10 Best Oil Trading Platforms
The 10 Best Oil Trading Platforms revealed. In the fast-paced world of commodity trade, oil remains a cornerstone, impacting global economies and investment plans.
Recognizing the importance of choosing the appropriate platform for trading oil, we have researched several platforms to provide you with the Top 10 Forex Brokers for Oil Trading.
In this in-depth guide, you’ll learn:
- What is the Importance of Oil in the Global Market?
- The 10 Best Oil Trading Platforms.
- How Can I Get Started in Oil Trading?
- Our Conclusion on The 10 Best Oil Trading Platforms.
- Popular FAQs about The 10 Best Oil Trading Platforms.
- Can I trade oil on my phone?
And lots more…
So, if you’re ready to go “all in” with The 10 Best Oil Trading Platforms…
Let’s dive right in…
| 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 the Importance of Oil in the Global Market?
Oil is critical in the global market beyond just energy supplies. It serves as the lifeblood of modern economies and significantly impacts geopolitical dynamics and financial markets.
Due to its commodity status, changes in oil prices reflect overall economic conditions that can affect inflation rates, currency values, and investment strategies.
Trading commodities is all about profiting from price fluctuations. Oil being affected by supply-demand shifts, politics, and technological advancements makes it even more complicated for traders to manage successfully.
Nevertheless, unlike other commodities’ limited use cases, transportation industries rely considerably upon industrial fuel, making it an instrumental asset with major influence across diversified portfolios.
Best Oil Trading Platforms – Comparison
| 👥 Brokers | 🚀 Open Account | 📈 Maximum Leverage on Commodities | ⚖️ Regulation | ✴️ Demo Duration |
| 1. eToro | Open Account | 1:10 | CySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, SIPC | Unlimited |
| 2. IC Markets | Open Account | 1:1000 | ASIC, CySEC, FSA, SCB | Unlimited, but will close after 30 days of inactivity |
| 3. AvaTrade | Open Account | 1:200 | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC | 21 days |
| 4. FP Markets | Open Account | 1:200 | ASIC, CySEC, FSCA, FSA, FSC | 30 days if it becomes inactive |
| 5. HFM | Open Account | 1:200 | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA | Unlimited |
| 6. Exness | Open Account | Unlimited | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, CMA | 21-days |
| 7. BDSwiss | Open Account | 1:200 | CySEC, FSC, BaFIN, FSA | 30 days |
| 8. Pepperstone | Open Account | 1:200 | ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB | 30 days if a live account is not registered |
| 9. Tickmill | Open Account | 1:10 (FCA, CySEC), 1:100 (FSA, LFSA, FSCA, DFSA) | Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA, DFSA | Unlimited |
| 10. FXTM | Open Account | 1:25 | CySEC, FSCA, FCA, CMA, FSC Mauritius | 30 days |
10 Best Oil Trading Platforms (2024*)
- ☑️eToro – Overall Best Oil Trading Platform
- ☑️IC Markets – Offers a Diverse Range of Trading Accounts
- ☑️AvaTrade – Offers a Range of Investment Options
- ☑️FP Markets – Offering a User-friendly Platform for Beginners
- ☑️HFM – Top AutoCharist Broker
- ☑️Exness – Best Forex Broker for Beginner Traders
- ☑️BDSwiss – Provides Educational Oil Resources
- ☑️Pepperstone – Offers a Wide selection of instruments
- ☑️Tickmill – Authorized By Several Reputable Market Regulators
- ☑️FXTM – Provides Additional Incentives for Investors
1. eToro
eToro is a social trading platform that enables traders to share strategies and insights on crude oil trades. It focuses on WTI oil, offering spot and futures contracts for profiting from commodity fluctuations.
The platform offers competitive spreads and a 10:1 leverage, making it attractive for traders seeking favourable trading conditions. However, it might not appeal to those who prefer conventional or analytical methods due to its emphasis on social prowess over individual methodologies.
Unique Features
📝 Regulation CySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, SIPC ☪️ Islamic Account Yes 🔎 Demo Account Yes ✴️ Non-expiring Demo Yes ✔️ Demo Duration Unlimited 📈 Maximum Leverage on Commodities 1:10 🔁 Minimum Trade Size 0.01 lots 💳 Maximum Trade Size Depends on the instrument and account balance 🎖 Open an Account Open Account
Conditions
⚖️ Instrument 📈 Spread 💸 Commission 🎉 Margin 🚫 Stop Level 📊 Long Swap 📊 Short Swap Oil 5 pips - 10% - Variable Variable Crude Oil Future 5 pips - 10% - Variable Variable Gasoline 80 Pips - 10% - Variable Variable Brent Oil 6 pips - 10% - Variable Variable
Pros and Cons
✔️ Pros ❌ Cons Traders can easily share insights and strategies via eToro’s social platform eToro focuses more on social trading than in-depth analysis Traders can use leverage up to 1:10 with eToro when trading energies eToro has variable swap rates that could influence long-term strategies eToro is heavily regulated, ensuring a safe trading environment Spreads on gasoline are wider than that of competitors There is a demo account available
2. IC Markets
The broker allows traders to trade oil using spot and future commodities CFD products, offering various options.
