Cheap price does not always guarantee a good broker for gold trading. So, what other factors should be considered?

Gold is the world's oldest currency and it is still highly tradable to this day. The precious metal is always considered reliable among traders and often seen as safe haven for traders. Even during uncertain times, the gold market always offers an excellent opportunity to profit due to its unique position in the world's political and economic systems.

For instance, after the 2008 recession, many people decided to invest their fortune in gold due to market volatility. However, since gold physically takes a lot of space, people prefer to trade it as Contract for Difference (CFD) so they speculate on the price movement rather than actually owning the asset.

Choose the Best Broker for Gold Trading

Several contracts are available for gold trading, namely spot contracts, forwards, futures, options, and NDFs. From the 5 choices, gold is mainly traded as spot contracts (immediate settlement) and futures contracts (settled in the future after 1-3 months).

Futures has the biggest market for gold trading in the US and London. The market is always open, except for an hour break within each trading day when the open outcry markets shut down and the CBOT markets kick in. You can trade both spot contracts and futures contracts in the primary futures market like CME, COMEX, CBOT, and NYMEX.

See also: Gold Price Today

There are various ways to earn profit in gold trading. Having a well-prepared trading strategy and choosing the right broker can determine your success from online gold trading.

 

Essential Factors to Consider

In order to select the best online broker for gold trading, there are several considerations that you need to think about so you don't choose the wrong one. You can compare the advantages and disadvantages of each broker ranging from the pricing, commission, to how the customer service works. Read further to find out more.

 

1. Regulation

When choosing any broker, the most crucial part to consider is the safety of the broker. It's vital to ensure that the broker is regulated by at least one reliable authority, which varies from one country to another. Some of the leading regulatory authorities are the Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA) in the US, Financial Conduct Authority (FCA) in the UK, Australian Securities and Investments (ASIC) in Australia, and Cyprus Securities and Exchange Commission (CySEC) in Cyprus.

The regulation mostly deals with how retail participation in gold trading should be carried out and the list of requirements that the broker must comply with. The regulatory bodies will keep an eye on the financial condition and compliance of the broker to ensure the broker's reliability and the safety of the customer's funds.

 

2. Trading Platform

The best broker for gold trading always has several selections of trading platforms suitable for all traders with various expertise levels. It's a great idea to choose a broker that offers multiple trading platforms because it can give you more flexibility and give you the option to select the one that suits your needs best. Most of these brokers offer demo accounts, which can help if you are a beginner trader. Demo accounts also allow you to gain early experience before you start investing with real money.

There are several trading platforms that you can use to trade gold. Many market makers offer the popular MetaTrader 4 platform and list gold as a pair against the USD (XAU/USD) on the platform. You can also find gold listed on brokers that offer ActTrader, JForex, and cTrader platforms along with various mobile apps. Not only that, but you can also trade with the Currenex platform, which has introduced gold trading in 2015 as a pairing of both gold/USD and gold/EUR.

 

3. Technology and Trading Tools

The best gold trading brokers must provide excellent technical support and tools needed for your trades. You can trade gold with Expert Advisors in trading platforms, which can be managed by using various programming languages. If you use more advanced trading platforms such as cTrader, Currenex, and LMAX, you can choose algorithmic trading software as a part of the general package.

Regardless of your trading expertise, it's still crucial to find a broker that can give you access to such tools so that you are better equipped to perform your actions. High-quality trading platforms usually let you customize the settings so you won't get many troubles when placing an order.

 

4. Price and Commission

Online gold trading brokers generate their income from spreads. It's essential to compare the price offered by several brokers to help you decide which one has the best offers. Some websites let you compare spreads offered by different gold trading brokers. Yet, price shouldn't be the only factor to consider.

Some brokers may offer a cheap price to attract new clients but end up taking the money instead. That's why it's best to view this aspect realistically. Don't get tempted by the lure of massive discounts offered. You must identify other key points and make sure that the broker is legit before you decide to register. Also, don’t forget to weigh the features and services that the broker provides. Some brokers may charge a slightly higher fee but offer more instruments and advantages in return.

