Stake Free $25 AUD Trading Credit Today (08/08) on Referral and First Deposit

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omgomgomgomg on 08/08/2018 - 19:11 stake.com.au (318 clicks)
Last edited 08/08/2018 - 21:48 by 1 other user

Stake is currently giving away $25 AUD credit to both referrer and new sign up. This is only for today (08/08) and the new sign up needs to fund the account before midnight AEST (min $50).

Stake simplifies trading in the American stock market through their online and mobile platform (currently only ios).

Details of promo are here
https://stakeshop.freshdesk.com/support/solutions/3500013325…

How it works

• Users and friends they refer to Stake earn A$25 Trading Credit from 00:01 to 23:59 8 August AEDT.
• Referred friends must sign up and perform a qualified funding for both the user and their friend to qualify.
• Stake users can earn an additional A$25 trading credit by funding their Stake account during the promotional period. Only one funding per user will earn credit.
• You must make fund by card, POLi or transfer from your Stake AUD Wallet → USD account to qualify for credit. Transfers into AUD wallets and USD → USD transfers do not apply. The minimum amount required to fund your account is $50. Fundings occurring after the promotional period do not qualify.
• You’ll receive an email when you have earned Trading Credit on the email associated with your account. You should receive this within an hour of qualifying for credit.
• The credit will take 2-3 business days to settle in your account. When the credit settles, we’ll will notify you that the money is ready to trade.

Note you will need a referral code on sign up to receive the credit. I did not see stake in the referral system and did not use it on the above click through. Moderators - my url looks like this if you wish to add it in

Mod: Added to referral system below. Please use a random referral code and/or add your own.

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  Kanye Barat on 08/08/2018 - 20:12

  signed up, did you try using it before? is it really true their comparison with big 4 banks? how long have they been around

  • 

    qiu1005 on 08/08/2018 - 20:31

    I have used it for 8-9 months now. Very reliable for US trading but fund transfer is slow, takes at least 4-5 days to get your money back after shares are sold.

  • 

    omgomgomgomg on 08/08/2018 - 20:42

    I have been with them since January this year. They make their money off the foreign exchange fees and account interest on any money left within their system. Their platform sits on top of Drivewealth which is their US broker so that is the company that holds the shares on your behalf. Have not had any issues with them over the last 6 months, app for ios came out at the start of July - it is easy to use and is pretty polished. They have also been saying on Facebook that the Android version is coming soon.

    Their comparison would mainly depend on what bank they picked the fees from but I know comsec used to charge $19.90 AUD per trade on Australia shares - not too sure for international. Stake charge on the foreign exchange fee but not on a per trade basis so they look particularly good when they compare 20 trades. Overall it will depend on what you want to buy - if you are looking at stock which is available on the Australian stock market it might be worth going to someone like Selfwealth (have not used but have heard some good things) which have lower fees than the banks and you wont be charged an FX fee.

    • 

      Kanye Barat on 08/08/2018 - 20:48

      -1

      meaning that we wont be getting any dividend?

      • 

        [Deactivated] on 08/08/2018 - 20:54

        I think they do pay divs on shares, and they say you get voting rights (except fractional shares).

      • 

        omgomgomgomg on 08/08/2018 - 20:55

        You do get dividends - they go directly back into your Stake trading account

  • 

    [Deactivated] on 08/08/2018 - 20:50

    +1

    how long have they been around

    I think late 2017.

    Also, as far as I could tell, just like Igmarkets.com.au, they lead you to believe 'you own the actual shares'.
    But I assume Citi bank do in fact, you own only a ledger entry in the us trading companies books. Could be wrong, but if bank has problem you may lose the lot. I'm just warning, so people can check the legal details if they care.

    • 

      gunslinger on 08/08/2018 - 22:05

      +1

      I'm pretty sure you're correct. I was led to believe that is normal for OS exchanges though and our registry system is the odd duck out.
      Anyone know for sure?
      I've been using stake for the last couple of months, no problems so far.

    • 

      josho9 on 08/08/2018 - 22:45

      +1

      I have not looked into this particular arrangement, but your shares are usually held by a separate custodian/nominee entity which is structured so that it should never be insolvent. The US banks generally do this.

• 

  [Deactivated] on 08/08/2018 - 20:39

  +1

  Applied last Saturday, still didn't get the Macquarie account details yet, so $25 deal is useless.

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  timetoquit on 08/08/2018 - 20:41

  always been lazy to set something up to buy us stocks. Would this be a good platform to use and fairly simplified like commsec?

  • 

    omgomgomgomg on 08/08/2018 - 20:46

    +1

    Yeah it is straight forward - you pretty much add the stocks you are interested into you cart and then purchase. Minimum order is $10 of a stock - they do support fractional shares. Stake will then execute the order when the market is open. Can watch the status on your dashboard which will lists everything you have.

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  atlinus on 08/08/2018 - 21:20

  Could bendisappointment, need to transfer funds within thenday

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  dealsniper on 08/08/2018 - 21:21

  how long does it take to setup (can i fund immediately)? can i get the $25 referral credit using someone's link and also get the $25 funding bonus?

  • 

    omgomgomgomg on 08/08/2018 - 21:46

    Just need an Australian ID and it should be quick. They will create you a Macquarie account which will take a few days to create but you can do POLi or card transfers straight up. POLi pay does not cost anything (except FX fees), there are some card fees if you go that route

  • 

    vaughan2 on 08/08/2018 - 21:53

    I believe you can, when i finished the fund they offered me a referral where both parties got an extra $25
    EDIT: for today only

    • 

      dealsniper on 08/08/2018 - 23:22

      do u get both credits (25refer +25 fund)?

      • 

        vaughan2 on 09/08/2018 - 09:15

        You did, sorry I left the computer.

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  atlinus on 08/08/2018 - 21:22

  I ranrcaboutcthemconly giving 18 hrs. Not 24 hrs. They send email at 6 am ends midnight.

  Comdition is newember needs to send fund by midnight.

  Theirccsupport could not even respond within the day, how they expect to fund in less than 24hr

  • 

    omgomgomgomg on 08/08/2018 - 21:43

    From their spiel, long as you initiate the a card or POLi transfer before midnight they will credit it after it settles.
    "The credit will take 2-3 business days to settle in your account. When the credit settles, we’ll will notify you that the money is ready to trade."

• 

  mrmc on 08/08/2018 - 21:42

  +1

  i set up an account for my mum , aus citizen using license details and funded with polipay - got the credit notification in about 30mins

  might be if you dont have australian id - you wont be able to open an account instantly

• 

  outlander on 08/08/2018 - 22:18

  +1

  Signed up to give it a try, but those fees, man.. You lose $5 right off the bat if you go with the default options (express, credit card)

  • 

    [Deactivated] on 09/08/2018 - 00:35

    +1

    I think it's great if you are going to trade US shares ongoing.
    You pay 2% I think for Aud->USD->AUD round trip. But if you leave your funds in USD, this is super cheap trading. I think it's a bargain compared to our sharetrade costs.