If you’ve been following Project Financially Free for any amount of time, you may have read a few our stock trading app reviews. There is currently more choice out there than ever before when it comes to investing.
This time around, I’m looking at Stake. A digital brokerage platform born in Australia and now available in the UK. Their mission is to make it easy to trade US stocks for those out with the US. They are now on the ground in the UK, with a dedicated team here and are fully FCA regulated. It’s now starting to pick up a fair bit of steam, and there are plenty of good reasons for this.
But how does
Stake Review: Quick Summary
Don’t have time right now to read the full review? Don’t worry – here’s a short breakdown to help clue you in.
Stakeoffer completely unlimited commission-free trading.
- Over 3,800 US stocks and ETFs (more than any competitor).
Stakeis available for free with their ‘Standard’ account which includes fractional trading & advanced order types.
- They also offer a premium account ‘Black’ for $9/month (free until January 2021).
- The app offers tons of detail on financials with analyst ratings and price targets.
- App only interface for the time being although desktop is on the way.
- You can invest in only US stocks and ETFs.
- App interface is easy to use and the features are market leading.
- You can get started from as little as £50.
- You can get your hands on a FREE STOCK by signing up via this link.
In fact, if it’s your first time in looking into US shares and stocks in general, it’s likely you’ll find the platform to be refreshingly easy to use. It benefits from a very clean, simple design. As well as offering completely unlimited commission-free trading.
The companies you want to trade in come thick and fast, too. What’s more, the platform provides a solid amount of data. It’s pretty comprehensive if you’re fairly new to stock trading. You get a nice market topline overview section, too. So if you want to see how Nasdaq is doing – for example – you can do so with a quick glance.
What’s likely to work well for
How Many US Stocks Can You Trade In?
At present, Stake offers a huge number of stocks and ETFs, even if it is exclusively US-centric. Right now, you can trade in over 3,800 different US stocks and ETFs. All with zero commission on unlimited trades. This is an area where
If diversification within the US market is the name of the game, then you are going to want to give
How Does It Work?
Now we’ve taken a look at what the app aims to achieve, let’s consider how it actually works in practice. Right now,
The bank transfer deposit method powered by TrueLayer is very convenient. This connects your account securely via open banking. Meaning you can deposit funds with just a few clicks. You can pay in from as little as £50, too. Yes – there are other stock trading apps out there which demand less. Although this is still a low barrier to entry for most.
Sign Up to
Stake & Get a FREE STOCK!
If you want to take a look at
Stake Free To Use?
The only fees you will pay with
What’s immediately great to see here is of course that unlimited free trading option. In fact, the free model actually gives you a fair amount of functionality and flexibility. For example, you get unlimited free trades without having to sign up to a paid subscription level.
There are of course going to be a few more perks available if you’re happy to pay for a subscription. If you’re a seasoned trader then it’s worth taking a look at the premium account, Stake Black. By all means start with a free account. We recommend it if you’re finding your feet. Or if you’re planning on long term investing and don’t need additional features out with free trades and fractional shares. Though if you find the free option limiting, take a look at the premium account.
Until January 2021, you can take full advantage of the premium ‘Black’ account for free. Let’s take a look at the different levels and see how they compare.
As you’d imagine, a free
- Cost: Free
- Ideal For: Getting started with investing in US stocks
- Free Trades: Unlimited
- Fractional Shares?: Yes
- Market Orders?: Yes
- Advanced (limit & stop) Orders?: Yes
- Available: January 2021
Black is the premium account on
- Cost: $9 per month
- Ideal For: Advanced users and those with higher-value portfolios
- Free Trades: Unlimited
- Fractional Shares: Yes
- Market Orders: Yes
- Advanced (limit & stop) Orders: Yes
- Other Perks: Black gives you everything that the free account does plus additional features such as pro level data. Black accounts will also be the first to experience new features and upgrades to the platform
- Key Features: Full financial data on every company, analyst ratings, price targets, trading on unsettled funds
- Available: Now – and it’s free to use until January 2021
Stake Compare to Current Competitors?
OK – so let’s see how
In terms of premium paid account options Stake charge $9/month for access to the premium ‘Black’ account. Freetrade also have a paid for option ‘Freetrade Plus’ which costs £9.99/month. However the main selling point for Freetrade Plus is limit orders – something which Stake already offer within their free account. Freetrade have also moved a large selection of their stocks behind a paywall by making them only available to Plus account holders. Again Stake don’t limit their free account holders with all stocks available regardless if you are a free or paid for account.
Stake is now a very strong choice for app-friendly investors. It is entering into a very competitive market right now. However, its subscription options are well-defined. And the sheer number of US stocks available skyrockets it ahead of the pack.
The app’s interface is, overall, easy to use. It would be nice to have some kind of visual portfolio chart in place. That said, you can view your overall portfolio value and view your portfolio breakdown in table format.
The platform does have plenty of perks on board. Particularly the low minimum investment barrier set at £50. Plus the fact that there are unlimited commission-free trades at the free account level is a major bonus.
The Wrap is also a great resource which is likely to appeal to seasoned investors as well as newbies. It’s insightful in a way which is likely to introduce new investors to a host of potentially complicated topics.
That’s a Wrap
What’s on offer here is really impressive – few other apps and platforms have this sort of offering from the get-go. It’s also likely that it’s only going to continue to improve as time goes by and user feedback is taken on board. From what we know the team at
We certainly recommend you take a close look at the app. Particularly if your interest lies with trading in the US stock market. There is nothing else at this level which competes on that front. Oh, and don’t forget to grab yourself a free stock below to get you started!
Get Your Free Stock!
Sign up via the link below, fund your account within 24 hours, and you will receive a Free Stock of either GoPro, Dropbox or Nike!