6 Best Commodity Brokers
Last Update: March 20th, 2024
The 6 best Commodity Trading Brokers revealed. We have explored and tested several prominent brokers to identify the 6 best.
In this in-depth guide you’ll learn:
- What is a commodity trading broker?
- Who are the best brokers?
- Pros and cons of each broker.
- Popular FAQs about the best commodity trading brokers.
And lots more…
Let’s dive right in…
🏆 10 Best Forex Brokers
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker >> |
| 🥈 |  | Read Review | FMA, FSA | USD 50 | Visit Broker >> |
| 🥉 |  | Read Review | FSCA, CySEC, DFSA, FSA, CMA | USD 0 | Visit Broker >> |
| 4 |  | Read Review | SFSA, FSCA, CySec* | USD 5 | Visit Broker >> |
| 5 |  | Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker >> |
| 6 |  | Read Review | FCA, FINMA, FSA, ASIC | USD 0 | Visit Broker >> |
| 7 |  | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker >> |
| 8 |  | Read Review | Not Regulated | 0.001 BTC | Visit Broker >> |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker >> |
| 10 |  | Read Review | CySEC,MISA, FSCA | USD 20 | Visit Broker >> |
What is a commodity broker?
A commodity broker is a financial intermediary who facilitates the buying and selling of various commodities such as agricultural products, precious metals, energy resources, and more on behalf of clients. They provide expertise in market analysis, and risk management, and execute trades on commodity exchanges to meet clients’ investment objectives.
6 Best Commodity Brokers (2024*)
- ☑️AvaTrade – Overall, the Most Popular Commodity Broker
- ☑️eToro – Popular Commodities Broker With Competitive Fees
- ☑️ XTB – Multi-regulated trading broker
- ☑️Axi – Best Online Trading Experience
- ☑️Pepperstone – High User Trust Score
- ☑️IG – Popular Commodities Broker With Competitive Fees
Best Commodity Brokers
| 🔎 Broker | 👉 Open Account | 📊 Commodities | 💰 Minimum Deposit | ⚖️ Regulators |
| AvaTrade | 👉 Open Account | Metals, Energies | $100 | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA |
| eToro | 👉 Open Account | Energies, Metals | $50 | CySEC, FCA |
| XTB | 👉 Open Account | Gold, Silver, Oil | There is no specific minimum deposit required | FCA, ACPR, BaFin, DFSA, KNF, CNMV, FSCA, CySEC, IFSC |
| Axi | 👉 Open Account | Gold, Silver, Metals | No minimum deposit | ASIC, FCA, DFSA |
| Pepperstone | 👉 Open Account | Metals, Energies | $200 | ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB |
| IG | 👉 Open Account | Metals, Natural Gas | $250 | FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA |
6 Best Commodity Brokers
AvaTrade
Overview
AvaTrade is a reputable broker offering a wide range of commodity trading assets, including precious metals like gold and silver, energy resources like crude oil and natural gas, and agricultural products like wheat and corn.
Their platform provides advanced features like leveraged trading, multiple order types, and real-time market analysis tools.
For commodity traders, AvaTrade offers competitive spreads, low transaction fees, and access to global commodity markets through its user-friendly trading platform.
Traders can benefit from flexible leverage options, allowing them to amplify their trading positions while managing risk effectively. AvaTrade also provides comprehensive educational resources and customer support to assist traders in making informed decisions.