IC Markets’ ultra-low spreads that start from 0.02 pips for futures trading and 0.03 pips for spot trading offer an attractive option for traders who want more affordable entry points into the oil market.
The platform also provides regulatory-specific leverage options, up to 10:1 margin requirement, compliant with ASIC and CySEC regulations. It caters globally, offering maximum potential leverage ratios up to 1000:1 for international clients.
Unique Features
📝 Regulation ASIC, CySEC, FSA, SCB ☪️ Islamic Account Yes 🔎 Demo Account Yes ✴️ Non-expiring Demo Yes, if it remains active ✔️ Demo Duration Unlimited, but will close after 30 days of inactivity 📈 Maximum Leverage on Commodities 1:1000 🔁 Minimum Trade Size 0.01 lots 💳 Maximum Trade Size 2000 🎖 Open an Account Open Account
Conditions
⚖️ Instrument 📈 Spread 💸 Commission 🎉 Margin 🚫 Stop Level 📊 Long Swap 📊 Short Swap Brent Futures 0.02 pips From $3.50 1% - 10% 50% Variable Variable Brent Spot 0.03 pips From $3.50 1% - 10% 50% Variable Variable WTI Futures 0.02 pips From $3.50 1% - 10% 50% Variable Variable WTI Crude Spot 0.03 pips From $3.50 1% - 10% 50% Variable Variable
Pros and Cons
✔️ Pros ❌ Cons IC Markets has some of the tightest spreads on energies Commissions apply to all energy CFDs Traders can use leverage up to 1:1000 in some regions The platform and IC Markets’ offer might be confusing and intimidating to beginners IC Markets is well-regulated by strict entities There is a high stop level, which is risky Traders can use powerful trading software to participate in oil trading
3. AvaTrade
AvaTrade is a dependable platform for traders interested in trading energy product CFDs. It offers various oil instruments such as CrudeOIL and Brent_OIL, making it an ideal choice for retail traders who want to get started in the oil markets with leverage of up to 200:1.
The user-friendly experience offered by AvaTrade further draws traders towards AvaTrade through its copy trading support and compatibility with major platforms.
However, traders must always practice caution when deploying high leverage due to underlying risks. Boasting accessibility, diversity, and leveraging options, AvaTrades’ extensive portfolio makes it desirable among seasoned and aspiring traders alike.
Unique Features
📝 Regulation Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC ☪️ Islamic Account Yes 🔎 Demo Account Yes ✴️ Non-expiring Demo No ✔️ Demo Duration 21 days 📈 Maximum Leverage on Commodities 1:200 🔁 Minimum Trade Size 0.01 lots 💳 Maximum Trade Size Unlimited 🎖 Open an Account Open Account
Conditions
⚖️ Instrument 📈 Spread 💸 Commission 🎉 Margin 🚫 Stop Level 📊 Long Swap 📊 Short Swap Crude Oil $0.03 None 1% - -0.0259% -0.0006% Brent Oil $0.01 None 1% - -0.0259% -0.0006% Heating Oil $0.0015 None 2% - -0.0259% -0.0006% Gasoline $0.0015 None 2% - -0.0259% -0.0006%
Pros and Cons
✔️ Pros ❌ Cons Traders can get leverage of up to 1:200 on energies Inactivity fees apply, which could be problematic for long-term investors There are diverse energy instruments available There are leverage risks involved AvaTrade offers several risk management tools The spreads on oil can be higher than that of competitors AvaTrade’s platforms are user-friendly
4. FP Markets
FP Markets is a platform for oil traders, offering spot and futures contracts with competitive spreads starting at 0.03 pips for WTI oil.
Furthermore, FP Markets offers up to 200:1 leverage and adheres to CySEC and ASIC regulations. However, despite offering competitive pricing and multiple leverage options, it is crucial to implement cautious risk management strategies due to the significant leveraging offered.
