Stake is an Australian fintech platform founded in 2017, originally built around commission-free US share trading for Australians. In recent years, Stake has expanded to include ASX shares and ETFs alongside its core US market offering. Stake is popular among investors who want affordable access to US-listed companies and ETFs — though it uses a custodian model rather than CHESS for ASX holdings.
Stake at a Glance
| Feature | Detail |
|---|---|
| US shares brokerage | $0 (commission-free) |
| ASX shares brokerage | $3.00 flat |
| ASX ETF brokerage | $3.00 flat |
| Monthly fee | $0 (Stake Standard) |
| CHESS sponsored (ASX) | No — custodian model |
| Minimum investment | $10 (US shares) |
| Fractional shares | Yes — US shares |
| Auto-invest | No |
| Mobile app | Yes |
| FX fee (USD) | ~0.7% FX conversion on USD funding |
Custodian Model — Important for Australian Investors
Stake uses a custodian model for ASX-listed securities — shares are held by Stake’s custodian on behalf of investors, not directly in the investor’s name. This is different from CHESS-sponsored platforms like SelfWealth, Pearler, CommSec, and Superhero. See CHESS vs Custodian.
In a custodian model, if Stake were to fail, there could be delays or complexity in accessing shares — even though client assets are legally separated from Stake’s own assets.
US Share Access — Stake’s Strength
Stake provides access to NYSE and NASDAQ-listed securities commission-free. This includes:
- Major US companies (Apple, Microsoft, Alphabet, Tesla, etc.)
- US-listed ETFs (though most are restricted for Australian retail investors under ASIC rules)
- Fractional shares — invest from $10 in high-priced stocks
Funding US purchases requires AUD-to-USD conversion at a ~0.7% FX rate, which is a cost to factor into total fees.
Stake Black (Premium Plan)
Stake offers a paid premium tier “Stake Black” with additional features:
- Reduced FX rates
- Extended hours trading
- Priority customer support
- Additional market data
This attracts a monthly fee and suits higher-frequency or higher-volume US investors.
Stake Pros and Cons
Pros
- Commission-free US shares
- $3 flat ASX brokerage
- Fractional US shares
- Low minimum investment ($10 for US shares)
- Clean, modern mobile app
Cons
- Custodian model for ASX (not CHESS sponsored)
- FX conversion fee on USD funding (~0.7%)
- No auto-invest / DCA scheduling
- No CHESS HIN for ASX holdings
- US ETF restrictions apply (most US ETFs unavailable to Australian retail investors)
Who Is Stake Best For?
Stake suits:
- Investors primarily interested in US-listed shares
- Investors wanting fractional shares in US companies
- Investors comfortable with the custodian model
- Beginners wanting US exposure with low minimums
Superhero, Pearler, or SelfWealth may be preferable for primarily ASX-focused investors who want CHESS sponsorship.
Related Articles
- Stake vs Superhero
- Best Broker for International Shares
- CHESS vs Custodian Explained
- Brokerage Fees Comparison Australia
- Share Trading Platforms hub
Frequently Asked Questions
Is Stake regulated in Australia? Yes. Stake operates under an AFSL regulated by ASIC. Client assets are held separately from Stake’s own funds by a licensed custodian.
Does Stake have a desktop version? Yes. Stake is available on mobile (iOS and Android) and via a web platform.
Can I access Australian ETFs on Stake? Yes. ASX-listed ETFs (VAS, VGS, DHHF, etc.) are available on Stake for $3 per trade, though held in a custodian structure rather than under CHESS.
This article provides general financial information only. Stake fees and features described are as of the date of publication and may have changed. For advice tailored to your situation, speak with a licensed financial adviser. You can find one through the ASIC financial advisers register or MoneySmart.