Overall, AvaTrade is a preferred choice for commodity traders seeking a reliable and feature-rich platform to access diverse commodity markets with competitive trading conditions and robust support services. Top of Form
Unique Features
| Feature | Information |
| ⚖️ Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA |
| 💻 Account Types | Retail Account, Professional Account |
| 💵 Minimum Spread | From 0.0 pips |
| 💸 Minimum Deposit | $100 |
| 📱 Platforms Supported | AvaTradeGO AvaOptions AvaSocial MetaTrader 4 MetaTrader 5 DupliTrade ZuluTrade |
| 📈 Range of Markets | Forex Stocks Commodities Cryptocurrencies Treasuries Bonds Indices Exchange-Traded Funds (ETFs) Options Contracts for Difference (CFDs) Precious Metals |
| 📊 Demo Account | Yes |
| ✴️ Social Trading Offered | Instagram YouTube |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| AvaTrade provides a unique risk management tool called AvaProtect, which allows traders to protect their trades against adverse market movements for a certain period of time, providing peace of mind. | AvaTrade's spreads may be slightly larger than those of other brokers, thereby raising investors' trading costs. |
| AvaTrade offers a wide selection of financial assets, including FX, equities, commodities, cryptocurrencies, and more, with numerous trading opportunities. | AvaTrade's teaching resources may be less thorough than those of certain competitors, slowing down the learning curve for new traders. |
| AvaTrade provides a user-friendly mobile trading program called AvaTradeGO that allows traders to access trading tools, market analysis, and real-time updates while on the go, increasing their flexibility. | AvaTrade levies inactivity fees on accounts that have been dormant for a lengthy period of time, which may harm traders who trade seldom. |
| The AvaTrade platform provides copy trading, which allows traders to mechanically reproduce experienced investors' trades, facilitating passive investment methods. | While AvaTrade allows cryptocurrency trading, the number of cryptocurrencies available for trade may be limited when compared to dedicated cryptocurrency exchanges. |
| AvaTrade provides AvaSocial, a social trading platform that allows traders to engage, share trading ideas, and follow successful traders, encouraging a collaborative trading environment. | AvaTrade's platform customization options may be limited in comparison to those of other brokers, which may limit flexibility for sophisticated traders who seek more configurable trading environments. |
eToro
Overview
eToro is a prominent broker renowned for its social trading platform, offering a variety of commodity trading assets including precious metals like gold and silver, energy resources such as oil and natural gas, and agricultural products like coffee and soybeans.
With eToro, commodity traders can benefit from innovative features like CopyTrading, which allows them to replicate the trades of successful investors in real-time.
Additionally, eToro offers a user-friendly interface, advanced charting tools, and comprehensive market analysis to help traders make informed decisions.
For commodity traders, eToro provides a seamless trading experience with competitive spreads, low fees, and access to global commodity markets 24/5.
Traders can leverage eToro’s social trading network to interact with fellow traders, share insights, and stay updated on market trends.
Overall, eToro offers a compelling platform for commodity traders seeking a combination of cutting-edge technology, diverse assets, and a supportive trading community.
Unique Features
| Feature | Information |
| ⚖️ Regulation | CySEC, FCA |
| 💻 Account Types | Personal Account Professional Account Corporate Account Islamic Account |
| 💵 Minimum Spread | From 0.9 pips |
| 💸 Minimum Deposit | $50 |
| 📱 Platforms Supported | eToro proprietary platform |
| 📈 Range of Markets | Stocks. Indices. ETFs. Currencies. Commodities. Cryptoassets. |
| 📊 Demo Account | Yes |
| ✴️ Social Trading Offered | Facebook YouTube Telegram |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Using eToro's cutting-edge social trading platform, new investors may quickly learn from expert traders and even improve their own strategies by observing and replicating successful investors' transactions. | eToro provides basic research tools such as news updates and market analysis, but it may have fewer resources than other platforms, restricting skilled traders' ability to undertake in-depth examinations. |
| eToro provides a diverse choice of trading instruments, allowing users to diversify their portfolios on a single platform by choosing among stocks, cryptocurrencies, commodities, and currency pairs. | eToro's cost structure includes spreads and overnight fees that may be greater than those offered by other brokers. |
| eToro's user-friendly interface and uncomplicated platform make it suitable for traders of all skill levels, including beginners. | In addition, withdrawal and inactivity fees may apply in some cases. |
| The platform's research capabilities and strong charting features improve trading even further. | Compared to traditional trading platforms, social trading gives traders less control over their trades, while it can have some benefits. Users may rely substantially on the decisions of other traders, resulting in either profits or losses. |
| CopyPortfolios are several investment portfolios that are professionally maintained and easily available on eToro. This technology enables users to invest in an asset portfolio with a single click, simplifying portfolio management and saving time. | Because eToro is subject to numerous national restrictions, a user's location may restrict access to certain features and products. Changes in rules or compliance standards may affect the platform's operations and products. |
XTB
Overview
XTB is a leading broker offering a wide range of commodity trading assets, including precious metals like gold and silver, energy resources such as oil and natural gas, and agricultural products like corn and wheat.
