Compare the best brokers to trade commodities with Google Pay

Linking your Google Pay account to a broker is a quick and easy way to fund your commodities trades.
By: Jonah Keri
Jonah Keri
Jonah Keri is a trader and analyst who spent 11 years at Investor's Business Daily covering the markets. He… read more.
Updated: Jul 15, 2021
Tip: our preferred broker is, eToro: visit & create account

An increasing number of online commodities brokers accept Google Pay as a method of payment. Keep reading to find out which brokers offer the best service and to learn more about the benefits and drawbacks of paying for your trades with Google Pay.

Here are the best commodities brokers that accept Google Pay

If you’re ready to trade commodities right away, then follow any of the links below to our trusted partners. If you need more information, then keep reading below to find out more.

1
Min. Deposit
$50
Exclusive promotion
user-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
Bank Transfer, Wire 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
user-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 Google Pay commodities broker?

A commodity broker is a firm or person who makes trades on behalf of their users or clients, getting paid a commission in the process. Google Pay is a mobile payment service owned and operated by Google that’s accepted around the world for many different kinds of purchases.

Pros and cons

There are specific pros and cons that come with trading with Google Pay. Before registering, consider these benefits and drawbacks.

Pros

  • Convenient. If you already use it for everyday purchases, it’s easy to trade commodities with Google Pay. Just link your Google Pay account to your brokerage account and you can start trading.
  • Fast Deposits. Google Pay offers fast and easy transactions, so you can deposit money into your online trading account quickly and get trading right away.
  • Secure. Google Pay offers robust security features for all your transactions, and this is not different when it comes to using it to fund trades.

Cons

What are the fees and commissions when using Google Pay to buy and sell commodities?

It depends on the broker, and usually it’s similar to what you’ll see with other payment methods. The good news is that the most affordable trading platforms will charge little more than a few pounds per transaction, meaning you can preserve more of your funds to make trades.

What to look for when trading commodities with Google Pay

When shopping for a broker, make a checklist of top priorities that matter to you. Here are a few key traits to look for and the reasons why they’re important.

  • Low transaction charges. Choose a trading platform that charges the lowest fees possible. Put simply, the less you pay in fees, the more you can use to trade.
  • Security. You don’t want to risk having your hard-earned money or your financial and personal information get hacked, so make sure you’re signing up to a secure service.
  • Great customer service. The broker you choose should offer fast and helpful customer service, ideally 24/7.
  • Easy to use. You don’t want to waste time figuring out your broker’s trading interface. Find a platform that is intuitive so you can focus on trading.
  • A strong reputation. Look for good reviews and a respected track record when selecting a broker to handle your trades.

Is it safe to trade commodities with Google Pay?

Yes, it is generally secure, but this doesn’t mean you shouldn’t be careful. While Google Pay offers built-in security features that make it a safe option for all kinds of purchases, there are unregulated brokers around you need to be careful of. We have compared the best trading platforms to help you find the most reputable brokers so you know you’re using a service you can trust.

Do I need to provide ID when trading commodities with Google Pay?

Yes, when trading with Google Pay it is common to be required to provide ID documentation. This is because brokers usually comply with KYC (Know Your Customer) guidelines. Different platforms require different documents, but it is helpful to have a photo ID such as a driver’s license handy.

How to trade commodities with Google Pay

Each platform works slightly differently, but in general these are the steps you have to follow:

  1. Find the payments or deposits page on your commodities broker’s website or app.
  2. Select Google Pay as your preferred payment option.
  3. Enter your Google Pay account information.
  4. Enter the amount of money you wish to deposit into your commodities trading account.
  5. Click confirm.

FAQs

What are commodities?
What are soft commodities?
What commodities can I trade with Google Pay?
Are there limits to how much of a commodity I can trade with Google Pay?
What other payment methods can I use when trading commodities?
What is commodities trading?
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What charges are usually applied when buying and selling commodities?
What’s the best way for a beginner to learn about commodities trading?
What is Google Pay?
What are futures contracts?
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What is margin trading?
Is margin trading recommended for beginner commodities traders?

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 >

Jonah Keri
Financial Writer
Jonah Keri is a trader and analyst who spent 11 years at Investor's Business Daily covering the markets. He now writes about stocks, cryptocurrencies, and other… read more.