Best Gold Trading Brokers 2022

Updated: May 18, 2022
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Gold is highly tradable. Commonly seen as a great store of wealth, this precious metal is also known as a reliable safe-haven asset. Uncertainty in the market, especially from geopolitical and economic drivers, pushes people into investing in metals like gold. 

Since the recession of 2008, many people have flocked to gold, to protect themselves against market volatility. But, the problem with gold is that actually owning it takes a lot of space. Gold is bulky. So now, more and more people are trading it as a CFD. That means speculating on its price movement, rather than owning the underlying asset. Many brokers offer it on their platforms and it is almost always found on the MetaTrader 4 platform.

The brokers below represent the best brokers for gold trading.

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BrokerOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptooffers promotions
MultiBank Group
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By using this website and or its services, you agree that neither MultiBank Group nor any of its affiliates and service providers will be held responsible for the accuracy of any information available on this site. Although information on this site is provided in good faith and is believed by MultiBank Group or its affiliates to be accurate, there are no explicit or implicit warranties of accuracy or timeliness made by MultiBank Group or its affiliates and service providers regarding this information. Furthermore, in visiting this site and in opening an MultiBank Group or its affiliates Forex trading account you agree not to hold MultiBank Group or any of its affiliates and service providers liable for any decisions you may make based on the information you obtain on this website or websites we link to. It is recommended that you make your decisions only after you have reviewed information and collected opinions from several credible sources and have verified ALL facts you need to know about Forex trading from other independent sources. MultiBank Group and its web hosting providers and its affiliates shall in no event be liable for any damages and or loss resulting from interruption of website service or the inability to use our website. Unless stated otherwise, material on this site is copyright of MultiBank Group. MultibankFX is the trading name of Multibank FX International Corporation (BVI) Company No. 1377324.

ASIC, FMA, CNMV in Spain, BaFin, VFSC, CIMA

$50

1:30 (ASIC), 1:500 (FMA), 1:30 (CNMV in Spain), 1:30 (BaFin), 1:500 (VFSC), 1:250 (CIMA)

MT4, MT5

2005

ECN

XTB
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77 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FCA, CySEC, FSC, CNMV in Spain, KNF

N/A

1:30 (FCA), 1:30 (CySEC), 1:500 (FSC), 1:30 (CNMV in Spain), 1:100 (KNF)

MT4, xStation 5

2002

Market Maker, STP

BDSwiss
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This website is for general information purposes only and is operated by BDSwiss AG. BDSwiss AG is the BDSwiss Group’s Holding Company domiciled in Grienbachstrasse 11, 6300, Zug, Switzerland. BDSwiss AG does NOT offer any financial products or services.

FSC, FSA(SC)

$10

1:500 (FSC), 1:500 (FSA(SC))

MT4, MT5, Proprietary, WebTrader

2012

Market Maker, STP

Exness
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General Risk Warning: CFDs are leveraged products. Trading in CFDs carries a high level of risk thus may not be appropriate for all investors. The investment value can both increase and decrease and the investors may lose all their invested capital. Under no circumstances shall the Company have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to CFDs.

FCA, CySEC, FSCA, FSA(SC)

$10

1:2000 (FCA), 1:30 (CySEC), 1:500 (FSCA), 1:2000 (FSA(SC))

MT4, MT5

2008

Market Maker, No dealing desk

FBS
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Your capital is at risk

ASIC, CySEC, FSCA, FSC

$1

1:30 (ASIC), 1:30 (CySEC), 1:500 (FSCA), 1:500 (FSC)

MT4, MT5, Proprietary

2009

ECN, No dealing desk, STP

FP Markets
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This material on this website is intended for illustrative purposes and general information only. It does not constitute financial advice nor does it take into account your investment objectives, financial situation or particular needs. Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from FP Markets. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Contracts for Difference (CFDs) are derivatives and can be risky; When trading CFDs you do not own or have any rights to the CFDs underlying assets. FP Markets recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from FP Markets can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). FP Markets is a group of companies which include, First Prudential Markets Ltd (registration number HE 372179), a company authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC License number 371/18, Registered Address: Griva Digeni, 109, Aigeo Court, 2nd floor, 3101, Limassol, Cyprus. FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations.

