Best Commodity Trading Platforms 2024
EToro is a popular social trading platform that offers access to different financial products like commodities, stocks, forex, cryptocurrencies, and indices. Its user-friendly interface makes it an attractive option for beginners who are looking to start trading commodities. EToro also provides real-time price charts and allows users to discuss different commodities with the eToro community. Interactive Brokers was designed with traders in mind — specifically those who trade at high volumes. For futures traders, high-volume accounts enjoy commission rates as low as $0.25 per futures contract, which is remarkably low compared to most competitors.
Best for Global Traders: Interactive Brokers
The majority of all trading orders are executed in less than one second, with no re-quotes and no rejections. You can trade long or short on a generous selection of popular commodities via intuitive platforms for all of your devices with all of the tools you need at your disposal. However, it can seem like an uphill task to find a suitable broker with so many brokers offering commodities trading. That is why we have compiled this commodity trading broker guide, to help you discover some of the best brokers for trading commodities online.
Best for Dedicated Futures Traders
A balanced and diversified portfolio helps to protect against one investment underperforming and may also smooth out the different levels of volatility. By the same token, if you are looking to invest for a longer period of time, such as for a pension, you may choose higher-risk options as your investments have time to recover from any dip in value. If you need to access your money at short notice, and your investments have temporarily fallen in value, you may be selling them at a bad time.
Pepperstone: Best Overall Broker For Trading Commodities
Commodities brokers typically offer a choice of investing vehicles, including CFDs, futures and stocks in companies involved in the manufacturing, sourcing, or processing of commodities. We’ve picked the best futures trading and commodities brokers by reviewing platforms, commissions and fees, tools, research and support. In choosing a broker, serious futures traders must balance low commissions, intuitive platforms, excellent customer service and up-to-date research options.
What types of investments are available?
They have good trading conditions with plenty of handy tools for conducting market analysis to find trading signals and make informed decisions. With IG, you can trade commodities anywhere, anytime on their award-winning platforms. They have a good range of energy markets including popular oils such as Brent Crude and US Crude. You can speculate on the price of precious and base metals including gold and silver. There are over 20 types of soft commodities that you can take a position on.
Datalign Advisory
For example, you can invest in energy future trading applications to buy oil, natural gas, and other agricultural futures, like wheat and coffee. Interactive Brokers https://www.trading-market.org/ offers global commodity futures over 30 market centers on the globe. Commodity assets for futures trading include agriculture, energy, currencies, metals, and softs.
Best for Active Futures Trading: EdgeClear
- The exchanges determine the minimum margin percentages and brokers are allowed to go above the exchange minimums, so you should check your broker’s requirements, which could change unexpectedly.
- Some brokers have a minimum amount of money that must be in an account before futures trading can take place.
- For futures traders, high-volume accounts enjoy commission rates as low as $0.25 per futures contract, which is remarkably low compared to most competitors.
- In this article, we explore the best commodity trading platforms, considering factors like user interface, available commodities, market access, trading tools, security and customer support.
- The futures pricing is attractive and the options commissions are even better.
- Alternatively, investments can be held in a stocks and shares ISA, which is tax-efficient as there is no income or capital gains tax to pay.
Over time, however, the purchasing power of money on deposit will be eroded by inflation. If a UK-registered savings account provider goes bust, account-holders are protected to the tune of £85,000 by the government-backed Financial Services Compensation Scheme. Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, researcher, and educator.
Once you’ve decided on a brokerage that supports futures trading, the next step is to open an account. 40 commodities are available with low fees and high-quality platforms in a secure investing environment. We also best commodity brokers consider non-investing fees as part of our comparison, as these can have an impact on profit margins. This includes deposit and withdrawal fees, account inactivity charges, and costs for accessing premium tools.
It boasts a user-friendly interface and allows new traders to get familiar with futures, stocks, and other trading strategies using interactive courses and in-depth articles. One of AvaTrade’s strengths is its dedication to helping traders develop their skills. Through educational resources, webinars, and market analysis, traders can stay informed and make confident decisions. AvaTrade’s platform is designed for ease of use, making it accessible to those new to the world of commodity trading. Mobile commodity trading, in particular, has become a more sought-after investment strategy driven by advancements in trading app technology and the demand for on-the-go market access. Commodity trading apps offer an accessible way for investors to access real-time commodity pricing, advanced charting tools, and social trading features like chat rooms.
The commission for trading an E-micro contract or an option on a micro is only a quarter, and Trader Workstation is almost infinitely tweakable, loaded with tools, data, research, and news. Unfortunately, I find setting up a layout on Trader Workstation that works for me to be needlessly frustrating. Happily, IBKR seems to understand that many traders want a simpler workspace, so it’s in the process of rolling out a new and aptly named IBKR Desktop app. Global Prime provide custom liquidity solutions for retail and institutional traders who are looking for transparent, flexible and cost-effective trading solutions. They use an ECN/NDD model with MT4 and FIX API trading platforms available. Online investment platforms have grown in popularity with investors, with some of the big names including Hargreaves Lansdown, AJ Bell and interactive investor.
FOREX.com and IG Group are highly trusted brokers available to U.S. forex traders. Look for brokers with a strong financial background and a solid track record in the industry. A reliable broker should have stable servers, minimal downtime and robust risk management systems in place. Check the broker’s policies and requirements for depositing and withdrawing funds. Look for brokers that offer convenient and secure methods of payment as well as reasonable withdrawal processing times.
Here at The Ascent, you can trust that we’re constantly evaluating our top broker picks to bring you current recommendations. Interactive Brokers caters to high-volume traders and is one of the cheapest way to trade futures on our list. We test these platforms to make sure they are well-designed with interactive charting and straightforward order management tools.
Before jumping in head first, thoroughly compare the different brokerage account offerings and features to ensure you pick the best one. All research, writing and data collection at StockBrokers.com is done by humans, for humans. Choosing the right commodities broker is crucial for success in the market. TD Ameritrade, Interactive Brokers LLC, IG US and eToro are some of the best commodity brokers in the U.S., each offering unique features and capabilities that cater to different types of traders and investors. Commodities trading is a lucrative market that offers tremendous opportunities for traders and investors alike.
It not only has the latest and greatest trading technology, but also has some of the most competitive pricing in the industry. Recognizing your trading style and what you aim to achieve in the future market is a critical step before selecting a broker. Whether your focus is on agricultural commodities, metals, or financial instruments, identifying your niche will guide you to the best brokers for futures trading that cater specifically to your interests. If you want to use NinjaTraders software, you can get it for free when you fund a brokerage account or you can lease the software. You will get access to charts, simulated trading, and market analysis, the essentials for futures trading, even if you get the software for free.