Gold, valued for its beauty and rich history, has been used in artefacts and jewellery by people from different cultures for thousands of years. Even today, it remains a symbol of wealth and is accepted as currency in some parts of the world. Beyond its ornamental use, gold is also actively traded as a commodity, drawing investors to online platforms. Recognising its enduring appeal and widespread interest, we have put together this comprehensive guide to help navigate the world of gold trading in the UK. Alongside broker recommendations, we will explore various gold trading strategies and provide insights into what to consider when choosing a broker.
Essence
- Gold trading involves buying or selling gold as a commodity, aiming to profit from fluctuations in its price.
- FCA regulation ensures security and compliance, making it essential to choose an FCA-regulated gold trading broker.
- Choosing a broker that aligns with individual trading needs is crucial for a fulfilling trading experience.
- Incorporate user opinions to get insights into user experiences and platform reliability.
- At TradingGuide, our experts conduct extensive research before recommending gold trading brokers.
- Gold trading involves risks; hence, a solid strategy is imperative for risk management and successful trades.
- Various factors influence gold prices. Staying updated with commodity developments, economic indicators, and geopolitical events is crucial for informed trading decisions.
- The best gold trading broker supplies its users with comprehensive market access and analysis tools for informed trading decisions.
List of the Best Brokers for Trading Gold in the UK 2024
- Pepperstone – Best Gold Trading Broker With Excellent Support Service
- Admiral Markets – Best Gold Trading Broker For MT5 Users in the UK
- Spreadex – Cheapest Gold Trading Broker in the UK
- FP Markets – Best Gold Trading CFD Broker For MT4 Users in the UK
- Plus500 – Best Gold Trading CFD* Broker for Mobile Trading** in the UK
- XTB – Best Gold Trading Broker With Quality Learning Materials
- eToro – Best Gold Trading Broker for Beginners in the UK
- AvaTrade – The Safest Broker for Trading Gold in the UK
- FxPro – Top Gold Trading Broker For Advanced Traders in the UK
- OANDA Europe LTD – Best UK Gold Trading Broker With no Minimum Deposit Requirement***
*80% of CFD retail accounts lose money on Plus500
**Investment Trends 2022
***76.6% of retail investor accounts lose money when trading CFDs with OANDA provider
How We Test Gold Trading Brokers in the UK
We take our research process seriously to ensure that our recommendations meet the highest standards of reliability and safety. We begin by compiling a comprehensive list of gold trading brokers, ensuring that each broker is regulated by the Financial Conduct Authority (FCA). Regulatory status is paramount as it guarantees user safety and ensures that traders operate within a secure environment.
Our testing process involves signing up for demo trading accounts with each broker to assess their performance and compare their features. We conduct extensive tests to evaluate factors such as platform usability, order execution speed, and more. Only brokers that meet our stringent specifications qualify to be included in our recommendations list.
Besides conducting multiple tests, we analyse user comments and ratings from Google Play, the App Store, and Trustpilot. By sampling feedback from real users, we gain valuable insights into the overall user experience and satisfaction level with each broker.
By combining our findings from performance testing and user feedback analysis, we ensure that our recommendations remain unbiased and objective. Rest assured that when you choose a broker from our recommendations list, you are selecting from the best in the market. We prioritise your safety, satisfaction, and success in your gold trading journey.
In this guide
Best Brokers for Trading Gold in the UK
- List of the Best Brokers for Trading Gold in the UK 2024
- Compare Best Brokers for Trading Gold in the UK
- Brief Overview of Our Recommended Gold Brokers’ Fees and Assets
- Our Opinion & Overview of the Best Gold Trading Platforms in the UK
- What do Other Traders Say?
- The Ultimate Guide About Online Gold Trading
- FAQs
Compare Best Brokers for Trading Gold in the UK
We understand the importance of selecting a suitable gold trading broker in the UK. Therefore, we test and compare hundreds of brokers to ensure you get the best recommendations. In our comparison procedure, we look into brokers’ features, including licence, support service responsiveness, available software, and more. See below our table showcasing some of the features of our top gold brokers in the UK.
