Compare the best brokers to trade commodities with Payoneer

It’s easier than ever to use Payoneer to fund your trading account and invest in commodities. Read this guide to find out the best brokers to use.
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

If you’re looking for a convenient way to fund your online commodities trades, Payoneer could be the way to go. This page takes you through the best brokers to use, and what to bear in mind when trading commodities.

Here are the best commodities brokers that accept Payoneer

To help your selection process, we’ve compiled a list of the best brokers that accept Payoneer as a method of payment. Simply follow one of these links to go to one of our trusted partners, or keep reading below if you want to learn more first.

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 Payoneer commodities broker?

They are simply online brokers that allow you to trade commodities using your Payoneer account. A broker is a firm or person who executes orders, getting paid a commission for doing so, and Payoneer is an online money transfer service used all over the world to pay for a variety of goods and services.

Pros and cons

There are benefits and drawbacks of trading in this way. Bear these in mind before signing up.

Pros

  • Easy to use. Payoneer is a fast, easy, and convenient way to make purchases, meaning it’s a reliable choice for trading online.
  • Fast Deposits. You can fund your brokerage account within minutes, allowing you to begin trading immediately.
  • Widely used. Provides cross-border transactions in 200 countries and territories, with a total of 4 million current customers. 

Cons

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

The fees charged for making trades will depend on what platform you sign up to. The best brokers around charge little more than a few pounds per transaction, but the level of commission applied can vary widely between brokers. We have compared the best brokers to help you find the best value services.

What to look for when trading with Payoneer

When shopping for a broker, here are a few key traits to look for.

  • Low transaction charges. Choose a broker that charges the lowest fees possible, as this means you keep more of your money to trade. 
  • Variety of commodities choices. Look for a trading platform that lets you trade all kinds of different assets with Payoneer. Having access only to a limited selection can block you from making profitable trades, or restrict the diversity of your investments.
  • Easy to use. You want to be able to trade with ease, so make sure to use an app with a user-friendly interface.
  • Speed. Look for a broker that will execute your purchases quickly and efficiently so you can take advantage of market movements.
  • Great customer service. In case something goes wrong, you want to be able to talk to someone at your broker. Look for a platform with a solid reputation for customer service.

Is it safe to trade commodities with a Payoneer broker?

Yes, as long as you’re using a reputable and regulated broker. Still, you should always seek out the highest levels of security possible, as different platforms have different security features. The best way to assess your options is to use our reviews to compare them.

Do I need to provide ID when I trade commodities with Payoneer?

Yes, you need to provide ID when. This is because brokers follow KYC (Know Your Customer) guidelines, so you’ll likely be asked to provide personal information when you sign up. That could include anything from your email address to a copy of your passport or driver’s license.

How to trade commodities with Payoneer

Most brokers require just a few simple steps to fund your online account. The steps vary from platform to platform, but usually go something like this.

  1. Find the payments or deposits page on your broker’s website or app.
  2. Select Payoneer as your preferred payment option.
  3. Enter your 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 Payoneer?
Are there limits to how much of a commodity I can trade with a Payoneer?
What other payment methods can I use when trading commodities?
What is commodities trading?
How can I keep up with the commodities market?
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 Payoneer?
What are futures contracts?
What are options contracts?
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.