On a mission to bring Australian traders a better deal on the NYSE, founder and CEO of Stake shares his top tips
Q: Why did you establish Stake?
A: We’re surrounded by so many game-changing US companies – think Amazon, Netflix, Tesla and the like. Australians know these companies better than those on our local bourse, yet we could never access them simply and affordably. What Stake does is break down all those barriers to create the most intuitive trading experience available.
Q: The stock market can be a scary place for a beginner. How should a first-timer ease their nerves?
A: Firstly, every expert was once a novice. We have removed all the unnecessary complexity to place a trade, which makes the entire experience more seamless and intuitive. This makes getting started that much easier and removes a lot of the scary data and unnecessary clutter you see on existing platforms. Whether you’re a seasoned investor who wants better access to the US markets, or someone looking to place a first trade, it’s going to be easier than any other platform you’ve used. Everyone wants easy. The only advice I can give beginners is to start small and get in there. It’s the beginning of a great ride!
Q: What do you see as the top three investments currently?
A: All we have to do is look at the data. Over the past few weeks, with a bit of volatility in the market, we’ve seen an increase in activity of inverse and volatility based ETFs, which allow customers to generate returns when markets fall. There’s always a pretty consistent trend with Australians looking to invest in some of the big tech companies listed in the US, like Amazon, Google, Alibaba and Tesla. Understandably, these are the brands we engage with on a daily basis.
Q: What do you consider to be your greatest achievement to date?
A: Building a great team at Stake and having an exceptional community of users so early. Getting any business off the ground is hard, but we’re not quite patting ourselves on the back yet. Now that we’re up and running, the real work is ahead of us, taking on some of the incumbents and taking our product global.