• long running

$3 Brokerage Fees on ASX Trades (HIN) @ Stake

1830

Buy it, sell it or DRP it, repeat it - harder better faster stronger.

Cheapest deal in town for ASX trading!

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Comments

        • The sharesies account is under my name. I use Stake for myself.

  • +7

    Good about Stake ASX:

    1. cheapest CHESS sponsor trading

    Bad about Stake ASX:

    1. They don't give you stop loss option
    2. They don't give you basic market depth
    3. They don't show value traded
    4. Not good for trading as you don't have basic info needed for trading
    5. Unsettled fund can't be used unlike selfwealth which allows you to use the unsettled fund
    6. No charts
    7. Not as much financial information as selfwealth

    I use stake and using it only for buy and hold type stock.

    • +4

      Points 5 and 6 are incorrect.
      You can sell a stock and immediately use the proceeds to purchase another. Once you sell a stock your buying power will go up by the settlement amount.
      No fancy charting, but they have simple price charts.

      • No guaranteed stop loss?
        How about buy at target price?

        • Negative from what I can tell.
          Simple limit orders is all I used it for.

      • Hmm weird 2 different people saying the same ie cant use unsettled funds

        • Strange indeed.

          I have only traded with Stake in December, so perhaps this is a recent change?

        • +3

          Quoting from their website:

          CAN I TRADE ON UNSETTLED FUNDS?
          You are able to trade on unsettled funds with Stake on the ASX.

          If you sell $500 worth of shares that settle in T+2 days you can still use $500 immediately to purchase more stock. If you wish to withdraw $500, you will have to wait T+2 days for the funds to settle

          Link
          https://hellostake.com/au/support/aus/articles/35000187091

      • +1

        Just saw your link, I tried two week ago and it didn't allow me to purchase. Will check again

    • Get what you pay for.

      Quality ain't cheap and cheap ain't quality.

    • There is a reason they are cheaper, Market Depth cost the money, Charts, Financial info etc costs the money but you can get them for free with other apps

      1. You can use CommSec, Selfwealth
      2. Get the basic info elsewhere it is not affecting trading
      3. You can buy but can't withdraw immediately
      4. Get it from others
      5. Get it from others
      • Biggest drawback is stop loss as without this feature it is not worth using for trading.

        I moved few months ago and now I have to keep eye on my speculative stock every few minutes to make sure I don't miss out on tide ( high or low) which is painful and not suitable for long term.

        Stop loss will help stake to earn money as more trader will join with that feature in my opinion.

        • Agree, Stoploss is good feature to have, but its still better than Selfwealth. If everyone moves out there will be a competetion like in US brokers.

          • @dpk: For day trader trailing stoploss is a must feature to do trading. They can live with normal stoploss which selfwealth provide but complete lack of stoploss feature is negative for day trader.

            I moved to stake and every month I send stake asking them to introduce stoploss and I believe all StakeASX customer should do the same.

            • @SydBoy: I just now sent them an email asking for the stoploss feature

            • @SydBoy: Good way to pick up cheap shares is when prices plunge because of these automatic stop losses that people seem to use.

  • +1

    One KEY aspect for me choosing SelfWealth over Stake is that you can use your unsettled funds to buy other stocks, instead of waiting 2-3 days. This is important because For example, I sell $20,000 worth of my BHP stocks. I can then immedietly use those funds to buy $20,000 worth of FMG stocks.

    With Stake, you need to wait T+2 days for the funds to settle after you sold your BHP stocks before you can purchase FMG stocks. As you can gather, those 2 days could be vital in making a huge profit. It's a huge missed opportunity.

    Selfwealth has market depth. Stake doesnt.
    Stake doesn't have a stop-loss option.
    SelfWealth has a really quick (relative) to Stake transfer from AUD to USD (deposit before 9.30am (IIRC) and recieve your funds by the start of trading at 1.30am when the US Markets open.

    Basically Stake are great for beginners. Who buy and hold. Don't require much indepth analysis.

    • +1

      one thing I noticed from SelfWealth is their US dividend doesn’t match with Sharesight and my own calculations. My understanding is if the company paid $1 for 100 shares, I supposed to get $85 after US tax. Not sure if other people encountered the same issues or not.

