Stake vs SelfWealth (2026):
Fees, FX costs and who should switch
Both are CHESS-sponsored Australian brokers covering ASX and US markets. The real difference is cost model and FX mechanics: Stake charges $3 per trade with FX applied once at funding; SelfWealth charges $9.50 flat per trade with FX applied on every US order. Which one is cheaper depends on how often you trade and how much you move in and out of USD.
Some of the links on this site are affiliate links, meaning we may earn a commission at no extra cost to you if you sign up through them. This does not affect our reviews or recommendations — we only feature products we genuinely believe are useful for investors. This site provides educational content only, not personalized investment advice. Investments can lose value and past performance does not guarantee future results. You are responsible for your own financial decisions and for confirming the tax and legal rules that apply in your country.
TL;DR
- Cheaper on almost every ASX trade — $3 flat vs $9.50, no subscription needed.
- FX charged once when you fund your USD wallet, not on every US trade — a structural advantage for frequent US investors.
- Fractional US shares from US$10 — useful for smaller capital or high-priced stocks.
- Now offers SMSF support via Stake Super.
- No monthly fee — $9.50 flat per trade, same cost forever, nothing else to manage.
- Supports joint, trust, company and SMSF accounts natively.
- Hong Kong market access (ASX and US competitors do not always offer this).
- Community portfolio benchmarking tool — useful context, but treat with care.
Two different approaches to ASX investing
Stake and SelfWealth are both ASIC-regulated, CHESS-sponsored Australian brokers — but they were built around fundamentally different fee philosophies and investor profiles.
Founded in 2017, Stake started as a platform giving Australians access to US markets and has since added full ASX coverage. Its fee model is straightforward: $3 per trade on both ASX and US markets, no monthly subscription required. FX is charged once when you deposit AUD and convert to USD — after that, you can trade US stocks freely without paying FX again on each order.
Stake also offers fractional US shares, Stake Super for SMSF accounts, and an optional Stake Black premium membership for advanced tools. Over 750,000 investors now use the platform.
Founded in 2012 and listed on the ASX itself, SelfWealth was built around one proposition: $9.50 flat per trade, no matter the order size. No monthly fee, no tiers, no percentage-based brokerage. A $500 order costs the same as a $50,000 order. The model works well for infrequent, larger trades where the flat fee is proportionally small.
Its standout feature is a community portfolio benchmarking tool that lets you compare your returns against other SelfWealth members. It also covers Australian, US and Hong Kong markets, and supports joint, trust, company and SMSF accounts natively.
| Feature | Stake | SelfWealth |
|---|---|---|
| Founded | 2017 | 2012 |
| Regulated by | ASIC (Australia) | ASIC (Australia) |
| CHESS sponsored (ASX) | Yes — own HIN | Yes — own HIN |
| ASX stocks and ETFs | Yes | Yes |
| US stocks and ETFs | Yes | Yes |
| Hong Kong market | No | Yes (HK$88 + FX) |
| Fractional shares | Yes (US stocks, from US$10) | No |
| SMSF account | Yes (via Stake Super) | Yes (natively) |
| Joint / trust / company accounts | No | Yes |
| Monthly subscription | None required (Stake Black optional) | None |
| Community portfolio tool | No | Yes |
| Mobile app quality | Excellent | Good |
Where the real cost difference lives
Stake’s $3 flat brokerage requires no subscription — it’s simply the per-trade price. SelfWealth’s $9.50 flat fee has no monthly cost either, but the per-trade figure is three times higher at every trade size.
| Fee type | Stake | SelfWealth |
|---|---|---|
| Monthly fee | None (standard account) | None |
| ASX brokerage | A$3 flat (up to A$30,000) | A$9.50 flat per trade |
| ASX brokerage (above A$30k) | 0.01% of trade value | A$9.50 flat (same rate) |
| US brokerage | US$3 flat (up to US$30,000) | US$9.50 flat per trade |
| FX fee (AUD/USD conversion) | 55 bps on deposit/funding only | ~60 bps on every US trade |
| FX charged when? | Once at deposit — trade freely after | On every individual US trade |
| Hong Kong brokerage | Not available | HK$88 + FX transfer fee |
| Withdrawal fee | None (AUD) | None |
| Inactivity fee | None | None |
| US custody protection | SIPC up to US$500,000 (via DriveWealth) | Via DriveWealth (SIPC protection) |
| Portfolio transfer in | Free — unlocks $0 ASX brokerage for 12 months (min A$1,000 transfer) | Free in-specie transfer |
- $3 per trade — same whether it’s your first or hundredth trade
- No subscription needed to access the $3 rate
- Fund your USD wallet once — then trade US stocks without paying FX on each order
- Transfer existing ASX portfolio to unlock $0 brokerage for 12 months
- $9.50 flat — no surprises, no tiers, no platform to think about
- Same cost whether you trade $500 or $50,000 in a single order
- FX conversion applied on every US trade — compounds against frequent US traders
- Works best for large, infrequent trades where the flat fee is proportionally small
The true FX cost — and why the advertised rate is misleading
Both Stake and SelfWealth quote FX fees in a way that understates the actual cost. Understanding how this works is worth a few minutes — it often matters more than the brokerage line.
