Commodities trading has a rich history spanning decades, and with the advent of online technology, numerous trading platforms have emerged. However, selecting a suitable platform amidst so many choices can be daunting for traders, especially newbies. To solve this problem, our TradingGuide experts have researched and compiled this comprehensive guide listing the best commodity trading platforms in the UK. We have also highlighted additional information, including understanding what is commodity trading, how to get started in this scape, and more.
Essence
- Commodity trading involves the buying and selling of raw materials or primary goods such as metals, energy resources, agricultural products, and more, aiming to profit from price fluctuations.
- Opt for an FCA-regulated commodity broker to ensure compliance, security, and a trustworthy trading environment.
- Selecting a commodity trading platform that aligns with individual needs for maximum experience is crucial.
- User opinions on Google Play, the App Store, and Trustpilot offer valuable insights into platform reliability.
- The daily volatility of commodity markets provides opportunities for traders to capitalise* on price movements, presenting potential profit-making opportunities.
- Trading commodities has become more accessible for individuals with the availability of advanced tools and mobile apps.
- Factors like supply and demand dynamics, weather conditions, geopolitical events, and global economic trends influence commodity prices.
*Don’t invest unless you’re prepared to lose all the money you invest.
List of the Best Commodity Trading Brokers in the UK 2024
- Pepperstone – Best Commodity Trading Broker for Beginners
- Admiral Markets – Best Commodity Brokers for MT5 Users in the UK
- Plus500 – Great Commodity CFD* Provider for Mobile Trading
- Spreadex – Best Commodity Futures Broker in the UK
- FP Markets – Commodity Trading Broker For Professional Traders
- XTB – Best Commodity Trading Broker With Excellent Support Service
- AvaTrade – Best Commodity Broker Featuring AutoTrading Solutions
- eToro – Best Commodity Trading Platform For Social Trading
- FxPro – Best Commodity Broker For Spread Betting in the UK
- OANDA – Best UK Commodity Broker For MT4 Users**
- Interactive Brokers – Commodity Trading Broker with the Lowest Trading Fees
- Saxo – Best Commodity Trading Broker with the Tight Spreads
*80% of CFD retail accounts lose money on Plus500
**76.6% of retail investor accounts lose money when trading CFDs with OANDA provider
How We Choose Commodity Brokers
At TradingGuide, we take our research process for selecting and recommending the best commodity brokers very seriously. Our methodology is thorough, leaving no stone unturned to ensure that our readers have access to the most reliable and reputable options in the market.
We begin by compiling an extensive list of commodities brokers available. This involves thorough research and exploration to ensure we consider a wide range of options. We prioritise the safety and security of our readers’ investments. Therefore, we verify that the brokers we select are licensed and regulated by the Financial Conduct Authority (FCA).
Once we have identified regulated brokers, we sign up for trading accounts on their demo platforms. We conduct multiple tests through these accounts to evaluate each broker’s performance and features. We then compare the brokers’ performances based on our predefined criteria and specifications. Only those that meet our high standards are considered for inclusion in our recommendations list.
Our research process doesn’t stop with our proprietary tests. We also analyse user comments and ratings on Google Play, the App Store, and Trustpilot. This helps us gain valuable insights into real users’ experiences and further helps our evaluation process. We then combine our own test results and user feedback analysis findings to formulate the final list of recommended commodity brokers above.
In this guide
Best Commodity Trading Brokers in the UK
- List of the Best Commodity Trading Brokers in the UK 2024
- Compare Best Commodity Trading Brokers in the UK
- Brief Overview of Our Recommended Commodity Brokers’ Fees and Assets
- Our Opinion & Overview of the Best Commodity Trading Platforms in the UK
- What do Other Traders Say?
- The Ultimate Guide About Commodity Trading
- FAQs
Compare Best Commodity Trading Brokers in the UK
In our research process, we test commodities brokers and compare their features to ensure we recommend the best options for your trading needs. Below, you will find a table comparing some of the leading brokers in the UK. Take a closer look at their features to make an informed decision for your commodities trading journey.
