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$25 / $100 / $150 Cash Bonus When You Transfer Your ASX Shares Portfolio (Min $20,000 / $50,000 / $150,000) @ Stake

450
$25 / $100 / $150 Cash Bonus When You Transfer Your ASX Shares Portfolio (Min $20,000 / $50,000 / $150,000) @ Stake
Go to Deal
onetwothreefour on 15/01/2023 - 08:03 hellostake.com (1864 clicks)
Last edited 16/01/2023 - 15:40 by 2 other users

I just signed up with Stake as recommended on my forum post. After signing up I received the below offer by email.

Good to have you with us. How about going full Stake and earning some easy cash?

A large part of our 500K+ customers have brought across stocks from other brokers to access CHESS-sponsored trades at lower costs. And they didn’t even have the reward upgrade we have for you now.

Initiate the transfer of your existing ASX shares to Stake in the next week, and we’ll reward you according to the transfer value:

Portfolio Size Reward
$20k-$50k $25 cash
$50k-$150k $100 cash
+$150k $150 cash

Cash rewards go directly into your Stake AUS trading account within 7 business days after the transfer is complete.

It takes just a couple of minutes to request a portfolio transfer, then we do all the heavy lifting. Start yours in the next seven days to claim your upgraded reward. The upgraded reward will be automatically credited in your Stake AUS within 7 business days after the transfer is complete.

how it works

Transfer your ASX portfolio to Stake for the first time within seven calendar days of being invited to earn rewards worth up to A$150 cash. Your upgraded reward will depend on the total value of your transferred shares - see the below table for more information.

An eligible portfolio transfer is one that has the transfer form submitted within the promotional period and is successfully processed by Stake. The promotional period begins on the date of invitation via email and ends seven calendar days later (inclusive). This offer is exclusive to customers who have been directly invited by Stake to participate in this promotion. Stake shall determine eligibility for rewards in its sole discretion. See terms and conditions for further information.

Referral Links

Referral: random (1125)

Referrer gets $1 off brokerage for 12 months for each referral. Referees gets $10 bonus (funding account within 24 hours of sign-up required).

Financial Broker Share Trading

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Comments

  • ruskiromka on 15/01/2023 - 08:11
    +1

    Is this for new customers only?

    • onetwothreefour on 15/01/2023 - 08:23

      I don't think so, I have updated the link which take you to the page on the website.

  • RED27APPLE on 15/01/2023 - 08:23
    +1

    FYI - They don’t do Joint Accounts :(
    Real shame, as I can’t transfer across

    • payless69 on 15/01/2023 - 09:49

      Sounds like Ergon Energy: They consider marriage an act of obsolete dirt!

  • SBOB on 15/01/2023 - 08:33
    +9

    This offer is exclusive to customers who have been directly invited by Stake to participate in this promotion.

    Seems targetted…..

  • StarPlatinum on 15/01/2023 - 08:41
    +2

    The free brokerage they had for transferring your portfolio was pretty sweet

    • cplagz on 15/01/2023 - 12:12
      +2

      Agreed I did two transfers of over $10k and got nearly 2 years of free brokerage (expiring soon unfortunately 😭)

  • dajackal on 15/01/2023 - 08:59
    +3

    For someone like me that only trades at most once a month, this is way better than the previous 12 months free brokerage deal. Just a word of warning: transferring results in you getting a new HIN and a tonne of paperwork for each holding. Huge PITA

    • onetwothreefour on 15/01/2023 - 09:29
      +1

      Unfortunately I have no option other than to transfer as the platform I'm with currently want to chargena fee of $20 per month as well as $5 brokerage per trade.

      • worrierwan on 15/01/2023 - 11:39
        +1

        My thoughts exactly with moving to stake cause of opentrader closing. Thought it was quite scummy of them to change their business model like that

    • muwu on 15/01/2023 - 09:44

      Stake don't offer the option to transfer your HIN and holdings?

      I transferred to SelfWealth ~18mo ago and had the option between new or carry-over existing HIN/holdings.

