We recommend trading with these 15 Best Commodities Forex Brokers to get the most out of trading metals, energies, agricultural goods and more.
The global economy is driven by the imports and exports of raw, natural resources and this asset class has become increasingly popular in financial markets over the years.
There are 4 main types of commodities:
Hard Commodities: (mined or extracted from the ground)
- Metals: (also called precious metals) includes silver, gold, platinum, palladium, copper, tin, zinc, iron ore and aluminium
- Energies: includes oil, coal, ethanol, uranium, natural gas, solar power and wind power
Soft Commodities: (grown and harvested)
- Livestock: primarily cattle
- Agricultural goods: cocoa, sugar, wheat, rubber, cotton, palm oil
There are 2 ways you can trade commodities:
- Commodity stocks: where you will buy stocks or shares in companies that distribute natural resources, farms, mining companies, refineries etc.
- Commodity ETFs: funds that will track instruments that will sometimes be used to buy underlying instruments
Many traders use commodities to diversify their portfolios and with the prices of these goods fluctuating constantly, there is always an opportunity to make a profit.
Pepperstone
Pepperstone is regulated by several entities, including CySEC, BaFIN, FCA and ASIC.
This broker requires a minimum initial deposit of 200 USD and accounts can be funded using AUD, HKD, EUR, NZD, USD, CHF, SGD, GBP or JPY.
As a Pepperstone client, you will be able to trade Forex, Commodities Crypto, Indices, ETFs and Shares on the MetaTrader platforms and cTrader.
Pros and Cons of Pepperstone:
| ✔️Pros | ❌Cons |
| Multiple regulations | Minimum deposit is high |
| Trading bonuses | |
| MetaTrader and cTrader support | |
| No inactivity fees |
Exness
Exness is regulated by FCA, FSCA, SFSA and CySEC, and facilitates the trading of Forex, Energies, Commodities, Stocks, Cryptocurrencies, Shares and Metals.
Exness offers a trading academy for beginners, but it is on a different website, and demo accounts are provided.
This broker is compatible with MetaTrader 4 and 5, and hedging and scalping are allowed.
Pros and Cons of Exness:
| ✔️Pros | ❌Cons |
| Minimum deposit is low | No promotional offers |
| 5+ base currencies | |
| Unlimited leverage | |
| Top-tier regulations |
ETX Capital
ETX Capital is an FCA-regulated broker that offers more than 5,000 CFDs and 24/7 customer support on live chat.
This broker offers one account that can be used to trade Shares, Forex, Commodities, Crypto Indices on Traderpro and MetaTrader 4.
ERX Capital is based in London and has been around since the 1960s.
Pros and Cons of ETX Capital:
| ✔️Pros | ❌Cons |
| Free withdrawals | 3 funding currencies |
| Beginner-friendly broker | |
| 5,000+ Stock CFDs | |
| Variety of trading tools |
XTB
XTB offers its own intuitive trading platform called xStation 5 and facilitates the trading of ETFs, CFDs, Stocks, Indices, Forex, Crypto and Commodities.
This broker gives clients the option to use demo accounts and swap-free accounts, and accounts can be funded using PLN, HUF, GBP, USD or EUR.
We recommend XTB for traders with all levels of experience.
Pros and Cons of XTB:
| ✔️Pros | ❌Cons |
| Large client base | Inactivity fee |
| 2,000+ instruments | No US clients |
| Trading academy | |
| No minimum deposit |
Alpari
Alpari was founded many years ago and this broker is trusted by millions of clients.
We recommend Alpari to anyone who is interested in copy trading, and it is also a suitable option for clients of the Muslim faith.
Alpari clients can benefit from a referral program and this is also a great option for clients who are new to trading.
Pros and Cons of Alpari:
| ✔️Pros | ❌Cons |
| Trading bonuses | 4 base currencies |
| Beginner-friendly | No crypto |
| 300+ instruments | |
| 2mil+ clients |
HYCM
HYCM is a beginner-friendly broker that is regulated by DIFC, CIMA, CySEC and FCA.
With HYCM, you can trade Commodities, Stocks, Indices, ETFs, Cryptocurrencies and Forex on the MetaTrader platforms and a variety of trading tools are provided.
HYCM also has a great VIP program, as well as account managers, analytics tools and more.
Pros and Cons of HYCM:
| ✔️Pros | ❌Cons |
| 300+ instruments | Not available in US |
| Many classes of assets | Inactivity fees |
| Tier-1 regulations | |
| Negative Balance Protection |
OctaFX
OctaFX is a great option for beginners and provides plenty of guides, videos and trading courses.
The minimum deposit requirement at OctaFX is 100 USD and accounts can be funded using EUR or USD.
This broker is regulated by FSA and SVGFSA, and is available in more than 100 countries.
Pros and Cons of OctaFx:
| ✔️Pros | ❌Cons |
| MetaTrader support | High minimum deposit |
| Low spreads | Only 2 currencies can be used to fund accounts |
| Beginner-friendly | |
| 6mil+ clients |
GO Markets
This broker offers 2 types of accounts for trading and you will have access to many markets in Indices, Forex, Metals, Commodities and Shares.
