hellostake Opiniões 142

Absolute crap to deal with!
Started off fine with SMSF account and deals for low brokerage fees. Kept on increasing since 2022. Very high FX fees everything you transfer money AUD USD and back. Not a seamless buying experience like IBKR.
Introduced Stake Black and started charging for that on each account.

Also be warned about some made up FINRA day trading Margin call requirements.
Never had an issue with Day trading on IBKR. Called support who has no clue what it means and sent me a link to read up myself.
After telling them clearly it does not apply to me as I do not have a margin account.

- Exhorbitant brokerage fees
- No interest given on cash balances.
This will cost you big money. Example $300000account uninvested funds gets you 3.8% - 4% (IBKR) with other brokers. That's $11,000 or more interest Stake pockets on your cash.
-20,000shares buying limit per order. Causes big issue if trading in Low $ value stock. Have to raise multiple orders one after the other. How basic! Lost opportunities due to price movment.
- no ability to short stocks
- no overnight trading
- Useless trading platform(app) if you can call it that.
Charting is for 5th graders level.
- Snail pace order execution so you have so much leakage in order price.
- if you place a price sensitive order. Forget about quick in and out trades. App doesn't even register a execution for seconds and you are left to wonder if it has gone through or not.
-Done Limit order execution for same price order on IBKR and stake as a trial many times. IBKR executes as order routing is much much better. Stake sits there and dreams on.
- Stake's online trading broker must have given them a cheap no frills deal.

- US and ASX Separate accounts so you have to keep moving money back and forth so they can charge over the top FX fees.
- Extreme over the top commissions

HELLO stake was introduced as a great low fee option. Has lost its way maybe due to mgmt.
Not competitive and thus shutting down UK operations.
Only a matter of time Aus/NZ shuts down as customers leave in droves.

Stake mgmt should do a simple sense check and check IBKR for some ideas on how to save this business.

Initially, I thought Stake was a reputable and trustworthy brokerage firm; however, I have come to realise this was incorrect. The company appears primarily focused on extracting funds from its customers. Although their transaction fee of $3 for buying and selling is relatively low, it is still higher compared to other brokerage firms that either charge no fee or only $1.

Moreover, Stake levies a foreign exchange (FX) fee of 2%, which can accumulate significantly when transferring funds in and out of the account. The most considerable concern is the transaction processing time, which is advertised as being between 1 to 2 days; in practice, however, it has stretched to 10 days and is still ongoing. Additionally, one must consider the transfer fees, which can reach approximately USD 200 per stock. Consequently, there is a substantial risk of incurring significant financial losses.

As a relatively young company, Stake has lost sight of the importance of customer satisfaction. The continued operation of any business is contingent upon its client base, yet the company exhibits behaviours that may be perceived as unprofessional.

It appears that Stake employees are too busy to reply to emails. Telephone calls are not returned and employees have repeatedly 'mislead' me. Currently a large amount of my money is unaccounted for. I see that I am not at all alone in my negative experiences and endorse the opinion that Stake should be avoided. The anxiety that this situation has caused is horrific.

Love using Stake. Extended hours trading is brilliant with a super easy switch between Wall St and ASX.

WARNING. Terrible service. Simple resolves take up to 3-4 weeks minimum. Higher brokerages are worth paying for when you get to speak to someone and have things sorted within hours, not weeks. Be Warned not to use Stake.

UPDATE. It's been 6 weeks and they still can't process a basic HIN Transfer. The reply below never got back to me.

Absolutely shocking service, prices constantly stalling and showing the wrong prices.
Lost me $4000US by locking me into a highly volatile position overnight because their absolutely abysmal broker has to abide by FINRA and their PDT rules, (which Australian residents don’t have to abide by).
Extremely slow withdrawal process, happily take your money instantly then take days to return it.
I’ll be moving every cent of my funds to Interactive Brokers, far better platform with instant pricing and won’t lock you into volatile positions.

EDIT: In response to the reply from Stake, this is a warning to anyone who plans on using this platform.
Their reply is utter nonsense, Australian residents DO NOT have to abide by the Pattern Day Trade rule.
I'm currently using IBKR and can day trade as much as i want.
Don't use stake unless you want to lose thousands due to their abysmal service.

The customer service response time is absolutely pathetic at Stake , it’s 24 - 48
hours , Imagine what would you do if you are unable to login into your account and want to sell your shares quickly , I am having the same problem ,
i am unable to login to my stake account while overseas , There was no email listed on stake website for customer support and if you are overseas on vacation , their enquiry form submit button is disable overseas , Anyways i googled and find out the support email , and they send me an email and advised that it will take 24 to 48 hour to look into my enquiry , I had the same issue with their competitor superhero.com.au and they resolved the issue within 2 hours . Now i am awaiting stake email reply. I will close my account soon

Had a personal account and just set up a business account which customer service assisted on quickly. Love the website and app, easy to use and smooth

Was with stake for about 18 months. Had some minor issues with their interface. Worst was they never showed the total balance of your portfolio, only cash plus holdings so annoying to have to add up yourself. However it all came to a sudden halt when I couldnt buy stocks one morning, I bought 2 but the other 2 gave an error. After a lot of emails and not much feedback they said they could no longer provide me service due to a compliance issue, but they wouldnt say what it was. I suspect it was a system issue as I had over 45 holdings but the fact they wouldnt tell me made me suspicious. I couldnt even sell my holdings, only transfer to another broker. Was an awful experience and extremely frustrating as I am a regular trader and had a lot of exposure whilst I had to transfer the shares out. So I guess cheap brokerage comes at a cost. I will never go back.