      I think the issue is brokers probably funnel you toward applying for a new HIN because it can process the application very quickly and you have close to immediate access to the new account, whereas a HIN/holdings transfer can take maybe the better part of a week (or maybe several weeks, worst case scenario). That friction probably results in both brokers and customers applying for new HINs most times they opt to use a new broker 🤷‍♂️

    • huggsymersh on 15/01/2023 - 10:00

      What kind of paperwork is involved? I've thought of transferring brokerage for a while but the paperwork puts me off, but for some reason I can't quite get my head around what it actually is!

      When I've made changes to investments in the past there's always something that pops up down the track that creates an issue that I didn't anticipate that causes headaches. Usually unforeseen tax or admin stuff.

      • dpk on 15/01/2023 - 10:11

        There is no paper work, transfer is easy. Some brokers like selfwealth wants your signature etc. Transfer process is easier from stake side, only other brokers usually do the delay. But it can be done in a week or two. He may be mentioning the letters that you receive as a paperwork.

        • huggsymersh on 15/01/2023 - 10:36

          ah I see. then that's not quite such a big deal, particularly since I already receive relentless statements from computershare for each DRP allocation.

    • tm32 on 15/01/2023 - 10:16

      Last one I did was a huge PITA with DRIP holdings. The timing apparently mattered whereby it reverted to dividend, and it took some doing to resolve.

    • Sgav89 on 15/01/2023 - 11:51

      You are correct. One solution is to merge both HINs on sites like Computershare, then you can 'apply' your bank settings to all holdings whether they are kept at multiple brokers (E.g. Stake and Selfwealth).

    • cplagz on 15/01/2023 - 12:14
      +1

      One batch of statements for leaving and one for adding holdings. It's such a waste of paper and time. I did have one that stuffed up somehow and didn't apply correct banking details so my doc's ended up being paid on the next cycle

      • dajackal on 15/01/2023 - 13:45

        Plus a letter for banking, email, TFN details etc for each holding. Once for when Stake prefills, and another once you go in and update yourself

  • Dyl on 15/01/2023 - 09:28
    +9

    Pretty average sigup bonus isn't it? A lot of paperwork for only $150 when you need to transfer 150k+

    • onetwothreefour on 15/01/2023 - 09:29
      -1

      Link to better deal?

      • Dyl on 15/01/2023 - 09:31
        +2

        I see these advertised everywhere, Tigerbrokers + shopback + random targetted deal is probs more and you only need to put in as little as $50 + $100 shares

        • blighst on 15/01/2023 - 09:43
          -2

          No reason you can't do both?

    • eli8te on 15/01/2023 - 10:13
      +4

      A lot of paperwork is just false lol

      • dpk on 15/01/2023 - 10:16
        +1

        That's right, don't understand what paperwork they are talking about may be the letters they get in a post which are redundant.

  • mogley on 15/01/2023 - 09:56
    +5

    Beware of stake's FX fees and calculate how much you will get SMASHED converting back to AUD one day if your portfolio grows.

    Compare to IBKR which just hits you for pretty close to spot.

    Am in the process of moving everything out of Stake.

    • onetwothreefour on 15/01/2023 - 10:07
      +1

      Not planning on buying US stocks but will keep this in mind.

    • souljah on 15/01/2023 - 10:55

      How is the IBKR platform to use? I've been considering switching from selfwealth for the better international share rates.

      • Hydrogen on 15/01/2023 - 11:08
        +1

        My opinion: IBKR has good trade execution
        IBKR also has a lot of features and settings and therefore the platform can seem complex for new people.

    • Alialh on 15/01/2023 - 15:17

      IBKR is good, I use them myself for both local and international
      From my understanding the asx holdings aren’t chess sponsored but that doesn’t bother me as they’re one of the largest in US

  • Pleasure Paulie on 15/01/2023 - 10:02

    I transferred in like 5 days ago, can I still get this?

    • dpk on 15/01/2023 - 10:18

      Do fresh transfer of another one, may be buy another stock and transfer.

    • ihbh on 15/01/2023 - 10:34

      Why not transfer back and then back again.