When a broker quotes “55 bps” or “60 bps” on FX, you might assume that means 0.55% or 0.60% of the amount you’re converting. But Stake and SelfWealth charge that fee in USD per AUD — not in the same currency.
Stake: charges US$0.55 per A$100 deposited (55 bps quoted). At a 0.65 AUD/USD exchange rate, that’s $0.55 ÷ 0.65 = approximately 0.85% effective, not 0.55%.
SelfWealth: charges US$0.60 per A$100 traded (60 bps quoted). At a 0.65 AUD/USD rate, that’s $0.60 ÷ 0.65 = approximately 0.92% effective, not 0.60%. This applies to every US trade individually.
| FX detail | Stake | SelfWealth |
|---|---|---|
| Advertised FX rate | 55 bps | 60 bps |
| How it is actually charged | US$0.55 per A$100 converted | US$0.60 per A$100 converted |
| Effective rate (at ~0.65 AUD/USD) | ~0.85% | ~0.92% |
| When is FX charged? | Once — when you fund your USD wallet | On every individual US trade |
| Can you hold USD and avoid repeat FX? | Yes — fund once, trade freely | No — each trade converts separately |
| FX on each A$10,000 converted (effective) | ~A$130 | ~A$142 per trade |
ASX, US, Hong Kong and ETF access
Both brokers cover the core markets Australian investors need. SelfWealth adds Hong Kong; Stake adds fractional US shares. For a standard ASX ETF portfolio, the investment universe is functionally identical.
| Asset / market | Stake | SelfWealth |
|---|---|---|
| ASX shares | Yes (2,500+) | Yes |
| ASX ETFs | Yes | Yes |
| ASX LICs and REITs | Yes | Yes |
| ASX bonds and hybrid securities | Yes | Yes |
| US shares (NYSE / NASDAQ) | Yes (9,500+) | Yes |
| US-listed ETFs | Yes | Yes |
| Hong Kong stocks | No | Yes (HK$88 + FX) |
| Fractional US shares | Yes (from US$10) | No |
| Fractional ASX shares | No (whole shares only) | No |
| Dividend reinvestment (DRIP) | No | No |
| Crypto / CFDs | No | No |
CHESS sponsorship, account types and investor protection
For Australian investors, CHESS sponsorship is the key safety question for ASX holdings. Both brokers get this right. The difference is in account type coverage and what happens to your US shares.
| Account feature | Stake | SelfWealth |
|---|---|---|
| CHESS sponsored (ASX) | Yes | Yes |
| Own HIN issued | Yes | Yes |
| US shares custody | DriveWealth (US custodian) | DriveWealth (US custodian) |
| US shares SIPC protection | Up to US$500,000 (incl. US$250,000 cash) | SIPC protection (via DriveWealth) |
| Individual account | Yes | Yes |
| Joint account | No | Yes |
| Trust / company account | No | Yes |
| SMSF account | Yes (via Stake Super) | Yes (natively) |
| Minimum deposit | None (A$500 min first ASX trade — ASX rule) | None (A$500 min first ASX trade — ASX rule) |
App, interface and investor tools
Stake’s app is more polished and mobile-first. SelfWealth has a more functional desktop interface and one genuinely unique feature — a community portfolio tool — worth understanding honestly before you weight it heavily.
- Clean, modern mobile app — well designed and easy to navigate
- Seamless switching between ASX and US accounts within the app
- Fractional US shares make high-priced stocks accessible from small amounts
- Stake Black adds out-of-hours US trading, Course of Sales and Market Depth
- Basic research tools — price charts, dividend history, company info
- No community or social portfolio features
- Community portfolio — compare your holdings and returns to other members
- Desktop and mobile — functional on both, more data-dense than Stake
- Detailed portfolio reporting, performance tracking and dividend calendar
- Company announcements feed and analyst information for ASX stocks
- No fractional shares, no auto-invest or savings plan functionality
- Interface is more utilitarian than polished
Who should use which broker
- You want the cheapest ASX brokerage — $3 flat, no subscription required.
- You invest regularly in US stocks and want to pay FX once, not on every trade.
- You want fractional US shares — useful for smaller capital or high-priced stocks.
- You want a clean, modern mobile-first experience.
