Hey guys, it's sasha steak is a relatively new investing app the platform started out in australia and has since expanded to new zealand, the uk and brazil. So far stake is quite unique and different to other investing apps and in this video i'm going to do a full review and tell you what i think about it. I'll tell you everything you need to know about the app all the things that i personally like about it and, by the way, spoiler alert. I like a lot about steak and the things i don't like about it too.

It has some really big advantages over the competition, but also some big downsides, so watch all the way through, so that you can go and decide if you want to try it out by the way. If you do want to try, stakeout feel free to use my link in the description below and you'll get a free share of gopro dropbox on nike, when you create your account and make a deposit within 24 hours and that's at least 11.60. I'm recording this video. If you get a gopro share and up to 154 dollars to get nike, that's not bad at all.

Anyway. The app has one major focus, which is also its biggest limitation. It only allows you to invest in u.s stocks. So if you're like me and the vast majority of your investments are in u.s stocks, this app is awesome, but you can't buy stocks from other countries.

You can't buy ets, so this app is definitely not for everyone. Stake have a web and an app version both are great, and this is a big plus for me. I always get frustrated when platforms are app only or web only and don't have the alternatives. I really want to be able to manage my financial accounts on a big screen, but also have access on my phone when i want to the one thing i really like about the platform that really sets it aside for me that it is designed as an investing App, rather than a trading app, the layout is really nice and calm.

There are no flashing red and green boxes or a sense of urgency, which i personally like it is far more relaxed because stake is designed for buying us shares for those of us who live outside the u.s. The account is actually denominated in u.s dollars, rather than pounds or whatever your local currency is, and that is where the only fee they charge comes in. When you deposit money into stake or withdraw back out of stake, you have to pay a 0.5 fee. Just be careful because that fee has a two dollar minimum.

So that means, if you deposit anything below four hundred dollars, you will have to pay that two dollars fee, regardless of how much you've deposited so avoid making frequent small deposits. If you want to go and avoid paying that fee, because if you say deposit just fifty dollars, you'll be paying an effective four percent fee for the privilege, which is very expensive. If you want to avoid paying that fee by making a deposit from a usd account. You can do that, but you will have to pay a five dollar fee in order to do that, to stake.

So if you're trying to bypass a 0.5 fee by using revolut or wise or some other account, where you know the transferring of money from pounds over to dollars is cheaper, then you can do that. But remember that if you choose to transfer anything under a thousand dollars, that 0.5 fee is actually cheaper than the five dollars you'll have to pay, and even above one thousand dollars remember, you still have to account for whatever the cost of doing the transfer, with the Other account on top of the five dollars so make sure you bear that in mind anyway, this fee, this not point five percent for an exchange fee that they have sounds expensive. If you deposit money, invest it and then withdraw it. You're gon na have to pay two lots of that 0.5 fee, and that sounds like it's more expensive than other platforms, but this is a really critical point.

The great thing for me is that stake: don't do transaction based fees so investing in stocks once the money is already in the platform is completely free and that's where it's quite unique. This is where the big advantages trade into one two, which is a really popular platform - and i use a lot myself charge a much lower, not 0.15 foreign exchange fee, but it's charged on every single trade buy a company then later sell that company and you've paid 0.3 then go and do the same again with the same money and you've paid 0.6, etc. You see where i'm coming from that fee is very low, but it can add up over time for trading two and two which you can't do for stake, even if you're a long-term investor and hold a company for a few years. When, eventually you exit that position, it won't cost you more to go and reinvest that money so for a long-term investor like me, even if i'm planning to hold on to a company for a period of say two to three years, maybe even longer it really depends.

I still like to have the certainty and the benefit that in the long run, this is still going to be cheaper for me and free trade, the jiro ig and most other alternative platforms, all charge transaction based fees as well. The only other platform that doesn't is etoro and i use both platforms and the torah have a very similar charging structure, but i found that the number of us companies available on stake seems to be greater. This is someone anecdotal, but steak has over four and a half thousand stocks on a platform which is a lot, and i've certainly found ones on etoro that weren't available that were available on steak. And that's why i have a personal preference here, but you'll notice that they say stocks in etfs rather than just stocks.

When i'm talking about that four and a half thousand number. And if you do a quick search, you might get excited because you'll see that you can go and invest in arc, invest cetera. But these etfs are only available to professional investors due to regulatory reasons, and you can only self-classify as a professional investor. If you either have over 500 000 euros invested or if you've worked in investing or trading professionally, so most people probably won't qualify when it comes to making investments.

Stake offer fractional shares just like a lot of other people, do which work really really well, and you don't have the issue of having a few random pennies left over when you make a trade as you do with free trade, because they have enough decimal points. Not that it's very easy to see the exact number of decimal points that you hold on the fractional shares, because on the dashboard screen, all the numbers are rounded down to just two decimal places. So, as you can see, i have 2.43 shares of tesla. Now, if i click on tesla over here, you'll see that instead, i actually hold 2.4300 shares of tesla, but even that is not the full number, that's still rounded, to four decimal places.

