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11 Best Gold Trading Brokers for 2024

Looking for the top gold trading broker? Based on our hands-on analysis, we’ve identified 11 best options tailored to various trading needs. Practical tips from our experts are included.

By:
Dan Blystone
Reviewed By:
Ola Alder
Updated: Apr 10, 2024

List of Top Brokers & Platforms to Trade Gold

Best brokers for US traders

State-of-the-art proprietary web platform and mobile app. Low spreads in gold.  Low intraday margin requirements for a diverse range of futures contracts.

Best brokers for international traders

Tight gold spreads. Broad range of commodity CFDs available. Copy trading. High leverage. Accounts with the offshore entity insured up to $1M.

Intuitive platform. Unique sentiment data. TradingView charts. Suitable for day traders. Great customer support.

Cutting-edge design and functionality. Robust charting. +Insights tool. Sentiment data. Alerts. Two-factor authentication.

Strong in-house research materials. Helpful third-party tools. Insightful webinars.

Diverse live webinars. Platform tutorials. 24/7 support. User-friendly mobile app.

ECN account with raw spreads and low commissions.  DMA CFD trading. Full suite of MetaTrader. MAM/PAMM Accounts. VPS hosting.

IG Academy. Live Webinars. 35 commodities including gold, silver, and palladium. Tight spreads. Cutting-edge platform.

Four account types. STP/ECN accounts. Strong variety of commodity CFDs. Dedicated account manager available.

Tight spreads in gold. No inactivity fee. No fees for deposits and withdrawals. Range of available account types.

Full suite of MetaTrader platforms and exclusive custom add-ons. cTrader platform. Low latency trading. Virtual Private Server (VPS).

How did FX Empire choose the best brokers and platforms for gold trading?

FXEmpire's Methodology

We carefully considered the needs of gold traders and focused on the points that benefit this group the most.

  • We ensured each broker has an entity regulated by at least one top-tier regulator and measured their overall trustworthiness including the company’s background and transparency.
  • We looked for brokers with competitive gold spreads and swap fees. We also checked that each broker has a high level of transparency regarding their fees.
  • We preferred brokers that offer trading gold in different asset classes such as options, spread betting, shares, ETFs, and futures.
  • We conducted a test drive for each platform, digging into available order types, charting, watchlists, and UX.
  • We ensured that each broker had a strong range of tradable instruments, including gold and other commodities.
  • We tested customer service across phone, chat, and email with many questions, paying attention to responsiveness and the overall quality of the support.
  • We made a balanced assessment using various other areas (account-opening process, deposits and withdrawals, research, and educational resources).
  • Using our extensive database of broker reviews, we made side-by-side comparisons to choose the winning broker for each category.

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.

Best Overall

CFDs can be very risky because they use leverage, which might not be suitable for everyone. The use of leverage means that even a small amount of money you deposit initially can lead to big losses due to market movements. CFD trading is particularly risky because the markets they involve are speculative and can change a lot. Trading these products could mean losing money, therefore, you must carefully consider your financial situation and risk tolerance before trading CFDs.
  • Min Deposit
    $50
  • Tradable Instruments
    14189
  • Fees
    Medium

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.

  • Spreads in gold: 25 pips, better than the average for the industry
  • Available gold trading assets: Spot gold (XAU/USD) and gold futures (GCJ3)
  • Available leverage for spot gold: 1:20 leverage at the European entity, 1:30 at the Australian entity, 1:500 at the offshore entity
  • Alternative gold pairs: XAU/EUR (live account only)

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.

Pros
  • Competitive spreads.
  • No deposit or withdrawal fees.
  • Great customer service.
Cons
  • Inactivity fee.

Best Gold Trading Platform

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.
  • Min Deposit
    $0
  • Tradable Instruments
    233
  • Fees
    Medium

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.

  • Spreads in gold: 20 pips, much better than the average for the industry
  • Available gold CFD assets: Spot gold (XAU/USD)
  • Available leverage for the spot gold CFD: 1:2000 and unlimited leverage is available if certain conditions are met
  • Alternative gold pairs; XAU/EUR, XAU/AUD, XAU/GBP, XAU/USD, and BTC/XAU

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.

