It's a fact that spreads can affect your profitability in trading. Nowadays, there are plenty of brokers offering spread as low as 0 pips for gold trading, What are they?
When the volatility in the market goes higher, the risk of trading will also rise. This causes traders to lose more money which may lead to a margin call. Although gold is a haven asset, it's not without fluctuations. That's why most traders use low-spread brokers for gold trading, just in case.
Low Spread Brokers for Gold Trading, What Are They?
To better understand each broker's spread for gold, check out the comparison in the table below.
| No. | Brokers | Gold Spreads | Commission |
| 1 | 🥇IC Markets | from 0.0 pips (Raw Account) | $3.5 per side |
| 2 | 🥈Exness | from 2 pips (Raw Spread Account) | $3.5 per side |
| 3 | 🥉FXOpen | from 0 pips (ECN Account) | |
| 4 | FXTM | from 0.0 pips (Advantage Account) | $0.40 - $2 based on volume |
| 5 | OctaFX | from 1.8 pips (OctaFX MT4 and MT5 Accounts) | No Commission |
| 6 | Pepperstone | from 0.05 pips (Razor Account) | AUD7 |
| 7 | RoboForex | from 0 pips (Prime and ECN Accounts) | from $10 for a trading volume of $ 1 million |
| 8 | ThinkMarkets | from 0.1 pips (ThinkZero Account) | $3.5 per side |
| 9 | Tickmill | from 0.0 pips (Pro Account) | $2 per side per 100,000 traded |
| 10 | XM | from 0.0 pips (Zero Account) | $3.5 per side |
| 11 | FBS | from 0.0 pips (Zero Account) | $12.90 per lot |
1. IC Markets
IC Markets is an Australian online broker that has been operating since 2007. They claim to offer latency connectivity and superior liquidity. Furthermore, IC Markets offer a spread as low as 0.000 for gold trading. This spread comes with a low commission fee of only $3.5 per side. They ensure clients' safety by monitoring the transfer of confidential and sensitive client information within and outside the company on a need-to-know basis.
Other than gold, IC Markets presents more precious metals as trading instruments so traders can occasionally choose the best asset in the market. They even allow spot trading for Gold or Silver against USD and EUR and Platinum or Palladium against USD. All can be traded with a 1:500 leverage. This broker offer various payment methods, including Fasapay and Qiwi.
IC Markets is an online forex broker operating under the company of International Capital Markets Pty Ltd. Traders under the Australian jurisdiction are provided with the trading service of IC Markets AU that is headquartered in Australia and licensed by the Australian Securities and Investments Commission (ASIC).
On the other hand, non-Australian traders who open an account in this broker are registered under IC Markets SEY that is based in Seychelles, and regulated under the Seychelles Financial Services Authority (SFSA). The dual operation is a result of the relatively new rules from ASIC that prohibit their regulated broker to offer trading services outside Australia.
Classified as an ECN broker, IC Markets provide clients with MetaTrader 4, MetaTrader 5, cTrader as platform trading options. This broker also follows market trends to include Cryptocurrencies as one of its products, enriching its already wide selection of trading assets that include Currencies, Indices, Metals, Energies, Softs, Stocks, as well as Bonds.
The minimum deposit in IC Markets is in the middle range compared to other ASIC-regulated brokers, as it reaches $200 for every client. Market analysis materials are also prepared regularly for trading insights on IC Markets's official website, proving their competence to serve their traders with important contents created by market experts that work specifically for them.
For payment methods, IC Markets allows funding and withdrawal via wire transfer, credit card, PayPal, Skrill, Neteller, FasaPay, UnionPay, as well as Bitcoin via BitPay. The more interesting aspect from this broker is its multi-base currencies that include USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.
As the trading technology in IC Markets is highly equipped with co-located servers and extremely low latency (especially on cTrader), the broker is widely known for its capability in hosting traders with the special needs for high-frequency trading as well as scalping.
To sum up, IC Markets is a fitting destination for active traders looking for a well-regulated broker. IC Markets is also flexible in terms of base currency and payment methods, signaling their commitment to welcome traders beyond their home country. As of late 2019, IC Markets provided their website in 18 international languages including English, Korean, Indonesian, French, Spanish, Italian, Malay, German, and Chinese.
2. Exness
Exness is a low-spread broker that was established in 2008. Since then, they have shown incredible growth. This broker offers different kinds of instruments, ranging from forex pairs, and commodities, to metals, including gold. Exness offers a spread as low as 2 pips for gold trading, which is great for traders looking for a low-spread broker. The trader will be charged a commission fee of only $3.5 per side.
The choice of broker is adjusted to the needs of each trader. If you are a trader who only needs a basic platform and trading features with the best attributes, then Exness can be your best choice.
Exness covers its lack of feature variations with other advantages like low spreads starting from only 0.1 pip. This is very suitable for traders who use scalping strategies (Scalper). Spreads on major pairs in certain account types can also be as low as 0.0 pip, depending on market conditions.
Not only that, but traders can also enjoy other advantages such as automatic fund withdrawals. Exness processes the majority of client withdrawals instantly, without manual checks; however, withdrawals may be subject tos depending on the payment provider or method of choice.
The safety of traders' funds is also guaranteed as Exness is one of the European-based STP/ECN brokers. Exness's ability to become an official partner of the Real Madrid soccer team for 3 years, starting July 2017, also provides evidence that the company has high solidity.
Deposits and withdrawals may be made 24 hours a day, 7 days a week. However, it is important to note that the company shall not be liable fors in processing deposits and withdrawals if suchs are caused by the payment system.
Traders do not need to worry about transaction fees when depositing and withdrawing. Exness doesn't charge any transaction fees to traders even though some charges may be incurred depending on the payment provider of choice. A variety of payment methods are provided for traders, including Wire Transfer, Bank Card, Neteller, Skrill, and many others.
The financial reports and metrics on the Exness website are audited quarterly by Deloitte, one of the four largest public accounting firms globally.