Their platform boasts advanced features like xStation, providing traders with powerful charting tools, technical analysis capabilities, and customizable trading interfaces.
For commodity traders, XTB offers competitive spreads, transparent pricing, and access to global commodity markets with low latency execution.
Traders can take advantage of flexible leverage options and risk management tools to optimize their trading strategies.
XTB also provides comprehensive educational resources, market research, and expert analysis to help traders stay informed and make profitable trading decisions.
Overall, XTB is a preferred choice for commodity traders seeking a reliable and feature-rich platform with a wide range of commodity assets, advanced trading tools, and excellent customer support.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FCA, ACPR, BaFin, DFSA, KNF, CNMV, FSCA, CySEC, IFSC |
| 💻 Account Types | Standard Account Swap-free Account Islamic Account Professional Account |
| 💵 Minimum Spread | From 0.5 pips |
| 💸 Minimum Deposit | There is no specific minimum deposit required |
| 📱 Platforms Supported | xStation 5 xStation Mobile |
| 📈 Range of Markets | Forex Indices Commodities Stock CFDs ETF CFDs Cryptocurrencies |
| 📊 Demo Account | Yes |
| ✴️ Social Trading Offered | Facebook YouTube |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| XTB, noted for its technological innovation, provides a user-friendly platform with excellent charting capabilities and extensive market research. | Because the pricing structure contains several costs that traders may find puzzling, such as spreads and overnight funding, it must be thoroughly examined. |
| The broker is committed to openness and offers traders fair and straightforward pricing. | Despite the easy design, some traders may experience a learning curve, particularly when using more advanced features and tools. |
| XTB provides a diverse selection of financial products, including indices, commodities, and primary and exotic currency pairs, to give traders more options. | Due to XTB’s lack of global physical offices, providing face-to-face help to traders in need may become more difficult. |
| Support tailored specifically to the needs of dealers allows for successful communication and support in their own language. | |
| XTB offers traders tools and market knowledge to help them become more competent and talented traders, with a focus on education. |
Axi
Overview
Axi is a reputable broker renowned for its extensive offering of commodity trading assets, encompassing precious metals like gold and silver, energy resources such as crude oil and natural gas, and agricultural products like wheat and soybeans.
Their platform provides advanced trading features including MetaTrader 4 and MetaTrader 5, offering traders access to robust charting tools, technical indicators, and algorithmic trading capabilities.
For commodity traders, Axi offers competitive spreads, low commissions, and lightning-fast execution, ensuring optimal trading conditions.
Traders can benefit from flexible leverage options and risk management tools to enhance their trading strategies while minimizing potential losses.
Axi also provides comprehensive market analysis, educational resources, and personalized support to help commodity traders navigate the markets successfully.
