10 Best Commodity Trading Brokers for 2026

The best commodity trading platform for beginners is eToro. eToro stands out for CopyTrader copy trading, a sleek, easy-to-use web/mobile platform, and an unlimited demo with a $100,000 virtual portfolio. The copy feature helps new traders learn by following experienced investors, while the simple interface and always-available demo make it easier to practice commodities without risking real money.

Beginner-friendly commodity platforms usually combine an intuitive interface, a risk-free practice account, and low-friction ways to learn as you trade. Plus500 is a strong alternative to eToro thanks to its clean, easy-to-navigate platform, unlimited demo (auto-replenishing balance), and zero-commission spread-only commodity CFDs. If you want a different option than eToro, XTB is also compelling because of its user-friendly xStation 5 (one-click trading + tools), no minimum deposit, and strong education/support via XTB Academy and webinars, and it’s often featured among the best forex trading platforms for beginners for learning-oriented traders.

The best commodity trading platform to trade futures is Interactive Brokers. Interactive Brokers is built for futures traders with direct access to major commodity exchanges (CME/ICE/etc.), very low futures commissions with no spread mark-ups, and pro-grade Trader Workstation tools. That mix lets you trade listed futures with institutional-style functionality while keeping trading costs tight and execution tools robust.

Top futures platforms typically deliver exchange access, competitive commission structures, and professional-grade order/trading tools. Saxo Bank is a good alternative to Interactive Brokers because it offers access to commodity futures exchanges (standard/mini contracts), a SaxoTraderPRO setup designed for active futures trading (depth of book + advanced order types), and strong pricing (tight spreads/low commissions), and it’s often mentioned among the best trading platforms for futures for active traders. Depending on your region, IG can also serve as an alternative to Interactive Brokers, pairing commodity futures support (in certain regions) with deep liquidity/fast execution and strong risk tools like guaranteed stop-loss orders.

The best commodity trading platform for agricultural products is Interactive Brokers. Interactive Brokers excels here with direct trading in grains and softs (corn/soybeans/wheat/coffee/cocoa/etc.), broad global exchange access, and commodity options on futures for hedging. This combination is useful if you want wide ag-market coverage and the ability to manage risk with options alongside your core positions.

Broad soft/grains coverage, efficient pricing, and flexible platform choice are often featured in the best agricultural commodity brokers. Pepperstone is a credible alternative to Interactive Brokers, offering a wide ag “softs” range (coffee/sugar/corn/wheat/cattle), tight-spread commodity CFDs with no extra commission, and multiple platforms (MT4/MT5/cTrader/TradingView). For traders who prefer a different route than Interactive Brokers, IC Markets is another option with a strong soft-commodity CFD lineup (corn/soybeans/sugar/coffee/cocoa/wheat), ultra-low spreads + fast execution, and MT4/MT5/cTrader support.

The best commodity trading platform to trade options is Interactive Brokers. Interactive Brokers is particularly strong for this use case due to commodity options on futures (e.g., crude/corn options), advanced options analytics in Trader Workstation, and low all-in costs (low commissions/no spread mark-ups). Those analytics and pricing conditions help options traders structure, analyze, and execute strategies more efficiently.

The best commodity options platforms tend to pair access to listed options markets with powerful option-chain tooling and cost-efficient execution. A similar alternative to Interactive Brokers is Saxo Bank for commodity options on futures access, SaxoTraderPRO option-chain tooling + advanced execution features, and futures+options+CFDs in one account. AvaTrade is often referenced among trusted options brokers online thanks to AvaOptions support for gold options, MT4/MT5 + AvaTradeGO for commodity CFDs, and strong educational resources for commodities that make it an alternative to Interactive Brokers.

The best commodity trading platform for demo trading is Plus500. Plus500 makes demo practice straightforward with an unlimited demo (auto-replenishing balance), the same clean proprietary platform as live trading, and commission-free commodity CFDs. That setup is handy for rehearsing entries, exits, and position sizing in a live-like environment without worrying about the demo account running dry.

