In order to trade successfully, it is very important to choose the right broker. in Australia, a large number of companies provide access to trading and you will have to choose the one for you among them. It is important to work only with reliable brokers providing all the required instruments for trading based on your trading strategy. TU analysts have selected the best otc stock brokers for beginners in Australia 2025. You can compare their features and trading conditions.
1
Interactive Brokers - Best for beginners in Australia
Interactive Brokers is among the best-known global online brokers. Based in the US, it has been operating since 1977. Interactive Brokers allows clients to trade products from 160 exchanges including stocks, option, currencies, bonds, funds and more from a single unified platform. The company is regulated by the US Securities and Exchange Commission (SEC), the US Financial Industry Regulatory Authority (FINRA), the UK Financial Regulatory Authority (FCA, 208159), and other international financial regulation commissions. Interactive Brokers has earned recognition as a top broker, garnering multiple awards and accolades from respected industry sources such as Barron's, Investopedia, Stockbrokers.com,and many others. Also, the broker is popular in other countries. Here you can read reviews of Interactive Brokers in Canada, Singapore, Australia, Hong Kong, Ireland.
👍 Advantages of trading with Interactive Brokers for traders from Australia:
•extensive and free educational resources through the IBKR Campus;
•access to160markets in 36 countries and territories;
•trading in stocks, options, futures, currencies, bonds, funds and more from a single unified platform.
👎 Disadvantages of Interactive Brokers for traders from Australia:
•Support service does not work on Saturday;
2
Fidelity - Best for beginners in Australia
Fidelity Investments is a large American financial services company. It was founded in 1946 by American businessman and lawyer Edward Crosby Johnson II. It provides services to traders in trading securities and commodity assets and allows investors to invest in mutual funds and investment funds, form portfolios for a variety of instruments, including bonds and annuities with fixed income. The company has received several awards: according to Barron's, Investors Business Daily, Kiplinger, and Stock Brokers. Fidelity Investments is recognized as the best online broker of 2020.
👍 Advantages of trading with Fidelity for traders from Australia:
•availability of its own trading terminal for active trading, Active Trader Pro, with advanced analytics from experts and a wide range of technical analysis tools;
•no brokerage fee for consulting services with an account balance of up to $10,000, and only $3 if a larger deposit is made;
•there is the possibility of individual planning for investors, while the cost of the service is 0.5% of the size of the deposit for each month of use.
👎 Disadvantages of Fidelity for traders from Australia:
•lack of localization;
•there are no active bonus programs; nor is there an opportunity to receive additional profit for attracting new customers;
•margin trading is possible if the account balance exceeds 250 thousand dollars;
•the demo account is limited in functionality and involves working only with investment portfolios.
3
Robinhood - Best for beginners in Australia
Robinhood is an investment platform founded in April 2013. The platform offers commission-free trading of stocks, exchange-traded funds (ETFs), options, and cryptocurrencies. Robinhood is regulated by the Financial Industry Regulatory Authority (FINRA) in the U.S. and the Financial Conduct Authority (FCA) in the U.K. It is also a member of the Securities Investor Protection Corporation (SIPC) and the Federal Deposit Insurance Corporation (FDIC). With an intuitive interface, the platform simplifies access to financial markets, allowing clients to start investing with as little as $1. Robinhood has continuously expanded its offerings since its launch, recently adding features such as credit cards and a dedicated educational section for beginner investors.
👍 Advantages of trading with Robinhood for traders from Australia:
•No commission trading.
•Access to trading stocks, ETFs, options, futures, and cryptocurrencies.
•User-friendly platform.
•Fractional share trading.
•Educational resources for beginner investors.
•Availability of a mobile app.
•Provision of analytical data.
👎 Disadvantages of Robinhood for traders from Australia:
•Limited selection of cryptocurrencies.
•No access to international markets.
•Limited advanced technical analysis tools.
4
CITIC Securities - Best for beginners in Australia
CITIC Securities is the largest Chinese investment holding company, which has been providing brokerage services on Forex transactions, asset management, social, financial, and retirement planning since 1995. Its activities are regulated by the China Securities Regulatory Commission (CSRC) and the Central Bank of China. CITIC Securities is also a member of the SIPF — China Securities Investor Protection Fund. The broker and its partner subsidiaries have won over 100 awards for excellent banking and brokerage services.
