• long running

$1 off ASX Share Brokerage for 12 Months for Referrer, $10 Bonus for Referee (Fund Account within 24 Hours Required) @ Stake

1040
$1 off ASX Share Brokerage for 12 Months for Referrer, $10 Bonus for Referee (Fund Account within 24 Hours Required) @ Stake
Go to Deal
jynxx8 on 31/01/2022 - 12:08 hellostake.com (1335 clicks)
Last edited 31/01/2022 - 18:22 by 1 other user

I noticed Stake is doing a $10 referral bonus for referees and the referrer gets $1 off brokerage for 12 months.

Stake is already the cheapest CHESS sponsored broker at $3 a trade so this just makes it even cheaper and they also have instant deposits which is a bonus. Great for dollar cost averaging.

"When friends use your referral code and fund their Stake AUS account, you'll get $1 off your brokerage for 12 months per referral.

If they fund their new account within 24 hours of signing up they will $10 bonus to trade with.

If you refer more than 3 friends, your 4th reward will activate when any active rewards expire.

Discounted trades are capped at 10 trades per month. Any trades after 10 will be at the standard brokerage of $3 per trade."

T&Cs

Referral Links

Referral: random (1013)

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 Brokerage Share Trading

Related Stores

Stake
Stake

Comments

  • GimmeCashback on 31/01/2022 - 12:23

    Nice deal!

  • as01 on 31/01/2022 - 12:24

    Are these guys generally regarded as a good broker for first time investors wanting to invest in international markets?

    • Mistredo on 31/01/2022 - 14:05

      If you can stomach their FX fees then yes.

      • kuruptz on 31/01/2022 - 14:18

        "70BPS ON DEPOSIT AND WITHDRAWAL ONLY" is this what you're referring to? that wouldn't make a massive difference unless you withdraw/transfer often. Unless I'm missing something? What platform has better FX fees? From my research Stake seemed to end up cheapest even if I'm buying to hold and not trade.

        I've been looking for a place to buy some ETF's.

        • Mistredo on 31/01/2022 - 14:23

          It is a lot compared to what you would pay with Wise and other FX services. Sadly, I don't think there is any other broker with better FX fees. Superhero has exactly the same.

        • Moddy on 31/01/2022 - 14:39
          +9

          Stake might be great for AU but the US trading is sub-par and misleading.

          They charge 70bps USD per AUD. This is actually over 90bps! They should get in trouble for pricing like this.

          Interactive brokers charge 0.002% rather than Stake's 0.9%+. IB has an amazing wholesale rate for fx, a lot of non-bank brokers use fx brokers that alread pad the rate by 0.1% before the fx fee is charged.

          IB do charge 1usd flat for brokerage or you can used their tiered structure that costs 0.35usd for most trades. If you price your order inside the spread, they'll even waive your brokerage as a thankyou for adding liquidity (the US exhanges encourage this).

          Basically, a $3k trade will cost over $20 on Stake US in fx fees rather than the total fees of around 50c on IB.

          • tharlow on 31/01/2022 - 15:43

            @Moddy:

            They charge 70bps USD per AUD. This is actually over 90bps!

            Good post… except for this rubbish

            e.g. exchange rate 1 AUD = 0.70 USD

            Whether you take 70 basis points (0.7%) in fees before or after the conversion makes no difference whatsoever

            100 AUD * 0.993 * 0.7

            is exactly the same as

            100 AUD * 0.7 * 0.993

            • Moddy on 31/01/2022 - 16:07
              +5

              @tharlow: Unfortunately, you're incorrect.

              Refer to gross fx margin in https://hellostake.com/au/legal/financial-services-guide

              "70 FX points from the spot rate, ie. $0.70 on every A$100 transferred (min FX fee $2)."

              All Stake US fees are charged in USD. It's very misleading.

              So assuming aud/usd of 0.7 and transfer of $3k AUD. 3K AUD becomes $2100USD then $21USD gets deducted for fx fee (30 * 0.7). 21 USD then becomes $30AUD. $30AUD is 1% of $3k AUD.

