After testing more than 80 brokers this year, FXEmpire has built a large database of information for its testing of firms, and what could serve specific traders better, depending on the situation. When trading soft commodities, the broker list shrinks, as in general, soft commodities have been the purview of only futures brokers. However, there are CFD firms that allow you to get exposure to those markets.
In this review, I am looking to find the best options out there, paying attention to not only the markets offered, but the trading conditions, platforms available, and the extras such as education, trading analysis, and news.
Using FXEmpire’s comprehensive methodology, our team of experts has identified the best soft commodities trading forex brokers for this year.
Now, let’s explore the selected brokers.
Plus500 was founded in 2008 and is listed on the London Stock Exchange. In 2022, they launched their futures trading division for US residents. This allows them to trade a wide variety of futures contracts, with no platform fees. Plus500 is regulated by the CFTC and the NFA.
Soft Commodities Trading Features:
The Plus500 Futures Trading App offers access to futures markets, including soft commodities, but also equity indices, cryptocurrencies, energy, metals, and forex. The large offering for futures traders will attract US traders, with the margin rates being variable. The highest intraday margin I found was $910 for soybeans.
Plus500 US offers educational materials in its Futures Trading Academy, with a lot of videos and articles that are helpful for learning. This starts with beginning traders, and extends to more seasoned traders.
IC Markets has been around since 2007, and is a top broker for trading softs. They are regulated by several global regulators, such as CySEC, ASIC, and FSA Seychelles. IC Markets has eight soft commodities available for trading, but also offers over 2,250 markets. The research section is good, and the platforms are all ones that traders will be familiar with.
Soft Commodities Trading Features:
IC Markets has over 2,250 instruments for trading, including forex, stocks, indices, commodities, and cryptocurrencies. There are eight soft commodities available via CFD markets, including cocoa, coffee, corn, cotton, orange juice, soybean, sugar, and wheat. There are also stocks related to these commodities as well.
Soft commodities are available using any of the platforms with up to 1:100 leverage. The average spread for coffee is 0.30 pips, and there is no commission. Autochartist and Trading Central tools provide research and real-time trading ideas on all types of markets, including soft commodities.
FP Markets has been in operation since 2005 and offers several account types. FP Markets is regulated by several top-tier regulators like CySEC, ASIC, and FSCA. Offering over 850 instruments makes it a global one-stop shop for traders, and it offers Autochartist and Trading Central as well.
Soft Commodities Trading Features:
IC Markets has over 2,250 instruments for trading, including forex, stocks, indices, commodities, and cryptocurrencies. There are eight soft commodities available via CFD markets, including cocoa, coffee, corn, cotton, orange juice, soybean, sugar, and wheat. There are also stocks related to these commodities as well.
FP Markets offers access to six commodity CFDs available, including coffee, cocoa, corn, sugar, and wheat. There are a total of over 850 markets, including forex, stocks, indices, commodities, and cryptocurrencies. Coffee spreads were averaging 0.69 pips when I tested it, but had zero commissions.
Research tools from Autochartist and Trading Central are available as well.
FxPro was established in London back in 1999. The broker has over 2,100 instruments, including soft commodities. FxPro is known for a lot of things, but the FxPro Trading Platform is one of the main reasons it stands out.
Soft Commodity Trading Features:
The FxPro Trading platform features charting capabilities for the most demanding of technical analysts. It has over 70 technical indicators, drawing tools, and multiple chart configurations. The charting package is world-class, and one-click trading and alerts are available. Adding to the ability to see the action, Depth of Market (DoM) trading is also possible. The broker has also developed FxPro Mobile App, which keeps most of the features from the web version.
FxPro’s Standard account has a 1.2 pips spread with no commissions. This is in line with the industry average. The spreads do vary widely, though, from what I saw in testing.
AvaTrade was started in Ireland, and has been in business since 2006. AvaTrade can offer futures, options, and CFD trading. The over 1,250 assets available for trading are one major reason for its popularity. AvaTrade offers several soft commodities for trading as well.
Soft Commodity Trading Features:
 AvaTrade gives traders access to the biggest soft commodity markets, with a spread of 0.25 pips for coffee, and no commissions. The spread is better than the industry average for CFD trading. AvaTrade offers over 1,250 assets for trading, allowing soft commodities traders bigger global options if they choose them as well.
Platforms include MetaTrader 4, MetaTrader 5, cTrader, AvaOptions, WebTrader, Duplitrade, and AvaTradeGo App.
AvaTrade provides extra trader protection via the benefit called Guardian Angel, which offers instant feedback on your decision-making process and trading moves to help you manage risk, and identify mistakes.
eToro has been offering trading since 2007, and has been popular for copy trading over the years, being a trailblazer in this space. eToro is regulated by FCA, CySEC, ASIC, and FINRA. The eToro Academy has tutorials for its web platform, as well as full-blown trading courses on trading, including commodities. The copy trading feature allows traders to automatically replicate the trades of other successful traders in the ecosystem.
Soft Commodities Trading Features:
eToro offers the most soft commodities in this list, with a total of 14. The broker also offers more than 2,000 instruments, allowing traders to get involved globally via different asset classes. eToro offers livestock CFDs as well as some of the biggest markets, and with the spread of Coffee being 0.70 pips, with no commissions, is slightly higher than industry standards, but the range of options can be a major influence in your decision.
Beginners will like how simple the eToro Web platform is to navigate and use. There are a large number of tutorials available on how to use it, and the platform makes following others simple as well. The eToro Academy is excellent and has a wide range of topics covered.
The forex and CFD analysts and editors at FXEmpire bring together seasoned trading professionals and experienced financial journalists. Many of our experts have been featured in leading publications such as Investopedia and Forbes, and all of them combine strong industry credentials with hands-on 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 licensed 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.
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.
Christopher Lewis is an experienced trader and technical analyst specializing on currencies, indices, and commodities. He also has been working as a proprietary trader for institutional accounts. Chris has been an FXEmpire analyst since the site's early days and shares his trading insights on his own blog, The Trader Guy. His sharp, practical understanding of the trading industry means he knows forex and CFD brokers inside-out, so you can trust his guidance on how they work and which one to choose.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.