| Best Commodities Broker | Licence | Support Service | Software | Payment | Demo Account | Money Insurance |
|---|---|---|---|---|---|---|
| Pepperstone | FCA, ASIC, DFSA | 24/7 | MetaTrader 4, MetaTrader 5, cTrader, TradingView, Capitalise.ai, Social Trading | Credit cards, Bank transfer, PayPal, Neteller, Skrill, Union Pay | 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) |
| Plus500 | FCA, CySEC, ASIC, MAS, FSA | 24/7 | Plus500 Webtrader | Bank Wire Transfer, Credit/debit cards, Paypal, Skrill | 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 | 24/7 | MT4, MT5, cTrader, Iress | Credit/debit cards, Bank transfer, PayPal, Neteller, Skrill, PayTrust FasaPay | Yes | Yes (up to $500,000) |
| XTB | FCA, KNF, CNMV | 24/5 | xStation 5, xStation Mobile | Credit/debit cards, Bank Transfers, Skrill | Yes | Yes (up to £85,000) |
| AvaTrade | CBI, CySEC, ASIC, BVIFSC, FSA, SAFCSA, ADGM, ISA | 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 |
| eToro | ASIC, CySEC, 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) |
| 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 (up to £85,000) |
| OANDA | FCA, CySEC, FSA | 24/5 | MT4 | Credit/debit cards and Wire transfer | Yes | Yes (up to £85,000) |
| Interactive Brokers | FSA, FCA, SEBI, ASIC, FINRA, CIRO | 24/5 | Trader Workstation, IBKR Mobile, IBKR EventTrader, IBKR GlobalTrader, IMPACT | Bank transfers, e-wallets, credit/debit cards | Yes | Yes (up to £85,000) |
| Saxo | FSA, FCA | 24/5 | SaxoTraderGO, SaxoTraderPRO | Bank Wire Transfer, Debit cards | Yes | Yes (up to £100,000) |
Brief Overview of Our Recommended Commodity Brokers’ Fees and Assets
As a commodity trader, choosing a broker with features that align with your trading needs is essential. Brokers’ fees and featured assets are among the elements to consider in your choices. Below, we have prepared tables showing these elements for informed choices.
Fees
| Best Commodities Broker | Fees | Minimum Deposit Requirement | Transaction | Inactivity |
|---|---|---|---|---|
| Pepperstone | From 0.0 pips | £500 | Free | None |
| Admiral Markets | From 0.0 pips | £250 | Free, but 1% exchange fee | €10 monthly |
| Plus500 | From 0.0 pips | £100 | Free | £10 monthly |
| Spreadex | From 0.6 pips | £0 | Free | None |
| FP Markets | From 0.0 pips | £100 | Free | None |
| XTB | From 0.1 pips | £0 | Free | £10 monthly |
| AvaTrade | 0.03 pips | £100 | Free | £50 quarterly |
| eToro | From 2 pips | $100 | $5 withdrawal | $10 monthly |
| FxPro | From 0.1 pips | £100 | Free | £15 one-off maintenance fee |
| OANDA | From 0.0 pips | £0 | Free | £10 monthly |
| Interactive Brokers | From $0.01 commission on US stocks | £0 | Free | None |
| Saxo | From £0.02 commission | £2,000 | Free | £100 monthly |
Assets
| Best Commodities Broker | Forex | Stocks | Commodities | ETFs | Options |
|---|---|---|---|---|---|
| Pepperstone | Yes | Yes | Yes | Yes | Yes |
| Admiral Markets | Yes | Yes | CFDs on commodities | Yes | No |
| Plus500 (CFDs) | Yes | Yes | Yes | Yes | Yes |
| Spreadex | Yes | Yes | Yes | Yes | Yes |
| FP Markets | Yes | Yes | Yes | Yes | No |
| XTB | Yes | Yes | Yes | Yes | Yes |
| AvaTrade | Yes | Yes | Yes | Yes | Yes |
| eToro | Yes | Yes | Yes | Yes | No |
| FxPro | Yes | Yes | Yes | No | No |
| OANDA | Yes | Yes | Yes | Yes | No |
| Interactive Brokers | Yes | Yes | Yes | Yes | Yes |
| Saxo | Yes | Yes | Yes | Yes | Yes |
Our Opinion & Overview of the Best Commodity Trading Platforms in the UK
As professionals in this field, we conducted multiple tests on hundreds of commodities brokers in the UK. Below, we share our opinion and overview of these brokers based on our hands-on experience. We aim to give you accurate information, ensuring you make the best choice that aligns with your commodity trading requirements.
1. Pepperstone – Best Commodity Trading Broker for Beginners
Beginners need a trading platform that can help them develop their trading skills gradually while giving them a shot at making profits, in which case Pepperstone has proven to be the best for commodity trading in the UK due to its user-friendly platform.
There are more than 800 assets available for trading on the platform, including commodities such as gold, silver, Spot Crude, Spot Brent, natural gas, and more. All these commodities are traded as CFDs on a platform that is intutively designed.
Additionally, Pepperstone charges one of the lowest spreads, which is perfect for beginners as it allows them to gain enough experience before they are ready to invest a larger amount of capital. Its customer support is also reliable and responsive. Therefore, anytime a trader faces any issue they can quickly reach out to them and get it resolved.
✔ No dealing desk intervention
- Free transactions.
- Low spreads.
