8 Best Futures Trading Platforms and Brokers 2024
For new and vetted traders alike, futures trading could be a lucrative trading tool to add to one’s portfolio. Essentially, a futures contract is a type of agreement to purchase or sell a certain security or commodity at a “future” date, hence the name. In this guide, we have prepared a list of the best futures trading platforms and futures brokers to work with for 2024. These futures trading platforms are providing the best conditions for trading futures as well as options and stocks. Let’s take a look at our top picks for future brokers and futures trading platforms!
Start trading futures right now with Admiral Markets!Top 8 Platforms for Futures Trading 2024
We chose the best platforms and brokers for futures trading based on a number of different factors, but each of these platforms is excellent for beginners and seasoned traders who want to enter the futures market.
| Broker | Trading Platform | Minimum Deposit | Commission | |
|---|---|---|---|---|
MetaTrader 4, MetaTrader 5, FBS Trader |
€10 |
From 1 pip |
|
|
Mobile apps (iOS, Android) |
$100 |
From 2 pips |
|
|
MetaTrader 4, MetaTrader 5, cTrader, FxPro Edge |
100 (USD, EUR, GBP, CHF) |
from 0.0 pips |
|
|
МТ4, МТ5, mobile trading, and WebTrader by InstaForex |
FSC - $1. CySEC - €200/€1 |
FSC - from 0-0.3 pips subject to the account type. CySEC - from 0 pips subject to the asset type. |
|
|
МТ4, MT5, MetaTrader Supreme Edition, WebTrader |
$1 — $100, $250 |
From 0-0.5 pips. |
|
|
MetaTrader 4 |
$100 |
Floating or fixed, from 0 pips |
|
|
cTrader, TradingView, MetaTrader 4 and MetaTrader 5 |
$1 |
from 0.0 pips |
|
|
SaxoTraderGO, SaxoTraderPRO |
$0 |
From 0.7 pips |
|
FBS – Best Futures Trading Platform and Broker
FBS (fbs.com) is an international broker operating in 190 countries. The brokerage company has been on the market for over 10 years, and during this time it has earned about 40 international awards. It is regulated by the CySEC under license number 331/17 and provides flexible conditions for Forex trading. In addition to classic currency pairs, the company's clients can trade indices, futures contracts, exotic currencies, and metals. FBS is especially popular in Asian countries such as India, Malaysia and Indonesia.
👍 Pros
• negative balance protection;
• a large selection of trading instruments;
• the support service works 24/7.
👎 Cons
• no cryptocurrency;
• auto copying is not available;
• no PAMM accounts;
• not suitable for short-term trading, such as scalping;
• the support service works in a limited number of languages;
• only two real accounts.
eToro – Best Futures Trading Platform and Broker
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.
👍 Pros
• High level of reliability ensured by the licenses of respected regulatory authorities and participation in the compensation funds.
• Wide selection of assets quoted at stock exchanges in the UK, U.S., Australia and Asia.
• An opportunity to combine active trading with social trading and passive investing.
• Zero-fee trading of a number of stocks.
• Access to ready-made diversified asset portfolios with various risk levels.
• Provision of leverage, educational materials on various markets and user-friendly trading platforms that can run on any device.
• Zero fees for portfolio management, depositing funds and account maintenance.
👎 Cons
• High minimum deposit for users of a number of countries.
• No live chat on the website for quick connection to customer support.
FxPro – Best Futures Trading Platform and Broker
The FxPro broker was registered in July 2006 in Cyprus. The company’s activities are licensed by financial regulators: CySEC, 078/07 (Cyprus), Bahamas SCB (SIA-F184), FCA, 509956 (UK), and South African FSCA (45052). FxPro is successfully operating in more than 170 countries for retail and institutional clients. The broker has received more than 85 awards, including “Best Forex Trading Platform” and “Best Trading Platform”. FxPro has become known for providing the best trading tools. With FxPro broker, traders can trade more than 70 currency pairs, futures and stocks (Twitter, Apple, Google). The broker has over 2,100 trading assets in its pool, including cryptocurrencies, which are subject to the account type. The basic set of assets is available on cTrader accounts, the full set is available on accounts opened on MT4 and MT5. FxPro sets high safety standards with the client's funds being kept in large international banks. They are insured and separated from the broker's equity.