Overall, Axi is a preferred choice for commodity traders seeking a reliable broker with a diverse range of commodity assets, advanced trading technology, and superior customer service.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC, FCA, DFSA |
| 💻 Account Types | Live Trading Account Demo Account |
| 💵 Minimum Spread | From 0.5 pips |
| 💸 Minimum Deposit | No minimum deposit |
| 📱 Platforms Supported | MetaTrader 4 Axi Trading Platform Copy Trading Platform |
| 📈 Range of Markets | Forex Shares IPOs Indices Commodities Cryptocurrencies |
| 📊 Demo Account | Yes |
| ✴️ Social Trading Offered | Instagram YouTube |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Axi has a good reputation as a reputable and honest Forex broker, which has helped to create confidence among traders. | While Axi offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, some traders may want to trade on other platforms. |
| Axi is overseen by reputable financial agencies such as the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA), ensuring strict regulatory compliance. | Although Axi offers basic research capabilities, some traders may find the research services unsatisfactory in comparison to other brokers. |
| Axi offers a variety of trading products, including currencies, commodities, indices, and cryptocurrencies, allowing traders to diversify their portfolios. | |
| Axi provides comprehensive training resources, like as webinars, tutorials, and market research tools, to enable traders of all skill levels enhance their trading abilities and knowledge. | |
| Axi offers responsive customer care across a range of channels, including live chat, email, and phone support, ensuring that traders receive timely assistance when needed. |
Pepperstone
Overview
Pepperstone, catering specifically to commodity traders, offers a distinctive set of features tailored to optimize trading experiences.
Traders enjoy industry-leading competitive spreads, coupled with low commissions and lightning-fast execution, guaranteeing an environment conducive to efficient trading.
Pepperstone provides flexible leverage options and cutting-edge risk management tools, empowering traders to refine their strategies while effectively managing risk exposure.
Moreover, Pepperstone distinguishes itself by delivering comprehensive market analysis, empowering traders with real-time insights and strategic guidance.
Commodity traders also benefit from Pepperstone’s extensive educational resources, including webinars, tutorials, and market research materials, fostering continuous learning and skill development.
Additionally, Pepperstone offers personalized support, ensuring that traders receive tailored assistance and guidance tailored to their unique trading goals and preferences.
In summary, Pepperstone emerges as the premier choice for commodity traders seeking a brokerage that not only offers a diverse range of commodities but also prioritizes competitive pricing, advanced trading tools, educational resources, and dedicated customer support.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB |
| 💻 Account Types | Standard Account Razor Account Professional Account Demo Account Islamic Account |
| 💵 Minimum Spread | From 0.0 pips |
| 💸 Minimum Deposit | AU$200 |
| 📱 Platforms Supported | MetaTrader 4 MetaTrader 5 cTrader TradingView Myfxbook Duplitrade |
| 📈 Range of Markets | rex Indices Shares Commodities Cryptocurrencies Futures Options |
| 📊 Demo Account | Yes |
| ✴️ Social Trading Offered | LinkedIn YouTube |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Pepperstone is known for offering some of the most competitive spreads in the industry, making it cost-effective for traders. | While Pepperstone offers a variety of forex pairs and CFDs, its range of tradable assets in other markets like stocks and cryptocurrencies may be comparatively limited. |
| Pepperstone provides access to advanced trading platforms like MetaTrader 4 and MetaTrader 5, as well as cTrader, empowering traders with cutting-edge tools and features. | Some users have reported occasional delays or difficulties in reaching Pepperstone's customer support team, particularly during peak trading hours. |
| The broker charges low commissions on trades, which can significantly reduce trading costs for traders. | Pepperstone may not be available to traders in certain regions due to regulatory restrictions, limiting accessibility for some potential users. |
| Pepperstone's trading infrastructure ensures rapid execution speeds, minimizing slippage and enhancing trade efficiency. | While Pepperstone offers competitive spreads overall, spreads can occasionally widen during times of market volatility, impacting trading costs. |
| Pepperstone offers an extensive range of educational resources, including webinars, tutorials, and market analysis, helping traders improve their skills and stay informed. | While Pepperstone provides some market analysis tools, traders may find the research offerings less extensive compared to some other brokers. |
IG Group
Overview
IG Group is a renowned broker offering a wide range of commodity trading assets, including precious metals like gold and silver, energy resources such as oil and natural gas, and agricultural products like corn and wheat.