ASIC, CySEC

$100

1:30 (ASIC), 1:30 (CySEC)

MT4, MT5, IRESS, WebTrader

2005

DMA, ECN, No dealing desk, STP

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

ASIC, CySEC, FSCA, FSA(JP), FSC, BVI, CBI

$100

1:30 (ASIC), 1:30 (CySEC), 1:500 (FSCA), 1:25 (FSA(JP)), 1:3500 (FSC), 1:1000 (BVI), 1:30 (CBI)

MT4, MT5, Proprietary, AvaSocial, AvaTradeGo, AvaOptions, WebTrader

2006

Market Maker

FXTM
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82% of retail CFD accounts lose money

FCA, CySEC, FSC

$50

1:30 (FCA), 1:30 (CySEC), 1:3500 (FSC)

MT4, MT5, Proprietary

2011

No dealing desk, ECN, Market Maker

Tickmill
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.27% and 73.32% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FCA, CySEC, FSCA, FSA(SC), Labuan FSA

$100

1:30 (FCA), 1:30 (CySEC), 1:500 (FSCA), 1:500 (FSA(SC)), 1:1000 (Labuan FSA)

MT4

2014

No dealing desk

Plus500
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CFD Service, 77% of retail CFD accounts lose money.

FCA, ASIC, CySEC, FSCA, FMA, FSA, MAS

$100

1:30 (FCA), 1:30 (ASIC), 1:30 (CySEC), 1:30 (FSCA), 1:30 (FMA), 1:30 (FSA), 1:20 (MAS)

Plus500

2009

No dealing desk

Pro Tip: Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash.

Here’s a list of the Best Brokers for Gold Trading:

Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients


MultiBank Group

Regulated by:ASIC, FMA, CNMV in Spain, BaFin, VFSC, CIMA

Headquarters:Hong Kong

Foundation Year:2005

Min Deposit:$50

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By using this website and or its services, you agree that neither MultiBank Group nor any of its affiliates and service providers will be held responsible for the accuracy of any information available on this site. Although information on this site is provided in good faith and is believed by MultiBank Group or its affiliates to be accurate, there are no explicit or implicit warranties of accuracy or timeliness made by MultiBank Group or its affiliates and service providers regarding this information. Furthermore, in visiting this site and in opening an MultiBank Group or its affiliates Forex trading account you agree not to hold MultiBank Group or any of its affiliates and service providers liable for any decisions you may make based on the information you obtain on this website or websites we link to. It is recommended that you make your decisions only after you have reviewed information and collected opinions from several credible sources and have verified ALL facts you need to know about Forex trading from other independent sources. MultiBank Group and its web hosting providers and its affiliates shall in no event be liable for any damages and or loss resulting from interruption of website service or the inability to use our website. Unless stated otherwise, material on this site is copyright of MultiBank Group. MultibankFX is the trading name of Multibank FX International Corporation (BVI) Company No. 1377324.

MultiBank Group (MultiBank) was founded in California, USA in 2005. It is regulated globally by the German Federal Financial Supervisory Authority (BaFin), Australian Securities and Investments Commission (ASIC), the Cayman Islands Monetary Authority (CIMA) and many others. The focus for this review is the services offered on the https://multibankfx.com website.

Clients have the ability to trade on more than 20,000+ markets covering Forex, Indices, Shares, Commodities and Cryptocurrencies all through popular trading platforms MetaTrader 4 and MetaTrader 5 which can be accessed on Windows, Mac, Web and Mobile platforms.