| Best Gold Brokers | Licence | Support Service | Software | Payment | Demo Account | Money Insurance (Negative money protection) |
|---|---|---|---|---|---|---|
| Pepperstone | FCA, ASIC, DFSA, CySEC, BaFin, SCB, CMA | 24/7 | MetaTrader 4, MetaTrader 5, cTrader, TradingView | Credit cards, Bank transfer, PayPal | Yes | Yes (up to £85,000) |
| Admiral Markets | FCA | 24/5 | MT4, MT5, MT WebTrader, Admiral Markets Platform | Bank Wire Transfer, Credit/debit cards, Skrill, Neteller, Paypal, Klarna, iDEAL | Yes | Yes (up to £85,000) |
| Spreadex | FCA, SEBI | 24/5 | iPhone App, IPAD App, ANDROID App, TradingView | Bank Wire Transfers, Credit cards | No | Yes (up to £85,000) |
| FP Markets | CySEC, ASIC, FCA, SEBI | 24/7 | MT4, MT5, cTrader, Iress | Credit/debit cards, Bank transfer, PayPal, Neteller, Skrill, PayTrust FasaPay | Yes | Yes (up to $500,000) |
| Plus500 | FCA, CySEC, ASIC, FSCA, MAS, FSA | 24/7 | Plus500 Webtrader | Bank Wire Transfer, Credit/debit cards, Paypal, Skrill | Yes | Yes (up to £85,000) |
| XTB | FCA, KNF, CNMV | 24/5 | xStation 5, xStation Mobile | Credit/debit cards, Bank Transfers, Skrill | Yes | Yes (up to £85,000) |
| eToro | ASIC, CySEC, FSCA, FCA, FSAS | 24/5 | eToro investing platform, Multi-asset platform, Copy Trader | Debit cards, Bank transfer, Neteller, Skrill, eToro Money, Online Banking | Yes | Yes (up to $250,000) |
| AvaTrade GO | CBI, CySEC, ASIC, BVIFSC, FSA, SAFCSA, ADGM, ISA, SEBI | 24/5 | MT4, MT5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, Capitalise.ai | Credit/debit cards, Wire transfer, Paypal, Skrill, NETELLER, WebMoney | Yes | Yes (up to $1,000,000) |
| FxPro | SEBI, FCA, CySEC, FSCA, SCB, FSCM | 24/5 | FXPro Trading Platform, MetaTrader 4, MetaTrader 5, cTrader | Wire transfers, Credit/Debit cards, PayPal, Neteller, Skrill | Yes | Yes |
| OANDA Europe LTD | FCA, CySEC, FSA | 24/5 | MT4, OANDA Trade | Credit/debit cards and Bank transfer | Yes | Yes |
Brief Overview of Our Recommended Gold Brokers’ Fees and Assets
Before you start trading gold, identify a broker you can afford and feature your preferred assets, whether gold or additional asset classes, for portfolio diversification. Since comparing brokers’ fee structures can be lengthy and overwhelming, we have shared tables below to help you understand our recommendations’ fees and assets for informed decisions.
Fees
| Best Gold Brokers | Fees | Minimum Deposit Requirement | Transaction | Inactivity |
|---|---|---|---|---|
| Pepperstone | From 0.0 pips | £0 | Free | None |
| Admiral Markets | From 0.0 pips | £250 | Free, but 1% exchange fee | €10 monthly |
| Spreadex | From 0.6 pips | £0 | Free | None |
| FP Markets | From 0.0 pips | £100 | Free | None |
| Plus500 | From 0.0 pips | £100 | Free | £10 monthly |
| XTB | From 0.1 pips | £0 | Free | £10 monthly |
| eToro | 2 pips | $100 | $5 withdrawal | $10 monthly |
| AvaTrade | 0.03 pips | £100 | Free | £50 quarterly |
| FxPro | From 0.1 pips | £100 | Free | £15 one-off maintenance fee |
| OANDA Europe LTD | From 0.8 pips | £0 | Free | £10 monthly |
Assets
| Best Gold Brokers | Forex | Stocks | Commodities | ETFs | Options |
|---|---|---|---|---|---|
| Pepperstone | Yes | Yes | Yes | Yes | No |
| Admiral Markets | Yes | Yes | CFDs on commodities | Yes | No |
| Spreadex | Yes | Yes | Yes | Yes | Yes |
| FP Markets | Yes | Yes | Yes | Yes | No |
| Plus500 (CFDs) | Yes | Yes | Yes | Yes | Yes |
| XTB | Yes | Yes | Yes | Yes | Yes |
| eToro | Yes | Yes | Yes | Yes | No |
| AvaTrade | Yes | Yes | Yes | Yes | Yes |
| FxPro | Yes | Yes | Yes | No | No |
| OANDA Europe LTD | Yes | No | Yes | No | No |
Our Opinion & Overview of the Best Gold Trading Platforms in the UK
As mentioned earlier, we test hundreds of brokers to identify the best based on our hands-on experience. Below, we share our opinion on this process and provide a comprehensive overview of our best gold trading brokers. This way, you can have a glimpse of what each broker is all about and make a suitable choice for your needs.
1. Pepperstone – Best Gold Trading Broker With Excellent Support Service
We find Pepperstone to excel in various categories, and reliable and responsive support service is among them. While exploring its performance, we contacted the broker’s support team via email, phone, and live chat. The response rate was prompt, and we found relevant solutions to all the matters raised. Pepperstone also has a user-friendly and intuitive design platform with fast trade execution speed.
Note that this broker allows you to trade gold as CFDs and spread betting. There is no commission with this asset but low spreads starting from 0.05 points. On top of that, Pepperstone supports its clients with quality market analysis tools on its advanced trading platforms. These include cTrader, TradingView, MT4, and MT5. You can also participate in social trading and advance your skill level using its quality learning resources.