      I tried their support but no response yet.

      • US government (IRS) automatically takes 15% of all dividends (from us Aussies)

        • Yes, but the number I saw in SelfWealth is either higher or lower. Not sure why is that. I never have problems of dividend from Stake

      • do you know any software/excel spreadsheet available which does the EOY CGT calculations? I am not with Sharesight.

        • But ShareSight is free up to 10 holdings. Im with the free version currently but im thinking of buying the investor package (unlimited holdings). It’s tax deductible.

    • yeah Stake is bare minimum basic stuff not suit for traders, good for buying DCA ETFs etc …

      comsec it let you buy shares even without money in the account, I just need to have it by settlement day
      so money stays in the properties offset account for 2 extra day save interest on two extra days and transfer over on settlement day

      I reckon comsec need to drop to selfwealth price else they going start to lose customers to Stake and the like

    • I have no problem buying and selling shares simultaneously. There is no T+2 issue here. Unless you want to withdraw the money, then you will need to wait for it to settle. Once you sold whatever amount of shares, those amount will go into your buying power and you can buy immediately.

      How I overcome the shortcoming is pairing apps. Eg commsec for market depth and volume and trading view/yahoo finance for historical pricing and chart.

      Good thing is Stake is super quick in placing & executing orders. Selfwealth app on the other hand is super laggy and always have error message in amending order.

      • Agree, I also observed that stake is super quick not just with placing orders but their live price update much faster as well.

    • Not true - with Stake and ASX trading once you sell you can use the funds to buy something else.

      The US market you are correct, unless you sign up to Stake Black.

    • In Stake ASX, You can can sell BHP & Buy FMG instantly before the settlement. I have seen the money moved to buying power instantly after the SELL.

  • If I ever need to transfer out from Stake, anyone knows if there’s any fees? I tried to look it up on their website but the only fee they have listed related to ASX is the $3 brokerage fee.

    • +1

      No fees when I transferred during beta. I guess still free till now - its paperless transfer.

    • as long as you have another CHESS account with another broker, transfer should be free going from Stake to whoever

    • Yes there are fees to transfer out, for each stock. My terrible memory thinks its about $100 each stock.

      • Thats for US stocks

  • +1

    Use stake only to execute your trade. Really basic features such as company research, charts etc

    • Do you have a platform recommendation for a side account for research?

      • +2

        Jsut keep a Commsec account open - free live pricing etc

      • I used CMC for research along with commsec.

      • Tradingview.com for charts

  • +3

    Selfwealth wont let me transfer unless i physically print out the form, sign it with a real pen, and scan it and send it back to them. Making it real hard to move. Even NAB didn't require me to do this, only needed to provide ID and HIN etc.

    • Is that transfer into or out of Selfwealth? Did they charge and transfer fees?

    • got nothing to do with Selfwealth, your new broker will initiates this request for you so if you signed up with Stake
      and want to transfer your shares to Stake you just have to follow Stake procedure
      if they are being a dick about it, it another good reason to leave

      • +1

        Nah Selfwealth want a wet signature when Stake initiates it.

        It's not major - just a print sign and scan

        • +4

          road block more reasons to motivate you to leave

    • +1

      I suffered for 1 month as selfwealth keep reject my digital submission.

      I end up signing form and send scanned copy to stake to get all stock transferred.

      • Might have to do that, but first gotta find a printer and hopefully using the phone to take a photo is suffice. Annoying af

    • +1

      They are real annoying with that stuff. I wanted to change my nominated bank account and they wanted the same thing. I just gave up since I couldn't be bothered with all that.

  • can u buy in stake with it showing in commsec?

    • no, different broker, different IT system, different HIN

  • +1

    I'm using Pearler and the app is extremely easy to navigate and operate. How would Stake compare to Pearler in terms of app usability for a complete new investor?

    • 1+ for Pearler. Its very good.
      Just signed up to Stake to compare. I have a feeling Pearler will be more in depth. And the $0 brokerage on those ETF's comes in handy.

