To some, gold is the ultimate store of value. It can serve as a hedge against inflation, a safe haven in unstable times, and diversify your investment portfolio. Gold is also an exciting instrument to trade due to its volatility and tendency to move in long-term trends. Interest rates and currency movements (in particular the US dollar) impact the price of gold, which remains one of the world’s most important commodities.
While it’s possible to invest in gold by simply owning the metal outright, trading CFDs on gold via a broker offers high leverage and convenient risk management tools. Moreover, CFD trading is a convenient alternative to physical gold trading which involves storage and insurance costs.
Finding the best gold CFD broker can be a quite complicated task due to a large number of brokers, varying fees and services, regulatory requirements, and the risk of fraud. FX Empire is an industry leader with over ten years of experience reviewing CFD brokers. Considering the different needs of gold traders, we broke down this list into ten major categories.
We carefully considered the needs of gold traders and focused on the points which benefit this group the most.
Our team of experts has identified each broker’s strengths and weaknesses using FX Empire’s comprehensive methodology. Here’s how we test.
Now let’s go through the selected brokers.
Founded in 2005, MultiBank has a long track record as a CFD broker and has grown to have a major global presence. The Dubai-based broker is regulated across 5 continents and maintains over 20 offices globally to cater to an international client base.
Gold traders need quality order execution and MultiBank is a non-dealing desk broker using Straight Through Processing (STP) for optimal fills. Low trading-related fees keep costs to a minimum for active traders. Deposits and withdrawals are free and fast, also there is a wide range of available methods. Customer support at MultiBank Group is first class and we experienced almost zero wait times in our tests.
Insurance from Lloyd’s of London can provide peace of mind that funds are safe. MultiBank Group's offshore subsidiary MEX Atlantic offers a $1M excess loss insurance policy underwritten by Lloyd's of London.
Exness is a large and well-established forex and CFD broker with a unique offering. The Limassol, Cyprus-based broker was founded in 2008 and offers access to trading in CFDs on currencies, crypto, stocks, indices, and commodities.
Gold traders must be nimble and Exness delivers a platform that can cater to day traders in fast-moving markets. The Exness Trading Terminal has an intuitive interface and popular features such as watchlists, 1-click trading, and trading from the chart.
Charting provided by TradingView is robust, with 50 drawing tools, 100 indicators, 9 time frames, and 7 chart types. Standard order types are available and the platform also has a sentiment indicator that tells you the percentage of buy and sell orders that were recently opened by traders. In addition to the Trading Terminal platform, Exness provides clients with the full suite of MetaTrader platforms. In our tests we found Exness to have competitive gold spreads.
Plus500 was founded in 2008 and has grown to become a true CFD industry leader. The London-based brokerage giant is available in over 50 countries and has 400,000 active clients.
Overseen by multiple top regulators across the globe and as a large publicly traded company, Plus500 earned a high trust ranking in our tests. It has invested heavily in software, and this has paid off. The cutting-edge WebTrader platform distinguishes Plus500 from the competition and is a pleasure to use.
The Plus500 mobile app is available for iOS, Android, and Windows. The mobile app is very similar to the web platform. It has an intuitive interface and offers a range of great features, including watchlists, alerts, traders' sentiment data, two-factor authentication, and a demo mode.
Gold traders can stay abreast of market-moving releases with the robust economic calendar built into the app. The +Insights tool takes advantage of the massive client base of the broker, revealing useful data like the most traded instruments and profit-making positions.
With an operating history of over ten years, BDSwiss has grown to provide brokerage services for over a million clients worldwide. The Cyprus-based firm offers trading in a wide range of CFD assets via its beginner-friendly web and mobile platforms and the popular MetaTrader platform.
BDSwiss shines in the research category with high-quality market analysis, webinars, a weekly outlook, and special reports. An in-house team of analysts provides daily market coverage in both written and video formats. Traders can benefit from in-depth reports offering insights into the currents moving the markets. In addition, research from award-winning Trading Central is available to clients.
Founded in 2009, FBS is a user-friendly broker offering a broad range of CFD markets and competitive fees. Several top-tier regulators, including CySEC and ASIC, govern entities of FBS.
The Cyprus-based broker provides various account types using MetaTrader 4, MetaTrader 5, and the FBS Trader app. Our tests showed better-than-average spreads in popular trading instruments, such as gold and EUR/USD.
FBS has gone above and beyond with its educational materials. New traders can sink their teeth into helpful articles, platform tutorials, trading ideas, and videos. Courses covering technical analysis and money management themes help new traders orient themselves in the markets. Short-term gold traders often rely on technical analysis, and these materials help to provide a solid foundation. With content ranging from the CFD market basics to complex trading strategies, there is something for beginners to advanced traders alike.
In trading the gold market with FBS, beginners can also rely on the full range of customer support channels: phone, live chat, and email. A demo account is also available to test the waters risk-free.
