10 Best Forex Brokers and Trading
Platforms for Commodities Trading

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Commodity trading refers to the buying and selling of a large range of instruments including oil, gas, gold and sugar through the use of future contracts.

There are four main categories that define the commodity market:

  • Agricultural Commodities: Raw goods – including sugar, cotton, coffee beans and more.
  • Energy Commodities: Including petrol products like oil and gas.
  • Metal Commodities: Referring to precious metals such as gold, silver and platinum plus base metals like copper.
  • Livestock Commodities: This includes live cattle, general livestock and meat commodities.

Traders  will also encounter terms like hard and soft commodities. Hard commodities refer to those that are mined (gold, oil, etc.) whilst soft commodities refer to agricultural or animals (wheat, soybeans, pork, sugar, etc.).

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Here is an overview of the 10 Best Forex Brokers and Trading Platforms for Commodities trading

FP Markets

FP Markets

FP Markets have been building their reputation since 2005 and have proven that traders’ expectations of reliability and safety will not be disappointed.  Giving traders a careful balance between product choices and attractive pricing models, FP Markets is an attractive broker choice for expert and novice traders alike.  Customer registration is a short and sweet process and users will have access to a mobile and web platform.  Tech support will assist clients during office hours and are available through email, live chat and telephone.  FP Markets is regulated by the Australian Securities and Investment Commission (ASIC).

 

Pros

Cons

Good customer support

Few products offered

Effortless registration

Certain withdrawal options carry costs

Inactivity won’t attract penalties

Underdeveloped web platform

Fees and commissions

Features

Prices

Minimum Initial deposit to start trading

$100

Average spread EUR/USD – active

N/A

Average spread EUR/USD – standard

1.19

VIP or active trader discounts

N/A

AvaTrade

AvaTrade

AvaTrade is facilitating more than two million trades a month to over 200 000 users worldwide. Avatrade have been providing trading platforms to traders since 2006.  AvaTrade sets a high priority on providing great educational material for all its online users and includes effective educational videos and tutorials.  You may find that the research tools are current enough to be very useful.

Customer registration is a breeze and you will enjoy an effortless trading experience.  AvaTrade also provides great tech support for any technical issues that you may have. Users are encouraged to use the live chat feature for best results.  AvaTrade is licensed as a regulated broker in the EU, Japan, Australia, South Africa and the British Virgin Islands.

Pros

Cons

Registration process is quick

Research tools are not always relevant

Withdrawals and deposits carry no fees

Support telephone service is not great

Good educational tools

Few products

Fees and commissions

Features

Prices

Minimum Initial deposit to start trading

$100

Average spread EUR/USD – active

0.62

Average spread EUR/USD – standard

0.92

VIP or active trader discounts

Yes

Forex Time (FXTM)

FXTM

FXTM have been working on their presence in the Forex market since 2011.  FXTM is regulated by several financial authorities, including the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). Being an established service provider with a team of more than 700 staff members and two million customers, FXTM are sure to impress any Forex enthusiast.  FXTM take in pride in their ability to make the transition into the Forex world an easy and comfortable experience. There are numerous educational and research tools available but is most likely more suited to the novice trader.  Registering your account will be effortless and will give users access to an impressive mobile platform and a comparably average web platform.  Tech support is fantastic but resolving issues will need to be kept during working hours as FXTM does not offer 24-hour customer support. 

Pros

Cons

Great customer service

Fees for withdrawals are expensive

Effortless registration

Inactivity will attract penalties

Education material is useful

Few products offered

Fees and commissions

Features

Prices

Minimum Initial deposit to start trading

$100

Average spread EUR/USD – active

1.0

Average spread EUR/USD – standard

0.8

VIP or active trader discounts

Yes

XM Group

XM Group

Being the most recent winner of the COLWMA (City of Wealth Management Awards) award, XM have more than three million customers and are definitely one of the leading brokers on the Forex market.  XM offers an amazing variety of market analysis, educational and lecture content for the novice trader. Customers can expect an enjoyable trading experience available on web and mobile platforms. Both platforms incorporate all the necessary functionality with the mobile platform edging ahead in design.  User registration is effortless and painless, and users can expect timeous response from tech support who sometimes need more than one attempt to resolve the issues.  XM is authorised and regulated in 3 countries: Australia (ASIC), Cyprus (CySec) and the United Kingdom (FCA).