      • Hmmm honestly underwhelmed by the free ETF options - Van Eyk, ETF Securities & EInvest options only - which aren't generally overly popular ETFs. Great marketing idea by them but I think it's a short sighted play to buy these over other options just to save the brokerage.

      • +3

        ETFs offered by pearler that are free will cost you more in the long run as it has higher MER and pearler probably get kicked back for it
        $3 stake to buy cheapest betashares and vanguards ETFs work out much better in the long run

    • Stake's app is very basic, but effective enough. Easy to trade, and the portfolio view is minimalist (no benchmarking etc). As mentioned already in this thread, there is no data provided on market depth.

      Edit: I prefer desktop, because at least there you can sort your portfolio by value. Whereas on the app, individual stocks display alphabetically only.

  • stake allows you to buy portion of share… does anyone know a reason for it??

    If stake goes bankrupt.. what happens with the shares??

    • +1

      stake allows you to buy portion of share… does anyone know a reason for it??

      Only on the American markets.

      If stake goes bankrupt.. what happens with the shares??

      For AU which this deal is referring to, the shares are all held under your own HIN, meaning if Stake goes under, you just pack up and move your HIN to another broker.

  • Stake is good for cheap brokerage. At $3 for CHESS you can’t beat it if making reasonable sized trades.

    Another option is superhero. Note is is not chess but rather custodian structure which is important to some but not others. Personally I take advantage of the free brokerage on ASX listed ETF via superhero. Literally $0 brokerage and is amazing for periodic investing.

    Stake is a good option for cheap brokerage and basic platform.

    • custodian holding has risk that could end up costing you a lot more if something gone rouge
      During bull market everything seems rosy once crash start, margin call kicked in, cascading effect of the money flow, liquidity start to get squeeze some of the business start to go burst you are in line as a creditor to get your stuff back

      CHESS is bullet proof against this sort of system failure
      A wise man once told me beware of saving a penny that may end up cost you a dollar

      • Whilst I understand the sentiment and recognise custodian is not for everyone, I would respectfully challenge your notion of custodian structure. The custodian holds your shares on account not the broker, they are still your shares and no creditors have any claims against them. Should the broker go bankrupt, the custodian can transfer your shares to another broker, however this obviously can take a little longer then a direct CHESS holding.

        As said in my opening comment, custodian structure is not everyone's cup of tea so do your own research and make conclusions. For periodical investing into ETFs (eg a strategy of say buying 1 or 2 ETF shares every month with $200 out of my wage) superhero meets my purposes. For a cheap brokerage for all other ASX listed shares (or US for that matter) STAKE is a great option too.

        I use both of these and also have a NABTRADE to have some big 4 coverage :)

        • +1

          You obvious haven’t seen custodian business that went bankrupt during GFC
          You will have to line up and claimed your asset like everyone else and it could be a long long process

          It not free for all in a sense and they do try their best to keep your asset in a trust but you know when shits hits the fans nothing is guaranteed

    • People who do reasonable sized trades wouldn't be using a platform such as Stake.

  • +8

    It makes me laugh that some people are saying things like, "Stake is only good for beginners that buy and hold."

    I would argue that people trying to beat the market are beginners and that most sensible traders are buying and holding.

    (I'm with Self Wealth btw.)

    • Had a giggle about this one myself :)

      I have multiple brokerage accounts and brokerages depending on strategy. I bought my first shares about 20 years ago (arguably still a beginner though lol), yet I have accounts specifically for buy and hold investing. CommSec has it's place as you get a trading limit which is higher than cash account to place buy orders and can transfer in settlement funds anytime over the settlement period, as far as I'm aware they are the only ones offering this - https://www.commsec.com.au/support/help-centre/placing-a-tra...

      Osko is fine and all but not all banks offer it (HSBC get your act together); others (e.g. Bankwest) only have $1k transaction limit and $5k daily limit.

  • +3

    I know $3 is really cheap compare to like CommSec, but kind of ironic it get posted onto Ozb right after it jacked up from $0 to $3 :)

    • $0 is for trial only till Jan, it always been $3 as their price when they open to the wider public after Jan
      pretty hard to offer free brokerage with CHESS account as there are associated cost with CHESS but $3 is a bloody good bargain

  • +1

    This might be a stupid question. Is it possible to use two brokers at the same time (2 HINs)? Using Commsec but thinking about setting up Stake without transferring current holdings…

    • You can have multiple HIN afaik

    • Yes you can.