✔ No dealing desk intervention
- Low spreads on gold trading
- No minimum deposit requirement for UK clients
- Reliable and responsive support service via email, phone, and live chat
- Quality learning and market analysis tools
- No buying and taking full ownership of gold and other featured assets
- Limited asset offerings compared to its peers
| Type | Fee |
| Minimum Deposit | $200 |
| Withdrawal fee | $0 |
| Deposit fee | $0 |
| Inactivity fee | No |
| Account fee | No |
2. Admiral Markets – Best Gold Trading Broker For MT5 Users in the UK
Admiral Markets is another gold trading broker we find worthy of considering, primarily to UK MT5 traders. Various elements stood out on the broker’s MT5 platform during our experience. Besides easy navigation and fast trade execution speed, we like solid analytical research resources that help in strategy development. Its variety of MT5 accounts, including Trade.MT5 and Zero.MT5 makes it easier for users to choose what suits their skill levels. Plus, you will enjoy automated trading supreme edition ad-ons, an economic calendar, and more.
We had a streamlined account set-up experience that took minutes to complete. The minimum deposit requirement is £250 for UK clients, which we believe is a bit high, especially those gold traders who are cautious about their spendings. The good news is that all deposits are free (no fee). Check out more details here: https://admiralmarkets.com/start-trading/deposits-and-withdrawals. On top of it you will incur spreads starting from 0 pips (on Zero.MT4 and Zero.MT5 acconts). And if you are looking for additional asset classes to diversify your portfolio with, Admiral Markets features an additional 8,000+ instruments, including shares, ETFs, bonds, and more.
✔ Advanced trading tools
- Free deposits
- A user-friendly MT5 platform with a fast trade execution speed
- It features a MetaTrader Supreme Edition plugin with live news feed and analysis widgets for an exciting experience
- Diverse asset classes available on its multiple accounts for portfolio diversification
- No gold spread betting
- Its demo account is active for only 30 days
| Type | Fee |
| Minimum deposit | £250 |
| Deposit fee | $0 |
| Withdrawal fee | 1 free withdrawal request every month, after – 1% |
| Inactivity fee | Monthly €10 |
| Overnight fee | Yes |
Investments involve risks and are not suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
3. Spreadex – Cheapest Gold Trading Broker in the UK
Spreadex has solidified its position as the go-to broker for gold trading in the UK, earning a position in our list of recommendations as the cheapest and most accessible choice for gold traders. What impresses us the most with Spreadex is its commitment to offering competitive pricing and minimal spreads when it comes to trading gold. Not only will you trade with spreads starting from 0.4 points, but getting started is easy as the broker doesn’t have a minimum deposit requirement.
Spreadex’s user-friendly trading platform further cements its status as the cheapest gold trading broker. This platform provides efficient access to gold markets and offers valuable tools and resources for market analysis and strategy development. For gold traders seeking advanced trading tools, Spreadex hosts them on its TradingView platform. You will also enjoy social trading, whereby you can mingle with global gold traders and share various trading ideas.
✔Helpful customer service
- Low spreads starting from 0.4 points
- No minimum deposit requirement
- Features social trading and advanced trading tools on its TradingView platform
- Additional assets, including silver, natural gas, forex, shares, and more, for portfolio diversification
- No demo account
- You can only trade gold as CFDs and spread betting
| Type | Fee |
| Minimum deposit | Free |
| Overnight fee | Yes |
| Deposit fee | Free |
| Withdrawal fee | Free |
| Inactivity fee | Free |
4. FP Markets – Best Gold Trading CFD Broker For MT4 Users in the UK
UK MT4 users looking for the best gold trading broker should consider FP Markets. Although you will trade gold as CFDs, using this broker exposes you to a comprehensive trading platform for maximum experience. Moreover, you can also try its MT5 and Iress platforms to explore additional exciting features.
The best element about using FP Markets for gold CFD trading is that you will incur low spreads and margins without compromising execution. This is particularly important for gold trading, where small price movements can significantly impact the bottom line. The platform is fast in trade execution, and beginner MT4 users will enjoy numerous learning resources. There is also a social and copy trading platform to connect with other traders and mirror positions with increased profitability.
Besides gold trading, FP Markets also offers a wide range of other market assets, including forex, indices, more commodities, and shares for portfolio diversification. You should take advantage of gold trading at FP Markets to enjoy live price streaming and access to the MQL4 community for an exciting experience.
✔Accounts can be opened fast and easy
- Low minimum deposit requirement
- Access to superior features, including fully customisable charts and one-click trading on the MT4 platform
- Low gold trading fees and margin rates
- Plenty of learning resources for maximum potential
- You can only trade gold as CFDs
- The MT4 platform can be challenging for newbies to use
| Type | Fee |
| Minimum deposit | $100 |
| Overnight fee | $0 |
| Deposit fee | $0 |
| Withdrawal fee | Depends on payment method |
| Inactivity fee | $0 |
5. Plus500 – Best Gold Trading CFD Broker for Mobile Trading* in the UK
Plus500 is a multi-asset broker that currently offers three platforms: Plus500 CFD with more than 2800 CFD instruments, Plus500 Invest with more than 2700 shares, and Plus500 Futures – a futures platform available in the US only. The reason why we say this is because Plus500’s trading app is the highest-ranking trading app in both the App Store (Apple/iOS) and Google Play (Android).
Not only that, but Plus500 continuously performs extremely well in all our tests and reviews. Therefore, it was a no-brainer for us to list Plus500 as the best gold broker for mobile trading**.
