You may have come across people who store commodities like gold, silver, oil, wheat, soybeans and many others in large quantities. However, have you ever wondered why they do so? Well, to make a profit when their price rise.
But in the digital world, you don’t need to do so. You can make money from their price fluctuation by trading commodities online. However, for that you need to open an account with a commodity broker.
And, selecting a broker is not as easy as it looks, numerous options are available out there. But worry not; here we will discuss the best commodity brokers platform for 2024 and things to keep in while selecting the right broker for you.
Top Commodities Broker Platforms in 2024
IC Markets
IC Markets is amongst the most popular platforms for trading a range of financial assets, including top commodities. The broker is regulated by the Tier 1 and Tier 2 financial jurisdictions. It allows traders to trade on Meta Trader 4, Meta Trader 5, and C Trader.
When it comes to commodity trading, you can trade in over 22 commodities CFD products on the platform. It includes spot energy products like natural gas, crude oil, Brent, etc, metal products like gold, silver, platinum, and palladium, and soft commodities like coffee, cocoa, sugar, wheat, soybeans, etc.
IC Markets offer a good amount of leverage on commodity products. It offers up to 1:1000 leverage on energy products and 1: 100 leverage on soft commodities. Also, you can find excellent liquidity for trading commodities on the platform.
Key Features
- Highly Regulated Commodity trading broker
- High Leverage
- Wide Range of Commodity Products
Vantage
Vantage is another popular commodity broker platform regulated by Australian and Vanuatu Financial authorities. The broker is quite popular in the regions like Thailand, and the Philippines. You can find a range of commodities to trade on the platform.
The best part of Vantage Broker is it offers four account types for commodity trading, including Professional, Novice, Experienced and Any level. These accounts are specially designed based on the experience and knowledge of traders.
Also, you can trade on both MT4 and MT5. However, there are more technical analysis indicators, trading orders and charting tools available for MT5 than MT4.
Key Features
- Range of Account types for all sorts of traders
- Tight Spread, Low and transparent cost
- Risk Management Tools and Free Education Resources.
Ava Trade
Ava Trade can be a good option to begin your commodity trading with a highly satisfied customer base and positive reviews. The broker platform was founded in 2006 and is regulated by the tier 1 and tier 4 financial institutes.
The best part about this commodity broker that differentiates it from others is trading applications. Ava Trade offers platforms like Zulu Trade and Dupli Trade to facilitate clients’ copy trading.
In addition, the broker offers access to Ava options, Automated solutions, the Ava Trade Go app, Guardian Angel and many other useful apps for traders to help them trade. Ava Trade mobile trading app is the best in the market.
Key Feature
- Top Notch app for charting and analysis tools
- Good Customer Track Record
- Best for automated and copy traders
A quick glance
Yes, if you want to trade commodities online, you must open an account with a broker.
- IC Markets
- Vantage
- Ava Trade
- Interactive Brokers
- XM
- Beirman Capital
- TD Ameritrade
Plus500
XM is a beginner-friendly platform for trading commodities. It provides comprehensive educational resources. Also, the minimum deposit amount is just 5$, which benefits beginners.
Ava Trade can be a good option for commodity copy and algorithm trading. It offers the best platforms, like Zulu Trade and Dupli Trade, for copy trading.
Interactive Brokers
Interactive Brokers is available in more than 30 countries and offers a range of agriculture, energy, metal and soft commodities. The commission for trading commodity futures is somewhere around 0.25 to 0.85 USD.
The broker platform offers a range of trading apps like IBKR Trader Workstation (TWS), IBKR Desktop, IBKR Client Portal for desktop users, and IBKR Mobile, IBKR GlobalTrader, and IBKR Client Portal for mobile users.
Apart from these, Combo Trader, Spread Trader, and Index Arbitrage are the platforms to formulate cutting-edge strategies and track spreads. Overall, when it comes to tools and advanced technology, Interactive Broker is winning in our commodity brokers list.
Key Features
- Trading charting tools and analysis
- Trade Workstation tool Feature.
- Competitive Commissions
XM
XM is a beginner-friendly platform for trading commodities. The best part about this commodities broker is provides comprehensive educational and training resources. Also, the minimum deposit amount for account opening is just 5$, which benefits beginners.