- Excellent educational material to learn more about commodities trading.
- Limited product portfolio.
- Customer service is only available five days a week.
| Type | Fee |
| Minimum Deposit | $200 |
| Withdrawal fee | $0 |
| Deposit fee | $0 |
| Inactivity fee | No |
| Account fee | No |
2. Admiral Markets – Best Commodity Brokers for MT5 Users in the UK
Admiral Markets is another broker that offers commodities traded as Contracts for Difference (CFDs) 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 MT Supreme Edition and Stereo Trader addons, 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 for gold traders who are cautious about their spendings. The good news is that all deposits are free, and no spread will be charged on Zero.MT5 account. But for more details, please, check out all spread and fees here –
https://admiralmarkets.com/start-trading/contract-specifications/cfd. If you are looking for additional asset classes to diversify your portfolio, Admiral Markets features an additional 8,000+ instruments, including shares, ETFs, CFDs on 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 commodity 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 |
Risk warning: 61% of retail CFD accounts lose money.
3. Plus500 – Great Commodity CFD Provider for Mobile Trading
*Illustrative prices
Commodity traders who are always on the move need a reliable trading app that executes orders seamlessly on mobile devices. Considering that, Plus500 must be amongst your top choices. In fact, it has been rated one of the best mobile trading apps* by users on Google Play and App Store.
This broker has an intuitive design Plus500’s platform has an intuitive design that is user-friendly and customisable. What’s more, the platform doesn’t charge any fee when you trade commodities. This means that Plus500’s profits are mainly generated from spreads, which are also among the lowest in the industry. But the platform does charge a fee for overnight funding, a currency conversion fee, a guaranteed stop order fee, and an inactivity fee.
Another notable feature of Plus500 is that it has reliable and responsive customer service that is available 24/7. So, you can still trade any time of the day you see fit and be confident that any issue that crops up during trading will be looked into within a short period.
*Investment Trends 2022
✔ Regulated in many countries
- $100 minimum deposit requirement, which ranges among the lowest.
- 24/7 customer service.
- Zero commission.
- No transaction charges.
- Limited product portfolio.
- Limited educational and research materials.
| 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.
4. Spreadex – Best Commodity Futures Broker in the UK
Spreadex is unquestionably one of the best choices for traders seeking a reliable and versatile platform to engage in commodity futures trading in the UK. With its extensive history, Spreadex has cultivated a reputation for excellence in facilitating commodity futures trading. The broker offers a comprehensive range of commodity futures contracts, encompassing precious metals like gold and silver, energy commodities such as crude oil and natural gas, and more. This extensive offering ensures that investors have the tools they need to diversify their portfolios and capitalise on price movements in these essential markets.
Overall, Spreadex is a user-friendly broker, making it a great choice for traders across any skill level. It also offers valuable tools and resources for market analysis and strategy development. On top of that, Spreadex’s competitive pricing and low spreads enhance the overall appeal of the platform, ensuring that traders can engage in commodity futures trading cost-effectively. Furthermore, if you ever encounter any challenges while using Spreadex, you can count on its dedicated and reliable support service for assistance.
✔Helpful customer service
- Low spreads starting from 0.4 points on Gold
- Deal in spread betting or CFDs
- No minimum deposit requirement
- Additional 10,000+ securities for portfolio diversification
- No demo account
- No 24/7 support service
| Type | Fee |
| Minimum deposit | Free |
| Overnight fee | Yes |
| Deposit fee | Free |
| Withdrawal fee | Free |
| Inactivity fee | Free |
5. FP Markets – Commodity Trading Broker For Professional Traders
FP Markets can be an excellent choice for professional commodity traders in the UK due to its superior technology. You can trade multiple commodity futures on the platform, including crude oil, gold, silver, natural gas, etc. Regarding market analysis tools, FP Markets offers advanced resources on its superior MT4, MT5, and Iress platforms. To get started, all you need to do is sign up for a trading account on the broker’s website and deposit at least £100. Remember, deposits at FP Markets are free, and you can transact using various payment methods, including e-wallets, bank transfers, and debit/credit cards.
FP Markets prides itself on providing a fast, secure, and reliable commodity trading environment. The broker uses top-of-the-line security measures, including SSL encryption, to protect traders’ personal and financial information. In addition, FP Markets provides 24/7 customer support which you can access via phone, email, and live chat. This ensures that commodity traders in the UK have access to expert assistance whenever needed. Lastly, commodities trading fees on the platform are low, and you get to enjoy leverage of up to 1:500.