The broker offers clients three main account types called ECN Pro, MultiBank Pro and STANDARD as well as demo and Islamic trading accounts. Spreads are competitive and can be from zero with commissions on the ECN Pro account. The MultiBank Pro and STANDARD accounts are commission-free.

Pros: Cons:
  • Regulated across 5 continents.
  • 20,000+ markets to trade on.
  • MetaTrader 4 and MetaTrader 5 available.
  • Commission-free trading available.
  • ECN Trading accounts available.
  • Limited research or educational material

XTB

Regulated by:FCA, CySEC, FSC, CNMV in Spain, KNF

Headquarters:Poland

Foundation Year:2002

Min Deposit:N/A

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77 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

XTB is an award-winning CFD platform that supports Forex, indices, commodities, stock CFDs, ETF CFDs, and cryptocurrencies. For Forex, XTB supports 48 currency pairs with low-cost spreads. Customers of XTB can choose between trading on the xStation 5 or MT4 platforms. For leverage accounts, this brokerage offers leverage of up to 200:1.

Stock and ETF CFDs all attract a fixed commission of 0.08% per lot across the two types of accounts.

XTB was founded in 2002 with headqיuarters in Warsaw. It is regulated in markets across Europe by the IFSC, FCA, KNF, and CySec. XTB has a free demo account and a Trading Academy set of courses for beginner and intermediate traders.

Pros: Cons:
  • Choose between two excellent trading platforms (xStation 5 or MT4 platforms)
  • A collection of 3000+ trading instruments across six asset classes
  • Low spreads
  • Fewer Forex pairs than some top competitors
  • No 24/7 support

BDSwiss

Regulated by:FSC, FSA(SC)

Headquarters:Mauritius

Foundation Year:2012

Min Deposit:$10

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This website is for general information purposes only and is operated by BDSwiss AG. BDSwiss AG is the BDSwiss Group’s Holding Company domiciled in Grienbachstrasse 11, 6300, Zug, Switzerland. BDSwiss AG does NOT offer any financial products or services.

BDS Markets Ltd is an online financial services provider licenced and regulated by the FSC Mauritius, offering forex and CFD for trading on its online trading platforms. Its sister company BDSwiss Holding PLC is operating under CySEC licence No 199/13, Today, BDSwiss Holding PLC  is located in Limassol, Cyprus and has a Tied Agent in Germany.  Both companies belong to the BDSwiss Group of companies.

Pros: Cons:
  • Multiple regulations.
  • Commission-free trading available.
  • Access to raw spreads available.
  • Can trade on MetaTrader 4 and MetaTrader 5.
  • Best spread accounts require higher minimum deposits.

Exness

Regulated by:FCA, CySEC, FSCA, FSA(SC)

Headquarters:Cyprus

Foundation Year:2008

Min Deposit:$10

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General Risk Warning: CFDs are leveraged products. Trading in CFDs carries a high level of risk thus may not be appropriate for all investors. The investment value can both increase and decrease and the investors may lose all their invested capital. Under no circumstances shall the Company have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to CFDs.

Exness was founded in 2008 and is a joint brand name of Nymstar Limited, a Securities Dealer registered in Seychelles authorised and regulated by the Financial Services Authority (FSA) of Seychelles, and Vlerizo (Pty) Ltd – a Financial Service Provider authorised and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa.

The broker offers clients the ability to trade on 200+ financial CFD instruments covering Forex, Shares, Indices, Energies, Metals and Cryptocurrencies, from its WebTrader platform and the globally renowned MetaTrader 4 and MetaTrader 5 platforms for Web, Windows and MAC.

Pros: Cons:
  • 200+ financial CFD instruments
  • Unlimited leverage.
  • Commission-free trading available.
  • MT4/MT5 available.
  • Fee-free deposits and withdrawals.
  • Not available in all regions.

