Wall St share ownership

When you purchase shares through Stake, you own the shares. However, the way share ownership works in the U.S. is a little different compared to Australian equities: most brokers and investing platforms (including Stake) operate on a custodian model. 

The custodian ownership model means that your shares are held on your behalf by a trusted custodian. Our U.S. broker-dealer, DriveWealth, manages the books and records nominating your shares as being in your name, and appoint a custodian (Royal Bank of Canada) to hold your shares for you. When you invest with Stake, your funds go directly to DriveWealth via our regulated FX partner, Airwallex. Find more information about Stake’s partners here.