Zero commission

4bfold

Newbie
Hi all,
recently started trading on Stake.com which markets zero fees on trades and the ability to buy parts of shares which looks very attractive for a very small portfolio. But recently they announced they will charge US$9.00 per month for the basic account starting July 2020 which will effectively wipe out a very large chunk, if not all of any profits I would hope to make. Does anyone know of any alternatives where you would pay less in fees if you hoped to trade with a portfolio of say <$2000?
 

Pat494

Legendary member
As far as I am aware they all charge commission on buying and selling. If they didn't make money, they wouldn't survive.
If you are a prolific trader that may not be a bad idea. Is it per account, per trading instrument or per $ X invested ?
 

4bfold

Newbie
Just had a quick look at stake.com. It seems to be roulette, slots etc. Not trading.
Sorry it's hellostake.com for their landing page. I was previously living in Aus so the site with the actual trading is stake.com.au but I believe they've opened to the UK market too, still in beta stages. When selecting my location in UK i get this message - Desktop is not yet available for UK customers. Please download our mobile app to access your account. LOL

I'm also an idiot though. I've just seen they will still have a free monthly brokerage pack, they just start you on one that is currently free as the business is so new but will charge for it later on. So I will just need to change to the starter pack before they start charging.

Atm I'm just using a fundamentals approach and holding value so having all the extra features they offer isn't so beneficial to me at this stage.
 

MasterOfCoin

Experienced member
0 commission comes at a price.

& so we come to the small print.

1/ route to 'free' account is sign up for basic and change package after.
2/ funding and FX fees into dollars apply.
3/ additional $2 fee on all withdrawals.
4/ additional half percent on express transfers.
5/ max 2 free simple market order trades per month.

Simple meaning no limit or stop orders etc.

So, it's a good deal for dabbling in occasional low stakes on the dow-jones for fun, but no frills and forget 'riches'.

;)
 

TFA

Member
there is no free anything.
 

Pat494

Legendary member
It might be a business winner for brokers to have zero commissions and just charge a percentage on withdrawals.
Assuming some will be greatly profitable then they also have that money to invest too besides clients' deposits.
 
 
Top
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock    No Thanks