Commodities Trading

Commodities are a diverse asset class frequently used to hedge in investment portfolios or to generate profits in speculative trades. Comprising everything from trading oil to orange juice, the commodities business is not always easy for beginners to learn, but there are rich rewards for those who do. This guide will serve as an introduction to trading commodities, listing the different types of assets, how they are traded, and popular strategies. We also list the top commodities brokers in 2024.

Best Commodities Brokers

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    AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.

  2. XTB

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    Founded in 2002 in Poland, XTB now serves more than 935,000 clients. The forex and CFD broker combines a heavily regulated trading environment with an extensive selection of 5,600+ assets and a commitment to trader satisfaction, featuring an intuitive in-house platform with superb tools to support aspiring traders.

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    Established in 1989, CMC Markets is a respected broker listed on the London Stock Exchange and authorized by several tier-one regulators, including the FCA, ASIC and CIRO. More than 1 million traders from around the world have signed up with the multi-award winning brokerage.

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    Eightcap is an award-winning, FCA-regulated broker offering industry-low trading fees. They are also the highest-rated brand by TradingView’s 50 million-strong users, who can trade directly on the platform. UK traders can sign up for a live account with an accessible £100 minimum deposit.

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    FXCC is an established broker that’s been offering low-cost online trading since 2010. Registered in Nevis and regulated by the CySEC, it stands out for its ECN trading conditions, no minimum deposit and smooth account opening that takes less than 5 minutes.

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    Spreadex is an FCA-regulated broker that offers spread betting opportunities on an impressive 10,000+ CFD instruments including 60 forex pairs. Traders can also take short-term positions on sporting events. The brand has been around for over 20 years and has won multiple awards.

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    Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for traders at all levels.

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    Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.

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    IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.

  10. XM

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    XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.

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    City Index is an established and award-winning forex, CFD and spread betting broker with top-tier global regulation, including in the UK (FCA) and Australia (ASIC). With 30+ years in the industry, 13,500+ instruments and 24/5 customer support, City Index is a solid pick for aspiring traders.

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    DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, St Vincent and the Grenadines. Traders can access 250+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.

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    Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.

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    eToro is a top-rated multi-asset platform which offers trading services in thousands of CFDs, stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. The brand is particularly popular for its comprehensive social trading platform. Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply. 76% of retail CFD accounts lose money.

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    RoboForex is an online broker, established in 2009 and registered with the IFSC in Belize. Traders can choose from five accounts (Prime, ECN, R StocksTrader, ProCent, Pro) catering to different needs with trades from 0.01 lots and spreads from 0 pips. RoboForex has also enhanced its offering over the years, adding CFD instruments and launching its stock trading platform, plus the CopyFX system.

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    InstaForex is a forex and CFD broker founded in 2010. The broker offers diverse market coverage to millions of clients, spanning traditional assets like currencies and shares, as well as other interesting opportunities such as IPOs.

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    OANDA is an award-winning global broker, established in 1996. The hugely respected brand offers competitive trading accounts and serves clients from 196 countries. It remains a popular option with both beginners and experienced traders thanks to its user-friendly and sophisticated web platform, no minimum deposit and premium currency products and services. The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO.

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    Trade Nation is a top FX and CFD broker regulated in multiple jurisdictions including the UK and Australia. The firm offers low-cost fixed and variable spreads on 1000+ assets with robust trading platforms and training materials. The Signal Centre can also be used for trade ideas.

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    Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

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    BlackBull is a New Zealand-based CFD broker with trading opportunities on forex, stocks, indices, commodities and cryptos. The broker supports the MetaTrader 4 and 5 platforms as well as TradingView, cTrader and a proprietary mobile app. Clients can trade with high leverage and tight spreads from 0 pips on the broker's ECN accounts.

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    Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.

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    Founded in 2006, FxPro is an established forex, CFD and spread betting broker offering 2100+ assets to over 2 million clients worldwide. The broker is regulated in 4 jurisdictions and offers reliable 24/5 customer support, earning it a high trust and safety score. FxPro has also picked up more than 100 industry accolades for its competitive trading conditions, including fast execution and deep liquidity.

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    Established in 2008 and headquartered in Israel, Plus500 is a prominent brokerage that boasts over 25 million registered traders in over 50 countries. Specializing in CFD trading, the company offers an intuitive, proprietary platform and mobile app. It maintains competitive spreads and does not charge commissions or deposit or withdrawal fees. Plus500 also continues to shine as one of the most trusted brokers with licenses from reputable regulators, including the FCA, ASIC and CySEC.

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    Fusion Markets is an online broker established in 2017 and regulated by the ASIC, VFSC and FSA. It is best known for its low-cost forex and CFD trading, although its multiple account types and copy trading solutions cater to a range of traders. New clients can sign up and start trading in 3 easy steps.

