Stake (platform)
Stake is an online investing platform launched in 2017 in Sydney, Australia. It gives retail investors in Australia access to 12,000+ U.S. and ASX-listed equities, as well as an income fund and SMSF administration services – all in a digital platform available on desktop and mobile app. In New Zealand, Stake customers can invest on Wall St. Stake is now Australia’s third-largest broker.
History
Stake was founded by Matt Leibowitz and Dan Silver in Sydney to improve access to the U.S. share market from Australia. They registered the company in 2016, but launched the platform on 14 August 2017, with $0 brokerage on Wall St trades. Relying mainly on referrals, the startup gained traction as a low-cost broker for a new generation of retail investors.In early 2021, thousands flocked to Stake looking to capitalise on the GameStop short squeeze. By 28 January, the surge in activity was causing tech outages.
Days later, Stake’s broker-dealer in the U.S. – DriveWealth – significantly raised its capital requirements for buying $GME, forcing Stake to halt trading in Gamestop. This drew criticism but would ultimately accelerate efforts to make the platform more robust for heavy traffic.
Later that year, Stake introduced CHESS-sponsored ASX trading with A $3 brokerage. It also began offering Stake Super, a full-service administration solution for Australians looking to invest their own superannuation through a self-managed super fund. Stake Super handles all the admin involved for a fixed annual fee.
The company raised approximately A$3.5m in 2019, A$40m in 2021 and A$50m in early 2022 from investors including Tiger Global Management and DST Global. By then, Stake had over A$2b in assets under management.
Key leadership hires followed: Geoff Lloyd became Chairman in mid‑2023; Jon Howie joined as Chief Commercial Officer later in 2023.
By early 2024, Howie replaced Matt Leibowitz as CEO to lead Stake’s expansion to cater for broader portfolio needs. The first tangible step in this direction was the launch of Stake Accumulate, an income fund, in H1 2025.
In September 2025, Leibowitz decided to step back in to lead the business, resulting in Jon Howie's departure.
Stake has moved its head office from Sydney's Eastern Suburbs to the Central Business District, with a remote workforce spread across Australia as well as in Brazil and India.
Products and Services
- U.S.-listed stocks & ETFs: US$3 per trade, fractional shares, Extended Hours Trading.
- ASX trading via CHESS sponsorship: A $3 per trade, holdings under investors’ own HIN.
- Stake Super : Integrated self-managed super fund services, combining admin, accounting, taxation and auditing with Stake’s investing platform.
- Stake Accumulate: An income fund with a consistent target return that aims to return 2% p.a. above the RBA cash rate.
- Stake Black: A paid membership offering advanced features such as analyst ratings and price targets, full financial data on U.S. stocks, instant buying power on unsettled funds for U.S. trades, and market depth and course of sales for ASX trades.
Regulation and Security
For U.S. investing, Stake’s broker-partner DriveWealth, LLC is registered with the U.S. regulator FINRA and is a member of SIPC. This means securities are protected for up to US$500,000.
Vision, Mission and Onwards
Stake’s vision is to “unleash the investor in everyone.” To work towards this, the company focuses on a mission to “break barriers between ambition and financial progress.”This stance on ambition is crystallised in the brand platform Onwards, launched by Stake in late 2024. It inspires people to embrace change and focus on what they can control to maintain financial momentum, particularly in an evolving economic landscape. Onwards positions investing as a path to wealth creation that’s independent of wage growth, the property market or any of the traditional income sources past generations could solely rely on.
Ambition Report
Stake publishes an annual Ambition Report, surveying thousands of retail investors in Australia and New Zealand to explore financial motivations, investing behaviour and economic sentiment.The 2024 Ambition Report found trends such as investors delaying discretionary spending but maintaining long-term share holdings, and prioritising asset ownership over hustle culture in response to inflation and wage stagnation.
Market Position and Adoption
As of mid‑2025, Stake has over 750,000 registered users and A$5 billion in assets under administration across the ANZ region.Stake’s mobile app has an average rating of 4.6 on the App Store and 4.7 on Google Play Store. Reviewers often highlight the user-friendly interface and ease of navigation as suitable for both beginners and experienced investors. Seamless switching between Wall St and the ASX is a frequently praised feature. Many also appreciate the simple brokerage fees and the ability to trade fractional U.S. shares.
While some users have reported issues with customer service responsiveness or limited trading tools in the free version, the overall sentiment leans towards Stake being a cost-effective, straightforward and reliable platform for navigating a wide range of global investment opportunities.
Awards and recognition
- 2025 Canstar Online Share Trading Awards - ‘Most Satisfied Customers’
- 2025 WeMoney Investment Awards - ‘Investment Platform of the Year’
- 2025 WeMoney Investment Awards - ‘Best for Australian Investments’
- 2024/2025 WeMoney Investment Awards - ‘Best for SMSF’
- 2024 Finder Customer Satisfaction Awards - ‘Most Loved’ Share Trading Platform
- 2024 Finder Customer Satisfaction Awards - ‘Most Trusted Share Trading Platform
- 2024 AFR Boss Best Places to Work - #1 in Financial Services
- 2023 Canstar Online Share Trading Awards - ‘Outstanding Value – Trader’
- 2021 AFR Fast Starters - 7th fastest‑growing startup in Australia