Unique Features
📝 Regulation ASIC, CySEC, FSCA, FSA, FSC ☪️ Islamic Account Yes 🔎 Demo Account Yes ✴️ Non-expiring Demo Yes, if the demo account remains active ✔️ Demo Duration 30 days if it becomes inactive 📈 Maximum Leverage on Commodities 1:200 🔁 Minimum Trade Size 0.01 lots 💳 Maximum Trade Size 50 lots 🎖 Open an Account Open Account
Conditions
⚖️ Instrument 📈 Spread 💸 Commission 🎉 Margin 🚫 Stop Level 📊 Long Swap 📊 Short Swap WTI 0.03 pips - 0.1% 50% -20% -20% XBR/USD 0.04 pips - 0.1% 50% -20% -20% XTI/USD 0.03 pips - 0.1% 50% -20% -20%
Pros and Cons
✔️ Pros ❌ Cons FP Markets’ spreads on energies are competitive High leverage leads to the risk of investment loss regardless of negative balance protection Traders can leverage their positions up to 1:200 FP Markets offers a transparent fee schedule Several regulatory entities oversee FP Markets
5. HFM
HFM offers a wide range of tradable assets, including energy commodities like UK Brent Oil and US crude oil, with tailored trading options and low margins. Its fast transaction processing capabilities make it an ideal choice for those trading in the energy sector.
The broker’s versatility and top-notch charting tools make it a top trader choice. However, it caters more to seasoned investors who want to enhance portfolio diversity through prior experience.
Unique Features
📝 Regulation FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA ☪️ Islamic Account Yes 🔎 Demo Account Yes ✴️ Non-expiring Demo Yes ✔️ Demo Duration Unlimited 📈 Maximum Leverage on Commodities 1:200 🔁 Minimum Trade Size 0.01 lots 💳 Maximum Trade Size 60 lots 🎖 Open an Account Open Account
Conditions
⚖️ Instrument 📈 Spread 💸 Commission 🎉 Margin 🚫 Stop Level 📊 Long Swap 📊 Short Swap UKOIL 0.04 pips - 1.5% - 0 pips -0.77 pips USOIL 0.09 pips - 1.5% - 0 pips 0.35 pips
Pros and Cons
✔️ Pros ❌ Cons HFM processes transactions quickly, which is advantageous in a volatile Spreads can widen significantly during volatile periods There are versatile trading options offered HFM offers some of the best charting tools for oil trading Traders can use leverage of up to 1:200 on energies
6. Exness
By incorporating oil assets into its CFDs, Exness has profoundly impacted the Forex market. Furthermore, with low fees and swift order execution and withdrawals, Exness strives for operational efficiency.
Essential energy products are readily available to traders who can opt for swap-free options with Exness’ oil contracts. Yet, traders must beware of fluctuations in trading costs because of Exness’ variable spreads and diverse stop-level values.
Unique Features
📝 Regulation FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, CMA ☪️ Islamic Account Yes 🔎 Demo Account Yes ✴️ Non-expiring Demo No ✔️ Demo Duration 21-days 📈 Maximum Leverage on Commodities Unlimited 🔁 Minimum Trade Size 0.01 lots 💳 Maximum Trade Size Unlimited 🎖 Open an Account Open Account
Conditions
⚖️ Instrument 📈 Spread 💸 Commission 🎉 Margin 🚫 Stop Level 📊 Long Swap 📊 Short Swap UKOIL 5.8 pips $3.5 0.5% 0 pips 0.0 pips -3.04 pips USOIL 1 pip $3.5 0.5% 0 pips 0.0 pips -2.25 pips XNG/USD 18.6 pips $3.5 5% 0 pips -6.22 pips 0 pips
Pros and Cons
✔️ Pros ❌ Cons Exness is known for its low and competitive fees Fluctuations in spreads can affect profitability There is swift order execution on energy trades The demo account expires after 21 days Traders can expect instant deposits and withdrawals Exness offers swap-free trading Exness is well-regulated
7. BDSwiss
BDSwiss provides a complete trading environment with access to hundreds of top CFDs, concentrating on energy trading.
The platform’s compliance with several regulations and safe trading circumstances creates a trustworthy trading environment. BDSwiss’ trading conditions, including floating spreads and prolonged swap-free options for oil instruments, appeal to the broad trading community.
