*82% of retail CFD accounts lose money.
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.
The UK-based FxPro, founded in 2006, offers more than 2000 tradable instruments across currency pairs, commodities, share CFDs, indices, and cryptocurrencies. We deem it the best option for professional traders due to its comprehensive offering, which comprises favorable fees, advanced platforms, and a variety of supporting tools.
Key Features:
FxPro achieves ultra-fast order execution speeds of around 12 milliseconds, which is among the best in the industry. Professional traders can thus benefit from reduced risk of negative slippage with FxPro.
I conducted my testing on the FxPro App, which features more than 100 technical indicators and drawing tools. It supports all basic order types (market, limit, and stop) and features one-click trading. The FxPro App’s advanced charting capabilities are powered by the seamless TradingView, and it incorporates advanced market research by Trading Central.
I assessed that FxPro’s Elite trading account is best suited for professional traders. It features raw spreads from 0.0 pips and a $7 round-turn commission per full-sized trade contract. The account type has a minimum deposit requirement of $30,000 and rebates starting from $1.5 per lot.
PrimeXBT, founded in 2018 and headquartered in South Africa, is earning a reputation for its innovative and comprehensive trading app. It boasts an impressive assortment of tools and features, including copy trading.
Key Features:
The feature-rich PrimeXBT mobile app has a pleasant and easy-to-navigate design and supports copy trading. Signal followers can replicate the positions of successful traders, whereas signal providers can earn a commission for each subscriber they get.
The app also offers two-factor authentication for extra security, direct customer support, high-definition charting, easy order execution, and account management capabilities.
PrimeXBT’s single account type features zero commissions and floating spreads from 0.9 pips. Live testing revealed that its trading fees vary, with gold spreads sitting in the middle range. The account type has a low minimum deposit requirement of only $10 and features nearly 200 tradable instruments.
Founded in 2009, Plus500 is an industry-renowned financial derivatives broker that offers over 2,800 tradable instruments. Gold traders can benefit from the wide array of gold products, including CFDs, vanilla options, and ETFs.
Key Features:
Plus500 has developed a feature-rich mobile app with a user-friendly design. It features more than 150 analytical tools (technical indicators and drawing tools) and chart configurations (timeframes and chart types).
Mobile traders also have access to Plus500’s advanced market analytics tool +Insights, This tool pools activity data from the broker’s more than 20 million clients and presents the user with a quick overview of current market dynamics (buying and selling pressures).
I conducted my live testing on the Plus500 standard account, which features zero commissions and floating spreads from 0.8 pips. Based on my assessment, the broker offers low-to-average spreads on instruments across different classes. Regarding gold, I discovered that Plus500’s spread of around 30-35 pips is also in line with the industry benchmark.
AvaTrade is a forex and CFDs broker established in 2006 in Ireland and has since then expanded its operations globally. It offers more than 840 tradable instruments across and stands out with its range of trading platforms and apps.
Key Features:
AvaTrade has a well-rounded and highly informative collection of educational materials. Beginners can learn about the basics of technical and fundamental analysis, the psychology of trading, risk management, and more. The educational content is separated into articles, guides, e-books, and webinars.
I conducted my testing on the AvaTrade App, which impressed me with its advanced charting capabilities. This is quite rare for trading apps that are run on low-resolution devices. Most importantly, the app offers the AvaProtect risk management tool – an innovative service that allows traders to insure a particular position against adverse market fluctuations.
I also assessed that AvaTrade offers favorable trading fees on its standard account, featuring commission-free trading and floating spreads from 0.9 pips. Broken down by asset class and compared to the industry average, I learned that AvaTrade charges low spreads on share CFDs, low-to-average spreads on currency pairs and commodities, average spreads on indices, and high spreads on cryptocurrencies.
FBS is a forex and CFDs broker founded in 2009 and headquartered in Belize. Its clients can access over 540 tradable instruments from different markets. FBS stands out with its beginner-friendly services and a decent selection of trading tools, including free VPS hosting. st order execution speeds below 5 milliseconds and stable internet connectivity.
Key Features:
FBS integrates the standard suites of MetaTrader 4 and MetaTrader 5, available for desktop, web, and mobile app trading. The broker has also developed a proprietary trading app powered by TradingView with advanced charting capabilities. The app features a wide array of analytical tools and easily scalable charts for studying price action behavior.
I conducted my tests on an FBS standard account, which features commission-free trading and floating spreads from 1.0 pips, and found FBS’ fees competitive and generally in line with the industry average. The gold spread fluctuated between 30 and 38 pips. The broker’s swap fees are within the norm. There are no non-trading fees.
In this section, you will read about the most important things to consider when choosing a mobile app for gold trading:
To verify that the trading app you choose is safe to use, you need to verify that the forex broker offering it is fully licensed and regulated. Here’s how you can do it:
Read more about Best regulated forex brokers.
To find a mobile app offered by a trustworthy broker, make sure that it guarantees the following safety requirements.
Mobile apps are primarily used for gaining quick access to the account and the market. Traders use them to place new orders or adjust existing positions if necessitated by changing market conditions.
For the purposes of gold trading, you must consider whether the app has user-friendly and high-definition charts, how many analytical tools it features, and whether it has a news screener or any other types of research tools and content.
Check out our dedicated guide on Best forex trading apps.
Here is a quick rundown of some of the most important things to avoid when choosing a broker with the best gold trading app:
Explore Best lowest spread forex brokers and Best low swap fees forex brokers.
Scammers often exploit traders’ trust by promising quick and risk-free profits. They may also impersonate reputable companies by using deceptive branding. To counter this, regulators like the FCA maintain registers to help traders identify fraudulent entities.
The best and easiest way to protect yourself is to make sure you work with a trustworthy and transparent broker. You can find a comprehensive list of reliable brokers by jurisdiction here.
By staying vigilant and conducting thorough research, you can protect yourself from falling victim to trading scams.
The forex and CFD analysis team at FXEmpire is made up of seasoned trading industry professionals and experienced financial journalists. Our experts have been featured on leading financial platforms, including Investopedia and Forbes, and bring extensive hands-on trading experience to their work.
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.
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.
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.
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.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.