Best Gold Trading Brokers Reviewed

During economic hardship and market turmoils, investors turn to assets proven to be a hedge against inflation. One of the most effective assets to fight inflation is gold. This precious commodity gained significant value during the 2008 financial crisis, and its price has moved in the opposite direction to the stock market and the US dollar. To potentially benefit from this asset class, investors should opt for the best gold trading brokers.

Throughout this guide, we reviewed potentially the best gold brokers online, highlighting their features, benefits and everything traders need to know to start trading. We also summarized every broker’s features in a table, making it convenient for traders to compare their offerings. Then, we detailed the criteria we used to determine the best brokers and how they may benefit traders.

Your capital is at risk. 79% of retail investor accounts lose money when trading CFDs with this provider.

Best Gold Trading Forex Brokers Reviewed

Our comparison of the brokers we found to offer gold trading services led us to discover the best gold broker online.

1. eToro – Overall Best Gold Trading Broker with Copy Trading

One of the reasons that eToro is possibly the best broker to trade gold with is that it caters to traders of all skill levels. If a trader wants to open a position without being overwhelmed with advanced tools, this platform makes it convenient. However, professional traders can use the platform’s advanced tools to optimize their analysis.

Traders in the US and UK need to deposit only $10 to trade gold on eToro. A 0.5% conversion fee is applicable to funding accounts with currencies other than the US dollar. Traders have numerous funding options such as bank wire, debit/credit card, Paypal, Skrill and Neteller, to name a few. Deposits are free, but withdrawals are charged $5.

eToro charges 45 pips for gold trading. Silver incurs a 5 pip trading spread. Another fee that traders should be cognizant of is the inactivity fee. Traders who are inactive for 12 consecutive months are charged $10 monthly. To avoid the charge, traders should log into their accounts.

Besides offering one of the best forex trading apps, eToro enables CopyTrading. Professional traders on this platform let other users copy their trades. It’s a great way for beginners to learn from the pros and profit from their successful trades. This feature is especially useful for traders lacking technical analysis skills or the time to analyze markets. And the best part of this service is that it’s free.

What We Like

Your capital is at risk. 79% of retail investor accounts lose money when trading CFDs with this provider.

2. XTB – Precious Metal Platform Offering Low Spreads

Many traders consider XTB to be one of the best gold trading brokers. It’s perfect for beginners who want to simplify their trading, but professionals will also appreciate the broad range of assets offered on the platform.

Traders can choose between xStation 5 and xStation mobile. Both of the platforms are easy to use and offer fast execution speeds. XTB’s web trade platform offers advanced tools, and it’s compatible with Chrome, Safari, Firefox and Opera. A desktop app version is also available. Traders can test out the platform on the demo account before going live.

No minimum deposit is required to start trading gold. Some of the payment methods available are debit/credit cards, Paypal and Paysafe. This broker offers 24-hour, 5 days a week gold trading, and spreads for gold start at 0.3. XTB enables traders to magnify their positions by using leverage of 500:1 and also makes transparent rollover visible on the chart.

Another great benefit of using this trading platform is the market analysis provided, and a ton of educational content to help traders position themselves well in the market. For more features and benefits, check out our in-depth XTB review.

What We Like

78% of retail investor accounts lose money when trading CFDs with this provider.

3. Axi – Award-Winning Broker Offering Gold Copy Trading

Axi enables traders to access gold, silver, copper and platinum markets. Bullion spot CFDs and metal futures CFDs are available. Trading precious metals on Axi requires a minimum trade size of 0.01 of a standard lot.

Besides receiving fast trade executions, traders open precious metals positions without incurring commissions. Traders can increase their positions by using 30:1 leverage. Axi has simplified gold trading by enabling Copy Trading. Beginners who want to replicate the results of professionals can copy their trades for free.

Axi enables traders to filter their searches and analyze the statistics of professionals whom they want to copy. A deposit of $250 is recommended, but lower balances are accepted. Otherwise, traders can automate trading by installing Expert Advisor on the MT4 platform.

Traders who feel confident about trading gold without copying trades can enhance their strategies by using PsyQuation and AutoChartist. PsyQuation provides performance analytics to help traders reduce mistakes. AutoChartist is great for traders who prefer a tool to scan the market and alert them of specific trade setups.

