Best Brokers For Gold Trading

Top Gold Trading Brokers Reviews

1

9.4/10

Go to broker

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest.

Minimum deposit:

$50, $100 (for UK clients)

Bonus for deposit:

0%

Regulation:

CySEC, FCA, ASIC

Review

The eToro broker was founded in 2007. The company promotes itself as a social trading platform working with traders from over 140 countries. The broker has several divisions operating under different jurisdictions and licensed by different regulators. For example, eToro (Europe) is licensed by the Cypriot regulator CySEC (109/10) and eToro (UK) is licensed by the British regulator FCA (583263). The broker also has a representative office in Australia and the USA. eToro Profile Details

Pros/Cons

•the minimum transaction amount for copying is $1;

•handy functionality for passive investing;

•regulated by independent monitors;

•it is possible to purchase contracts for fractional shares (that is, to invest amounts less than the cost of one share);

•it is possible to buy shares at once (not CFDs) on the US stock exchanges.

•high spreads;

•periodic technical failures in order execution;

•lack of the most popular platforms such as MetaTrader 4 and MetaTrader 5 in Europe and the CIS;

•no access to ECN systems, orders are processed only according to the STP (straight-through processing) scheme with access to specific liquidity providers;

•there is a commission for withdrawing funds;

•impolite support staff;

•inconvenient website.

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2

9.2/10

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Minimum deposit:

$1000

Bonus for deposit:

0%

Regulation:

CIMA, FCA, FSA (Japan), NFA, IIROC, ASIC, CFTC

Review

Forex.com is a company owned by GAIN Capital Holdings, Inc. (NYSE: GCAP) and has earned a reputation as a reliable broker in the trading industry for its transparent work and high quality of services. The company cooperates with clients in 140 countries. The broker is registered in the Cayman Islands and supervised by CIMA (Certified Institute for Management Accountants). The license number is 25033. The parent company of the Forex.com broker is registered in England and Wales under the number 1761813 at the UK Companies House. It is licensed by one of the most reputable regulators in the world, FCA (No. 113942).

Pros/Cons

•average rate of order execution is 0.04 ms;

•reliability is controlled by several regulators so customer funds are kept on separate accounts from the company's assets;

•attractive trading conditions are tight spreads on over 90 assets, including currency pairs and metals, and over 4,500 markets, including FX, indices, commodities, stocks, and cryptocurrencies.

•poor quality of site optimization, little specifics in the descriptions of services, tabs at the top of the page do not work. To find the information you have to use a tab called "Sitemap";

•it is difficult to contact the support service due to its high workload;

•large fixed commission for withdrawing funds;

•high initial deposit, it starts from $1,000;

•there are few options for depositing and withdrawing funds, the terms rarely correspond to those stated.

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3

9.1/10

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Minimum deposit:

$1

Bonus for deposit:

0%

Regulation:

FINRA, SIPC, CFTC, NFA

Review

TD Ameritrade’s Thinkorswim broker is a result of the unification of Thinkorswim and TD Ameritrade, the developers of the best platform for stock trading in the US. Its main focus is trading securities, the OTC securities market, spot instruments, and retail foreign exchange trading in the US. The company was nominated for: "Best Platforms and Tools", "Best Application for Traders", for being among the Top 5 in the ratings, "Best Innovative Developments", and "Best Broker for Options Trading". Since 2009, the company’s reliability has been confirmed by the licenses from two of the most stringent regulators in the world, FINRA (CRD#: 7870/SEC#: 801-60469,8-23395), and SIPC.

Pros/Cons

•Access to stock exchange markets with hundreds of instruments, including indices. Derivatives trading, entry into the OTC market, legal services of currency trading in Forex.

•One of the most functional platforms in the world for trading securities with multi-level complex chart analyses.

•Two of the world's best regulators license it.

•Optimal trading conditions for individual assets.

•Segregated accounts.

•The broker works only with traders from the USA.

•The platform is difficult for novice traders.

•There is no membership in the FDIC (Federal Deposit Insurance Corporation, which would ensure traders' money up to $250 thousand).

•A limited number of deposit/withdrawal options.

•High entry threshold.

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4

8.9/10

Go to broker

Your capital is at risk.

