The top 5 best forex brokers with low gold commissions are AvaTrade, BDSwiss, easyMarkets, Rakuten, and Tickmill.
Commission fees are part of trading costs that are easily missed due to the heavy attention placed on spreads. This negligence often results in fatal losses, particularly for active gold traders who fail to accumulate sufficient profits to offset commission fees charged by their brokers (note that commission fees on gold trading are typically higher than major forex pairs). As such, it is important for traders to look for forex brokers with low gold commissions.
Here we review the top 5 best forex brokers with low gold commissions:
How can they impose a low gold commission? Do they offset trading costs with an expensive gold spread? Let's dig into the details below.
AvaTrade
- Gold commission: 0
- Gold spreads: 0.3 pips
Ireland-based AvaTrade charges zero commission fees, because trading costs are integrated into the spread. Even so, gold spreads are quite economical at around 0.3 pips on both Standard and Pro accounts (spreads may widen during certain trading hours). Learn more on AvaTrade website.
Avatrade can be called one of the most well-rounded brokers that support almost all trading styles. Not only allowing hedging, scalping, and expert advisor (EA), Avatrade also completes their service with One-cancels-the-other order (OCO) and AutoTrading in many variants of automated trading systems.
AvaTrade was founded in 2006, with the primary mission to empower people to trade with confidence. If traders are still confused about what is the best broker for supporting trader's trading, AvaTrade perchance option of traders, because it has been evaluated and honored for some of the industry's most remarkable financial and technological achievements that it provided to clients.
In 2019, the Dublin-based broker got achievement from Daytrading.com as The Best Forex Broker 2019. Besides, the company is honored as Best Forex Broker, Best Bitcoin CFD Trading Provider of the year, and Best Affiliation Programme in the European area.
Furthermore, for traders who have high mobility, AvaTrade provides many platforms that allow traders to trade using laptops and mobile phones. The availability of the free Autochartist tool in the platforms is the best support for both novice and experienced traders because it makes it easier for them to find trading opportunities without the need to glance at charts all day.
The Autochartist free signal is provided in Gold Account, Platinum Account, and AVA Select. By opening an account in AvaTrade, traders don't have to pay for getting a full Autochartist service. Autochartist itself is a market scanner tool that can detect trading signals from various technical perspectives.
Traders can access AvaTrade in many variants of platforms, such as AvaTradeGO, MetaTrader 4, MetaTrader 5, Automated Trading, Mac Trading, Web Trading, Mobile Trading, and AvaOptions.
In terms of regulation, AvaTrade is regarded as a superior broker because it has a lot of credible licenses. That way, even with deposits of up to ten thousand dollars, security can be guaranteed. Applying the Segregated Account system, AvaTrade is regulated by the Central Bank of Ireland (No.C53877), ASIC Australia (No.406684), JFSA Japan (No.1662), and South Africa (FSP 45984).
Can traders lose more than their deposit abruptly in the event of high volatility? AvaTrade explicitly answers no, as traders have negative balance protection.
With a minimum deposit of USD100, AvaTrade offers various leverage depending on the trading instruments; whether it is forex (starts from 30:1), indices (starts from 20:1), commodities (starts from 5:1), ETFs (starts from 5:1), or cryptocurrencies (starts from 2:1).
AvaTrade has committed to a set of values in relation to customers. Therefore, the company provides the best trading experience, offering multilingual customer service and the most sophisticated and user-friendly trading platform.
New traders can also learn forex trading in the Education tab on AvaTrade's official website. Traders will find a wide collection of articles, video tutorials, and more tools that will assist them every step of the way. It is an important requirement as the forex market might be a bit overwhelming and even scary at times, so traders need to make sure that they are fully prepared to begin trading in the real account.
There are many types of account types provided by AvaTrade. There is also an Islamic Trading Account, which is uniquely provided for Muslim Traders. Islamic account type is similar to a regular one with one key difference; it is not subject to any special fees or interests (swap-free), which sits well with the finance principles of Sharia Law.
If traders have felt confident for forex trading, traders can choose AvaTrade as an ideal choice. The minimum deposit and various platforms offered to make it a suitable destination for even beginners who would like to try forex trading for the first time.
BDSwiss
- Gold commission: 0
- Gold spreads: vary
CySEC-licensed BDSwiss applies different commission fees to each account. We may trade gold with zero commission on BDSwiss Classic and BDSwiss VIP accounts.
Each account also applies different spreads across markets. For instance, BDSwiss Classic charges a 0.3 pip spread on XAU/USD and BDSwiss VIP charges 0.21 pip on the same asset. Learn more on BDSwiss website.
easyMarkets
- Gold commission: 0
- Gold spreads: vary
easyMarkets offers commission-free trading for all assets, including gold (XAU/USD). However, there are varying spreads depending on what type of account and trading platform you choose.
Gold spread on both the easyMarkets web/app and TradingView is fixed at 0.40 USD (VIP), 0.45 USD (Premium), and 0.50 USD (Standard). MT4 charges fixed spreads of 0.35 USD (VIP), 0.40 USD (Premium), and 0.45 USD (Standard). But if you register to easyMarkets on an MT5 account, you may enjoy variable spreads starting as low as 0.20 USD along with the low gold commission.
Since 2001, easyMarkets have been writing their stories in financial markets. Simple, Honest, and Transparent, become three values that are carried on easyMarkets. The company has tried to make the process of trading as simple as possible.
