Comprehensive analysis of Stake as an investment platform for Australian retail investors — fees, features, tax implications, and how Stake compares against leading alternatives for US market access.
Our expert reviewers have tested and ranked the top five investment platforms offering Stake-style access to Australian investors in 2026.
When it comes to building a globally diversified portfolio, Australian investors are increasingly turning to platforms that offer direct access to international markets. Stake has emerged as one of the most talked-about investment apps in Australia, giving everyday investors the ability to buy and sell US-listed stocks and ETFs without the traditional barriers of high brokerage fees and complex account setups. Whether you are a seasoned investor or just beginning your journey into share markets, understanding what Stake offers — and where it falls short — is essential before committing your hard-earned money.
Founded in Australia and launched in 2017, Stake was built specifically with retail investors in mind. It disrupted the traditional brokerage model by removing commission fees on trades, which was a radical concept at the time. Since then, it has attracted hundreds of thousands of users across the Australian market who want exposure to companies like Apple, Tesla, Amazon, and Google without going through complicated international brokerage accounts. But is it truly the right fit for your specific financial goals and portfolio strategy? This report breaks it down thoroughly so you know everything you need before you start, including how it compares to alternatives for self-managed super fund investors and those holding LICs in their portfolio.
Key features available through the Stake platform for Australian account holders in 2026.
Buy portions of expensive stocks like Amazon or Alphabet for as little as $10 AUD through Stake, making high-priced shares accessible to investors with smaller capital bases.
Set up automated weekly or monthly purchases within Stake to dollar-cost average into your favourite stocks or ETFs without manual effort each period.
Stake supports market orders, limit orders, and stop orders to give you more control over your entry and exit pricing on every trade you place.
Receive notifications from Stake when a stock reaches your target price, helping you stay informed without constantly monitoring the market throughout the trading day.
Access price history, market capitalisation, earnings per share, and other fundamental metrics within the Stake app to inform your investment decisions.
Dividends paid by US companies are automatically deposited into your Stake cash balance, which you can then choose to reinvest manually into additional positions.
Getting started with Stake is remarkably straightforward. Australians can sign up online using the platform URL, complete identity verification using their Australian driver's licence or passport, and fund their account via bank transfer. The platform converts Australian dollars to US dollars at the time of deposit, which is important to understand from a currency exposure perspective.
Once funded, users gain access to the full suite of US-listed securities available through Stake. This includes individual stocks listed on the NYSE and NASDAQ, exchange-traded funds (ETFs), real estate investment trusts (REITs), and American Depositary Receipts (ADRs). Some OTC-listed securities are also accessible, broadening the range of investment opportunities available to Australian users. The app interface is clean and designed without unnecessary clutter, making it well-suited for mobile trading. Desktop access is also available through the web browser version, and the platform URL is easy to access across devices.
Key features available to Australian Stake account holders include:
Stake operates under a freemium model. The basic account tier is free, with zero brokerage on trades. However, there is a currency conversion fee of approximately 0.7% when depositing AUD (which gets converted to USD) and again when you withdraw. A premium subscription called Black is available for a monthly fee and includes perks like priority customer support, lower FX fees, and access to extended analyst research reports.
One of the most compelling aspects of Stake for Australians is its pricing model. Traditional brokers offering US market access — such as CommSec International or nabtrade — often charge flat fees of $19.95 to $59.95 AUD per trade. By contrast, Stake charges zero brokerage commissions on all trades, which can lead to significant savings for active traders or those making frequent small purchases. Understanding everything about how pricing works above and beyond headline numbers is critical for making an informed decision, and reviewing the latest report on platform fees before depositing is always worthwhile.
However, Stake is not entirely free. The main costs to be aware of include:
The currency consideration is arguably the most significant factor for Australian investors to understand. When you deposit AUD into Stake, it gets converted to USD. Your investment then grows or shrinks not only based on the performance of the US stocks you hold, but also based on movements in the AUD/USD exchange rate. If the Australian dollar strengthens against the US dollar, your returns in AUD terms will be reduced even if your stocks have performed well. Conversely, a weakening AUD can enhance returns above your base expectations.
This currency risk is inherent to any investment in international markets and is not unique to Stake. Australian investors who want to hedge currency risk would need to do so through separate financial instruments, as the platform does not currently offer built-in hedging tools. Always review the current fee and policy documentation on the platform URL before depositing funds, as pricing structures can be updated periodically.
How Stake stacks up against major platforms used by Australian investors for US market access in 2026.
| Platform | Brokerage Fee (US Stocks) | FX Fee | Fractional Shares | ASX Access |
|---|---|---|---|---|
| Stake | $0 | 0.7% (0.5% with Black) | ✔ Yes | ✔ Yes (via AX product) |
| Interactive Brokers | USD $0.005/share | Low | ✔ Yes | ✔ Yes |
| Pearler | $6.50 AUD flat | 0.5% | ✗ No | ✔ Yes |
| CommSec | $19.95–$29.95 AUD | Market rate | ✗ No | ✔ Yes |
| Feature | Stake Free | Stake Black |
|---|---|---|
| Brokerage Commission | $0 | $0 |
| FX Conversion Fee | 0.7% | 0.5% |
| Monthly Cost | $0 | $9 AUD/month |
| Priority Support | ✗ No | ✔ Yes |
| Extended Analyst Reports | ✗ No | ✔ Yes |
| Fractional Shares | ✔ Yes | ✔ Yes |
A major consideration for any investor evaluating a brokerage platform is the range of asset classes on offer. Stake provides access to a wide variety of US-listed securities, giving Australian-based investors more diversification options than many people realise. Beyond well-known blue-chip stocks and index ETFs, the platform is an extended opportunity for investors who want exposure to hybrid asset structures and closed-end funds including Listed Investment Companies (LICs) that trade on US exchanges.