✔Accounts can be opened fast and easy
- Advanced resources for maximum experience
- Low commodity trading fees from as low as 0.0 pips
- Fast trade execution speed
- Additional asset offerings, including forex, stocks, cryptocurrencies, bonds, and more for portfolio diversification
- Zero transaction fees
- Can only trade commodities as CFDs
- Commodity product offerings could be improved
| Type | Fee |
| Minimum deposit | $100 |
| Overnight fee | $0 |
| Deposit fee | $0 |
| Withdrawal fee | Depends on payment method |
| Inactivity fee | $0 |
6. XTB – Best Commodity Trading Broker With Excellent Support Service
While evaluating XTB, we focused on gauging the responsiveness of its support team, a key concern for every commodity trader. Through our interactions with XTB’s support team, we discovered dedicated professionals who skillfully provided relevant solutions to our inquiries. Besides being responsive and friendly, the team conducts follow-ups to ensure users’ issues have been resolved and they are satisfactied with their trading experience.
XTB also offers a wealth of learning resources, comprising guides, articles, webinars, and more. Moreover, XTB offers over 27 commodities that can be traded on its platform along with other asset classes like forex, shares, indices, and more, which can help traders diversify their portfolios easily. Furthermore, XTB offers competitive interest rates on uninvested funds, allowing traders to potentially earn up to 5%. Currently they are offering interest rates of 3.8% for EUR and 5.0% for USD deposits. The broker’s compatibility across both desktop and mobile devices enhances accessibility and flexibility for traders seeking a comprehensive commodity trading experience.
✔ Wide range of global markets
- A reliable and responsive support team via email, phone, and live chat
- Compatible with desktop and mobile devices
- Plenty of learning and research materials
- Highly secured and regulated by the FCA
- Commodity assets are available for CFD trading only
- Support service operates five days a week, thus inconveniencing clients trading 24/7
| 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. AvaTrade – Best Commodity Broker Featuring AutoTrading Solutions
AvaTrade is one of the leading CFD brokers offering a wide range of hard and soft commodities to explore. The best element about this broker is that it is tailored with all traders in mind. For instance, beginners have an opportunity to trade commodities on a user-friendly and customisable platform. They can also explore social and copy trading via AvaSocial, DupliTrade, and ZuluTrade platforms. If you are an expert trader, you can trade commodities via the broker’s MT4 and MT5 platforms. You will also enjoy quality trading tools, including Expert Advisors and Guardian Angel add-ons.
To start trading commodities with AvaTrade, traders must make a minimum deposit of £100. Commodity spreads are low, and you can take as many short-term positions as you can afford to potentially earn good profits. On top of that, AvaTrade has a highly rated AvaTradeGO app that makes it easier for you to manage your activities anywhere, anytime.
✔ Quick deposits and withdrawals
- Variety of auto trading solutions for newbies and professional traders
- Low minimum deposit requirement
- Commodity trading across various sectors, including Agriculture, energies, and precious metals
- Leverage options of up to 200:1 on major soft commodities
- Commodity assets are featured for CFD trading only
- High minimum deposit requirement for copy and social trading platforms
| 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 |
8. eToro – Best Commodity Trading Platform For Social Trading
eToro lists over 32 commodities, including popular ones like gold, silver, crude oil, copper, and more. The broker is user-friendly for beginners and features a £100,000 virtually funded demo account to test it with. On the eToro platform, you will also enjoy quality learning materials through which you can quickly boost your skill level using your desktop or mobile device.
One notable feature of this commodity broker in the UK is its social trading platforms. If you are a beginner or commodity trader with limited time for conducting research, this social platform will help you learn various strategies from like-minded traders. You can also follow the most successful professional traders on the platform, easily copy their trades and earn profits when they do.
✔Low minimum to fund an account and begin investing
- Over 30 commodities to trade
- A user-friendly and customisable platform
- Low minimum deposit requirement of $100
- Additional securities for portfolio diversification
- High commodity trading fee
- Charges withdrawal fee
| 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) |
9. FxPro – Best Commodity Broker For Spread Betting in the UK
Commodity trading is skyrocketing in the UK and FxPro attracts several traders with a host of options. While testing it, we traded various commodities on the platform, including gold, silver, platinum, aluminium, zinc, and more. Commodity trading fees on FxPro are also low, and we can confidently recommend the broker to beginners and low-budget traders. Besides commodities, FxPro lists an additional 2,100 CFD+ assets, including shares, forex, indices, and more, providing traders with a diverse range of options.
To get started with FxPro, you need to make a minimum deposit of £100. With such a low initial deposit requirement, FxPro ensures accessibility for all types of traders interested in CFD trading and spread betting on commodities. The competitive spreads, automated trading options, and reliable support service contribute to the overall appeal of FxPro as a top commodity broker.
