Trading platforms come and go, but one platform that is here to stay is Stake. Ever since it has launched, it has created quite a buzz and we are here to review what it is all about.
Thinking about trying it out Stake? You can do so by clicking HERE and getting a free stock from GoPro, Dropbox or Nike.
What is Stake?
It is an Australian based company that is privately owned. They have come up with this trading app so that you can use it to trade US stocks. However, the varieties of options you have are magnanimous. It provides its users access to over 3500 US stocks and exchange-traded funds (ETFs) all with zero commission on unlimited trades. This is exactly what makes Stake so market-competitive.
Here are some useful features of this app:
Access to stocks from the biggest names
New Zealanders will now get to invest money in major companies that are making a profit every year. Don’t believe us? Here is a list of a few brands you will have access to through Stake:
- Tesla
- Amazon
- Apple
These are just some of the biggest names. However, Stake will provide you with many options that are just as good.
Simple and easy-to-use design
Anyone can easily navigate their site and they have made investing look easier than ever! With the clean, sleek, and easy-to-use design you will have no problem navigating the app and you can start trading within a few minutes of downloading the app!
Comprehensive Data
Of course, before investing your money you will need data to guide your decision and so Stake provides their users with such analysis as well. In the market overview section, you can look at different stocks from various companies and read the data provided with it.
If you are fairly new to it you might want to familiarise yourself with how it works so you can understand the market data and analysis.
Fractional investing
This is by the far the most flexible feature of the app. This means that you don’t have to buy individual, instead, you can invest in minimal dollar amount as well. Of course, the minimum limit here is $10.
If you still don’t understand then allow us to explain. Let’s say one share of Tesla goes for $1000. However, you can choose to invest $100. On the other hand, if you invest $1500, then that means you would own one and a half (1.5) shares.
Pros of Stake
- No trading fee
- Search for stock options by industry, region, sector, etc
- Lets you trade on unsettled funds as well
- The forex rate that is offered is the spot rate
- You don’t need to pay a monthly fee for standard trading features
- No brokerage fee
- User—friendly
- Opportunities for day traders as well
Cons of Stake
- Only offers US stocks and no other foreign market
- Offers premium accounts with monthly fees
- Joint accounts are not offered
- Data might be too technical for newbies
Final Words
Stake has taken the investment game to the next level with such an app. It is way ahead of its competitors and probably the best among them out there right now. If you want to invest in US stocks from New Zealand then this is your best bet. Stake has a service like no other.
If you are new to Stake or thinking about trying it out, you can do so by clicking HERE and getting a free stock from GoPro, Dropbox or Nike.
Our rating: 4.5/5