Stake (Stakeshop Pty Ltd) is an online investing platform launched in 2017 in Sydney, Australia.[1] Stake offers Australian customers brokerage services for U.S. and ASX-listed equities, along with an income fund and SMSF administration. In New Zealand, Stake provides accounts access to Wall Street investments. As of 2022, Stake has over 54,000 accounts.[2]

History

In 2016, Stake was founded by Matt Leibowitz (ex‑Optiver)[3] and Dan Silver in Sydney. The Stake online brokerage platform was launched in August 2017, offering $0 brokerage on Wall St trades.

In January 2021, during the GameStop short squeeze, Stake experienced service outages that resulted in delayed fund transfers and cancelled open market orders.[4][5] Soon after this, DriveWealth, Stake’s broker-dealer for U.S. equities, significantly raised its capital requirements for buying $GME, forcing Stake to halt trading in Gamestop.[6] This drew criticism online, in part due to DriveWealth's payment for order flow practices.[7] Stake denied taking part in PFOF routing in a subsequently deleted blog post.[8]

Later that year, Stake introduced CHESS-sponsored ASX trading.[9] It also began offering Stake Super, a full-service administration solution for Australians looking to invest their own superannuation through a self-managed super fund (SMSF).

See also

References

  1. ↑ "Aussie company Stake lets you trade US shares from your phone – opening up Wall Street for your trading side hustle". Business Insider Australia. 2019-10-17. Archived from the original on October 19, 2019. Retrieved 2022-02-04.
  2. ↑ "Budget broker Stake snares 54,000 ASX traders". Australian Financial Review. 2022-01-06. Retrieved 2022-02-02.
  3. ↑ White, Louis (2018-10-30). "Stake's Founder Threw In A Highly Paid Job To Start An Investment App". GQ. Retrieved 2022-02-04.
  4. ↑ Vickovich, Aleks (January 29, 2021). "Online broker Stake crashes amid Reddit trading frenzy". Australian Financial Review. Retrieved February 2, 2022.
  5. ↑ Kruger, Colin (2021-01-31). "Stake scrambles to fix outage triggered by GameStop trade frenzy". The Sydney Morning Herald. Retrieved 2022-02-02.
  6. ↑ Kruger, Colin (2021-02-02). "Local broker Stake forced to suspend GameStop trading". The Sydney Morning Herald. Retrieved 2022-04-29.
  7. ↑ "DriveWealth Legal". DriveWealth. Retrieved 29 July 2026.
  8. ↑ "Archived: How Zero Works". Stake. Archived from the original on 19 July 2021. Retrieved 29 July 2026.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  9. ↑ Purcell, Kylie (2021-09-15). "Stake launches $3 ASX stock trades – is it the cheapest trading app? | Finder". finder.com.au. Retrieved 2022-02-04.
allikas: https://en.wikipedia.org/wiki/Stake_(platform)