Unlike many other brokers, Plus500 does not offer access to third-party platforms. Instead, all trading (whether it be gold or shares) is done through the Plus500 platform – available on desktop (web trader) and as an app for iOS and Android.
*Investment Trends 2022
**Best rated mobile app
✔ Regulated in many countries
- The highest-ranking trading app in both major app stores*
- A unique way to trade gold using the bespoke trading platform
- Easy to use
- A limited selection of assets that quickly becomes frustrating
- No option to switch to a third-party platform or graphs
| Type | Fee |
| Overnight Funding | yes |
| Currency Conversion Fee | 0.7% |
| Guaranteed Stop Order | spread applies |
| Inactivity Fee | $10 per month |
| Withdrawls/Deposits | $0 |
Note: 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
6. XTB – Best Gold Trading Broker With Quality Learning Materials
XTB offers gold trading within its user-friendly platform, characterised by an intuitive design. Our experience with the broker revealed an entry point as low as £1, owing to its absence of a minimum deposit requirement. Moreover, gold trading via XTB is commission-free, featuring spreads starting from 0.3 pips. For those inclined towards exploring the commodities market, XTB presents an additional 25+ commodities, enabling portfolio diversification.
What sets XTB apart and leads us to recommend it is the availability of high-quality learning materials. These resources not only cover gold trading but also provide insights into other featured assets like forex, shares, cryptocurrencies, and more. Users can access articles, guides, eBooks, and webinars, enhancing their knowledge base. Furthermore, XTB offers competitive interest rates on uninvested funds, potentially allowing traders to earn up to 5%, featuring rates of 3.8% for EUR and 5.0% for USD. That being said, should you have any inquiries or require clarification, XTB’s responsive support service remains readily available to offer quality assistance.
✔ Wide range of global markets
- Commission-free gold trading
- No minimum deposit requirement
- Plenty of learning materials
- Additional commodities and CFD assets for portfolio diversification
- Gold trading fees can be high for some users
- There is a £10 monthly inactivity fee if your account remains inactive for over 12 months
| Type | Fee |
| Opening an account | $0 |
| Account type: Standard: spread | 0.5 |
| Account type: Swap Free: spread | 0.7 |
| Forex | From 0.1 pips |
| Stock CFDs commission | 0% |
| ETF CFDs | 0% |
| Crypto commission | From 0.22% |
| Monthly Fee for maintaining an Account | Free of charge or up to 10 EUR |
| Withdrawal fee | $0 |
| Deposit fee | $0 |
7. eToro – Best Gold Trading Broker for Beginners in the UK
eToro is one of the best online brokers in the UK and abroad, many thanks to their unique offerings and platforms. You see, for several years, eToro has spearheaded the social trading industry, creating one of the biggest copy trading networks ever.
This means that you can use eToro to trade gold either by analyzing the market on your own or by copying a more experienced trader. You can also share and receive tips on gold and commodities trading.
In addition to gold, eToro provides access to several markets with forex, stocks, and cryptocurrencies being the three main ones. In turn, that allows you to diversify your portfolio easily.
✔Low minimum to fund an account and begin investing
- The leading broker for copy trading gold online
- Millions of customers from all around the globe
- Perfect for beginners as well as professional day traders
- Licensed from Australia and Europe to the United States
- One of the more expensive online brokers in the UK
- Limited opportunities for those that do not want to partake in copy trading
| Types | Fee |
| Minimum Deposit | $100 |
| Conversion Fee | depends on your payment method, currency, and eToro Club level. |
| Overnight Fee | vary according to the value and direction (BUY or SELL) of your position |
| Withdrawal Fee | all withdrawal requests are subject to a $5 USD fee |
| Inactivity Fee | monthly inactivity fee of $10 USD (charged after 12 months) |
8. AvaTrade – The Safest Broker for Trading Gold in the UK
AvaTrade is a fully regulated and safe broker to use for trading gold or other instruments that you’re interested in such as forex and stocks. What’s unique with AvaTrade is that they are the only broker licensed by a central bank, namely the Central Bank of Ireland. Naturally, this license weighs very heavily in an industry riddled with scams.
Besides being safe and regulated, AvaTrade offers great opportunities to trade gold in several ways: spot, futures, and CFD trading. The broker also recently launched a copy and social trading platform that takes your trading efforts to the next level, not to mention the award-winning gold trading app, AvaTradeGO.
We also want to point out that AvaTrade is rather cheap to trade with but, unfortunately, their selection of assets is quite limited.
✔ Quick deposits and withdrawals
- Regulated by a European central bank and several financial regulators
- Offers a copy and social trading platform to help you perform at your very best
- The award-winning app, AvaTradeGO, that can be used to trade gold on the go
- A very limited selection of assets (just barely 1,500 on offer)
- Not available globally but rather in select jurisdictions
| Type | Fee |
| Minimum Deposit | £100 |
| Inactivity Fee | USD Account: $50 EUR Account: €50 GBP Account: £50 |
| Administration Fee | USD Account: $100 EUR Account: €100 GBP Account: £100 |
| Deposit Fee | $0 |
| Withdrawal Fee | $0 |
9. FxPro – Top Gold Trading Broker For Advanced Traders in the UK
After multiple tests and comparisons, FxPro emerges as the paramount gold trading broker for advanced traders in the UK. The broker tailors its services to advanced traders, offering robust platforms such as cTrader, MT4, and MT5. Notably, the FxPro Web version, compatible with both desktop and mobile devices, proves especially beneficial for beginners, enhancing accessibility to all users.