With IG, traders benefit from competitive spreads, ensuring cost-effective trading across various commodity markets. The platform provides advanced commodity trading features, including access to over 17,000 markets, comprehensive charting tools, and risk management options.
IG’s customer support is available 24/5, offering personalized assistance to traders worldwide. They offer multiple trading platforms, including the user-friendly IG Trading platform and the powerful MetaTrader 4 platform.
Additionally, IG provides extensive educational resources, including webinars, tutorials, and market analysis, enabling traders to enhance their trading skills and make informed decisions.
Overall, IG Group stands out as a reliable choice for commodity traders seeking diverse assets, competitive spreads, robust trading features, excellent customer support, and comprehensive educational resources.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA |
| 💻 Account Types | IG Trading Account Limited Risk Account Islamic Account (Dubai traders only) Demo Account |
| 💵 Minimum Spread | From 0.0 pips |
| 💸 Minimum Deposit | $250 |
| 📱 Platforms Supported | MetaTrader 4 IG Platform ProRealTime (PRT) L2 Dealer FIX API |
| 📈 Range of Markets | Forex Indices Shares Commodities Cryptocurrencies Futures Options |
| 📊 Demo Account | Yes |
| ✴️ Social Trading Offered | LinkedIn YouTube |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| IG Group offers access to over 17,000 markets, including a diverse selection of commodity trading assets, providing traders with ample opportunities for diversification. | Some traders may find IG Group's minimum deposit requirement relatively high compared to other brokers, potentially limiting accessibility for novice traders. |
| The broker provides competitive spreads across various markets, ensuring cost-effective trading for clients. | IG Group charges inactivity fees for dormant accounts, which could be a concern for traders who do not frequently engage in trading activities. |
| IG Group offers reliable 24/5 customer support, assisting traders with prompt and personalized service whenever needed. | While IG Group offers competitive spreads, some traders may find its fee structure complex, with additional charges for certain services and features. |
| IG provides extensive educational resources, including webinars, tutorials, and market analysis, empowering traders with knowledge and insights to make informed trading decisions. | Despite offering a wide range of markets, IG Group's selection of cryptocurrencies for trading may be relatively limited compared to specialized cryptocurrency brokers. |
| Pepperstone offers an extensive range of educational resources, including webinars, tutorials, and market analysis, helping traders improve their skills and stay informed. | Depending on the region, traders may encounter regulatory restrictions or limitations when trading with IG Group, affecting their access to certain markets or services. |
Conclusion
Overall, in selecting the best commodity trading brokers, traders must prioritize factors such as asset variety, competitive spreads, advanced trading tools, reliable customer support, and comprehensive educational resources. By carefully assessing these criteria, traders can make informed decisions to optimize their trading experiences and achieve their financial goals effectively.
Frequently Asked Questions
What is a commodity trading broker?
A commodity trading broker is a financial intermediary that facilitates the buying and selling of commodities such as gold, oil, and agricultural products on behalf of traders. They provide access to commodity markets and execute trades on behalf of clients.
What factors should I consider when choosing a commodity trading broker?
Important factors to consider include the range of commodity assets offered, trading fees and commissions, trading platforms and technology, customer support availability, and educational resources provided by the broker.
What are the different types of commodity trading brokers?
Commodity trading brokers can be categorized as full-service brokers, offering personalized advice and a wide range of services, or discount brokers, which provide basic execution services at lower fees. Online brokers are also common, offering trading platforms for independent traders.
What are commodity trading spreads?
Commodity trading spreads refer to the difference between the buying and selling prices of a commodity. Brokers may offer fixed or variable spreads, which can impact trading costs. Tighter spreads indicate lower trading costs, while wider spreads may result in higher costs.
How can I manage risk when trading commodities through a broker?
Risk management is crucial in commodity trading. Traders can use tools such as stop-loss orders to limit potential losses, diversify their commodity investments to spread risk, and employ proper position sizing techniques. Additionally, staying informed about market trends and using technical analysis can aid in risk mitigation.
Top 4 Brokers