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    Founded in 2001, easyMarkets is a multi-regulated forex broker offering leveraged trading opportunities on forex, stocks, indices, commodities and crypto. With fixed spreads, an affordable initial deposit, regulation from several reputable bodies and a diverse selection of account currencies, this broker provides simple and straightforward trading solutions to a diverse range of traders.

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    Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.

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    GO Markets is an established forex and CFD broker with multiple industry awards and accolades. The ECN/STP broker is popular with budding traders, offering competitive accounts in multiple base currencies and a range of flexible payment methods. With top-tier regulation from CySEC and ASIC, GO Markets is a trusted broker.

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    Founded in 2008, NordFX is an offshore CFD broker offering forex, stock, commodities, indices and crypto trading to over 1.7 million clients in 190 countries. Traders access markets through the MT4 and MT5 platforms and benefit from low commissions, spreads from zero and decent extra features. Minimum deposits start from just $10 and very high leverage is available up to 1:1000.

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    IQCent is an offshore binary options and CFD broker based in the Marshall Islands. The brand continues to offer a range of unique account types with bonuses and perks, including payout boosts, TradeBacks and free rollovers. With 100+ assets, around-the-clock trading and 98% payouts, the firm is popular with aspiring short-term traders.

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    Markets.com is a respected broker, offering multi-asset trading opportunities through CFDs or spread betting (UK only). Established in 2008, the brand has an impressive 4.3 million registered customers and is overseen by trusted regulators, including the FCA, ASIC and CySEC. 79.1% of retail accounts lose money.

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    NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.

  32. Axi

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    Axi is a global forex and CFD trading firm, founded in 2007 in Sydney, Australia. Highly leveraged trading opportunities plus a $0 minimum deposit make it a popular choice among 60,000+ traders worldwide. Axi also stands out for its resources, including copy trading and Autochartist.

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    EagleFX is a forex and CFD broker, established in 2019. The broker uses STP execution on the MT4 platform, offering tight spreads and low commissions. With leverage up to 1:500 and no restrictions on hedging or scalping, EagleFX is an attractive option for short-term traders.

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    Founded in 2015, VT Markets maintains its position as a top Australian multi-asset CFD broker. With 1000+ tradeable instruments and support for the MetaTrader 4 and MetaTrader 5 platforms, this broker delivers a wide range of trading opportunities to over 200,000 clients worldwide. VT Markets is regulated by the ASIC, FSCA, and SVGFSA.

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    Tradeview is an offshore forex and CFD broker based in the Cayman Islands and regulated by CIMA. Traders can access over 5000 instruments with a minimum deposit of $100. There are several third-party platforms on offer, including MetaTrader 4 (MT4) and cTrader.

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    PrimeXBT is a multi-asset platform offering highly leveraged trading in forex, indices, commodities and cryptocurrencies. The company launched in 2018 and now has over 1 million users from more than 150 countries. With no minimum deposit, copy trading features and low commissions, the broker remains a popular option among crypto trading novices.

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    FXDD is an established forex and CFD broker founded in 2002. Regulated in Malta, Mauritius, Peru and Malaysia, the broker provides secure trading platforms, competitive ECN spreads and reliable 24/7 customer support. Competitive pricing and ultra-low latency is also offered via the broker's Direct Market Access execution model and tier 1 aggregated liquidity.

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    FXTrading.com is global broker offering highly leveraged CFDs on 10,000+ assets, including forex, stocks, indices, commodities and cryptocurrencies. Competitive prices with raw spreads and low to zero commissions are available. Traders can use the popular MetaTrader 4 platform and will have access to a suite of additional analytical tools and other resources. The multi-regulated brokerage is authorized by the ASIC and VFSC.

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    Founded in 2010, ThinkMarkets is a reputable CFD and forex broker with regulation from several top-tier bodies including the FCA and ASIC. The broker provides services to over 450,000 accounts from 11 global offices. Traders can use a bespoke platform, MT4 or MT5 to access a wide variety of assets including 3500+ stocks and ETFs, 46 forex pairs and over 20 cryptocurrencies.

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    M4Markets is an award-winning broker regulated by the CySEC, FSA and DFSA. Although relatively new, the broker continues to improve its offering with a range of innovative tools, platforms and accounts. Beginners can start with just $5, whilst experienced investors can access leverage up to 1:5000.

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    Trade.com is a trustworthy online broker with a global presence. The broker offers 2,100+ CFDs in major markets, as well as futures, options and more. The broker offers best-in-class platforms and superior analysis tools for experienced traders. The broker is also regulated by top-tier authorities including the FCA and CySEC.