- You need SMSF access and want to manage it within the same platform (via Stake Super).
- You trade infrequently in large amounts where $9.50 flat is proportionally cheap.
- You need a joint, trust or company account — Stake doesn’t support these.
- You want Hong Kong market access alongside ASX and US.
- You want detailed desktop portfolio reporting and company research tools.
- You want the community benchmarking feature as supplementary data.
Some investors use Stake for regular ASX or US stock investing — taking advantage of the lower per-trade cost and FX model — while keeping a SelfWealth account for a joint account structure or SMSF that doesn’t fit within Stake Super’s scope. Both are free to open with no minimum deposit.
That said, if your strategy is straightforward — regular ETF purchases or a simple ASX portfolio — pick one and stay with it. Managing two accounts adds friction that compounds against simplicity over time.
Ready to open an account?
Model your trade frequency and FX situation against each fee structure before deciding. Both platforms have no minimum deposit and take under 10 minutes to open — and Stake’s portfolio transfer offer gives you $0 brokerage for 12 months if you switch from an existing broker.
Go deeper
Frequently asked questions
Is Stake better than SelfWealth?
It depends on how you invest. Stake is better for regular ASX traders and investors who want lower per-trade brokerage ($3 vs $9.50), US stock access with FX charged once at funding rather than on each trade, fractional US shares, or SMSF access via Stake Super. SelfWealth suits investors who need a joint, trust or company account — which Stake does not support — or who want Hong Kong market access, or who trade infrequently and prefer no platform at all to manage. Both are ASIC-regulated and CHESS-sponsored on the ASX, so the safety profile is similar.
Are both Stake and SelfWealth CHESS sponsored?
Yes. Both Stake and SelfWealth are CHESS-sponsored brokers for ASX holdings. Your Australian shares are registered directly in your name via the ASX’s CHESS system and assigned your own personal HIN (Holder Identification Number). This means your ownership is verifiable independently of your broker. For US shares, both platforms use DriveWealth as the underlying US custodian — which is standard for Australian brokers offering US market access. Stake’s US holdings are also covered by SIPC protection up to US$500,000 (including US$250,000 for cash).
Which broker has lower fees for ASX trading?
Stake is cheaper at almost every trade size. Stake charges a flat A$3 per ASX trade up to A$30,000, while SelfWealth charges A$9.50 flat regardless of order size. There is no monthly subscription required to access Stake’s $3 rate — it is simply the standard per-trade price. Stake Black is an optional premium membership ($12–$17/month) that adds advanced tools but does not change the per-trade brokerage. For infrequent, very large trades — where $9.50 is proportionally tiny — SelfWealth’s no-platform-to-manage simplicity has its own value.
What is the true FX cost on Stake and SelfWealth?
Both brokers quote FX fees in a way that understates the real cost. Stake advertises 55 bps but charges US$0.55 per A$100 converted — at a 0.65 AUD/USD rate the effective cost is around 0.85%, not 0.55%. SelfWealth advertises 60 bps but charges US$0.60 per A$100, making the effective rate around 0.92% at current exchange rates. The more important difference is when FX applies: Stake charges it once when you fund your USD wallet, after which you can trade US stocks freely without paying FX again. SelfWealth applies conversion on every individual US trade. For investors making multiple US purchases, this means Stake’s total FX cost can be significantly lower even though the effective rate per conversion is similar.
Does Stake offer SMSF accounts?
Yes — through Stake Super, a dedicated product that combines SMSF administration with ASX and US market access within the Stake platform. This is a newer addition to Stake’s offering. SelfWealth also supports SMSF accounts through its standard brokerage interface. If SMSF is your priority, compare both on administration features, ongoing costs and reporting capabilities — not just brokerage fees. For joint, trust and company accounts, SelfWealth remains the only option between the two.
Does Stake or SelfWealth offer fractional shares?
Stake offers fractional shares on US-listed stocks from a minimum of US$10, allowing you to invest in expensive companies like Amazon or Nvidia without committing to a full share price. SelfWealth does not offer fractional shares — you must buy in whole units. For ASX ETF investors this is rarely relevant since ETF units are typically affordable. It matters more for investors building US stock positions with smaller amounts of capital, or who want precise dollar-amount investing rather than whole-unit purchases.
QuantRoutine provides educational content only. Nothing on this page is an offer, solicitation, or recommendation to buy or sell any security or to open an account with any specific broker. Fee figures are based on publicly available information as of April 2026 and may change — always verify current pricing on each broker’s official website before opening an account. FX effective rate calculations are illustrative and based on an approximate AUD/USD exchange rate of 0.65; actual rates fluctuate. Investments can lose value, and past performance does not guarantee future results. You are responsible for your own investment, tax, and legal decisions.