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- 1. Compare the best brokers to trade commodities with Paysafecard
- 2. Here are the best commodities brokers that accept Paysafecard
- 3. What is a Paysafecard commodities broker?
- 4. Pros and cons
- 5. What are the fees and commissions when using Paysafecard to buy and sell commodities?
- 6. What to look for in Paysafecard commodity brokers
- 7. Is it safe to buy commodities with Paysafecard?
- 8. Do I need to provide ID when I buy commodities with Paysafecard?
- 9. FAQs
Compare the best brokers to trade commodities with Paysafecard
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82% of retail CFD accounts lose money.
Paysafecard is a fast, easy, and anonymous payment method that you can use to trade commodities online. On this page we take you through the best commodities brokers to use to do this, and the factors to consider when using one.
Here are the best commodities brokers that accept PaysafecardCopy link to section
To help your selection process, we’ve compiled a list of the best brokers to buy commodities with Paysafecard. If you’re ready to trade, simply follow one of these links – or keep reading if you need more information first.
77% of retail CFD accounts lose money.
What is a Paysafecard commodities broker?Copy link to section
A broker is a company or person who executes trades on behalf of their clients or users, getting paid a commission to place orders. Paysafecard is a prepaid online payment method based on a 16-digit PIN code that doesn’t require you to link to a debit card or credit card. A Paysafecard commodity broker is a trading platform that combines both of those features.
Pros and consCopy link to section
Trading commodities in this way comes with both benefits and drawbacks, the most notable of which are outlined below.
ProsCopy link to section
- Anonymous. Paysafecard does not require you to link to a bank account, credit card, or any other financial medium that leaves a digital trail. That’s a big plus for privacy-minded investors.
- Easy to buy. You can buy and load a Paysafecard at hundreds of thousands of markets, bars, and shops around the world.
- Fast. You can fund your account within minutes, allowing you to begin trading whenever you’re ready.
What are the fees and commissions when using Paysafecard to buy and sell commodities?Copy link to section
Commissions vary from platform to platform, but the most affordable commodities brokers will charge little more than a few pounds per transaction. Read our reviews to find the services that charge the lowest fees and commissions.
What to look for in Paysafecard commodity brokersCopy link to section
When choosing between brokers, consider the following factors to make sure you’re making the right choice.
- Easy to use. You want to focus on trading, so make sure to select a trading platform that is as easy to use as possible.
- Speed. Look for a broker that will execute your trades quickly and efficiently so you can react to events.
- Low transaction charges. You want a platform that charges the lowest fees possible. The less you pay in transaction fees and commissions, the more money you have available to make commodity trades.
- Great customer service. In case something goes wrong, you want access to high quality customer service – ideally 24/7.
- Variety of commodities choices. The best strategy is always to diversify your investments, so look for a broker that offers a wide range of commodities to trade.
Is it safe to buy commodities with Paysafecard?Copy link to section
Yes, it is generally safe to trade commodities using your Paysafecard. Still, you should always seek out the highest levels of security possible, and the security features of each platform will vary. We profile some of the most secure brokers on this page, and you can learn more in our in-depth reviews.
Do I need to provide ID when I buy commodities with Paysafecard?Copy link to section
Not necessarily. Paysafecard lets you make purchases using a 16-digit code, rather than linking to a debit or credit card. That said, many commodities brokers follow KYC (Know Your Customer) guidelines, which often require them to ask for identification when you sign up. So if privacy matters to you, look for a commodity broker that lets you take advantage of the anonymity that making purchases with Paysafecard can offer.
How to trade commodities with PaysafecardCopy link to section
Most platforms require just a few simple steps to fund your online account. The precise steps will vary, but in general the process looks like this.
- Find the payments or deposits page on your commodities broker’s website or app.
- Select Paysafecard as your preferred payment option.
- Enter your 16-digit code linked to your Paysafecard.
- Enter the amount of money you wish to deposit into your trading account.
- Click confirm.
FAQsCopy link to section
Commodities are raw materials (such as iron ore) or agricultural products (such as wheat) that can be bought or sold in the form of futures or options. A broker will execute those trades for you, enabling you to trade all kinds of different assets.
Soft commodities are agricultural products which are grown and farmed, as opposed to metals which are mined from the ground (known as hard commodities). Examples of soft commodities include wheat, corn, coffee, sugar, and livestock.
Barring rare exceptions, using Paysafecard as a payment method will enable you to trade just as wide a range of both soft and hard commodities as you would with other payment methods. Still, if variety matters to you, seek out a broker that offers the widest array of assets to trade; the options available to you will depend on your broker.
Practically speaking, no. Regulatory bodies do enforce position limits for commodities trades to ensure that large institutional investors don’t use their immense resources to try to corner the market on a specific commodity. But these limits are absolutely huge and are only designed to stop monopolies from developing, so you don’t need to be concerned if you’re a regular investor.
Other payment methods that you can you to buy commodities online include:
- Apple Pay
- Google Pay
- Digital wallets
- Credit card
- Bank transfers
The process involves buying or selling various raw materials or agricultural products. Traders make trades via futures or options, with a broker executing the orders. To make a profit, commodities traders correctly predict the price movement of the commodity they’re trading, and buy and sell it accordingly.
Keep up with the commodities market right here on this site. Invezz publishes investment news on a regular basis. We also put out analysis pieces that look at emerging trends in the markets so you can make wiser investment decisions.
Brokers will take a commission every time you trade. The size of that commission can vary depending on the platform, so do your research to find the most competitive trading fees (the best place to look is in our reviews). Make sure that the size of your account balance is large enough to ensure that you’re not significantly eating into your budget by paying too much in the form of commissions, especially if you’re a frequent trader.
Start right here on this site. We’ve published a series of educational articles on commodity trading, designed to give you all the basics you’ll need to make your first trade, plus more involved lessons to help you s쳮d in your trades.
Paysafecards are a prepaid online payment method that are based on a 16-digit PIN code that doesn’t require you to link to a debit card or credit card.
A futures contract is an agreement in the present to make a trade in the future. Two parties agree a date on which the exchange will be made and the price that will be paid, and the trade is executed on these terms at the specified date.
Options contracts are agreements to exchange assets at a set price before a specific date, upon which they expire. Commodity trading is one of the most frequent uses of options contracts.
Margin trading – also known as leveraged trading – is when you make large trades by staking a small amount of your own capital and having your broker cover the rest.
No, we do not recommend that beginner users undertake margin trading. This is because the practice – while it does maximise profits if you call the market right – carries a huge amount of risk and can see all your capital wiped out quickly if you call things wrong.
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >