Buy it, sell it or DRP it, repeat it - harder better faster stronger.
Cheapest deal in town for ASX trading!
$3 brokerage on all trades up to $30,000, whether it’s Wall St or the ASX.
$3 Brokerage Fees on ASX Trades up to $30,000 (HIN) @ Stake
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dK69 on 11/01/2022 - 16:10 hellostake.com (2798 clicks)
Last edited 09/01/2024 - 16:33 by 2 other users
Last edited 09/01/2024 - 16:33 by 2 other users
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I currently use Commsec which they charge a significant premium for just because its integrated with your bank account. How do settlements/deposits for Stake work?
You get your own BSB and Account number to send money via bank transfer. Not all that different from Commsec. I've had STAKE for a while now to buy TSLA and love it. So much better that the antiquated big banks…
Tsla from the us market? How do you hold usd with hellostake?
Well that's the other benefit of using stake!
@Fishballs: It only cost $3 for ASX and is free for US Stocks. Self wealth is the next cheapest and it's $9.50 per trade.
I used CMC Markets which is 11 per trade (depending on how much money you move) and moving all of my stocks to Self wealth wasn't worth it $1.50 per trade but to save $8 per trade I reckon it's worth the move. The platform is fairly basic but it does all of the necessary things. I am happy with the switch to Stake.
@E5TOQUE: depending on your trade size, opentrader is also a good option. its 5 dollars for trades upto 5k and 10 for trades upto 10k.
@mwahahaha: Depending on parcel size, the next cheapest would be OpenTrader which is $5 per trade up to $5k
@mwahahaha: Open trader is next cheapest. It used to be at 5$. Though there is no app, it's good with charting and real time data.
@pennypacker42069: was good when you could fund/deposit with WISE but now they dictate the in/out AUD:USD FX rate.
@MITM: they are also very misleading, they advertise the fee as "70 basis points" but it cost me 3.5% to convert USD to AUD on Stake last month
Stake and Selfwealth both give you a BSB and Account # to transfer, and they both support Osko now, so you receive your money within a matter of minutes.
Pearler is the same too. They give you a PayID for instant transfers
Seriously there's no benefit these days with the 'integrated bank account / broker' because brokers like SelfWealth does OSKO instant bank transfers.
But how do you transfer more than 20k?
Ring your bank, and give them the BSB and Account number. Done it a few times.
It usually takes 2 days to transfer.I dont use the instant OSKO transfer, as it's only $2k. Usually I save up a decent amount then ring the bank to transfer it over every 6-8 weeks.
I'm with Selfwealth.
@hothed: Ring the bank?? What is this the bronze age? Just do a bsb/account transfer online, There's no limit.
@iwatchfatpplsleep: The comment you're responding to is from the bronze age, 2 years ago
Though I believe the point is some banks have limits for instant osko transfers, larger transfers can take a day or two unless the bank offers other instant transfer methods
You have to transfer beforehand, wait for funds to clear, then buy your shares. Whereas commsec do a 2 day settlement post purchase which is not available in the cheaper options.
Commsec is only $5 per trade?
Commsec cut their fees recently. Its not nearly as good as stake, but its better than it was..
Does it have stop loss order?
Yes.
How?
Stop loss hunting ;)
Not yet but hopefully soon :)
Bring back $0!
Pearler do $0 brokerage on certain ETF's.
Don't Selfwealth have discounted brokerage at the moment too?
Pretty sure Selfwealth had free brokerage before Christmas.
Self wealth had free brokerage on ETFs before Christmas.
I'm hoping they bring it back. (I'm with Selfwealth)
Are they CHESS sponsored yet?
Yes.
AUS Stocks were always CHESS sponsered.
IG markets don't do chess sponsored for example.
Wanted to say, buying Aus shares from Stake's were always CHESS Sponsered. Not talking about others markets.
Incorrect, eg. Superhero
Was answering scaryspace when he asked if Stake are CHESS sponsered.
That's same with basically all brokers, you'll get spammed with mail at the beginning (almost all from ASX, or the shares that you buy, not actually from stake or whichever broker you choose), some you might need to keep, a lot of it not really needed and could be digital. You can set up digital communication through the share registry after you've got your HIN and registered but that will be after you've already got a lot of mail.
^ this. the ASX is unattractive to dabble in to begin with but this makes it further unattractive.
It's unbelievable the amount of paper they still waste to justify fees - courtesy of the ASX and the share registries (Boardroom, Computershare, and Link Market Services). Upgrading their 30 year old systems is just too daunting for those twats.
For context - The US has had zero fee platforms for years.
If you're not paying for a product, you are the product.
Payment for order flow is not something that should be celebrated.
They make money on the FX spread. PFOF doesn't happen on the ASX
@blighst: Not even talking about currency trading?
Zero fee platforms in the US make money by selling orders to market makers, i.e., PFOF.
What are you going on about?
@dpark88: You can't deposit USD into stake, and they have a ~0.9% spread on currency conversion.
That (alongside paid subscriptions) is the bulk of their US business. They don't even execute the orders - so any PFOF benefit is going to Drivewealth.
@blighst: I think you're getting your wires crossed.
