Is the Stake app legitimate and safe to use?

Yes, the Stake app is a legitimate and safe platform for users interested in trading stocks and ETFs. It operates by providing its customers with access to US stock markets, offering commission-free trading which is attractive to many investors. Stake takes security seriously, employing industry-standard measures such as encryption and two-factor authentication to protect user accounts and personal data. Moreover, Stake Financial Pty Ltd is regulated by the Australian Securities and Investments Commission (ASIC), and client funds are held in a segregated account, which provides an additional layer of safety. Additionally, securities in customer accounts are protected up to $500,000 by the Securities Investor Protection Corporation (SIPC) in the event that the broker fails. Overall, these factors contribute to Stake's reputation as a reliable and trustworthy option for those looking to invest in the financial markets.