Compare the best commodities apps

Popular commodities like gold or oil can now be invested in and traded from your mobile device. Find out how this works and what the best commodity trading apps are.
Tip: our preferred broker is, eToro: visit & create account

As investing in commodities has become increasingly popular, the emergence of mobile apps has accelerated onboarding new investors. Now, there is no shortage of options for mobile users who want to get involved. With this in mind, we take you through the best apps for long-term commodity investing and short-term trading.

What are the best apps for investing in commodities?

Regardless of how you plan to invest, the same app offers both long and short term options. For example, you can day trade the price of gold for short-term gains, whereas, for the long term, you may buy into a gold ETF, gold weighted index, or take out a futures contract.

Top apps for commodities trading

No matter what commodity you buy into and in what form, the best commodity trading apps combine powerful tools and charts to help you spot key technical indicators with low fees to maximise your profits. Below are some of the best options we have tested.

101investing
Key Features
Winning Awards and 75+ stocks available
Full Education and cross-trading platform
No Fees or hidden charges
Min Deposit
$250
United States
Start Trading View key features
Key Features
Winning Awards and 75+ stocks available
Full Education and cross-trading platform
No Fees or hidden charges
Payment Methods
Bank Wire, Credit Card, Skrill, Neteller
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.
FOREX.com
Key Features
Access over 220 of the most popular company shares
Trade on spreads from 1 pt on UK shares
Go long or short on global top companies
Min Deposit
$50
United States
Start Trading View key features
Key Features
Access over 220 of the most popular company shares
Trade on spreads from 1 pt on UK shares
Go long or short on global top companies
Payment Methods
Debit Card, Bank Wire, ACH, Credit Card, PayPal
Founded in 1999, part of GAIN Capital Holdings. Licensed in highly regulated jurisdictions, FCA, IIROC, NFA, CFTC, CIMA,FSA. Payment methods ACH, debit card, bank wire transfer. $50 minimum deposit.
LonghornFX
Key Features
The broker offers access to a trusted MetaTrader trading system
Pricing is ensured to be completely transparent, also providing accuracy and speed
Trade a Wide Variety of Assets with Leverage up to 1:500
Min Deposit
$10
United States
Start Trading View key features
Key Features
The broker offers access to a trusted MetaTrader trading system
Pricing is ensured to be completely transparent, also providing accuracy and speed
Trade a Wide Variety of Assets with Leverage up to 1:500
Payment Methods
Credit Card, Debit Card, Visa, Bitcoin
LonghornFX is a true ECN STP broker dedicated to delivering a superior trading experience to traders no matter their level of experience. Their services are based on transparency, innovation and efficiency, ensuring an unparalleled trading experience for all.

What should I look for in a commodity trading app?

The three most important considerations are security, safety, and ease-of-use. In addition, there are many other elements you should factor in when picking an app to trade commodities. To help you out, we have listed some of the key things you should look out for when choosing one. 

Design and ease of use

A general advantage of mobile apps is that they can make certain activities easier, and this is true of commodities investing. However, not all apps are equal. The app with the clearest interface that is the easiest to use will save you time and effort, especially if you are a beginner, whereas, for more experienced users, a more complex app with powerful tools could be the way to go.

Reputation and regulation

Whenever dealing with your finances, you need to have confidence that the app you are using has a good reputation and is regulated effectively. To check an app’s reputation, read its reviews. In the UK, the FCA carefully regulates trading apps, but this will vary greatly based on the country you live in, so check the rules before you sign up.

In addition, commodities brokers are insured in case they go bankrupt to protect your assets, whilst long-term ISAs and IRAs are protected by government regulation. This will give you peace of mind, but make sure to check your app follows these rules before downloading it. 

Tools and charts

For traders who are looking to spot patterns and make good decisions, tools and charts form the backbone of their technical trading strategy. Therefore, if you want to trade commodities effectively, choose an app with a wide selection of charts and tools to help you spot trends as they unfold and position yourself appropriately. 

Fees and commissions

The cost of each app varies, and even apps that market themselves as ‘free’ have to make money somewhere. You can expect to see costs come in the form of trading, deposit, and withdrawal fees, whilst other apps will make their money from the spread, which is the difference between the buy and sell price they offer for a commodity. Make sure you are happy with an app’s fees before signing up.

Security

Keeping your money and assets permanently secure is a top priority for any commodities investor. So, some key security features to look out for include two-factor authentication, fraud protection and data protection compliance. While largely, mobile apps have been developed extensively to ensure good security, be cautious about using an app that neglects to include these features. 

Trading options

Mobile apps provide flexibility because they are portable, and to increase this flexibility further, there are a variety of trading options you can choose from. Here are some of the most popular ones. 