The broker offers over 1000 instruments and 9 asset classes other than commodities. XM has a client base of over 10 million, which is huge compared to other brokers. XM is undoubtedly a reliable and reputable platform to start your commodity trading journey.
Key Features
- Exceptional Educational and Research Resources
- Round-the-clock customer Support.
- Access to Global Trading Instruments
- Support 10 Trading Platforms
Beirman Capital
Beirman Capital is a new and emerging broker platform suitable to start your CFD commodity trading journey. You can find a range of energy, metal, agriculture and other soft commodity products on the platform.
One thing that makes the broker a good-to-go is the personal assistance feature. Being an emerging broker, clients receive extra special treatment on the platform. A relationship manager is assigned to every client to help them at every stage of their trading journey.
That’s not it; the brokers provide traders with access to trading courses, research tools, live webinars, and sessions. Also, the currency spreads and commissions are low as compared to other brokers.
Key Features
- Risk Management Tools
- High Leverage
- Excellent Leverage & High Volume
TD Ameritrade
TD Ameritrade is amongst the top commodity brokers, especially for the US client base. This broker is regulated by the Financial Industry Regulatory Authority, USA, making it a secure option. The platform provides a range of commodities and good leverage for trading.
TD Ameritrade offers an exceptional platform named thinkorswim platform. It helps traders customise their trading strategies, access advanced charting tools and make the best use of technical analysis to plan the trades.
Although TD Ameritrade is a good broker, the broker has a low score in terms of customer reviews. However, every trader is different, so one can start with the demo account and determine whether TD Ameritrade is good for you.
Key Features
- Transparent and competitive pricing
- Top-tier research and educational tools
- Great website and mobile apps
Plus500
If you want an easy-to-use and user-friendly commodities broker platform, you can choose Plus 500. The broker is regulated by around six tier one, three tier two, and one tier 4 financial justification. So we can say that regarding regulation, the broker stands out.
Plus, 500 offers almost every popular commodity product and exceptional apps for commodity traders. You can get a leverage of up to 1:150 for commodity products.
However, one thing that can be a disadvantage for many traders as you need a minimum deposit of 100 Euro to open an account. That makes a significant amount for a beginner or new trader.
Key Features
- Charting Indicator & drawing tools.
- Ease to use platform.
- Unlimited Demo Accounts.
Factors to consider while selecting a commodity broker
We have discussed the top platforms for commodity trading. However, to help you out in selecting the right broker, here are some elements you need to look at:
Regulation
The first thing to consider while selecting a commodity broker is regulation. The commodity market is highly volatile and risky. One can make and lose a good amount of money in commodity trading.
That’s why financial justifications have made certain rules and restrictions for commodities brokers. So it is a must for a trader to choose a well-regulated broker and protect their capital.
Trading Instrument
The trading world is diverse, with a variety of instruments available to trade. Choosing a broker platform that offers only commodity products is not a good idea.
Diversification of capital in different financial products is a must. Therefore, choosing a broker platform that offers forex, cryptocurrencies, stocks, indices, and other financial instruments is better so that you can also trade in other instruments.
Trading Education
Most reputed commodity broker platforms offer educational resources like courses, books, blogs, articles, and video and audio content.
So, if you are totally new to the commodity market or at the beginning stage, it is a must to go for a broker that offers educational resources. It will help you to learn trading in the diverse and highly volatile market.
Leverage
You may have heard of leverage in trading; leverage is a must-have feature of a broker platform. It’s a kind of borrowed loan that enables traders to place a large amount of trades relative to the capital.
So go for a broker that provides a good leverage facility. Also, remember leverage comes with a great risk. A broker platform offering unexceptionally high leverage is actually a big red flag.
Customer Support
All the features of a broker platform are useless if the broker’s customer support is not good. Most of the brokers in the financial market offer round the clock customer support. However, 24/7 customer support is not enough. The quality of satisfaction also matters. So choose accordingly.
Wrapping Up
We have discussed the top paid and free Commodity broker platforms to enter the dynamic trading world. Commodities like Gold, silver, crude oil, natural gasses and platinum are a must to add elements to your investment portfolio.
However, much of your commodity trading experience will depend on your broker. In our commodity brokers list, each broker has some qualities, also, these are the leading names in the industry.
But, event the best commodity broker platform is useless for you if it does not offer what you are expecting. So to select the right broker, first determine your expectations and then research whether the broker platform matches your expectations.