Whether beginner or advanced, traders can access a wealth of trading education for free. Videos, guides and webinars are available for traders to improve their skills. If that’s not enough, traders can take an in-depth course on trading by joining the Axi academy.

What We Like

81.6% of retail investor accounts lose money when trading CFDs with this provider.

4. Libertex – Metals Platform Requiring Low Deposits

Libertex is one of the forex brokers that trade gold. This broker is available to traders in more than 125 countries and has received multiple awards for outstanding service. One of the things we like about this broker is that it has tailored a free trading course for beginners. Market analysis is also provided for assets to help traders determine gold sentiment.

To trade gold, traders can choose between the app, MetaTrader 4 and MetaTrader 5. Each platform offers unique benefits and advanced tools and strategies, and traders are welcome to test out each platform with a demo account of up to $50,000. Libertex is regarded as one of the best MT5 brokers. because it makes trading convenient for beginners while empowering professionals to enhance their strategies.

Traders can start trading gold on Libertex with only $10. The platform enables account funding by various methods such as bank wires, cards, Paypal and numerous other options. Libertex doesn’t charge deposit fees or swaps for overnight positions. Consecutive inactivity for 6 months incurs a $5 monthly inactivity fee.

Spreads for certain assets start from 0.00, and traders can take advantage of leverage up to 500:1. Besides gold, traders can also use Libertex trading for stocks, crypto, indices, commodities, forex and ETFs.

What We Like

Your capital is at risk. 70.8% of retail investor accounts lose money when trading CFDs with this provider.

5. Pepperstone – Spread Betting Platform Offering Affordable Fees

Pepperstone is ideal for all traders seeking access to commodities, currency indices, shares, indices, cryptocurrencies and forex. But Pepperstone has made a separate platform for professional clients. Some of the perks of opting for the pro account are higher leverage than standard accounts, premium rewards, credit facilities, large trading sizes and a dedicated manager to attend to an investor’s needs.

The great aspect of this platform is that it allows traders to choose between several platforms. Apart from the app, Pepperstone grants traders access to MetaTrader 4, MetaTrader 5 and cTrader. Opening a Razor Account enables traders to connect directly to TradingView. Better spreads are also offered to Razor account clients.

Traders don’t incur commission fees when trading gold, but they can expect an average spread of 0.14 for XAU/USD. The other best pair to trade in forex is EUR/USD, which has a spread starting at 0.6. Pepperstone recommends a minimum balance of AUD $200, which is equivalent to US $136. Traders can fund their accounts with various methods such as cards, bank transfer, BPay, Paypal and Neteller.

One of the benefits of using this platform is that it hosts regular webinars, presented by professionals. All traders can join the webinars for free and also receive news and analysis.

What We Like

81.18% of retail investor accounts lose money when trading CFDs with this provider.

6. Avatrade – Renowned Broker with Options & Social Trading

Risk is a big factor in trading, and the last thing that traders need is to have their funds mismanaged by brokers. That’s the reason it’s important to invest with a regulated broker. Nine financial authorities regulate Avatrade, which shows that this broker is committed to upholding high financial ethical standards.

Avatrade enables traders to choose from several platforms such as MetaTrader 4, MetaTrader 5, AvatradeGO and even web trader. It even provides an automated trading platform. Traders can choose between DupliTrade and ZuluTrade. These features enable beginners to follow professional traders and automatically duplicate their trades.

Besides gold, Avatrade provides precious metal trading for silver, platinum, palladium and copper. Traders can use a leverage of 200:1 and expect an average spread of 0.29 for trading gold on this platform. The minimum deposit required by this platform is $100.

Beginner traders have access to a plethora of trading education. Not only does Avatrade provide market analysis, but it hosts numerous videos and guides about trading and its platform.

What We Like

7. Webull – Top-Tier Broker with No Deposit Minimums

Finding the best broker for gold trading can be challenging, so traders may want to consider Webull. It’s a platform geared more towards traders wanting to include smart tools in their trading. But it’s also suitable for traders who prefer not to have a minimum deposit enforced on them and enjoy taking advantage of fractional ownership in stocks.

To start trading with Webull, traders can choose from several options such as bank wire, debit/credit card, ACH, Paypal, Neteller and other methods to fund their account. The good news for traders not wanting to risk significant amounts of money is that Webull doesn’t have a minimum deposit requirement.

Webull charges spreads on gold trading and enables traders to manage large positions by offering 4x day-trading buying power and 2x overnight buying power. To use margins, traders need to fund their accounts with at least $2,000.

Apart from offering gold trading, Webull provides one of the best stock trading platforms for beginners. Traders also have access to fractional stock ownership, cryptos, indices, over-the-counter (OTC) trading and ETFs. A content database is also available for beginners wanting to learn how to trade and navigate the platform.

What We Like

Your capital is at risk.

8. IG – Broker Providing Educational Content

Having lots of options in trading is important for most traders, and that’s exactly what IG offers. Traders can access several markets such as shares, indices, options, futures, cryptocurrencies and forex. But IG also offers platforms such as ProRealTime, DMA trading, MetaTrader 4, algorithmic trading and a mobile app.

Included in the 35 commodity assets offered is gold trading, and traders can expect an average spread of 0.3 on IG.  A minimum deposit isn’t required if an account is funded via bank transfer. But a $300 minimum deposit may apply if funded with a debit/credit card.

Traders can use advanced tools to do their technical analysis and receive live market updates with the in-platform news feed. Beginners who lack conviction in their technical analysis can use trade alerts sent from the platform to enter trades. A library of free educational content is also available.

What We Like

9. XM – Regulated Broker Offering a Sign-Up Bonus

Opening an account with XM enables beginners to claim a $30 bonus. This platform also offers a 50% deposit bonus for up to $500 and a 20% bonus for deposits up to $4,500. Traders can join the XM Loyalty program and receive free VPS services.

The average spread for gold on XM is 0.35. Experienced traders who want to open large trades may qualify for leverage up to 1000:1, and a zero swap is applied to low accounts. To start trading gold on XM, traders need to deposit a minimum of $5.

XM is another broker that offers numerous options not only in asset classes but also platforms. It offers MetaTrader 4 and MetaTrader 5 for PCs and Macs, as well as tablets and smartphones. Trading tools such as forex calculators are also available and a learning center, offering live webinars and seminars.

What We Like

10. Tickmill – Gold Platform Providing Various Assets

Traders looking for a gold low spread broker may want to consider Tickmill. The fees and benefits traders enjoy depends on the account they choose to open. Traders can choose between classic, pro and VIP accounts. The platform also offers an Islamic account and enables traders to test out the platform on a demo account.

Tickmill offers a $30 welcome bonus to start trading forex, crypto, stocks, bonds and precious metal. Before funding accounts, traders should know how to trade gold. Trading gold on Tickmill entails using either an MT4 or MT5 platform and expecting a typical spread of 0.09. That makes Tickmill a broker offering one of the lowest gold spreads on the market.

This platform enables traders to open positions using leverage up to 500:1 with an average execution speed of 0.20 seconds. To enjoy such large positions, traders need to deposit at least $100.

What We Like

Best Gold Trading Brokers Compared

We provided a table comparison for investors to glean the information of all the brokers we reviewed in a convenient format.

How we Choose the Best Brokers for Trading Gold

We looked at several features and benefits to determine gold traders that are worth mentioning.

Fees

It’s crucial that brokers offer low fees. No hidden fees are acceptable, and high fees lower profits. But they make losses even worse.

Trading Tools

Beginners need a trading platform that provides simple execution, but it also needs to offer professional traders advanced tools and strategies to embed into the analysis.

Mobile App

Traders on the go expect a broker to offer a trading app that mimics the desktop platform, providing all the key features and is suitable for a mobile screen.

Security

Brokers need to demonstrate that they’re serious about upholding high financial ethical standards. The best way to assure clients their funds are safe is for brokers to be regulated by financial authorities.

Conclusion

Many traders consider eToro to be the best gold trading broker because it doesn’t charge deposit and withdrawal fees. And it offers numerous currency pairs at low spreads. On top of that, traders can open large positions thanks to the leverage offered.

Your capital is at risk. 79% of retail investor accounts lose money when trading CFDs with this provider.

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