Best Brokers For Gold Trading

Comparison of the best Gold Brokers

Traders Union team offers traders professional support in finding the best broker for gold trading Forex. Analysts have studied actual broker offers and, in addition to the main criteria such as security, reputation and quality of services, have also evaluated trading conditions and platforms for gold deals.

So, where and how to buy gold?

Everything written below is not an advertisement or trading recommendation. Result of each trader depends only on an effective strategy, conscious market behavior and correct risk assessment.

Best gold trading brokers reviews

Detailed information about each broker is offered to read in the appropriate review. It should be noted only that all brokers from this rating have the necessary licenses and certificates, and also allow short sales on gold exchange-traded assets.

Roboforex: optimal Gold CFD brokers

RoboForex Review

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RoboForex offers XAU/USD and XAU/EUR in standard MetaTrader 4 (5) and in R StocksTrader. Spot gold is available in all types of trading accounts, including Cent-accounts. Minimum lot is 100 oz, price step is 0.01, minimum trade volume is 0.1 lot. Spread is floating, in abnormal market conditions can short-term widen by 20-30%. Commission $24 on swap-free accounts (per 1 lot). More than 20 stocks and 3 ETFs involving gold are available on the R StocksTrader platform, commissions $10-15 per $1 million of trading volume. Copy Trading service for all gold assets is available without restrictions.

Trading Software: MetaTrader 4(5), R StocksTrader

Exness: The best for beginners

Exness Review

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You can lose your money.

The spread on spot gold depends on the type of trading account and conversion currency. For example, for XAU/USD the spread on Zero account is 0 pps, on Standard account - 20 pps, on Raw Spread account - 6.2 pps. Commissions are charged on Zero and Raw Spread accounts from $3.5 to $24 per $1 million of trading volume. Spot gold is available in swap-free accounts. No ETF assets are offered, and there are no copy trading services. Gold is traded on all trading platforms offered.

Trading Software: MetaTrader 4(5), Exness Terminal

IC Markets: The excellent leverage and zero spread

IC Markets Review

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Up to 75.93% of the broker’s non-professional clients incur losses when trading CFDs.

Minimum lot 100 oz, price step 0.01. The spread on spot gold is dynamic, depending on the currency of the asset. The minimum and the most stable spread is guaranteed on the most liquid asset XAU/USD, the highest - on XAU/JPY. For Raw Spread accounts the spread is zero. Commission $3.5/1 lot ($7 per round turn) for Raw Spread on MetaTrader 5, $3.0/1 lot ($6 per round turn) for Raw Spread on cTrader platform. No ETF assets. Gold trading is available on all platforms. Gold deals are available on copy-trading services and trading signal provider.

Trading Software: MetaTrader 4(5), cTrader

FxPro: Gold in grams and futures

FxPro Review

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The broker offers spot gold not only in currency, but also in weight units. Quotes in grams and ounces arrive in the terminal synchronously with the price in currency. For assets with currency the size of 1 lot is 100 Oz, the minimum transaction volume is 1 Oz, price step is 0.01. For GOLDgr the size of 1 lot is 1 gr, the minimum deal is 5 gr. For GOLDoz 1 lot size and minimum transaction - 1 oz. Spreads/commissions depend on the trading platform. There are standard quarterly gold futures contracts with expiration dates synchronized with NYSE. Gold ETFs are not offered. FxPRO utilizes dynamic leverage. Margin requirements are tightened for non-standard market liquidity.

Trading Software: MetaTrader 4(5)

Tickmill: The Best Broker for ETFs

Tickmill Review

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Gold is offered in the form of standard spot assets with USD and EUR, spreads are minimal, but there is a commission on trading volume. The amount of commission depends on the type of trading account. Leverage on gold for Tickmill EU - spot 1:300, stocks and ETFs 1:20, for Tickmill US - spot 1:30, stocks and ETFs 1:500. In addition to CFDs on shares of industry companies, 4 exchange traded funds with gold assets are traded on the MetaTrader5 platform, including the famous SPDR Gold Trust ETF (GLD) and VanEck Vectors Gold Miners ETF (GDX). Stocks and ETFs are not yet available for Tickmill Asia - keep an eye on the broker's website for updates.

Trading Software: MetaTrader 4(5)

AAFX: Minimum spread

AAFX Review

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One standard spot asset with dollar is offered. Lot size is 100 oz, minimum deal is 0.01 lot. Spreads are minimal, there are no commissions. There is a trading account with a fixed spread. Leverage is dynamic, in non-standard market conditions it can increase up to 1:100. Shares of industry companies are traded without commissions. There are no exchange ETFs and copy-trading service for gold.

