10 Best Crude Oil Trading
Forex Brokers and Platforms
Crude oil is a naturally occurring, unrefined petroleum product which is composed of hydrocarbon deposits and other organic materials, which can be refined to produce usable products such as gasoline, diesel, and multiple other forms of petrochemicals. Crude oil trading offers investors a multitude of excellent opportunities to profit in nearly all market conditions. This is due to its unique standing within the world’s economic and political systems.
Here is an overview of the 10 Best Crude Oil Trading Forex Brokers and Platforms
FP Markets
FP Markets is a global, online broker which was founded in 2005 and offer Forex trading and has a head office situated in Australia. When starting off with FP Markets traders will need to make a minimum deposit of $100 and a demo account is on offer with a wide variety of instruments and currency pairs on offer. FP Markets is regulated by the Australian Securities and Investment Commission (ASIC).
Over 100 instruments and over 60 currency pairs in total is on offer, on the popular MT4 forex trading platform. FP Markets also offers traders mobile apps for Android and iOS.
Benefits include –
- Allows scalping
- Allows hedging
- Offers STP
- Low min deposit
- Offers Negative Balance Protection
FP Markets Trading Accounts Offered include: Demo, Mini, Standard, ECN, STP, Managed and Islamic and all accounts support a wide range of languages including English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish, Indonesian, Thai, Malay, German, Vietnamese.
AvaTrade
AvaTrade is an excellent partner for all types of trader, be it beginner or pro – with over 200,000 active traders around the globe, on both the MetaTrader 4 and AvaGo platforms. AvaTrade offers great trading conditions across Forex, commodities, cryptocurrencies, ETFs, bonds, and equities and boasting FSCA and ASIC regulations.
Account types:
| Min. Deposit | Max. Leverage | Min. Spread | Commission |
Islamic | USD 100 | 400:1 | 1.3 pips | None |
Professional | USD 100 | 400:1 | 1.3 pips | None |
Retail | USD 100 | 400:1 | 1.3 pips | None |
AvaTrade does not charge their clients for making deposits and withdrawals and the only costs are the bank card, e-wallet, or bank transfer fees. Traders have access to professional customer support, 24 hours a day, five days a week.
HotForex
HotForex offers traders a variety of account types to choose from including fixed and floating spreads, commission-free trading (in Micro, Premium and Fixed accounts) or tighter spreads, involving commission fees. Beginner traders can sign up for Micro accounts with a minimum deposit of as little as $5, and micro lots are available for trade on all accounts.
HotForex is regulated in multiple jurisdictions by the FSCA, CySEC, DFSA, FSA and FCA to name but a few.
An Auto Account, which enables traders to subscribe to free and paid Trading Signals from the MQL5 Community and a HF Social account, which provides trading powered by FxStat is also on offer.
HotForex is a retail forex broker, offering attractive conditions for trading in a wide range of instruments, including Forex, Spot Metals and CFDs on commodities, indices and popular shares such as Google, Apple and Facebook.
EasyMarkets
easyMarkets is an easy to use platform and offers several unique features which is attractive to beginners through its branded trading platform. easyMarkets is pricey and offers only a small selection of tradeable products. easyMarkets is regulated by CySEC.
easyMarkets has an excellent proprietary web-based platform that is easy to use and offers two beginner-friendly features including dealCancellation and Freeze Rate. The easyMarkets line-up includes forex market research tools, 256 tradeable instruments, and a mobile app.
Feature | easyMarkets |
Forex: Spot Trading | Yes |
Currency Pairs (Total Forex pairs) | 62 |
CFDs – Total Offered | 199 |
Social Trading / Copy-Trading | Yes |
Cryptocurrency traded as actual | No |
Cryptocurrency traded as CFD | Yes |
easyMarkets offers two platforms, its own proprietary HTML5 web-based platform and MetaTrader 4 (MT4) and a good customer service experience.
IG
IG is regulated and trusted across the globe and offers traders an extensive list of tradeable products, excellent trading and research tools, industry-leading education, and competitive rates. IG is regulated by the Australian Securities & Investment Commission (ASIC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA), Financial Conduct Authority (FCA), and the Commodity Futures Trading Commission (CFTC).
Feature | IG |
Forex: Spot Trading | Yes |
Currency Pairs (Total Forex pairs) | 93 |
CFDs – Total Offered | 17535 |
Social Trading / Copy-Trading | Yes |
Cryptocurrency traded as actual | No |
Cryptocurrency traded as CFD | Yes |
IG uses its size to provide traders competitive pricing across the board, regardless of the product traders choose to trade, and stands out from the crowd for its active trader pricing available through its Forex Direct accounts.
Platforms and Tools on offer include:
- Flagship platform: IG’s main trading platform is its patented web-based platform.
- Charting: The default charts within the platform feature advanced functionality, such as the ability to add an alert on a specific indicator, with a total of 28 studies available to select.
