• long running

Foreign Exchange Transfer Fee 55bps (Was 70bps) @ Stake

100
Foreign Exchange Transfer Fee 55bps (Was 70bps) @ Stake
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stevenmo on 29/01/2025 - 11:11 hellostake.com (61 clicks)
Last edited 29/01/2025 - 12:36 by 1 other user

Just a post to update you guys

IBKR is still the lowest for FX conversion fees at 0.20 bps

  • below is copy paste from the email I got

Lower FX transfer fees: Based on your feedback, we're slashing our FX transfer fee from 70bps to 55bps. That means more money in your account and less going towards fees.

Updated FX rate: The exchange rate you receive will now be our wholesale conversion rate directly from our FX provider which includes their spread, in accordance with our existing terms and conditions. On weekends and public holidays, the spread may be adjusted to account for market fluctuations. You'll always see this exchange rate clearly before you transfer any money.

CAT fees on us: The U.S. Securities and Exchange Commission (SEC) has introduced a new regulatory fee called the Consolidated Audit Trail (CAT). Unlike some other platforms that pass this cost on to their customers, Stake will cover this fee for you on all buy/sell orders.

Referral Links

Referral: random (1027)

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

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Comments

  • wouldntpaythat on 29/01/2025 - 11:26
    +2

    where's the bargain?

    • Kevin0 on 29/01/2025 - 11:58
      +4

      Oh really Thought stake was a relatively decent broker? Did they do somthing or is there like an article you read? Seen any better options?

      • thecloudking on 29/01/2025 - 12:02
        +8

        Stake are a great broker. Relatively low fees, access to ASX and Wall Street, CHESS sponsored.

        • zkreap on 29/01/2025 - 16:20
          -2

          This is the reason all the main aus based brokers are so shit, complacency.
          This 'great broker' you speak of charges $14 a month for the bare minimum:
          Market depth and Course of sales

          moomoo (dogshit name) and webull are setting a better standard

          • interlocal on 29/01/2025 - 18:55

            @zkreap: How's that bare minimum?
            I can buy and sell, that's bare minimum, and that comes without monthly fees

          • thecloudking on 29/01/2025 - 22:42
            -1

            @zkreap: $14 a month? What are you talking about? I pay a flat $3 fee whenever I buy some ETFs.

      • M00Cow on 29/01/2025 - 12:22
        -1

        sponsored by Comsec maybe?

      • TheFreaK on 29/01/2025 - 13:52
        +3

        They're a great broker, highly recommend

    • Bonbi on 29/01/2025 - 12:04
      +8

      stake is nothing like robinhood

      • Believ3r on 29/01/2025 - 12:09
        -5

        They shut off retail from buying GameStop mate I was using those crooks at the time

    • mandelbrot on 29/01/2025 - 12:13
      +2

      You've got nfi. Clown

  • Froot Loops on 29/01/2025 - 13:42

    Any decent alternatives to stake (I am using this now)? Getting over their high fees and lack of options (puts). TIA

    • TheFreaK on 29/01/2025 - 13:52
      +2

      If you think their fees are high you're not going to have luck searching for alternatives

    • lovebargain87 on 29/01/2025 - 14:16
      +1

      Superhero is one of my main ones along with IG and Stake

      • Froot Loops on 29/01/2025 - 15:47

        Thanks

      • orido on 29/01/2025 - 16:01
        +2

        With Superhero its $2 fees. However it's a custodian accouunt meaning they hold the shares in your name. As opposed to Stake, you get your own HIN and the shares are actually in your name.
        If Superhero go belly up, the shares arent actually yours and you could potentially lose them.

  • GimmeCashback on 29/01/2025 - 14:29
    +2

    If you are purchasing US shares, you should look at Interactive Brokers, significantly cheaper for fx costs.

  • zkreap on 29/01/2025 - 16:25
    +1

    People should stick to IBKR for overseas shares

    With the new Automatic Currency Conversion feature theres no minimum $2USD fx fee, just a flat 0.03% fx fee.
    Their comssion is also far cheaper than $3USD
    makes it a no brainer

  • jwsc on 30/01/2025 - 08:54

    im still pissed they started charging fees for wall street trades, now I got some tiny fractionals that aren't worth enough move
    lured me in with the free trades tsk

  • josem on 30/01/2025 - 09:17

    Can I ask a question for those buying U.S. shares (for example Microsoft) through local brokers. How do you receive the U.S. dividends ? Does the broker (for example Interactive brokers) send your Australian banking details to the U.S. company and they deposit your dividends into your bank automatically ?

    • danwylie on 30/01/2025 - 16:43

      Can't speak to stake, but on selfwealth dividends are paid into the US trading account

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