Beyond gold, we delved into trading various asset classes, including shares, forex, indices, and more, providing ample options for portfolio diversification. Recognising the significance of robust support for traders, FxPro ensures a responsive team of professionals delivering pertinent solutions to address any challenges. While the support service operates exclusively on weekdays, this may not be a decisive factor for non-daily traders. The broker has a minimum deposit of £100 and no deposit fees, which facilitates a convenient starting point for traders at any level of expertise.
✔ Trustworthy broker
- £100 minimum deposit requirement, which we believe is among the industry’s lowest
- Free deposits and withdrawals
- Multiple trading platforms to choose from
- Reliable and responsive support service via phone, email, and live chat
- You can only trade gold as CFD or spread betting
- Support service operates on weekdays only
| Type | Fee |
| Minimum deposit | $100 |
| Withdrawal fee | $0 |
| Inactivity fee | $15 once + $5 monthly |
10. OANDA Europe LTD – Best UK Gold Trading Broker With no Minimum Deposit Requirement
OANDA Europe LTD is a leading online forex and CFD trading platform offering trading services for precious metals like gold and silver. With over 25 years of experience in the industry, OANDA Europe LTD is one of the most trusted and reliable brokers for gold trading in the UK. What sets OANDA Europe LTD apart from other brokers is that it has no minimum deposit requirement, which means that traders can start trading gold with any amount they feel comfortable with. This makes it an excellent choice for beginners or traders who do not want to invest a lot of money initially.
OANDA Europe LTD also offers several other benefits to its gold trading clients. These include low spreads, fast execution, and access to advanced trading tools and charts. It also hosts the MetaTrader 4 and TradingView platforms that expose you to additional features for maximum experience. Most importantly, OANDA lists additional CFD assets, including forex, commodities, bonds and indices.
✔ Fast and user-friendly account opening
- Additional asset classes for portfolio diversification
- MT4 and TradingView platforms with over 50 technical tools
- Allows spread betting
- Licensed and regulated by the FCA, thus guaranteeing safe trading
- Reliable trading app on Google Play and the App Store
- Limited asset offerings compared to what its peers host
- Inactivity fees apply after 12 months of no account activity
| Type | Fee |
| Minimum deposit | $0 |
| Overnight fee | Yes |
| Deposit fee | $0 |
| Withdrawal fee | $0 to your PayPal account* |
| Inactivity fee | Yes |
*We do not charge a fee for withdrawals made to your PayPal account. If your PayPal account is denominated in a currency other than GBP, EUR or USD, you may incur an exchange fee levied by PayPal.
Note: 76.6% of retail investor accounts lose money when trading CFDs with this provider.
What do Other Traders Say?
As a trader, you should not only rely on your experience with a broker but also consider what other users have to say about their experiences. This means that while testing a broker is important for the best decisions, visit Google Play, the App Store, and Trustpilot. Sample user comments and ratings, understanding each broker’s strengths and weaknesses to decide whether a broker is worth committing to. See below some of the user comments we gathered from these platforms.
Plus500
Plus500 is lauded for its intuitive platform and user-friendly interface. Traders appreciate its straightforward approach, which makes navigating the trading process hassle-free, especially for newcomers. The broker’s competitive fees further solidify its reputation as a top choice among traders.
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“After many years of trading on this platform I had the chance to learn and improve my trading skills. It’s the best app and easy to use. I’ve tried other platforms but this one it’s far better ?” – Ludovic Gyorfi
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“Very good, no problems with deposits or withdrawals, real time prices, you can make alot of money here.” – ramzyki
XTB
XTB is highly regarded for its comprehensive educational resources and robust trading tools. Users praise its commitment to trader education, making it an attractive option for those looking to enhance their trading skills.
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“I have shares in other brokers, but I’m using this app to check prices and charts because it’s simply better. Flawless usability” – Kosciej
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“Very good app. Customer service is welcoming. Lots of information for new traders available for free. Feel very valued and accepted as a beginner. Best app I have found after trying 10+ others.” – Thomas Ashley
Spreadex
Spreadex stands out for its unique spread betting services and personalised customer support. Traders value the broker’s flexibility and tailor-made approach, allowing for customised trading experiences. Additionally, Spreadex’s competitive spreads and extensive market coverage contribute to its popularity among traders.
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“Easy to use Platform, v friendly staff. Never had any issues” – Matthew Hill
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“Been with Spreadex more than ten years, great range of markets, particularly among UK smaller caps. Pay up quickly when a short goes to ‘zero’ too, much better experience than I have had with CMC for example.” – TheAceTrader
FP Markets
FP Markets earns praise for its extensive range of trading instruments and advanced trading platforms. Traders appreciate the broker’s commitment to innovation, providing access to cutting-edge tools and technologies.
