share ownership.

Does Stake offer CFDs, options or margin trading?

No. Stake does not offer CFDs, options, futures, margin trading or crypto. The platform is focused on direct ownership of equities.

What does Stake charge for stock trades?

Stake charges A$3 per trade for ASX stocks and US$3 per trade for Wall St stocks. For orders above A$/US$30,000, the fee is 0.01% of the order value.

What is Stake's FX conversion fee?

Stake charges 55 basis points (0.55%) with a minimum of US$2 on AUD to USD conversions when depositing funds for Wall St trading.

Is there a withdrawal fee at Stake?

No. Stake does not charge a withdrawal fee. The minimum withdrawal amount for USD funds is US$10.

Does Stake charge an inactivity fee?

No. Stake does not charge an inactivity fee.

What is Stake Black?

Stake Black is an optional subscription tier priced at $14 per month or $144 per year per market. It provides analyst ratings, price targets, full financial statements, instant buying power for Wall St, and market depth data for ASX. A combined plan covering both markets costs $20 per month or $204 per year.

Does Stake have a demo account?

No. Stake does not offer a demo or paper trading account.

Does Stake have a mobile app?

Yes. Stake offers apps for iOS (App Store) and Android (Google Play).

Is Stake good for beginners?

Stake's simple interface, flat-fee brokerage, fractional US stock investing from US$10 and straightforward account setup make it accessible for beginners. The absence of a demo account and limited research tools on the free tier are potential drawbacks.

Is Stake good for long-term investing?

Stake supports long-term buy-and-hold investing with CHESS-sponsored ASX ownership, US stock and ETF access, no inactivity fees and a managed income fund. It does not offer bonds, funds, options or other instruments used by some long-term investors.

Bottom line

Stake suits users who want low-cost, direct ownership of US and ASX-listed stocks and ETFs with CHESS sponsorship, fractional US investing and no inactivity or management fees. It may not suit users who need CFDs, options, margin trading, crypto, access to markets beyond the US and ASX, or a demo account.

Stake

Australian investors in US and ASX stocks

Open Account

Your capital is at risk. Other fees apply.