Trading Software: MetaTrader 4(5)

InstaForex: The optimal copy trading

InstaForex Review

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Spot assets differ only in lot size: GOLD - 100 Oz, XAU/USD - 500 Oz. The minimum deal is 0.01 lot. There is a trading account Insta.Eurica with zero spread and 0.05% commission on spot gold. On other accounts there are no commissions for spot gold trading volume. In non-standard market conditions, spread widening up to 10 pps is allowed. There are no exchange traded ETFs. Gold trades are available for copy-trading and are offered in the trading signals service.

Trading Software: MetaTrader 4(5)

Admirals: Gold in any currency

Admirals Review

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Gold is available in the form of normal CFDs, company shares and exchange traded ETFs. For spot assets, either a spread (quite low) or a commission is always paid. In the contract specification all values are specified for one side of the transaction. CFD Gold commissions on Zero.MT4 and Zero.MT5 depend on the volume of closed trades per month - active traders pay less. The trading platform is the standard MetaTrader 4(5). High minimum deposit and margin requirements, exchange leverage on all types of assets. Spot-gold trading signals are available for copy trading.

Trading Software: MetaTrader 4(5)

XM Group: Comfortable deposit and spread

XM Group Review

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77.74% of retail investor accounts lose money when trading CFDs with this provider.

Gold is present only in the form of a standard spot asset, no other assets involving gold are offered. Standard lot size is 100 oz, for XM Ultra Low Micro accounts - 1 Oz. The price step is 0.01 lots. There is a penalty for inactivity. High leverage and margin requirements. Spot gold trades are available for copying.

Trading Software: MetaTrader 4(5), MetaMultiterminal

AvaTrade: A сlient-oriented broker

AvaTrade Review

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71% of retail investor accounts lose money when trading CFDs with this provider.

There are no gold stocks and ETFs, only one spot asset. Stock exchange spreads. Trading platforms MetaTrader 4(5), Mirror Trader, AvaTrader, but gold terms are the same. Lot size is 100 Oz. Leverage is dynamic, in case of unstable market liquidity it can be increased to 1:5 and 1:400 in short term.

Trading Software: MetaTrader 4(5), AvaTradeGO, AvaSocial, AvaOptions

eToro: trading signals and fractional lots

eToro Review

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eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

The level of eToro minimum deposit depends on the trader's jurisdiction, for example, for US residents - $10, EU - $50, Israel - $10000, other countries - $200. Leverage on eToro depends not only on the type of asset but also on the regulator's license: for CySEC or FCA leverage on ETFs is -1:5, gold is -1:20. The eToro branch with a license from the Seychelles regulator offers leverage of 1:10 for ETFs and 1:30 for gold. Investing in equities is available in fractional lots. Full information on deals is available in the copy-trading service, and eToro's gold signals telegram are considered the best ones.

Trading Software: MetaTrader 4(5), CopyTrader

Forex4you: The optimal for Stock trading

Forex4you Review

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Spreads are fixed for cent accounts. On the Classic Pro account, in addition to the spread, a commission of $8 per lot is charged. Leverage depends on the deposit level, for gold - no more than 1:200. The broker has the right to change leverage up to 1:25. All trades are available in Share4You copy trading service.

Trading Software: MetaTrader 4(5), Forex4you WebTrader

How to choose the best gold trading platform

We have summarized in a comparison table all the software offered by the brokers in this review. You can choose the most convenient platform for trading gold. A convenient and reliable trading terminal is an important criterion when choosing a broker.

Sometimes a trader gets too carried away with the technical features of trading platforms, builds complex schemes, and as a result loses both time and a profitable signal. For example, for long-term deals, the intuitive MetaTrader 4 is enough, but for an active intraday trader it will be more reliable to use cTrader. It is important to find a balance between the functionality of reliable software from a proven broker and comfortable trading.

How to choose the best gold trading brokers

Before you trade gold, you need to solve the main task - to choose the right broker. You need to evaluate the following criteria - let's arrange them by degree of importance for a trader:

• Regulation and licenses

In addition to the mandatory licenses of international regulators, a broker must have special certificates for operations with commodity assets. The most reputable are the British stock exchange license (FCA), Australian stock exchange license (ASIC), as well as permits from the American CFTC and NFA. Brokers registered in European countries must comply with the requirements of the EU directives on markets in financial instruments (MiFID and MiFIR).

• Assortment of "golden" assets

Deals with different types of assets on one trading platform add reliability for the broker and profit and hedging opportunities for clients.

• Minimum Deposit

The initial deposit at the level of $1-10 gives a chance to beginners to try trading with gold. A positive argument for choosing a broker can be considered the possibility of forming a deposit in different currencies. The deposit should be sufficient not only for a single entry into the market with a minimum lot, but also for maintaining an operating margin.

