Stake

Correct to make it worth it you really have to put in $2000 USD at a time.

Even if i put 1000 or 2000 and invest in 1 etf, then I can just use a cheap legacy broker. With this pricing structure stake offers nothing with any additional value.

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No fee if you use Revolut.

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I was interested in trying this out - but comments above about various fees have put me off. I was hoping this would also unlock some AU/NZ stocks - but doesn’t look like it

I had a play around with it earlier. It’s good they show a breakdown of all the fees

Didn’t end up depositing. How long did it take before the funds were usable in the app?

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Withdrawn at midday, will update on arrival

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On their pricing page I can see “starter plan” which has zero monthly fee and unlimited free trades. Can’t find anything which says only 2 trades per month. Am I missing something?

Also looks like this is the only trading app so far which allows you to buy US ETFs here in UK.

Pricing changed last week, they sent out this email on 11th February 2020:

I saw they have US ETFs listed like ARK Innovation ETF - ARKK but don’t think they actually let people in Europe buy a stake in it.

Let me know if you do manage to purchase shares in a US ETF via Stake.

Downloading now.

How do I invest in Drivewealth? That looks like a B2B fintech with a recurring revenue.

When opening an account with Stake you confirm that your details will be shared with DriveWealth and an application for a DriveWealth brokerage account (Limited Purpose Margin Account) will be made.
https://hellostake.com/disclosures-trading-disclaimers/

They use the Truelayer API for money transfers. Neat.

You can’t at the moment as it’s a private company that last raised a Series B in 2018. They are ubiquitous in the investing app space though. Partnerships all over the place.

Yeah, TrueLayer’s Payment API does look good. Reasonably priced as well.

See On building fintechs in 2020 - Andreessen Horowitz. B2B SaaS or APIaaS fintechs can be great investments for VCs. Plaid was bought for $5.3bn by Visa.

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As they say during a gold fintech rush, sell shovels :rocket:

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This is not an Robinhood thread but RH UK have been taking way too long to start offering US shares in the UK. Stake showed up to a race with a copy of a Tesla Model S P100D made of off-the-shelf parts put together in less time than RH with all its millions of funding. They’re not Carroll Shelby’s Cobra team but it goes to show that in 2019-20 the costs of setting up a fintech show are getting lower thanks to all the available solutions out there.

AH are an (early) investor in RH. One of many fintechs bets. They’ll do fine since they took part in an earlier round.

Stake was founded in 2017. https://www.crunchbase.com/organization/stake-2 Raised $3.5mm in August 2019.

RH has been planning to enter Stake’s home country - Oz - for ages too. Does anyone know what happened? https://www.fool.com.au/2019/10/21/is-brokerage-free-investing-coming-to-australia/ Why is RH suddenly so slow, they technically pioneered this stuff.

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It’s in your screenshot. If withdrawn Friday, it should arrive on Monday (1 business day) 9am NY.

The TrueLayer API talks to your bank - via Open Banking I guess. If you use a neobank - Starling, Revolut (!), Monzo - it should be a breeze and TrueLayer says they don’t scrape your login. It’s very very neat, because you don’t have to log into your ancient banking app to do the money transfer. If you’re with Monzo, etc it’s even simpler.

The Aussies did their homework.

And they’re only hiring 1 person in the UK - a general manager or some sort. Note to FT :freetrade: that the job description describes expansion into the EEA.

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Just checked again for a post on the GenuineImpact forum. It turns out they have updated the app since I last checked. Anyway here’s the latest

What is an EU accredited investor?
Is it a mifid classed professional client… because I guess that way you can potentially do it. But there are a few hurdles you have to jump to become a professional client - I don’t actually know them.

Hate to use the “b” word, but potentially brexit will open up UK retail to US ETFs without the high barriers to entry

It’s basically a way of declaring you are not another retail investor. See Stake’s accredited investor page for all the details.

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They have a popular search section which is always moving like an old school ticker tape. Examples: “Triple leveraged”, “Silicon Valley”, “Gold Mining”, “Switzerland”, “High Dividend”. There’s also Most Up and Most Down by stocks, ETFs, sector (eg Financials). Overall, there’re various channels of discovering new stocks. And the news section picks up on headlines and takes you to an external site. The NLP (natural language professing) and search functions are great i.t.o. UX. FT can implement that by revamping “Insights” or something. It increases user stickiness.

Would be interesting to see what’s Stacks’ US stock universe is. Ideally there is a “no fee” broker with access to all public stocks in the US, not just ones with high trading volumes…

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