Disclaimers
Stakeshop Pty Ltd, trading as Stake, ACN 610 105 505, is an Authorised Representative (Authorised Representative No. 1241398) of Stakeshop AFSL Pty Ltd which holds Australian Financial Services Licence number 548196.
At Stake, we’re focused on giving you a better investing experience but we don’t take into account your personal objectives, circumstances or financial needs. Any advice is of a general nature only.
Please be aware that when investing, all your capital is at risk. As investments carry risk, before making any investment decision, please consider if it’s right for you and seek appropriate taxation and legal advice. Please view our Financial Services Guide before deciding to use or invest on Stake.
When opening an account with Stake you confirm that your details will be shared with DriveWealth, LLC (DriveWealth) and an application for a DriveWealth brokerage account (Limited Purpose Margin Account) will be made. Please read the DriveWealth terms and conditions, disclosures and customer agreement before applying for a Stake account.
When you sign up with Stake, we may also seek your consent to open in your name an Airwallex 'virtual wallet'. Airwallex services will be accessible through the Stake platform, including virtual wallet services to deposit and pay out funds to and from the virtual wallet to a linked bank account.
Stake’s US broker-dealer, DriveWealth is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash) in the event DriveWealth goes into liquidation or experiences financial troubles. Visit SIPC - Securities Investor Protection Corporation for further information. You can check the background of DriveWealth on FINRA’s BrokerCheck here.
Information on Stake is not an offer, solicitation of an offer, or advice to buy or sell securities or any financial product, or to open a trading account in any jurisdiction where Stake is not registered to do so. Upon opening an account with Stake from a jurisdiction where Stake is not registered or able to market its services, you confirm that Stake did not make an offer, solicit an offer or provide any advice to buy or sell a financial product. If you are based in a jurisdiction where Stake is not registered (or regulated) you are responsible for ensuring that you comply with all local laws and regulations that you are subject to and for obtaining your own financial advice and legal advice if you are unsure.
Exchange Traded Funds
Before investing in an Exchange Traded Fund (ETF), an investor should consider the investment objectives, risks, charges, and expense of the investment company carefully. The prospectus contains this and other important information about the investment company. You should read the prospectus carefully before investing.
Inverse and leveraged ETFs are complicated instruments and are generally only suitable for experienced investors and traders who monitor their trading regularly and understand the nature of the product. On Stake, before trading these types of instruments, we suggest that you make yourself aware of the risks involved with them. We’ll also seek your confirmation that you understand these risks before you place a trade in one.
As these products are designed to meet their stated objectives on a daily basis, they may not be suitable for long term investments. Please make sure you are aware of these risks before you trade these products.
Over the Counter Securities
Before investing in an Over the Counter (OTC) security, an investor should be aware that OTC securities are securities that are not listed on a major exchange. An investor should consider whether investing in OTC securities is appropriate for them, taking into account their investment objectives, the risks of OTC securities and associated charges.
OTC securities may be more illiquid than securities listed on a major exchange, which may impact the execution price and an investor’s ability to buy or sell such securities within a reasonable period of time. OTC securities may be subject to higher volatility in price and spread. Further, OTC securities in certain companies may trade at a lower volume and any trade may impact the stock price more heavily.
Certain OTC securities may not be subject to the same minimum listing standards and regulatory requirements as listed securities on major exchanges. Companies may not be required to report and disclose certain information. Publicly available information about the company may also be difficult to obtain. There may also be business risks associated with OTC securities, including that the company may be new, have no assets, operations or revenues, or have products or services that are still in development. Investors should thoroughly research the relevant company before investing in an OTC security.
For more information about the risks, see here.
System Availability, Orders, Execution and Data
Stake offers different order types including market, limit and stop orders.
A market order is an order to buy or sell a security at the current market price as quickly as possible. Market orders generally prioritise successful order execution over order price. They are not guaranteed to execute at the last price at the time you submit an order. Due to volatility and other factors, market orders may execute at a significantly different price. Market orders are not guaranteed to execute, due to illiquidity for example. Aus Market orders placed through Stake are converted to limit orders just above (for market buys) or just below (for market sells) the market price. This offers a level of price protection, but means if the price suddenly moves outside these limits, the market order cannot execute. You should monitor the status of your market orders.
A limit order is an order to buy or sell a security at a specified price or better. Limit orders only execute if the security’s market price reaches the limit price set by you or better. If the specified limit price is never reached, the limit order will not be executed.
A stop order is an order to buy or sell a stock once a specified trigger price is reached. If the trigger price is reached, this triggers a market order to be placed for the desired trade to execute at the best price immediately obtainable. Stop sell orders are often used to limit the amount of losses if a stock price falls, however they are not guaranteed to execute, and may execute at a significantly worse price than the trigger price. Stop orders may reduce your trading risk, but they do not completely eliminate it. For example, in a highly volatile market the market price may drop so quickly that there is no opportunity to liquidate your position at the stop price designated. You should monitor the status of your stop orders, especially once the trigger price has been met.
It is important to note that the limit price or stop price specified by you may not be reached and your order may expire or be canceled beforehand. The exchange, Stake, or the broker, may need to cancel your order due to causes including (but not limited to) corporate actions, market statuses, or your specified price becoming too far from the market price. Even if the limit price or stop price specified by you is reached, your order may still not execute for a range of reasons, for example due to a lack of liquidity or technical error.
You may also place specific order types with different ‘time-in-force’ instructions or expiry periods that indicate how long an order will remain active before it is executed, canceled or expired.
It is your responsibility to monitor and manage your orders and instructions. You may not always be able to amend or cancel your instructions related to certain order types before the order is executed in full or part.