Moreover, Exness is one of the mote transparent brokers in the online trading industry. Traders can find out all information about this company on the website, such as trading volume, number of active clients, client deposits, company funds, and many more.
The platforms provided by Exness vary in MetaTrader 4, MetaTrader 5, Web, and Mobile platforms. This makes it easy for traders when trading on Exness, as they can also access Exness platforms anywhere and anytime.
Over the years, Exness has developed into a broker that attracts traders. Trader's trust is further enhanced by its compliance with financial regulations like the FCA and CySEC.
One measure of client confidence can be put on the trading volume. By December 2018, their clients' monthly trading volume reached USD348.4 billion and active traders around the world surpassed 50,342.
Through the program offered by Exness, traders also have the opportunity to earn extra income by becoming their partners. From the Introducing Broker (IB) program, partners can earn up to 33% spread commission from every new client that registers with them.
Additional income can also be obtained from Exness Partners. Traders can get a spread commission of up to 25% per transaction made by traders who register through an affiliate link.
When trading with Exness, clients can also make use of its free VPS hosting services. A VPS (Virtual Private Server) offers increased reliability and stability for traders as they can maintain their trades and expert advisors without interruption in the event of unexpected technical issues, such as internet or electricity downtime.
From the review above, it can be concluded that Exness is a favorite broker for traders because of low spreads and flexible account types. This condition is very suitable for traders with limited funds but is in need of more opportunities to get maximum profit. This broker is also well known for its maximum support on both new and existing partners.
3. FXOpen
This low-spread broker has been around since 2005 and was created by a group of traders. There are different accounts clients can get in FXOpen, for example, STP, Micro, ECN, and free unlimited demo accounts. They also offer low spreads for forex as well as other instruments. The lowest spread for gold trading in FXOpen starts from 0 pips. But, there is a 15% commission fee in exchange of this low spread.
FXOpen started its operation as an online trading provider for retail clients since 2005. The company was founded by a group of traders with a mission to provide services that refer to the interests of traders. FXOpen claimed to be one of the firsts to offer ECN trading via MetaTrader 4 (MT4). With FXOpen's unique proprietary price aggregating technology, their clients can benefit from the industry's most competitive spreads (from 0 pips) and low trading commissions.
In 2006, FXOpen also became the first broker to offer a micro account and a swap-free account. After that, they continue to be the pioneers of several new and high-tech services, including the first Crypto account that can provide trading facilities on 24 Cryptocurrency pairs such as Bitcoin, Litecoin, and Ethereum.
Furthermore, the company provides One Click Trading and Level 2 MT4 plug-ins, enabling traders to place trades with just one click of the mouse. Traders do not need to worry about trading security at FXOpen. They have registered in Nevis, the UK FCA, and ASIC Australia.
A variety of trading accounts are provided such as STP, Micro, ECN, and free unlimited demo accounts. The minimum deposit for each account depends on the account type; USD1 in Micro Account, USD10 in STP and Crypto Accounts, and USD100 in ECN Accounts. As for leverage, FXOpen offers up to 1:3 (for Crypto Accounts), and up to 1:500 (for Micro, STP, and ECN Accounts).
Besides, traders can enhance their trading capabilities with Myfxbook and Zulutrade automated trading systems. Both of these services allow anyone to copy the transactions of experienced traders. Thus, traders can replicate the results of professional traders' strategies.
The FXOpen PAMM Service allows copying trades from a Master account to one or more than one Follower account and automates the distribution of profits and losses. The Master operates personal capital through a PAMM account, and his trading strategy is replicated to the Follower's capital. The owner of the Follower account can view and analyze the performance of the PAMM account with the help of advanced analytics. There are 3 PAMM accounts in FXOpen, namely STP, ECN, and Crypto PAMM.
On ECN accounts, traders will get direct price quotes from leading liquidity providers, including Dresdner, SG Paris, Standard Chartered, Barclays Capital, Bank of America, CRNX, JP Morgan, Morgan Stanley, Deutsche Bank AG, RBS, CITI, and UBS. This is one of the reasons why FXOpen's ECN account has become a trader favorite.
After seeing the various advantages offered by FXOpen, traders can easily register an account, simply by filling out the form in the registration menu on the FXOpen website. Traders will be asked to verify documents in advance if the trader will make a deposit or withdrawal of funds. Based on traders' experience and information since FXOpen was founded, there have not been any major complaints about payments (depositing or withdrawing funds) from clients.
Once registered with the FXOpen broker, traders also have the opportunity to get other benefits. One example is the FXOpen cashback program for the first 90 days from registration as a new client. The minimum cashback is USD5 and the maximum is USD1,000.
Furthermore, free VPS is available for ECN, STP, and Crypto account holders. Traders can use FXOpen VPS without any fees for 1 month if they can maintain equity of USD5,000 at the end of the month or trade with a trading volume of USD10,000,000 per month. The advantages of VPS on FXOpen are excellent accessibility, flexibility, and speed.
Trading on FXOpen is made easier because traders can add insight into trading by entering contests. FXOpen Broker offers weekly and monthly trading contests on demo accounts through the ForexCup.com site. Traders can join competitions that are free of charge to hone their skills. If a trader wants a bigger challenge, there is also a trading contest on a real account.
The company also offers Forex partnership programs to traders, Forex brokers, and website owners who publish information about fiat and crypto-currency trading. There are 3 types of partnership levels, including Forex IB (Forex Agent) that attracts new clients to FXOpen using a referral (affiliate) link, Forex Rebate, and individual partnership conditions.
In Conclusion, FXOpen is a well-rounded forex brokerage for traders with a desire to try various trading instruments, a trading environment in ECN account, low minimum deposits, the best cryptocurrency trading condition, as well as interesting trading features like PAMM and demo contests.
4. FXTM
FXTM is not only a good low-spread broker, but they also provide quick trading executions for its clients. They have plenty of low-spread accounts available for all kinds of instruments. Gold trading, as well as other commodities, are presented with spreads starting from 0.0 in FXTM. The trader will be charged with a commission fee of $0.40 - $2 based on volume. Regarding the platform, this broker provides reliable service from MT4 and MT5 that supports smartphone and desktop uses.
FXTM was initially launched in 2011 with a unique vision to provide unparalleled superior trading conditions. Opening an account in FXTM would also bring about access to advanced education and sophisticated trading tools in the forex industry.
Now, FXTM is registered under the Financial Conduct Authority of the UK with the number 600475. The company is also regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, and is licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614
FXTM has 1 million registered accounts with more traders joining every day. The company continually tries to improve their performance and have got many awards such as Best Trading Experience 2019 by World Finance Awards, Best Online Forex Trading Company Nigeria 2018 by International Finance Awards, Reputable Investor Education Forex Broker Award 2018 by Hexun.com, Forex Brand Of The Year China 2018 by Fxeye.Com, and many more.
As a responsible broker, they determine leverage (expressed as a ratio of transaction size relative to trader's buying power) according to the trader's level of knowledge and experience in trading, which is evaluated by the Appropriateness Assessment. The company also enables trading with leverage up to 1:1000.
As for spreads, FXTM offers low spreads starting from 0.1 pip, so traders can withdraw profits at the start of trading. The company, which has headquarters in several countries, uses No Dealing Desk (NDD) technology and partners with credible liquidity providers to provide the best bid and ask prices.
For beginners, there is an automatic trading facility called algorithmic trading provided. When trading in FXTM, traders can develop their trading strategy or adopt other traders' strategies. Furthermore, the strategy is applied to automated trading systems, such as Expert Advisors. The purpose of this system is traders do not have to worry about losing opportunities while not observing the market so that profits can still be earned.
Three types of ECN accounts use the MT4 and MT5 trading platforms. There are also mobile and Tablet Apps trading platforms. Aside of providing many account variants, FXTM goes above and beyond to ensure that their client receives excellent support that they deserve, making their trading experience optimal and user-friendly.
FXTM also provides a diverse range of products. In addition to over 50 currency pairs, they provide gold, silver, CFD on commodity futures (oil), CFD on ETFs, and indices.
Education about the basic concepts of the forex industry is also accessible in this broker. Traders can read all the concepts provided in the form of e-books, video tutorials, articles, webinars, and forex seminars. There are 17 languages provided on the FXTM website to make it easier for traders to learn about forex.
Traders are also given various choices for payment methods, including Credit Cards (Visa, Mastercard, Maestro) and E-Wallet (Neteller, Skrill, Western Union). For withdrawing funds, traders are not charged a fee with a length of 2 hours to 2 days. Traders can live chat to ask further questions and contact the admin via email. There is also a question and answer page about forex trading on FXTM.
5. OctaFX
OctaFX has been operating since ten years ago, during which they have achieved a lot of awards. This broker offers access to different markets such as CFD, commodities, indices, etc. Their platforms are available on many devices, such as desktops, Android, iOS, and web browsers. As one of the best low spread brokers, OctaFX offers spread starts from 1.8 for gold trading. While the spread isn't the lowest, this broker offer No Commission fee policy for gold traders.
Octa is one of the most famous brokers in the world and has won many awards for its very comfortable trading atmosphere and proximity with customers. Octa was founded in 2011 with headquarters in Strovolou 47, Kyros Tower, Nicosia.
Prestigious awards that have been received by Octa include the Best ECN/STP 2019 and the 2019 Best Broker in Asia given by FX Daily Info. The Global Banking and Finance Review magazine also gave the Best Broker award in Asia in 2018 to this broker. More than that, there were also awards from European CEO Magazine (Best FX Broker 2018 and Best Trading Conditions).
For traders in most countries, Octa is under the authority of Octa Markets Incorporated and is registered in Saint Vincent and the Grenadines. This broker also provides various facilities, such as providing support services by live chat and WhatsApp in Indonesian. Not only that, deposits and withdrawals of funds can be done through various local banks. Octa does not charge commissions for every deposit and withdrawal of funds made by traders.
Octa offers different types of accounts that are carried out with market execution (STP/ ECN) and floating spreads from 0.2 pips. A variety of forex strategies, ranging from Scalping, Hedging, and the use of Expert Advisors are permitted in all accounts at Octa brokers.
There is also a fixed exchange rate offer when opening a Micro MT4 account. All deposits made in IDR will be calculated at the rate of USD1 = Rp10,000 and will be entered into the trader's account balance. Also, Swap-free accounts are available for Muslim traders who want to avoid overnight interest.
Trading in Octa is also suitable for novice traders. Because Octa offers low spreads, which are floating starting from 0.0 pips. The required initial deposit is also low, only USD25. The currencies used on the account are US Dollars and Euros.
Octa gives a bonus of 50% each time a trader makes a deposit. That way, the capital gained by the trader becomes bigger. Opportunities to open positions increased and deposit bonuses can be withdrawn on the terms and conditions.
If traders are still confused about calculating profits, the Octa platform provides a trading calculator for each account type. Traders only need to enter the currency pair being traded, the amount of leverage, the number of lots, and the type of currency used in the account.
Opportunities to get profits are also getting bigger with the Autochartist feature. Traders will get notifications quickly when there is a profit signal in trading. The accuracy of the trend prediction reaches 83%.
Traders do not need to worry about the safety of funds at this broker. Octa uses segregated accounts and protects personal data and online financial transactions with SSL technology. This is adjusted to the international accounting standards and regulations.
Another advantage offered by Octa is the Trade & Win program. Opening an account in Octa would open the opportunity to collect trading lots, which can be accumulated into a variety of attractive prizes. Traders only need to open a real account on MetaTrader4 or MetaTrader5 through Octa and simply exchange the prize lot in this promotion. Prizes that can be obtained by traders include T-shirts, Android Smartwatches, smartphones, and laptops.
Traders need not worry about missing out on promotions. Because Octa often bonuses and other promotions. This broker holds a trading contest every week on a demo account with real prize funds that can be used for trading.
One example of a prize contest is Octa Champion - MT4 Demo Contest. With a total prize of USD 1,000, there are places for 4 winners in each contest period.
6. Pepperstone
Pepperstone was founded in 2010 by a group of experienced traders with a commitment to improving the world of online trading. Pepperstone has one of the best spreads for gold trading. Their spread starts from 0.05 with a commission fee of AUD7, which is why they are considered as one of the best low-spread brokers out there. In addition, this broker comes with a strongly regulated environment as ASIC and FCA regulate it.
Pepperstone was founded in 2010 by a team of experienced traders with a shared commitment to improve the world of online trading. Based in Melbourne, Australia, they grew to become one of the largest forex brokers in the world. If traders want to find a broker that provides low spreads, fast execution, and award-winning support, then the answer is Pepperstone.
Pepperstone has a strong legality guarantee because it has been licensed by the Australian regulator ASIC and FCA. Traders' funds can be deposited in segregated accounts at top Australian banks, one of which is the National Australia Bank (NAB). Therefore, the safety of funds is not a concern if a trader chooses to open an account in Pepperstone.
They succeeded in collaborating with 23 top banks to bring Bid to investors instantly via optical fiber. This allows all orders to be executed 100 percent automatically with low latency up to 0.05 milliseconds, without dealing desk intervention and requotes, as well as with super low trading costs.
Trusted by over 73,000 traders around the world, Pepperstone processes an average of USD12.55 billion of trading volumes every day. Because of that, they have many awards such as:
- The Best Global Forex ECN Broker 2019 and Best Forex Trading Support-Europe
- Best Australian Broker and Best Trading Platform 2018 by Compareforexbrokers.com
- Best Forex ECN Broker, Best Forex Trading Support, and Best Forex Trading Conditions by UK Forex Awards 2018
With the many rewards gained, Pepperstone hopes to attract more and more traders from all over the world. The rising performance of Pepperstone is not only due to the super-tight spreads and fast execution that it provides, but also because many traders are interested in trading with deposits in currencies other than US Dollars.
For this reason, Pepperstone is one of the most market-responsive brokers because it is willing to accept deposits in 10 currencies, which include AUD, USD, EUR, CAD, GBP, CHF, JPY, NZD, SGD, and HKD.
Trading in Pepperstone would allow traders to choose between 11 trading platforms: MT4 for desktop, MT4 Mac, MT4 iPhone, MT4 Android, MT4 iPad/Tablet, MT5, WebTrader, cTrader WebTrader, cTrader cAlgo, and cTrader Mobile. The choice of trading platforms may seem confusing to novice traders, but actually, it is very useful because it has fast execution.
When trading forex, traders can enjoy raw spreads from 0.0 pips on Razor accounts, over 61 currency pairs, and commission-free account funding on a wide range of deposit options. In addition to currency pairs, Pepperstone provides many types of trading instruments, including CFDs for indices and shares, commodities, and cryptocurrencies.
Instruments in commodity trading are pretty much diversified. Not only metal, gold, and silver, but traders can also trade with soft commodities such as cotton, sugar, coffee, cocoa, and orange juice. Pepperstone also provides trading on energy (oil and gas).
There are two types of accounts provided by Pepperstone, namely Razor accounts, and Standard accounts. If you area beginner, it is recommended to choose a Standard account with an average EUR/USD spread of 1.0-1.3 pips and free commission.
Those with particular trading styles such as scalpers and algorithmic traders may enjoy the lower cost setup traditionally seen in a Razor account, with a commission from AUD7 round turn of 100k traded. You can start trading with a minimum lot of 0.01 (micro) and 1:400 leverage.
As a Pepperstone client, a trader can fund and withdraw with alternative methods including Visa, Mastercard, POLi internet banking, bank transfer, BPay, PayPal, Neteller, Skrill, and Union Pay.
If you are new to trading or looking to practice your trading strategies in a risk-free environment, you can create Demo Account in Pepperstone. But if you are an experienced trader or prefer to learn by doing, Pepperstone provides a Live Account that allows you to trade with live executions and pricing.
Traders can also follow and copy strategies from popular traders using third-party services while learning how to improve their trading abilities. Pepperstone has partnered with a range of social trading platforms that traders can choose from, such as Myfxbook, ZuluTrade, Mirror Trader, MetaTrader signals, and Duplitrade.
7. RoboForex
This broker was established in 2009 and has been regulated by IFSC Belize. RoboForex deserves to be on the list of best low-spread brokers as they offer many accounts with the tightest spread. For example, trading gold with RoboForex can start from 0 pips spread. But, there will be a commission fee of $10 for a trading volume of $ 1 million. They also have different trading instruments, such as forex, stocks, indices, ETFs, commodities, metals, and energies. Deposit can be transferred from various methods, including Bitcoin and WebMoney.
Well-known as one of the most committed brokers in trading technology advancements, RoboForex reaches out to a wide range of traders, from beginners to the more experienced ones who seek sophisticated trading environments with ECN-like spread and execution. The company is established in 2009 and holds a head office in Belize. Registered under the IFSC Belize, RoboForex manages to attract clients with fantastic leverage as high as 1:2000.
Following its commitment to be the forefront in terms of a high technology forex broker, RoboForex provides various trading platform choices including MetaTrader 4, MetaTrader 5, Social Platform, and its proprietary platform.
Trading instruments range from Currencies to Metals, Indices, Energies, Stocks, and ETFs. Aside from basic service, trading in RoboForex also presents a collection of distinctive features such as the PAMM system and Social Trading network developed with their own brand of CopyFX, ETFs, and stocks that reaches up to thousands as the available trading assets, and tight spreads.
RoboForex also accepts payment through a surprising online gateway besides wire transfer and credit card. The alternative methods are Skrill, Neteller, UnionPay, Perfect Money, and other similar online payments.
After opening an account, traders can start with a minimum deposit as low as $10 in Pro Accounts. To specify, here is a short description of each type of accounts that traders can choose from in RoboForex:
Pro-Standard
- Minimum Deposit: $10
- Spread: from 1.3 points
- Minimum order volume: 0.01
- Leverage: up to 1:2000
ECN-Pro
- Minimum Deposit: $10
- Spread: from 0 points
- Minimum order volume: 0.01
- Leverage: up to 1:300
Prime
- Minimum Deposit: $5,000
- Spread: from 0 points
- Minimum order volume: 0.01
- Leverage: up to 1:100
Pro-Cent
- Minimum Deposit: $10
- Spread: from 1.3 points
- Minimum order volume: 0.1
- Leverage: up to 1:2000
R Trader
- Minimum Deposit: $100
- Spread: from $0.01
- Minimum order volume: 1 stock
- Leverage: up to 1:200 (during the trading session) and up to 1:4 (after the trading session)
The R Trader account signifies RoboForex's attempt to distinguish forex and stock trading condition. It appears that the platform used in that particular account is RoboForex's in-house product that is specifically designed for stock online trading.
The overall description above depicts RoboForex as a distinguished broker despite its status as an offshore-regulated entity. Not only successful in providing various trading technology, but RoboForex also focuses on stock trading for more conservative traders. However, it is also important to note that RoboForex is one of the few brokers that boldly offer an extremely high perimeter of leverage at 1:2000.
8. ThinkMarkets
Established in 2010, ThinkMarkets is known as a premium multi-asset brokerage and a good low-spread broker for many instruments. Gold trading with ThinkMarkets starts from a 0.1 pip spread. The commission fee for this broker is quite affordable, with only $3.5 per side. ThinkMarkets is authorized by the FCA as well as ASIC.
As a multi-asset online brokerage, ThinkMarkets present a wide range of trading assets starting from Forex to Precious Metals, Commodities, Indices, Shares, and Cryptocurrencies. The Australian-based broker is established in 2010 and has since opened additional headquarters in London and regional offices throughout Asia-Pacific, Middle East, North Africa, Europe, and South America.
Along with its history operation, ThinkMarkets has been awarded and recognized many times in various aspects. Most recently, they won the Best Value Broker in Asia at the 2020 Global Forex Awards.
Average FX spreads for traders opening an account in ThinkMarkets start from 1.2 pips for the standard account, while ThinkZero provides the best trading experience with 0.1 pips spread. Still, traders may need to consider that ThinkZero applies commission from $3.5 per side for every 1000,000 trading volumes.
As a global online brokerage, ThinkMarkets operates under various financial regulatory institutions. For example, ThinkMarkets Australia is managed by TF Global Markets (Aust) Limited and is licensed by the Australian Financial Services as well as the Australian Securities and Investment Commission (ASIC) with ABN: 69158361561. ThinkMarkets UK is registered under the Financial Conduct Authority (FCA) by the company name of TF Global Markets (UK) Limited (number: 09042646).
ThinkMarkets consistently try to improve their trading environments with various advanced products. Automatic trading fans are provided with free VPS Hosting, while passionate traders who'd like to experience beyond MetaQuote platforms can try ThinkMarkets' proprietary platform called ThinkTrader.
The trading platform is available on 3 different interfaces specifically designed for Web Desktop, Tablet, and Mobile displays. Furthermore, customized tools such as 80+ drawing tools and more than 125 indicators for technical analysis accessible even through Mobile screens would certainly provide a brand new trading on-the-go experience.
As far as market updates go, trading in ThinkMarkets would be accompanied with news from FX Wire Pro that is known for its strict policy toward upholding objective journalism and delivering critical, trusted information in real-time. Information segments covered by FX Wire Pro include Economic Commentary, Technical-level Reports, Currency and Commodities, Central Bank Bulletins, Energies and metals, together with Event-driven Flashes.
For payment methods, ThinkMarkets offer the gateway via bank transfer, credit card (Visa and MasterCard), Skrill, Neteller, POLi internet banking, BPay, and Bitcoin wallet.
All in all, it is safe to say that for a company that started business since 2010, ThinkMarkets is an accomplished broker in terms of legal standing and innovation in trading technology. As an additional safety assurance for traders, this broker underlines its commitment to provide a $1 million insurance protection program which is made possible by ThinkMarkets' insurance policy with Lloyd's of London that protects clients' funds for up to $1 million in the unlikely event of insolvency.
9. Tickmill
Tickmill offers spreads as low as 0.2 for gold trading, making it one of the best low-spread brokers in the market. Tickmill charged a commission fee of $2 per side per 100,000 traded. This broker allows various strategies, including EA, hedging, and scalping. There are plenty of instruments to trade with Tickmill, such as forex, metals, crypto, etc. To support their clients, Tickmill uses MT4 and MT5 as trading platforms.
Tickmill is an award-winning global ECN broker, authorized and regulated by the Financial Conduct Authority (FCA) in the UK, CySEC in Cyprus, and the FSA of Seychelles. Founded in 2014, it offers its retail and institutional clients various trading services with a prime focus on forex, stock, commodities, CFDs, and metals.
For traders who prioritize the value of spreads in broker selection, Tickmill provides excellent services with low spreads, starting from 0.0 pips.
The London-based company has a mission to provide clients with the best possible trading environment, so clients can focus on trading and become successful traders. One way to reach its mission is to offer a fast-execution of 0.15s. With this facility, it's no wonder that Tickmill gets the 2019 Best Forex Execution Broker award by the CFI.co Awards. Also, Tickmill received the achievement as Best CFD Broker Asia 2019 by International Business Magazine, the Best Forex Broker Asia, and the Most Transparent Broker 2019 by Forex Awards.
After registering in Tickmill, traders can choose the most ideal asset among 60 currency pairs that they can trade. If traders aren't sure yet to open a real account, Tickmill recommends learning to trade through a demo account.
There are also educational features such as Webinars, Seminars, Ebooks, and Video Tutorials. All of these facilities can be used by traders to increase knowledge about trading and the financial market as a whole. If traders already have enough knowledge, they have a greater opportunity for earning profit consistently.
For traders registered in real accounts, they can choose between provides three types of accounts, including Pro Account, Classic Account, and VIP Account. Traders can open positions with a minimum order of 0.01 Lots. This applies to all types of accounts.