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    Grand Capital is a MetaTrader broker with welcome bonuses, trading competitions and an intuitive copy trading service. Several account types and 400+ assets provide trading opportunities for various types of investors and strategies. New users can also open an account and start trading in a matter of minutes.

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    IronFX is a multi-regulated forex and CFD broker founded in 2010. This award-winning firm offers 500+ markets to over 1.5 million clients across 180 countries. Traders can access various account types with competitive pricing on the MT4 platform, as well as 24/5 customer support in 30 languages.

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    Ingot Brokers is a multi-regulated brokerage established in 2006. The broker offers CFD trading opportunities on 1000+ instruments including forex, stocks, indices, commodities and cryptocurrencies. The broker supports the MetaTrader 4 and MetaTrader 5 platforms and offers both raw spreads and commission-free account options.

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    FXCM is a respected forex and CFD broker, established since 1999. The British-headquartered broker has won multiple awards and operates in various jurisdictions, including the UK and Australia. With zero commissions, over 400 assets, and a range of analysis tools, FXCM remains a popular choice for traders. The broker is also regulated by top-tier authorities including the FCA and ASIC.

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    Scope Markets offers trading and investing in multiple spot and CFD instruments. The group of brokers is regulated in several locations, including Belize, Kenya and South Africa. Users get competitive trading conditions, a range of payment methods, strong support and can get started in a few straightforward steps.

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    Dukascopy is an online broker operated by a Swiss-regulated banking group. It offers a good selection of 500+ markets, with forex, stocks, gold, ETFs, indices, bonds and cryptocurrencies available. It also offers flexible trading opportunities through the choice of CFDs or binary options. Traders will use MetaTrader 4 or a proprietary platform that is well-suited to automated trading.

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    FinPros is an offshore broker that provides CFD trading on 400+ instruments with high leverage up to 1:500. This is a reliable bet for traders seeking offshore options, with strong security measures, negative balance protection and segregated client funds. The extra features including trading tools and commission-free stocks make this a good choice for beginners, and experienced traders will appreciate tight spreads.

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    4xCube is an online forex and CFD broker registered and licensed in the Cook Islands. Clients can trade on popular financial markets and choose between three accounts based on their capital and trading strategy.

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    AZAforex is a multi-asset broker founded in 2016. The brand offers a sophisticated proprietary platform, ECN trading and 40+ deposit methods. The brokerage has 120,000+ registered customers with copy trading and a VPS.

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    Uphold is a digital asset platform offering a range of services, from crypto trading and staking to payment cards that provides rewards and easy multi-currency payments. The company was established in 2015 and has enabled $4+ billion in transactions. Uphold is now active in 180+ countries and deals in 200+ crypto and fiat currencies.

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    Launched in 2017, Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.

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    RockGlobal is a New Zealand based and regulated CFD broker. They offer competitive spreads from 0.1 pips and a large range of trading assets, trading platforms and educational services, with up to 1:500 leverage. Operating in a Tier 1 regulated environment, RockGlobal offers peace of mind and excellent customer support.

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    FXTM is a top-rated forex and CFD broker established in 2011 and operating across 4 continents. The company is secure and regulated by leading authorities, including the FCA and CySEC. Offering 1000+ trading markets and three account types, they cater to all levels of trader.

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    ForexChief is a foreign exchange and CFD broker, established in 2014. The company is based offshore and registered with the VFSC and FMA. Users can choose between a wide selection of accounts and base currencies, making ForexChief accessible to global traders. The brand also stands out for its no deposit bonus and fee rebates for high-volume traders.

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    Kwakol Markets is a Nigerian headquartered broker with strong regulatory oversight in Australia and Canada. A great selection of trading assets are available, including synthetic products that simulate realistic market activity. Clients can trade on the MT4, MT5 and cTrader platforms, as well as a copy trading solution whereby a fee is only paid on profitable trades.

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    GoFX is an unregulated CFD and forex broker that covers instruments from currency, stock, index, commodity and crypto markets. Traders can sign up to a variety of account types with deposits as low as $1 and will trade using the popular MetaTrader 4 platform. Exceptionally high leverage up to 1:3000 is offered on the standard account, while traders with the low-spread account can access leverage up to 1:1000.

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    Axofa is a forex and CFD broker registered in St Vincent and the Grenadines. The broker offers three account types with access to forex, commodities and indices. With ECN processing, low minimum deposits and no commissions, Axofa remains an attractive option, although the broker does not hold a reputable license.

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    Focus Option is an offshore broker that specializes in binary options as well as CFDs. Binary options trading on forex, cryptos and three commodities is done through the broker's simple web-based platform with average payouts between 70% and 95%. The broker also offers a mobile app for trading CFDs, with 300+ tradeable instruments.

