Our list of the best trading platforms for gold in 2024 are:

  • Eightcap - Best Gold CFD Broker Overall
  • Pepperstone - Best Range of Gold Trading Platforms
  • IC Markets - Great Broker For Algo Trading
  • IG Group - Gold Broker With The Best Range of Metals
  • CMC Markets - The Broker That Has A Good Range Of Markets
  • AvaTrade - Best Gold Copy Trading Platforms
  • eToro - The Broker That Has Good Social Trading
  • Plus500 - Best Gold Broker For Beginners
  • FP Markets - Good Broker For Gold Scalp Trading
  • City Index - Good Trading Tools
Broker Our Rating Regulation Standard
EUR/USD Spread
Standard
GBP/USD Spread
Standard
AUD/USD Spread
Raw
EUR/USD Spread
Raw
GBP/USD Spread
Raw
AUD/USD Spread
Commissions
(USD Base)
MetaTrader 4 MetaTrader 5 cTrader Execution Speed Minimum Deposit Currency Pairs Crypto CFDs Retail Leverage Prof. Leverage
75 FCA,ASIC,
CySEC,SCB
1.0 1.0 1.2 0.06 0.73 0.27 $3.50 143ms $100 40+ 250+ 30:1 500:1 Visit Site
98 SCB, ASIC
FCA, CySEC
1.10 1.40 1.20 0.10 0.40 0.20 $3.50 77ms $0 62+ 12+ 30:1 500:1 Visit Site
85 ASIC, FSA-S
CySEC
0.62 0.83 0.77 0.02 0.23 0.17 $3.50 134ms $0 61+ 18+ 30:1 500:1 Visit Site
69 ASIC, MAS, FCA
CIRO, FMA, BaFin
1.12 1.30 1.64 0.5 0.9 0.6 $2.50 138ms $0 338+ 19+ 30:1 500:1 Visit Site
64 ASIC, FSCA
CBI, KNF, CIRO
ADGM, FSC-BVI
- - - - - - - 160ms $100 55+ 15+ 30:1 400:1 Visit Site
71 ASIC, FCA, BaFin
FINMA, NFA/CFTC, MAS
CySEC, DFSA, FMA
JFSA, BMA, FSCA
1.13 1.66 1.01 0.16 0.59 0.29 $6.00 174ms $450 100+ 12+ 30:1 200:1 Visit Site
43 ASIC, CySEC, MFSA
FCA, FSA, FINRA
GFSC
1.0 2.0 1.0 - - - - 130ms $200 (Australia), $50-$100 (EU) 49+ 46+ 30:1 400:1 Visit Site
57 ASIC, CySEC, MAS
FCA, FMA, DFSA
EFSA, FSA, FSCA
1.70 2.3 1.4 - - - - 140ms $100 71+ 15+ 30:1 300:1 Visit Site

1. Eightcap Best Gold CFD Broker Overall

Eightcap

Forex Panel Score

75

Average Spread

EUR/USD = 1
GBP/USD = 1
AUD/USD = 1.2

Trading Platforms

MT4, MT5, TradingView

Minimum Deposit

$100

Why We Recommend Eightcap

We think Eightcap is one of the best gold CFD brokers because it has tight gold spreads, a great range of accounts, and a good overall product range.

While they don’t have the widest commodity offering compared with other brokers, they combine a lot of other advantages including a solid range of products and platform integrations.

Pros & Cons

  • Tight gold spreads
  • Exceptional customer support and support materials
  • Diverse range of platforms
  • Islamic (swap-free) trading unavailable
  • Must use MT5 for full product range
  • No guaranteed stop loss orders

Broker Details

Eightcap is an Australian-based broker who is known as a multi-asset CFD and Forex specialist offering MT4 and MT5. While Eightcap doesn’t have the widest commodity offering compared with other brokers, they combine a lot of other advantages such as tight spreads, quick execution and a good overall product range.

Gold and Precious Metals

Eightcap offers gold, silver, platinum, nickel, zinc and palladium CFDs of the precious metals (which isn’t indicated on their website). While all commodities are tradeable against the USD, only gold CFDs can be traded against the AUD, EUR, JPY or GBP using the broker’s MT5 platform (note, XAU is the trading code for gold).

In terms of spreads, Spreads for gold and silver start as low as 0.01 USD, with an average spread for gold of 0.12 USD while silver averages 0.05 USD.

Other Commodities

The other commodity markets Eightcap offers are Oil CFDs, both Crude Oil and Brent Oil. These can only be traded as CFDs using the MT5 platform and are primarily traded against the USD.

Other Products

Eightcap has quite an extensive product list including 55 Forex pairs, 600+ stocks and over 250 cryptocurrencies, 20 of which can be traded as cross-pairs against the AUD, EUR, GBP, MXN and CHF.

Maximum leverage will depend on what country you are trading in. Australia (regulated by ASIC), offers leverage at 30:1 for major Forex pairs while outside Australia you can obtain higher maximum leverage of up to 500:1.

eightcap brief products metals

Moving away from these commodities, Eightcap also offers 55 forex pairs and 250+ crypto pairs.

Eightcap’s crypto offering is notable because no other CFD broker offers such an extensive collection of crypto for trade. If you are using the MT5 trading platform, Eightcap offers around 86 different cryptos with 20 of these able to be traded against not just US, but also AUD, CAD, GBP, EUR, MXN and even Bitcoin.

Trading Accounts (For Forex Trading)

If your primary goal is to trade commodities (or any financial instrument other than forex), it won’t matter which Eightcap trading account you choose. This is because non-forex products do not have commission costs.

If you do plan to trade forex, you will need to decide between the Eightcap Standard or Raw Accounts.

These accounts will suit different types of traders. The broker’s Raw account has tighter spreads, starting at 0 pips, but you are paying a commission of 7 USD round-turn per 100K traded. This account offers the best value in terms of costs.

The Standard account is more beneficial for beginners, given there are no commissions, while Raw is better for experienced traders given it presents opportunities for scalping and hedging, which are both permitted with Eightcap.

You need 100 USD to open an account outside Australia, and it will depend on what account you choose as an Australian trader.

eightcap accounts and products brief

Trading Platforms

In terms of trading platforms, Eightcap offers the MetaTrader 4, MetaTrader 5 and TradingView platforms which all offer their specific advantages.

MT4 is the most popular Forex platform in the market while MT5 is better suited for CFD trading and offers more trading tools such as 21 chart timeframes and 38 technical indicators. You can trade commodities with both MT4 and MT5.

If a deep analysis is your thing, then TradingView might be a better option. This platform provides you with all the charting tools and indicators you can imagine so you can assess your trading ideas from every angle.

 

eightcap compare trading platform

There are also two additional platforms, Cryptocrusher and The Amazing Trader, which Eightcap have only recently added.

Cryptocrusher is a crypto trading enhancement tool to help improve your crypto trading strategy. Tools include precise entry, target and stop levels, market trend analysis and exclusive indicators plus a 24-hour chat room to discuss your trades.

The Amazing Trader is an advanced charting algo platform for FX, indices, cryptos and metals that doubles as a risk management tool. The platform is available for free with its 28-day success program but you must maintain an account balance of $500 or more.

Eightcap ReviewVisit Eightcap

2. Pepperstone Best Range of Gold Trading Platforms

Pepperstone

Forex Panel Score

98

Average Spread

EUR/USD = 1.12
GBP/USD = 1.69
AUD/USD = 1.22

Trading Platforms

MT4, MT5, cTrader, TradingView

Minimum Deposit

$0

Why We Recommend Pepperstone

From our extensive research, it is clear that Pepperstone offers the best range of gold trading platforms. In addition to being integrated with MT4, MT5, cTrader, and TradingView, Pepperstone also offers a demo account and mobile app functionality.

While the MetaTrader platforms are very popular, cTrader is also great and suited for scalping, while Tradingview is excellent for chart trading.

Across all platforms, you will have access to top-tier liquidity, fast execution speed, and tight spreads for commodity CFD trading.

Risk management is an important consideration, so it’s good that Pepperstone is regulated by multiple tier-1 regulatory institutions, meaning they are undoubtedly a safe and reputable brokerage.

Pros & Cons

  • Diverse range of platforms
  • Excellent customer support
  • Extensive funding options
  • Great trading experience
  • Limited range of educational materials
  • Average spreads and commissions
  • No proprietary trading platform

Broker Details

As a broker, Pepperstone offers a more diverse range of third-party platforms than most brokers for Forex and CFD trading options. This includes several gold markets that can also be traded against multiple currencies.

These trading platforms include the popular MetaTrader 4 and 5 platforms, as well as cTrader, which is great for scalping, and TradingView for chart trading.

Coupled with this, you will receive top-tier liquidity, fast execution speed and tight spreads for commodity CFD trading with Pepperstone being regulated by multiple tier-1 institutions.

Pepperstone also has excellent customer support, with 18-hour coverage on weekends as well as the standard 24/5 on weekdays.

Gold and Other Products

Other than gold, Pepperstone offers a range of 4 precious metals plus copper, 16 soft commodities and 4 energies.

Maximum leverage for gold is 20:1 or 200:1 with a pro account (and also within countries outside the UK, Europe, Australia and UAE). For other commodities, you can have leverage up to 10:1 (or 100:1 with a pro account or in certain regions).

Gold can also be traded against the GBP, AUD, CHF and JPY in addition to the usual, USD.

Pepperstone clients can trade over 160 instruments over a range of asset classes including forex, stocks and commodities, futures, and indices CFDs.

It is worth noting that spread betting in the UK while cryptocurrency CFD trading is not permitted, given FCA regulations.

Pepperstone Metal Products

Trading Accounts (for forex trading)

Like with Eightcap, the account types only matter if you wish to trade forex. This is because trading of instruments other than forex does not have commission costs, unlike forex which may. Pepperstone offers three account types: Standard. Razor (MetaTrader), Razor (cTrader and TradingView).

The standard account is the account for no commission forex trading, meaning you will simply be paying the spread costs (which vary from product to product). For Forex, commission varies depending on what trading platform you’re using, as do spreads.

On the Standard account, you won’t be paying commissions and spreads start at 1.12 pips, which is competitive for a Standard Account.

For Razor, if you use MT4/5, commissions are 7 USD while it’s 6 USD for cTrader and TradingView with tighter average variable spreads, starting at 0 pips.

pepperstone account international 1 pips

Trading Platforms

Apart from the two MetaTrader platforms, Pepperstone also offers cTrader and TradingView.

MT4 and MT5 come with Smart Trader Tools and Figaro Advanced Tools, which allow advanced customisation of your trades, while autochartist is an intuitive charting package that’s available with both the MetaTrader and cTrader platforms.

TradingView is a platform that allows advanced charting for deeper technical analysis, and you can trade directly through the chart. You can also share your trades and see what others are trading through the TradingView social trading network.

Note: MyfxBook is not available for Social Trader in the UK and Europe, instead Pelican Social Trading is available.

Pepperstone Trading Platforms

3. IC Markets Great Broker For Algo Trading

IC Markets

Forex Panel Score

85

Average Spread

EUR/USD = 0.62
GBP/USD = 0.83
AUD/USD = 0.77

Trading Platforms

MT4, MT5, cTrader

Minimum Deposit

$200

Why We Recommend IC Markets

From our research, IC Markets is a great broker for algo trading because they offer you very tight spreads, a Virtual Private Server (VPS), and are integrated with a variety of platforms like cAlgo and cTrader Copy.

Additionally, they’re also integrated with MT4, MT5, and you can also connect to Myfxbook and ZuluTrade, two of the more popular third-party social and copy trading platforms.

If you’re an algo trader, it gets even better as IC offers a Virtual Private Server (VPS) which enables rapid trade execution with average market order speeds executing at 168ms and limit orders at 233 ms.

Pros & Cons

  • Very tight spreads
  • VPS available for use
  • Excellent range of markets
  • Limited educational materials
  • Average trade execution speeds
  • Limited regulatory oversight

Broker Details

IC Markets combines competitive pricing, scalable execution and support for Virtual Private Servers (VPS), making it an excellent option for those who prefer algorithmic gold trading.

The broker’s competitive pricing is spread across all of their account types with low average spreads for most commodities (and other financial instruments).

As a top MetaTrader broker, IC Markets also offers a desktop version of MetaTrader that supports algorithmic trading, while the cTrader suite includes cAlgo for automated trading and cTrader Copy for social/copy trading.

Gold and Other Products

In addition to gold, you can trade 5 precious metals, over 17 soft commodities and 4 energy commodities as spot and futures CFDs with IC Markets.

Precious metals you can trade include gold, silver, palladium and platinum, all with leverage of up to 20:1. Gold can also be traded against multiple currencies including EUR, AUD, YEN and GBP.

Soft commodities markets include corn, soybeans, sugar, cocoa, coffee, and wheat, tradeable as CFDs, all with competitive spreads and leverage up to 10:1.

IC Markets has a decent range of markets, particularly stocks with over 1600 instruments offered, in addition to 61 Forex pairs and a smattering of futures, indices and Forex Trading Automation as well as futures.

ic markets metal products

Trading Accounts (for forex trading)

If you are forex trading, IC Markets offers two main account types, Standard (no commission) and Raw (spread-based) accounts, split across their trading platforms.

Each account type offers competitive pricing with low average spreads, particularly the broker’s Raw Spread account.

Their Raw Spread account gives you the option of using either the MetaTrader or cTrader platforms, with varying commissions based on what currency you trade with.

ic markets account type

Trading Platforms

As mentioned, IC Markets has a great range of trading platforms overall.

ic-markets-trading-platforms

Other than offering MT4, MT5 and cTrader and their plugin add-ons, the broker also offers Myfxbook and ZuluTrade, two of the more popular third-party social and copy trading platforms. These tools can integrate with MetaTrader should you wish to do so.

4. IG Group Gold Broker With The Best Range of Metals

IG Group

Forex Panel Score

71

Average Spread

EUR/USD = 1.13
GBP/USD = 1.66
AUD/USD = 1.01

Trading Platforms

MT4, IG Trading Platform, L2 Dealer, ProRealTime

Minimum Deposit

$0

Why We Recommend IG Group

Without a doubt, IG Group has the most extensive range of markets available of any broker we’ve seen.

There are over 15,000 instruments available to trade including over 35 commodities markets which can be traded as CFDs (shares, spot prices, ETFs, futures, or options contracts) or shares (shares or ETFs).

Additionally, there are over 13,000 stocks (Australian, US, and European only), up to 100 Forex pairs outside the U.S., and 2246 ETFs available to trade, the most of any broker we’ve seen.

Pros & Cons

  • Massive range of markets
  • Great safety and regulation
  • Excellent education materials
  • Average customer service
  • Limited platform integration
  • Minimum deposit requirements

Broker Details

IG Markets has by far the biggest range of tradeable markets of any broker on this list, with over 15,000 instruments available to trade.

From a gold trading point of view, this also means more variety and flexibility in trading options for profit-making opportunities.

Regulated in six tier-1 jurisdictions, IG Markets is also one of the most trusted CFD and Forex brokers.

Gold and Other Products

There are over 35 commodities markets that you can trade with IG Markets, which can be traded as CFDs (shares, spot prices, ETFs, futures or options contracts) or shares (shares or ETFs).

This gives you a great range of trading options and commodities markets to choose from.

From there, IG’s product offerings just get better. There are over 13,000 stocks (Australian, US and European only), up to 100 Forex pairs outside the U.S. and 2246 ETFs available to trade, the most of any broker.

ig markets metal products

Trading Accounts (For CFD Forex Trading)

IG offers one main trading account, which it calls a CFD account, where you can trade all trading instruments offered by the broker.

The only commissions you pay are for share CFDs at 0.475%. For Forex, spreads are in line with the industry average. A minimum spread of 0.16 pips for EUR/USD is what most brokers would offer as their RAW account.

If you are a high-volume trader, you can access DMA (Direct Market Access) pricing through Forex Direct, which gives you lower average minimum spreads. This might not be a suitable option for commodities trading.

Should you choose to fund your account in USD, there is also no minimum deposit for CFD accounts.

ig markets account type

Trading Platforms

As far as trading platforms are concerned, IG offers its own IG trading platform for desktop, mobile, tablet and web apps. In addition, MT4 is also available as well as two specialist platforms: L2 Dealer and ProRealTime.

For trading commodities, IG Trading Platform and MT4 are your best options since you can use the full IG product range for trading.

IG markets Trading platforms

L2 Dealer is suited for advanced shares trading with DMA (direct market access) while ProRealTime has a leading charting package with great technical chart features.

5. CMC Markets The Broker That Has A Good Range Of Markets

CMC Markets

Forex Panel Score

69

Average Spread

EUR/USD = 1.12
GBP/USD = 1.3
AUD/USD = 1.64

Trading Platforms

MT4, CMC NGEN

Minimum Deposit

$0

Why We Recommend CMC Markets

CMC Markets offers a whopping 12,000 tradable instruments, positioning them as one of the most competitive in the industry.

In addition to gold, you can trade 3 other precious metals (silver, palladium, platinum), copper and 5 energies (crude oil, brent, natural gas, gasoline, and heating oil).

Other standout features for CMC Markets include their high-calibre educational resources and the fact that they’re regulated by numerous tier-1 regulatory bodies.

While their spreads aren’t the best in the market, they have very attractively priced commissions, making them a great choice overall.

Pros & Cons

  • Extensive range of markets
  • Great educational materials
  • Regulated by various tier-1 bodies
  • Restrictive account funding options
  • Limited platform integrations
  • Average customer service

Broker Details

A well-respected and trusted UK broker, CMC Markets is a low-cost broker with measurably low trading costs compared to the industry, including a rebate program for active traders (based on your country of residence).

CMC Markets also has a huge range of products on this list, with a whopping 12,000 tradeable instruments.

These products can all be traded on the broker’s award-winning Next Generation trading platform, which is packed with great research and useful trading tools.

Gold and Other Products

As well as gold, the commodities you can trade include 3 other precious metals (silver, palladium, platinum), copper and 5 energies (crude oil, Brent, natural gas, gasoline, and heating oil).

Spreads vary across the board, with gold and Brent the tightest starting at 0.30 pips, while most commodities hover around the 2-3 pip mark.

The maximum leverage available varies based on whether you’re a Canada trader or not. As a retail trader, you can obtain up to 24:1 leverage for gold in Canada, and up to 20:1 everywhere else.

In addition to the commodities on offer, CMC Markets also has 338 Forex pairs and over 9000 stocks available to trade, as well as a handful of crypto and indices CFDs.

Again, leverage depends on where you’re based, as seen in the below table.

cmc markets metal products

Trading Accounts (For CFD Forex Trading)

CMC Markets only offers a CFD account option, which is their version of a Standard (or no commissions) Account. You can still trade all the markets that CMC offers.

You’ll only pay commissions for Share CFDs (from $8) while commodities are all spread-only. This makes CMC Markets a great low-cost broker.

This is reflected in consistently low spreads across the board, including Forex, of which the minimum spread for the EUR/USD, is 1.12 pips.

A disclaimer though: there are some other trading costs you need to be aware of such as holding costs, market data fees, guaranteed stop-loss charges and a monthly inactivity fee. These can all be found on the broker’s website.

cmc markets account types

Trading Platforms

CMC Market’s in-house trading platform, CMC Next Generation, is fast, reliable, and packed with impressive tools and features. It also won the best mobile trading app for 2021.

There is also CMC Market’s Next Generation platform which has heaps of charting features including 80 technical indicators, 40 drawing tools, and 60 candlestick patterns.

cmc markets trading platforms

MT4 is also available with FxBlue (a web-based service for analysing and publishing your trading results) and Autochartist as additional trading tools.

6. AvaTrade Best Gold Copy Trading Platforms

AvaTrade

Forex Panel Score

64

Average Spread

EUR/USD = 0.9
GBP/USD = 1.5
AUD/USD = 1.1

Trading Platforms

MT4, MT5, AvaTradeGo, AvaOptions

Minimum Deposit

$100

Why We Recommend AvaTrade

AvaTrade scored very well in our ‘trading platform’ category given it has two proprietary trading platforms (AvaTrade WebTrader and AvaOptions), the full MetaTrader suite, and copy trading platforms, ZuluTrade and DupliTrade.

With regard to markets, AvaTrade has a fairly extensive range beyond gold including other precious metals and 5 energy commodities.

In terms of spreads, we have found them to be competitively priced across the board, with gold starting at 0.29 pips, while all other commodities have similarly tight spreads.

Another key differentiator for AvaTrade is that gold can also be traded as an option in addition to a CFD.

Pros & Cons

  • Great range of platforms
  • Large range of markets
  • Good regulatory oversight
  • High commissions and spreads
  • Limited educational materials
  • Limited account options

Broker Details

Offering two proprietary trading platforms (AvaTrade WebTrader and AvaOptions), the full MetaTrader suite and copy trading platforms, ZuluTrade and DupliTrade, AvaTrade is our best copy trading broker for gold.

AvaTrade’s proprietary WebTrader platform has a well-designed, responsive layout with a suite of trading tools from Trading Central that can be directly integrated within the platform. This means, not only more trading tools for gold trading but also ease of execution.

One other feature to be aware of is that the spread with Avatrade is largely fixed. This means they can potentially be a good choice for risk-averse traders.

In terms of copy trading platforms, AvaTrade offers ZuluTrade, DupliTrade, and the native Signals market in MetaTrader which gives plenty of options for the copy/social trader.

Gold and Other Products

Like CMC Markets, AvaTrade offers 4 precious metals and other metal commodities as well as 5 energy commodities.

In addition to being traded as a CFD, gold can also be traded as an option giving AvaTrade a point of difference from other brokers.

Spreads are competitive across the board, with gold starting at 0.29 pips, while all other commodities have similarly tight spreads.

Compared with other commodities, maximum leverage is highest for gold at up to 20:1 while all over commodities only go as high as 10:1.

The rest of AvaTrade’s product offerings are solid if not extensive. This includes 55 forex pairs, 632 stocks, as well as a good range of 44 options, 1 of which is gold.

avatrade metal products

Trading Accounts (For CFD Forex Trading)

Like CMC Markets, AvaTrade only offers one account type, their Standard account. However, they differ from every other broker on this list because their spreads are largely fixed rather than variable.

The only downside here is that spreads are slightly wider, particularly for trading forex pairs such as EUR/USD, which starts at 0.9 pips. But that is the price you pay for extra spread stability and also because commissions are effectively reflected in the spread, despite not paying any actual commission.

There are no funding costs but a $100 minimum deposit to open an account with AvaTrade.

avatrade account type canada

Trading Platforms

AvaTrade has lots of great trading platform options including the MetaTrader platforms, the broker’s patented AvaTradeGo and AvaOptions and a multitude of social trading platforms.

avatrade trading platfroms overview

Additionally, AvaTrade offers AvaProtect™, which protects a specific trade against losses of up to one million dollars over a chosen time frame. This comes with a modest hedging cost to offset the risk associated with trading complex instruments such as CFDs.

7. eToro The Broker That Has Good Social Trading

eToro

Forex Panel Score

43

Average Spread

EUR/USD = 1
GBP/USD = 2
AUD/USD = 1

Trading Platforms

eToro Trading Platform

Minimum Deposit

$50

Why We Recommend eToro

eToro boasts a seamless and intuitive interface which resembles a social media feed. The platform is very easy to navigate and enables you to easily replicate the trades of successful traders, fostering a collaborative and community-driven approach to investing.

The broker also boasts a solid range of financial instruments and you can trade gold either via ETFs if you’re based in the U.S. or as CFDs anywhere else in the world.

eToro also offers a range of useful analytics and trading tools which collectively positions them as the premier choice for those seeking a comprehensive and engaging copy trading experience.

Pros & Cons

  • Great social trading
  • Decent range of markets
  • Numerous funding options
  • Trading costs are high
  • Trading platform is limited
  • Average customer support

Broker Details

A social and copy-trading specialist, eToro also offers a large number of gold-related markets and trading options available.

You can trade gold either via ETFs if you’re based in the U.S. or as CFDs anywhere else in the world and eToro provides the ability to select between trading CFDs and the underlying assets directly from the trade-ticket window which is convenient.

eToro has two in-house copy trading platforms: CopyTrader (for individual trades) and SmartPortfolios (for a group of investments or a portfolio). These platforms allow you to copy the trades of experienced investors. You can also share your trading strategies to receive exclusive perks.

Gold and Other Products

There are 7 precious metal and metal commodities, as well as 2 energy and 4 soft commodities, which are on the lighter side compared with others higher up this list. Like most of the brokers on this list, the maximum leverage for gold is 20:1 which you can trade either as ETFs (U.S. only) or as CFDs. You can also view our US low-spread forex broker comparison page.

eToro also offers a good range of 2961 stock trading options, 263 ETFs and 41 cryptos amongst a more modest 49 Forex pairs and 13 indices.

etoro metal products

Trading Accounts (for CFD Forex Trading)

Like other market makers on this list (IG, CMC Markets, AvaTrade), eToro only offers a Standard account, with no commissions.

This means the commission costs are taken into consideration in the spreads, which are a little wider for certain markets, particularly EUR/USD starting at 1 pip.

A bonus once you open an account is that $100,000 is automatically credited into a virtual portfolio (like a demo account) so you can ‘try before you buy’ so to speak.

etoro account types international

Trading Platforms

eToro has its proprietary platform, which merges normal, self-directed trading and copy trading under a unified trading experience. The platform is available as a web trader or via trading apps on Android or iOS.

The reason you sign up for eToro is its social trading community and, in turn, its social trading capabilities. All eToro’s platforms are easy-to-use, and intuitive, and deliver a rewarding, inclusive trading experience.

etoro trading platforms us

8. Plus500 Best Gold Broker For Beginners

Plus500

Forex Panel Score

57

Average Spread

EUR/USD = 1.7
GBP/USD = 2.3
AUD/USD = 1.4

Trading Platforms

Plus500 Trading Platform

Minimum Deposit

$100

Why We Recommend Plus500

From our extensive analysis, we think Plus500 is highly suited for novice traders due to its exceptionally user-friendly trading interface.

Additionally, the broker’s regulatory standing in three tier-1 jurisdictions and four tier-2 jurisdictions enhances its reputation for safety, providing a secure environment, especially if you’re a new trader.

Regarding markets, Plus500 has an enticing range with over 22 commodities available including all the major precious metals, other metals, soft commodities, and energy instruments.

Spreads are a little wider for gold than other brokers but there are still plenty of commodity trading options with reasonably tight spreads

Pros & Cons

  • Simplistic interface
  • Good range of markets
  • Great regulatory oversight
  • Limited platform functionality
  • Average educational materials
  • Inactivity fees charged

Broker Details

Plus500’s CFD trading platform attracts beginners as it offers a user-friendly experience and guaranteed negative balance as a risk management tool.

Not only is the Plus500 CFD platform easy to use, but it also focuses on providing the essentials so the casual investor will not feel overwhelmed.

The broker is also regulated in three tier-1 jurisdictions and four tier-2 jurisdictions, making it a safe broker for online trading.

Gold and Other CFD Products

Plus 500 offers a solid range of 22 commodities including all the major precious metals, other metals, soft commodities and energy instruments.

Spreads are a little wider for gold than other brokers but there are still plenty of commodity trading options with reasonably tight spreads.

There are also over 2000 financial instruments available with Plus 500, giving a good spread of products to get your teeth stuck into, particularly as a beginner.

All Forex trading is done by way of CFDs, rather than a rolling contract, which, again will suit the novice trader.

plus500 metal products

Trading Accounts (for CFD Forex Trading)

Plus500 is another broker that only offers a Standard account but the CFD provider has spreads for Forex that compare well with their competitors.

The minimum spread for EUR/USD starts at 1.7 pips which is good for a Standard Account. As always, you won’t pay commissions on any commodities you trade, including gold.

The other benefit you get with Plus500 is no minimum deposit.

Plus500 Account Types

Trading Platforms

As mentioned, Plus500 has its in-house trading platform, available on all devices but particularly suited as a web trader or via mobile app.

The mobile app closely mirrors the web trader browser platform, offering a seamless transition between platforms should you wish to trade on the go.

The only downside with Plus500 is the lack of advanced additional trading tools to customise your trading experience. An example of this is the lack of bots you would expect from Trading Automation and social trading features.

plus500 trading platform aus

They do however offer risk management in the form of a guaranteed stop loss/take profit. Unlike some other brokers on this list who only offer negative balance protection to retail clients where required by regulation, Plus500 offer this to all their clients.

9. FP Markets Good Broker For Gold Scalp Trading

FP Markets

Forex Panel Score

80

Average Spread

EUR/USD = 1.1
GBP/USD = 1.3
AUD/USD = 1.3

Trading Platforms

MT4, MT5

Minimum Deposit

$100

Why We Recommend FP Markets

There are several reasons why we like FP Markets, including their commitment to providing unparalleled customer service, a great range of funding options, and their stellar educational resources.

They have a 24/7 customer support line operated by a responsive and knowledgeable team which is further supported with live chat functionality, operated by real people.

Additionally, FP Markets offers a great range of account funding options including Visa, Mastercard, Volt, Skrill, PayPal and more.

We also like their educational resources which include webinars, podcasts, eBooks, and glossaries.

Pros & Cons

  • Exceptional customer service
  • Great educational resources
  • Diverse range of funding options
  • Average spreads and commissions
  • Mediocre trading experience
  • Limited regulatory oversight

Broker Details

In addition to great customer service and educational materials, FP Markets has a decent range of markets to trade and they also have fairly competitive spreads, although they’re not the best in the market.

Markets

FP Markets offers over 63 forex currency pairs, more than 10,000 stocks, and a vast number of indices, crypto, and commodities including gold.

Copy trading

Additionally, FP Markets offers its social trading platform which allows you to copy and automate your trading by mirroring other traders, although it’s important to highlight that this functionality is only available in the UK.

Education

As mentioned, we like the FP Markets’ education offering which offers you learning modules across a wide range of formats. After reviewing their content, we think it is suitable for all levels of traders, regardless of whether you’re a beginner or a seasoned veteran.

Regulation

We gave FP Markets a 6/10 score for trust because they aren’t regulated by many regulators, making them a riskier bet, depending on the jurisdiction you’re trading within. At the time of writing, they are regulated by ASIC and CySEC.

10. City Index Good Trading Tools

City Index

Forex Panel Score

66

Average Spread

EUR/USD = 0.7
GBP/USD = 1.1
AUD/USD = 2.2

Trading Platforms

MT4, TradingView, Web Trader

Minimum Deposit

$0

Why We Recommend City Index

From our analysis, we think City Index is a great forex broker that offers a substantial range of markets, great customer service and support channels, and a decent trading platform.

The City Index trading platform (for web and mobile) comes with useful features like guaranteed stop loss, a trading coach with ‘Performance analytics’ and Smart Signals to help identify when to enter and exit markets.

Pros & Cons

  • Great range of markets
  • Regulated by various entities
  • Comprehensive customer support
  • Uncompetitive spreads
  • Limited funding options
  • High minimum deposits ($150)

Broker Details

City Index is a well-known online trading provider that offers a range of financial instruments, including forex, indices, commodities, shares, and cryptocurrencies.

We particularly like the broker for their extensive range of markets and solid customer service.

Markets

Undoubtedly the single aspect we like most about City Index is their vast range of CFD trading options.

With City Index, you will have access to over 4,600 markets spanning forex, stocks, indices, cryptos, and more. Of course, you will also have access to gold and various other commodities.

Platforms

City Index has its web trader, and the platforms available are fairly limited. Both TradingView and MT4 are integrated with City Index but notably, there is no access to MT5 or cTrader which may be a turn-off, especially if you’re looking to trade stocks.

Spreads

When selecting a broker, it’s important to consider how tight the spreads are.

Ross Collins, our Forex expert at CompareForexBrokers, tested 20 brokers on 5 major currency pairs, finding that City Index averaged 1.24 pips, putting it below the average of 0.44 pips but still higher than market leaders like IC Markets and Pepperstone.