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Stake App is an app-based investment platform specialising in US stocks and shares.
There are many investment brokers available online so choosing the right platform is challenging, especially if you want to invest in US stocks.
Using the wrong broker can be a waste of time and money. Thus, choosing wisely is important. Read this Stake App UK review to find out if Stake is worth using.
🪧 Should you sign up through my affiliate links, I may receive a commission at no cost to you.
Stake App UK Review
Stake App is an Australian investment app available to UK investors. Stake specialises in US stocks and is a solid option for those looking to invest in the US market.
How to Get a Free Share from Stake
Whether you want to actually use Stake to invest or not, the free share offer is worth taking. Stake App offers new investors a random free share from either:
- Nike (worth around £120)
- Dropbox (worth around £20)
- GoPro (worth around £5)
Note that share prices fluctuate and may be different when you are reading this Stake App review.
To get your free share click the button to sign up to Stake app:
How to Get Your Free Share
1. Click the button to get to the Stake website
2. Click “Get Rewards”
2. Register on Stake
3. Make a deposit within 24 hours of signing up (the minimum deposit is £50) (choose bank transfer to minimise fees)
4. Click or tap “Claim Free Stock”
5. Wait one to two days
6. Sell your free stock and withdraw your money
See my free money offers UK list for more opportunities to make quick cash.
What Is Stake App?
Stake (Hellostake) is an investment platform for investing in US and Australian stocks.
Note that it is not related to the online casino called Stake which confusingly also uses black and white as its brand colours.
Stake was founded in Australia in 2017 by Matt Leibowitz. Its goal is to “provide a seamless and immersive experience that breaks barriers for ambitious investors”.
Is Stake App Legit?
Stake is legit and not a scam. It is also known as Stake App or Hellostake but the company is actually registered as Stakeshop Pty Ltd in Australia.
In the UK, their entry with the Financial Conduct Authority (FCA) is under Hellostake Ltd.
Wile Stake is a legit app, this does not mean that it is also popular. On Trustpilot, Stake App has an average score of 2.1 out of 5.0.
Overall, fewer than half of the reviewers rated Stake as great or excellent (47%). Negative reviews cite high fees and slow performance as the main reasons for their low scores.
Is Stake App Safe?
Stake App is safe to use. Note that this does not mean that you cannot lose money on Stake as losing value is the inherent nature of investments.
As soon as your invest, your capital is always at risk.
Nevertheless, Stake is protected by the Financial Services Compensation Scheme (FSCS).
This means that if Stake becomes bankrupt, the government guarantees that you will get up to £85,000 of your money back. Note that this does not cover investment losses.
Stake also does not actually keep hold of your money. When you deposit, your funds are transferred to DriveWealth, LLC.
DriveWealth is a US broker-dealer and is a member of the Securities Investor Protection Corporation (SIPC). SIPC protects customer funds of up to $500,000.
Stake App Account Types and Stocks
As Stake is an Australian app for US stocks, it does not offer any UK tax-advantaged accounts such as individual saving accounts (ISAs).
You can only use a general investment account (GIA) on Stake.
However, Stake does have a huge range of stocks available. There are over 6000 US stocks and exchange-traded funds (ETFs) available to buy.
On Stake App, you can also buy over 200 American Depository Receipts (ADRs) of global companies that trade in the US.
Stake App Fees
There are no fees for opening a Stake account. Instead, Stake users pay the following fees:
- Brokerage fee: $3 or 0.01% for trades above $30,000
- Currency conversion fee: 0.5%
- Withdrawal fee: $2 per withdrawal
- Instant deposit fee (optional): 0.5% per deposit
- Stake Black Wall St (optional): £8.50 per month or £90 per year
On Stake, you can only use US dollars as a currency. Thus, as a UK investor, you will always need to pay the currency conversion fee when you make a deposit.
Stake Black Wall St
Stake Black Wall St is Stake’s premium plan. As with any premium plan, you get extra features in exchange for a monthly fee. Stake Black Wall St costs £8.50 per month or £90 per year.
This means you will save £12 if you choose to pay yearly.
With Stake Black Wall St, you get access to the following extra features:
- Instant buying power (buy and sell shares instantly)
- Buy/sell rating (get access to analyst ratings)
- Full financials (view full company data)
- Price targets (gauge how professionals are pricing stocks)
Is Stake Black Wall St Worth It?
Overall, Stake Black Wall St does not offer a lot of value for the membership fee. Finimize does a better job at analysing stocks and providing company details for a lower fee.
Read my Finimize review for more details. Other investment apps also offer more extras on their premium plans, for example Freetrade.
The only outstanding feature of Stake Black Wall St is the instant buying power. This is important if you want to be an active trader.
However, as an active trader, you may prefer a platform with more features such as eToro.
How to Use Stake
To start using Stake, click the button below to create a free account. You will need to undergo the usual verification process that every broker requires.
This means you may be asked to prove your identity and your address.
Once your account is open, you can click or tap “Funds” and then “Add Funds” to make a deposit. The minimum deposit is £50 and you can choose between:
- Debit card (instant)
- Open banking/Truelayer (instant)
- Apple Pay (instant)
- Bank transfer (takes up to 24 hours)
Upon depositing, you should get a notification prompting you to claim your free share.
If you choose to deposit via bank transfer, you will still qualify for the free share as long as you initiate the deposit within the initial 24 hours of opening the account.
From there, you can buy and sell shares by searching under the “Markets” tab.
Pros and Cons of Stake App UK
Stake App Review Pros
- You get access to a huge range of US stocks
- The Stake App is easy to use
- Stake is regulated by the FCA
Stake App Review Cons
- Stake is no longer commission free
- Stake Black Wall St has only a few additional features
- You can only invest in US stocks
Stake App UK Review Summary
Stake is an investment app to invest in US stocks and ETFs. The app is legit and safe to use, although the Trustpilot reviews are largely negative.
Overall, Stake is a solid investment app considering the free plan. Stake Black Wall St, however, offers few additional features and serious traders may want to consider using one of the best investment apps UK.
Whether you want to use Stake or not, it is always worth getting the free share.
Stake is also a solid alternative to Robinhood for UK users.
If you want to read more about Stake, you can find Stake’s terms here.
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