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    SageFX is an offshore, unregulated CFD broker that offers highly leveraged trading on forex, stocks, commodities, indices and crypto via the TradeLocker platform. Traders can access commission-free trading or an ECN account with tight spreads. While the broker's regulatory status is weak, it does provide segregated accounts and two-factor authentication.

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    MultiBank FX is an established broker offering forex and CFD products since 2005. With 20,000+ instruments, plenty of local payment methods and 24/7 multilingual customer support, the broker is a popular choice among traders globally. New clients can also access a variety of bonus offers and access the hugely popular MT4 and MT5 trading platforms.

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    Pacific Union Prime is an FSCA and offshore-regulated multi-asset broker offering competitive fees and direct market access on forex, commodities, stocks, bonds and indices. The broker supports the popular MetaTrader 4 and MetaTrader 5 platforms and a proprietary mobile app. Fees vary by account type with no commission and spreads from 1.9 pips on the Standard account and $7 commission per lot and spreads from 0.4 pips on the Prime account.

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    SimpleFX is an online broker specializing in CFD and cryptocurrency trading, with multi-currency accounts, STP execution, low pricing and no minimum deposit. Bringing innovation and gaining recognition at numerous industry events since 2014, SimpleFX now caters to retail traders from over 190 countries, boasting a client base exceeding 200,000 active users.

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    Errante is a Cyprus-based and regulated forex and CFD broker with leveraged trading on multiple assets, tiered accounts including a zero-spread option, and copy trading support. The broker offers leveraged trading up to 1:30 under its CySEC-regulated branch and 1:500 from an offshore branch, and supports the MetaTrader 4 and MetaTrader 5 platforms. Errante's asset list is relatively limited but it does offer fast execution and low latency, and it is a trustworthy brand.

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    ActivTrades is a UK-headquartered CFD and forex broker established in 2001. The brokerage is heavily regulated with licenses from the FCA, SCB, CSSF, BACEN & CVM and CMVM. Over 1000 CFDs are available spanning 7 asset classes. Over 93.60% of orders are executed at the requested price. ActivTraders also offers a selection of leading trading platforms, including MT4, MT5, TradingView and ActivTrader platforms.

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    Swissquote is a Switzerland-based bank and broker that offers online trading and investing. The company has a high safety score and is listed on the Swiss stock exchange. The firm offers a huge range of products, from stocks, ETFs, bonds and futures to 400+ forex and CFD assets. Hundreds of thousands of traders have opened an account with the multi-regulated brokerage. Clients can get started in three easy steps while 24/7 customer support is available to assist new users.

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    FXPrimus is an award-winning CySEC-regulated brokerage offering CFD trading on 200+ instruments via the MetaTrader 4, MetaTrader 5 and cTrader platforms. The choice between a competitive commission-free account and two affordable raw spread options make this an accessible broker for anyone seeking forex, stocks, indices and commodities with high leverage.

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    Established in 2005 in Australia, FP Markets is an ASIC- and CySEC-regulated broker boasting an extensive suite of tradable assets. Its Standard and Raw accounts cater to traders at every level, while it packs a punch in the tooling department, from the MetaTrader suite and intuitive TradingView to actionable trading ideas from Trading Central and AutoChartist.

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    Core Spreads is an FCA-licensed broker offering CFD and spread betting opportunities on a proprietary platform or MetaTrader 4. Traders can access more than 1000 instruments, including company shares, commodities, indices and forex. Spread bets have fixed spreads that start from 0.4 with no commission, while CFDs start from 1 pip plus a $1.50 charge per lot.

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    Anzo Capital is an offshore broker that offers leveraged CFDs on 100+ instruments including forex, stocks, indices and metals. The MetaTrader 4 and MetaTrader 5 platforms are supported, and traders can choose between an STP account with spreads starting from 1.4 pips and zero commission, or an ECN account with a $4 round-turn commission and spreads from zero. A decent range of payment methods are accepted, including crypto deposits.

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    HYCM is an online broker with authorization from four international bodies including the FCA and CySEC. The broker offers short-term CFD trading on forex, shares, commodities, indices, ETFs and Bitcoin, and supports the MT4 and MT5 platforms, as well as Trading Central analysis.

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    Global Prime is a multi-regulated trading broker offering 150+ markets. Traders can get started with a $200 minimum deposit and trade with leverage up to 1:100. The firm also has a high trust score and a good reputation with a license from the ASIC.

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    Fortrade is a multi-asset, multi-regulated broker with branches regulated by the FCA, CySEC and ASIC among others. The brand offers trading opportunities on a wide range of instruments including stocks, bonds, commodities, forex, indices, cryptocurrencies and ETFs, with competitive fees and support for MetaTrader 4 and a proprietary platform.