- Additional platforms:The MetaTrader4 (MT4) platform and its L2 Dealer platform where Forex Direct and Direct Market Access (DMA) are available for share trading.
- ProRealTime charts: More advanced charting with nearly 100 indicators is provided by IG via the ProRealTime premium charting.
IG provides traders with an excellent selection of quality market research and its mobile app competes with the best of the best as the app comes packed with plenty of features that will satisfy both casual and advanced traders.
Forex.com
Forex.com delivers an excellent trading experience for both forex and CFDs traders alike. With competitive pricing, full-feature trading platforms, comprehensive market research, and a robust mobile app, Forex.com caters to traders of all experience levels, from beginner to pro.
Forex.com is regulated by several financial authorities, including the top-tier Financial Conduct Authority (FCA) in the UK and the US Commodity Futures Trading Commission (CFTC). Forex.com has earned Best in Class (top 7) awards for numerous categories in 2020, including Offering of Investments, Commissions & Fees, Education, Professional Trading, Crypto Trading, Ease of Use, and Overall.
Features Include –
Feature | FOREX.com |
Forex: Spot Trading | Yes |
Currency Pairs (Total Forex pairs) | 91 |
CFDs – Total Offered | 4500 |
Social Trading / Copy-Trading | No |
Cryptocurrency traded as actual | No |
Cryptocurrency traded as CFD | Yes |
Forex.com’s pricing structure is competitive and easy to understand, provides forex traders everything they need, and more, to trade effectively through platforms and tools on offer, which include – Advanced Trading, Web Trading and MetaTrader
XTB
XTB is a European broker which was founded in 2002, and has offices in 13 countries across the globe. XTB is regulated in markets across Europe by the IFSC, FCA, KNF, and CySec. XTB is a fintech company which combines financial services with innovative technology and it offers clients two platforms to choose from:
- xStation 5
- MT4
XTB is different from other brokers in three main aspects: its trading platform, their level of educational and analytical materials, and a high level of support. XTB offers free educational material in the form of their online Trading Academy and video tutorials. Traders can choose from 25 crypto CFDs (9 individual coins or 16 crypto pairs) which are available 7 days a week (from 3am Saturday to 9pm Friday). Traders can buy or sell digital coins with 2:1 leverage and 365-day expiry.
Pros | Cons |
Used by 230,000+ traders | Doesn’t offer VPS |
Established in 2002 | Limited range of instruments |
Regulated by Financial Conduct Authority | Not ASIC Regulated |
Min. deposit from $1 |
To open a live account, traders will need a minimum deposit of at least $1.
Benefits include –
Trading Features: | Accounts offered: | Funding methods: |
Allows scalping | Demo account | Credit cards |
Allows hedging | Micro account | Bank Transfer |
Offers STP | Mini account | PayPal |
Low min deposit | Standard account | Skrill |
Guaranteed stop loss | Islamic account | Payoneer |
Offers Negative Balance Protection | Netelle |
XTB support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.
eToro
eToro is a leading social trading platform for trading major financial markets including stocks, forex and cryptocurrencies.
Pros | Cons |
Used by 6,000,000+ traders | Doesn’t allow scalping |
Established in 2006 | Inactivity Fee |
Regulated by Financial Conduct Authority, CySEC, ASIC | Limited range of instruments |
Min. deposit from $200 |
eToro offers over 1,083 different instruments to trade, including over 47 currency pairs.
Benefits include –
Trading Features: | Accounts offered: | Funding methods: |
Offers STP | Demo account | Credit cards |
Low min deposit | Micro account | Bank Transfer |
Mini account | PayPal | |
Standard account | Skrill | |
Islamic account | Payoneer | |
Neteller |
eToro supports a wide range of languages including English, German, Spanish, French, and Italian.
Interactive Brokers
Interactive Brokers had its start in 1978 and is one of the biggest US-based discount brokers regulated by the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the New York Stock Exchange, the Financial Conduct Authority and other regulators and self-regulatory organizations.
Pros | Cons |
Wide range of products | Extremely complex desktop trading platform |
Many great research tools | Complicated account opening process |
Regulated by several authorities | High inactivity fee |
Customer Service is available –
- 24-hour weekday phone line with call-back service
- Online chat with a human agent
- Secure message centre
- AI-powered IBot directs customers to online FAQs and resources
Interactive Brokers provides a wide range of investor education programs provided free of charge and the traders Academy is a structured for financial professionals, investors, educators, and students.
Markets.com
Markets.com is an online broker which founded in 2008 and offers Forex, CFDs and Spread Bets. Spread Bets are only available to UK customers trading and Markets.com is a global broker with a head office situated in Cyprus. Besides for an FCA regulation, Markets.com is authorized and regulated by CySEC, the FSC, ASIC, and the FSCA. New traders will need to make a minimum deposit of $100 and a demo account is available for those who wants to try before they ‘buy’ in.
