Stake is a global digital brokerage and was the first online trading platform to offer commission-free US share trading for those living outside the US. It has now launched in the UK.
It claims to offer “unrivalled” access to the US stock market, with an easy-to-use app and a simple fee structure.
How does it work?
Stake lets you trade over 3,500 US stocks and ETFs without having to open a US trading account.
It offers three tiers of account targeted at investors of all experience levels, from beginners to serious traders.
There are no lock-in contracts or commitments, and you’re free to switch between brokerage packs as you like.
You can apply for an account in a couple of minutes, and can then get instant approval via digital verification.
Once your account is set up, you can add funds via credit card and direct debit.
Your money is converted into US dollars when you make a deposit, and your trading is then handled entirely in US dollars. This means you won’t pay FX fees on individual trades.
You’ll get access to real-time market data and the ability to make commission-free trades. You can manage your account via your computer or by using the Stake app.
As Stake offers US stocks, it operates on US market hours, which are 9:30am-4pm ET. You can set buy and sell orders outside of these hours, but the trades will not be executed until the market next pens. Stake will also automatically complete your US tax form.