FBS

Regulated by:ASIC, CySEC, FSCA, FSC

Headquarters:Belize

Foundation Year:2009

Min Deposit:$1

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Your capital is at risk

FBS is a brand name of FBS Markets Inc which is authorised and regulated by the International Financial Services Commission (IFSC) of Belize and the Financial Sector Conduct Authority in the Republic of South Africa (FSCA). In the EU and the UK, FBS is operated by Tradestone Limited, which is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). In Australia, FBS is operated by the Intelligent Financial Markets Pty Ltd with the Australian Securities and Investments Commission regulation (ASIC).

FBS offers the ability to trade on multiple asset classes covering CFDs on Forex and Stocks, Indices, Metals and Energies on the MetaTrader 4 and MetaTrader 5 trading platforms for PC, Mac, Web, Android and iOS operating systems. Moreover, clients from the countries under IFSC, FSCA, and CySEC regulations have an opportunity to trade in FBS Trader app, all-in-one trading platform. Clients from the countries under IFSC and FSCA regulations can also access copy trading services via the FBS CopyTrade app.

Pros: Cons:
  • Commission-free trading available.
  • Regulated under CySEC, ASIC, and FSCA.
  • ECN accounts available.
  • Can trade on MetaTrader 4, MetaTrader 5 and FBS Trader.
  • FBS CopyTrade available for traders and investors.
  • Fast customer live chat service.
  • Good range of deposit methods
  • Limited number of instruments.
  • Regulated IFSC Belize regulation.

FP Markets

Regulated by:ASIC, CySEC

Headquarters:Australia

Foundation Year:2005

Min Deposit:$100

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This material on this website is intended for illustrative purposes and general information only. It does not constitute financial advice nor does it take into account your investment objectives, financial situation or particular needs. Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from FP Markets. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Contracts for Difference (CFDs) are derivatives and can be risky; When trading CFDs you do not own or have any rights to the CFDs underlying assets. FP Markets recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from FP Markets can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). FP Markets is a group of companies which include, First Prudential Markets Ltd (registration number HE 372179), a company authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC License number 371/18, Registered Address: Griva Digeni, 109, Aigeo Court, 2nd floor, 3101, Limassol, Cyprus. FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations.

FP Markets was founded in 2005 and is regulated by the Australian Securities and Investments Commission (ASIC), offering segregation of client funds and top tier liquidity. FP Markets is a group of companies that includes First Prudential Markets Ltd which is authorised and regulated by the Cyprus Securities and Exchange Commission.

The broker offers the ability to trade on more than 10,000+ financial instruments covering Forex, Equities, Metals, Commodities, Indices and Cryptocurrency CFDs. Users have access to a range of accounts including the Standard Account (commission-free) and Raw Account (commission-based) for MetaTrader users, both offering ECN pricing and maximum leverage of 500:1. Users can also access Iress Accounts which are commission-based.

Pros: Cons:
  • ASIC regulated.
  • ECN pricing and DMA trading available.
  • 10,000+ tradable financial instruments.
  • Wide range of trading platforms and trading tools available.
  • Excellent customer support and education tools.
  • The volume of choice of markets and accounts may be overwhelming for beginner traders.

AvaTrade

Regulated by:ASIC, CySEC, FSCA, FSA(JP), FSC, BVI, CBI

Headquarters:Ireland

Foundation Year:2006

Min Deposit:$100

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

AvaTrade was founded in 2006 and is authorised and regulated across all six continents it operates including by the CBI, BVI FSC, ASIC, FSCA, FSA and ADGM. It is one of the oldest online forex and CFD brokers with a well-established reputation for customer support, competitive fees and spreads – all in addition to offering a large range of financial instruments, even including ETFs and FX options for those who like to diversify across assets.

Users can choose to open several different account types – Retail, Professional, Spread betting and Options. The differences are discussed in the account opening section below. Retail, professional accounts offer access to over 1,250+ financial instruments across the AvaTrade propriety web-based platform, MetaTrader 4 and MetaTrader 5. Additional platforms include DupliTrade, AvaTradeGo, AvaOptions and AvaSocial, all of which are discussed further down this review.