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    Hantec Markets was established in Hong Kong in 1990. Initially, the company concentrated solely on the Chinese and Taiwanese markets. In 2008, the broker rebranded and expanded its presence in the UK, Australia, Japan, and various other countries, before enhancing its footprint in Latin America in 2022. Hantec now stands as a multinational brokerage with 18 offices across Europe and Asia.

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    FXOpen is a multi-asset broker with regulation from several trustworthy bodies including the UK's FCA. The broker offers CFD trading on forex, stocks, commodities, indices, cryptocurrencies and ETFs via the MetaTrader 4 & 5 and TradingView platforms.

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    Libertex is a well-known broker, established in 2012. The regulated brand has served numerous clients and is regulated by the Cyprus Securities and Exchange Commission with license number 164/12. Libertex offers CFD trading on 250+ underlying assets, including through an innovative and user-friendly proprietary web trader platform. Choose between CFDs on forex, cryptocurrencies, commodities, stocks, indices and ETFs, which are available with tight spreads and low commissions.

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    Admirals is an FCA- and ASIC-regulated broker with an excellent range of leveraged instruments, including forex, stocks, indices, ETFs, commodities, cryptos and more. The broker supports the MetaTrader 4, MetaTrader 5 and TradingCentral platforms. With both spread betting and CFDs available and thousands of instruments, this broker provides more flexibility than most rivals.

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    TMGM is an ASIC-regulated forex and CFD broker with a vast range of tradeable assets covering forex, stock, index, crypto and commodity markets. The account types on offer provide a flexible choice between no commission or zero spreads, with competitive pricing all-round.

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    Infinox is a UK-based and FCA-regulated broker that offers diverse trading products thanks to its STP and ECN account types and support for MetaTrader 4, MetaTrader 5 and a proprietary platform. Clients can also benefit from a free VPS that can support automated strategies and a social trading platform, catering to both beginner and seasoned traders.

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    Baxia Markets is an offshore CFD broker that offers trading on forex, commodities and indices with tight spreads on a straight-through processing model with ultra-low latency. Trade on MetaTrader 4 or MetaTrader 5 with leverage up to 1:500 and no restrictions to scalping or hedging strategies. Users also benefit from third-party copy trading services.

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    Revolut is a popular financial app that also offers trading on stocks, metals and digital currencies. The brand has over 25 million users worldwide with a choice of accounts, tools and services to suit different needs and budgets, including online investing and currency exchange.

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    OspreyFX is an ECN broker headquartered in St. Vincent and the Grenadines. Established in 2019, the firm offers 120+ forex and CFD assets with high leverage up to 1:500, tight spreads from 0.1 pips and round-the-clock customer support. OspreyFX also stands out for its funded trading accounts where traders can keep up to 70% of profits.

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    LonghornFX is a forex and CFD broker offering over 150 instruments with leverage up to 1:500. The firm is registered in Saint Vincent and the Grenadines and was launched in 2020. Clients can access a strong selection of cryptos, alongside forex, indices, commodities and stocks. With ECN/STP processing, this offshore broker promises tight spreads and fast execution.

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    RoboMarkets is a Cyprus-based forex, CFD and stock broker aimed at traders from Europe. The broker offers thousands of instruments across six asset classes and provides access to four leading platforms, including MetaTrader 4. With ECN pricing, Cent accounts and algorithmic trading tools, RoboMarkets caters to a range of trading strategies and investing styles.

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    AdroFx is an offshore ECN/STP broker that has offered CFD trading since 2018. The firm supports 100+ tradable assets on the popular MetaTrader 4 platform as well as a web trader, Allpips. Eight live accounts are available with no restrictions on trading strategies.

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    Coinexx is an unregulated broker that provides leverage up to 1:500 on forex, commodities, indices and cryptocurrencies with deep liquidity, pure ECN spreads and negative balance protection. The broker uses crypto as base currencies and has low minimum deposit requirements of 0.001 BTC.

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    EZ Invest is a CySEC-licensed broker, launched in 2008, that offers trading on popular financial markets through leveraged CFDs. Traders can choose between multiple respected platforms, including MetaTrader software and a user-friendly in-house app. The reliable multilingual customer support team are also on-hand to support new users.

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    Saxo Markets is a multi-award-winning trading brokerage, investment firm and regulated bank. With a huge 72,000+ trading instruments, plus investment products and managed portfolios, clients have no shortage of opportunities. The trusted brand also offers transparent pricing and top-tier regulatory protection from 10+ agencies including FINMA, FCA & ASIC.

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    Established in 2013, SuperForex is an offshore CFD and forex broker offering highly leveraged trades on 400+ instruments via the popular MetaTrader 4 platform. The broker has gained clients in over 150 countries and is regulated by the Belize IFSC. With a range of STP/ECN account types, including swap-free, micro and zero spread, this broker continues to suit traders with different styles and setups. SuperForex also offers a range of welcome bonuses and trading contests.