I was talking about zero-fee brokers in the US in general, e.g., Robinhood.
I wasn't talking specifically about Stake's model.
The US has had zero fee platforms for years.
You should learn why and then be thankful we live in a wonderful country backed by a solid financial system.
^ this.
Most underrated comment.
Genuine question: can you explain this more?
is it easy to transfer current commsec shares to them free of charge?
Yes. Process is 100% in-app and takes 3-4 days
Stake's app or commsec's? I'm with NabTrade, is that the same process and free? What about international shares?
You initiate the transfer in the Stake app. Stake will import from Commsec.
Check with old broker. Mine said there were no fees. NabTrade may be different.
Haven’t tried importing international shares yet.
Is it same for Self Wealth to Stake?
Commsec will charge you to transfer out?
Nope.
Commsec may request certified copy of your ID before transferring your shares to Stake.
If you like to have access to information while trading, note that Stake currently doesn't show orderbook and market depth data. They also don't provide in-depth company details, financials and ratios. Not everyone needs this kind of info when trading, and skimping on paying for these data sources this might be one way they can bring prices down.
Also, having too much info on a phone-based trading app might just be more clutter.
Oh, and that's another point to be aware of: Stake doesn't offer a web-based trading platform, so you can't really do trades from your desktop.
doesn't offer a web-based trading platform, so you can't really do trades from your desktop.
That's not true. I bought an ETF on the ASX today on my laptop.
Oh, nice! Couldn't find that on their site a month ago when they still had the $0 brokerage. Just confirmed now that it works, but still no orderbook.
what are the benefit of able to see orderbook?
@CyberMurning: so you can see supply and demand, bid, ask price etc …
if you not a frequent traders and just buy and hold it doesn't matter too much
just set your buy price and number of shares, you can also use commsec for that sort of information then place your order via Stake
Yeh, but Stake definietly has a web-platform. There's just bare data available.
Keep your old platform for the better info, and just do the transaction in Stake.
Does anyone know if there are any fees associated transferring from CMC?
Would I get charged an Off market transfer fee from CMC?
If you keep your HIN then no. I've done it transferring to SelfWealth a while back. Easy as
Stake doesn’t allow you to keep your hin. They issue you with a new hin when you open an account and then do individual stock transfers to new hin. This means that for each share you have you need to reset up your bank details and communication preferences etc at the registry all over again.
When your checking with your previous broker if they charge fees ensure you check that for individual share transfers from one hin to another in the same name.
(Not a stake account holder. This is what I’ve gathered from looking into their new asx offering. DYOR)
That doesn't make sense - All prior brokers I've used have allowed me to keep my prior HIN and transfer in.
I transferred from CMC last year and it went very smoothly. No fee and was processed in a couple of days. You’ll then have to contact CMC (in a longer than expected process) to close your account
Broker to Broker share transfer in the same name is not off market transfer
no one should charge you any money for this processI transferred everything from CMC to Stake a month back and it was super easy, zero fees.
Thanks, just processed a transfer from SelfWealth. All you need to switch over is Drivers licence and 1-2 weeks of waiting
Any fees transferring from Selfwealth?
Not that I've been made aware of. Didn't even think about fees so I hope not!
None
They charge for US stocks:
"Please note there is a fee of $110.00 AUD including GST per holding for a Stock Transfer out of SelfWealth, in other words this is $110.00 AUD 'per company'. The funds would be debited from your SelfWealth AUD Cash Account."That's Selfwealth that charge. Stake advertise free transfers into Stake.
Do they do margin loans against any shares you transfer to them? I hope Commsec reduce their brokerage with all this competition
don't hope just move over enough people move they need to stay competitive and drop price
Stake has been doing really well since the $3 ASX CHESS trade
lot of people signed up and switched over 54,000 customers switch over in just a couple weeks
add 2 of my kids to the stats and 3 of my nieces and nephew
Good deal, switching from nabtrade
So, for buying ETFs too, one does not need to pay any fees? For example, if I buy VDHG and VGS on SelfWealth or Pearler, charges are $9.50 per ETF, with Stake is it free? PS: I am new to investing.
Costs $3 for securities listed on the ASX
Worth testing it out. I'll miss T+2's though.
T+2 is a pain. Every other broker offers instant buying power after selling
Stake offers instant buying for ASX after a SELL
Don't they do T+2? How long does it take for trades to settle
everything is T+2 it ASX rules not broker, what he mean is Stake wont let you buy and sell shares if you don't have the fund in your account
so you can't sell shares A then buy shares B in the same day as you got to wait for Shares A to settle with the money in the account first then you allow to
buy shares B.Stakes is cheap for that reason, comsec, selfweath and other offers this features but if you don't use it then it doesn't matter go for cheapest chess broker
For ASX it allows instant BUY after SELL before the settlement
Superhero is not chess sponsored though. It is in custodian structure. Personally I would prefer Stake. However, Superhero Tax CGT report is top notch if you are doing swing/day trading.
u buying shares or buying shoes?
Thanks person who clicked my referral!
Anyone that has changed over to stake, how is their platform compared to CMC?
Dupe https://www.ozbargain.com.au/node/668801