• Spreads, commissions, exchange fees

Spreads on gold are usually higher than on currency assets, but some brokers offer minimal or even zero spreads. It is necessary to study the schemes of exchange or other (often hidden!) commissions and payments - no broker will work for free.

• Leverage

High leverage (1:500 and above) is too dangerous for gold deals, while leverage at the exchange level (1:5 - 1:20) requires serious capital. An efficient broker usually offers several leverage options - for clients with any level of deposit and trading experience.

• Trading platform and technical support

The broker's trading software should be comprehensive, up-to-date, adapted to different operating systems and technical conditions. All variants of trading programs should ensure the fastest and most correct processing of transactions. Today every self-respecting broker offers its clients its own (and not only!) market analytics, reference materials, training services, as well as professional technical support, usually multi-lingual.

• Investment protection

The broker's participation in international investment protection schemes, such as insurance from SIPC or The Financial Commission, as well as the presence of its own guarantee programs or compensation funds is a serious argument for choosing such a trading platform.

Most popular markets 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.

CFDs on gold

A contract for difference that allows you to speculate in gold, without owning the physical metal. The most popular asset with most brokers. Usually repeats quotes of similar futures with a small backlash of 1-2 points.

Gold Futures

A futures contract allows you to sell/buy gold at a fixed price in the future, at the time of closing (expiration) of the contract. The second most popular investment asset for gold, it is available at almost all brokers.

ETFs

Standard funds with the principal invested in gold, the largest being the iShares Gold Trust (IAU), Market Vectors ETF Junior Gold Miners (GDXJ), SPDR (GLD), and VanEck Vectors Gold Miners ETF (GDX).

Stocks

Buying shares of industry (usually gold mining) companies implies that the value of such securities grows along with the price of market, speculative gold. Although there may be market periods when such dynamics does not persist. But the weak correlation of such shares with other types of investments stabilizes your investment portfolio.

By owning shares in such companies, we can access operating profit margins.

Please note:

As a rule, the price of shares for purchase/sale transactions is issued in USD (very rarely - in another currency). To avoid currency fluctuations affecting your profit, we recommend investing in the purchase of securities of those companies that convert their gold reserves into USD before paying dividends to shareholders.

Spot gold

Spot gold price is the current purchase price of one troy ounce of metal for immediate delivery, usually used in physical gold deals. In terms of fundamental analysis, it is determined by demand for safe haven assets and speculation in the gold futures market.

The spot price is determined by over-the-counter trading, i.e. the buy/sell balance, and for large deals the "gold fixing" price is used, which is determined twice daily by the London Bullion Market Association (LBMA). Auctions are held twice every trading day at 10:30 and 15:00 GMT, 13 companies are accredited to participate in LBMA Gold Price.

The value you see in brokers' specifications is the bid price, which is the highest price buyers are willing to pay for a futures contract. That's why the London Gold Fix price is tied to the electronic trading of gold futures on COMMEX, part of the CME Group (NASDAQ:CME).

What is the best what to invest in gold?

The choice of the optimal gold asset depends on the starting capital, personal experience of the trader and the level of risk he can afford. Beginners do not have the ability and sufficient experience to trade complex assets and conduct multifactor analysis, so they try to speculate on gold CFD and futures. And this is normal if you have a stable trading system and adhere to strict risk management.

It is on CFDs that active traders can create capital for a full-fledged investment in ETFs or stocks. Without trading experience, an effective risk control system and a capital of at least $1000, it is not worth getting involved with complex exchange-traded instruments.

Fees charged by gold trading brokers

Pay attention to the following points:

• The broker always charges for gold deals in the form of spreads and/or commissions, but their level usually depends on the type of trading account - the more professional the trader and the more he invests, the more loyal the trading conditions will be

• Spreads/commissions and their calculation schemes depend on the type of trading asset

• All spreads on gold are dynamic, so brokers' specifications usually contain minimum and average values. The more stable and liquid the market is, the smaller the spread. In abnormal market conditions, the spread may increase ("widen") and your risk management should take this into account

• The range of spreads is wide (see the table), but if a broker promises zero spreads - do not believe it, in this case there is a commission on deals, and it can unpleasantly surprise you

• Commissions of gold deals usually have a constant and dynamic component. Please note - in some cases the commission is charged on trading volume. Commissions also depend on the type of account, as well as in different trading software can be calculated according to different schemes

• Please note: the broker can change the parameters and scheme of spreads/commissions calculation at any time and does not always warn you about it. Follow the news and technical information!

Before you start trading with real capital, you should check the current spreads/commissions on a demo or cent account in order to adjust your trading strategy and management system if necessary.

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