ASX – Chess sponsored $3 flat fee

[Nick Radge]

https://hellostake.com/au/pricing/aus

[JulianCohen]

Do you know anything about them? Like who is backing them?

[KateMoloney]

Here is a review. I wonder if they make their money when you buy/sell (from a spread on buy/sell).

Have not found anything yet in their paperwork.

https://brokerchooser.com/broker-reviews/stake-review

[JulianCohen]

Thanks Kate

Yes they’ll be making off the spread, or more likely selling the trades to Citadel..doesn’t matter to me..I get the open when I trade a market order with TD Ameritrade, my fee free broker, and can’t expect anything better so what they do with my order is fine as long as I get the opening price and pay no fees…

[Nick Radge]

Yes, they sell their flow to a market maker.

And when trading the US, I think each trade gets converted back and forth, so the FX clip will add up.

[ScottMcNab]

By chance, I was looking at this just last week. It was the PDS for Airwallex that had me concerned. I believe money is held by Airwallex rather than at a bank ?

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