Tiger Global-backed startup brings $2 brokerage to Australia

Investing.com | Sep 12, 2021 at 10:01 PM
  • Stakeshop Pty Ltd, an online stock broker backed by tech investment giant Tiger Global.
  • The launch is a direct challenge to No. 1 lender Commonwealth Bank of Australia (OTC:CMWAY)’s subsidiary CommSec, the country’s largest online and mobile broker, and other large competitors that have dominated the local market for years.
  • Operating as Stake since 2017, the company is known among a growing number of investors in Australia and New Zealand primarily as a commission-free retail broker for U.S.-listed stocks.