✔ 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 Commodity Broker For MT4 Users
OANDA Europe LTD allows its users to trade forex and CFD assets across various markets. If you are a commodity trader, you can explore a wide range of commodity assets, including crude oil, copper, wheat, natural gas, and more. Moreover, the broker offers seamless integration with MT4. So, if you are an MT4 user looking to trade commodities, OANDA Europe LTD is worth considering.
Besides featuring commodities, OANDA Europe LTD also allows you to trade forex, indices, and bonds at low fees. Its platforms have fast execution speeds, and you can also download its trading app from Google Play and the App Store for an exciting experience on the go. Regarding trading tools, you can rely on OANDA’s vast collection of them to help you improve your skill level and strategies.
✔ Fast and user-friendly account opening
- MT4 compatibility
- Wide range of commodities, including oil, copper, etc
- Customisable trading tools
- Additional CFD instruments for portfolio diversification
- Customer service operates five days a week
- You can only trade commodities as CFD
| 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.
11. Interactive Brokers – Commodity Trading Broker with the Lowest Trading Fees
Interactive Brokers is an award-winning broker with a long track history. It is popular in the UK and globally mainly because of its low trading costs on commodity trading, which has successfully attracted thousands of traders.
If you are a frequent trader or a commodity trader who is budget-conscious, Interactive Brokers is worth trying. You’ll find a wide range of commodities to trade on their platform, all with low trading commissions.
Additionally, Interactive Brokers provides access to top-quality research and educational materials. You can use these resources to develop your skills in commodity trading and increase your profit potential.
✔ Top trading platform for advanced
- Low trading fees
- Top-notch research and educational tools.
- Excellent platform for advanced traders.
- Inactivity fees apply to the IBKR Pro account.
- Challenging to navigate website.
| Type | Fee |
| Minimum Deposit | $10 |
| Deposit Fee | Free |
| Withdrawal Fee | Free |
| Inactivity Fee | $0 |
12. Saxo – Best Commodity Trading Broker with the Tight Spreads
With Saxo you can not only trade commodities but other asset classes like CFDs, ETFs, futures, options and spot pairs as well. Saxo’s trading platform is also intuitively designed with integrated trade signals, a news feed, and innovative risk management controls.
Additionally, this broker offers customizable features, ensuring an enjoyable experience for all types of traders. Trading commodities with Saxo is budget-friendly, as there’s no minimum deposit required to get started. With some of the tightest spreads and low commissions, we especially recommend it for active traders.
✔ Best for experienced traders
- Low trading fees.
- No transaction costs.
- Customisable trading platform.
- Wide range of product selection
- No MetaTrader platforms.
| Type | Fee |
| Minimum deposit | $0 (for Classic account) |
| Inactivity fee | $0 |
| Deposit fee | $0 |
| Withdrawal fee | $0 |
| Manual order fee | €50 per order |
| Stocks | from $1 on US stocks |
| Futures | $1 per lot |
| Listed options | $0.75 per lot |
| ETFs | from $1 |
| Bonds | from 0.05% on govt. bonds |
| Mutual funds | $0 |
What do Other Traders Say?
As mentioned earlier, we visit Google Play, the App Store, and Trustpilot to sample user ratings and comments to ensure we remain unbiased in our research process. We share a few of the comments we gathered so you can also get insight into other traders’ experiences and make a suitable choice.
Pepperstone
Pepperstone is praised for its transparent pricing and excellent customer service. Traders value the platform’s advanced trading features and seamless user experience.
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“Andrea ? Was a fantastic customer service consultant to solve my issue with in a minute that other consultant was struggling to find out. 5 Star for Andrea ?” – Sajid
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“I’ve used many trading platforms, and this is my favourite. Took me a while to get used to it, as it was slightly different from what I was used to, but now love it & all its features.” – Jana from Gold Coast
Plus500
Many traders praise Plus500 for its user-friendly and customisable platform. Some appreciated its trading app’s efficiency, while others love the responsiveness of its support service.
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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
Spreadex
Spreadex receives an acknowledgement for its diverse range of markets and flexible trading options. Traders appreciate the platform’s simplicity and efficient customer support.
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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
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“A very useful financial spread betting app that should cover all your needs. It’s definitely the most useable of the broker apps that I’ve tried. A great platform that lets you analyse the markets, place spread bets & manage your risk and positions all on your phone. They’ve also got a great range of tools and excellent customer service which I found very attractive. 10/10 for my experience with Spreadex thus far” – JakeReadman
FP Markets
Traders speak highly of FP Markets’ tight spreads and fast execution speeds. The broker’s robust trading tools and educational materials also receive positive feedback.
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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
XTB
Traders commend XTB for its extensive and quality educational resources. The platform’s intuitive interface and reliable execution are also highlighted as notable strengths.