Always available practice accounts, realistic trading interfaces, and broad market coverage are highly regarded features of the best demo trading brokers. IG offers similar features to Plus500 like an unlimited demo (pre-loaded virtual funds), a full-featured platform (charting + news + tools), and a broad commodity lineup with competitive spreads. If you’d rather not use Plus500, eToro is another demo-friendly choice because it has an unlimited demo ($100,000 virtual portfolio), lets you practice CopyTrader on commodity CFDs, and supports a very wide commodity CFD selection (47), and it’s often listed among the best demo accounts for forex trading.

The criteria for choosing the best commodity trading brokers are listed below.

• Market breadth: Prioritize brokers with 30+ commodity markets across metals, energies, and agriculture to avoid single-market concentration; for example, eToro (47 commodities), Pepperstone (40+ commodities), and IG/AvaTrade (35+) provide materially broader coverage than “gold-and-oil-only” lineups.
• Instrument access: Match the instrument set to your objective. Use commodity CFDs for flexible long/short exposure and smaller sizing, but require exchange-traded futures/options for institutional-grade hedging (calendar spreads, options structures). Interactive Brokers and Saxo Bank stand out for futures + options access, while IG emphasizes CFDs (including undated structures) and AvaTrade adds gold options via dedicated tooling.
• Trading costs: Benchmark all-in costs on core contracts (e.g., gold, Brent/WTI, natural gas) using typical spreads + commissions + overnight financing/roll costs; examples of stated/illustrative levels include Pepperstone gold 0.05 points, IG gold 0.1 points, AvaTrade gold $0.34 and US crude $0.03, and FP Markets WTI $0.02 and gold $0.16, then verify whether pricing is spread-only (common for commodity CFDs) or raw spread + commission (more common in professional-style models like IBKR).
• Execution quality: Favor brokers engineered for fast fills and low slippage in volatile commodities. Look for deep liquidity aggregation, no dealing-desk intervention, and infrastructure positioning (e.g., IC Markets emphasizes high-speed execution and institutional-style routing; IG highlights depth/liquidity built over decades; Pepperstone markets “fast execution” for active commodity CFDs).
• Platform capability: Select a platform stack aligned with your trading style. MT4/MT5/cTrader/TradingView ecosystems support EAs/automation and advanced workflows (e.g., Pepperstone, IC Markets), while professional multi-derivative terminals (e.g., IBKR Trader Workstation, SaxoTraderPRO) better serve futures/options analytics. If you need simplicity and social signals, eToro’s proprietary platform offers copy trading but no MT4/MT5.
• Regulation & protection: Require top-tier regulation and robust client-money safeguards (segregation, conduct oversight across major jurisdictions); strong multi-licensing examples include IG (FCA/BaFin/ASIC and more), Pepperstone (ASIC/FCA/CySEC/BaFin and more), and Saxo Bank as a regulated Danish bank with extensive global authorizations, treat lightly regulated offshore-only structures as higher counterparty risk.
• Risk controls: Prefer brokers that operationalize risk limits in fast-moving commodities. Prioritize guaranteed stop-loss availability where offered (e.g., IG; also available on Plus500 for certain instruments), plus robust stop/limit order types, alerts, and clear margining; align leverage with your risk budget (retail commodity leverage is often capped around 1:10–1:20, while “professional” settings can be much higher, such as up to 200:1 on gold at some venues).
• Minimums & demo: Use entry conditions as a screening filter. Compare minimum deposits (e.g., $0 at Pepperstone/IG/IBKR/XTB versus $100 at AvaTrade/Plus500/FP Markets and $200 at IC Markets), and require a high-fidelity demo that reflects commodity margin/spread behavior (e.g., IG and eToro offer large, reusable virtual portfolios; some brokers impose time-limited demos such as AvaTrade 21 days, XTB 30 days, Saxo 20 days).

The fees that matter most when picking low-cost commodity trading brokers are the bid–ask spread and/or ticket commission, overnight financing (“swap”) and any roll adjustment, FX conversion on non-base-currency commodities, exchange, clearing, and market-data fees if you trade listed futures/options, and non-trading fees (inactivity, withdrawal, guaranteed-stop premiums).

Your holding period determines which dominates. For intraday gold or WTI trades, spread plus execution slippage is usually the main cost, so tight-spread CFD brokers such as Pepperstone, IC Markets, and FP Markets are structurally advantaged, “zero-commission” CFD venues such as IG, Plus500, and eToro still charge through the spread.

