Digital brokerage app Stake launches in UK
The app is aimed at those who want to trade directly on the US market who still do not have a simple, transparent and substantial platform to do so
Stake, the global digital brokerage app, is launching in the UK this week. It addresses a fundamental problem UK investors currently face: those who want to trade directly on the US market – and access the enormous opportunity it represents – are still not being given a simple, transparent and substantial platform to do so. Despite the numerous and new offerings on the market, brokerage is still broken.
While digital brokerage has become more accessible in recent years thanks to the influx of modern trading platforms, investors are still experiencing the limitations of the services on offer. Many recent offerings promise zero-cost and simplification but come with opaque pricing systems and restricted product options. Traditional brokerage firms and banks, meanwhile, still underservice and overcharge customers. Stake exists to offer something different – acting in the interests of its customers as a number one priority.
For Stake, this means delivering transparent, intuitive and sophisticated direct access to the US stock market, through a tiered offering and no hidden fees ensuring total control and full visibility for the customer. And, while many other brokerage platforms charge FX fees on every trade, Stake only charges a small FX fee when money is converted into USD, as part of its clear and upfront pricing model. These all reflect Stake’s strong brand beliefs of transparency and putting the customer first.
Built and launched in Australia by expert traders, software engineers and designers, and already boasting 50,000+ customers, Stake was developed solely to provide the best way to buy and sell US shares from outside America. Now, Stake opens up the $31 trillion of investment opportunities the US represents to the UK, empowering users to trade and invest directly in more than 3,500 US stocks and ETFs.
Following a successful beta launch in January 2020, Stake will officially launch in the UK on Wednesday 12 February, and will expand across Europe in the coming months, as part of its mission to bring the US market to the rest of the world.
Founder and CEO, Matt Leibowitz said, ‘brokerage is still broken, and we’re here to fix it. The future of brokerage is one in which traders and investors can get fast, simple, and direct access to the US market with no hidden fees, unreasonable practices and limited customer control. Stake strips away these restrictions to deliver brokerage that’s open, honest and better.
Leibowitz said, while the UK offers a lot of opportunity, for investors who want to trade the biggest companies in the world – the likes of Amazon, Google or Tesla – you have to trade in the US. We also know that UK investors want to trade ETFs, and while other brokerages couldn’t offer this, we always put our customers first and fought to ensure these products were accessible for accredited users.
We know the US market better than anyone, and we’re so excited to bring access to the UK while offering the best experience – one that’s totally transparent, with honest and ethical practices, he said.
Making it easier than ever to execute, track and trade individual shares and ETFs, Stake has streamlined the sign-up process by automating all documentation, ensuring users can forget about form filling and processing delays.
Stake offers three tiers of Brokerage Packs to suit customers’ different investing needs: Starter, Unlimited and Black. Starter is free and the others have fixed monthly prices, the paid packs will be free in the UK until 1 July 2020. The average deposit of Stake’s customers is around $6,000USD, but users can trade with a minimum of £100.
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