Invest · Broker review

Stake

Simple, commission-free US stocks for Australian and New Zealand investors

Reviewed by Aayush Jain·Updated May 2026

Visit Stake Compare all brokers

Overall score

6.5/10

FX rank#16 of 20

FX cost / $10k$70

Conversion spread0.7%

Trading commissionFree

Annual feeNone

Min investmentNone

$60 more per $10,000 than Interactive Brokers (FX cost only)

Not financial advice.This is a comparison of FX costs only. We don't recommend specific investments. Always consult a qualified financial adviser before investing.

Verdict

Stake is a popular entry point for Australian investors new to US stocks. Its interface is clean and beginner-friendly. However, Stake charges a $3 flat fee plus 0.7% FX spread — significantly more than IBKR's 0.1%. For regular investors with meaningful amounts, IBKR's lower FX cost justifies the steeper learning curve.

FX cost breakdown

Conversion spread

0.7%

Above mid-market rate

Fixed FX fee

Per currency conversion

Total FX cost / $10k

$70

Realistic all-in estimate

FX cost comparison on $10,000 investment

Interactive Brokers$10

Trading 212$15

Tiger Brokers$20

moomoo$25

Pros & cons

Pros

Clean, beginner-friendly mobile app
No commission on US stock trades
Fractional shares from $1
ASIC-regulated
Australian Stock Exchange (ASX) access also available

Cons

FX cost of $3 + 0.7% is high compared to IBKR
On $10,000 invested, FX cost ≈ A$103 vs IBKR's ≈ A$14
No options or futures trading
Limited research tools

Who can use it

AustraliaGlobal

Markets available

USAustralia

Supported corridors

AUD→USDNZD→USDGBP→USD

Regulated by

Australia

ASIC

New Zealand

FMA

Frequently asked questions

Is Stake or IBKR better for Australian investors?

Stake wins on ease of use and simplicity; IBKR wins on FX cost. For amounts below $5,000 and investors prioritising simplicity, Stake is reasonable. Above $10,000 with regular contributions, IBKR's FX savings ($50–80 per $10,000) compound significantly. Many Australian investors start with Stake and move to IBKR as their portfolio grows.