It's worth noting that although most forex platforms are commission-free, gold is known to have the largest spread compared to other assets on the platform. Therefore, some platforms can offer gold with spreads of up to 80 pips. Combined with margin requirements, the price in gold trading brokers is definitely more expensive than regular currency pairs, so gold traders must be financially prepared for it.

 

5. Trading Accounts

Checking the trading account choices is also essential when picking the best broker for gold trading. Each account type was usually designed to meet certain standards for different categories of traders. That is why it would be helpful to see which account type you need and check if the broker provides it.

Generally, there are three trading accounts offered:

  • Micro accounts: The beginner-level account suitable for rookies. Contract sizes are usually small, restricted to not more than 10 troy ounces. The account is for traders with less than a $1,000 account balance. The minimum transaction size is about 0.01 lots or just 10 units of the asset.
  • Gold account: This is the medium-level account type and is usually a match for traders who can afford around $1,000 to $9,999.
  • VIP account: This account type is suitable for more experienced traders with a lot of cash to spare. The contract sizes are relatively big and the account capital requirements can reach up to $25,000 or more. With this account, traders can also get various additional perks such as social events, tickets to in-demand venues, and others.

 

6. Customer Support

The best brokers should have good customer support to show their good intention in helping and providing service for customers. In an unexpected situation, any trader would want fast and responsive customer support so they can solve their issues as fast as possible. Thus, it would be wise to pick a broker that provides active customer support at least during regular business hours. It's even better if the broker has 24/7 customer service available. 

 

Top Gold Trading Brokers

Based on the criteria above, here are some examples of brokers for gold trading:

 

1. Pepperstone

Pepperstone is a leading ECN broker that offers raw spreads and low commission since 2010. The company is based in Australia, but they also have branches in London, England, which operates under the FCA. In terms of customer protection, Pepperstone puts clients' funds in a segregated account and offers negative balance protection.

🌐 Website
pepperstone.com
Leverage
1:500
💼 Regulation
ASIC BaFin Capital Markets Authority of Kenya CySEC DFSAFCA SCB
💲 Min Deposit
$200
Year Established
2010

Free education
Trading by telephone
PAMM accounts
MAM accounts
Segregated accounts
Affiliate program
Islamic accounts available
PayPal
Wire transfer

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. The initial deposit starts at USD200 with a minimum lot of 0.01 (micro) and 1:500 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.

Pepperstone is known for its advanced technology tools such as Smart Trader Tools and cTrader Automate. There are several selections of trading platforms to choose from, including the famous MetaTrader 4 and 5. The broker also offers cTrader, so if you're looking for an ECN broker that offers cTrader, Pepperstone is the answer.

 

2. AvaTrade

AvaTrade is a top broker that was established in 2006 and is regulated across six continents where it operates, including by the CBI, ASIC, FSCA, BVI FSC, FSA, and ADGM. As one of the pioneers in forex and CFD brokers, AvaTrade offers competitive fees and spread, great customer support, and a broad range of helpful trading instruments.

🌐 Website
www.avatrade.com
Leverage
1:400
💼 Regulation
ASIC Financial Futures AssociationFinancial Services Regulatory AuthorityFSAFSCFSCAISA
💲 Min Deposit
$100
Year Established
2006

Bonus offers
Trading contests
Free education
Personal manager
PAMM accounts
Segregated accounts
Managed accounts
Islamic accounts available
Requires sending documents via postal mail
Neteller
Skrill
WebMoney
Wire transfer

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.

There are several trading account types available, namely Retail, Professional, Spread betting, and Options. The trading platforms offered are mainly MetaTrader 4 and MetaTrader 5, but the broker also provides additional platforms such as AvaTradeGo, AvaOptions, DupliTrade, and AvaSocial. Other than that, traders can get access to various essential tools for research such as educational videos, economic calendars, market analysis, and many more.

 

3. FXTM

FXTM or "ForexTime: was founded in 2011 and has gained a reputation as one of the best brokers in the world. The broker is fully regulated and has expanded its business to various countries, including the UK, Cyprus, Mauritius, and South Africa. At least 57 forex currency pairs and crosses are available in this broker along with various precious metals, the major energies, equity indices, cryptocurrencies, and a few individual American stocks.

