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 rank the best brokers to trade silver, we have taken into consideration the following factors:
- The availability of tradable silver instruments;
- Commissions charged by the broker on silver;
- The different ways of speculation or investment offered for silver;
- The minimum contract size on silver assets;
- The regulation of the brokers.
Table of Content
|SILVER brokers||TRADED AS||MINIMUM CONTRACT SIZE||XAG/USD SPREAD||MINI-SILVER CONTRACTS|
|HF Markets||Spot||10 oz||0.030 pips||No|
|IG Markets||Spot, Futures, Options||500 oz||0.020 pips||No|
|eToro||Spot||1000 USD||0.050 pips||No|
|Admiral Markets||Spot||50 oz||0.010 pips||No|
|Forex.com||Spot||25 oz||0.026 pips||No|
|AvaTrade||Spot||100 oz||0.029 pips||No|
|City Index||Spot, Futures||N/A||0.020 pips||Yes|
|CMC Markets||Spot, Futures||30 oz||0.030 pips||No|
|FBS||Spot||50 oz||0.011 pips||No|
|Plus500||Spot||20 oz||0.020 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
Here’s our rundown of the top ten silver brokers to trade with.
1. HF Markets
- With HF Markets you can trade Silver derivatives with MT4 or MT5.
- Spreads on silver are slightly lower when trading it against the USD (0.030 pips), rather than the EUR (0.038 pips).
- The size of 1 lot is 1000 ounces, while the minimum contract size is 0.01 lots or 10 ounces.
- For high volume traders, the maximum contract size is 60 lots, while for beginners there’s the Micro account where the maximum allowed is 7 lots.
Visit HF Markets
(71,32% of retail CFD accounts lose money)
2. IG Markets
- IG markets allows traders to speculate on silver (spot) in different ways, such as Turbo24 Contracts, Spread Betting, Options trading, and CFD trading.
- One Silver contract with IG is 5000 ounces, and the minimum contract size is 500 ounces.
- Silver is traded on MT4, and charges different commissions depending on the way it is traded.
- On Silver CFDs spreads start from 0.020 pips. On options trading, barrier or vanilla, the commission is 0.10 USD per contract.
- When trading silver Turbo24 contracts, you will be charged no commissions when the transaction volume is above 100 USD.
- The maximum leverage available is 1:50 for international traders, while in Europe, UK and Australia it will be 1:10.
Visit IG Markets
(76% of retail investor accounts lose money)
- With eToro everyone, from experts to new traders, can interact and share with each other information about the silver market.
- Additionally, the broker offers a live news feed for silver market as well.
- eToro allows traders to speculate with CFDs on Silver against the USD.
- XAG/USD spreads eToro are slightly higher than its competitors at 0.050 pips.
- You can open positions on silver from 1000 USD. This amount can be lowered down to 100 USD depending on the leverage chosen to open the position.
- The maximum leverage available with eToro to trade silver is 1:10.
(79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money)
- Admiral has a cashback program for high-volume traders, which can also be activated when trading Silver on their MT4 and MT5 platforms.
- One contract is worth 5000 ounces with Admiral, however low-volume traders can still open positions from 50 ounces (or 0.01 lots). Those who want to open large positions, should keep in mind that the maximum tradable amount is 25 contracts.
- Commissions on silver are quite low starting from 0.010 pips. Depending on the account chosen, a commission of up to 3 USD round-turn may be applied.
- While the maximum leverage available for many regions is 1:10, international traders can trade with leverages up to 1:100.
76% of retail CFD accounts lose money
- Forex.com charges spreads on spot XAG/USD from 0.026 pips.
- The broker manages to keep their service for both new and experienced silver traders and investors, since the minimum trading size is only 25 ounces.
- Silver is offered on their own trading platform, which is available on both webtrader and mobile devices.
- It’s also possible to connect your trading account with Tradingview, for an improved charting analysis service.
73% of retail CFD accounts lose money
- One of the main advantages of AvaTrade is their large pool of trading platforms available to trade Silver. These are MT4, MT5, an award-winning mobile platform, and a dedicated platform for vanilla options (AvaOptions).
- On silver they charge fixed spreads from 0.029 pips, but for professional traders this fee is lowered to 0.023 and they can additionally use leverages up to 1:50.
- The minimum trade size on silver is not one of the lowest, but being at 100 ounces is quite competitive.
- For UK traders, Spread betting is also available.
(79% of retail CFD accounts lose money)
7. City Index
- City Index is a very flexible broker to trade Silver. You can trade it as CFDs, Futures and Spread betting if you reside in the UK.
- The broker makes mini-contracts available on silver as well for all those traders who want to open low-volume positions.
- Spreads are quite competitive as well, starting from 0.020 pips on spot CFD (both standard and mini-silver contracts), and slightly higher at 0.025 for silver futures.
- Spread betting fees follow those of CFDs and Futures, but no mini-contracts are available in this case.
Visit City Index
75% of retail CFD accounts lose money
8. CMC Markets
- CMC Markets charges spreads from 0.025 pips on CFD spot XAG/USD.
- If you use their CMC NextGeneration Platform, you will be able to trade silver futures.
- Silver futures spreads start from 0.030 pips.
- The minimum trade size with CMC is quite low at 30 ounces. High-volume traders can buy silver up to 120000 units per order.
- The broker offers Guaranteed Stop Loss on silver for a fee of only 0.02 USD per unit traded.
Visit CMC Markets
78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.
- FBS not only allows CFD spot trading on silver. In fact, for those who are interested in cryptos, FBS allows traders to trade silver against Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple.
- The spreads charged on silver are quite tight starting from 0.011 pips depending on the trading account chosen.
- One lot size on silver with FBS is 5000 ounces.
- Silver is tradable not only with MT4 and MT5, but also through their proprietary mobile platform FBS trader.
- While European traders can open positions with maximum 1:10 leverage, International traders can increase this value up to 1:333.
74-89% of retail CFD accounts lose money
- Plus500 is known for their quality CFD trading service, which is offered through their own trading platform.
- Plus500 makes silver trading available from only 20 ounces per contract.
- Spreads are dynamic and constantly change, but traders can generally trade XAG/USD from 0.020 pips.
- Even though Plus500 makes call-put options trading available, these are not offered through silver assets.
(77% of retail CFD accounts lose money)
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