Pros: Cons:
  • Global regulation – CBI, BVI FSC, ASIC, FSCA, FSA and ADGM.
  • A wide selection of platforms for every type of trader including MT4/MT5.
  • Competitive spreads and fees.
  • Multilingual customer support.
  • Not available to residents in the USA and Iran.

FXTM

Regulated by:FCA, CySEC, FSC

Headquarters:Cyprus

Foundation Year:2011

Min Deposit:$50

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82% of retail CFD accounts lose money

FXTM, short for ForexTime, is a platform with a primary focus on foreign exchange. That specialization allows it to rise above many others when it comes to Forex focused trading platforms and tools. CFDs are available on 50+ currency pairs including major, minor, and exotic pairs. Leverage is available up to 1000:1.

Spreads are competitive across all platforms with 24-hour trading open 5 days per week. FXTM is based in Cyprus and licensed by the International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission, and other regulators in and out of the EU. A free demo account is available. 

Pros:  Cons:
  • Support for 250+ products to trade across global markets, including Forex, commodities, shares, indices and cryptocurrency CFDs
  • Competitive spreads
  • MetaTrader 4 and MetaTrader 5 platform support
  • Low maximum order size
  • No native Mac desktop app

Tickmill

Regulated by:FCA, CySEC, FSCA, FSA(SC), Labuan FSA

Headquarters:United Kingdom

Foundation Year:2014

Min Deposit:$100

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.27% and 73.32% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Tickmill was founded in 2014 and is regulated by the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA).

The broker provides more than 80+ CFD instruments to trade on covering Forex, Indices, Commodities and Bonds through three core trading accounts called the Pro Account, Classic Account and VIP Account. They also offer a demo trading account and Islamic swap-free account.

Pros: Cons:
  • Multiple regulations and licences.
  • Commission-free trading accounts available.
  • Competitive spreads and overnight swap charges.
  • Impressive range of trader research tools and analysis.
  • No stocks available.
  • MetaTrader 5 not available.

Plus500

Regulated by:FCA, ASIC, CySEC, FSCA, FMA, FSA, MAS

Headquarters:Israel

Foundation Year:2009

Min Deposit:$100

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CFD Service, 77% of retail CFD accounts lose money.

Plus500 is a leading CFD trading platform with support for stocks, indices, cryptocurrencies, and Forex. This commission-free brokerage charges very low spread-rates and offers fast trades on a great platform. Plus500 supports complex trades.

You can start with a free demo account to test the platform and any trading strategy. Real money accounts offer leverage of up to 1:30. This broker is based in Israel and regulated by the Financial Conduct Authority (FCA) in the UK. 

Pros: Cons:
  • Support for 2000+ products to trade across global markets,including Forex, commodities, shares, indices
    and cryptocurrency CFDs
  • No commission and low spread costs
  • Advanced trades and fast execution
  • Licensed in several regulatory hubs, and publicly listed
  • Only CFDs, no direct Forex trades
  • High rates on margin/leverage accounts
  • Less research data than some competitors
  • No phone support offered

Gold Trading Explained

Gold is a spot metal that is traded on commodity exchanges as well as on forex platforms as a CFD asset. Gold is classified as a hard commodity, which is extracted from the ground. Gold is a tradable asset which is traded on contracts. Available contracts for gold trading include:

  • Spot contracts
  • Forwards
  • Futures
  • Options
  • NDFs

The primary market for gold trading is the futures market, located in the US and London. The gold futures market is traded round the clock, except for a one-hour break within each trading day when the open outcry markets shut down and the CBOT markets kick in.Most of gold trading done in today’s market features the spot contracts (immediate settlement) and the futures contracts (settled in the future after 1 – 3 months).

Generally speaking, gold is traded mostly as spot contracts or futures contracts. It is possible to conduct spot and futures contract trading on gold on the primary futures market: CME, COMEX, CBOT and NYMEX. The margin requirements for these trades on the exchanges are very high and are mostly out of the reach of retail traders.