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    Amega is an offshore STP broker offering CFD trading on forex, stocks, indices and commodities with very high leverage up to 1:1000 and a zero-commission pricing structure. Traders access markets through the MT5 platform and can test the broker's services through a demo account.

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    Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.

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What Are Commodities?

In trading, the term ‘commodity’ usually refers to raw materials or basic products that are used for manufacturing purposes. Precious metals like gold and silver are also classed as commodities, regardless of whether they are used to make other products or held as a store of value.

Some of the best-known commodities are oil, gold and wheat, but the list of commodities on offer at the best brokers is long and there is a roaring trade on things like butter, pepper and even orange juice.

In general, commodities can be divided into three basic categories:

  • Metal assets include gold and silver, but also everything from nickel to palladium.
  • Energy assets such as oil, natural gas and coal, but also fuel and other products derived from these raw materials.
  • Agriculture assets comprise a long list of crops and livestock produced in the agriculture sector, from beef and milk to soybeans and cotton.

Another way commodities are often defined is as ‘hard’ or ‘soft’ commodities:

  • Hard commodities are usually natural resources that are extracted from the earth through mining, drilling or a similar process. Hard commodities include: Gold, Silver, Palladium, Platinum, Natural Gas, Nickel, Copper, Oil, Iron, and Zinc.
  • Soft commodities are products such as grains, meat and dairy products that are produced by the agricultural sector. Soft commodities include: Soybeans, Orange Juice, Live Cattle, Lean Hogs, Corn, Rice, Wheat, Coffee, Cotton, Butter, Sugar and Cocoa.

The range of commodities traded by professionals is nearly endless, but usually, those available to the retail market is more limited. Below are some examples of the most popular commodities offered by online brokers:

Gold

Humans have been mining, trading and hoarding gold since time immemorial, making it one of the best-known commodities. Gold trading is an attractive prospect for both traders and investors as its status as a store of value means its price will often move in the opposite direction to the rest of the market.

Crude Oil

Crude oil is one of the driving forces of the world economy as it is both a primary energy source and the raw material used in countless industrial and manufacturing processes. The crude oil benchmarks are Brent crude and US West Texas Intermediate crude, and the main producers are the United States, Saudi Arabia and Russia.

Oil is a popular commodity among traders, who favour its highly liquid market and look to benefit from the profit-making potential of its high volatility.

Oil prices are highly tuned in to the global economy as a whole – as was evident during the early stages of the Covid-19 global pandemic in 2020, when oil prices in the US sank to negative figures due to the sudden drop in demand.

Soybeans

As one of the most popular agricultural products in developing countries such as China, the soybean market has been steadily growing over the years and trade in this commodity has also increased.

Soybean prices are usually tied to the price of other agricultural crops such as wheat, and factors such as weather can have a strong impact. The USA dominates the soybean trade, and the Chicago Mercantile Exchange is the main marketplace for this commodity.

Commodities Trading For Beginners

Commodities trading is big business, and many of the big investors who take part are either involved in producing the commodities or products made from them, or professional traders who specialise in this field. Firms such as JP Morgan, Macquarie and Atlantis Commodities have dedicated commodities traders and advisors in offices around the world, from London to Hong Kong and Singapore.

Retail traders and investors are likely to access commodities markets through online brokers. The most popular commodities will be available to trade through a wider range of brokers, with many forex brokers including gold and silver on their asset lists and other trading platforms offering oil and other key commodities.

Another common way for the retail market to gain exposure to commodities markets is through shares in companies, indices or ETFs that deal with this asset class. This could involve shares in a company that is directly involved in producing the commodity – a gold mining company, for example – or in an ETF or index that tracks sectors more generally. Traders can choose from numerous ETFs with exposure to precious metals, agricultural goods, energy commodities and so on.

Investing Vs Trading

Much of the retail market prefers to take a more relaxed approach to investing, picking assets they think will grow in the long term and then sitting back. These investors might pick up gold or silver to hedge against inflation or a market downturn, or they may look into ETFs or indices linked to a commodity they feel has the potential to do well in the mid-to-long-term.

On the other hand, traders looking to actively make trades to profit from price movements will be able to do so on any commodities available to them through a broker. Retail traders often speculate on commodity prices through derivatives, such as CFDs, particularly if they can be traded with leverage.

How To Trade Commodities

There are numerous ways to trade commodities, and some are better suited to retail traders than others.

Spot Trading

Traders place buy and sell orders for commodities on the spot market. Since this can involve taking physical possession of the commodity, it is often unviable for the retail market unless through a derivative.