👍 Pros
• Negative Balance Protection of a client on a real account is a unique broker service. It has an automated transaction monitoring and a risk management system, the capital is guaranteed not to go into a negative balance;
• insurance of client funds at the expense of the broker participation in an investor compensation fund;
• beginner traders will be able to access tested advisors;
• a full package of services is available to the client regardless of the balance of his account;
• VIP account holders are offered a personal manager and get a Free VPS;
• company capital exceeds 100 million euros;
• offers swap-free accounts for customers whose religious beliefs do not permit swapping eg. Islamic traders;
• the reliable trading environment provided by the competent educational and research department.
👎 Cons
• it is not the best choice for beginner traders who are looking for their first broker as the minimum deposit of $100 is considered high;
• difficulties registering in an affiliate program.
InstaForex – Best Futures Trading Platform and Broker
InstaForex has been in the international financial market since 2007. Over the years of its operation, the company has attracted more than 7,000,000 traders from over 140 countries. The broker has 2,500+ trading instruments, including cryptocurrencies, synthetic indices, etc. The company strives to develop its competitive advantages by offering traders and investors new technological solutions and analytical tools every day.
The InstaForex group of companies comprises:
-
Instant Trading Ltd., regulated by BVI FSC (British Virgin Islands, SIBA/L/14/1082).
-
Instant Trading EU Ltd., regulated by CySEC (Cyprus, 266/15).
InstaForex is also regulated by BaFin (Germany), AFM (Netherlands), MFSA (Malta), and regulators of Greece, UK, Czech Republic, etc.
👍 Pros
• 2,500+ trading instruments, including non-standard assets, such as InstaFutures and synthetic securities.
• Passive investment products, including PAMM accounts and a copy trading service.
• Non-standard technological solutions such as InstaSpot (P2P spot trading), OYS account, Stock Basket, etc.
• European regulation and IFC compensation fund with guaranteed insurance coverage up to €20,000.
• Comfortable trading conditions, such as a $1 minimum deposit and leverage up to 1:1000, for clients of the FSC-regulated broker.
👎 Cons
• Tough conditions for retail European traders due to regulations.
• The time gap between a trade executed by a trader and the one copied to the investor’s account in the social trading service can be up to 15 seconds.
Admirals – Best Futures Trading Platform and Broker
Admirals was founded in 2001. In more than 20 years of operation, a regional Estonian broker has grown into an international financial group of companies providing access to over-the-counter markets in more than 130 countries, as well as to exchange-traded stock instruments. Following the 2021 rebranding, Admirals became Admirals. The updated platform received new integrated risk management solutions.
The Admirals group of companies comprises:
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Admirals AU Pty Ltd.
-
Admirals UK Ltd.
-
Admirals Cyprus Ltd.
-
Admirals AS Jordan Ltd.
Regulators of the Admirals group of companies include FCA (UK, 595450), CySEC (Cyprus, 201/13), ASIC (Australia, 410681), JSC (Jordan, 57026), and CIPC (South Africa, 2019 / 620981 / 07).
👍 Pros
• 5,000+ trading assets, with stock assets trading on exchange markets available.
• The company’s proprietary social trading platform (copy trading).
• Relatively tight spreads on most assets.
• The company’s own Supreme Edition plug-in for MT4 and MT5, which expands their technical and chart functionality.
• FCA and CySec licenses, which are the most reputable regulators.
• Compensation fund with insurance coverage of up to €20,000 per trader.
• Relatively low initial deposit that provides for opening trades within risk management subject to leverage.
👎 Cons
• Restrictions on leverage for retail traders without the “professional” status as required by regulators.
• Withdrawal fee is charged.
IronFX – Best Futures Trading Platform and Broker
IronFX was launched in January 2010 by a team of specialists in finance and software development. Today, IronFX has grown to be among the industry leaders that provide online trading services globally. Customers can use the MT4 advanced trading platforms and trade more than 300 tools from 6 various asset classes. IronFX serves individual as well as corporate clients from over 180 countries. IronFX is highly valued for providing cutting-edge technological innovation on trading platforms and trading tools.
👍 Pros
• round-the-clock communication with a multilingual support TEAM on weekdays;
• wide range of trading assets;
👎 Cons
• the verification procedure can be repeated;
Pepperstone – Best Futures Trading Platform and Broker
Pepperstone (Pepperstone.com) was founded in 2010 in Melbourne, Australia,
by professional traders who were not satisfied with the quality of services provided by most brokers. The founders
decided to avoid many of the disadvantages of competitors, including high commissions, delayed execution of orders,
etc. The founders therefore focused on improving the technical component. The company has set itself the goal of
changing the “rules of the game” and setting the bar high for online trading.