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“Customer support is really marvelous, my problem was taken seriously and solved within no time. Thanks to the team for their efforts. Great!” – Tariq
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“The app is user friendly. Even for beginners, it is easy to use, and the customer service live chat is quick in replying.” – Wayne K
eToro
eToro earns praise for its user-friendly platform and innovative social trading features. Users value the simplicity, making it an ideal choice for beginners. Users also appreciate the broker’s support service team for being responsive and reliable.
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“Good reliable platform for investing in various asset classes and also for day trading. The assigned RMs are proactive and available to give guidance as needed. The RM follows up until the query is resolved.” – Ankit
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“Really I think it is amazing app” – AmirFerdos
AvaTrade
AvaTrade is recognised for its diverse range of trading platforms and comprehensive educational resources. Traders benefit from the broker’s commitment to providing a supportive trading environment, with access to educational materials and personalised support.
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“I was contacted within 10 minutes from opening my account. The account validation process took less than 1 hour. I was literally trading on a live account within 2 hours from opening my account. Very impressed with the service.” – Mr Coetzee
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“Very smooth and clean, educational videos to support your understanding of the system and trading in general. Interactive customer service that actively try to support you as best they can, very friendly and understanding” – Jaundre Koekemoer
FxPro
FxPro is renowned for its advanced trading tools and transparent pricing structure. Many traders appreciate the broker’s focus on technology and innovation, providing access to cutting-edge trading platforms and analytical tools.
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“I just love this app, everything is clear, it’s perfect for all types of investor also for long term invest.” – Dibakar Barua
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“While providing the services, they did it quickly and proactively. The provides a wide range of functions that are useful while generating monthly and yearly returns. The dashboard is designed to be easy to use and understand” – Nitesh Saini
OANDA
OANDA stands out for its robust trading platform and extensive market research resources. Many traders value the broker’s comprehensive market analysis and research tools, providing valuable insights for informed trading decisions. Additionally, OANDA’s competitive pricing and reliable execution make it a trusted choice among traders worldwide.
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“Account was easy to open and was contacted next day by Luke a VERY helpful account manager who was very knowledgeable and answered all my questions quickly. Happy with service.” – Lucy P T
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“The most reliable broker out there I’ve been with them for years and they’ve never disappointed me and when it comes to withdrawal they are super fast I would rate them 10/10 but obviously no broker is perfect but so far so good” – Zukisa Gaca
The Ultimate Guide About Online Gold Trading
Trading commodities carries risks such as market volatility, leveraged positions, and the potential for substantial losses. To manage these risks, diversify your investments, use stop-loss and take-profit orders, and trade with funds you can afford to lose. Additionally, stay informed about market factors, adhere to a well-defined trading plan, and guard against emotional decision-making.
It is also crucial to comply with market regulations and be cautious of counterparty risk. Regularly reassessing your risk tolerance and trading strategies will help you trade responsibly and maximise profitability.
As TradingGuide professionals, we not only recommend top gold trading brokers in the UK but also provide essential insights into how gold trading operates. In our sections below, you will benefit from our comprehensive knowledge, where you will understand the intricacies of gold trading and feel confident making your first investment in this valuable asset.
How to Trade Gold?
When it comes to trading gold, there are various methods to consider, each with its own set of advantages and risks. One popular option is trading gold through CFDs, which allow traders to speculate on the price movements of gold without owning the underlying asset. This offers flexibility and the opportunity to profit from both rising and falling gold prices.
Additionally, gold can be traded in the forex market, where it is typically paired with major currencies such as the US dollar (XAU/USD), the euro (XAU/EUR), and more. Traders can speculate on the price movements of gold relative to these currencies, leveraging the advantages of high liquidity and flexible trading hours offered by the forex market.
Another common approach is trading gold futures contracts. Futures contracts involve an agreement to buy or sell gold at a predetermined price on a future date. This method is favoured by institutional investors and provides exposure to the gold market with potentially higher leverage.
For those looking for a more direct approach, trading physical gold is an option. This involves purchasing gold bars or coins and storing them securely. While this method offers tangible ownership of gold, it may require additional storage and insurance costs.
There is also the ETF gold trading method, which are funds that track the price of gold. ETFs can be bought and sold on stock exchanges like individual stocks. The gold trading method offers liquidity and diversification, making it a popular choice for investors seeking exposure to gold without the complexities of owning physical bullion.
Read about the best stock brokers UK and the top futures brokers in 2024 in our other article.
How to Choose the Right Gold Trading Broker in the UK
Choosing the right gold trading broker in the UK can be challenging, especially with numerous options available in the market today. To streamline this process, we share below some factors to consider in ensuring you find a suitable broker that guarantees an exciting experience.
Security is paramount in a gold trading broker in the UK. Therefore, ensure you select one that is highly encrypted to safeguard your data. The broker should also be licensed and regulated by the Financial Conduct Authority (FCA). This assures you of the best trading environment while safeguarding your funds. Note that all FCA-regulated brokers in the UK store clients’ trading funds in segregated accounts only accessible by you.