Pros

Cons

Easy registration

European customers have less products choices

Free withdrawals and lows fees on CFD instruments

Forex fees may seem expensive

Variety of educational resources

Inactivity comes with penalties

Fees and commissions

Features

Prices

Minimum Initial deposit to start trading

$5-$100

Average spread EUR/USD – active

0.8

Average spread EUR/USD – standard

1.6

VIP or active trader discounts

No

alpari

Alpari

Alpari International (Alpari), have been providing brokerage service in locations around the globe and have established a prominent presence for themselves in the market.  Alpari is  regulated and licensed by the Financial Services Commission of Mauritius.  With an adequate number of products on offer, both the novice and the experienced trader will have attractive options to choose from.  Experienced traders can take advantage of the Strategy Manager role where they can offer trading strategies to other traders and receive a share of their profits.  Great product offerings and exceptional customer service make Alpari a sure win for any trader.

Pros

Cons

Diverse product offering

Research tools are lacking

Strategy Manager opportunity

Educational material would be nice

Fees and commissions

Features

Prices

Minimum Initial deposit to start trading

$100

Average spread EUR/USD – active

0.82

Average spread EUR/USD – standard

0.92

VIP or active trader discounts

Yes

Go Markets

Whether you’re an expert or novice trader, GO Markets offers great features which trader can test using the demo account that is available after completing the simple registration process.  Traders will have access to great web and mobile platforms and comparatively lower Forex fees on completed trades. Customer tech support is available through social media, web, email and telephone and the service is responsive and effective.  GO Markets is licensed by the Australia Securities and Investment Commission (ASIC).

ProsCons
Lower fees on trading accountsTwo account types per trader
Good tech supportInactivity will attract penalties after 3 months

Fees and commissions

FeaturesPrices
Minimum Initial deposit to start trading$200
Average spread EUR/USD – activeN/A
Average spread EUR/USD – standard1.2
VIP or active trader discounts 

 

IG

It may sound cliché for businesses to say “the customer comes first” but it has been the overarching philosophy that has enabled IG to provide an amazing experience to traders.  The fantastic web platform will prove to be a great experience to both novice and expert traders and is equipped with great educational and research tools.  Apart from a lengthy confirmation process, creating an account is quite easy. Customer service is a pleasant experience and is best when accessed through email.  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).

Pros

Cons

Great web platform

Limitations on product scope

Educational tools are good

Phone needs improvement

Comparatively lower trading fees

N/A

Fees and commissions

Features

Prices

Minimum Initial deposit to start trading

£250

Average spread EUR/USD – active

0.36

Average spread EUR/USD – standard

0.7

VIP or active trader discounts

Yes

Saxo Bank

Saxo Bank (Saxo) were incorporated in 1998 and have been winning awards ever since. Being one of the pioneers of the online trading platform, Saxo have given traders confidence that their paradigm of the Forex world is one that works.  The registration process has a long lead time due to the confirmation process. The great platform experience may be enough to help new traders digest the high minimum deposit.  Education and research tools are great but key data is only available at a premium. Customer support is available during work hours and is excellent on email and telephone.  Saxo Bank is regulated by several financial authorities, like the Danish Financial Services Agency (FSA), the Financial Conduct Authority (FCA) and the Swiss Federal Banking Commission, among others.

Pros

Cons

Pleasant platform experience

Minimum deposit is excessive

Good research material

24/7 support would be good

Good products on offer

N/A

Fees and commissions

Features

Prices

Minimum Initial deposit to start trading

$10 000

Average spread EUR/USD – active

0.6

Average spread EUR/USD – standard

0.6

VIP or active trader discounts

Yes



xtb best broker

XTB

XTB was established in 2002 and have earned a trusted reputation.  Signing on as a user is quick and easy and novice traders will find tons of value in the research and educational tools that are available.  The client support service is quick to respond and provides relevant answers but email support does need some improvement.  XTB is regulated in markets across Europe by the IFSC, FCA, KNF, and CySec.

Pros

Cons

Forex fees are low

Average email support

Withdrawals and deposits are effortless

Limited products on offer

Easy sign up

N/A

 Fees and commissions

Features

Prices

Minimum Initial deposit to start trading

$0

Average spread EUR/USD – active

0.78

Average spread EUR/USD – standard

0.78

VIP or active trader discounts

Yes

easyMarkets

EasyMarkets

Operating since 2001, easyMarkets most attractive feature is their proprietary trading platform and appeals to beginner traders.  easyMarkets also offers educational and research tools, but traders will most likely discover a few limitations.  The portfolio of available products is slightly limited, but client care is effective and could be more timeous.  easyMarkets is regulated by CySEC.

Pros

Cons

No commissions

Trading accounts need more options

Affordable Forex and trading fees

N/A

Trustworthy withdrawal process

N/A

Fees and commissions

Features

Prices

Minimum Initial deposit to start trading

$100

Average spread EUR/USD – active

0.9

Average spread EUR/USD – standard

0.9

VIP or active trader discounts

Yes

When choosing a broker with which to start commodities trading, there are a number of factors and questions a trader needs to keep in mind, including:

  • Ensure that the broker is regulated by a reputable financial authority.
  • Enquire which markets are available to trade.
  • Which Trading platform is on offer?
  • What is the cost of trading?
  • What is the quality of their Customer support?