Traders can trade in a wide variety of instruments and currency pairs
- Over 100 instruments
- Over 80 currency pairs
Markets.com offers both of the MetaTrader platforms; MT4 and MT5. plus, mobile apps for Android and iOS.
Benefits include –
- Allows scalping
- Allows hedging
- Low min deposit
- Guaranteed stop loss
- Offers Negative Balance Protection
Markets.com Trading Accounts on Offer include:
- Demo account
- Mini account
- Standard account
- Islamic account
Markets.com support a wide range of languages including Arabic, Chinese, Dutch, English, French, German, Italian, Japanese, Norwegian, Polish, Romanian, Russian, Spanish, and Turkish.
Crude oil may often be referred to as a single standardized substance, but – there are over 160 types of crude oil traded on the market. Brent Crude and WTI serves as the primary oil benchmarks in the global markets.
Here is an overview of 4 More Noteworthy Crude Oil Trading Brokers and Platforms
FBS
FBS offers traders a choice of four accounts and all accounts offer market execution and the chance to trade in micro lots in Cent accounts for more precise risk management. FBS is regulated and licensed by CySEC.
Account type | Minimum deposit | Minimum trade size | Maximum leverage | Spreads |
Cent | $1 | 0.01 lot | 1:1000 | from 1 pip |
Standard | $100 | 0.01 lot | 1:3000 | from 0.5 pips |
Zero Spread | $500 | 0.01 lot | 1:3000 | 0 pips + $20/lot |
Micro | $5 | 0.01 lot | 1:3000 | fixed, from 3 pips |
ECN | $1000 | 0.1 lot | 1:500 | from -1 pip + $6/lot |
FBS is a popular international broker and offers clients competitive trading conditions, a wide range of trading accounts, payment methods, a choice of fixed and variable spreads, Metatrader 4 and MetaTrader 5, as well as various promotions. An account with FBS can be opened for just $1.
IC Markets
IC Markets is an online broker which was founded in 2007 and offers Forex, CFDs, Spread Betting, Share dealing, and Cryptocurrencies trading on offer both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform developed for traders. IC Markets is authorised and regulated by the Financial Services Authority (FSA) of Seychelles.
IC Markets is a global broker and has a head office situated in Australia and new traders will need a minimum deposit of $200 to get started and a demo account is on offer for those who want to get acquainted with the IC Markets platform. IC Markets are able to accommodate various levels of traders whether they are experienced or just beginning in the trading game.
Traders can trade in a wide variety of instruments and currency pairs –
- Over 232 instruments
- Over 65 currency pairs
IC Markets also offer traders mobile apps for Android and iOS and two accounts types, Standard account and Raw Spread account. IC Markets supports a wide range of languages including English, Japanese, Chinese, Polish, Afrikaans, Danish, Dutch, German and more.
Think Markets
ThinkMarkets is an online broker which was founded in 2010 and offers both Forex and CFDs trading with over 100 instruments and over 40 currency pairs which can be traded on the popular MT4 forex rading platform. ThinkMarkets also offer mobile apps for Android and iOS. ThinkMarkets is authorised and regulated by the Financial Conduct Authority (FCA) and the Australian Investments and Security Commissions (ASIC).
ThinkMarkets is a global broker with a head office based in Australia and a minimum deposit of $250 will be needed to make a start. ThinkMarkets doesn’t charge neither withdrawal or inactivity fees.
Benefits including:
- Allows scalping
- Allows hedging
- Offers STP
- Low min deposit
ThinkMarkets Trading Accounts Include:
- Demo account
- Mini account
- Standard account
- ECN account
- STP account
- Islamic account
ThinkMarkets support a wide range of languages including English, Chinese, and Japanese and has a double AA grade support rating.
City Index
City Index is an online broker which was founded in 1983 and offers Forex, CFDs and Spread Betting trading and traders can trade in over 12,500 instruments and over 100 currency pairs on the popular MT4 forex trading platform. City Index also offer mobile apps for Android and iOS.
City Index is a global broker and has a head office situated in the UK and new traders will need to make a minimum deposit of $25 to make a start. The primary regulator of Gain Capital UK, the owner of City Index, is the Financial Conduct Authority (FCA).
Benefits include –
- Allows hedging
- Offers STP
- Low min deposit
- Guaranteed stop loss
- Offers Negative Balance Protection
City Index Trading Accounts on Offer include:
- Demo account
- Micro account
- Mini account
- Standard account
- STP account
- Managed account
City Index support a wide range of languages including English, Spanish, German, Arabic, Polish, and Chinese and has a triple AAA grade support rating.
Conclusion
Crude oil trading will require an exceptional skill sets in order to profit. Investors looking to trade crude oil futures and derivatives thereof, must first learn what moves the commodity, the long-term price history, and physical variations between the different grades before investing.