👍 Advantages of trading with CITIC Securities for traders from Australia:
•No requirements for the size of the minimum deposit. The clients can fund the account with any amount that is enough to buy the asset of their choice and pay the trading commission.
•This broker works strictly within the law. Only products and services approved by the government regulators are available to its customers.
•Favorable terms of trade and financial settlements. The company offers low trading fees, and free deposits and withdrawals.
•Wide range of terminals. Investors can trade from any device (mobile or desktop), including a web terminal.
•A huge variety of investment decisions. Clients can transfer capital to trust, receive passive income on pension accounts, and activate algorithmic trading.
•Free provision of professional tools for market research, fundamental analysis, news, and market data in real-time.
•Fast and fully digital account opening within 1 business day.
👎 Disadvantages of CITIC Securities for traders from Australia:
•The company only works with clients from China and Hong Kong.
•It offers a limited selection of assets — only local Chinese market securities.
•It does not provide bonuses and rewards for partners.
5
SogoTrade - Best for beginners in Australia
SogoTrade is a US registered broker that has been operating since 1986. It offers a wide range of stock market assets, proprietary trading platforms with built-in analytics, and forecasting tools. The broker is a member of FINRA (CRD#: 17912/SEC#: 8-35930) and SIPC, and has offices in New York and Chesterfield (Missouri). The company's regional service center also serves customers from China, Taiwan, and Hong Kong. In 2020, the financial portal GOBankingRates named SogoTrade as the best online broker for day trading and for novice traders.
👍 Advantages of trading with SogoTrade for traders from Australia:
•FINRA and SIPC membership.
•A variety of investment products for generating passive income, including diversified portfolios of securities with different levels of risk and reward.
•The minimum deposit for the Cash Account starts at $0.
•A wide range of analytical tools such as stocks and options, screeners, P&L calculators, daily newsletters, third-party analyst ratings, reviews, and more.
•The existence of a proprietary platform for online options trading.
👎 Disadvantages of SogoTrade for traders from Australia:
•The broker withholds $2.88 for market trades in stocks, as well as a commission for each contract when trading options.
•There are no cash bonuses for opening an account or making a deposit.
•The minimum investment for working with investment portfolios is $25,000.
Commissions & Fees
Brokerage fees are the amount of money that you pay for using the services that a brokerage offers in order to perform trading and manage investments. The brokerage fee structure and regulations vary from broker to broker, and there are two primary fee types which are:
Trading Fees: This type of fee is only charged when you perform a trade. It can be a conversion fee, margin rate, financing rate, spread, or commission.
Non-Trading Fees: This type of fee isn't directly related to your trading activity, and it can include inactivity fee, withdrawal fee, deposit fee, etcetera.
Interactive Brokers Commissions and Fees
Traders Union analysts have verified Interactive Brokers for hidden fees and assessed the commission level in the company. You can withdraw funds for free once a month; if you withdraw funds more often, you’ll have to pay a fee, the amount of which varies depending on the base currency of the account and the payment system.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Real |
From $2 |
Depending on the currency and withdrawal method |
Fidelity Commissions and Fees
The size of commissions for this broker varies depending on the traded instrument and for all types of accounts, ranging from 0 to 0.03% from every $1000 of turnover, plus $0.65 for each option contract. When trading medium-term and long-term US government bonds, a brokerage fee of $19.95 to $250 is charged for the entire volume of the trade. For Treasury securities maturing within a year, the commission is a maximum of $50.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Traditional IRA |
From $2 |
No |
|
Rollover IRA |
From $2 |
No |
|
ROTH IRA |
From $2 |
No |
|
Brokerage Account |
From $2 |
No |
|
Brokerage and fund management |
From $2 |
No |
|
Account «529» |
From $2 |
No |
|
Fidelity Go |
From $2 |
No |
|
Fidelity personalized management and consulting |
From $2 |
No |
Robinhood Commissions and Fees
