Copper

Copper is the third most consumed industrial metal, used in a range of manufacturing products and everyday items. Its low price point compared to silver and gold also make it an attractive metal to trade online. This copper trading tutorial covers live charts, market economics, and strategy tips. Our team have also ranked the top copper brokers:

Best Copper Brokers UK

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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, 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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    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.

  6. 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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    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 2007. The broker offers diverse market coverage to over 7 million clients, spanning traditional assets like currencies and shares, as well as other interesting opportunities such as IPOs. Traders can also access copy trading services, PAMM accounts and investment opportunities. InstaForex is regulated by the BVI FSC.

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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 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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    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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    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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    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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    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.

  19. 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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    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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    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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    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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    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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    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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    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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    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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    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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    FP Markets is an ASIC- and CySEC-regulated broker that offers forex and CFD trading on a broad range of assets through the MT4, MT5 and IRESS platforms. With trading available through standard and raw spread accounts on thousands of international stocks, forex, indices, commodities, cryptocurrencies, bonds and ETFs, this broker has some of the most comprehensive market coverage available. FP Markets also offers a full range of additional features, including educational resources and access to powerful software such as Autochartist.

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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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    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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    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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    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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    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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    FXCentrum is an offshore broker that offers highly leveraged, commission-free trading on diverse instruments with tight spreads. Traders can access forex, equity and commodities markets via MetaTrader 5 or the proprietary FXC platform and use the award-winning ZuluTrade platform for copy trading.

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    Capital.com offer CFDs on a range of markets with competitive spreads and zero commissions. The broker also offers the Investmate app, negative balance protection and leveraged trading.

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    Trading 212 is a European and UK-regulated CFD broker that also offers stock investing and ISAs. It’s best known for its commission-free trading model and beginner-friendly app, which has helped it attract 2.5 million users and £3.5 billion in client assets.

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    LegacyFX is a multi-asset broker offering an MT5 download & free signals.

Copper Trading Basics

Copper was the first metal used by humans thousands of years ago. Today, its use cases span building construction, electric generators, wiring in cars, appliances, and computers, plus jewellery like belt buckles. As the best non-precious metal conductor of electricity, the global telecommunication network depends heavily on the soft metal.

The global copper market was valued at $291 billion in 2021, with forecasts that it will grow to $447 billion by 2030. The largest market share is held by the Asia-Pacific region with around 67%. This is driven predominantly by consumption in China.

The largest copper companies in the world include Glencore, BHP Biliton and LS-Nikko Co. Having said this, the largest copper mining company by production is Codelco, a Chilean-owned firm. The company produced around 1.7 million metric tonnes of the commodity in 2021.

Importantly for traders, a copper deficit may be a prominent issue across global markets throughout 2024 and beyond, fuelled by challenging supply issues in South America alongside increased demand. Chile produces the most copper in the world, accounting for 27% of the global supply. However, it reported a 7% decrease in volumes for 2022. This, alongside protests and political unrest in Peru (another major producer), has resulted in further declines in supply.

Price Chart

Note, the trading symbol for copper may vary between online brokers.

What Influences The Price Of Copper?

Economic Health

The copper trading price is largely influenced by the health of the global economy due to its use in nearly all sectors, including construction, electronics, heating, and electricity. Some even refer to the commodity as ‘Dr Copper’. If the economy experiences growth, the price of copper typically rises due to increased demand.

Given the large demand for copper in China, the price of the commodity is particularly linked to the country’s economy. For example, prices saw an uptick in early 2023 as China came out of tough lockdown measures following the COVID-19 pandemic, though this subsided somewhat as fear in the banking sector spread to other asset classes.

Supply & Demand

Any changes in production volumes can have a significant impact on the availability of copper and therefore market prices. This includes any political and environmental issues in copper-producing regions.

For example, there was a spike in the price of the commodity following the 2015 earthquake in Chile, the world’s largest supplier. More recently, Peru has been rocked with political and civil unrest leading to Glencore, one of the largest global natural resource companies, suspending its mining operations in a key location in January 2023.

China

Changes in key markets will have a strong influence on the lb copper price. Again, Chinese demand will continue to play a pivotal role in the price of copper.

The country is undertaking several initiatives, which are likely to increase their demand for the metal. This includes upgrading to higher efficiency vehicles, green manufacturing activities, and the concept of ‘smart factories’.

How To Trade Copper

The best copper trading brokers offer several investing vehicles:

CFDs

One of the most popular ways to trade copper is via CFDs. Contracts for difference are an agreement between two parties (trader and broker) to exchange the price difference of copper between the entry and exit points. CFDs allow retail investors to try and profit from both upward or downward price movements.

Margin trading can also be used to amplify position sizes. Admiral Markets, for example, offers copper CFDs with leverage of 1:10, meaning you can borrow 10x more than you put down.

Note that when trading CFDs, you do not own the underlying asset, in this case, copper. Margin requirements may also vary between platforms.

Stocks

Another way to gain exposure to copper trading is by purchasing stocks in companies involved in the industry.

This could include organisations involved in the production and exploration of the metal such as Southern Copper Corp and Taseko Mines Ltd. Alternatively, Antofagasta is the UK’s largest copper mining company which trades on the FTSE 100.

Futures

Investors can trade copper futures on the New York Mercantile Exchange (NYMEX), the London Metal Exchange (LME), and the Multi-Commodity Exchange (MCX). With this type of contract, you speculate on the price of the commodity at a set date and time in the future.