Minimum deposit:

$10

Bonus for deposit:

60%

Regulation:

FSC

Review

RoboForex is a well-established brokerage company offering a broad spectrum of trading opportunities for active traders and investors alike. With an impressive selection of over 12,000 financial instruments - including currency pairs, CFDs on stocks, indices, metals, energies, and futures - RoboForex provides a versatile trading environment.
The broker boasts competitive trading conditions: tight spreads starting from 0 pips, high leverage up to 1:2000, and fast execution speeds. The broker also offers the CopyFx investment program, which allows traders to copy the strategies of successful investors and earn passive income. Additional perks include instant fund withdrawals and some of the industry’s highest affiliate payments (up to 84%).
RoboForex prioritizes reliability and client satisfaction, establishing itself as a trusted partner for traders worldwide.

Pros/Cons

•Availability of favorable trading conditions and a minimum deposit

•Unique investment program CopyFx

•Highest affiliate payments: up to 84% of the fee paid by the referral

•Market launch - STP and ECN

•Instant withdrawal of funds

•Minimum deposit - $10

•A small number of currency pairs - 36, for accounts: Pro, Pro-Cent, ECN, Prime

•Lack of tools when trading on the R StocksTrader platform

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5

8.7/10

Go to broker

Your capital is at risk.
You can lose your money.

Minimum deposit:

$10

Bonus for deposit:

0%

Regulation:

FCA, CySEC, FSA (Seychelles), FSCA, BVI FSC, FSC (Mauritius), CBCS, and CMA

Review

Exness is one of the world’s largest brokers, known for its competitive trading conditions, high security, and wide selection of assets. The company serves over 700,000 active clients and processes a monthly volume exceeding $4 trillion.
While specializing in currency pairs, Exness also offers CFDs on stocks, commodities, indices, and cryptocurrencies. The broker caters to all experience levels with various account types – from cent accounts and social trading for beginners to high leverage and Expert Advisor support for seasoned professionals.
Exness holds multiple international licenses, including the stringent FCA and CySEC, ensuring trader funds are protected.
With features like 24/7 support, fast withdrawals, and analytics tools, Exness strives to provide an optimal trading experience.

Pros/Cons

•Availability of 8 licenses and a membership in the Financial Commission with its own compensation fund to insure traders against losses;

•Wide choice of account types — Standard, Pro, Cent, Swap Free, and Demo;

•Wide range of CFDs, including over 100 currency pairs;

•Zero deposit and withdrawal fees;

•Proprietary platforms for active and social trading, as well as all versions of classic MT4 and MT5.

•The broker’s website offers almost no educational materials;

•24/7 support isn’t available in all languages.

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6

8.6/10

Go to broker

Your capital is at risk.

Minimum deposit:

$100

Bonus for deposit:

0%

Regulation:

ASIC, SCB, CySEC, FCA

Review

Eightcap is a leading Forex and CFD broker, offering over 800 trading instruments, including currency pairs, cryptocurrencies, indices, stocks, and commodities. With tight spreads starting from 0 pips, leverage up to 1:500, and no withdrawal fees, Eightcap provides a competitive trading environment. The broker is regulated by top-tier authorities such as ASIC and FCA, ensuring a secure trading experience.
Comprehensive educational resources, advanced analytics, and innovative functionality such as code-free automated trading through Capitalise.ai and enhanced order execution with FlashTrader distinguish the platform from others.
Though Eightcap does not offer passive income opportunities or joint accounts, it is a popular choice for those seeking a reliable and feature-rich broker.

Pros/Cons

•The broker is registered in the Bahamas and Seychelles, and is regulated by the Securities Commission of the Bahamas (SCB, SIA-F220), ASIC (391441), FCA (921296), CySEC (246/14). Also, it partners with many proprietary firms;

•Traders need to deposit only $100 to open a live account, and the broker imposes few trading limits on its clients;

•Hundreds of the most popular CFDs are available, and the pool is constantly expanding;

•Eightcap provides one of the most profitable trading costs with really tight spreads;

•Almost all options for depositing/withdrawing funds are available and the broker does not charge a withdrawal fee;

•The broker’s clients can work through any of the three top trading platforms, including mobile versions of the MetaTrader solutions;

•The company provides high-quality training, extensive analytics, and its own developments for automated trading.

•No joint accounts, copy trading, referral program, or other options for passive income;

•Eightcap has some regional restrictions. For example, some services are not available in Australia;

•The broker's technical support is efficient and competent, but it is not available on weekends.

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Useful Forex Facts & Insights

Top 3 Brokers With TradingView Support

TradingView is a well-known trading platform that supports advanced charting tools. Traders Union has compiled a list of the top 3 brokers that offer trading directly from TradingView charts. This trading platform can help you expand your arsenal for analysis and decision-making in trading.

How to choose the best gold trading platform?

