Compare the best commodity brokers & trading platforms

When it comes to commodities trading, you need a reliable online broker. Use this page to find the best ones, and learn how to choose between them.
By: Max Adams
Max Adams
Max has a keen interest in the transformative power of technology and is the founder of a platform called… read more.
Updated: Jun 8, 2021
Tip: our preferred broker is, eToro: visit & create account

What are the best commodity trading platforms?

If you’re just looking for a place to get started, then the table below contains the best of the best. All you need to do is choose one and sign up. If, however, you want to know more about what to look out for before signing up, scroll down and keep reading.

1
Min. Deposit
$50
Exclusive promotion
Our score
10
Trade/invest in stocks with just $50
Invest for dividends and get payout on stocks on Ex-Dividend day
Over 11 payment methods, including PayPal
Start Trading
Description:
eToro is a multi-asset investment platform with more than 2000 assets, including FX, stocks, ETF’s, indices and commodities. eToro users can connect with, learn from, and copy or get copied by other users. Buying stocks on eToro is free and you can invest with as little as $50.
Payment Methods
Wire Transfer, Bank Transfer
Full regulations list:
CySEC, FCA
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.
2
Min. Deposit
$1
Exclusive promotion
Our score
9.3
0 Commissions and no deposit minimums
Registered with and regulated by SEC and FINRA
Loss of cash protection
Start Trading
Description:
Financial company driven by technology and offering all-in-one self-directed investment platform that provides excellent user experience.
Payment Methods
Full regulations list:

What is a commodities broker?

A service that acts as a middleman for the buying and selling of commodities. Commodities are raw materials such as gold, silver, and oil, and brokers let you trade these materials with each other in a variety of different ways.

How do commodity brokers work?

By making trades in the commodities markets on the behalf of their users. As a registered user, you will be able to give details of the trades you would like to make and the platform will execute those orders for you, applying a small fee or commission for the convenience.

What’s the difference between a commodity trading platform and a stock broker?

The only difference is the asset being traded: either materials such as gold or palladium, or stocks and shares of major companies such as Apple and Tesla. It’s common to offer a range of services, however, and the best trading platforms do both.

How do I use a commodities broker?

You simply have to register online or on the app, fund your account, and navigate to the trading interface. Here you’ll be able to see all the commodities available to trade, usually with the following options:

  • Futures contracts. Commodities are traded ahead of time, as they need to be mined/farmed/extracted etc. Futures contracts are agreements to buy a given amount of a commodity at a set price on a specific date in the future; they are commonly used when trading commodities.
  • Options contracts. An options contract gives you the option to buy or sell a commodity at a set price before a specified date. Unlike with a futures contract there is no obligation to make the trade, and you can have both ‘put’ options (which allow you to sell at a certain price) and ‘call’ options (which allow you to buy at a certain price).
  • CFD trading. Another way to trade is by using Contracts for Difference (CFDs), meaning you speculate against the price of a commodity instead of buying or selling directly.
  • Spread betting. Similarly to CFD trading, when spread betting commodities you’re making bets on whether their price will rise and fall. The best spread betting brokers allow you to use this technique to speculate on commodities prices at speed and with leverage.

The best trading platforms for beginners, traders, and long-term investors

Which platform is right for you will depend in large part on your investment strategy and your level of trading experience. We’ve broken down the top ones for the three main user profiles to help you find the best option.

The top broker for beginners

If you’re just starting out, then you want to prioritise finding somewhere that makes buying and selling commodities as easy and hassle-free as possible. 

1
Min. Deposit
$250
Exclusive promotion
Our score
10
Highest level of data protection
Low spreads, zero commissions, and fast withdrawals
Delve into the volatile stock market with a reputable broker
Start Trading
Description:
101investing opportunities on a global market. Explore the market back and forth as 101Investing stays by your side either way. Supporting any trading way you choose, we empower you with the 90+ tools to explore your best opportunities. User-friendly interface and customized profile are the most solid base for efficient and promising market performance on any chosen device.
Payment Methods
Bank Wire, Credit Card, Skrill, Neteller
Full regulations list:
CySEC
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 understand how CFDs work and whether you can afford to take the high risk of losing your money.

The top platform for day-traders

For day traders looking to make frequent commodities trades, it’s best to go with a reliable CFD trading broker that offers low fees and good leveraged trading options.

1
Min. Deposit
$100
Exclusive promotion
Our score
10
Trade +2000 CFDs on Shares, Options, Commodities & more
Unlimited risk-free Demo Account
0 commissions & attractive spreads with up to 1:5 leverage
Start Trading
Description:
Plus500 is a leading provider of Contracts for Difference (CFDs), delivering Leveraged trading on +2,000 financial instruments, including Forex, Commodities, Indices, Shares and Options.
Payment Methods
Credit Card, PayPal, Skrill, Bank Transfer
Full regulations list:
FCA, CySEC, ASIC, MAS, FSA, ISA
Plus500 offers CFDs on major financial instruments. 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

The top app for long-term buyers

Some people look at commodities as a long term investment prospect – particularly when it comes to precious metals. If you’re looking to keep hold of your commodities, you want a broker or commodities dealer you can trust to give you good rates.

1
Min. Deposit
$50
Exclusive promotion
Our score
10
Trade/invest in stocks with just $50
Invest for dividends and get payout on stocks on Ex-Dividend day
Over 11 payment methods, including PayPal
Start Trading
Description:
eToro is a multi-asset investment platform with more than 2000 assets, including FX, stocks, ETF’s, indices and commodities. eToro users can connect with, learn from, and copy or get copied by other users. Buying stocks on eToro is free and you can invest with as little as $50.
Payment Methods
Wire Transfer, Bank Transfer
Full regulations list:
CySEC, FCA
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.

