Do you want a stock in Nike, GoPRO or Dropbox for free?
Read to Stake review to discover how easy it is to secure yourself a US share for free! Firstly let me tell you a bit about Stake an online stockbroker that allows you to invest in the US share market. Stake is a share trading app that gives you the option to trade in over 3,700 different US stocks and ETF’s. Working in partnership with companies such as Macquarie and POLI they are changing the landscape of investing. Their mission is to make the US share market accessible globally all within the palm of your hand.
Stake Price Structure
The main point of difference would be their pricing structure. I have summarised a list of the benefits and pricing structure here:
- $0 brokerage fees
- No additional cost for fractional shares
- $0 Foreign Exchange Fees on trades
- No Custody/Account fees
- $0 Advanced orders
Firstly, Stake offers investors $0 brokerage fees on an unlimited amount of trades. In addition, there is $0 on fractional shares meaning that you won’t pay extra for shares with a split cost. Therefore you can choose any dollar amount of shares that you would like without an extra price tag. This enables more of the profits earned trading to remain in your wallet. There are also no foreign exchange fees on trades. However, you pay US$0.70 on every A$100 transferred into the account (there is a minimum Foreign exchange fee of US$2). Not a bad deal for a new investor entering into the market or a trader looking to switch brokers. There is also a premium version of Stake Black that is $9 a month. The subscription offers an indepth analysis of shares and price targets.
Trading Platform Competitors
If you compare other trading platforms in the same market there are many hidden fees that Stake does not charge its users. SelfWealth you would be paying a $9.50 USD brokerage fee per trade. Furthermore, NAB charges a 0.5% foreign Exchange Fee for each trade. Whilst this may seem minimal, this cost can add up when frequently trading shares. Commsec also charges a $25 per year account inactive fee. This inactivity fee does not get charged to Stake users. Finally, NAB can cost up to $55 AUD in trading fees from advanced orders placed on the Nab trading platform. It is clear that Stake has found a competitive advantage in its low-cost fee structure.
How do I claim my free stock?
To take advantage of this great offer and get your very own US Stock (either 1 Nike, GoPro, or Dropbox stock) you will need to create a new Stake account. This would require you to sign up on the Stake registration page. Once registered with funds deposited you can get access to a free random stock.
Once you have followed the sign-up prompts you will be required to deposit $50 AUD into the account within the first 24 hours.
Once the deposit is received you will be given the chance to spin the wheel for a free stock. Here you can claim either a Nike, GoPro, or Dropbox stock depending on what is rolled. Now you are able to Invest in US Stocks and ETFs on the new trading platform.
Stake ASX Trading
Stake has introduced trading on the Australian Stock Exchange (ASX). This is good news for Australian investors as their presence increases the market competition against competitors. Stake has introduced a $3 flat fee on brokerage and the platform is also CHESS Sponsored. This makes it the cheapest CHESS sponsored online brokerage platform to trade shares on the ASX.
You can track your investment and stay on top of your returns with Sharesight. If you sign up with this link you can also receive 10% off a Sharesight premium subscription. For disclosure, I would earn a small referral as part of the signup process. It is clear that Stake is offering investors great value for money. The low fees provide investors with a fantastic opportunity to enter the US share market all at a very low cost.
