Stake Referral Code 2022 - Get a Free Share Worth up to $150 USD
Tl;dr: Stake is a good brokerage. Solid fundamentals with some room for improvements. Use the referral code 'TOBIASC275' when signing up to get a free share worth up to $150 USD.
Alternatively, click here to create an account and get a free share
If you are looking on info for stake ASX, not the US Markets, click here
What is stake
Stake is a share brokerage with access to the New York Stock Exchange, NYSE and the National Association of Securities Dealers Automated Quotations, NASDAQ, the two largest stock exchanges in the world. Combined, the total market capitulation of these two stock exchanges exceeds 45 trillion USD, which is more than 20x the size of the ASX. Having the ability to invest in these markets opens a huge opportunity.
Free Stock Offer
Stake is offering new users who signup the chance to participate in the 'free stock offer'. If eligible users sign up with a Stake referral code, such as 'TOBIASC275', they will recieve a free share potentially worth up to $150 USD
How to use referral code
A free stock in either Nike, Dropbox, GoPro or potentially even 1 of 3 ‘mystery shares’.
Enter the referral code ‘TOBIASC275’ into Stake when signing up.
How to use the Stake Referral Code?
Enter the referral code ‘TOBIASC275’ upon signing up.
Complete the identity verification process and wait for your account to be approved.
Deposit money into the brokerage using ‘POLI’ or online banking within 24 hours upon opening the stake app with your new account. If you do not deposit money into stake within this period, unfortunately you will not be eligible for the free stock program using the referral code ‘TOBIASC275’. If you are not unable to deposit money, DO NOT open stake until you are.
Spin the wheel and receive one of six free shares. The free stock will be issued within 3 trading days.
What Free Stocks Can I Get with Stake?
Using the referral code ‘TOBIASC275’ you can get one of six shares, potentially worth up to $160 USD.
Less than $10USD
If you land on the ‘mystery’ share, the value will be less than $10 USD [hellostake.com]. Most likely you will receive ‘ABEV, or a share in Ambev. Unfortunately, the market price is less than 3 USD. But hey, it’s better than nothing.
Who is Stake for?
Stake is for any Australian, New Zealand or Brit who wants to help their future self out and start investing. Specifically, Stake is targeting the younger population, say millennials who are looking to start investing capital but do not have large sums of money to play with.
How does Stake make money?
Let’s talk more about the fees. In terms of US investments, Stake does not have fees on trades but rather on depositing and withdrawing money into Stake. Think of this like a ‘currency conversion’ fee. The fee on both depositing and withdrawing is 0.7% with a minimum charge of $2. It should also be noted that the minimum deposit into stake is $50 AUD.
$2 or 0.7% whichever is greater
$2 or 0.7% whichever is greater
Why Stake - Advantages and Limitations
Ability to invest in the United States, Nasdaq and NYSE, as well as the ASX all in one account
No fees on trades or inactivity fees
Fractional shares in the US Markets. You can buy whatever securites you want from as little as $10.
Simple interface with great customer support
Free stock using the Stake Referral Code 'TOBIASC275'
Mostly beginner focused as there is are no options/derivatives or margin/leverage.
No premarket or after hours trading
limit orders expire within a day
$5 US 'tax form fee' upon signing up
Stake black is expensive and does not add functionality
While there are a few limitations to stake, overall I still love the brokerage and use it religiously. It’s great being able to make smaller investments more regularly without fees eating up on your returns. For example, rather than making a lump sum $500 investment, I can break that up into multiple smaller investments, into the same company or even different ones.
If you’re thinking of signing up may as well use the referral code, ‘TOBIASC275’ and get a free share.
The price of Stake ASX is $3 a trade, which is the lowest price to trade Australian shares.
To access the ASX version, you will still require a 'normal US' stake account and from that can add an additional 'market access'. There is no additional free stock program linked to the ASX version. So if you want a free stock, make sure to sign up using the Stake Referral Code 'TOBIASC275' and deposit money into the 'US Section'.
To read more about it, click here.
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