Today, Pepperstone offers clients all over the world some of the best technological solutions and favorable trading
conditions. The company also provides professional tools that help traders not only master the fine art of trading,
but also significantly increase trading efficiencies. In addition, Pepperstone’s platform is scrutinized by seven
regulatory authorities, including ASIC (Australian Securities and
Investments Commission, AFSL No.414530), FCA (UK Financial
Conduct Authority, 684312), DFSA
(F004356), BaFin (151148), CMA (128), SCB
(SIA-F217), and CySec (388/20). Moreover,
with Pepperstone, clients' assets are maintained in aggregated accounts with several major, global banking
institutions. These facts confirm the reliability of the company and guarantee the safety of the client's capital.
👍 Pros
• Attractive trading conditions;
• Fast order execution - 30 ms on average;
• 1,200+ trading instruments;
• Low fees; and
• No inactivity fee.
👎 Cons
• Support service works only 24/5;
• No cent account;
• Not available to US clients;
• Limited passive trading opportunities;
• Limited analytical materials available on the site. The only way to resolve this issue is to connect to trading signals;
• No news section; and
• Demo accounts can only trade for free for one month only.
Saxo Bank – Best Futures Trading Platform and Broker
The SaxoBank brokerage company was founded in 1992 under the original name Midas. In 2001, the broker was licensed by the FSA, a Danish Financial Supervisory Authority (1149). After that, the company changed its name to SaxoBank. Today the broker provides online access to various financial markets to clients from 170 countries. In 2017, the SaxoTraderGO terminal was recognized as the best trading platform for active trading according to FX Week’s e-FX Awards and ADVFN International Financial Awards. Can you trade options with Saxo Bank?
👍 Pros
• favorable trading terms for professional traders with at least 1 year of experience;
• over 71 thousand instruments for trading;
• the opportunity to invest in ready-to-use long-term portfolios managed by professionals.
👎 Cons
• Cent accounts are not available.
• You can trade through proprietary platforms; access to the MT4 and MT5 terminals is not provided;
• a ban on algorithmic trading for traders from abroad;
• you cannot contact support in the online chat on the company's website.
What are Futures?
Futures are a type of financial contract in which traders will transact a particular asset at a certain future price and date. A futures trader will need to buy or sell the asset underlying the future at a set price, no matter what the market price of the asset is by the time it reaches its expiration date.
The underlying assets of futures contracts are usually physical commodities. The contracts that hold a future will note the total quantity of the asset and must be used to trade in the futures exchange. Typically, futures are used for the purpose of hedging, or offsetting investment costs. A futures contract makes it possible for investors to speculate how a particular commodity will change in price and value.
Different Types of Futures
There are many different types of futures.
FX or Forex futures are currency derivative contracts that ensure that the purchaser and seller to make a trade at a specific price at a specific time. Like most futures contracts, they are designed to hedge in order to reduce risk against inflation. Such futures are based on foreign exchange currency rather than physical commodities.
Commodity futures are futures that contain underlying assets that are tangible and physically bought and sold. The most common types of commodities for futures contracts include crops, gas, oil, gold, silver and other assets.
Interest rate futures are futures that hedge against risks that occur due to the movements and fluctuations in the interest rate of a particular financial instrument. Because unpredictable interest rates can create burdens on companies that produce certain assets, these types of futures can help reduce that burden.
Stock index futures are used by investors to hedge against risk by using a single stock. Essentially, stock index futures are designed to hedge against the potential future price of a stock.
CFDs are technically not futures, but an alternative to trading futures. CFDs are leveraged financial derivatives that allow traders to speculate on the price changes in a specific market without the need to take complete ownership. Essentially, a trader will purchase an underlying market if they think the price will increase, or sell the underlying market if they think the price will dip. The total profits or losses will be determined based on the total position size times the difference between open and close costs of the position itself.
Should I Trade Futures?