Unique Features
📝 Regulation CySEC, FSC, BaFIN, FSA ☪️ Islamic Account Yes 🔎 Demo Account Yes ✴️ Non-expiring Demo No ✔️ Demo Duration 30 days 📈 Maximum Leverage on Commodities 1:200 🔁 Minimum Trade Size 0.01 lots 💳 Maximum Trade Size 50 lots 🎖 Open an Account Open Account
Conditions
⚖️ Instrument 📈 Spread 💸 Commission 🎉 Margin 🚫 Stop Level 📊 Long Swap 📊 Short Swap Brent 0.12 pips 6 USD 0.5% - -13.4 pips 0.122 pips USOIL 0.015 pips 6 USD 0.5% - -15 pips 0.015 pips
Pros and Cons
✔️ Pros ❌ Cons BDSwiss is well-regulated globally Leverage can still cause loss of capital despite negative balance protection There are advanced trading platforms offered for energy trading BDSwiss offers comprehensive educational materials There are competitive spreads charged on energy instruments
8. Pepperstone
Pepperstone provides various trading platforms that appeal to different trading styles without requiring users to use a proprietary interface. The platform’s strategy offers access to a diverse range of trading products, including oil, with no fees applied to oil trading.
In addition, Pepperstone’s high fill rate and top-tier liquidity ensure that commodities deals are executed efficiently. Overall, Pepperstone is great for traders seeking flexibility, rapid execution, and diverse trading products, including oil.
Unique Features
📝 Regulation ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB ☪️ Islamic Account Yes 🔎 Demo Account Yes ✴️ Non-expiring Demo No, only if you have a funded live account ✔️ Demo Duration 30 days if a live account is not registered 📈 Maximum Leverage on Commodities 1:200 🔁 Minimum Trade Size 0.01 lots 💳 Maximum Trade Size 100 lots 🎖 Open an Account Open Account
Conditions
⚖️ Instrument 📈 Spread 💸 Commission 🎉 Margin 🚫 Stop Level 📊 Long Swap 📊 Short Swap Spot Crude 2.5 pips - 10% - Variable Variable Spot Brent 2.5 pips - 10% - Variable Variable Gasoline 8 pips - 10% - Variable Variable
Pros and Cons
✔️ Pros ❌ Cons Traders can minimize costs due to the lack of commission fees on energies The demo account is only unlimited after live account registration and verification There is a high fill rate, and Pepperstone is renowned for its liquidity Leverage can lead to substantial losses regardless of negative balance protection Pepperstone offers competitive trading conditions Pepperstone is a well-regulated broker
9. Tickmill
They are a broker that offers a user-friendly platform for oil, offering precision and flexibility. Their platform is designed for traders of all proficiency levels and includes commodities like oil and various CFDs like Forex options, equities, and indices.
Tickmill’s commitment to narrow spreads and high leverage ratios sets them apart from other brokers. Furthermore, they provide seamless transactions on MT4 and MT5 platforms, equipped with cutting-edge performance metrics for real-time data insights.
Unique Features
📝 Regulation Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA, DFSA ☪️ Islamic Account Yes 🔎 Demo Account Yes ✴️ Non-expiring Demo Yes ✔️ Demo Duration Unlimited 📈 Maximum Leverage on Commodities 1:10 (FCA, CySEC), 1:100 (FSA, LFSA, FSCA, DFSA) 🔁 Minimum Trade Size 0.01 lots 💳 Maximum Trade Size 100 lots 🎖 Open an Account Open Account
Conditions
⚖️ Instrument 📈 Spread 💸 Commission 🎉 Margin 🚫 Stop Level 📊 Long Swap 📊 Short Swap Brent 0.04 pips - - - 2.31 pips -3.75 pips XTI/USD 0.04 pips - - - 0.15 pips -1.35 pips
Pros and Cons
✔️ Pros ❌ Cons Tickmill offers a user-friendly trading platform for energy trading Tickmill’s platform might have a steep learning curve for beginners Tickmill’s spreads on energies are competitive Tickmill is well-regulated and offers a safe trading environment Tickmill ensures seamless transactions on MetaTrader 4 and 5
10. FXTM
ForexTime is a global trading platform specializing in crude and Brent oil. It offers traders a range of leverage options, from 1:500 for smaller trades on oil instruments to 1:25 for larger volumes.
Furthermore, the platform also provides access to popular commodities like Brent and WTI crude oil as CFD Spot products, offering competitive spreads starting as low as 3 pips. FXTM‘s approach to oil aims to provide a comprehensive and cost-efficient trading environment.