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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
AvaTrade
AvaTrade earns recognition for its wide range of trading instruments and user-friendly platform. Traders appreciate the broker’s reliability and responsive client support.
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“Mobile application is best to use because it is easy for me rather than working on a computer my phone is often on my hand and easy to use” – Andile M
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“I was assisted by Alev Nazli. She was very friendly and helpful. Made sure I understood the platform and confirmed that I’m all set to go. She followed up the next day as well. Much appreciated.” – Michael S
eToro
Traders highlight eToro’s innovative social trading features and user-friendly interface. The platform’s copy trading functionality and diverse asset selection are particularly well-received.
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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
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“Etoro is a great place to trade with personalised support. I’m lucky to have Callum as account manager who is always a very useful point of contact which is a key part of my trading experience. Also super chuffed with the occasional VIP experiences!” – Francois Jardin
FxPro
FxPro is lauded for its competitive pricing and robust trading infrastructure. Traders commend the broker’s educational resources and professional customer support.
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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 receives praise for its transparent pricing and comprehensive research tools. Traders value the platform’s reliability and user-friendly interface.
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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
Interactive Brokers
Interactive Brokers is commended for its extensive range of tradable assets and advanced trading tools. Traders appreciate the broker’s competitive pricing and efficient order execution.
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“They have a great platform for new and advanced traders . Their customer service is great , very helper, and quick to respond. There are a lot of tools at ur fingertips to inform and educate.” – Brad Fountain
Saxo
Saxo earns recognition for its diverse range of asset classes and comprehensive research offerings. Traders highlight the platform’s stability and responsive customer support.
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“The person was very patient and good at slowly explaining things step by step and also strived to introduce the useful functions of the trading platform.” – Frank Sakda Sreesangkom
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“Took a bit to get used to, but now I can really appreciate the slick UI and great performance. Wide range of products and their support replied in a timely manner the few times I had questions. Also never had any problems with outages which is a huge relieve” – Christoph Müller
The Ultimate Guide About Commodity Trading
Besides testing, comparing, and recommending commodity trading brokers or platforms in the UK, we aim to educate our readers regarding what commodity trading is and how to manoeuvre the market. We have prepared the following sections to educate you more on commodity trading and ensure you get started on a good note.
What is Commodities Trading?
Commodity trading is the buying and selling of raw materials or primary products like agricultural goods, energy resources, and metals. These commodities serve as essential components of various industries worldwide. For instance, oil is crucial for transportation and manufacturing, while gold is sought after for its value and use in jewellery and electronics.
In commodity trading, investors and traders speculate on the future price movements of these raw materials. They aim to profit from fluctuations in supply and demand, geopolitical events, and macroeconomic factors. For example, a trader might anticipate a rise in oil prices due to geopolitical tensions or increased demand during winter.
Commodity trading can be conducted through various financial instruments, including futures contracts, options, exchange-traded funds (ETFs), and physical trading. Each instrument offers its own advantages and risks, catering to different trading strategies and preferences.
Is Commodities Trading Risky?
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.
Trading commodities in the UK is risky, much like trading or investing in other asset classes. Commodities are known for being highly volatile, with the commodity market exhibiting twice the volatility of stocks and four times that of bonds. This volatility magnifies the risk of errors, making commodities trading daunting for some.
Low liquidity further contributes to the risk factor in commodities trading. Unlike stocks, bonds, and forex, many commodities on futures exchanges witness lower trading volume, impacting their liquidity and stability.
Moreover, commodities are susceptible to geopolitical events, such as wars and conflicts, which disrupt supply chains, causing scarcity and price spikes. For instance, the Russia-Ukraine war disrupted wheat exports, triggering a surge in wheat prices globally.
Natural disasters also pose significant risks to commodity markets. Consider the impact of hurricanes on oil production facilities in the Gulf of Mexico, leading to disruptions in oil supply and subsequent price fluctuations.
Another example is the effect of droughts on agricultural commodities like corn and soybeans, affecting crop yields and driving prices higher. Such unforeseen events highlight the inherent risks associated with commodities trading, necessitating thorough risk management strategies for traders.
How to Choose the Best Commodity Trading Broker in the UK
Whether you are conducting your own research or choosing a commodity trading UK broker from our recommendations list, there are various elements to consider before deciding which platform is best for you. Below, we shed light on some of those factors so you can identify a broker that can enhance your experience and potential to earn profits in commodity trading.
First and foremost, ensure that the commodity broker UK you are considering is licensed and regulated by reputable authorities such as the UK’s Financial Conduct Authority (FCA). Regulatory oversight assures fair practices, security of funds, and adherence to industry standards. The best commodity broker should also be highly encrypted with added security measures such as two-factor authentication for increased safety.
