Our Top Picks

The best commodity trading brokers, according to our research, are:

  1. eToro
  2. AvaTrade
  3. Plus500
  4. IG Markets
  5. FXTM
  6. FP Markets
  7. Pepperstone
  8. CMC Markets
  9. City Index
  10. Interactive Brokers

A “commodity trading broker” is a brokerage firm that provides traders and investors with a platform to buy and sell commodities and commodity derivatives.

Commodity trading brokers are also often referred to as “commodity trading platforms”.

Commodities refer to basic goods used in commerce that are interchangeable with other goods of the same type, such as agricultural products (like wheat, corn, soybeans), energy resources (like oil, natural gas), and precious metals (like gold, silver).

Commodity derivatives are financial instruments whose value is derived from the price of an underlying commodity. These include futures, options, and Contract For Differences (CFDs).

In this top ten you will find commodity trading platforms mainly for CFD trading.

These kinds of products are divided into three different types:

  • Hard Commodities: This includes gold, silver, copper, platinum, palladium;
  • Soft Commodities: This includes common agricultural products including wheat, corn, sugar, coffee, soybeans, and generally what grows;
  • Energies: This includes crude oil, heating oil, and natural gas.
Table of Content

Round-up

Below is a comparison of the broker’s minimum spreads and the total number of commodity assets offered:

COMMODITY BROKERS TOTAL COMMODITIES MINIMUM SPREAD ON WTI MINIMUM SPREAD ON GOLD
eToro 30+ 0.05 pips 0.45 pips
AvaTrade 15+ 0.03 pips 0.29 pips
Plus500 20+ Variable Variable
IG Markets 45+ 0.06 pips 0.6 pips
FXTM 5 0.05 pips 0.3 pips
FP Markets 10 0.02 pips 0.3 pips
Pepperstone 30+ 0.02 pips 0.05 pips
CMC Markets 100+ 0.025 pips 0.3 pips
City Index 20+ 0.015 pips 0.03 pips
Interactive Brokers 135+ 0.25 USD 0.015%

Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

What are the best brokers and platforms for commodity trading?

Below is our curated list and review of the best brokers and platforms for commodity trading, with features and characteristics.

  • 30+ commodities traded as CFDs, including futures on assets like Platinum, Aluminum, Nickel, and Crude Oil.
  • Spreads start from 0.45 pips on Gold and from 0.05 pips on WTI Oil.
  • eToro offers leverage up to 20:1 on Gold and 10:1 on other commodities for ASIC, FCA, and EU-regulated traders.
  • Through eToro’s social trading platform, you can interact with and learn from other commodity traders.
  • eToro is considered one of the best broker for commodity trading for beginners

76% of retail CFD accounts lose money
  • Access to 15+ commodities including metals and energies.
  • Fixed spread of 0.29 pips on Gold and of 0.03 pips on WTI Crude Oil.
  • Leverage of 20:1 on Gold and of 10:1 on other commodities.
  • Spread betting available for UK and Irish traders on different assets, including commodities.
76% of retail investor accounts lose money
  • Trade CFD commodities options on Oil, Natural Gas and Gold.
  • Overall there are 20+ commodities you can choose from including metals, energies, and soft commodities.
  • Spreads on Gold and on WTI Oil are variable.
  • Leverage of 20:1 on Gold and of 10:1 on other commodities under Plus500CY, and Plus500AU Pty Ltd. For Singaporean traders, leverage on commodities is up to 5:1, while it’s up to 150:1 for international traders.
77% of retail investor accounts lose money
  • Over 45 tradable commodities.
  • With IG Markets you can trade commodities in different ways including through Barrier options, Vanilla options, CFDs, and Futures.
  • Spot spread starts from 0.028 pips on Spot WTI Oil and from 0.3 pips on Spot Gold.
  • Future spread starts from 0.06 pips on Future WTI Oil and from 0.6 pips on Future Gold.
  • Leverage of 20:1 on Gold and 10:1 on other commodities is available for EU, ASIC, FCA, and FSCA traders. For international. traders, leverage may vary depending on the volume of the trade. This can change from 6:1 to 200:1.
69% of retail CFD accounts lose money
  • Right now FXTM only accepts professional traders in Europe.
  • The maximum leverage for professional EU traders is 52:1 on Brent Oil, 49:1 on US Oil, and up to 300:1 on metals. Under the global entity of the broker, traders can trade commodities with leverage up to 2,000:1 depending on the volume traded.
  • Five commodities to trade in total. Spot Gold, Spot Silver, Spot Brent Oil, Spot WTI Oil, Spot US Natural Gas.
  • Spreads from 0.3 pips on XAUUSD.
81% of retail investor accounts lose money
  • 11 commodities to choose from including four different metals (Gold, Silver, Palladium Cash, and Platinum Cash), five soft commodities, and two energies.
  • The spread on WTI starts from 0.02 pips when traded as spot, and 0.04 pips when traded as futures. On the other hand, Gold is traded with an average spread of 0.3 pips.
  • Leverage of 20:1 on Gold and 10:1 on other commodities for ASIC, and CySEC clients.
74-89% of retail CFD accounts lose money
  • Access to 30+ commodities, including metals, energies, and soft commodities.
  • With Pepperstone, it’s also possible to spread bet on commodities for UK residents.
  • Spread start from 2 pips on Spot Crude Oil and 0.05 pips on Spot Gold.
  • The leverage offered on commodities is up to 20:1, with the exception of international traders trading under SCB that can access leverage of up to 200:1.
74-89% of retail investor accounts lose money when trading CFDs
  • Earn monthly cash rebates by trading CFD commodities depending on the level you qualify for. Monthly trade volume of $5M is required for a 5% spread discount At level 4, a $30M+ monthly volume will get a 20% spread discount.
  • CMC Markets’ UK traders can also open a spread betting accountto trade commodities.
  • You will find 100+ commoditiesthat include Futures and Spot Brent Oil, WTI Crude Oil, Silver, and Gold. Different soft commodities are offered, too. Commodities Indices are also available.
  • Spreadfrom 0.3 pips on Gold and from 0.025 pips on WTI Oil.
  • Leverageof 20:1 on Gold, and 10:1 on other commodities for EU, ASIC, and FCA-regulated clients. Leverage of 23:1 on Gold for Canadian traders, and up to 200:1 for NZ traders.
78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.
  • UK traders trading with City Index can access spread betting.
  • Commodities Options are also available.
  • Around 20 commodities available traded as CFDs and Futures.
  • WTI spreads start from 0.015 pips for spot trading and from 0.04 pips for Futures trading.
  • Spreads on gold start from 0.03 pips.
  • Leverage of 20:1 on Gold, and 10:1 on other commodities for EU, UK, and ASIC-regulated traders. Leverage of 5:1 on every commodity for Singaporean traders.
70% of retail CFD accounts lose money
  • Interactive Brokers supports 135 commodities in total including energies, hard commodities, soft commodities, and Futures on 30+ markets.
  • Options trading is also available when trading metals.
  • Futures commissions range from USD 0.25 to USD 0.85 per contract.
  • CFD commissions on Gold is 0.015% per trade.
  • Options commissions range from USD 0.15 to 0.65 per US option contract.
74-89% of retail CFD accounts lose money

How to choose a commodity broker

Choosing the right commodity broker is vital to your success in commodity trading. Here’s what you should look out for:

  1. Look for a regulated commodity broker: Always opt for a broker regulated by a reputable regulatory body, such as NFA (National Futures Associations), FCA (Financial Conduct Authority) or ASIC (Australian Securities and Investments Commission) to name a few. This ensures the broker operates under the stringent regulations that protect your investment. These include data protection policies, security protocols, and financial transparency.
  2. Prefer low commission brokers: Lower commission rates can greatly impact your returns in the long run. However, keep in mind that low-cost brokers might not offer the same level of service or resources as those charging a higher commission. Nowadays there are multiple brokers on the market that offer low fees on gold, such as 1.5 pips or lower when trading the commodity as CFD, or 1$/contract when gold is traded as options and futures.
  3. Check the type of commodity broker: Different brokers specialize in different commodities and offer varying types of commodity derivatives. If you’re interested in a specific derivative type, ensure your chosen broker provides it. For instance, if you’re into agricultural commodities, choose a broker that specializes in this area.

What are the most traded commodities?

As per 2021 data, the top traded commodities were:

  • WTI Crude Oil: With 248 million contracts, it is the most traded commodity. The popularity stems from its ubiquitous use in various industries.
  • Natural Gas: This saw 97 million contracts traded, reflecting its increasing importance in the global energy market.
  • Corn: It racked up 86 million contracts, signifying its essential role in both the food industry and biofuel production.
  • Gold: Despite being fourth on the list with 58 million contracts, gold remains a top choice for traders due to its status as a safe-haven asset.
  • Soybean: This rounded up the top five with 53 million contracts, thanks to its diverse applications in food, feed, and industrial use.

What are the exchanges where commodity are traded the most?

Commodities are traded in exchanges that specialize in certain types of commodities. Here are some of the major exchanges where commodities are traded the most:

  • Chicago Mercantile Exchange (CME) Group: The CME Group, incorporating the Chicago Mercantile Exchange and the Chicago Board of Trade (CBOT), is the largest commodities futures exchange in the world. It trades a wide variety of commodities, from agricultural products to energy and metals.
  • New York Mercantile Exchange (NYMEX): Now a part of the CME Group, NYMEX is primarily known for trading energy products, particularly crude oil, heating oil, and natural gas.
  • Intercontinental Exchange (ICE): Headquartered in Atlanta, ICE operates global exchanges and clearing houses, and provides information and connectivity services. Its most well-known commodity contract is the Brent Crude futures contract.
  • London Metal Exchange (LME): The LME is the world’s leading exchange for non-ferrous metals trading, including aluminum, copper, and zinc.
  • Dalian Commodity Exchange (DCE): This is one of the major commodity exchanges in China, trading in commodities like soybeans, corn, and steel.
  • Multi Commodity Exchange of India (MCX): The MCX is India’s largest commodity futures exchange and ranks among the top global commodity exchanges in terms of the number of futures contracts traded. It offers futures trading in bullion, ferrous and non-ferrous metals, energy, and a number of agricultural commodities.

How to trade commodities

Commodity trading can take place in several ways:

  • Spot Market: In this market, commodities are traded at their current price for immediate delivery. Physical commodity trading typically takes place in the spot market.
  • Futures Market: Here, commodities are bought and sold through contracts that specify the future price of the commodity. These are essentially agreements to buy or sell a specific quantity of a commodity at a predetermined price and time.
  • CFD Market: Contract for Difference (CFD) allows traders to speculate (also with leverage) on the price of commodities without owning the actual commodity. You can make a profit by correctly predicting whether the price will rise or fall.
  • Options Market: Similar to the futures market, the options market operates based on future pricing, but traders have the option (not obligation) to buy or sell the commodity at the agreed price on the due date.

Pros and cons of commodity brokers

Pros:

  • Wide Range of Tradable Assets
  • Flexible Trading Environment

Cons:

  • Limited Commodities
  • Costs and Fees

filippo ucchino

About The Author

Filippo Ucchino
Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
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