Australia online brokerage startup Stake, which has set itself up as a Robinhood-like democratizer of global markets, has taken a sideways step departing from its pure commission-free offering for retail traders and launched a for-pay premium version called Stake Black.
The company is offering Stake Black for free through to January 2021, but has already indicated that while remaining commission-free Stake Black will charge a fixed fee of $9 per month (discounted to $7.50/month for an annual subscription) for certain premium services.
Stake was founded in 2016 by CEO Matt Leibowitz and COO Dan Silver. The Australia company Stakeshop Pty Ltd is formally an authorised representative of ASIC-licensed Sanlam Private Wealth Pty Ltd. The group also set up UK subsidiary Hellostake Limited, which is regulated by the UK Financial Conduct Authority (FCA). The company has plans to expand beyond Australia into the UK and Europe.
What exactly is Stake Black offering? According to the company’s marketing materials…
Instant Buying Power
Time is money, and money is opportunity. We know how frustrating it can be to wait the US-market-standard T+2 days for sales to settle. So with Stake Black, we built instant buying power, allowing you to immediately reinvest funds from a sale as soon as it’s executed.
It’s one thing having access to Wall St, but it’s another thing to have access to Wall St experts. Get a more informed opinion on a company or stock by assessing how the biggest names in the business value them. Whether it’s Goldmans or Credit Suisse, you can now trade knowing the opinions of those who do it best.
Knowing when to buy in or sell out of a position is never easy, so we added in price targets so you could see how the pro’s are valuing securities. Price targets and timely upgrades and downgrades can assist in your decisions based on collective analyst valuations.
Full Company Financials
Speaking with the Stake community, one thing we always hear was how time-consuming it was to manage so many different resources to analyse different stocks. Now with full company financials, you’re just a click away from the in-depth charts and financial fundamentals that we know are so important.