Stake Black: Is It Worth It?
Stake Black is Stake's premium subscription — $20/month for the combined plan, or $17/month billed annually. It promises a lower FX rate, market depth, analyst ratings, and priority support. Here's whether those features are worth it for different types of Australian investors.
Key takeaways
- ·Stake Black costs $20/month (combined plan) or $17/month billed annually — the free standard account has the same $3 brokerage fees.
- ·The main financial benefit is a reduced FX conversion rate below the standard 0.55% on AUD/USD deposits.
- ·Stake Black does NOT reduce the US$3 brokerage fee or the A$3 ASX brokerage — those are the same on both plans.
- ·Break-even depends entirely on your deposit volume — high-volume investors converting large AUD amounts benefit most.
- ·Market depth, analyst ratings, and priority support are the non-fee features — useful for active traders, less so for passive investors.
- ·Start with the free Stake account (code jaymem884 for free stock + $10) and upgrade to Black only if your deposit volume justifies it.
Quick verdict
Skip Black if…
You invest passively, make infrequent deposits, or are just getting started. The free Stake account gives you the same brokerage rates — Black's FX saving only matters at meaningful deposit volumes. Use code jaymem884 at sign-up for a free stock + $10.
Consider Black if…
You convert A$50,000+ per year in AUD deposits, actively trade using market depth data, or want analyst ratings integrated into your workflow. Run your own break-even calculation using the table below before subscribing.
Stake Black pricing
Stake Black comes in three configurations. The "combined" plan is the most popular and unlocks all features across both the AUS and Wall Street products.
| Plan | Monthly | Annual (per month) | Annual saving |
|---|---|---|---|
| Standard (free) | $0 | $0 | — |
| Black — AUS only | $14 | $12 | $24/yr |
| Black — Wall Street only | $14 | $12 | $24/yr |
| Black — Combined | $20 | $17 | $36/yr |
Prices current as of August 2026. Verify at hellostake.com/au/pricing before subscribing — Stake can change pricing at any time.
What you actually get
Reduced FX conversion rate
Wall Street / CombinedKey savingThe main financial benefit — a lower rate on AUD-to-USD conversions than the standard 0.55%. The exact Black rate is disclosed on the Stake pricing page. The more AUD you convert each year, the greater the saving.
Market depth (Level 2 data)
AUS / CombinedFeature upgradeSee all buy and sell orders queued at every price level on the ASX orderbook, not just the best bid and offer. Useful for active traders timing entries and exits — less relevant for buy-and-hold investors.
Course of sales
AUS / CombinedFeature upgradeLive time & sales feed showing every individual transaction as it executes. Used by active traders to read momentum and detect large block trades. Not needed for passive ETF or long-term investing.
Analyst ratings
Wall Street / AUS / CombinedFeature upgradeAccess to buy/hold/sell ratings and price targets from equity analysts on US and ASX stocks. A useful input but not a replacement for your own research — analyst consensus is widely available on free tools like TradingView.
Priority support
Wall Street / AUS / CombinedFeature upgradeFaster response times from Stake's support team. Useful if you have time-sensitive account issues. Most routine queries are handled adequately through standard support channels.
The break-even calculation
The only meaningful cost saving in Stake Black is the reduced FX rate on AUD-to-USD conversions. The standard Stake rate is 0.55%. Stake Black reduces this — the exact Black rate is shown on your Stake app pricing page and may vary.
The table below shows your annual FX saving at different deposit volumes depending on the FX rate reduction you get. Compare your expected saving column against the annual plan cost ($144/year for a single-market plan or $204/year for the combined plan) to work out if Black pays for itself.
Formula
Annual FX saving = Total annual AUD deposits × FX rate reduction
Example: A$82,000/yr deposits × 0.25% FX saving = A$205/yr saved → breaks even on the combined Black plan ($204/yr annual billing). The break-even deposit is approximately A$80,000–$82,000 at a 0.25% FX saving.
| Annual AUD deposits | 0.25% FX saving | 0.30% FX saving | 0.35% FX saving |
|---|---|---|---|
| A$20,000 | A$50 | A$60 | A$70 |
| A$40,000 | A$100 | A$120 | A$140 |
| A$60,000 | A$150 | A$180 | A$210 |
| A$80,000 | A$200 | A$240 | A$280 |
| A$100,000 | A$250 | A$300 | A$350 |
| A$150,000 | A$375 | A$450 | A$525 |
Assumes FX saving of 0.25–0.35% below the standard 0.55% rate. Verify the exact Stake Black FX rate in the app — it determines your actual break-even point. Table shows AUD converted to USD only; ASX trades have no FX cost at either plan level.
Who should and shouldn't upgrade
Good fit for Stake Black
High-volume US investors
If you're depositing A$60,000–$100,000+ per year in USD, the FX saving alone can justify the subscription.
Active ASX traders
Market depth (Level 2 data) and course of sales are meaningful tools for traders who time entries on ASX stocks.
Investors wanting integrated research
Analyst ratings inside the Stake app add convenience, especially for US stock investors doing fundamental checks.
Those needing priority support
If your portfolio size makes account access delays costly, faster support response is worth paying for.
Poor fit for Stake Black
New or beginner investors
Start with the free account. The referral bonus (code jaymem884) offsets early costs. Upgrade when you outgrow the standard plan.
Passive ETF investors
If you're buying VTI or VGS monthly and holding, you don't need market depth or analyst ratings — the free account is more than enough.
ASX-only investors
If you don't convert AUD to USD, the main financial saving doesn't apply. Market depth may still be useful, but at $14/month it's expensive for data available elsewhere.
Infrequent depositors
Small or irregular deposits mean small FX savings — the subscription cost will almost certainly exceed what you save on FX.
Our verdict
Stake Black is a well-designed premium tier, but it's only worth the money for a specific type of investor: one who converts meaningful AUD volumes to USD each year and whose FX savings exceed the subscription cost.
For most Australian investors — especially those starting out, investing passively in ETFs, or making irregular deposits — the free Stake account is the better choice. You get the same US$3 brokerage, the same A$3 ASX brokerage, and CHESS-sponsored holdings. The only thing you're missing is the FX discount and the research add-ons.
The right order of operations: start with the free account, track how much AUD you actually convert each year, then run the break-even calculation above before committing to Black. You can upgrade — and downgrade — at any time from within the app.
New users get a free US stock (Nike, GoPro, or Dropbox) plus $10 trading credit when signing up with code jaymem884. That's exclusive to the free plan sign-up — the referral bonus doesn't change based on whether you later upgrade to Black.
Not financial advice. Verify current Stake Black pricing and FX rates at hellostake.com/au/pricing before subscribing.
Frequently asked questions
Stake Black has two variants: single-market (AUS only or Wall Street only) at $14/month or $12/month billed annually, and combined (both AUS and Wall Street) at $20/month or $17/month billed annually. Verify current pricing at hellostake.com/au/pricing before subscribing.