Futures

One of the most common ways of trading commodities is through futures. Futures contracts are an agreement to trade an asset at an agreed price on a predetermined date when the contract expires.

Futures usually have a high capital requirement and will often involve taking possession of the asset when the contract finishes, making them less popular among retail traders.

Options

Options contracts work in a similar way to futures, but traders pay a premium for the right but not the obligation to purchase the asset. This means they can limit their potential losses to the price of the option.

CFDs

Contracts for difference or CFDs are an agreement between the broker and contract buyer to pay the difference between the asset’s price at the start and end of the contract. If the trader predicts the price movement correctly, the broker will pay them; otherwise they will have to pay the broker.

CFDs do not require the buyer to take possession of the asset, making them a great option for retail traders. The availability of leverage is another advantage as it boosts the profit potential of a smaller position.

Spread Betting

Another good option for the retail market, spread betting works in a similar way to CFDs, with the profit or loss of a trade determined by the amount the spread moves past the asset’s price at the beginning of the contract.

Spread betting brokers usually provide leverage, and UK traders can often benefit from the tax exemption to profits from spread betting trades.

Binary Options

Some retail traders favour binary options for their simplicity – they are a straightforward bet on whether a commodity asset’s price will rise or fall in a given timeframe, with potential profit or loss determined at the beginning of the contract.

Comparing Commodities Brokers

While a large number of brokers offer access to major commodities like gold, silver and oil, there are fewer that offer a more comprehensive range of hard and soft commodities to retail traders.

Here are some of the main features UK commodities traders should look for in a broker:

  • Fees are among the most important factors for any commodities trader, as they have a direct impact on the potential to make a profit. Commodities brokers often make their money from the spread and/or commission, but they can also charge fees for things like account maintenance and withdrawals.
  • Trading platforms are key as they act as a terminal through which traders analyse charts to plan and execute trades. Many brokers offer their own proprietary platforms, but third-party platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5) are also popular.
  • Regulation is important in a commodities broker, but fortunately, the sector is well-regulated in the UK, so you should be able to easily find an FCA-regulated broker with good safety measures, including negative balance protection and segregated accounts.
  • Range of assets is vital for retail traders who want to trade a variety of commodities. Does the broker offer gold, silver, oil and natural gas, for example?
  • Payment methods can make a difference to traders since transfer options have different transaction times, levels of privacy and potential charges. E-wallets like PayPal and Skrill often provide fee-free and fast deposits and withdrawals.
  • Demo accounts are a good way for UK retail traders to practice trading commodities without risking real cash. They can also be an effective way to test-drive potential commodities brokers.
  • Added features such as copy trading, robots and signals can improve the trading experience for those who do not have a lot of time to spend reading commodity price charts. They can also be a good way for beginners to learn from established investors.
  • Leverage is useful to retail traders as it magnifies the trading power of a small amount of capital through margin trading. In the UK, the FCA allows commodities brokers to offer leverage of up to 1:30 depending on the volatility of the asset, with commodities usually permitted up to 1:10 leverage.
  • Mobile apps help traders execute commodities trades at the time of their choosing, wherever they are. The top trading apps also integrate with desktop trading terminals for a seamless investing experience.
Commodities trading prices at Pepperstone

Pepperstone – Commodities Trading Conditions

Trading Tips

No one strategy will work with all assets, and traders should take the time to research the market of the specific commodity or commodities they want to trade. Here are some common features that will help you learn to trade your commodity of choice:

  • Volatility: Many commodities are known for their volatility, and this brings both opportunity and risk. Sharp traders can benefit from price swings, but these can also lead to heavy losses.
  • Supply/demand: Supply and demand are among the most important factors in determining a commodity’s price, and each asset’s supply and demand will be influenced by different factors that traders should carefully research.
  • Producers: While some commodities are widely produced around the world, all commodities have major producers and anything that affects these countries will have a stronger impact on the commodity’s price.
  • Politics: Trade agreements, wars, embargoes; there are numerous political news events that can have a big impact on commodity prices if they hit producer countries or those with high demand.
  • External factors: Every commodity’s price will be affected by external factors that affect production or demand. Unseasonably cold weather might reduce crop production or raise demand for natural gas, for example.
  • Correlations: Some commodities tend to rise with other commodities or with the market in general, others such as gold and silver will often see increases when the market is weak. Learning these dynamics can give traders an edge.
  • Technological advances: Demand for many commodities is tied to new technologies, which might either raise demand if they require a certain raw material for production or dampen demand if they overtake an existing technology that did.

Trading Strategies

Trend Following

Retail traders often profit from one of the simplest strategies, which involves identifying the general direction a price is moving and executing trades accordingly.

Trend following is relatively simple to do using basic charts and indicators, but commodities traders should also keep up with news events to identify good times to sell.