Pros
  • User-friendly, robust platform.
  • Competitive spreads.
  • No swap fees for gold.
  • Social trading.
Cons
  • Not available in Europe or the UK for retail clients.

Best Gold Trading App

CFD Service, 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
  • Min Deposit
    $100
  • Tradable Instruments
    2047
  • Fees
    Medium

Plus500 was founded in 2008 and is now a giant of the brokerage industry: available in over 50 countries, with 400,000 active clients. Listed on the London Stock Exchange (LSE: PLUS), it is one of a handful of publicly traded CFD brokers. We verified that Plus500 is a multi-regulated broker, authorized by various top-tier authorities. Clients can access 2,500 CFD instruments via the state-of-the-art WebTrader platform and mobile app.

  • Spreads in spot gold: 36 pips
  • Available gold CFD asset: spot gold (XAU/USD), options on spot gold, the SPDR Gold Trust (GLD) ETF
  • Available leverage for spot gold CFD: 1:20 at the CySEC entity
  • Alternative metals available: Silver, platinum, and copper

Plus500 has invested heavily in its web platform and mobile app, and the results are outstanding. The Plus500 mobile app combines an intuitive interface and advanced functionality. Popular features like watchlists, alerts, and light/dark mode are available, along with built-in analysis, news, and an economic calendar. Our research showed that charting within the app is robust, featuring 13 chart types and 119 indicators, and advanced order types like trailing stops are available. It’s easy to flip back and forth from demo to live mode, and the app provides two-factor authentication as an additional layer of security.

An impressive variety of gold-related instruments are available, ranging from spot gold and gold options to various popular gold-related shares like the mining company Royal Gold (RGLD) and exchange-traded funds like VanEck Junior Gold Miners ETF (GDXJ). The sentiment data built into the Plus500 mobile app shows the percentage of buyers vs. sellers and can be a powerful indicator of potential trend change in these volatile instruments.

Pros
  • High trust rating.
  • State-of-the-art platform.
  • Wide variety of markets.
  • +Insights tool.
Cons
  • No phone support.

Best Research Materials

Your capital is at risk
  • Min Deposit
    $10
  • Tradable Instruments
    223
  • Fees
    High

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.

  • Spreads in gold: 47 pips
  • Available gold CFD assets: Spot gold (XAU/USD)
  • Available leverage for the spot gold CFD: 1:500 at the offshore entity
  • Alternative gold pairs: XAU/EUR

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.

Pros
  • BDSwiss WebTrader platform is easy to navigate.
  • Popular third-party tools available.
  • Diverse account types for beginners and experienced traders.
Cons
  • High inactivity fees.

Best for Beginners

Trading derivatives carries significant risks. It is not suitable for all investors and if you are a professional client, you could lose substantially more than your initial investment. When acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial assets. Past performance is no indication of future performance and tax laws are subject to change. The information on this website is general in nature and doesn't take into account your personal objectives, financial circumstances, or needs. Accordingly, before acting on the advice, you should consider whether the advice is suitable for you having regard to your objectives, financial situation and needs. We encourage you to seek independent advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions.
  • Min Deposit
    $50
  • Tradable Instruments
    935
  • Fees
    Low

Vantage is an award-winning CFD broker headquartered in Sydney, Australia. Since launching in 2009, Vantage has grown to acquire over 50,000 active clients worldwide, according to its website. Clients have access to CFDs on forex, commodities, indices, shares, and cryptocurrencies. We confirmed that Vantage is regulated by ASIC and CIMA. Furthermore, all client funds are held in segregated custodial accounts with an AA-rated Australian bank.

  • Spreads in gold: 32 pips, better than the average for the industry
  • Available gold CFD assets: Spot gold (XAU/USD)
  • Available leverage for the spot gold CFD: 1:20 at the UK and European entities, 1:333 at the offshore entity
  • Alternative gold pairs: XAU/EUR, XAU/GBP (offshore entity only).

Our analysis confirmed that Vantage offers a comprehensive range of educational materials – including articles, videos, courses, and webinars. The Academy section of the website hosts detailed guides covering topics such as trading strategies and trading psychology. For novice traders, there are materials styled as a course, ranging from market terminology to technical and fundamental analysis. We observed that these materials are frequently updated and of high quality.