CFD trading

Contracts for difference (CFDs) are a means of speculating on the price of a commodity without owning it outright. They are popular because of the increased amount of leverage available, lower purchase cost, and also because buying and storing several barrels of oil is rather inconvenient. Major trading apps like Plus500 and eToro offer CFDs to users. 

Leveraged trading

Trading with leverage means you can make bigger trades with less up-front investment by borrowing capital from a broker. If you are experienced, this can be a great way of maximising your profits, but it equally increases your exposure to the market downside risk, so exercise plenty of caution. 

Spread betting

Just like a bookies, if you want to bet a broker whether the price of a commodity will fall or rise, this is the method of choice. Simply choose your stake and place a bet on where you expect the price of something to reach. 

Additional features

These can be a nice bonus for an app, but they can also be a real gamechanger. For example, demo accounts and tutorials can be a great way for novice traders and investors to learn the ropes without losing money. Before you sign up with an app, see what extra features it has to sweeten the deal. 

Quick answers to key questions

Can I trade commodities on Android and iOS devices?

Yes. The majority of apps are available on both operating systems and function exactly the same. A few are exclusive to one operating system, though it is easy to find out where you stand by searching for an app on the Google Play Store or the App Store. If it shows up, you’re in business. 

How much do commodities trading apps cost?

They are usually free to download. However, costs can come in many forms, including subscriptions fees and commissions/trading fees that usually range from 1-2%. So, make sure to check your app for a detailed breakdown of the costs and decide if they work for you.

Do I have to verify my identity with a commodities trading app?

Yes, there is usually some form of identity verification check for taxation and security purposes. It is likely that you will need to provide a copy of your photo ID and some contact details. 

Do apps charge fees for trading commodities?

Sometimes. It entirely depends on the platform, so some will charge a fixed rate, a percentage of the trade value or they may even make their money from the margin. While fees are much lower than they used to be, especially in the case of brokers, they remain an important consideration that you should make before choosing an app. 

Should I use a commodities trading app?

This depends on your own individual financial goals and needs. If you want to invest in or trade commodities, they are a great, accessible way of doing so on the move, or even while relaxing in bed. They bring flexibility to investment, and this is really helpful for busy retail investors. 

Still undecided?

If you’re still on the fence, we hope the below pros and cons of commodity apps can help you make up your mind. We have also included some final key questions to help set you on the right path.

Pros

  • Trade and invest in commodities and manage your portfolio regardless of where you are
  • Gone are the days of hiding gold beneath the floorboards; you can just store it in your mobile
  • No other practical way to benefit from rises and falls in commodity prices
  • Many apps are slimmed down and more accessible than full-blown websites, and this can be really helpful for beginners

Cons

  • Storing any apps containing financial information on your phone can be risky if you lose it or have it stolen, though this is no different to having your local banking app installed
  • Some apps don’t offer as many features as the main online versions on a website
  • By trying to fit a complex interface into a smaller package, some mobile apps can be fiddly

Should I buy commodities with an app now?

This all depends on the current market environment. For example, if there has just been a major development that could affect the price of silver, you ought to know about it before investing in silver! To keep informed with commodities news, check out some of the links below for our latest analysis:

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…
Gold prices fell over 1% on Friday to erase some of the gains made earlier in the week as a result of a surge in the U.S. Treasury yields and a stronger dollar. Fundamental analysis: Rising Treasury yields a concern Despite a selloff on Friday, gold prices closed higher on…
Crude oil prices opened the new week lower on renewed concerns related to supply and demand forecast.  Fundamental analysis: Uncertainty surrounding supply and demand outlook Brent crude futures and U.S. West Texas Intermediate (WTI) fell last week as investors were worried over the pandemic’s unclear impact on fuel demand and…

Where can I learn more about commodities?

We hate to brag, but the Invezz website is a great place to recieve an education in commodities. Moreover, it’s also a great place to learn about the stock market and even cryptocurrencies. To get started, why not check out our latest commodities news?

FAQs

ℹ Can I use multiple apps?
ℹ Are commodity apps legal?
ℹ Can I use commodity trading apps where I live?
ℹ Do I have to pay to use commodities apps?
ℹ Are there fees when buying commodities on an app?
ℹ Are mobile apps safe?
ℹ Are commodity apps regulated?
ℹ Do I have to pay tax on any money I make?
ℹ Can I short commodities on an app?
ℹ Can I try scalping on an app?
ℹ Can I hedge my investments?
ℹ Do apps integrate with online accounts?
ℹ What if I forget my password?
ℹ Will I lose my money if I uninstall a commodity app?
ℹ What are the risks of using commodity trading apps?
ℹ Can I use my PayPal account to deposit money on an app?
Written by: Charlie Hancox
Charlie joined the Invezz team in 2021. He previously worked in the mining and natural resources sector, providing in-depth analysis and incisive journalism. Charlie's experience with financial markets and investment reinforces a growing team.