Australian CFD brokers have a reputation for high standards, and FP Markets is no exception. The Sydney-based broker has won over 40 industry awards and has a long operating history of 18 years. FP Markets earned a high trust score in our review, with entities regulated by top-tier ASIC and CySEC.
Clients can access thousands of instruments across stocks, indices, forex, commodities, and cryptocurrencies. The Standard Account is great for beginner traders as it offers commission-free trading. The Raw Account is suited to professional traders as it is commission based but with lower spreads. FP Markets also provides an IRESS Account, enabling clients to trade with Direct Market Access (DMA).
Available trading platforms include MetaTrader 4, MetaTrader 5, WebTrader, IRESS, and a user-friendly proprietary mobile trading app.
FP Markets offers a great range of tools for professional traders. MAM/PAMM accounts allow clients to manage money on behalf of others. Algorithmic traders can use a Virtual Private Server (VPS) to run automated trading strategies 24 hours a day, seven days a week, with low latency and reduced risk of downtime. Industry-leading third-party tools Autochartist and Trading Central are also available and provide good coverage of the gold market.
Established in 2011, FXTM is a global forex and CFD broker headquartered in Limassol, Cyprus. Entities of FXTM subsidiaries are regulated by top-tier authorities including the UK FCA and CySEC.
FXTM offers the full suite of MetaTrader platforms: MetaTrader 4 and MetaTrader 5 for desktop, web, and mobile. Custom MT4 Indicators are provided to clients. For example, the Pivot SR Levels indicator allows you to view daily, weekly, and monthly pivot points and the corresponding support and resistance levels on one chart. VPS hosting is available for traders using automated strategies.
We experienced tight spreads in gold in our hands-on tests. Progressively tighter spreads are also available depending on the account type you choose. In our tests, we found that educational materials and the quality of customer service are better than average at FXTM.
Founded in 2010, IronFX offers trading in a broad range of CFDs, including forex, commodities, indices, stocks, and cryptocurrencies. CFDs on futures are also available, including futures on metals. The Cyprus-based broker has entities regulated by top-tier CySEC and FCA and an unregulated offshore entity. In our live tests, we found that spreads in gold are competitive.
IronFX offers the popular MetaTrader 4 platform and its proprietary Web Trader app. Traders have seven types of accounts to choose from four accounts with live floating/fixed spreads and three STP/ECN accounts. Islamic account options are available for the four floating/live fixed spreads accounts.
Deposits and withdrawals are made easy at IronFX. Clients have a broad choice of payment methods, including bank wire, credit cards, digital wallets, and cryptocurrencies. There are no fees for deposits or withdrawals except for bank wires under $300.
Founded in 2014, Tickmill earned a high mark in our trust category, with five entities primarily licensed by first and second-tier regulators. The London-based broker offers a wide range of CFD instruments. Futures and options on gold are also available for UK clients, giving traders a broader choice of contracts.
Tickmill is a user-centric broker that bucks the CFD industry trend by not charging inactivity fees or fees for deposits and withdrawals. Clients can choose between a standard account providing commission-free trading and floating spreads or Pro and VIP accounts with raw spreads and fixed commissions.
Our live tests showed that Tickmill has competitive spreads for gold and most other instruments. Swaps and commissions are also relatively low. You get the sense that Tickmill genuinely wants to see its clients succeed in the market and does its best to support this by cutting costs.
IC Markets launched in 2007 and has grown to become a market leader, providing access to trading in currencies, stocks, commodities, futures, bonds, and digital assets. The Sydney, Australia-based broker caters to the needs of advanced traders with cutting-edge trading platforms, low-latency connectivity, and better-than-average liquidity. In our live tests, we found spreads to be highly competitive.
Traders can take advantage of the full range of MetaTrader platforms and the cTrader platform, which offer automated trading and copy trading capabilities. A Virtual Private Server (VPS) allows traders to run automated trading strategies nonstop with the fastest possible connectivity to the IC Markets trading servers.
IC Markets introduced 20 exclusive trading tools previously unavailable on MetaTrader 4. These include apps such as ‘Correlation Trader’, which enables users to compare the correlation between two symbols and trade emerging differences. Correlation strategies are beneficial for gold traders, as the yellow metal has a positive correlation with instruments such as AUD/USD.
In selecting the best forex brokers for beginners we used the results of our advanced proprietary methodology. All of the brokers listed were among the leaders in our tests.
FXEmpire has been reviewing brokers since 2010 and has pioneered the in-depth evaluation of CFD brokers. Our process has taken years to refine and involved hundreds of reviews. We’ve gone to a granular level – with over 250 data points in our analysis of each broker – so you can feel confident in selecting the right platform.
To provide the most comprehensive view, we break down the brokers according to nine different categories:
In our individual broker reviews, we explain complex areas like regulatory status, so you can easily understand the safety of your funds and the benefits you are guaranteed.
Data is gathered through live testing, research, detailed questionnaires, and in-person broker demonstrations. An account is opened with each broker, focusing primarily on the services of one entity and testing using the most standard account type and platform. We conduct live tests of spreads and measure overnight swap fees and account-related costs.