Multiple live webinars take place weekly, featuring market outlook and trading strategy themed sessions. If you struggle with getting up to speed with software, Vantage also offers a series of useful tutorials, enabling traders make the most of the platforms.

Pros
  • Strong research and education resources.
  • Live webinars.
  • Trading Academy.
  • Competitive spreads in major forex pairs.
Cons
  • Wide spreads in some instruments.

Best for Professional Traders

Contracts for Difference (CFDs) are leveraged over-the-counter derivative products and carry a high level of risk to your capital. You should only risk capital that you can afford to lose. In certain circumstances, due to fluctuations in market value you may not get back your initial investment amount. You may not only lose your initial investment but you may incur a liability to pay a further amount to cover losses. This means you can lose more money than you have invested.
  • Min Deposit
    $100
  • Tradable Instruments
    8977
  • Fees
    Low

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.

  • Spreads in gold: 20 pips, better than the average for the industry
  • Available gold CFD assets: Spot gold (XAU/USD)
  • Available leverage for the spot gold CFD: 1:20 at the European entity, 1:30 at the Australian entity, 1:500 at the offshore entity
  • Alternative gold pairs: XAU/EUR and XAU/AUD

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.

Pros
  • Competitive spreads and commissions.
  • Strong range of trading platforms.
  • Tools geared towards professionals.
Cons
  • Share CFD fees are marginally higher than most.

Best Trading Education

4.6
71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
  • Min Deposit
    $250
  • Tradable Instruments
    17252
  • Fees
    Medium

IG was founded in 1974, making it the oldest broker we have reviewed. The London-based forex industry giant now has over 300,000 clients and offices across five continents. IG Group Holdings PLC is listed on the London Stock Exchange and is part of the FTSE 250 Index.

  • Spreads in gold: 30 pips
  • Available gold CFD assets: Spot gold (XAU/USD) and the SPDR Gold Shares (GLD) ETF
  • Available leverage for the spot gold CFD: 1:20 at the UK and EU entities
  • Alternative gold pairs: Platinum, Copper, and Nickel

The IG Academy offers material catering to beginner, intermediate, and advanced traders. Courses are broken down into short, easy-to-digest lessons and feature a quiz at the end to aid the learning process. There is good coverage of commodities trading, including videos like How to trade gold: bullion, coins, ETFs, and shares. I judged the content as well crafted and a great reference for both new and experienced traders.

The award-winning IG Web Platform is intuitive, highly customizable, and packs a robust range of features. These include popular items like watchlists, alerts, one-click trading, and trading from the chart. While trading on the IG Platform, I appreciated the ability to customize it to your preference and create multiple workspaces. The suite of tools – including trading signals from Autochartist, client sentiment, and the news feed from Thomson Reuters – is outstanding.

Pros
  • CFD industry pioneer.
  • Massive range of tradable instruments.
  • Great trading tools and research.
  • Robust and intuitive web platform and mobile app.
Cons
  • Support is not 24/7.

Best Range of Accounts

Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved.
  • Min Deposit
    $0
  • Tradable Instruments
    321
  • Fees
    Medium

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.

  • Spreads in gold: 43 pips, slightly better than the average for the industry
  • Available gold CFD asset:  Spot gold (XAU/USD)
  • Available leverage for the spot gold CFD: 1:20 at the UK and European entities, 1:1000 at the offshore entity
  • Alternative gold pairs: XAU/EUR

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.

Pros
  • Seven account types for different trader profiles.
  • Multiple deposit and withdrawal options.
  • Competitive gold spreads.
Cons
  • Limited research materials.

Best Low Spreads

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd. You should consider whether you understand how CFDs, or any other of our products work, and whether you can afford to take the high risk of losing your money.
  • Min Deposit
    $100
  • Tradable Instruments
    747
  • Fees
    Low

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.

  • Sreads in gold: 21 pips, better than the average for the industry.
  • Available gold assets: the spot gold CFD (XAU/USD), real (non-CFD) gold future, options (Standard, Mini, and Micro)
  • Available leverage for the spot gold CFD: 1:20 at the UK and European entities, 1:500 at the offshore entity.

