Australia-based digital brokerage platform Stake announced this week it has officially launched its UK beta operations. Founded in 2017, Stake claims it democratizes global share markets to bring the “world’s largest and most dynamic” market to the rest of the world.
“We believe brokerage is still broken. Big brokerages and banks still overcharge and underservice like they always have. The flurry of new-age platforms claim simplification and zero-cost but are often riddled with hidden fees, have conflicts of interest with their customers, or both. We don’t settle for that.”
Stake stated that it is also laser-focused on providing direct and sophisticated access to the world’s biggest and most dynamic market that’s simple and intuitive. The platform reported that more than 55,000 customers in Australia get from Stake. 77% had traded domestically but 86% had never traded in the U.S. before Stake.
“We stand for transparency and clarity. Three Brokerage Packs allow you to choose the level of sophistication that’s right for you. Our free pack will always be free while pricing on our premium packs are all-in and flat. You know exactly what you pay and exactly what you get. No surprises later. We stand for better brokerage. With Stake, you can directly trade US Stocks and ETFs (yep, ETFs too – we made sure of that), get unlimited commission-free trades, access advanced order types, have your trades executed in real-time, trade on unsettled funds and much more.”
In regards to the launch in the UK, Stake added:
“We’re pumped to have landed in the UK and want you to join our journey. Getting started with Stake is easy. Digital account creation and verification takes just minutes. Funding is simple. We even automate your US Tax Form to save you the hassle of the paperwork while still getting the withholding tax benefit and compliance taken care of.