The best broker should offer your preferred commodities, allowing you to plan your trading activities with ease. It’s also beneficial to choose a broker that includes additional asset classes like stocks, forex, cryptocurrencies, and more. This way, you can easily diversify your portfolio and limit the risks that come with trading a single asset.
Assess the broker’s trading platform for its functionality, ease of use, and reliability. A user-friendly platform with advanced trading tools and features can enhance your trading efficiency and experience. The platform should also host quality learning resources to boost your skill level as you become more acquainted with trading.
Prompt and efficient customer support is essential for resolving queries and addressing concerns. The best broker for commodity trading should be accessible through multiple communication channels such as live chat, email, and phone support, ensuring assistance is readily available when needed. They should also have a very responsive team that provides relevant solutions to any concerns or challenges.
Consider the broker’s fee structure, including commission fees, spreads, and any additional charges. Opt for brokers offering competitive pricing while maintaining transparency in fee disclosure to avoid unexpected costs. You should also confirm the non-trading charges, such as minimum deposit requirement, inactivity fees, transaction costs, and more.
A demo account provides a risk-free environment to test the broker’s platform and trading services before committing real funds. Ensure the broker offers a demo account with access to real-time market data and features simulating live trading conditions.
How To Register an Account with a Commodity Broker
As a beginner, you must be wondering how to register an account with a commodity broker. Before we guide you through the process, ensure you are fully informed about the commodity asset you plan to trade. Also, identify a broker from our list above and install its trading app on your mobile device to effectively manage your positions while on the move. Then, proceed with the procedures below to get started.
With your chosen broker, visit its website to begin the account registration procedure. If you have selected from our list, click on any of the links on this page for quick access. Ensure you understand the broker’s terms and conditions before you click the register form. This is to avoid future inconveniences once you are fully invested.
Once you’ve chosen a broker, visit their website and locate the option to open an account. You’ll typically be required to fill out an online application form with personal details such as your name, address, contact information, and financial information.
To comply with regulatory requirements, brokers often ask for documents to verify your identity and address. This may include a copy of your passport or driver’s licence for identification purposes and a recent utility bill or bank statement as proof of address. Upload these documents securely through the broker’s online portal.
After verifying your identity, you’ll need to fund your trading account. Most brokers offer multiple funding options, including bank transfers, credit/debit cards, and electronic payment methods. Choose the most convenient option for you and follow the instructions provided to deposit funds into your account.
Once your account has been funded, you’re ready to start trading commodities. Log in to your trading platform using the credentials provided by the broker and familiarise yourself with the platform’s features and tools. You can then place trades, monitor your positions, and manage your portfolio directly from the platform.
Different Types of Commodities
Commodities are classified into various categories based on their characteristics and usage in the market. Understanding these different types of commodities is essential for diversifying investment portfolios and navigating the complexities of the commodities market. Here’s an overview of some common types of commodities.
- Agricultural commodities – Agricultural commodities include a wide range of soft commodities grown on farms or cultivated in agriculture. These can include rice, wheat, maize, oilseeds such as soy and groundnut, and fruits and vegetables. Agricultural commodity prices are heavily influenced by factors like weather patterns, political conditions, and consumer demand.
- Energy – Energy commodities are essential hard commodities that are crucial in modern economies. This category includes crude oil, natural gas, coal, and electricity. Crude oil is the lifeblood of many industries, powering transportation, manufacturing, and other sectors. Natural gas is a vital source of energy for heating and electricity generation, while coal remains a significant contributor to global energy production.
- Metals – Metals are indispensable hard commodities that are applicable to various industries, including construction, transportation, and technology. Examples of metal commodities are gold, silver, and platinum, which are valued for their rarity. There are also industrial metals like copper, aluminium, and zinc, used in manufacturing and infrastructure development.
- Livestock and Meat – Livestock and meat commodities are essential to many people’s diets worldwide. This category includes beef, pork, poultry, and other meat products. Livestock and meat markets are sensitive to factors such as weather patterns, disease outbreaks (e.g., avian flu, swine fever), and global economic conditions.
Commodities vs Stocks and Shares
Commodities and stocks (or shares) represent distinct investment options with unique characteristics. Commodities are physical goods like oil, gold, and wheat, while stocks denote ownership in publicly traded companies. One notable difference is that commodities often serve as a hedge against inflation, while stocks are viewed as investments in a company’s growth potential.
Commodities tend to be more volatile than stocks due to rapid price fluctuations driven by changes in supply and demand and geopolitical events. On the other hand, stocks offer lower volatility and can yield higher returns over the long term in low-inflation environments. Your choice between trading commodities or stocks should align with your investment goals, risk tolerance, and market understanding.