Here is an Overview of 5 more noteworthy Forex Brokers and Trading Platforms for Commodities trading.

eToro best brokers

eToro

eToro has millions of registered users and has been trading since 2007. With a keen focus on innovation, eToro always challenges the norm and keep expanding their already impressive list of products and trading tools.  Registering as a user is straightforward and the exceptional mobile and web platforms make for an amicable trading experience. The educational and research tools are not extensive and users should not overestimate the capabilities.  Apart from the lack of 24/7 support, customer support is excellent.  eToro is supervised by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC).

Pros

Cons

Free stock and ETF trading for European traders

One base currency per account

Easy registration

Forex fees are expensive

Amicable trading experience

Complicated withdrawal process

Fees and commissions

Features

Prices

Minimum Initial deposit to start trading

$200

Average spread EUR/USD – active

N/A

Average spread EUR/USD – standard

3

VIP or active trader discounts

Yes

CMC_Markets_logo

CMC Markets

CMC markets give customers a great selection of research tools and well-designed user platforms.

User registration is elementary but users will need to be patient with the confirmation process. The mobile and web trading platforms give trader a great experience.  The client support service is limited to working hours and is fantastic. User can log support calls using email, telephone and live chat.  CMC Markets is authorised and regulated by the Financial Conduct Authority in the UK (FCA) which means we must comply with FCA client assets regulation, known as CASS.

ProsCons
Many products to choose fromWithdrawals take long to process
Great trading platformSupport response could be faster
Educational tools are usefulN/A

Fees and commissions

FeaturesPrices
Minimum Initial deposit to start trading$0
Average spread EUR/USD – active0.81
Average spread EUR/USD – standard0.81
VIP or active trader discountsYes
oanda best broker

OANDA

Having been in operation for more than twenty years, Oanda is a trusted name in the Forex world.

Apart from the lengthy confirmation process, user registration is easy enough. Users will also benefit from the vast resources available for research and education.  Client support needs to be more specific with its responses but the response times are good.

OANDA is the Most Regulated Forex Broker and operate across six of the most credible authorities including:

  • Australia AISC (Australian Securities and Investments Commission)
  • United States CFTD (Commodity Futures Trading Commission)
  • Europe and UK FCA – (Financial Conduct Authority)
  • Japan IFFA (Institute Financial Futures Association)
  • Singapore MAS (Monetary Authority Of Singapore)
  • Canada IIROC (Investment Industry Regulatory Organization of Canada)

Pros

Cons

Low trading fees

Withdrawals are costly

Easy registration

Client support needs improvement

Web platform is fantastic

N/A

Fees and commissions

Features

Prices

Minimum Initial deposit to start trading

$0

Average spread EUR/USD – active

1.4

Average spread EUR/USD – standard

1.4

VIP or active trader discounts

Yes

pepperstone best broker

Pepperstone

Pepperstone has been providing brokerage services to prospective traders since 2010. With premium features and great platforms, traders can expect a great trading experience.  User registration is straightforward and painless and Pepperstone provide some decent research and educational material.  User support is a great experience which works through phone, live chat and email.  Pepperstone trades in accordance with the regulatory principles set down by the European Securities and Markets Authority and the Financial Conduct Authority.

Pros

Cons

Forex fees are low

Traders have few product options

Customer service is good

Research materials are narrow focused

Transactions are easy and free

N/A

Fees and commissions

Features

Prices

Minimum Initial deposit to start trading

$200

Average spread EUR/USD – active

0.86

Average spread EUR/USD – standard

1.13

VIP or active trader discounts

Yes

FXCM

FXCM

FXCM comes highly recommended by beginner traders because of the extensive research and education tools that they offer.  Registering as an FXCM user is simple enough but has a lengthy confirmation process. Mobile and web platforms are both available to users and are average at best.

Customers can expect great support from the help-desk but only during working hours.  FXCM is regulated by top-tier financial authorities like the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

Pros

Cons

Research tools are good

Limited products on offer

Numerous educational tools

Platforms need development

User creation is easy

N/A

Fees and commissions

Features

Prices

Minimum Initial deposit to start trading

£300

Average spread EUR/USD – active

0.70

Average spread EUR/USD – standard

1.30

VIP or active trader discounts

Yes

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Conclusion

The Commodity Market is available to both novice and experienced traders but are known to be a risky investment and those looking to invest need to do their due diligence before making a final choice of Broker.

EXNESS is this month's #1 Broker