Our side-by-side analysis reveals whether a broker is competitive in relation to the industry as a whole. Trading platforms take time to master, but we have already done the legwork for you and our evaluations highlight their important features and usability.
FX Empire abides by strict guidelines for editorial integrity. Scoring is based on objective criteria and mostly measurable data, so our reviews cannot be swayed by individual preferences or biases. The review process is independent and follows a strict protocol. In addition, all facts are carefully checked and rechecked, as reviews are continually updated. Read more about our review process here.
For this best brokers page we selected the best forex brokers for the UK, but, as traders have different needs, we separated the brokers into the categories where they stood out as winners.
The team of forex and CFD analysts and editors at FXEmpire is composed of trading industry professionals and seasoned financial journalists. Our experts have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
Physical gold trading involves buying and selling actual physical gold, such as gold bars or coins, while CFD (Contract for Difference) gold trading involves buying and selling a contract that represents the price movement of gold without actually owning the physical asset.
Here are some key differences between physical gold trading and CFD gold trading:
When looking for a gold trading broker, you should pay special attention to the following points.
Take into account the regulatory status of the broker. CFD brokers regulated by top-tier financial authorities must undergo audits, meet capital requirements, and provide segregated accounts and negative balance protection. A compensation fund is sometimes available in the event of broker insolvency.
Tip: you can search the regulator’s website to confirm the broker’s status and check for any disciplinary action. The broker’s size and operating history are also worth considering. You can usually find these on the company’s LinkedIn page.
Read more about Best regulated forex brokers.
Forex and CFD brokers typically offer spot gold (XAU/USD), which reflects the live price – the cash market. Some brokers also provide gold against other currencies, such as XAU/GBP, XAU/EUR, and XAU/AUD. In some instances, you can trade gold against crypto, for example, Bitcoin against gold (BTC/XAU).
A variety of other gold-related CFDs are sometimes available – these include CFDs on gold futures, gold options, and ETFs related to gold such as the SPDR Gold Trust (GLD). A handful of CFD brokers also offer ‘real’ (non-CFD) gold futures and options trading.
An intuitive, easy-to-navigate platform will allow you to launch into the trading world with minimal hitches. The most user-friendly platforms are typically browser-based platforms created by the broker. Look for easy-to-implement features such as watchlists, trading from the chart, search, news, and a customizable interface.
The MetaTrader 4 and 5 platforms have advanced features like backtesting, automated trading, and a wide range of order types – but are less user-friendly. Also, check on the availability of a good, broker-designed (proprietary) mobile app. This is especially important as MetaTrader is no longer available on iOS.
Read more about Best MetaTrader 4 brokers and Best MetaTrader 5 brokers.
Working with a broker that keeps the spreads to a minimum can make the difference between profit and loss at the end of the day. This is a crucial point for day traders. We rate gold spreads of above 55 pips as high, 36-54 pips as medium, and less than 35 pips as low.
Find out the minimum initial deposit so you won’t be taken by surprise when it’s time to trade live. This can vary from $0 in the case of
The available leverage at CFD brokers is a significant benefit when trading a commodity like gold. If you want to invest in gold bullion, leverage is not available. When trading gold ETFs, 1:2 leverage is typical. CFDs on gold offer a much higher degree of leverage, typically between 1:20 and 1:500, depending on which financial authority regulates your broker.
Beware of using excessive leverage, even if it is tempting. It’s an enthralling feeling to control a large position in the market. But when markets are moving fast, and you are holding a highly leveraged position, there is a high risk of losing money. Accounts can get wiped out in seconds.
As a beginner, having solid support on hand is essential. Check the hours of availability, for example, whether help is on hand 24/7 or only during business hours. Chat support is the most convenient, so look for an easy-to-access chat window built into the broker platform. In the case of a platform outage, it is also important to be able to contact support via phone.
When choosing a broker for trading gold, you should look for competitive spreads and swap fees. If you want to day trade gold, you should look for a broker that offers 1-click trading. Without 1-click trading, the order entry process is too slow for such a fast-moving market. If you plan to hold positions over days or longer, check the swap fees, which can be very expensive over time.
A common scam in the forex and CFD industry involves vendors offering a trading strategy that guarantees an outlandishly high return in little time. These may involve automated trading using bots or a signal service where trades are shared via chat or social media. Nobody can guarantee returns with certainty, and it is more likely that such strategies will lose money. When assessing strategy or signal providers, you should look for a live track record audited by a third party, but remember that past performance does not guarantee future results.
Traders should also be highly cautious about opening an account with an unregulated offshore broker. Such brokers may offer a straightforward account opening process, bonuses, and high levels of leverage but client funds are not protected. Meanwhile, brokers regulated by top-tier authorities must undergo regular audits and are held accountable for misconduct. Traders can also benefit from having their funds held in segregated accounts, negative balance protection, and a compensation fund in the event of broker insolvency.
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.