What should I look for in an online trading platform?

With all the best commodity trading platforms offering a good service to their users, it’s helpful to compare them on a few key metrics to find the right broker for you. Here’s a quick summary of what to consider when making your choice.

Design and ease of use

The point of brokers is that they make it easy for regular people to trade commodities. You don’t want a platform to make the process confusing, as this could lead to you missing out on timing your trades right, or even making costly mistakes because of bad design.

Demo account

Especially if you’re new to trading, find yourself a broker that allows you to start out with a free demo account. This means you can make trades in real time but with fake money – allowing you to learn the ropes and protecting you from losing any money when you’re still getting to grips with online commodities trading.

Low fees 

It almost goes without saying (but is still worth reiterating) that you want a broker to charge the lowest fees possible for placing trades. The lower the fees, the more of your money can be used for trading in the commodities markets.

Small spreads

One thing to look out for is the spreads (the difference between the bid and ask price). Be especially attentive to this if a broker advertises itself as having ‘zero fees’ – as this means they are likely concealing the true cost of trading by applying higher than average spreads.

Payment charges

Not every broker accepts every payment method, and sometimes even the ones will apply fees for funding your account in certain ways. This is most common when making deposits with credit cards or PayPal.

Reputation and regulation

When trading commodities, you should make sure you’re using a regulated broker with a strong reputation. It’s a good idea to have a read through our in-depth reviews, and also to look around the internet for user reviews, before signing up.

Number of commodities available to trade

The range of commodities you can trade will vary from broker to broker, so be sure to check what each one offers before registering. The different types of commodities include agricultural products such as beef and wheat, precious metals such as gold and platinum, and energy sources such as oil and natural gas.

Trading options 

We have outlined the usual methods further up this page, but you will find that not every option is available on every platform. Some don’t allow you to spread bet commodities, some may have different limits and leverage offered for CFD trading, and more comprehensive platforms might allow you to trade other assets such as stocks, forex, and cryptocurrencies.

Quick answers to key questions

Do brokers charge commissions or fees?

Yes, they usually apply charges for trading on their websites or apps. These fees may come in the form of small commissions applied for each trade placed, overnight fees for CFD positions carried across to the next day, or spreads between the bid (buy) and ask (sell) price of each commodity.

Do I have to verify my identity?

Yes, they require you to provide ID when signing up to their platforms. This is in order to comply with KYC (know your customer) guidelines and prevent platforms from being used for money laundering. Usually at least one form of photo identification is required.

Can I trade multiple commodities?

Yes, brokers will allow you to trade a wide range of commodities. The best platforms will give you access to every different commodity market and allow you to trade in a variety of different ways.

Do I need any extra software?

Not usually, no. You can generally place all of your trades through their websites or mobile apps, with all trading data kept within your account. If you want to use other popular software such as Meta Trader 4, then you’re often able to integrate this with their platforms.

Should I use a broker to trade commodities?

Assuming you want to trade rather than buy, then these platforms offer the widest range of options and are very simple to use. If you want to buy commodities outright – which is unusual but not impossible – then a commodities dealer is best.

Still undecided?

If you’re still considering which a broker is for you, then the following pros and cons, along with the additional information and FAQs at the bottom of the page can help you make a final decision.

Pros

  • You can trade a wide variety of commodities with online brokers
  • CFD brokers often allow for leveraged commodity trading
  • Some brokers also allow you to trade stocks, forex, and cryptos
  • Generally these platforms charge low fees
  • The best ones have great customer service
  • Some platforms support spread betting

Cons

Should I trade commodities now?

If you feel you understand how commodities trading works and want to try it out, then it’s a great time to sign up to one of the top 10 commodity brokers and make some trades. 

It’s important to keep on top of all the recent news that might affect the markets. Some commodities, such as gold, are regarded as ‘safe havens’ during times of economic turmoil as they typically retain value even when other assets are falling, but agricultural and energy commodities don’t usually follow the same pattern. Have a read of the most recent features from our experts below to stay informed.

Gold has advanced from $1705 above $1790 since the beginning of April, and the current price stands around $1768. The price of this precious metal still remains under pressure, but rising inflation worries could help Gold to advance again above $1800 resistance. Fundamental analysis: Rising inflation worries could help Gold…
The crude oil price is advancing this Tuesday after the news that OPEC could allow boosting oil output slightly from May 1. The price of crude oil continues to trade above the $60 support level, but rising Covid-19 cases and new restrictive measures in some parts of the world could…
The Gold price has opened the new week higher to continue moving to the upside on the back of a weaker U.S. dollar and yields. Fundamental analysis: Gold price rises on a weak dollar and yields drop The Gold price has moved higher on Monday close to the 7-week high…

Where can I learn more about commodity trading?

Right here on Invezz. We have a variety of commodities courses to help you learn everything you need to know about the market before you get started. 

Are commodities brokers available 24/7?
Can I use multiple brokers?
What if I forget my password?
Can I trade commodities on my phone?
What are soft commodities?
What are hard commodities?
Are commodities brokers regulated?
What is spread betting commodities?
Is it possible to short sell commodities?
Do I have to pay tax on my profits?
Are these platforms anonymous?
Can I transfer money from a broker to my PayPal account?
Is it easy to switch commodities brokers?
Is online commodity trading legal?
Is CFD trading the best way to buy and sell commodities?
Are there commodity trading limits?

Fact-checking & references

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

Risk disclaimer

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 >

Max Adams
Lead Content Editor
Max has a keen interest in the transformative power of technology and is the founder of a platform called Current Frequencies. When not at his desk,… read more.
Charlie Hancox
Financial writer
Alongside his passion for trading, Charlie has represented Great Britain and won national championships as a water polo player, and as a budding film director, has… read more.