In this article, we discuss Stake, what it is and how it may or may not work for you. It’s important to understand exactly what each platform or app does, so you can choose the best investment strategy for you.
What is Stake?
Stake is an online stockbroker that offers trading in ASX and U.S. stocks and ETFs for Australian investors. You can buy whole or fractional shares in U.S. listed companies for US$3 brokerage per trade and Aussie shares and ETFs are charged A$3 brokerage per trade.
When you trade on Stake, you can only trade in US dollars.
Stake allows users to trade on the ASX with CHESS sponsorship and you will have your own Holder Identification Number (HIN). Because Stake offers a CHESS-sponsored model, shares are held on your own HIN and only whole shares are supported. You cannot purchase fractional ASX shares.
The initial purchase of shares in any listed ASX company or ETF must be at least $500. This is the ASX ‘minimum marketable parcel’ rule. However after that initial $500 purchase, there is no minimum on subsequent purchases of shares in the same company.
What is Stake Black?
Stake has an upgraded version of their platform, called Stake Black. Stake black has three membership models that provide access to either AUS features, Wall Street features or both (AUS and Wall Street). Stake Black is priced at $20/month or $17/month when billed yearly for the combined package (or $14 per month / $12 per month when billed yearly for either of the individual market products).
Stake Black offers analyst ratings, pro-level data, and price targets.
How much does Stake charge in brokerage?
Stake AUS charges A$3 per trade (or 0.01% for orders above A$30,000), while Wall Street trading is charged at US$3 per trade (or 0.01% for orders above A$30,000).
Stake Wall Street also charges a FX fee of 55 bps (0.55%) applied when you convert to or from USD.
Is Stake safe?
Stake uses DriveWealth, a B2B U.S. broker-dealer who, via ICBC US acts as the custodian of the US shares you purchase via your Stake account. DriveWealth, LLC is a broker-dealer registered with FINRA (U.S. regulator) and a member of SIPC, which protects Stake investors who own U.S. securities for up to US$500,000.
The custody holding model used by DriveWealth comes with a different set of benefits of risks compared to the direct ownership model in Australia where your investments can be held on your name at the registry via your own individual Holder Identification Number (HIN).
Find out why direct ownership of your investments is important.
Can you day trade on Stake?
When you use Stake, you’re subject to the Pattern Day Trading rule which means you can’t make more than three day-trades (buys and sells of the same share in the same day) in a “rolling” five-day period (five trading days in a row).
This rule doesn’t apply if you have $25,000 or more of equity in your account.
If you’re marked as a Pattern Day Trader, you may be restricted from making another day trade for 90 days under US regulatory (FINRA) rules. You can read about Pattern Day Traders on Stake’s website, and you can read our tips for aspiring day traders.
How does Stake work?
You can create an account with Stake on their website in a few minutes and are able to fund your account on the same day. You’ll need to verify your ID in the process so make sure you have a form of ID available. Once your account has been set up and funded you will be able to buy and sell ASX and U.S. shares.
You can search for U.S. and ASX stocks and ETFs via the Stake app’s search function, and you can add stocks to your watchlist via the love heart button.
In addition to individual searches, the app sets out investment categories such as cannabis, gold and emerging markets.
Once you’ve figured out what you want to invest in, the Add Funds page is where you’ll make AUD deposits which are automatically converted to US dollars.
Stake and Robinhood compared
When Stake launched, it was touted as the Robinhood alternative in Australia. Both Stake and Robinhood are both online investing platforms offering access to stock and ETF trading.
The two platforms do however differ, Stake offers access to both U.S. and Australian markets while Robinhood primarily focuses on U.S. markets but also offers cryptocurrency trading.
Stake charges a flat $3 brokerage fee for trades up to $30,000 while Robinhood offers commission-free trading on stocks, ETFs, and options.
In 2025 Robinhood introduced robo-advice wealth management services more similar to those offered by Stockspot, while Stake remained focused on providing access to U.S. and Australian markets for self directed investors without any financial advice.
Stake and Superhero compared
Stake and Superhero are both Australian investment platforms providing access to U.S. and Australian markets. Superhero charges lower brokerage fees, with A$2 for ASX trades and US$2 for U.S. trades, while Stake charges A$3 for trades up to A$30,000.
A major difference between the two platforms is the share ownership structure; Stake offers CHESS-sponsored trading, giving investors direct ownership of Australian shares, whereas Superhero uses a custodian model.
Read more about Superhero here.
Can you trade cryptocurrency on Stake?
No. Stake does not allow investors direct access to buy or sell cryptocurrency. While the Stake platform primarily focuses on investing in stocks and ETFs, you can indirectly gain exposure to the cryptocurrency market by investing in Bitcoin ETFs.
Stake and SelfWealth compared
Selfwealth is an Australian investment platform offering flat-fee trading and access to both domestic and international markets. Both platforms provide access to Australian and U.S. markets. Both platforms offer CHESS-sponsored trading for ASX-listed securities, ensuring your investments are held directly in your name on your own individual HIN.
Find out more about SelfWealth and how it compares to Stockspot.
Stake and Stockspot compared
The main difference between Stockspot and Superhero is that Stockspot provides investment advice and an automated investing service. With Stockspot, your personal situation is reviewed, and then you receive a recommendation for the best-suited investment strategy based on your goals and how long you plan to be invested.
Once you settle on your investment strategy, you get a properly diversified portfolio (including Australian shares, global shares, emerging markets, bonds and gold). Stockspot reviews the investment on an ongoing basis and will rebalance your portfolio when necessary.
With Stake you need to pick all of the investments yourself and review them yourself. If your aim is to regularly buy and sell investments to try and make short term profits, this might be your preferred strategy.
For some people, managing their own investments can be a rewarding hobby. But studies have shown that correct investment selection, the right portfolio allocation and automatic rebalancing can add over 2% p.a. in performance each year. Stockspot manages all of this for you so you can benefit from expertise and automation and you don’t need to worry about anything.
You can see how the Stockspot portfolios have performed here.