🌐 Website
www.forextime.com
Leverage
1:2000
💼 Regulation
Capital Markets Authority of Kenya CySEC FCA FSCFSCA
💲 Min Deposit
$10
Year Established
2011

Bonus offers
Trading contests
Free education
Personal manager
Trading by telephone
Segregated accounts
Affiliate program
Islamic accounts available
Bitcoin
FasaPay
Neteller
QIWI
Skrill
WebMoney
Wire transfer

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.

In FXTM, traders can choose between two models: ECN-type account or STP-type account. Traders also have the choice between two of the most popular trading platforms: MetaTrader 4 and 5. In Mauritius, FXTM offers a leverage of up to 1:2000, while in the UK and Cyprus, it is limited to 1:30. Other than that, FXTM also offers a great copy trading program that is worth checking out.

 

4. eToro

eToro is a giant global broker that is mostly known for its social and copy trading program. eToro has hundreds of thousands of clients worldwide and is regulated in several countries, including Cyprus, the UK, Australia, and the US. eToro uses a trading platform that is user-friendly, easy to navigate, and customizable.

🌐 Website
www.etoro.com
Leverage
1:400
💼 Regulation
ASIC CySEC FCA Financial Services Regulatory AuthorityFINRA
💲 Min Deposit
$200
Year Established
2007

Trading contests
Free education
Personal manager
Segregated accounts
Affiliate program
Islamic accounts available
US traders are welcome
Neteller
PayPal
Skrill
WebMoney
Wire transfer

eToro established in early 2007, with a mission to make trading accessible to anyone, anywhere, and reduce dependency on traditional financial institutions. The company has head offices in the United Kingdom, Cyprus, USA, and Australia.

eToro (Europe) Ltd operates as a Financial Services Company authorized and regulated by the Cyprus Securities Exchange Commission (CySEC) under license no. #109/10. Meanwhile, eToro (UK) Ltd is authorized and regulated by the Financial Conduct Authority (FCA) under the license FRN 583263.

As for eToro AUS Capital Pty Ltd, the legal standing is acknowledged by the Australian Securities and Investments Commission (ASIC) to provide financial services under Australian Financial Services License 491139.

A broker that belongs to the 4-digit type, eToro offers both short-term options for day traders and long-term options for investors, such as their innovative CopyPortfoliosTM, a fully managed thematic portfolio.

Since 2007, eToro has been at the forefront of the Fintech revolution. The most recent was launched in 2017, which is CopyPortfolios powered by Machine learning Al. Beyond developing CopyPortfolios, the company integrated Microsoft's machine learning technology into Momentum DD.

The new CopyPortfolio investment strategy uses artificial intelligence to find the steadiest traders who are most likely to generate a double-digit return and bundle traders into one fully-managed portfolio. eToro has hundreds of financial assets for trading across several categories including stocks, commodities, crypto assets, currencies, indices, and ETFs. Each asset class has characteristics and can be traded using a variety of investment strategies.

Some positions on eToro involve ownership of underlying assets, such as non-leveraged positions on stocks and cryptos. Employing CFDs will enable a variety of options, such as leveraged trades, short (sell) positions, fractional ownership, and more. For example, traders can invest as little as USD100 in gold, even if a single unit of gold cost USD1,000. Some of eToro's most popular CFD commodities include gold, oil, natural gas, silver, and platinum.

Currencies are traded on eToro only as CFDs. Also, CFDs enable Sell (short) positions and leveraged trade, even for assets that don't offer the option in traditional trading. Some of the popular currencies include EUR/USD, GBP/USD, AUD/USD, USD/JPY, and USD/CAD.

Furthermore, An Exchange-Traded Fund (ETF) is a financial instrument comprising several assets grouped to serve as one tradable fund. After opening an account in eToro, traders can invest as little as USD250 in an ETF that costs USD500. Some of the popular ETFs on eToro include SPY, VXXB, TLT, and HMMJ.

However, eToro also offers additional functions using CFD trading. All leveraged ETF positions in the UK are under FCA regulations. Meanwhile, all CFD positions executed by eToro Australia are under ASIC regulations.

The company has other advantages. In all financial assets that can be traded, eToro does not charge any deposit or trading frees other than spreads.

eToro charges a USD25 fee for withdrawals and the minimum withdrawal amount is USD50. Long (Buy), non-leveraged crypto, stock, and ETF positions are not executed as CFDs and do not incur any fees. eToro does charge overnight or weekend fees for CFDs positions, such as leveraged positions and short (sell) orders.