If i click on the sell button, you get this little bit of text underneath. That's telling you exactly how much i own all the way down to eight decimal places and that's the most accurate number that i found and yeah now, while we're here. Let's quickly talk about the buying and selling of shares and stake, and here stake is different to every other platform that i'm using the default setting for buying and selling shares is a limit order. That's the type of order where you set a price at which you want to buy or sell the shares rather just buying and selling whatever.

The current exact market rate is when they're trying to complete the transaction and every other, investing app that i have used that i'm currently using uses a market order as a default. So this is interesting, and i actually quite like it. This i think, will actually improve the way people think about investments and probably make people think just for a moment before pressing that buy button on what the price they should be buying at is now stop. Orders are also available, so everything is here that you would normally expect from regular investor cam and i've tried all the different orders and they all work well, as expected, one thing to note is that the minimum size of a trade on stake is 10, so you Can't buy super super low amounts of stock individually.

However, there is a way around it. If you have a low amount hanging over below the 10 threshold - and you don't have more money coming into the account, you can sell a bit of an investment that you already have to add up to over 10 overall and then go and invest that back in Because there was no transaction fees that actually won't cost you anything other than potentially losing out in a little bit of gains with the money that you pull back out. If you do sell shares, however, there is one thing you need to know stake doesn't lets. You reinvest money before the transaction is fully settled if you're used to using something like trading 212 or free trade or some of the other new apps.

Some of them will let you sell shares and then immediately use that money to buy something else. Those companies are essentially lending you money for two days, while the shares are actually being settled in the background, but with stake. You do have to wait those two business days at the moment for the transaction to actually settle, and only then can you go and reinvest. The money, so if you want to be very active with managing your investments, that is a little bit of a downside, now stake do have a paid version of the account called stake black, which allows you to trade funds before they settle, which is a big plus.

You also get a lot more information about companies, including financial data, and buy sell ratings and price targets from professional investors. I don't really value those latter bits of information from professionals so much, but the ability to reinvest money quickly and the extra information are very useful. The downside is that state black costs nine dollars per month or ninety dollars. If you pay for the whole year in one go.

So if your portfolio is relatively small, that is actually quite a large fee to pay just to be able to make trades more quickly. Stake do seem to be very good at some of the technical elements, however, of managing the platform, and i was quite impressed with that for a relatively new platform compared to say free trade. They certainly have a lot more data and a lot more information flowing through and compared to even some of the existing ones. For example, etoro, your whbn form is properly filled in by stake and submitted properly, which means that if you live in the uk, you only pay 15 withholding tax and dividends instead of the regular 30 rate because of the special tax treaty between the countries.

At the moment, for example, on etoro, it looks like you do the same thing, but they don't actually properly submit it, and that means that you have to pay the full 30 percent on your dividends instead of the 0.15 and because both of them charge you the Same not 0.5 foreign exchange fee. This just tips my preference to stake slightly on the pricing front, creating an account mistake was a breeze. For me, it was very quick, a really good process. They might request some additional information for some people, depending on how you are verified automatically, but i really liked it.

I had absolutely nothing negative to say about it. I have a separate video where i go and show that exact process exactly how it happens, i'm going to link it up here and in the description below if you want to go and check it out, but in short, all you have to do is use my Link in the description below create your account deposit at least 50 pounds within 24 hours and you'll get that free share deposits are not immediate. This is something again where it's a little bit different to some of the other apps. They take one day to actually turn up unless you're going to pay an extra 0.5 fee, which makes some money arrive by the start of trading, but that's pretty expensive for me.

So i haven't personally paid that fee when i made my two deposits so far. Unfortunately, stake don't offer isa accounts at the moment. So that is a downside if you want to invest through stocks and shares isa, but according to their website, those isas might actually be coming very soon in the next few months. The stake website and app are really nice to use.

That's just my personal opinion. I really really like it. You get a decent amount of information and graphs, and although it is not as detailed as some like trading 202, it's still really informative. The candlesticks go down to five minute intervals on a daily chart and you get up to three years of price history.

That should be more than enough for a quick check or a quick look for most people. If i scroll down, you can see the analyst ratings here in the full company financials. These are only available if you have the stake black account, which i do because i have my affiliate link with them. The dashboard screen looks great, very calm and if you can see the little portfolio on there that i have, that is doing really really well.

I have a whole video series where i do one video a month where i'm trying to beat the market with this stake portfolio and so far while the market is up a bit under two percent. Since i started my portfolio is up over 18. Well, it's actually more than that. If i waited properly make sure you subscribe to the channel to see how that experiment goes, i hope you guys found this useful.

I hope this review helps. You understand a bit more about steak. I really like steak and it's becoming one of my favorite investing apps. If not the favorite, the layout is really nice and i really like some of the little touches like the ticker.

That tells you when the market opens and closes, don't forget to use the link in the description to get your free share and leave a like on the video in exchange. Thank you. So much for watching and i'll see you guys later. You.