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.

Pros
  • Competitive fees.
  • Licensed by top-tier regulators.
  • Wide selection of tradable instruments and supporting tools.
Cons
  • Customer support only available during office hours.

Best Trading Tools

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
  • Min Deposit
    $200
  • Tradable Instruments
    2251
  • Fees
    Low

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.

  • Spreads in gold: 18 pips, much better than the average for the industry
  • Available gold CFD assets: Spot gold (XAU/USD)
  • Available leverage for the spot gold CFD: 1:20 at the European entity, 1:30 at the Australian entity, and 1:500 at the offshore entity
  • Alternative gold pairs: XAU/EUR

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.

Pros
  • Robust tools and platforms.
  • Competitive fees.
  • Strong research and educational resources.
Cons
  • Trading platforms have a learning curve.

Best Metal Futures in the US

Trading with leverage comes with a high risk and may not be suitable for everyone.
  • Min Deposit
    $100
  • Tradable Instruments
    52
  • Fees
    Low

A giant of the CFD industry, Plus500 has recently expanded into the United States to offer futures trading via its state-of-the-art proprietary web platform and mobile app. Since launching in 2008, Plus500 is now available in over 50 countries and has 400,000 active clients. US clients can access futures contracts on forex, indices, commodities, bonds, and cryptocurrencies.

  • We experienced low spreads in gold, an average of 10 cents, plus a commission of $‪2.46‬ per side including exchange and NFA fees.
  • Available gold futures contracts include CME Gold, E-mini Gold, and Micro Gold.
  • The intraday margin requirement for the full-sized CME gold futures contract is $500 per contract (currently equal to leverage of roughly 1:400).
  • Alternative metals futures contracts include silver, platinum and copper.

Plus500 has invested heavily in its proprietary WebTrader platform, which takes ease of use to a new level. WebTrader has a range of popular features, including watchlists, trading from the chart, and access to live chat support from within the platform. I especially liked the ease with which you can flip between demo and live trading. The ability to easily enter three orders at once (your initial, order, profit target and stop loss) is another great feature. Futures trading becomes simple and straightforward with this ultra-intuitive platform.

To freely day trade stocks in the US requires an account balance of at least $25,000, but this is not the case with futures. Plus500 US lowers the barrier of entry to active trading with a $100 minimum deposit, competitive commissions, and low intraday margin requirements for a diverse range of futures contracts. For example, to trade the CME Micro Gold futures contract, the intraday margin requirement is just $50.

Pros
  • Cutting-edge WebTrader platform.
  • Feature-rich mobile app.
  • Competitive commissions.
  • Standard, Mini, and Micro contracts.
Cons
  • No phone support.

What are the differences between physical gold trading and CFD gold trading?

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:

  • Ownership: When you buy physical gold, you own the physical asset, and you can store it yourself or have it stored in a secure vault. With CFD gold trading, you do not own the physical asset instead, you are trading on the price movements of gold.
  • Liquidity: Physical gold can be more difficult to buy and sell quickly, especially if you own large quantities or unusual sizes or types of gold. CFD gold trading, on the other hand, allows traders to easily enter and exit positions quickly, as there are typically more buyers and sellers in the market.
  • Leverage: CFD gold trading allows traders to use leverage to increase their exposure to the market. This means that you can trade a larger position with a smaller amount of capital. Physical gold trading does not offer leverage.
  • Costs: Physical gold trading may involve costs such as storage fees, transportation fees, and insurance costs. CFD gold trading, on the other hand, typically involves only trading fees such as spreads, commissions, and overnight financing fees.
  • Market access: CFD gold trading allows traders to access a wider range of gold markets, including international markets, and to trade on the price movement of gold in real time. Physical gold trading, on the other hand, may be limited to local markets and may not offer real-time price information.

How to choose a broker for trading gold?

When looking for a gold trading broker, you should pay special attention to the following points.

Can I trust the broker?

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.

What to look for in the brokers’ gold offering?

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.

Explore our list of Best CFD brokers.