Pros And Cons Of Commodities Trading
Commodity trading has a lot of benefits, but the activity also comes with a few pitfalls. Here are the major pros and cons of trading commodities in the UK financial landscape.
Pros
- Diversification – Trading commodities allows you to diversify your portfolio across other asset classes, thus mitigating trading risks.
- Inflation Hedge – Certain commodities, like gold, act as hedges against inflation, preserving purchasing power.
- Potential for High Returns – The commodities markets can be volatile, thus presenting opportunities for significant profits.
- Global Market Exposure – Trading commodities provides exposure to global economic trends and geopolitical events.
- Tangible Assets – Commodities represent physical assets, thus providing a sense of security for investors.
Cons
- Volatility – While volatility can present potentially profitable opportunities, it can also bring about losses due to sudden price swings.
- Lack of Income – Commodities do not generate income like dividend-paying stocks, relying primarily on price appreciation for returns.
- Limited Regulatory Oversight – Some commodities markets may have less regulatory oversight, potentially increasing the risk of fraud and manipulation.
FAQs
A commodity broker executes trade orders to either buy or sell commodities on behalf of traders at a specific fee, commonly known as commission or spread. So if you have been wondering whether you can trade commodities without a broker, it will be challenging for you to do so. The UK Financial Conduct Authority (FCA) is strict when it comes to securing traders’ funds and offering the best trading conditions. That is why it is essential that you only trade using FCA regulated broker. Besides, you will have the opportunity of taking legal action against a broker that goes against your agreement when necessary. Luckily, this page recommends the best commodities broker, so feel free to choose one meeting your needs.
Like other financial assets, commodities can be bought from a commodity’s market. However, you can only do so in the UK through a broker that is regulated by the Financial Conduct Authority (FCA). To purchase your preferred commodity, ensure you fully understand its market and have conducted extensive research and market analysis. Then, identify the best commodity broker from our list above based on your trading requirements. If you are a newbie, sign up for a demo account and explore how the broker works. You can then open a live account by providing the required information until your trading account if fully verified to start trading.
Yes. You can make a lot of money trading commodities if you are highly knowledgeable and competent. So, keep improving your experience, and before you know it, you will be a successful trader.In addition, find the best broker that offers adequate resources for skills and strategy development. Remember, your first try can bring about losses, so do not give up but take the losses as a learning experience. We advise that you start commodities trading with little amounts of money since you do not want to end up losing most of your capital before giving the activity your all.
Yes. Commodity assets, especially those that can be traded on margin, are highly risky. However, as much as they are risky and can make you lose a lot of money, they can also earn you a substantial amount of profits. That is why it is important that you conduct the necessary market analysis and come up with a solid strategy. Also, commodities brokers host risk management control tools to use and minimize your chances of losing a lot of money in case of a loss. Simply put, have a critical eye when choosing a broker and the commodity you want to trade to maximize your potential.
Futures contracts are one way to hold commodities long-term. You can also invest in commodities directly or as EFTs and mutual funds. To do so, you must find a reliable broker with excellent reputation. In this guide above, we list the most trusted brokers you can invest commodities with. All you have to do is make a choice while considering your trading needs.
Yes. You can start commodities trading with as little as ﾣ10. However, remember that you will not earn as much profits as you would trading with ﾣ100. Therefore, if you are a newbie who is sceptical of putting up a lot of funds, ensure you start investing with small amounts of money and increase slowly as you get familiar with how commodities trading work. The good news is that most brokers offer learning resources and demo accounts. Therefore, becoming skillful will only depend on how badly you want to.
Conclusion
Ultimately, having the best commodity trading platform or broker in the UK depends on your personal trading requirements and risk tolerance. With our guidance above, we hope you can make the best decision and kickstart your commodity trading journey on a good note. Simply start by signing up for a broker’s demo account, as it is a risk-free environment to learn how commodity trading works before investing any real money. Most importantly, do not forget to apply risk management controls while trading and spread your capital across various asset classes. This approach ensures you can mitigate the risk of losing money in a single asset.
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.
I traded with Pepperstone for 10 months. Results were amazing: I increased the initial deposit around 50 times.
This informative guide breaks down complex concepts into easy-to-understand parts. Now, I confidently trade gold futures and oil contracts, diversifying my portfolio. The guide's insights on choosing a commodity broker were invaluable. Following its advice, I registered with an FCA-regulated broker hassle-free. The step-by-step account registration guide was a lifesaver! It's like having a knowledgeable friend guiding you. If you're new to commodities trading, this guide is a must-read. Kudos to the creators for simplifying a potentially daunting topic!
This article about commodity markets is really helpful! It covers everything about brokers and managing risks spot on! I recommend it, especially if you want to understand how to make money on commodities. I'm thrilled with materials like these!