Compare the best Venmo commodities brokers

Many online brokers now accept Venmo as a payment method for commodities trades. Find the best platforms right here.
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

Venmo can be a fast and easy payment method when trading commodities, particularly if you already use it as part of your day-to-day spending. Keep reading to learn more about the best brokers that accept Venmo payments.

Here are the best commodities brokers that accept Venmo

Click any of the links below to find some of the best trading platforms around. These are the best way to trade commodities with Venmo, and have been chosen by our team of financial experts. Otherwise, scroll down and keep reading if you need more information.

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 Venmo commodities broker?

They’re simply online services that allow you to buy and sell commodities using Venmo as a payment method. Venmo is a US-based mobile payment service that handles billions of dollars in personal transactions each year.

Pros and cons

Using any broker comes with various benefits and drawbacks. Here are the pros and cons to bear in mind.

Pros

  • Easy to use. Once you’ve linked your Venmo to your online broker account, buying commodities is quick and easy.
  • Fast. You can fund your account in minutes allowing you to begin trading assets such as gold and oil as soon as you like.

Cons

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

The best brokers charge little more than a few pounds per transaction. Read our guides to find the best platforms that offer great value so you can save more of your money for trading.

What to look for when trading commodities with Venmo

When selecting a commodity broker, you need to consider more than just ensuring they accept Venmo payments. Here are the factors to look into to make sure the platform provides a good service.

  • Low transaction fees. Keeping fees low frees up more of your money to make trades, so make sure your chosen platform has a competitive fee structure.
  • Variety of commodities available to trade. You don’t want to put all your money into one commodity, so look for a broker that offers a wide range of different assets.
  • Easy to use. Seek out a trading platform that’s as easy to use as possible. You want your broker to aid you in placing trades, not get in the way.
  • A strong reputation. The best brokers earn strong reviews from individual users as well as independent websites. You can start your vetting process right here on this site.
  • Great customer service. If things go wrong you need to be sure you can easily contact your chosen broker. Make sure they offer responsive customer service before signing up.

Is it safe to trade commodities with Venmo?

Yes, in general Venmo is a safe and secure way to fund commodity purchases. Different brokers have different security protocols though, so use our in-depth reviews to find the platforms that can be best trusted with your money.

Do I need to provide ID when I trade commodities with a Venmo broker?

Yes, you will likely need to provide some form of ID. Online commodities brokers follow KYC (Know Your Customer) guidelines, which means brokers usually ask for identification when you sign up. The identification required can range from an email address to a photo ID such as a passport.

How to trade commodities with Venmo

Most Venmo brokers require just a few simple steps to fund your online account, and the steps usually go like this:

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

FAQs

What are commodities?
What are soft commodities?
What commodities can I trade with Venmo?
Are there limits to how much of a commodity I can trade with a Venmo?
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 Venmo?
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.