STAKE Investing App + FREE SHARE
Yes, that’s right. Another investing app called Stake.
Stake investing app is a little different to the two main players in the UK right now Trading 212 and Freetrade.
When I say main players I mean zero-fee trading main players.
It seems we are getting new competitors on an almost weekly basis. Always stirring up the game. That is no bad thing if you ask me, more competition only brings more features as the different brokers fight for control of our money.
Sign up now via your App Store and use signup code SEANC745 to get a FREE stock. You need to deposit with 24 hours!
You will get either Nike, Dropbox or GoPro.
I got GoPro, hopefully you get Nike.
Your money is safe with Stake up to a massive $500,000 should the worst happen.
They are regulated by the FCA so you should not have any concerns in this regard.
Stake stands out from the crowd in a couple of key ways.
They aim to give access to the US markets as directly as possible.
What Makes STAKE Different?
Stake investing app has a couple of major differences. Firstly they specialise in US stocks only.
It is almost as if we are residing in the states when we invest with Stake.
With the Stake investing app we have access to over 3,800 US-based stocks and ETF’s!
This is a massive number and far more than the competition currently. Although both Trading 212 and Freetrade are adding large numbers of stocks on a regular basis.
They may catch up to Stake but not for now at least.
Another major difference with Stake is that they do not charge FX fees on trades. However, they do charge on transfers.
This can obviously work in our favour if you happen to keep on eye on foreign exchange rates. Notably the GBP/USD in our case.
Transfering money only the when pound is strong against the dollar and only withdrawing any cash the same way.
Once a transfer is made in the Stake app and a purchase is made your balance and buying power is actually shown in dollars as opposed to your local currency.
Only if you sold out of a position and transferred the cash into your bank would you be charged an FX conversion of just 0.5% with a $2 bank processing fee for withdrawals.
Stake does have a $50 minimum transfer fee but that should not put you off at all. Just wait another month or whatever it may be if you had only planned on investing less than this.
Stake App and Fractional Shares
The app itself, and it is an app-only with no desktop web browser currently available is very nice.
It’s modern-looking and responsive. Fractional shares are also available with Stake making it easier to get in on the action with stocks that have very high prices. Eg. Amazon.
The App allows you to see how the markets as a whole are doing at a glance. A Watchlist is also available should you wish to keep a close eye on certain stocks.
Personally, I would like to see a web interface to really dive into it on a large screen. We can only hope this on the horizon.
Sign up now via your App Store and use signup code SEANC745 to get a FREE stock. You need to deposit with 24 hours!
STAKE ETF $30,000 Minimum
A downside of Stake would be on the ETF side of things. This is not a downside of Stake in particular but of EU law.
With Stake, because you are directly accessing the US stock market then by European law only accredited investors with a portfolio of $30,000 are allowed to by into US ETFs.
What? I hear you say. I already own US ETFs in my Trading 212 account.
True but look a little closer. You will notice that the likes of Vanguard S&P500 ETF ticker VUSA. Are not actually traded in the US but in Ireland.
Most of the US ETFs that we trade in the UK are actually domiciled in Ireland.
This is down to local tax and other beneficial reasons that will go over most of our heads (me included). I bet most of you did not even spot this.
This is a bonus to us really as we can trade US ETFs during UK market hours.
However, it does mean that STAKE ETFs will be off-limits to most of us, for now at least! Bring on $30,000.
Sign up now via your App Store and use signup code SEANC745 to get a FREE stock. You need to deposit with 24 hours!
STAKE Black
Another way Stake makes money aside from the FX fee and interest on cash sitting in your account is through a service known as Stake Black.
Currently Stake Black is free until January 2021 – so not long.
Stake Black is $9 a month normally.
Here are the advanced features investors will gain when subscribing to Stake Black,
- Instant Buying Power
- Pro-Level Data
- Superior Enhancements
- Analyst Ratings
- Price Targets
So, as you can see Stake Black’s biggest selling point is the Analyst Ratings and Pro-level data combined with Price Targets.
Having a full breakdown of each company’s financial data along with experts opinions from Wall Street to help you make your investing decisions.
A lot of this information is likely available elsewhere for free if you take the time.
Having it all contained in the app is very nice though.
Price targets, as you may have guessed what the experts put the value of a stock at. Helping you decide if a stock is over or undervalued.
It will display a percentage along with whether they think its a buy, hold or sell.
Latest news articles are also to be found here. It is very nice. Would I continue paying $9 a month when it stops being free?
No, not yet. Maybe once my portfolio gets a little bigger I will look into some premium services such as Stake Black.
Sign up now via your App Store and use signup code SEANC745 to get a FREE stock. You need to deposit with 24 hours!
Other Free Shares and Offers
Do not miss out on the other free shares available and any other offers I have.
Just head over to my FREE SHARES page for all the latest offers.
Having multiple brokers is a wise move in case you can not access one temporarily and you need to swoop in with a buy.
At the very least they offer you a backup and FREE SHARE.
Need a way to track your investments and dividend income? Check out my Dividend Tracking Spreadsheet.
As always,
Thanks,
Sean C