The company provides recommendations for traders who are still confused when choosing an account. For example, for novice traders, Tickmill encourages clients to choose a Classic Account. It offers optimal conditions with fast order execution while enabling traders to use virtually any trading strategy. Additionally, the account is trade commission-free so traders only pay the bid/ask spread. Other than the 3 main accounts above, Tickmill also provides an Islamic account (swap-free).
The downside is, trading with Tickmill will only enable traders to use MetaTrader 4 as their offered trading platform. Although not much if compared to other brokers, the Tickmill platform provides a user-friendly and highly customizable interface, accompanied by sophisticated order management tools to help traders control positions quickly and efficiently.
The convenience of trading on Tickmill is enhanced by the existence of One-Click EA integrated on MT4. Traders will get Stop Loss and Take Profit calculations automatically. On top of that, Tickmill provides a VPS hosting for automated traders that can't be bothered with technical problems such as troublesome internet connection.
They offer several third-party research solutions, including Autochartist, which is a popular pattern-recognition software that uses automated technical analysis to make forecasts and generate trading signals. Autochartist is available both in Tickmill's web portal and as a platform plugin for MetaTrader 4.
As a Tickmill client, a trader can deposit and withdraw with a variety of payment methods, including Visa, Mastercard, bank transfer, and Skrill. Tickmill accepts deposits and withdrawals in 4 currencies, which include USD, EUR, GBP, and PLN.
Overall, Tickmill is a competitive broker in spreads and provides a safe trading environment with its regulated entities in three different jurisdictions. Although their trading platform is not outstanding, the analytical tools they present to equip traders' needs are considered by retail broker standards.
10. XM
XM broker was founded in 2009 and has now grown to be one of the best low-spread brokers in the market. Right now, XM has over 5,000,000 clients all over the world. They offer all kinds of accounts for all types of traders. XM takes pride in offering the best price for their clients, including gold trading that starts from 0.2 pips spread. With commission fees of only $3.5 per side, XM has one of the best trading cost for gold trader.
XM Group is a group of regulated brokers and it is owned by Trading Point Holdings Ltd. Entities under XM Group have significant experience as financial services providers worldwide.
Trading Point of Financial Instruments Ltd was established in 2009 with headquarters in Limassol, Cyprus, Trading Point of Financial Instruments Pty Ltd was established in 2015 with headquarters in Sydney, Australia, XM Global Limited was established in 2017 with headquarters in Belize and Trading Point MENA Limited was established in 2019 with headquarters in Dubai.
XM Group is regulated by the CySEC (Cyprus Securities and Exchange Commission) - Trading Point of Financial Instruments Ltd, FSC (Financial Services Commission) – XM Global Limited, the ASIC (Australian Securities and Investments Commission) - Trading Point of Financial Instruments Pty Ltd and DFSA (Dubai Financial Services Authority) - Trading Point MENA Limited.
XM is one of the more experienced brokers in the world of online forex trading today. Since its founding, the broker has experienced a lot of changes, including the addition of the Ultra-Low Account and EN Live Edu that is instructed by 16 global experts.
In terms of trading instruments, XM is a well-known diverse class assets provider, varying from Forex, Crypto, Stock CFDs, Turbo Stocks, Commodities, Equity Indices, Precious Metals, Energies, & Shares. XM prides itself to be the ideal broker in trading execution, offering a stat of 99.35% orders to be executed in less than 1 second. Trading in XM would be also provided with a strict no requotes policy, no virtual dealer plug-in, no rejection of orders, real-time market execution, and the choice for traders to place orders online or by phone.
Spreads on all majors can reach as low as 0.6 pips in Ultra-Low Account, while spreads on other accounts usually start from 1 pip.
To protect the client's fund in the event of extreme volatility, XM presents each account type with Negative Balance Protection. Minimum deposit of $5 applies to Standard, Micro, and also Ultra-Low Accounts. Traders who open accounts in XM are enabled a condition similar to a Cent Account environment in the Micro Account, in which the Contract Size for every lot is only 1,000 units. If it is applied with the smallest lot size in the MetaTrader platform which amounts to 0.01, it means that traders can go as small as 10 units per trade.
For the deposit, XM applies zero-fee deposits in most of its available payment methods. Traders can choose to fund or withdraw their accounts via wire transfer, credit card, as well as the most favorable e-payment choices like Skrill, Neteller, and FasaPay.
To give their clients the best experiment in trading, XM has given access to both MT4 and MT5 platforms, each is available for more than 6 display formats (PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android, and Android Tablet).
All in all, there is no doubt that XM has gone global with its deep commitment to providing services in more than 30 different languages across the world. Aside from easing traders' experience with mainstream trading platforms and high-quality trading execution, XM is open to various types of traders, from small capital traders to the more experienced ones with big deposits at the ready. Traders are even provided with a Cent Trading environment should they choose to register under Micro Account.
For their global approach, XM has ensured that traders from various countries could access their service easily. This results in the provision of different domains specified for traders in certain jurisdictions. For example, traders from Indonesia could access XM via this link.
11. FBS
FBS offers some of the lowest spreads for gold trading, with the XAUUSD pair starting at just 2 pips on the Standard account. This competitive pricing sets FBS apart from many other brokers, where spreads for the same pair can often be three pips or more. While these spreads are floating and subject to change based on market conditions, FBS also provides a Zero spread account option, guaranteeing a fixed spread of 0 pips for the XAUUSD pair, ensuring minimal trading costs even during periods of high volatility.
FBS also offers several other advantages for gold trading. These include tight spreads across various account types, generous leverage of up to 1:500, competitive margin requirements that allow you to open positions with smaller deposits, and access to the popular MetaTrader 4 and MetaTrader 5 trading platforms. FBS charges a commission of $6.45 per lot for trading XAUUSD on the Standard account, $0.04 for the Cent Account, and $12.90 for the Zero Spread account. This is a flat commission, which does not change depending on the trade size.
Since 2009, the action of FBS Holding Inc. or known as FBS in the world of forex trading has been recognized by various international institutions. With clients reaching 14 million as of 2019, FBS has received the title of Most Transparent Forex Broker 2018, Best Investor Education 2017, Best Customer Service Broker Asia 2016, IB FX Program, and many others.