Retail traders are able to access gold trading via the forex platforms, which list the gold asset as a pairing against the USD or Euro. In this form, gold is traded as a contract-for-difference instrument, which does not involve physical exchange of the asset.Gold prices are mainly impacted by the state of the financial markets. Gold is used as a safe haven for capital preservation when there is uncertainty in other markets.How to Choose a Gold BrokerThe predominant factors which you must consider in choosing a gold broker are:

  • Regulation
  • Trading platform type
  • Software

RegulationCertain regulations guide the trading of gold. For instance, the trading of gold is regulated by the Commodities and Futures Trading Commission (CFTC). The CFTC sets regulations on how retail participation in gold trading can be carried out, and sets out mandates for brokers on enforcement of same. For instance, brokers are mandated to offer gold futures and options contracts at a leverage not exceeding 1:20.

This rule effectively locked out many traders from the platforms of US brokers.We see more of retail gold CFD trading on the platforms of ASIC-regulated, CySEC-regulated, and FCA-regulated brokers. The contract specifications will differ from one region to another. Ensure you are able to select a broker that makes it affordable for you to trade gold.

Gold Trading PlatformsThe platforms that are offered for gold trading are also important. Many market makers offer the MT4 platform and list gold as a pairing against the USD (XAU/USD) on these platforms. You will also see gold listed on brokerages that offer the ActTrader and JForex platforms, as well as the cTrader and the various mobile apps.

Prior to 2015, users of Currenex were unable to trade gold as a listed asset as this professional trading platform was solely dedicated to the trading of currency assets.

However, gold trading was introduced into Currenex on January 19, 2015 as a pairing of both gold/USD and gold/EUR.Gold Automated Trading SoftwareGold can be traded with EAs. The platforms on which gold CFDs can be traded have been identified. EAs can be programmed for them using the various programming languages. Professional traders who trade with advanced platforms such as Currenex, LMAX and cTrader, have to opt for algorithmic trading software which is offered as part of the general package provided to traders.

Gold Trading Account TypesGold can be traded in both directions: upwards or downwards. Some brokers know the inherent risks involved in trading of gold, and that is why they have come up with various strata of accounts to cater for different categories of traders. Although each broker will present their own variety of trading accounts, there is a broad classification of gold trading account types into three:

  • Micro account: This is the beginner level account which caters to those that are very new in the market. Contract sizes are usually restricted to not more than 10 troy ounces. This account is reserved for traders who can only come up with less than $1000 in account capital.
  • Gold accounts: These are the intermediate level accounts, and are usually reserved for traders who can afford between $1,000 and $9,999.
  • VIP/Platinum accounts: these are the accounts meant for those retail traders with lots of cash to spare. The contract specifications are arranged in such a manner that these traders can trade larger contract sizes (usually measured in troy ounces). Account capital requirements that start with as high as $25,000 are the norm here.

Commissions and SpreadsGold trading on forex platforms is usually commission-free. However, gold is marked out from other assets as having the largest spreads of any asset on the forex platforms. Some platforms offer gold with spreads of up to 80 pips. This, combined with the margin requirements, make gold more expensive to trade than the regular currency pairs.Traders who want to trade gold have to be prepared financially for it. The range of price movements can be very high. Price movement between the high and low prices on November 9, 2016 was as high as $68.50, equating to 6,850 pips. This sort of volatility is not what a trader should toy with.ConclusionWe have a list of gold trading brokers for you. How did we come up with this list of brokers?

  • We selected brokers that are regulated.
  • We also selected brokers that offer several account types, knowing that no two traders are the same and therefore a “one account fits all” model will not work for all traders.
  • We chose brokers that had an allowance for traders with less than $500 to come on board, to get a feel of the live market with reduced trade sizes.
  • We looked at platform accessibility and trading conditions.

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