Itâs $5 + FX Fee ( depends on who use etc ). But right now that would be around ÂŁ1.09 on TransferWise.
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.
No fee if you use Revolut.
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 doesnât look like it
I had a play around with it earlier. Itâs good they show a breakdown of all the fees
Didnât end up depositing. How long did it take before the funds were usable in the app?
On their pricing page I can see âstarter planâ which has zero monthly fee and unlimited free trades. Canât 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 [Request] - ARK Innovation ETF - ARKK - [NON COMPLIANT] but donât 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 canât at the moment as itâs 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, TrueLayerâs 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.
As they say during a gold fintech rush, sell shovels
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. Theyâre not Carroll Shelbyâs 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. Theyâll do fine since they took part in an earlier round.
Stake was founded in 2017. Stake - Crunchbase Company Profile & Funding Raised $3.5mm in August 2019.
RH has been planning to enter Stakeâs 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.
Itâs 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 donât scrape your login. Itâs very very neat, because you donât have to log into your ancient banking app to do the money transfer. If youâre with Monzo, etc itâs even simpler.
The Aussies did their homework.
And theyâre only hiring 1 person in the UK - a general manager or some sort. Note to FT that the job description describes expansion into the EEA.
Just checked again for a post on the GenuineImpact forum. It turns out they have updated the app since I last checked. Anyway hereâs 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 donât actually know them.
Hate to use the âbâ word, but potentially brexit will open up UK retail to US ETFs without the high barriers to entry
Itâs basically a way of declaring you are not another retail investor. See Stakeâs accredited investor page for all the details.
They have a popular search section which is always moving like an old school ticker tape. Examples: âTriple leveragedâ, âSilicon Valleyâ, âGold Miningâ, âSwitzerlandâ, âHigh Dividendâ. Thereâs also Most Up and Most Down by stocks, ETFs, sector (eg Financials). Overall, thereâre 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 âInsightsâ or something. It increases user stickiness.