FBS is regulated by FSC Belize and CySEC Cyprus. This broker has been trusted by millions of traders and 370 thousand partners from various countries. Based on their data, FBS garners about 7,000 new traders and partner accounts every day. And, 80% of the clients stay in the FBS for a long time. No wonder the broker is growing rapidly due to the incredible growth in the number of clients.
Trading products offered by FBS range from forex, CFD, precious metal, and stock. For forex trading, CySEC-regulated FBS offers leverage up to 1:30 on Cent and Standard Accounts. Clients who want to try higher leverage than that can alternatively register an account under FBS Belize.
FBS spread begins from 0.5 pips for Pro account type and from 0.7 pips for Standard and Cent accounts. On a standard account, volume orders can be made from 0.01 to 500 lots. Therefore, this account is recommended for experienced traders.
Whereas on Cent Accounts, volume orders can be carried out with a maximum of 500 cent lots or the equivalent of 5 standard lots. Cent Accounts involve a different level of risk. FBS recommends Cent Accounts for beginner traders. All account types support the following trading instruments: 36 Forex pairs, 8 metals, 3 energies, 11 indices, 127 stocks, 5 crypto pairs.
Before plunging into the real forex market, traders can practice with FBS Demo Account which consists of two types, i.e Standard and Cent.
FBS uses the MetaTrader 4 and MetaTrader 5 platforms. They offer them on Windows and Mac as well as Android and iOS mobile. These platforms provide a trading experience at traders' fingertips, allowing traders to progress as a trader anywhere at any time.
MetaTrader platforms also have a variety of mainstay features, including the possibility to create, buy, and use expert advisors (EA) and scripts, One-click trading and embedded news, technical analysis tools, the possibility to copy deals from other traders, hedging positions, and VPS service support.
Another advantage provided by FBS is a deposit bonus of 100% for clients who fulfill certain requirements. The process of FSCing and withdrawing funds can be run easily and quickly. Based on clients' testimonies, each process usually takes no more than 3-4 hours, except on holidays.
Traders also have the opportunity to develop a side business when trading with FBS, namely as an Introducing Broker (IB) or Affiliate. The FBS partnership system provides partner commissions that are already in 3 level positions. Only by introducing new clients to FBS according to certain procedures, traders can earn extra income.
Traders will also get trading education experience at FBS. They have prepared a comprehensive forex course. The course consists of 4 levels: beginner, elementary, intermediate, and experienced. Traders can take courses that will turn them from newbies to professionals. All materials are well-structured. Besides, FBS provides various forex analyzes, webinars, forex news, and daily market analysis that can be accessed easily on their site.
Traders can access the FBS website with many language choices. Of course, this will increasingly provide comfort for traders. Available languages include English, Italian, French, Portuguese, Indonesian, Spanish, and others. Live chat support is also provided 24 hours 7 days a week.
In conclusion, FBS is a widely known broker among retail traders around the world. It continually grows to become a preferred broker because of flexible trading conditions that enable its clients to trade with various instruments, low deposit, and other trading advantages.
Advantages and Disadvantages of Gold Trading
Some factors make gold trading in CFD brokers better than investing in actual gold. With such trading, there is no physical gold involved during transactions. The gold being traded is virtual, so every time this instrument is traded, it doesn't require a saving box or insurance. On the other hand, gold trading can still bring profit by speculating on the market price differences during the trade.
That being said, there is some inconvenience with gold trading. Normally, there will be margin and leverage involved. Traders should be careful with the risk and apply sound risk management to keep their money safe from volatility risks. More importantly, it is also imperative to understand the basic characteristics of gold before even looking for the best brokers with low spreads for gold trading.
For more tips about gold trading, check out these articles below:
23 Comments
Oct 25 2021
According to their spec and feature, I think FXOpen suits more for me.
Btw, anyone has ever traded on this broker?
Nov 11 2021
Yeah, that's right. Choose the forex broker that the most suits your need. Several months ago, I have tried trading on FXOpen, overall is good, especially their features. In short, here are several benefits when you decide to trade on FXOpen;
Dec 28 2021
Grealish: I'm not sure which is the best but most brokers offer gold on their platforms. Just make sure you check out the fees and spreads before you commit. Personally, I use IC Markets as I also trade plenty of crypto CFDs and forex. I've found them to be great and they tick all my boxes.
Apr 22 2022
Grealish: FXOpen is good, but there are other better brokers.
Mar 2 2023
Nicholas: I think about the best brokers to offer not only gold but other derivatif asset such as gold is back to the trader's view since it is really depends on the experience that traders get. AND, because of that, what may be the best broker for one trader may not be the same for another.
You can only know about the brokers good or not is based on several factors that traders including regulations, trading platforms, customer service, fees, spreads, and more. It's important to do your own research and the most important is to read reviews from reputable sources to determine which broker aligns with your trading goals and preferences. Ultimately, the best broker for you is one that you trust and feel comfortable with, and that can provide you with the tools and resources you need to succeed in trading.
Jan 3 2022
Is gold good for scalping?
Jan 5 2022
Nora: In my view. Scalping in gold is such a nice thing but if u master swings u can get big profits this trade is bullish from that black circle and it never made a bearish reversal but retracements it is still bullish.
Feb 7 2023
Nora:
Gold can be traded for scalping, but it is not necessarily the best instrument for scalping due to its tendency to have low volatility and limited price movement. Scalping involves making multiple trades in a short period of time and requires a market with significant price movement to generate profits.
Other financial instruments such as currency pairs or index futures may be better suited for scalping due to their higher liquidity and more volatile price movements.
It's important to keep in mind that scalping is a high-risk trading strategy and requires a deep understanding of market dynamics and sound risk management practices.
However, in another side of the coin...
There is no one-size-fits-all answer to what the best trading instrument for scalping is, as the choice depends on a trader's individual trading style and strategy. However, some popular instruments that are commonly used for scalping include:
Forex currency pairs: Forex markets offer high liquidity and volatility, making them ideal for scalping.