Fee updates always apply to open positions. Fees are subject to change at any given time and could change daily, without prior notice, depending on market conditions.

As a beginner, trader can use CopyTrading eToro. Different from the features of other brokers, traders can copy the strategies of professional traders without fee or profit-sharing. Therefore, 100% profit is fully owned by traders. For example, while trader A who is copied by trader B, produces a profit of 10% this month, then trader B also gets a profit of 10%.

The company is the world's leading social trading network. Since eToro operates in complete transparency, each trader has valuable information on their eToro profiles, so other traders that are interested to copy their trades can have assistance in creating their best portfolios.

Another feature that is unique to eToro is the personalized, social News Feed. Just like on any social media, traders can post their updates on feed, comment on other's posts, and gradually create a feed that is tailor-fitted to trader's trading and investing interests. On eToro social trading platform, traders will also get notifications when a trader writes a new post and many other important updates.

Another great thing about eToro is its cryptocurrency-related services. After its 2019 acquisition of a Danish Blockchain company, Firmo, and a Belgian crypto portfolio tracker application called Delta, eToro released its own crypto wallet for mobile devices. Other than that, eToro also offers a social trading platform based on Twitter activity, which is particularly suitable for millennial traders.

 

5. XTB

XTB is a highly reputable CFD platform that supports forex, indices, commodities, stock CFDs, ETF CFDs, and cryptocurrencies. The broker is regulated by several top-tier regulators such as the IFSC, FCA, KNF, and CySEC.

🌐 Website
www.xtb.com
Leverage
1:30
💼 Regulation
CNMV Czech National Bank DFSAFCA FSAFSCAIFSCESMA
💲 Min Deposit
$1
Year Established
2002

Free education
Personal manager
PAMM accounts
Segregated accounts
Affiliate program
Islamic accounts available
Neteller
PayPal
Skrill
Wire transfer

With more than 15 years of experience, XTB (rebranded from X-Trade since 2009) is one of the largest brokers in the world. They have offices in more than 10 countries, including Belize, UK, Poland, Germany, Spain, and France. XTB Group is regulated by the world's biggest supervision authorities including the IFSC, FCA, KNF, and CySEC.

As a regulated company, XTB holds all retail clients' funds in a fully segregated account, meaning they are not mixed with the broker's operational funds. This enables traders who register in XTB to trade with confidence in their funds' safety.

XTB tries to provide an easy-trading anytime and anywhere. They have a mobile application, xStation to realize that vision. Traders can access financial markets from their fingertips and choose from over 1,500 CFD markets including 48 currency pairs, cryptocurrencies, 20 indices, commodities (gold, oil, silver, etc.), stock, and 60 ETFs from around the world. This application can be downloaded in Google Play and App Store.

Traders also can access their platform by PC. XTB offers a web trade platform with access to more advanced tools for more advanced traders. It's fully compatible with Chrome, Firefox, Safari, and Opera web browser. Traders are provided with fast and reliable trade execution speeds. No wonder this platform has successfully presented XYB with awards such as Best Trading Platform 2016 by Online Personal Wealth Awards. Additionally, MetaTrader 4 is also available when trading in XTB.

XTB charges fees for forex, indices, and commodities trading. The amount of fees differ based on the types of accounts. For example, in Pro Accounts, traders have to pay a commission from $3.5 per lot for forex and a commission from 0.08% per lot for stock CFDs and ETF CFDs.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. When trading, clients have to prepare strategies. Based on XTB's data, 75% of retail investor accounts lose money when trading CFDs. Because of that, clients should consider their level of understanding of CFD trading and their affordability to take high risk.

Traders can increase knowledge by joining XTB's Trading Academy program. There is a vast array of content that's geared towards helping traders, including video tutorials, trading courses, articles, and much more. Traders can choose a topic from different levels of education and enhance their skills across the stages of the trading journey.

Furthermore, there are several ways to deposit funds in XTB, including bank transfer, credit cards (Mastercard, Maestro, Visa), as well as e-Wallets (Skrill, Paysafe, Neteller, and many more). But, some of these methods may incur additional charges. For example, when using Neteller methods, traders have to pay 1% of their deposited amount.

