“Classic case of ‘too good to good to be true’ syndrome.
For starters, TERRIBLE SUPPORT. No contact phone number, emails responded to 48 sometimes 72 hours after submitting. Child-like responses from obnoxious support staff, unwilling to stand behind their product nor provide explanations for numerous App and website issues. The overall experience reminiscent of 80’s shower-curtain ring salesman. Planes, trains and automobiles at least had a happy ending, this won’t.
Trading on Stake is basic at best, from depositing funds, executing orders to withdrawals.
Funds do not reach your trading account by the advertised time, and the more costly Express deposit option is absolute nonsense.
When funds do reach the account, you won’t be able to trade immediately unless closing and reopening the app a dozen or so times.
Very poor news, data and chart feeds, no research capabilities, constantly in ‘think’ mode and super unresponsive, all of which is unacceptable by 2019 standards.
‘Limit’ orders do not execute no matter what level the limit is set.
‘Market’ orders process swifltly and without any glitches, proving that Stake is skimming off your trades, and if you’re unaware what this means, look it up.
Though most disappointedly, Stake fails to inform new users about unsettled proceeds from sell orders. These cannot be accessed and are unavailable for trading, meaning new trades cannot be made for 2 business days. It’s an absolute disgrace and potentially a scam, as this is not noted anywhere in their user terms nor FAQ’s.
Fair warning for those looking to trade with Stake, these guys pocket interest on YOUR deposited funds whilst you battle with their cartoon app. My best guess is that Stake won’t survive the winter, if they don’t do a runner with your cash they’ll most likely be forced to close by watchdogs or the ACCC.”