Index futures: Index futures, such as those for the S&P 500 or NASDAQ, can offer fast price movements and tight spreads, making them suitable for scalping.
Cryptocurrencies: Cryptocurrencies, such as Bitcoin, can exhibit high volatility, which makes them attractive for scalpers.
Ultimately, the choice of trading instrument will depend on the trader's risk tolerance, capital, and overall trading strategy. It's important to thoroughly research and understand the market dynamics and risk involved before engaging in scalping.
Apr 11 2022
Are there any brokers that offers gold trading with zero spread?
Apr 12 2022
Andini Kciev: Tickmill offers 0.0 spread for trading gold. There's literally the explanation above. But I heard that 0.0 spread is almost impossible. There must be a huge commission for replacement later.
Apr 13 2022
Why is the value of gold often stated that it will not be affected by the current economic conditions?
Apr 14 2022
Harraz: Because its supply is limited and it is a tangible commodity, its value tends to hold during periods of high inflation.
Mar 2 2023
Harraz: Basically, this is because gold is a physical commodity that has been highly valued for centuries. Unlike paper money, which can be printed at will by governments, gold is a finite resource that is difficult and expensive to mine. This means that the supply of gold is relatively stable, which can make it a good store of value during times of economic uncertainty.
In addition, gold has historically been seen as a safe haven asset that investors can turn to in times of crisis. This is because gold is not tied to any one country's economy or currency, so it can provide a hedge against inflation and other economic risks. So, even though the value of gold can fluctuate in the short term, many people see it as a relatively stable long-term investment.
Apr 18 2022
Is trading gold on EXNESS really as good as people say?
Apr 21 2022
William: It's so so. Not really good, but not bad either.
Mar 2 2023
William: I think Exness offered suitable condition to trading gold. And not only gold, the other precious metal such as silver, platinum and palladium also offered in there. And what makes me little bit say the Exness is better than other trader is the gold can be traded with other currencies such as AUD, GBP, and EUR. Meanwhile the average spread in points consists of 55 points for Standard Cent, 3.2 points for Standard, 54 points for Pro, 30.2 points for Zero, and 39.4 points in the Raw Spread account.
The average spread is the spread that you mostly can get, it is different with minimum spread that usual broker said about. the spread itself is variable spread, makes you cannot predict the spread that you will get, is it higher or constant with the minimum spread. And meanwhile the minimum spread at Exness is start from zero spread.
Other metal you can read more in here : Why Exness Is The Best Broker to Trade Precious Metal?
Apr 19 2022
From the broker's perspective, what are the advantages of the broker when they provides a small spread?
Jan 24 2023
Ekshan : What do you mean by small spread, dude? Because there are many spreads offered by the broker. And if you ask about the advantage of provides small spread, there is no advantage at all as it can reduce his profits. As you know, spread is one of the tools that brokers use to make profits from their traders.
So, to fix this cut profit because the offer small spread, they will charge a higher commission. So, whenever you encounter brokers, see the commissions and spreads, you will find that if you choose a small spread, your commission will be higher, and vice versa, if you choose a high spread (in this case, a fixed spread always has a higher spread), you may receive a small commission.
It's win win solution, right?
Mar 2 2023
Sandy: I agree with you! Actually when brokers offer tight spreads, traders can execute their trades with minimal costs and potentially increase their profits. This is especially true for those who frequently engage in scalping or day trading strategies. With low spreads, traders can enter and exit trades more efficiently, reducing the impact of transaction costs on their overall profits. Plus, small spreads can attract more traders to the broker, boosting their business and reputation in the market. I also agree with you, small spread can be a win-win situation for both traders and brokers, making it a popular feature in the forex industry.
Jan 24 2023
Ok, I see that forex trading and gold trading are not very different, you see the trading mechanism, like using broker, leverage, spread. About the commission, I did not see in the article say so. Can anyone tell me if there is any spread on gold.
The main question is whether trading gold is more profitable than Forex. I have seen many ads about the gold scale. they said in the ad that the gold market itself is more volatile and it can scale anytime and every day for 5 business days.
The next question is can we get an electronic certificate of ownership of the gold we trade? As the article said, we do not involve gold in the transaction.
Mar 2 2023
Erick: No! you won't get an electronic certificate of ownership for a gold CFD you trade. This is because a CFD is a derivative financial instrument that represents the price movements of an underlying asset, in this case, gold. When you trade a gold CFD, you are not actually buying or owning physical gold, but rather speculating on the price movements of gold.
Therefore, the broker does not issue a certificate of ownership for a gold CFD. Instead, you are provided with a contract that specifies the details of the CFD, including the size of the trade, the opening and closing prices, and the profit or loss you have made on the trade.
Jan 21 2024
The information mentions a leverage of up to 1:500, along with competitive margin requirements for opening positions with smaller deposits. Additionally, it highlights access to the MetaTrader 4 and MetaTrader 5 trading platforms provided by FBS. I find FBS intriguing due to its competitiveness, low deposit offerings, and the convenience it provides for beginners to trade with lower risk.
I'm curious about the leverage specifically in gold trading. Is a leverage of 1:500 considered high or low? I recall seeing an FBS advertisement mentioning leverage as high as 1:3000. Could you clarify this for me?
Jan 26 2024
Hey! The information notes a leverage of up to 1:500 provided by FBS, which is considered relatively high. Leverage represents the ratio of borrowed funds to the trader's own capital, allowing for the control of larger positions with a smaller amount of capital.
In gold trading, a leverage of 1:500 implies that for every unit of your capital, you can control a position size up to 500 times that amount. This amplifies both potential profits and risks. (read : Is It Safe to Trade with 1:500 Leverage? )
Regarding the mention of 1:3000 leverage in an FBS advertisement, it's crucial to approach such high leverage levels with caution. While they may offer the potential for increased profits, they also significantly amplify the risk of substantial losses. Trading with high leverage requires a thorough understanding of risk management, especially in volatile markets like gold.