LICs represent an interesting opportunity for investors familiar with the Australian market, where LICs have long been a popular vehicle for managed equity exposure. US-listed equivalents and closed-end fund structures accessible through Stake can serve a similar purpose — providing a single-ticker entry point into a diversified, professionally managed portfolio. For a shareholder or unit holder seeking income and diversification in one instrument, these can be a compelling addition to a broader portfolio report.
Beyond LICs and equities, investors can access REITs (Real Estate Investment Trusts) listed on US exchanges through Stake. REITs are an excellent way to gain exposure to commercial real estate, residential properties, industrial facilities, and even data centre infrastructure through publicly traded vehicles — without the complexity of direct property ownership. For investors who want real estate in their portfolio without the capital intensity of buying physical property, US-listed REITs represent an extended opportunity within the platform's offering.
Hybrid securities and bond ETFs are also accessible, allowing investors to add fixed income and blended exposure to their portfolios. While Stake does not offer direct bond purchasing, bond ETFs such as those tracking US Treasury securities or corporate bonds provide a practical workaround for investors seeking income-generating assets beyond dividend-paying equities. Some OTC securities are available too, though investors should review the current platform URL and listings before assuming any specific security is accessible.
Use these tools to calculate your FX costs on Stake, estimate investment growth, and claim your daily rewards streak.
To properly evaluate whether Stake is the right platform for your portfolio, it helps to see how it stacks up against alternatives. The comparison table above covers the most relevant metrics for everyday retail investors building wealth outside of super. When you compare the fee structures, Stake's zero-commission model clearly stands out for investors who want to make frequent trades or build a diversified US stock portfolio incrementally.
The FX fee is the main cost consideration for Stake users, but for long-term buy-and-hold investors depositing once or twice a year, it becomes relatively minimal as a percentage of total portfolio value. For super fund investors using a self-managed super fund (SMSF) to invest internationally, the cost efficiency of Stake compared to traditional brokers can represent a meaningful long-term advantage, though SMSF compliance requirements should always be reviewed with a qualified adviser before acting.
If you deposit more than approximately $9,000 AUD per year through Stake, the FX fee savings from upgrading to the Black premium tier (0.7% vs 0.5%) will more than offset the $90 annual subscription cost. Run the numbers based on your expected annual deposit volume using our calculator above before deciding. The Black tier also provides access to extended analyst reports that can meaningfully improve your investment decision-making on the Stake platform.
Australian tax law requires residents to declare all income and capital gains from investments, regardless of where those investments are held. Investing through Stake is no exception, and there are several tax considerations specific to holding US stocks as an Australian resident. This section serves as an introductory report — not professional tax advice — and investors should seek qualified guidance tailored to their circumstances.
Capital Gains Tax (CGT): When you sell shares through Stake for a profit, you will be subject to CGT in Australia. If you hold the shares for more than 12 months before selling, you are eligible for the 50% CGT discount, meaning only half of your capital gain is added to your taxable income for that year. Currency gains or losses above your original AUD cost base may also factor into your CGT calculation. This is an extended consideration that many first-time international investors using Stake overlook.
Dividend withholding tax: US companies withhold 15% tax on dividends paid to Australian residents, in accordance with the Australia-United States tax treaty. This means you will only receive 85% of declared dividends in your Stake account. However, you can claim the withheld amount as a foreign tax credit on your Australian tax return, avoiding double taxation.
W-8BEN form: When setting up your Stake account, you will be asked to complete a W-8BEN form, which certifies your status as a non-US resident. This is what ensures you are taxed at the reduced 15% treaty rate rather than the standard 30% US withholding rate.
Super fund considerations: If you are investing through a self-managed super fund (SMSF), the tax treatment differs from personal investing. Super fund earnings in accumulation phase are taxed at a maximum of 15%, while earnings in pension phase may be tax-free. Holding Stake investments within an SMSF structure requires careful documentation and compliance with ATO reporting obligations.
Record keeping: Stake provides annual tax statements that summarise your trades, dividends received, and FX conversion rates. These documents are essential for completing your Australian tax return accurately. It is advisable to also maintain your own records and consult with a tax professional familiar with international investments. For LIC holders and REIT investors using the Stake platform, the tax treatment of distributions may differ from standard dividend income, so reviewing a detailed tax report with your accountant is worthwhile.
A common concern for Australian investors considering any online investment platform is the level of security and regulatory oversight. Understanding these protections helps you make an informed decision about where to trust your money, and the opportunity to verify this information independently through official channels is an important step before committing capital.