Yet another fee....well didn't you know. A while ago stake decided to take all interest accumulated in the US Stake wallets. Promised no fees and there you are. If they were honest they would offer an option of a free broker to broker transfer.....unlikely.....just a small fee of $US50/security.....very friendly lot....not very trustworthy however. Empty promises to get your business and then slap you with more fees.....and this is only the beginning. Just wait there is more to come...

Introduction of fees for US stocks - Stop Baiting Customers
I am so sick and tired of companies using attractive sales gimmicks to bait customers, and then slide in the new fee schedule. It’s the same old tactic of sucking people in, and then when you think you have their loyalty, you change exactly why the customer chose your product. I sincerely hope you lose all your customer base, and I will be doing everything to ensure people know Stake is just another gimmick. Just like Spaceship did, you think people are lazy and won’t change. This practice needs to stop. Another case of a company using a lazy sales tactic to draw people in - and another case of Aussies having lack of access to what others have. You already make more money as a result of recent actions, including the lending of stock for short sales. WARNING to all - transfer your assets out now before they introduce something else.

Oh it gets better - I just checked their fees for moving your shares out to another broker. If you have invested in a lot of companies it will cost an absolute fortune! I love how they out in their email, you can transfer your shares out before the fees change, but don’t mention it could cost hundreds/thousands. Absolute disgrace.

Hi Iam a grandfather member of Stake.I have been given an ultimatum to upgrade if I wish to continue trading.Iam now being told whilst
trying to do so it's not available in your country and not available on your device.
How long is it going to take to get this sorted?Martin Green🙄

Took a while to sort, but got there in the end, I had 18k with them which I couldn't access and the customer support has been slow to respond. I cannot get onto the platform by any method (PC / mobile or ipad) which was causing immense worry. this has been going on for a couple of days now with no end in sight or improvement. Originally I could not access on PC, this then went to Ipad and now the mobile app. I have sent screenshots and just keep getting told to check my location which I have done EVERY time.
Update, now sorted out eventually

Recently I upgraded my phone so I forgot to update my authentication app to my new phone. Now I can’t login to my STAKE mobile app without an authentication code.
So I sent three emails to STAKE but nobody reply.

Probably the best exchange for NZ AUS
Ive best with stake for 6 months now and they are by far the best exchange for NZ and Australians looking to invest in the U.S market. The fees arent high at all and support is always available. Anyone looking at getting into investing in stocks this is your best way to start.

Thanks hello stake :)

Extremely slow portfolio transfer process! It took exactly one month for my portfolio to be transferred from SelfWealth to Stake. I didn't make any trades during this time as it would disrupt the transfer. Stake's excuse was "we didn't receive your email" even though I replied to the email that they sent me THREE times!.
You ultimately get what you pay for in life.

Fast and reliable investing. I have been using Stake for over 6 months now and I feel life is too short to use a poor UI/UX.

Love what Stake has to offer.

Hellostake Australia is extremely poor, I would give them a zero rating if that option was available!
For instance, they messed up my account due to a technical glitch in their system and then took $600+ of my capital while trying to rectify their issue. I am still waiting for them to rectify their mistake. Unreal!
Additionally, I withdrew $700 from my AUS stake account on 9/12/2021 hoping it would be processed within hours like is the case with other Australian platforms. However, nothing happened until 13/12/2021. When I made a follow-up call on 13/12/21,I was advised that the team had now started processing my money and they wanted me to respond to their email. To my utter surprise, they had sent me an email 3 minutes earlier requesting me to email them my personal details(date of birth , etc) via gmail before they could release the money I had withdrawn on 9/12/2021. I then reminded them that sending sensitive information via gmail was very unsafe and I could not risk my personal information with my eyes wide open. I opted to provide the information over a secure phone platform instead. Upon providing the information, I was then told that I still had to wait for another couple of days before receiving the money in my bank account. So I am still patiently waiting for the money to hit my account on 15/12/2021! Unbelievable! Are they still spinning my money first before sending it to my bank account given that the money was withdrawn from my stake account on 9/12/21???? I sincerely hope NOT.
PS. When I called the team, I also gave them this negative feedback and asked them to do something about this appalling service, for their customers' sake. Whether they took it seriously or not is anyone's guess.

Excellent customer service.

complete fraud! my money never got to my account upon transfer, they have taken £5000 from me for no reason and refused to refund me the money now. it has been almost a month but no solution was offered. never use this if you want to keep your money safe. I have resort to higher authority to resolve the matter. but NEVER USE THIS.