Most forex brokers offer trading through MT4 and MT5 terminals, which are well-suited for CFD trading on gold in the form of trading pairs XAUUSD or XAUEUR. The strengths of these platforms include:

• Customization for margin trading: These platforms are well-suited for margin trading, which is essential for gold CFD trading.

• Support for forex advisors: MT4 and MT5 support trading with forex advisors, also known as Expert Advisors (EAs). These automated trading programs can be used to execute trades based on predefined criteria.

• Numerous built-in technical analysis tools: The platforms come with a variety of built-in technical analysis tools that can be used to identify trading opportunities.

However, the suitability of a platform will also depend on your broker. For example, not all brokers support scalping.

Large brokers like Saxo Bank (SaxoTraderGO) and Interactive Brokers (TWS) offer their own trading platforms for gold. These platforms boast advanced features like extensive charting and technical indicators, but cater to experienced traders due to their complexity. They often lack beginner-friendly features like social trading and cent accounts.

What are tipical gold trading costs?

Forex brokers mainly charge a commission in the form of a spread. Here's a quick rundown of gold trading fees:

• Spreads. The main cost, difference between buy/sell price quoted by your broker. Tighter spreads = better. TU experts consider 40 pips spread and less as the low.

• Swaps. Overnight holding fees reflecting interest rate differences (can be positive or negative).

• Commissions. Less common, some brokers charge a flat fee per trade.

• ETF Fees. If trading gold via ETFs, you'll likely pay an annual expense ratio that is usually 0.5%-1.5%.

Please research individual forex brokers' websites for their specific fee structures and current rates on spreads, swaps, and any potential ETF fees.

What is the minimumd deposit to start trading gold?

CFD trading allows gold trading with leverage up to 1:30, meaning you can control a larger gold position with a smaller deposit (tipically as low as $50-$100).

Buying physical gold ETFs or shares. These typically require a full purchase of the ETF/share, which can be more expensive than CFD trading. In this case you typically will need $200-$500 initial investment.

Here are some additional points to consider:

• The minimum trade size might be equivalent to a specific amount of gold (e.g., 0.1 oz). This translates to a minimum cost required per trade.

• While leverage allows for potentially larger profits, it also magnifies potential losses. Be cautious when using high leverage with a small deposit.

Most popular markets to invest in gold

What are the most popular option to invest in gold?

A reasonable choice of "gold" assets can be not only a source of profit, but also an additional insurance against possible losses. Each type of market is characterized by benefits and deficiency. Here's a quick summary of the most popular gold investment assets:

• CFDs on gold: Popular for speculation, lower minimum investment amount (usually from $100), high liquidity, leverage up to 1:30, but limited assets and dynamic spread.

• Gold futures: Fixed price contracts for future purchase, good for hedging, but not ideal for long-term and have limited speculative periods.

• ETFs: Stable, low-cost option for long-term exposure, but limited investment choices and management fees.

• Stocks: Potential for quick profit and dividends, diversifies portfolio, but volatile and carries company risk.

• Spot Gold: Physical gold ownership, fast liquidity, good for long-term and hedging, but requires storage and immediate tax payment in some jurisdictions.

TU hase compared the pros and cons of popular gold trading assets:

Is gold trading profitable?

Yes, investing in gold assets is very profitable. From 2000 to 2024, the market price of gold rose from $280-290 to $2030, i.e. 7 times - that's almost 30% per annum, and in the most stable market asset. And the upward trend continues - look at our gold price forecast 2050.

You can invest in gold from $100 (less is quite dangerous). You need a reliable broker with comfortable trading conditions and a strategy with strict risk control. Gold lends itself well to technical analysis, almost does not depend on the economy of specific countries or regions, and the fundamental impact on it is made by standard factors: interest rates, inflation, GDP, monetary policy of the dollar, etc.

If you are ready for active risk - trade gold CFDs and futures, if you prefer long deals - invest in ETFs and stocks, and the volatility of gold and its ability to keep the trend will provide a stable profit even for disciplined beginners.

Pros and cons of gold trading

Let's briefly summarize the main arguments for trading gold:

Methodology for compiling our ratings

Traders Union applies a rigorous methodology to evaluate brokers using over 100 both quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.

Key aspects of the assessment include:

• Regulation and safety. Brokers are evaluated based on the level/reputation of licenses and regulations they operate under

• User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified

• Trading instruments. Brokers are evaluated on the breadth and depth of assets/markets available to trade

• Fees and commissions. A comprehensive analysis is done of all trading costs to analyze overall cost to clients

• Trading platforms. Brokers are assessed based on the variety, quality and features of platforms offered to clients

• Other factors like brand popularity, customer support, education resources are also evaluated