Obviously, you want an FCA-regulated broker hosting gold. Having additional asset classes, including forex, shares, commodities, cryptocurrencies, and more, is a bonus. This will make it easier for you to try other assets and diversify your portfolio.
Transparent and competitive pricing is essential when choosing a gold trading broker in the UK. Therefore, take into account factors such as spreads, commissions, overnight financing fees, and more to assess the overall cost of trading. Simply put, opt for brokers with clear fee structures that align with your trading budget.
The best gold trading broker in the UK should have a user-friendly and customisable trading platform. The platform should also be equipped with advanced charting tools, technical indicators, and lightning-fast order execution. Most importantly, ensure it features a trading app so you can easily manage your positions anytime you step away from your trading station.
If you are new to gold trading, consider a broker with a demo account. This will ensure you test the broker and gauge your skill level risk free without committing real funds. The broker should also host other learning resources, including guides, articles, eBooks, seminars, and more.
Prompt and efficient customer support is indispensable when trading gold. Choose brokers that offer responsive support services accessible via multiple channels, including live chat, email, and phone. Reliable customer support ensures timely assistance and resolution of any queries or issues that may arise during your trading journey.
Seek feedback from fellow traders on Google Play, the App Store, and Trustpilot to gain insight into their experiences with the broker. User testimonials provide valuable perspectives on aspects such as reliability, customer service, and overall satisfaction. Positive testimonials instil confidence in the broker’s credibility and service quality, aiding in your decision-making process.
5 Simple Steps to Start Trading Gold
Many traders, especially newbies, are sceptical about starting to trade gold UK as they believe the process is challenging. However, with proper knowledge and understanding of the procedures, you can set up your trading account in five minutes and jump straight into making your first investment. See below how to get started using an FCA-regulated broker in the UK.
With your chosen broker from our list above, visit its website by clicking on any of the links we have shared on this page. Take your time to explore the broker’s website, familiarise yourself with its offerings, and ensure they meet your trading needs and preferences. Also, install its trading app on your mobile device to effectively manage your positions whenever you are on the move.
Once you have selected a suitable gold trading broker, proceed to create a gold trading account. This typically involves filling out a registration form with your personal details, including your name, email address, contact information, and more. Be sure to provide accurate information to expedite the account creation process. Additionally, you may need to set up login credentials, such as a username and password, to access your account securely.
Many FCA-regulated brokers require account verification as part of their compliance with regulatory standards and to prevent fraudulent activities. The verification process typically involves submitting identification documents, such as a passport or driver’s licence, to verify your identity. Some brokers may also require proof of address, such as a utility bill or bank statement. Once you have submitted the necessary documents, the broker will review and verify your account, usually within a few business days.
After your account has been successfully verified, it’s time to fund your trading account. Most brokers offer a variety of payment methods for depositing funds, including bank transfers, credit/debit cards, and electronic wallets. Choose the payment method that is most convenient for you and follow the instructions provided by the broker to complete the deposit process. Be mindful of any minimum deposit requirements and consider factors such as transaction fees and processing times when selecting your payment method.
With your account funded, you are now ready to start trading gold. Log in to your trading platform using your credentials and navigate to the gold market. Take some time to familiarise yourself with the trading platform’s features and tools, such as price charts, technical indicators, and order types. Conduct thorough market analysis, develop a trading strategy, and execute your trades based on your analysis and risk management principles.
Gold Trading Accounts
Gold trading accounts are specialised accounts offered by brokers that support multiple gold investment instruments, including gold futures, gold trading forex, CFDs, options, ETFs, and physical gold bullion. With gold trading accounts, investors can exploit the market’s volatility, diversify their portfolios, and potentially earn profits. These accounts cater to both beginners and experienced traders, offering various features and benefits tailored to suit different trading styles and preferences.
There are several types of gold trading accounts available in the market, including:
- Standard Accounts – Standard gold trading accounts are suitable for traders who prefer a traditional approach to trading. These accounts typically require a minimum deposit and offer access to a wide range of trading instruments, including gold, currencies, stocks, and indices.
- Mini Accounts – Mini gold trading accounts are designed for traders with smaller capital sizes or those who are new to trading. These accounts often have lower minimum deposit requirements and smaller trade sizes, making them ideal for beginners looking to test the waters before committing larger amounts of capital.
- Demo Accounts – Demo gold trading accounts are virtual accounts that allow traders to practise trading strategies and familiarise themselves with the trading platform without risking real money. These accounts are invaluable for beginners who want to gain experience and confidence before transitioning to live trading.
- Islamic Accounts – Islamic gold trading accounts comply with Shariah law, which prohibits the payment or receipt of interest. These accounts operate on an interest-free basis, making them suitable for Muslim traders who adhere to Islamic finance principles.
Overall, gold trading accounts have different trading fees, margin requirements, and account minimums, depending on the broker. Therefore, it’s crucial to understand these fees and requirements before opening a gold trading account to avoid any surprises or unexpected costs.
Physical Gold Trading vs CFD Gold Trading
When it comes to investing in gold, two primary options stand out: physical gold trading and CFD gold trading. While both involve the same underlying asset, they differ significantly in how they are managed, presenting distinct advantages and drawbacks for investors to consider.