Unique Features
📝 Regulation CySEC, FSCA, FCA, CMA, FSC Mauritius ☪️ Islamic Account Yes 🔎 Demo Account Yes ✴️ Non-expiring Demo No ✔️ Demo Duration 30 days 📈 Maximum Leverage on Commodities 1:25 🔁 Minimum Trade Size 0.01 lots 💳 Maximum Trade Size 100 lots 🎖 Open an Account Open Account
Conditions
⚖️ Instrument 📈 Spread 💸 Commission 🎉 Margin 🚫 Stop Level 📊 Long Swap 📊 Short Swap Brent 3 pips From $0.40 0.2% 40%/50% -7.9 pips 1.14 pips Crude 3 pips From $0.40 0.2% 40%/50% -4 pips -2.7 pips
Pros and Cons
✔️ Pros ❌ Cons FXTM is a reputable broker with competitive trading conditions The demo account is only active for 30 days Traders can expect competitive commission fees There are commissions charged on trades FXTM has a transparent fee schedule The spreads on energies are wider than those of other brokers
How Can I Get Started in Oil Trading?
Starting trading in oil trading can be both thrilling and intimidating. This critical market offers numerous opportunities for those who understand its intricacies, but mastering the complexities of oil trading requires discipline.
To successfully navigate this challenging field, you need a personalized roadmap that ensures a smooth transition into the world of oil trading. Here is how to begin your journey, each step tailored to meet your specific needs as an aspiring trader in this exciting industry.
Educate Yourself
The first step is to familiarize yourself with the world of oil trading. This means that you should not only grasp the fundamentals of trading but also become familiar with the unique variables that drive the oil market.
Therefore, you should learn about the variables that affect oil prices, including geopolitical events, supply and demand dynamics, and economic indicators.
Several materials are accessible, including online courses, webinars, books, and market studies. Remember that the purpose here is to gather information and provide the groundwork for making intelligent trading choices.
Choose the Right Broker
Choosing a broker is a vital step in your trading experience. Look for a platform that meets your trading demands, has strong security features, and gives access to extensive instructional materials. Consider trading circumstances such as spreads, leverage, and the availability of demo accounts.
A demo account, for example, is extremely useful since it enables you to practice trading without risking real money. This phase is choosing a partner who will provide you access to the oil markets and help you improve as a trader.
Develop a Trading Plan
A well-thought-out trading strategy is your route map in the oil market. It should describe your trading objectives, risk tolerance, and techniques.
When developing your strategy, evaluate how much funds you are prepared to risk on each trade and establish clear entry and exit criteria.
Your trading strategy should also include how you intend to manage your transactions and alter your techniques in response to changing market circumstances. This plan is dynamic, and it will change and improve as you gain market experience and insights.
Stay Informed
Geopolitical developments, supply and demand fluctuations, and economic indicators significantly impact the oil market.
Therefore, staying updated about these issues is critical for sound trading selections. Follow credible news sources, sign up for market research newsletters, and join trading forums where you can share insights with other traders.
Practice Risk Management
Risk management is the foundation of effective trading. Risk management revolves around safeguarding your funds from large losses and guaranteeing that you can keep trading even after a terrible trading streak.
Use stop-loss orders to minimize possible losses and take-profit orders to lock in profits. Furthermore, be diligent in sticking to your trading plan and fight the desire to chase losses or vary from your strategy due to emotions.
Remember that effective trading is about risk management and optimizing total returns, not earning a profit on each transaction.
Reflect and Adjust
Review your transactions and trading results regularly to see whether you must adjust your strategy. Consider both your successful and bad deals to determine what worked.
This step is not about lingering on errors but learning from them and adapting your approach appropriately. Continuous learning and adaptation are critical for relevance and profitability in the ever-changing oil industry.
Conclusion
Overall, we tested various platforms to find the 10 Best that offer oil trading, we found a diverse range that caters to different traders. The various platforms offer cutting-edge technologies and user-friendly interfaces that enhance analytical capabilities and trading efficiency.
However, while social trading features and comprehensive educational resources are noteworthy, uncertain market conditions influenced by geopolitical risks pose a huge challenge.
Frequently Asked Questions
What are the risks of trading oil?
Oil is a volatile commodity, with prices varying greatly according to supply/demand dynamics and geopolitical events. Leverage, although possibly enhancing returns, increases the chance of losses that surpass your original investment.
Are oil trading platforms beginner-friendly?
Some platforms include simpler interfaces, demo accounts for practice, and complete training resources geared for traders.
What should I look for in a good oil trading platform?
Look for sophisticated charting tools, a wide range of oil-based products (CFDs, futures, etc.), narrow spreads, consistent execution times, and instructional materials.
How much money do I need to start trading oil?
Minimum deposit amounts vary significantly across platforms, starting from $1. Some platforms enable you to begin trading oil with a modest investment, but others may have greater entrance requirements.
Can I trade oil on my phone?
Yes, many oil trading platforms have specific mobile applications. These applications provide market access, charting capabilities, and the ability to manage open positions on the go.
Top 4 Brokers
