At InvestinGoal, we adhere to strict standards to ensure an unbiased review process. We conduct our reviews by examining each broker’s offering and performance across 4 key categories. A final rating is produced for each forex broker based on a total of 187 data points. Learn more about our review process and methodology.
In order to choose which gold trading brokers to feature in this top 10, we have took into consideration a number of factors including:
- The availability of tradable gold instruments;
- Commissions charged by the broker on gold;
- The different methods of investment offered on gold;
- The minimum contract size on gold assets;
- The regulation of the brokers.
Table of contents
Find below a comparison table showing the differences and similarities of each of the 10 gold forex brokers.
|BROKERS||TRADED AS||MINIMUM CONTRACT SIZE||XAG/USD SPREAD||MINI-GOLD CONTRACTS|
|HotForex||Spot||1 oz||0.023 pips||No|
|IG Markets||Spot, Futures, Stocks||2 oz||0.030 pips||No|
|eToro||Spot, Futures, Stocks||1000 USD||0.045 pips||No|
|Admiral Markets||Spot, Futures, Stocks||1 oz||0.010 pips||No|
|Forex.com||Spot, Futures||1 oz||0.025 pips||No|
|AvaTrade||Spot, Futures, Options Stocks||1 oz||0.029 pips||No|
|City Index||Spot, Futures||N/A||0.003 pips||Yes|
|CMC Markets||Spot, Futures, Stocks||0.4 oz||0.003 pips||No|
|FBS||Spot||1 oz||0.031 pips||No|
|Plus500||Spot, Futures, Stocks||1 oz||0.0553 pips||No|
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
Top 10 brokers for trading gold: 2022 review
- Both MT4 and MT5 trading platforms support trading on gold as CFDs. You can also trade one gold ETF (GLD).
- HotForex allows gold trading also for those traders interested in copy trading on the proprietary HF Copy platform.
- The size of 1 lot on gold is equal to 100 ounces while the minimum trade size is 0.01 lots or 1 ounce. High-volume traders can open up to 60 lots or 7 lots if operating on a micro account.
- Gold is typically traded against the USD with a spread starting at 0.023 pips but on HotForex you can trade also against the EUR with spread charged from 0.12 pips.
- Maximum leverage on gold is 1:20 in Europe, UK, and Australia or 1:200 for international traders.
2. IG Markets
- Trade gold as CFDs in different asset classes including: options, spread betting, shares, ETFs, and futures.
- Size of 1 lot is equal to 100 ounces while the minimum size is 0.20 lots or 20 ounces.
- Spread on CFD spot XAU/USD is 0.3 pips, whereas on barrier and vanilla options there is a commission of $ 0.10 per contract.
- Trading gold on IG Markets you will not be charged for positions above $100.
- Maximum leverage is 1:20 in Europe, UK, and Australia, 1:200 for international traders.
- eToro is popular for social trading features in which you can interact with other traders at the same time and keep up to date with live news about gold market.
- Trading gold on eToro is facilitated by CFDs on spot markets, the SDPR gold ETF (GLD) or you can even trade Bitcoin against Gold.
- eToro’s minimum trade size on commodities is $1,000. You can lower this amount to $50 on gold, based on the leverage applied to open the position.
- The spread you can find on XAU/USD is slightly higher than competitors at 0.045 pips.
- Leveraged gold positions are capped to 1:20 for any retail client of eToro.
- Trading gold on MT4 or MT5 you’ll benefit from a cashback program if you meet the broker’s requirements on monthly trading volume.
- Gold trading is available on many CFDs assets such as ETFs and futures.
- Spread on spot XAU/USD is charged from 0.010 pips while leverage on gold depends on your position since it may vary from 1:500 for international traders to 1:20 for traders in the EU, the UK or Australia.
- The minimum contract size with Admiral is 1 oz. For traders who want to trade higher volumes, the maximum is 25oz.
- Forex.com allows to trading of gold CFDs on Spot and futures markets. Gold and silver trading is not available on MT4.
- The spread on gold starts from 0.025 pips against USD only even though Forex.com currently offer also EUR, GBP, CHF, and AUD.
- The minimum trade size on gold with Forex.com is kept low at 1 ounce.
- Forex.com provides TradingView to improve charting analysis on Gold.
- AvaTrade offers plenty CFDs on gold assets such as spot, options, futures, shares, ETFs and Bitcoin Gold.
- For UK traders, AvaTrade allows spread betting on gold.
- The minimum trade size for spot gold available on AvaTrade is 1 ounce.
- AvaTrade offers fixed spread to trade gold from 0.029 pips, which is reduced to 0.023 pips for professional traders who can avail of a leverage up to 1:200.
7. City Index
- Gold trading is made available as CFDs on spot and futures market. City Index enables spread betting on gold for UK traders only.
- Mini-contract gold trading is permitted.
- Spreads on gold start from 0.003 pips but the spread on futures is slightly higher at 0.005 pips.
- Spread betting follows the same fees but lacks mini-contracts on gold.
8. CMC Markets
- Gold trading is facilitated through CFDs on spot, futures, shares, and ETFs. Spread betting is available for traders in the UK.
- Gold CFDs at CMC Markets are charged with a spread of 0.003 pips.
- Minimum trade size on gold is 0.4 units or 0.0004 lot on MT4 with a maximum of 7500 units or 750 lots on MT4.
- CMC Markets enables the use of guaranteed stop loss on gold orders charging $0.30 USD per unit.
- FBS allows trading of spot gold CFDs and gold is also traded against cryptos such as Bitcoin Cash, Bitcoin, Ethereum, Litecoin, and Ripple.
- The spread charged on gold starts from 0.031 pips but depends on the account chosen.
- A lot size on gold is equal to 100 ounces with a minimum size available of 1 ounce.
- Traders in Europe, UK or Australia are limited to leverage on gold up to 1:20 while international traders have a higher ratio at 1:400.
- Plus500 provides gold CFDs on different assets such as spot, futures, shares, and ETFs via the proprietary platforms. It is known for being a top CFD service.
- The spread you can find on gold starts from a minimum of 0.053 pips.
- With Plus500 you can also trade gold via a call-put option with a higher spread. Calls from 0.094 pips, puts from 0.078 pips.
- Plus500 makes gold trading available from only 1 ounce per contract.
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