Stake to offer $3 ASX CHESS brokerage

I've had a few beers so bear with me.

Your comment has been repeated many times after the last few years. "You guys better lower your price or else!"

It's better discussed over a podcast or something but it's more than price. We've been around the block. We're still here. The platform is simple, reliable, dependable. I know that, our customers know that. We're transparent, we're publicly traded, we're regulated more than others. We can't say things like Stake or Superhero do, which we know are straight lies. We'd get taken to the cleaners. They know this.

Stakes $3 not being a loss leader? It's a loss leader by a long shot. How do they make money? They don't have to tell you. They're a private business. We aren't. Finclear don't have to either. Stake are making a biiiig bet on ASX trading being an acquisition tool, that's it. They're also relying on price being the only thing you ladies and gents care about. We know that's patently not true.

Live pricing and instant deposits are things we've wanted to do for years but we've now got the people to do it with and we delivered both in a few weeks. What can we do with six months? Five years? We've got ambitions and we want to take you with us.

/rant

/r/AusFinance Thread Parent Link - afr.com