The Australian entity of Stake is regulated by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services Licence (AFSL). This licensing requirement means the platform must meet strict standards around financial advice, client money handling, and dispute resolution. ASIC regulation provides a meaningful level of consumer protection that is absent with offshore or unregulated platforms. You can verify the AFSL details directly through the ASIC Connect register at the official ASIC URL.
Your US securities held through Stake are custodied via DriveWealth, a US-based broker-dealer that is a member of the Securities Investor Protection Corporation (SIPC). SIPC protection covers up to USD $500,000 of securities and up to USD $250,000 in cash in the event that the broker fails. It is important to understand that SIPC protection does not cover investment losses from market movements — it only protects against the failure of the brokerage firm itself. Each account holder benefits from this protection individually.
In terms of cyber security, Stake uses bank-grade 256-bit SSL encryption for data transmission and stores sensitive personal data in compliance with Australian privacy law. Two-factor authentication (2FA) is available and strongly recommended for all users. The platform's privacy policy outlines clearly what data is collected and how it is managed — reviewing this policy documentation before creating your Stake account is a sensible step.
As with any investment platform, your invested funds through Stake are not covered by the Australian Government's Financial Claims Scheme (FCS), which protects bank deposits up to $250,000. Shares held in a brokerage account — whether through Stake or any other broker — do not fall under FCS protection. Understanding this distinction is important for every account holder managing their risk exposure.
If you have decided Stake is a good match for your investing goals, here are some practical strategies to maximise the value you get from your account and make everything work as efficiently as possible. These tips are particularly relevant for Australian investors building wealth outside of super, though SMSF investors using the platform may find some strategies applicable to their structure as well.
Minimise FX conversion frequency: Since the FX fee applies every time you convert AUD to USD on deposit and USD to AUD on withdrawal through Stake, depositing larger, less frequent amounts will reduce the total FX costs over time. Depositing $2,000 once a quarter incurs fewer conversion fees than depositing $500 each week and keeps more of your money invested above the break-even threshold.
Use limit orders strategically: Rather than always placing market orders that execute immediately at the prevailing price, consider using limit orders within Stake to target specific entry prices on stocks and ETFs. This is particularly useful in volatile markets where prices can move significantly during the trading session, and represents an extended level of control beyond basic buy-and-hold execution.
Explore LICs and hybrid instruments: Many Australian investors using Stake focus exclusively on growth stocks, but incorporating LICs, hybrid securities, and bond ETFs into your portfolio can smooth out volatility and provide regular income. For each account holder building a diversified portfolio through Stake, these instruments represent an opportunity to access managed diversification within a single ticker, reducing portfolio clutter from holding dozens of individual positions.
Reduce portfolio clutter through ETF consolidation: If your Stake portfolio has grown organically through many individual stock positions, it can become unwieldy and difficult to manage. Periodically reviewing your holdings and consolidating into broader ETFs where appropriate can reduce clutter and make rebalancing more efficient. This is especially relevant for investors who have built up extended position lists through fractional share purchases across many different stocks on Stake.
Consider upgrading to Black membership: If you deposit more than approximately $9,000 AUD per year through Stake, the FX fee savings from the premium tier (0.7% vs 0.5%) will more than offset the $90 annual subscription cost. Run the numbers based on your expected annual deposit volume before deciding, and review the current pricing information at the platform URL to confirm the latest membership rates. The Black tier also provides access to extended analyst reports that can improve your investment decision-making process on Stake.
Keep detailed records from day one: Download and save your transaction history and tax statements from Stake regularly. Accurate records make tax time significantly easier and ensure you are claiming all available foreign tax credits for withholding taxes paid on dividends. This is particularly important for LIC distributions and REIT income, where the tax treatment may differ from standard dividends and requires a more detailed annual report for your accountant.
Supplement with independent research: While Stake provides basic fundamental data, serious investors should go above and beyond the in-app tools by using dedicated research platforms, earnings reports, SEC filings, and quality financial news sources. Extended due diligence is especially important when evaluating OTC securities or ADRs, where disclosure standards may be lower and the opportunity for misinformation is greater. Check the sponsorship status of any OTC-listed ADR at the relevant regulatory URL before investing through Stake.
Ultimately, deciding whether Stake belongs in your financial toolkit depends on your specific goals, trading behaviour, tax situation, and comfort with currency risk. For the majority of Australian retail investors who want simple, low-cost access to US markets — including equities, LICs, REITs, hybrid securities, and bond ETFs — Stake remains one of the most compelling opportunities available in the Australian market today.
No single platform should be viewed as a complete investment solution. Combining US market access through Stake with ASX exposure via a complementary broker, a thorough understanding of tax policy and obligations — including super fund implications where relevant — and a long-term investment philosophy will put you in the best position to build real, lasting wealth. Always review the platform URL, pricing documentation, and privacy policy before committing funds, and consider seeking independent financial advice tailored to your personal circumstances.
If you are ready to explore what Stake has on offer and potentially take advantage of current new user promotions, you can sign up here and begin your US investing journey through Stake today.