              The trick is charging a USD fee per AUD transferred. They also don't pad the spot rate with their fee, they charge against the AUD amount. This is poor. Multiplying a 0.70 exchange rate by 1.007 adds 0.0049 to make a final rate of 0.7049 (what other brokers do, really they use the inverse of this rate, see SuperHero). I don't use Stake US. Maybe they're not that bad and their doco just sucks.

              Stake aren't too bad, there are others like CMC that charge less FX but then don't have a USD account at all, so you get hit with auto fx fees ALL THE TIME.

              • tharlow on 31/01/2022 - 18:40
                +1

                @Moddy:

                All Stake US fees are charged in USD. It's very misleading.

                • Moddy on 31/01/2022 - 18:47
                  +1

                  @tharlow: Read the link. They charge $0.70USD per $100AUD converted.

                  Unless you have personal experience using Stake US to the contrary, the Stake FSG clearly says it.

                  Do Stake need to fix the FSG or do you need to wrap your mind around it before understanding?

                  • tharlow on 31/01/2022 - 18:50
                    +4

                    @Moddy:

                    All Stake US fees are charged in USD. It's very misleading.

                    Wow.

                    “A simple way to think about it: Stake fee is US$0.70 per AU$100 transferred in or out.”

                    You are correct! Unbelievable bullshit. No wonder they use the “basis points” obfuscation…

                    My humble apologies

                    • Moddy on 31/01/2022 - 18:56
                      +3

                      @tharlow: All good mate. Just trying to educate. Would have been happy to had been wrong as it would have meant the fees were better than I thought.

                      They use simplification to obfuscate.

                      I'm surprised someone hasn't complained to the regulator.

                      I guess I should be happy the US traders on their platform are subsidising my AU trades…..

                      • tharlow on 31/01/2022 - 19:06

                        @Moddy: If they said “pips” instead of “basis points” then they may have had a leg to stand on…

                        • Moddy on 31/01/2022 - 20:10
                          +1

                          @tharlow: To really rub the salt in the wound, Stake US reserve the right to charge $5USD everytime a W8-BEN form is submitted (every 3 years) and will charge up to 0.03USD per quarter, per stock in ADR fees.

                          They also charge $200USD to transfer out holdings for up to 4 holdings, then $50USD each over that. Pretty average for a lot of US brokers but the minimum is a bit nasty, SW is $110AUD each.

                          IB is almost the only one that doesn't charge to transfer US shares out.

          • Jrod on 31/01/2022 - 20:05

            @Moddy: hey Moddy good post i have been thinking of switching to ibkr currently on stake. Do you know if ibkr allows dividend reinvestment plans, stake currently doesnt have this feature which is disappointing.

            • Moddy on 31/01/2022 - 20:19

              @Jrod: Dividend reinvestment doesn't really exist with US trading. Where it is available, it's a specific platform feature we don't normally see on platforms aussies can access that has the platform doing an auto trade rather than simply receiving DRP shares from a registry. Neither IB or Stake support this for US trading.

              Stake AU is CHESS and supports DRP where the AU holding supports it.

              IB is not CHESS and does not support DRP for AU holdings.

              Stake is a better platform than IB for AU trading. Use IB for any other market.

    • askbargain on 31/01/2022 - 12:45
      +3

      Where is rektrading?

  • Chookt on 31/01/2022 - 12:34

    I can’t find my referral code. Help!

  • aneil915 on 31/01/2022 - 12:35

    Thanks OP

  • xabiso on 31/01/2022 - 12:43
    +1

    The new referral codes start with your first name, If you are getting a 6 digit code, that's a referral code used during their Beta launch.

  • me1stt on 31/01/2022 - 12:50

    Discounted Brokerage also applies to portfolio transfer.