Is the platform user-friendly?

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.

Read more about Best MetaTrader 4 brokers and Best MetaTrader 5 brokers.

Are the fees competitive for gold?

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 Best forex brokers with lowest spreads.

What is the minimum deposit?

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 Exness to $200 in the case of IC Markets. Typically, the minimum deposits at CFD brokers are relatively low.

What is the available leverage?

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.

Explore Best forex brokers with high leverage.

What to avoid when choosing a gold trading broker?

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.

How to avoid forex and CFD scams?

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.

Our Methodology

Our selection of top forex brokers for beginners is based on our unique, thoroughly refined proprietary methodology. FXEmpire, a pioneer in CFD broker reviews since 2010, has developed a detailed analysis process, involving over 250 data points per broker.

We categorize brokers into nine key areas: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education. Our reviews clarify complex topics like regulatory status for an easy understanding of fund safety and benefits.

Our rigorous evaluation includes live testing, research, questionnaires, and broker demonstrations. We open accounts with each broker, focusing on standard account types and platforms, testing spreads, swap fees, and other costs.

Our comparative analysis assesses broker competitiveness industry-wide, highlighting platform features and usability. FX Empire maintains high editorial integrity, with reviews based on objective, measurable data, free from personal biases, and regularly updated for accuracy.

For this guide, we focused on brokers offering competitive gold spreads and swap fees, ensuring high transparency in their fee structures. We prioritized brokers that provide diverse trading options for gold, including asset classes like options, spread betting, shares, ETFs, and futures. Our evaluation included a thorough test drive of each platform, examining the variety of available order types, charting features, watchlists, and overall user experience. Additionally, we ensured that each broker offered a robust selection of tradable instruments, emphasizing the availability of gold and other commodities.

We abide by our strict guidelines for editorial integrity based on the objective standards we have set for our reviews. You can read more about our review process here.

Meet our Writers

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.

Get to Know Our Authors

Dan BlystoneBroker Analyst

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 SolankiBroker Analyst

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.

Plamen StoyanovBroker Analyst

Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.

Vladimir ZernovBroker Analyst

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.

The amount of money you need to trade gold depends on several factors, including the price of gold, the size of your trades, and the leverage offered by your broker. Basically, you can start trading CFDs on gold with as little as $100.
Gold is a highly volatile instrument, so beginners should be cautious, educate themselves on the basics of trading, and have a well-defined risk management strategy. To get started, you can open a demo trading account with a reputable broker and practice trading gold with virtual funds.
We rated Tickmill as best for fees, with gold spreads as low as 18 pips. Also, Multibank is a good choice for gold traders with spreads of 25 pips which is better than the average for the industry.
We rated Exness and Multibank have the best gold trading platforms. The Exness Trading Terminal has an intuitive interface and popular features such as watchlists, 1-click trading, and trading from the chart. While MultiBank offers the popular MetaTrader 4 and MetaTrader 5 platforms across desktop, web, and mobile, as well as cTrader for trading on the go.
Yes, as long as a broker you connected to offers the MetaTrader platform. Gold is usually traded against major currencies such as the US dollar, the euro, or the Japanese yen. You can access live gold prices and charts on the MetaTrader platform to make informed trading decisions.
Buying physical gold involves purchasing the actual metal in the form of coins, bars, or bullion. While trading gold CFDs involves speculating on the price movements of gold without owning the physical metal. When trading gold CFDs, the investor is not taking ownership of the underlying asset but instead enters into a contract with a broker to profit from the difference between the buying and selling price of the contract.
XAUUSD reflects the spot price (current price) for gold measured in US dollars. This price may differ from other gold contracts, such as CME gold futures.
We rated Vantage as the best gold trading broker for beginners due to its strong research and education materials and reliable customer support.
We rated FP Markets as the best gold broker for advanced traders and professionals thanks to plenty of trading platforms, a great range of trading tools, VPS hosting, and specialized accounts.
No. To trade gold via CFDs, futures, or ETFs, it is necessary to have a broker who provides traders with access to trading platforms and tools that allow them to buy and sell gold.

About the Author

Dan BlystoneBroker Analyst

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.

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