They rebranded from easy-forex to easyMarkets in 2016. Over the years, easyMarkets expanded their CFD offerings to include global indices, options, metals, forex, commodities, and cryptocurrencies. The company is licensed by CySEC and ASIC.
Another privilege when trading in easyMarkets is its own platform. easyMarkets platform is simple and versatile. Based on reviews from traders, it's friendly to new clients and hosts a lot of features for experienced traders. Clients also receive free guaranteed stop loss, no slippage, fixed spreads, and no funding or withdrawal fees from easyMarkets.
There are three uniques features in the platform. Firstly, dealCancellation gives traders the ability to "undo" their trade. easyMarkets is the only broker that offers a way to close trade before it reaches 60 minutes duration only with a small fee.
Furthermore, traders can enjoy the Inside Viewer. This tool gives traders a deeper understanding of market sentiment by showing them percentage of buying and selling executed in the platform. The third unique feature is Freeze Rate. traders can pause a rate and place their trade at the "frozen" rate using this tool.
easyMarkets also includes financial calendar, market news, trading charts, and trading signals as the platform's perks. They also offer the technology on the mobile interface via iOS and Android devices. Traders can access markets anywhere and at any time.
MetaTrader 4 is also provided by easyMarkets. When using this popular trading platform, traders will get negative balance protection and fixed spreads. Besides that, Vanilla Options is available in this broker.
Because of those innovations, easyMarkets is an award-winning broker, receiving Forex Broker 2019 by The Forex Expo-Dubai, Most Innovative Broker 2018 by World Finance Markets Awards, Best APAC Region Broker 2018 by ADVFN International Financial Awards, Most Transparent Broker 2017 by Forex-Awards, Best Forex Service Provider 2017 by FXWord China, and many more over the years.
Moreover, easyMarkets offers three account types, such as VIP Accounts, Premium Accounts, and Standard Accounts. All of them can be accessed by the Web/App and MT4 platform. easyMarkets provide maximum leverage at 1:200 when using easyMarkets Web/App platform, and maximum leverage of 1:400 when using MT4.
Fixed spreads start from 1.0 pips in forex trading. Traders can become easyMarkets VIP clients with some benefits, such as trading via telephone, access to the tightest fixed spreads, personal analyst, and real-time market updates via SMS.
Traders do not need to pay additional fees whethere it is for commission, account fees, or deposit withdrawal. Account currencies are available in 18 options including EUR, CAD, CZK, JPY, NZD, USD, SGD, and many more. The company offers multiple ways to deposit and withdraw funds, some of them are credit/debit cards, bank transfers, and a ion of eWallets like Neteller, Skrill, and Fasapay.
For any questions or assistance, traders can contact the company directly at one of their local offices or at their headquarters in the Marshall Islands. Besides, traders can chat with their customer service by email, Facebook, WhatsApp, Viber, and Live Chat.
Based on the review above, easyMarkets provides easy-to-use platforms with some unique tools and it can be accessed by traders anytime and anywhere. Besides, traders do not need to pay extra fees for trading commission and deposit/withdrawal fees. Traders who register in easyMarkets can enjoy low spreads in EUR/USD pairs from 0.9 in the MT4 platform.
Rakuten Securities Australia (RSA)
- Gold commission: 0
- Gold spreads: 2.0 pips
RSA is an Australian-licensed broker that is also a part of the Japanese Rakuten Group. The company is rising lately due to their attractive "tight fixed spreads and no commission" offer, and the offer is genuinely applied.
The spread for XAU/USD is fixed at 2.0 pips for Retail, Pro 1, and Pro VIP accounts; with zero commission. So, Rakuten Securities Australia deserves a place near the top of this list of forex brokers with low gold commissions.
Tickmill
- Gold commission: 0
- Gold spreads: vary
Tickmill provides free-commission trading through their Classic account. The policy also applies for gold trading and other metal CFDs, such as silver and copper. The other accounts, Pro and VIP, charge low gold commissions as low as 1-2 USD per side per 100,000 traded.
All three types of accounts in Ticmill implement variable spread, which means spreads may widen at market opening and closing, and also during important market announcements. Variable spreads start at 0 pips for Pro and VIP accounts, and start at 1.6 pips for the Classic account. Learn more on Tickmill website.
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.
Conclusion
There are a lot of forex brokers with low gold commissions. Even better, some of them charge no commission at all. The decision may be accompanied by either high or low spreads for gold trading, depending on each gold broker's policy.
Low commissions, low spreads. Such a cost structure certainly benefits traders, especially high-frequency traders, scalpers, and day traders, who usually gain more profits as their trading volume increases. Still, you should always be aware of hidden costs that may or may not be applied by the broker behind your back.
Hidden costs may appear through highly volatile spreads during normal trading hours, negative slippages, abnormal swaps, as well as high fees on fund deposits and withdrawals. Certain offshore gold brokers even cheat by stop-loss hunting and offering fake copy trading services.
To defend against false "low gold commission" ads, you should choose well-regulated and trustworthy gold brokers. Investigate whether the broker is licensed by a regulatory body with high credibility. It may also be beneficial to seek reviews and testimonies from fellow traders.
In addition to checking out the commission, traders should also watch the spread. Luckily, there are several brokers with low spreads for gold trading to pick from.