Other Review
Stake Review 2026 — Is Stake Legit?
Score Summary
out of 10
Stake is an Australian fintech platform offering commission-free trading of US and Australian stocks. ASIC-regulated in Australia and with a growing international presence, Stake provides Australian investors with easy access to Wall Street at competitive rates.
Overview
Stake was founded in 2017 in Sydney, Australia, by Matt Leibowitz with the goal of giving Australian investors easy access to US stock markets. The platform initially focused exclusively on US equities before expanding to include Australian shares (ASX) in 2022. Stake has grown to serve hundreds of thousands of customers across Australia, New Zealand, the UK, and Brazil.
The platform offers a streamlined mobile and web experience focused on share trading. Unlike many competitors, Stake offers direct market access to US exchanges (NYSE, NASDAQ) rather than CFDs, meaning users own the actual underlying shares. In Australia, Stake operates through DriveWealth LLC (a US-registered broker-dealer) for US shares and through Stake's own Australian Financial Services License for ASX shares.
Tip
Stake provides direct ownership of US shares, not CFDs. This means investors receive actual shareholder rights including dividend payments and the ability to vote on corporate actions. US shares are held in custody through DriveWealth, which is SIPC-protected.
Regulatory Status
- ASIC (Australia) — Australian Financial Services License (AFSL 548498) for ASX trading
- DriveWealth LLC — SEC/FINRA registered broker-dealer (US shares held through this entity)
- SIPC — US share holdings protected through DriveWealth's SIPC membership
- FCA (UK) — Registered for UK operations
Fee Structure
| Fee Type | Amount |
|---|---|
| US Share Trading | $0 (free) |
| ASX Share Trading | $3 per trade |
| FX Fee (AUD to USD) | 0.70% |
| Deposit (US account) | Free (bank transfer) |
| Withdrawal (US account) | $2 |
| Stake Black (premium) | AUD $9/month |
Warning
The 0.70% FX conversion fee on AUD-to-USD transfers is the primary cost for Australian investors buying US stocks. On a $10,000 investment, this equates to $70 each way. For frequent traders, these costs accumulate quickly.
Platform & Tools
- Stake Web & Mobile App — Clean interface with real-time US market data, portfolio tracking, and simple order entry
- Order Types — Market, limit, stop-loss, and stop-limit orders
- Fractional Shares — Available for US stocks, allowing investment with any dollar amount
- Stake Black — Premium tier with access to analyst data, advanced market insights, and priority support
- ASX Trading — Australian shares through the dedicated ASX platform
- Watchlists & Alerts — Customizable watchlists and price alerts
The platform is designed for simplicity. Advanced charting and technical analysis tools are limited compared to full-featured brokerages.
Customer Support
- In-app and email support during business hours
- Help center with FAQ articles
- Response times of 24-48 hours for email tickets
- No phone support
- Community channels on social media
Trustworthiness
Stake has a clean operational record:
- ASIC-regulated for Australian operations
- US shares held through SIPC-protected DriveWealth
- Transparent about business model (FX fees and premium subscriptions as revenue sources)
- No significant security incidents or regulatory actions
- Venture capital-backed with institutional investors
- Still a relatively young company (founded 2017)
Conclusion
Stake earns a Recommended verdict with a score of 7.1. It is a solid option for Australian investors who want easy, direct access to US stock markets without CFDs. The commission-free US trading and fractional shares are appealing, though the FX fee is a meaningful cost. The ASX offering adds domestic share trading capability. Stake is best suited for buy-and-hold investors rather than active traders who need advanced tools.
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