Range Trading

Like other assets, the price of commodities will often fluctuate between a lower limit known as support and an upper limit of resistance over a given timeframe.

Traders who identify these limits can profit by buying when the price reaches support and selling at resistance levels.

Breakout/Reversal

When a commodity’s price drops below support or breaks past resistance, this can indicate a change in the predominant trend, which can be an opportunity to make a significant profit.

How To Learn Commodities Trading

Not all traders have the time or the means to attend a commodities training course, but there is a wide range of ways that retail traders in the UK can learn about trading commodities.

Beginners can get to grips with the basics by reading a commodities trading book. This can be a good way to learn the definitions of certain terms or the meaning of specific concepts associated with trading commodities. Many websites such as this one also offer information on these topics. You can also ask for advice on commodities from trading groups on forum sites, or check out videos on YouTube to learn about strategies used by other traders.

The next step is to find commodities brokers with demo account software to practice them. The best demo account will allow traders to use a real trading platform to make risk-free trades with virtual money at live market prices, making this in effect a perfect simulator of commodities trading.

Trading Hours

The hours depend on the specific commodity being traded, with some being traded 24 hours. Here are the trading hours of two of the biggest exchanges in the UK:

  • London Metal Exchange: 11:40–15:00 GMT
  • Intercontinental Exchange: 24-hour

Bear in mind that commodities brokers may follow their own schedules for assets, and even if trading for a particular commodity is open 24/7, the market will still be more active (and more liquid) during certain hours.

UK Regulation

Most of the time, trusted commodities brokers will be regulated by the appropriate body in their specific jurisdiction.

In the UK, this is the Financial Conduct Authority (FCA). In the US, many brokers will be covered by the Commodities Futures Trading Commission (CFTC).

Bottom Line On Trading Commodities

Commodities trading is a broad and diverse field, with assets to suit every kind of trader and investor – though the added risk of volatile markets may make commodities a challenge. Many who focus on different asset classes will dip into commodities for hedging purposes or if they spot an opportunity for profit. There are also a great many who specialise in trading in a certain commodity or set of commodities and get to know the respective markets inside out. Whichever path you choose, be sure to do the research, choose a good broker and develop effective commodities trading strategies.

Head to our ranking of the top UK commodities brokers to get started.

FAQ

What Is Commodities Trading?

The term ‘commodities’ generally refers to raw materials that are mined or otherwise extracted from the ground, or crops that are grown by the agriculture sector. Commodities trading is simply the act of buying and selling these goods, either directly on the spot market or using financial derivatives including futures, options, and CFDs.

Commodities trading is a huge business with a massive volume of goods sold around the world each day, and it’s no wonder – the goods bought and sold on commodities markets are used in huge quantities in industry, manufacturing, construction and even to keep our homes warm.

How Do You Get A Job Trading Commodities?

Professional commodities traders for big firms in financial centres such as London, NYC, Chicago, and Singapore make big salaries, but they have to earn them. The largest firms will hire talent with a background in economics or finance, either through academic training courses and graduate schemes, through previous work experience such as internships, or both. These firms are often interested in technical forms of trading such as quant trading, and they may involve quite complex concepts that are usually taught at degree level. Finding a job at a commodities trading desk in one of these companies is likely to also involve an interview process with challenging questions to prove you know your stuff.

Fortunately, online brokers provide the retail market with access to commodities trading without having to jump through all these hurdles, and with a good demo account, you can learn the ropes while actively trading at no risk to your wallet. These brokers are the choice of retail commodities traders in the UK and around the world.

What Is The Role Of Forwards And Futures In Commodities Trading?

Forwards and futures contracts play a huge role in the commodities trade around the world, and in fact, these were the first derivative contracts ever to be traded. These derivatives are vital to producers and consumers of commodities since they can serve as a guarantee, ensuring that they are able to buy and sell the goods at a price that does not put them out of business. Forwards and futures are also useful for speculative purposes, and many traders use these contracts to place bets on the direction a commodity’s price will move.

Is Commodities Trading Halal Or Haram?

Commodities trading is one of the cornerstones of the world economy, and many Muslim countries are influential centres of this trade. The UAE and Saudi Arabia, for example, are well known for their power in the global oil market.

Nevertheless, if as a practising Muslim you have doubts over whether trading commodities is halal or haram, you should speak to a knowledgeable religious expert who you trust and seek their advice on the matter.

How Is Commodities Trading Different To Stock And Currency Trading?

For retail traders, commodities trading will often work in much the same way as trading stocks and forex as most of the time all of these assets will be accessed through the same online brokers.

The main difference between commodities vs stocks and forex in the UK is the amount of leverage on offer – commodities are often capped at 1:10 for the retail market, whereas forex pairs can go as high as 1:30.

Further Reading