Robinhood clients can trade U.S.-listed stocks (including ETFs), options, and over-the-counter securities commission-free. Fees for transferring funds vary based on the method: for instant bank transfers and card deposits, there's a 1.75% fee (minimum $1, maximum $150), while outgoing bank transfers incur a $25 fee. The broker does not charge any commissions on cryptocurrency trades. Futures contracts have fees ranging from $0.50 to $0.75 per contract, depending on the account type.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Margin account |
$0 |
Yes |
|
Cash account |
$0 |
Yes |
|
Crypto account |
$0 |
Yes |
CITIC Securities Commissions and Fees
Analysis of the CITIC Securities conditions shows that the size of the trading commission depends on the class of the asset. For China’s Class A shares, mutual funds, bonds, and ETFs, the company charges 0.03% of the transaction value from clients (minimum CNY 5), for China’s B-shares, it is 0.03% of the transaction value (minimum USD 1/HKD 5). The commission for Hong Kong shares is slightly higher at 0.08-0.12% of the transaction value, but not less than 100 HKD. The broker does not charge non-trading fees for account maintenance, inactivity, deposits, or withdrawals. However, the trader has to pay a 40-yuan commission to open a trading account. Also, CITIC Securities clients have to pay currency conversion fees. So, Class A shares are quoted only in CNY, so if the account is opened in dollars (USA or Hong Kong), then the broker charges a commission for the exchange. Similar commission calculations apply to Class B shares, which can be quoted not only in CNY but also in HKD.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Stock trading account |
from $1 |
No |
SogoTrade Commissions and Fees
The Traders Union analysts have examined the trading conditions of SogoTrade for explicit and implicit fees. Fees for shares and ETFs: for limit orders and qualified limit orders for an odd lot is $0; and for market orders and unqualified orders for odd lots, it is $2.88. Options commission: $0, contract fee - 50 cents. Brokerage commission: for stocks, ETFs and mutual funds - $25; and finally, for options - $25 + $0.5 for each contract. SogoTrade does not charge a fee for opening an account and making a deposit but withholds a fee for withdrawing funds by bank transfer and cheque by mail.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Cash Account |
From $25 |
Yes |
|
Margin Account |
From $25 |
Yes |
Summary
Many brokers are available for traders from Australia, but not all of them offer good conditions. In this review, TU experts chose the Best otc stock brokers for beginners in Australia 2025. These are the most trusted companies that offer the best conditions for traders. You will also be able to review the general assessment of each broker.
Overall score of the best OTC Stock Brokers For Beginners in Australia
| Interactive Brokers | Fidelity | Robinhood | CITIC Securities | SogoTrade | |
|---|---|---|---|---|---|
|
Overall score |
7.45 |
7.27 |
6.85 |
4.69 |
6.37 |
|
Execution of orders |
8.8 |
8.4 |
7.9 |
5.34 |
7.34 |
|
Investment instruments |
9.4 |
9 |
8.5 |
5.76 |
7.76 |
|
Withdrawal speed |
9.2 |
8.8 |
8.3 |
5.4 |
7.4 |
|
Customer Support work |
9 |
8.6 |
8.1 |
5.7 |
7.7 |
|
Variety of instruments |
8.7 |
8.3 |
7.8 |
5.18 |
7.18 |
|
Trading platform |
9.5 |
9.1 |
8.6 |
5.92 |
7.92 |
|
|
|||||
|
|
|
FAQ
Does the choice of a beginner differ from the choice of an experienced trader?
Yes. A novice trader should primarily consider the availability of educational tools and a demo account, as well as basic assets. A more experienced trader is interested in wider opportunities on advanced account types, a wider choice of instruments for technical analysis, and a greater number of trading instruments.
What are the risks of trading in the financial markets?
Any trading in the financial markets carries risks of losing your money due to asset volatility. Therefore, it is important to develop the rules of risk management in your strategy and strictly follow them.
What factors are important when you are choosing a broker?
When you are choosing a broker, it is important to make sure it is a reliable company, consider its fees, the list of trading instruments, deposit and withdrawal methods and other factors. It is important to study a broker in detail, before opening an account with it.
Can you earn passive income in the financial markets?
Yes, the best brokers in Australia offer passive income options. These could include copy trading, PAMM accounts, managed portfolios, etc.
Best OTC Stock Brokers For Beginners by Countries
Related Articles
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.