Traders can contact XTB's customer support that is available 24/7. They are ready to answer all of the traders' questions and solve the problems, whether by email, phone, or live chat.

Overall, XTB is recommended as an ideal broker with top-tier regulation and trading platforms. Its education feature is also worth joining in as many traders are still in the process of perfecting their consistency and continue to learn the dynamic change in the forex market.

For forex traders, XTB offers 48 currency pairs with low-cost spreads and various trading instruments. In terms of trading platforms, traders can choose between xStation 5 and MetaTrader 4. When it comes to leverage, XTB offers maximum leverage of 1:200. There's a fixed commission of 0.08% per lot across two types of accounts. Conveniently, the broker also supports a demo account and a trading academy for newbies.

To give more insights on some of the abovementioned brokers, here is a side-by-side comparison:

Compare Pepperstone FXTM eToro

Rating

General Rating 4.43/5
3.73/5
3.87/5
Trustpilot 4.7/5

rated by 1748 users
3.1/5

rated by 704 users
2.2/5

rated by 2 users

General Information

💼 Regulation
⌛ Established 2010 2011 2007
💲 Min Deposit $200 $10 $200
⚖ Max Leverage 1:30 1:2000 1:400
🔢 Spread Variable Variable Fixed
💸 Commissions $7 $2
💡 Min Position 0.01 lot 0.01 lot 0.1 lot
💳 Payment Credit/debit cards, PayPal, UnionPay and Wire transfer Bitcoin, Credit/debit cards, DIXIPAY, FasaPay, Google Pay, Neteller, Perfect Money, QIWI, Skrill, UnionPay, WebMoney, Wire transfer and YooMoney Credit/debit cards, Neteller, PayPal, Skrill, UnionPay, WebMoney, Wire transfer and YooMoney
🏢 Office(s) AustraliaGermanyKenyaCyprusUnited Arab EmiratesUnited KingdomBahamas KenyaCyprusUnited KingdomMauritiusSouth Africa AustraliaCyprusUnited KingdomUnited Arab EmiratesUnited States
🧩 Forex Demo Account
📁 Segregated Account
🕋 Islamic Account
👨‍💻 PAMM Account
📈 Managed Account
💱 Hedging
🇺🇸 US traders are welcome
🕛 Swaps
🏆 Trading contests
⚡ Automated trading
💹 Interest rate on funds
💰 Bonus offers
📖 Free education
👔 Affiliate program
📱 Mobile trading
💻 Browser-based platform
1️⃣ One-click trading
⏱ Trailing stop
⏳ Pending orders
ForexForex
cfdCFD
IndexesIndexes
Spread BettingSpread Betting
Gold & SilverGold & Silver
CryptocurrenciesCryptocurrencies
stocksStocks
oilOil
MetalsMetals
EnergiesEnergies
FuturesFutures
etfETF
Soft CommoditiesSoft Commodities
OptionsOptions
AgricultureAgriculture
BondsBonds
Binary OptionsBinary Options
IndicesIndices
CommoditiesCommodities
SharesShares
Physical StockPhysical Stock
🗣 Website Languages Chinese, English, Russian Arabic, Chinese, Czech, English, French, Hindi, Indonesian, Italian, Korean, Malay, Persian, Polish, Russian, Spanish, Thai, Turkish, Urdu, Vietnamese Arabic, Chinese, Dutch, English, Finnish, French, German, Hungarian, Italian, Norwegian, Polish, Portuguese, Romanian, Russian, Spanish, Swedish
📨 Email Support
📞 Call Support
🎧 Chat Support
🚪 Open Account Open Pepperstone Open FXTM Open eToro


 

Conclusion

Although gold trading is considered more traditional than newer assets like cryptocurrency, its popularity is consistently high from time to time. Gold trading offers a great opportunity because of its vast market and more stable prices.

When choosing a gold trading broker, there are several important factors to consider as explained in this article, including regulation, software, fee and commission, trading platform, and trading account. In this case, you must be able to filter the choices and pick the one that suits you the most. Make sure to stay realistic with your choice and weigh all the pros and cons before proceeding to register with the broker.