Stake drops minimum funding to $50, giving every Australian direct access to $31 trillion US share market
Australia’s fastest growing stock broker Stake has today made it even easier for Aussies to invest directly in the $31 trillion US share market, lowering its minimum investment amount from $500 to $50. The lower entry point gives even more Aussies direct access to more than 3,000 game-changing companies and shares listed in the US, including Apple, Tesla, Google, Disney, and Amazon.
The move to lower its minimum investment to AU$50 is part of Stake’s dedication to remove barriers to global trading, adding to the work it’s already done offering $0 brokerage, fractional investments, and same day money transfers. The announcement follows the launch of Stake’s iOS app on 4 July, which has already been downloaded more than 3,000 times.
To celebrate the new $50 minimum, Stake will be running a special 24-hour promotion on 8 August to show Aussies just how easy it is to invest. Those who fund their Stake account between 00:01 and 23:59 on 8 August will receive $25. When users refer a friend who signs up and funds on 8 August, both will receive $25.
This lower investment requirement is likely to be welcomed by millennial investors, with recent data from Stake showing that of the 18-35 year olds using the platform, 75 per cent are investing in overseas shares for the first time and 44 per cent are doing so because Australian property is too expensive.
“Lowering the minimum to $50 is a part of Stake’s mission to democratise access to financial markets and give all Aussies the opportunity to take control of their finances,” Stake CEO and co-founder Matt Leibowitz said.
“Stake’s focus will always be on breaking down barriers to access global financial markets – we’re here to open up opportunity for people who don’t want to settle for the ASX, by giving them direct access to the world and total control over how they invest their money. The lowered minimum is the next step in fulfilling this.”
“Some micro-investing and new millennial-focused platforms claim to help Aussies make smarter investments, but none provide the autonomy, control, and choice that Stake does. Our platform truly puts the power into the hands of the customer. Australians no longer have to settle for overpriced managed funds or ASX-Listed ETFs. With Stake, the power is well and truly in their hands.”
“Every month I use a credit card for all my purchases and at the end of the month, after paying off my credit card bill, I invest the rest of the money left over in my bank account using Stake. I absolutely love the idea of compounding interest and dividends — allowing my money to breed more money while I sleep cosy at night. At the age of 21, I’m now starting to slowly build my nest egg for retirement using Stake,” Stake customer Andy said.
“For a platform that was still relatively new, I was surprised by how many well-known ETFs and shares were already available on the site for purchase. Coupled with the no brokerage fees — I was sold. There is absolutely no other platform that comes close in Australia. Furthermore, the fact that I could buy ‘fractional shares’ just as long as the order is $10 or over without any commission fees is an absolute game-changer. Name me one other brokerage that allows you to do that. I’ll be waiting.”
Since launching in August 2017, more than $100 million (US$75 million) has been transacted on Stake, with more than 47,000 trades and 14,000 users taking advantage of low-cost, simple, and direct access to the US market.
The Stake trading platform is available as a free app on the App Store (launching on Google Play soon) and on desktop.