In general, we would recommend trading futures. They are a great trading instrument for hedging and reducing risk. If you’re already involved in a trading instrument that is particularly risky and involves a lot of speculation, then futures can offset some potential costs. Futures are very highly leveraged investments, are very liquid, and have low commission and execution costs. Just as well, futures can generate profit quickly and are excellent for diversifying a portfolio and hedging risk. They are also a lot more efficient and could be considered fairer than single stocks.
However, no form of trading is totally perfect. Futures involve risks and investors can lose their initial margin if the price of an asset swings the wrong way. Investors can also experience some disadvantages due to using margin, which can result in major losses. Still, futures trading is still a great thing to engage in, especially if you are doing so to diversify your portfolio.
How to Start Futures Trading?
Futures trading is very easy. Simply follow these steps to get started.
We used TD Ameritrade as an example broker, but the following steps basically apply to any type of futures trading platform or broker:
-
1
Set up your account. Most brokers will require a standard account to trade futures, as well as an extensive identity verification process that can take several days. You’ll need proof of identification and a camera to proceed.
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2
Consider your trading strategy. Before you get started, you should go into trading futures with a solid strategy. You can also use TD Ameritrade’s Thinkorswim demo account to experiment with different strategies without risking any capital.
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3
Do your research. Study the market, your commodity of choice, and everything that has to do with futures. We recommend studying some blog posts on Traders Union, different videos and tutorials from futures experts, and tutorials offered by your broker of choice.
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4
Fund your account. When starting out, we recommend only risking about $500 or so on futures.
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5
On your platform of choice, simply search for the asset you’d like to trade and conduct a buy or sell. You’ll need to choose your asset, funding source, expiration date, and other necessary information.
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6
You’re done!
Summary
Futures trading can be a very lucrative market to get into. Originally, futures were invented to help commodity producers, such as farmers, invest in their industry or asset of choice to offset potential interest rate losses. Essentially, a futures contract is a type of agreement to purchase or sell a certain security or commodity at a “future” date, hence the name.
There are many different types of futures. A few include forex futures, commodity futures, interest rate futures, stock index futures, and CFDs. We would recommend trading futures if you want to diversify an already-established portfolio, as futures can offset a lot of potential losses. Still, no form of trading is perfect. Futures can have their own risks, especially when it comes to using margin. Still, futures are a great way to diversify your portfolio.
FAQs
What are the trading hours for futures?
On virtual platforms and in general, futures markets are open twenty-four hours per day, six days a week. However, different commodities have different trading hours. For example: The stock index, metals, and energy futures market are open from 6pm to 5pm ET, while the agriculture futures market is open from 9:15am to 2:30pm ET.
Are there certain requirements in order to be approved for futures trading?
Yes. On most broker platforms, you will need margin approval, an account minimum for a margin account, and a minimum net liquidation value. Keep in mind that these requirements will vary based on your trading platform of choice, and not every potential client will qualify for futures trading.
What is a tick size?
In the context of futures, a tick is considered the minimum price increment for a certain contract that can fluctuate. The value and size of a tick will vary significantly from futures contract to futures contract.
Is it expensive to trade futures?
The expenses involved in trading futures depend on your trading style. Most brokers will usually charge a fee for each contract, which will be a few dollars in most cases. If you are opening and closing a lot of contracts, this cost can add up. You might also have to worry about exchange and regulatory fees, which will vary by product and asset.
Glossary for novice traders
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1
Broker
A broker is a legal entity or individual that performs as an intermediary when making trades in the financial markets. Private investors cannot trade without a broker, since only brokers can execute trades on the exchanges.
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2
Trading
Trading involves the act of buying and selling financial assets like stocks, currencies, or commodities with the intention of profiting from market price fluctuations. Traders employ various strategies, analysis techniques, and risk management practices to make informed decisions and optimize their chances of success in the financial markets.
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3
Futures contract
A futures contract is a standardized financial agreement between two parties to buy or sell an underlying asset, such as a commodity, currency, or financial instrument, at a predetermined price on a specified future date. Futures contracts are commonly used in financial markets to hedge against price fluctuations, speculate on future price movements, or gain exposure to various assets.
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4
Investor
An investor is an individual, who invests money in an asset with the expectation that its value would appreciate in the future. The asset can be anything, including a bond, debenture, mutual fund, equity, gold, silver, exchange-traded funds (ETFs), and real-estate property.
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5
Leverage
Forex leverage is a tool enabling traders to control larger positions with a relatively small amount of capital, amplifying potential profits and losses based on the chosen leverage ratio.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.