At least 200 USD is required to begin trading with GO Markets and you can use NZD, CHF, EUR, AUD, USD, HKD, CAD, SGD or GBP to fund your account.
Pros and Cons of GO Markets:
| ✔️Pros | ❌Cons |
| 5+ base currencies supported | No swap-free account |
| MetaTrader support | Inactivity fees |
| Free VPS | High minimum deposit |
IG
IG is regulated by several entities, including JFSA, ASIC, FCA, CFTC and FINMA.
This broker offers Crypto, Shares, Commodities, Forex and Indices, as well as a trading academy and a demo account for beginners.
IG is a great option for professional and institutional traders and currently has more than 300,000 clients.
Pros and Cons of IG:
| ✔️Pros | ❌Cons |
| 5+ funding currencies | Minimum deposit is high |
| Many regulations | Maximum leverage is low |
| Compatible with MetaTrader | No swap-free accounts |
Plus500
Plus500 accepts many currencies for account funding, with a total of 14 currencies that can be used, and a minimum deposit of 100 USD is required,
This broker is regulated by several entities, including CySEC, FCA and ASIC, and offers an innovative proprietary trading platform.
Plus500 is suitable for beginners and offers a variety of risk management tools, trading alerts, charts, analysis tools and more.
Pros and Cons of Plus500
| ✔️Pros | ❌Cons |
| 10+ base currencies | No MetaTrader support |
| Negative Balance Protection | Inactivity fees |
| Tier-1 regulations | No US clients |
| Multiple accounts |
FxPro
With FxPro, you can trade Forex, Metals, Crypto, Energies, Shares and Indices, and accounts can be funded using AUD, CHF, PLN, ZAR, USD, JPY, EUR or GBP.
FxPro is regulated by CySEC, FCA and FSCA and is based in the UK.
FxPro offers one multi-purpose account that can also be used as a demo account or a swap-free account.
Pros and Cons of FxPro:
| ✔️Pros | ❌Cons |
| Many base currencies for account funding | No trading bonuses |
| Regulated by CySEC | Inactivity fees |
| 260+ instruments |
Saxo Bank
Saxo Bank clients can get more out of their trades with the loyalty program and this broker is suitable for more experienced traders.
Saxo Bank offers 3 account types with different tiers and has a client base of nearly 1 million traders.
Saxo Bank is regulated by FCA, MAS, JFSA, FSA, FSC and ASIC and offers 2 proprietary trading platforms.
Pros and Cons of Saxo Bank:
| ✔️Pros | ❌Cons |
| 40,000+ instruments | High minimum deposit |
| Flexible accounts | Educational content is lacking |
| 15+ base currencies | Penalty fee for inactivity |
| Many regulations | No MetaTrader support |
FXCM
FXCM is compatible with more than 3 platforms, including some of the most popular mainstream trading platforms, such as NinjaTrader, Trading Station, MetaTrader, ZuluTrade and more.
FXCM is regulated by 3 entities, including ASIC, and clients can benefit from cash rebates and a referral program.
This broker is also an excellent option for beginners and offers many trading guides, eBooks, videos and tutorials.
Pros and Cons of FXCM:
| ✔️Pros | ❌Cons |
| Low minimum deposit | 4 base currencies |
| ASIC-regulated | Inactivity fees |
| Trading bonuses | |
| Many platforms |
easyMarkets
easyMarkets is regulated by 3 top-tier agencies and facilitates the trading of Shares, Metals, Indices, Commodities, Forex and Crypto.
This broker accepts more currencies for funding than most other brokers do and is compatible with MetaTrader 4, TradingView and the proprietary easyMarkets trading app.
Pros and Cons of easyMarkets:
| ✔️Pros | ❌Cons |
| 19 funding currencies | No US clients |
| Plenty of educational resources | |
| Low minimum deposit |
eToro
eToro has 17 million clients and is regulated by ASIC, CySEC and FCA.
This broker requires an initial deposit of 50 USD and accepts RUB, JPY, CAD, AUD, EUR, GBP, CNY and USD as funding currencies for accounts.
We recommend eToro to beginners and there is an entire trading academy available with all the educational resources you could possibly need.
Pros and Cons of eToro:
| ✔️Pros | ❌Cons |
| Beginner-friendly | No MetaTrader support |
| Low minimum deposit | High trading fees |
| NASDAQ100 broker | |
| Massive client base |
Conclusion
Trading commodities is a great way to get market exposure and can really help you develop a more diversified investment portfolio, so we recommend opening an account with one of these 15 Best Commodities Forex Brokers.
There are many benefits and opportunities to trading commodities and we hope that one of the brokers we have listed in this review will help you achieve your trading goals.
Good luck with your trading!
Disclaimer
Remember, 75% of retail investors lose money when trading CFDs and there is a high risk of losing your capital in the forex markets.
The information on this website is in no way intended to be used as financial advice and opening an account with any broker is done at your own discretion and risk.