  • countmein on 31/01/2022 - 13:00

    In the app, under Profile. The same code under Rewards (its all Capital letters) but it also says Free US Stocks and Trade the ASX at $0. Anyone got the same?

  • capslock on 31/01/2022 - 13:39

    Best broker for day trading because it is so cheap.

  • vorsprung on 31/01/2022 - 13:49

    I'm with Commsec which is arguably the most expensive broker, so I just signed up to compare if I could cut over to Stake.

    There doesn't seem to be any order depth available and pricing is certainly not live. There's no indication that pricing is delayed, so when people are complaining about slow execution of orders on ProductReview… the lack of live pricing might explain why.

    No contra settlement, so if you sell you need to wait T+2 days before you can use those funds to buy something else. Many probably don't care about this.

    Stake is appealing, but I don't trade a ridiculous amount so I'm happy to stick with Commsec for the time being and bear the extra cost here and there.

    • Mel1764 on 31/01/2022 - 13:58
      +8

      I buy on stake but keep my commsec account open for research purposes.

    • Moddy on 31/01/2022 - 14:18
      +1

      Trading on unsettled funds is allowed - https://hellostake.com/au/support/aus/articles/35000187091

      Yes there is no market depth which is available. Prices are live when viewing individual stocks or ordering but it appears they're using chi-x exchange data which is different. Bid/offer figures are close to what I see on SW.

      If you're using limit orders, at worst, you'll get no fill or a better price than expected.

      I use SW while using Stake to keep an eye on it and I'm happy.

      Yes, Stake is super light on research. SW and Commsec are much better. There are other sources of info than just brokers though.

      Stake or SW save you loads of money if you need to make large adjustments. Enjoy paying 6-10 times more for trades for features you largely seem to not need anyway….

    • capslock on 31/01/2022 - 14:28

      so if you sell you need to wait T+2 days before you can use those funds to buy something els

      This is so incorrect. I don't know where you got this from.

      • vorsprung on 31/01/2022 - 14:31
        -1

        Regurgitating information from the internet is where I got it from.
        Thanks to you and Moddy for the correction, I'd edit my post if I could.

    • star-ggg on 31/01/2022 - 16:42

      They fixed the settlement issue post beta

  • Trying2SaveABuck on 31/01/2022 - 14:05
    +6

    best broker to buy ASX stocks hands down

  • recession1 on 31/01/2022 - 15:03
    +4

    Really wish they would add market depth. The convenience of having that in one place is enough for me to pay more for SelfWealth.

    • vinnychase on 31/01/2022 - 15:09

      what do you use market depth for. That's the table that shows buyer and seller demand/supply for different prices right?

      • recession1 on 31/01/2022 - 15:39

        Yeah you’re right about what it is.

        I mostly trade small caps, where watching the depth live can give you an idea of whether big buy or sell orders are going through. That can in turn influence where to price your order. It’s less useful for large caps.

    • Moddy on 31/01/2022 - 15:11
      +2

      My biggest gripe is they really need to support HIN transfers. Moving holdings onto a new HIN is very annoying and can cost money as one can lose residual DRP cash depending on the DRP policy of the holdings you move.

      That's the number one issue IMO, then market depth. I was happy to cop the loss of a few $ on some of my holdings. The admin effort and paperwork with redoing everything with Link, Computershares and the Chess system definitely isn't great.

      Migrating the whole HIN is the gold standard. Stake's market participant FinClear definitely support it.

      • barghunt1 on 31/01/2022 - 15:32
        +2

        Wholeheartedly agree. This is something they need to do asap. If you’ve gone to the effort to set up your holdings on you hin a particular way, having to do that all again is a pain in the backside.

  • barghunt1 on 31/01/2022 - 15:36
    +3

    Stake has also begun offering 12 months free asx brokerage (first 10 trades per month) if you transfer portfolio to them with certain conditions.

    Refer to their blog post for further info and conditions.

    https://hellostake.com/au/blog/stake-updates/asx-portfolio-t…

    Unclear if offer has an expiry date.