Physical gold trading entails the buying and selling of tangible gold bullion, such as bars or coins. Typically facilitated through bullion dealers or brokers, this form of trading grants investors direct ownership of the gold, which can be stored in secure locations like vaults. However, it comes with associated costs, including storage fees, insurance, and transportation expenses. While physical gold offers the assurance of tangible ownership, it can be cumbersome and expensive to manage.
Conversely, CFD gold trading enables investors to speculate on gold price movements without owning the physical metal. Through online brokers, traders enter into contracts based on gold price fluctuations, aiming to profit from the difference between the opening and closing prices.
One significant advantage of CFDs is the ability to trade with leverage, thus amplifying potential profits with a smaller initial investment. However, this leverage also increases risk, potentially leading to substantial losses if the market moves unfavourably. Therefore, always conduct thorough market analysis for solid strategies before applying leverage in gold CFD trading in the UK.
Pros and Cons of Gold Trading
Gold trading presents investors with both opportunities and challenges, making it essential to weigh the pros and cons before diving into the market.
Pros
- Safe-Haven Asset – Gold serves as a hedge against economic uncertainty and inflation, often retaining its value during market downturns.
- Diversification – Including gold in a portfolio can reduce overall risk by providing diversification from traditional assets like stocks and bonds.
- Liquidity – Gold is highly liquid, allowing investors to easily buy and sell it in various forms.
- Potential for Growth – Historically, gold has shown steady appreciation over the long term, offering potential for capital appreciation.
Cons
- Volatility – Despite its safe-haven status, gold prices can be volatile, influenced by various factors. Sudden price swings can lead to significant losses for investors.
- Storage and Insurance Costs- Investing in physical gold requires secure storage and insurance, which can incur additional expenses.
- No Income Generation – Unlike dividend-paying stocks or interest-bearing bonds, gold does not generate any income for investors.
FAQs
In our opinion, the best way to trade gold is with a top-tier online gold broker in the UK. For your convenience, the best brokers have been listed in this very guide. Just keep in mind that these brokers offer gold trading as derivatives, meaning that you will never buy gold or a futures contract on gold, but rather speculate on the price movements.
If you’re looking to invest in gold with a long-term strategy, we suggest that you buy actual gold instead of investing online. For example, by purchasing gold jewelry or gold bullion that you can sell for market price when you’re investment has reached your profit goals.
There really aren’t many disadvantages to trading gold online. If you have a solid strategy and can analyze the value of gold properly, there is nothing that stops you from trading it.
One frustrating characteristic of gold trading is that gold is a rather stable instrument that does not fluctuate very much, thus the number of trading opportunities is somewhat limited.
Yes, gold is completely legal and regulated in the UK. To trade gold using a UK broker, you have to be at least 18 years old and find a broker licensed by the Financial Conduct Authority (FCA).
However, you could technically trade gold by buying physical gold and sell it to someone else. This type of trading (or investing) is less regulated since gold is available to purchase pretty much everywhere in the UK.
We have provided all the information, tips, and recommendations that you need to start trading gold in the UK. We suggest that you read through the entire guide so that you don’t miss out on something important.
Also, don’t forget to read up about the different brokers that we’ve listed before you start trading. That way, you can ensure that you find the best gold broker for your specific needs.
Yes, you can get rich from investing in gold, although you shouldn’t count on it. As mentioned, gold is a stable instrument that doesn’t fluctuate a lot which limits the opportunities to make money from it.
Also, upwards of 80% of all retail investors and traders end up losing money in the long run.
You trade gold online by finding the best gold broker in the UK, registering an account, and depositing money. After that, you will gain access to said broker’s trading platforms where you can analyze the price of gold and open positions.
Remember, trading is a risky activity, and losses could occur.
For more information on how to trade gold and how to find the best gold broker, please refer to the guide on this page.
Conclusion
As gold trading gains popularity in the UK, considering our recommended gold brokers above can provide a solid starting point. You should also learn more about how to trade gold online and develop effective strategies for maximum experience and potential profits. Remember, trading involves risks, so start with amounts you are comfortable losing and implement risk management controls. Most importantly, stay informed and continuously learn, as the gold market’s volatility demands adaptability. Above all, trade responsibly and with patience, knowing that success comes with diligence and perseverance.
How we test?
Our test process is really based on two different aspects: our independent tests and research, as well as user reviews from Google Play, the App Store, and Trustpilot, etc.
The first thing we do when testing is to check every detail and test every tool and instrument. Our experts spend more than 200 hours on every article. We pay special attention to the specific function or the criteria that we’re comparing during the comparing stage. This means that we must determine which broker is more suited for beginners, and which is better suited for experts, for example. Find out more about our test process here.
Thanks for this article! Gold trading is a safe haven investment!
Excellent guide on trading gold! The article clearly explains various methods such as spot price trading, forex, futures, and CFDs. It covers essential aspects, from choosing a broker to avoiding scams. Emphasizes the importance of diversification and risk management. I liked how it underscores the need to trade responsibly, following a strategy and not letting emotions take over. Highly recommend for those looking to understand gold trading!