    • Had the same question. More than 2 becomes confusing I think

  • I wish commsec would do $3 trades. Great app but they're resting on their laurels

    • +1

      They need to fund their market leading operation somehow, can't do it on $3/trade.

  • +2

    Seems the 'free' stock bonus is only for funding the US trading account - not the ASX one - might be worth clarifying that one in the OP. Still a good option overall - used a referral link but doubt anything will come from it.

    • I was wondering the same after singing up as i did not receive anything after signing up for asx. Do they mention this somewhere on their website?

      • I think they're deliberately misleading about it for exactly that reason - it seems only actively spruiked on their US pages etc.

      • you'd need the initial deposit placed into the US trading account.

        think of them as different platforms

        • +2

          so annoying, they charge w8-BEN Fee of 5USD and FX fee of 2USD for a $50AUD transfer. not sure if that would even be worth it!

  • …does anyone know how to contact Stake, theres no number or email just their support faq which they hope nets the bulk to questions.

    Irrespective of what I do restart, reinstall app, upload a different photo I cant upload my photo Id to begin the portfolio transfer section.
    "Your documents failed to load please check your internet connection and try again." My wifi and 4g internet is fine..

  • What's the fastest broker to use for US market?

    i.e, transfer from savings bank to stake/selfwealth and then to convert to USD to buy.

    I believe both SW and Stake will take ~48 hours to make a purchase from initial transfer of AUD funds?

    • +1

      may want to investigate superhero

    • +1

      superhero. use payid to transfer instantly then can convert to usd immediately.

      • thanks!

  • +1

    Can I move my shares in CommSec over so it's all managed under 1 platform?

  • +1

    Yes you can, also better keep your comsec account open and don’t close it as it has better features you can use
    and use stake to execute your order only to save on brokerage

    • Im assuming I can also move my shares from stake to CommSec as well?

  • Did anyone find a way to transfer US dollars from Wise to Stake and vice versa?

  • Anyone know who holds the cash in the bank account before settlement? Is it held by a bank and protected by the AU government? I know CMC is held by ANZ I think (use to be Bankwest).

    Just don't want to loose my savings if i'm unfortunate enough for Stake to collapse as I'm buying/selling and have a large amount of cash deposited in my share account

    Edit: i've done some research I think the money is held in an account with Airwallex. They're not an ADI and your money is not protected by the FCS Australian Government Guarantee. Given I do about 6 trades a year, the saving isn't worth the risk for me and I'll stick with CMC Markets/ANZ

    • This is what in the email

      This is a digital ANZ bank account in your name with your own BSB & Account Number where you’ll receive dividends.

      You will soon receive a letter from the ASX that cites our broker partner Finclear and contains your Holder Identification Number (HIN) which means all your shares with Stake are held by you in your own name.

      For every new holding you buy on the ASX, you will also receive a confirmation letter of your ANZ bank account linked to your Stake wallet

      • Thanks for sharing this!

        • So how about that airwallet you were talking before?

      • Anyone know?:

        Will the ASX and ANZ letter be BY POSTAL MAIL or by EMAIL?

  • Currently with IBKR and they charge $6 a trade but I like their trade station. Not sure if it's worth moving to Stake.

    • Interactive broker? Whats good about their trade station?

  • +1

    Sorry for the noob question but I haven't bought shares for over a decade now but still have a Commsec and ANZ E-trade account (think I used both at the time for some first trade promo!).

    For a general trade with no intention of a quick turnaround (long hold) or other interests into data etc, is there any other reason why you wouldn't use this platform for $3 compared to Commsec $30?

    Also can you transfer the shares to Commsec or will either party charge fees? TIA

    • No reason. In fact if I were you I’d open the stake account and transact for $3.
      FYI I already have a stake account and find them very good for simple execution (not day trading).

      Stake don’t charge fees for transferring shares from another broker.

  • Whats the app and website like?

    • It takes a bit of getting used to but its fine other than there being no market depth.

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