The London Metal Exchange, for example, offers trading on Copper A Grade futures with prices quoted in dollars per tonne with sizes of 25 tonnes.

ETFs

An ETF is another investment product offered by online brokers. Exchange-traded funds are typically structured to mirror a specific market segment. You can directly trade funds that contain metal-producing companies or gain exposure to copper alongside a basket of other assets, including additional metals.

Popular ETFs include the iPath Bloomberg Copper Subindex Total and the United States Copper Index Fund (CPER).

Spot Market

Spot trading copper involves purchasing or selling the commodity at the current market price.

Also sometimes available with leverage, IG Index for instance, offers copper spot trading with a minimum size of 0.25 and leverage up to 1:10.

Comparing Copper Trading Brokers

Consider the following factors when doing a comparison of the best copper brokers:

Assets & Vehicles

How can you trade copper? Does the broker offer CFDs, futures, spread bets, plus suitable stocks and ETFs? Also consider access to other assets so you can build a diverse trading portfolio, such as cryptos.

Interactive Brokers, for example, offer copper futures on the London Metal Exchange alongside OTC contracts on aluminium, lead, tin, nickel, and zinc. The platform also offers thousands of stocks and forex instruments.

Fees

Tight spreads and no/low commission copper trading brokers should rank highly. Also check for any non-trading costs, such as deposit/withdrawal charges and account maintenance fees.

CMC Markets, for example, offers copper trading with a 0.2 minimum spread, no minimum deposit, and zero deposit fees. The minimum order size is 200.

Resources

The best copper trading brokers will offer expert analysis. XTB, for example, offers regular market reports and insights on copper trading economics and fundamentals.

Also look for educational content and materials that cover investing basics and popular trading strategies. Many leading firms also offer copy trading tools, allowing users to mirror the trades of other investors.

XTB Market News - Copper

XTB Market News – Copper Prices

Trading Platform

Brokers that offer copper trading may provide a range of platform options, including proprietary terminals, mobile apps, and third-party tools like TradingView. Look for custom copper trading charts and graphs, price history, signals, alerts, watchlists, and news streams.

Tip: a demo account is a good way to test a broker’s platform and app before investing money.

Regulation

Leading copper trading brokers in the UK will be regulated by the Financial Conduct Authority (FCA). The regulator requires that client funds are held separately from business money and that negative balance protection is provided for retail traders, amongst other safety features.

IG Index, for example, is authorised by the FCA and offers various copper instruments, including futures and ETFs.

Trading Hours

Copper trading hours will depend on the opening times of the metal exchange and online brokerage.

The London Metal Exchange is open Monday to Friday from 01:00 to 19:00 GMT. There is no pre-market trading or after-hours trading, and there is no closure for lunch. XTB offers copper CFDs from 08:30 to 19:30 GMT.

Bottom Line On Trading Copper

Copper is the third-most used industrial metal. Its application spreads across almost every sector and its value is affected by multiple factors, including global economic health, demand and supply in producing regions, plus large quantity consuming countries like China. The variety of vehicles also means investors can adopt both short and long-term copper trading strategies.

To start trading online, see our list of the best copper brokers and platforms.

FAQ

How Can I Invest In Copper?

There are several ways to invest in copper including via futures, contracts for difference (CFDs), exchange-traded funds (ETFs), and stocks of companies involved in the mining/production, distribution and use of the soft metal. The best copper trading brokers offer a choice of vehicles and services to suit different trading timeframes and strategies.

What Are The Major Copper Trading Markets?

The main copper trading markets are the London Metal Exchange (LME), the New York Mercantile Exchange (NYMEX), and the Multi-Commodity Exchange (MCX).

The largest miners and producers of copper include Chile, Peru, Congo, China and the US. The largest consumers of the soft metal are China, the US and Europe.

What Are The Best Copper Stocks?

Popular copper stocks include Lundin Mining Corp (Canadian), Glencore (Swiss), BHP Biliton (Australian) and LS-Nikko Co (South Korean). These companies are all major players in the mining, production and distribution of copper. Many of these firms also have operations in other metals.

What Are The LME Copper Trading Hours?

The London Metal Exchange (LME) opening times are Monday to Friday from 01:00 to 19:00 GMT. Note, copper brokers and platforms may set their own trading times. IG Index, for instance, offers online copper trading Monday to Friday from 02:02 to 18:59 GMT.

Is Copper Worth Buying?

Copper has several characteristics that make it popular with an intraday trading strategy and longer-term investing approach. Firstly, commodities like copper are often seen as a ‘safe bet’ during times of economic uncertainty and market turbulence. Copper tends to maintain its value due to the relative stability of supply and demand.

The value of copper also tends to follow the global economy due to its applications in almost all sectors. It is also playing a key role in renewable technology and the move away from fossil fuels, which helped drive up prices in 2023. Similarly, if the construction industry or housing market is booming, the price of copper tends to rise.

Which Is The Best Copper Trading Broker?

There are several top-rated copper trading brokers in the UK, including Pepperstone, XTB and CMC Markets. These platforms are all FCA-regulated, offer tight spreads and/or low commissions, plus leverage up to 1:10 on copper. Alternatively, see our full list of copper trading brokers.

Article Sources

  1. World Economic Forum
  2. Statista
  3. XTB