Money Hack: Buy shares in major US brands and pay $0 brokerage
You could buy shares in Apple, Tesla, Amazon or Facebook without paying any brokerage fees.
Looking at the success of major tech stocks like Facebook, Amazon, Netflix and Google over the past few years, it's not hard to see why so many Australian investors are looking to invest in US stocks. In August this year Apple became the world's first company to achieve a market capitilisation of one trillion dollars. ONE TRILLION DOLLARS! Just imagine if you'd bought some shares ten years ago.
Apple isn't the only US stock making headlines. Movie streaming service Netflix has seen its share price tripple over the past three years, as has online retail giant Amazon. The problem is, these companies have always been much harder and more expensive for Australians to access. With a traditional online broker you could be paying as much as USD$29.95 in brokerage each time you place a trade on the NASDAQ.
There's another option for getting your hands on some tasty US stocks without paying an arm and a leg in brokerage fees.
A new app launched in Australia a few months ago which allows Australians to buy shares in some of the world's biggest and most exciting brands without paying any brokerage fees. That's right, brokerage is $0. The app is called Stake, and it allows Australians to easily access the $30 trillion US share market in a few clicks in the app.
- Download the Stake app from the Apple App store. The Stake app is currently only available on iOS, but anyone can sign up and use the platform on desktop.
- Fund your account. You'll need to fund your account to convert your AUD into USD, so it's ready to go when you want to place a trade.
- Browse the 3,000 US stocks and ETFs available. There's a bunch of useful filtering tools to help you locate stocks, such as "most traded" and "most popular" as well as options to sort by industry. Happy shopping!
Finder Money Hacks is a weekly round-up of the latest tips and tricks to improve your finances. Check back every Saturday for new hacks.