The future of brokerage is one with fast, simple, and direct access to the US market with no surprises. Founder and CEO of the digital brokerage platform Stake Matt Leibowitz just announced the company’s expansion into the UK.
Leibowitz believes Stake strips away hidden fees, unreasonable prices, and limited customer control for open, honest, and better services.
Stake is preparing to diversify its operations into the rest of Europe in the coming months.
The Sydney-based broker also caters to investors who prefer trading asset classes without fees. It now has over 50,000 customers across the globe.
With free entry-levels in its new market, the company introduced three-tier plans in the region.
UK investors also want to trade ETFs, Leibowitz added. This helped them fight to ensure these products were accessible for accredited users in the region.
An extended partnership with DriveWealth helped the broker to expand into South America last year. This move enabled local investors to trade the biggest companies in the world, like Amazon, Google, and Tesla.
Stake and DriveWealth
With fewer physical locations, small staff for client services, and fewer promotional campaigns, Stake keeps its free platform afloat. Moreover, its partnership with DriveWealth helped the platform to sustain it.
Thousands of users signed up for trading each month since its expansion to South America. Furthermore, both companies are focused on bringing simple, digital, affordable access to US equity markets for investors around the world.
The collaboration enables Stake to build portfolios around US stocks, ETFs, and ADRs for low costs. Additionally, it offers fractional trading, which allows investors to trade for even the biggest names in the industry.
Stake is one of the brokers which has a similar concept to commission-free investing app Robinhood. Beginning in Brazil in early March, the broker offers trading services with over 3,500 US stocks and ETFs.
Technology service and financial education provider DriveWealth helps users offer in trading, investment, retirement and rewards, and fractional shares on a dollar basis.