    • star-ggg on 31/01/2022 - 16:43

      Does SW charge for transferring portfolio out?

      • Moddy on 31/01/2022 - 16:51

        Not for AU stocks. Remember, Stake can only move them onto a new HIN atm.

        SW charge $110 PER HOLDING for US stocks. :(

  • plain_biscuit on 31/01/2022 - 15:43

    Hmm, is it ozbargained? Surely not, tried on Brave, Chrome, Edge, all just hangs after entering details to sign up? Unless it's the "Referral code" that's causing it to hang? Anyone else had any issues signing up?

    EDIT: Ad blocker - my bad

  • shabaka on 31/01/2022 - 18:14
    +1

    the way they have mobile phone and then "stake" on the snapshot, it looks like mobile phone covers some letters at the beginning there

    could just read "mistake" for all we know

    bad design move

  • vk4ma on 31/01/2022 - 18:37

    You need to weigh up the savings here vs what you lose by not having market depth and live pricing.
    If you are a regular trader - let's say one trade per trading day (or more) you would be surprised by how much you can lose by not getting your entry / exit points on trades because you are using another system like Commsec (on the side) for this data.

    • capslock on 31/01/2022 - 18:42

      It's what I do now and I don't see it as an issue. I watch market depth in one browser tab and execute the Stake trade on another tab. There's a half second delay to click on the browser tabs.

    • Moddy on 31/01/2022 - 21:14

      There is live pricing when viewing individual stocks or on the order pad. They just use chi-x data which is only reported on some trades, so is often different to ASX data.

  • congo on 31/01/2022 - 20:35

    So $30 saving per month?

    • netjock on 31/01/2022 - 23:22

      Only if you trade that much.

      I guess you need to save $1 here and $2 there to put food on the table every month.

  • BigBTrain on 01/02/2022 - 04:33

    I was referred to use STAKE and made my deposit. However, I did not receive my $10 credit?

    • Moddy on 01/02/2022 - 07:16

      That's for the person that referred you.

      • BigBTrain on 01/02/2022 - 07:19

        1 dollar off brokerage - the referrer

        $10 dollar bonus - the referree

        As a noun referrer is a person who refers another.

        As a verb referee is.

        • Moddy on 01/02/2022 - 07:42

          Apologies, I misread.

          Being that it takes up to a week to add the referral trade discounts at the moment, I'm guessing the $10 process only gets run a few times a week as well.

          • BigBTrain on 01/02/2022 - 07:55

            @Moddy: I see. Makes sense that the runs may be to a few times a week. I was worried I had been missed.

            • macr0hard on 04/02/2022 - 11:39

              @BigBTrain: You need to claim it from within the app. If you qualify the $10 is added straight into your wallet. I signed up, funded and claimed today all within 1 hour

  • nanick on 01/02/2022 - 08:21

    Heads up: they have now changed their T&C's to require a minimum deposit of $50 to be eligible for the $10 bonus.

    • BigBTrain on 04/02/2022 - 11:41
      -1

      This is (profanity) sneaky of Stake tbh - there was no mention that there was a minimum deposit when new users were within the first 24 hours.

    • dajackal on 13/12/2022 - 22:22

      Are you able to withdraw the $50 after the bonus is paid out?

      • Reveen on 14/12/2022 - 08:53
        +1

        Yes.

  • dvz on 12/02/2022 - 16:24

    how come my comment with my referral link got deleted but other ppl can post theirs??

  • tanastra on 08/03/2022 - 13:21
    +1

    Just be careful with stake withdrawal issue . Still unable to withdraw money back due to emailed. pin verification issues that is ongoing.

  • dajackal on 14/12/2022 - 10:44

    Do I need to call up CBA to authorise the $50 bank transfer to make sure it gets there within 24 hours?

  • Luigimarinara on 03/06/2023 - 12:50

    Lost all my bonus with their crazy FX fees - should have just redrew it. Moved to Superhero

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