With all orders, factors such as market conditions, price volatility and liquidity may mean that an order is only partially executed, or not executed at all. Orders are not guaranteed to be placed by us or guaranteed to execute in full or part, at a certain time or at a particular price. Orders may expire or be canceled or purged by Stake, our Service Providers or the market operators or participants.
Please refer to the best execution terms of Stake’s US Broker-Dealer, DriveWealth, here and Australian broker, FinClear, here.
System availability and response times, data, liquidity, execution speed and price are subject to market conditions, order size, order types, any connection limitations and various other factors.
All chart data is provided for informational purposes and should not be relied on for taxation or any other purposes. Please note that market data is provided courtesy of DriveWealth LLC, Tiingo and ASX Marketsource and FX data is provided by Airwallex. No representation or warranty is made as to the timeliness, reliability, accuracy or completeness of the material and Stake does not accept any responsibility arising in any way for errors in, or omissions from, that data.
Extended Hours Trading
Before placing instructions to trade US securities in pre-market hours (4.00am - 9.30am Eastern Time (ET)) or post-market hours (4.00pm to 8.00pm ET) (Extended Hours Trading), an investor should consider that trading outside of standard US market hours (9.30am to 4.00pm, Monday - Friday Eastern Time) carries additional risks due to lower liquidity, price volatility, news announcements, higher volatility and wider spreads. Extended Hours Trading may not be suitable for all investors, and investors should carefully consider their own risk tolerance, objectives, financial situation and needs to determine if Extended Hours Trading is appropriate for them. Stake does not make any recommendations about whether Extended Hours Trading is suitable for individual investors.
During Extended Hours Trading, there may be lower liquidity and wider quote spreads. This means that there is less trading volume which can make it more difficult to execute trades, and wider spreads between the bid and ask prices for securities. As a result, instructions to place trades may not be executed (in full or part) during Extended Hours Trading and investors may find it difficult to get as favorable prices as they could have during standard US market hours.
Typically, many participants of Extended Hours Trading are professional traders from large institutions who may have access to more information than individual investors. We recommend that investors always research securities before making any investment decisions.
The price of securities may fluctuate more during Extended Hours Trading than standard US market hours. News, information and market updates announced during Extended Hours Trading may significantly impact the price of securities. Such announcements, if combined with lower liquidity and higher volatility, may cause sharp price swings of securities. Additionally, the price of securities may not be calculated or widely disseminated during Extended Hours Trading for certain securities whose value is derived from an underlying index or calculated at other predetermined levels. The prices of securities traded during Extended Hours Trading may not reflect the prices at the beginning or end of standard US market hours. Consequently, you may receive an inferior price when using Extended Hours Trading.
During standard US market hours, trading quotes, last-sales reports and prices are consolidated across electronic communications networks and trading facilities. Stake, via its US Broker-Dealer, may not have access to every, or any, facilities that participate in Extended Hours Trading. This means that quotes and prices will only represent the prices available at that time through facilities that Stake’s US Broker-Dealer has access to. Quotes and last-sales reports can vary widely between facilities, so you may not receive the best bids and offers available on every facility during Extended Hours Trading.
Instructions for orders designated for Extended Hours Trading are not guaranteed to be executed in full or part, and our US Broker-Dealer may reject certain orders at their discretion.
For more information about Extended Hours Trading and the risks, see our US Broker-Dealer’s Extended Hours Trading Disclosures here. This contains important information about how Extended Hours Trading works and important considerations, including the order types available and how our US Broker-Dealr will handle them. For example, DriveWealth uses a practice referred to as ‘Market Order Collaring’ to limit losses for market orders where the market price has drastically changed.
Analyst Ratings
Stake sources information such as financial data, market data and depth, course of sales, analyst ratings and stock ratings (Information) from third party vendors. Data is not delivered on a real-time dynamic streaming basis. System availability and response times, data, liquidity, execution speed and price are subject to market conditions, order size, order types, any connection limitations and other factors. No representation or warranty is made as to the accuracy, completeness or timeliness of the Information and Stake does not accept any responsibility arising from errors in, or omissions from, the Information.You agree that such Information is for informational purposes only and is not intended to constitute a recommendation or general or personal financial advice and that as a result of having access to or using the Information, no agency or advisory relationship is created between you and Stake. Neither Stake nor any third party provider is responsible for any investment decisions or for any damages or other losses resulting from the use of the Information.
Waitlist and Promotions
Getting “early access” to a promotion is defined as signing up with a valid email address on a waitlist for an upcoming feature or promotion. Early access to the promotion or feature with Stake is not an offer or solicitation of any financial services or any confirmation that a trading account with Stake or any account with any of its partners has or will be opened.
Priority on any waitlist or promotion may be given to existing customers of Stake.
Stake may from time to time run promotions or programs offering rewards or incentives. If you elect to enter such an offer, you agree to the terms and conditions that apply to such promotion or program.
Pricing
Stake may from time to time offer zero or discounted brokerage on its platform, including in respect of certain promotions and Stake Rewards. Other fees still apply including (but not limited to) foreign exchange, account, alternative dispute resolution, securities and exchange commission & FINRA (regulatory sell side) fees depending on whether you are using Stake AUS or Wall St. Please see our pricing information for more detail on all applicable fees. Pricing may be updated at any time and customers will ordinarily be provided with 20 days notice.
Third Party Links
Links on hellostake.com/au, the Stake app or any Stake related website may take you to a third party site. These sites are not affiliated with Stake and may have a different privacy policy, level of security and terms & conditions.