For multi-day positions, financing becomes first-order because CFDs are leveraged and incur an overnight charge/credit after the daily cut-off, a “cheap spread” can be overwhelmed by recurring financing.

If you hedge with exchange-traded commodity futures/options (CME, ICE, LME), note that exchange and regulatory fees can be comparable to, or larger than, the broker’s commission, especially on micro contracts; Interactive Brokers’ tiered futures commission can be as low as $0.25 per contract, while market-data subscriptions can add a monthly fixed cost.

Finally, treat “risk-control fees” as costs: guaranteed stops can carry a stop premium or be charged via a wider spread, so use them selectively.

CFD and spot pricing differences affect your choice of commodity trading brokers because they determine whether your trade tracks the cash market you observe or the derivative curve your broker actually references.

A commodity CFD is a bilateral contract that settles the price difference rather than delivering the commodity, so the broker chooses a reference price (often an interbank spot feed for metals, or a front-month futures price for energies/softs).

In practice, many “spot” oil CFDs are futures-based and are rolled at expiry; that roll, plus daily financing/swaps, can make your CFD chart diverge from the headline spot or the next listed futures contract.

The futures curve explains the drift: in contango, forwards/futures sit above spot, and in backwardation, they sit below spot. When exposure is rolled, the curve shape creates positive or negative roll yield, so two brokers with different roll schedules (or “undated” mechanics) can generate different carry on the “same” commodity.

You should pick brokers that label instruments as spot/forward/futures-based, publish rollover timing and swap/financing mechanics, and show contract specifications and trading hours. If you hedge a futures-referenced exposure (e.g., NYMEX WTI or COMEX gold), direct futures access via Interactive Brokers or Saxo Bank reduces basis risk; for short-horizon speculation, tight-spread CFD venues like Pepperstone or IC Markets can be sufficient.

The platform features that matter for futures vs options on commodity trading brokers are, for futures: exchange routing with depth-of-market, contract/roll management, and margin/position controls, and for options: an option chain with Greeks and implied volatility, multi-leg strategy entry, and risk visualization.

For commodity futures (e.g., CME Group metals/energy or ICE softs), you want Level-II order book (DOM), time-and-sales, and order types that manage fills under volatility (limit, stop-limit, bracket/OCO, and GTC). The platform should surface tick value, contract size, trading hours, and first-notice/last-trade dates so you can roll or exit before delivery risk. Real-time exchange market data (often a paid subscription) matters because it drives the bid/ask and depth you route against.

For commodity options (often options on futures), you need a chain that displays bid/ask, open interest, volume, implied volatility, and the Greeks (delta, gamma, vega, theta), plus a strategy builder that routes spreads/straddles/condors as single multi-leg orders and shows a payoff/risk graph. Interactive Brokers’ OptionTrader supports single- and multi-leg options with implied volatility and Greeks, Saxo’s option toolset includes an option chain, strategy builder, and risk graphs.

If your broker only offers MetaTrader-style commodity CFDs, expect weaker native options analytics and fewer exchange-style roll/spread workflows, even when the headline spread looks low.

The hedging features commodity trading brokers should offer for commodity risk management are instruments for linear and convex hedges (shorting, futures, and options), spread trading across maturities and related commodities, risk-based margining and portfolio analytics, and robust order-level risk controls and alerts.

Instrument breadth matters because hedging is basis-sensitive. You need access to the specific benchmark you are exposed to (e.g., NYMEX WTI vs Brent, COMEX gold vs spot XAUUSD), plus smaller “micro” contracts for sizing. Brokers with exchange access (Interactive Brokers, Saxo Bank) support futures/options hedges, CFD-led brokers (IG, Pepperstone, IC Markets, Plus500) provide short exposure but with financing/roll costs.

Your platform should support calendar spreads and multi-leg option strategies as a single order to reduce leg risk, and it should provide scenario analysis of P&L and Greeks. Clearing-style margin systems such as CME SPAN are portfolio-risk based and are designed to estimate worst-case one-day loss under multiple price/volatility scenarios.

At the execution layer, require bracket orders, OCO, trailing stops, and margin/price alerts. In fast markets, guaranteed stops can cap gapping risk at the cost of a stop premium or wider spread, so they are a hedging “insurance” tool rather than a default.