  • CoreJava on 15/01/2023 - 10:12
    -7

    There is no free lunch. This is to lure you in and then they will do a FTX

  • Hugh G Rection on 15/01/2023 - 10:24
    +3

    lmao, this isn't even worth transferring over. im actually happy where i am, and this isn't enough to convince me to switch. ymmv

  • gromit on 15/01/2023 - 10:30
    +7

    0.1%? Are people really willing to transfer for such a tiny benefit? I can imagine if you already planned to do it then great but I doubt anyone would seriously consider this that wasn't already going to do it.

  • ihbh on 15/01/2023 - 10:33
    -1

    Make sure you do your DD and ensure the broker can't borrow your funds to inject into their related hedge fund which invests in dodgy things that can go belly up. :)

    • congo on 15/01/2023 - 10:44

      DD ?

      • souljah on 15/01/2023 - 10:53

        Due diligence - I'm guessing

  • Charlie Dont Surf on 15/01/2023 - 10:52
    +2

    Their trading platform is bare-bones, but it works.

    If you transfer your portfolio across, remember to visit Computershare/Link Market and amend your bank account details for dividends etc, as Stake will set it to your funding account by default.

  • BargainBuddy on 15/01/2023 - 11:28
    +1

    They have very high transfer out fees.

    • Charlie Dont Surf on 15/01/2023 - 11:44

      US market only.

      • BargainBuddy on 15/01/2023 - 13:12

        AU based EFTs as well. At least that's what their support said when I asked them.

      • dpk on 15/01/2023 - 15:35

        Transfer fee does not apply to ASX shares

  • billsa on 15/01/2023 - 11:35

    they seem very generous

  • 01011010 on 15/01/2023 - 11:57
    +7

    Fyi make sure you use hellostake.com and not stake.com - that's a different 'money investment' site.

  • Jhonka on 15/01/2023 - 13:03

    How much do they charge to transfer out?

    • dpk on 15/01/2023 - 15:36
      +1

      Transfer fee does not apply to ASX shares through any broker

      • Jhonka on 15/01/2023 - 17:27

        What about international non ASX?

        • dpk on 16/01/2023 - 06:19

          US transfers are usually expensive with most of the brokers, it's better to sell and buy than transfer US shares.

  • rlagksquf on 15/01/2023 - 13:35
    -1

    I am happy with Stake but the fact that they do not peovide EOFY tax report makes me considering moving out

    • dpk on 15/01/2023 - 15:37
      +2

      EOFY statements provided by brokers are useless, you can use sharesight for free to get them.

      • vorsprung on 15/01/2023 - 20:53
        +2

        Yeah commsec not much use for CGT. Dividends are pre-filled by the time I do my tax return. I wish Sharesight was more affordable for 10-20 holdings. Crazy jump in price from free to $20/m. Sticking with my spreadsheet for the time being…

  • worrierwan on 15/01/2023 - 14:03

    For anyone else transferring from Open Markets/Marketech, is there a transfer fee from moving out from them?

    • airpoe on 25/01/2023 - 23:37

      no

  • bvbfan on 16/01/2023 - 21:53

    Couple of issues with Stake.

    Most annoying gripe - any cash you have in the account is held against pending trades.
    If you sell some shares that would cover all or part of the pending trades, the cash held cannot be withdrawn without cancelling your pending trades or the settlement of the shares sold settles in T + 2.

    The app and paperless transfer form crashes everytime I try to do a transfer in & attach ID.

  • JamesLucas on 06/07/2023 - 15:16

    Do I have to transfer the whole portfolio, or can I just transfer one stock?

    • onetwothreefour on 06/07/2023 - 16:11
      +1

      From memory you can just do one stock.

  • kzl on 01/08/2023 - 00:05

    Thanks OP, I got the email offer exactly 24 hours after I signed up. I think it's only targeted at people who don't take up the first smaller offer which expires in 24 hours.

  • amorn on 21/10/2023 - 13:46

    seems I opened account before they introduced ASX and never used it. if I close it now and open again, can I qualify for this promo.

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