South Africa produces and exports several commodities, with Gold, coal, and agricultural products being the main ones.
Traders often look for brokers with precise execution, strong regulations, and various commodity assets to either benefit from global supply and demand or hedge their positions.
While most brokers offer commodity instruments, choosing the right option might be confusing. Thus, we researched, reviewed, and tested several brokers to identify the 10 best that offer commodity trading to South Africans.
Here’s what we cover in our in-depth guide:
- What are Commodities?
- 10 Best Brokers for Commodity Trading (2025)
- Our Final Thoughts on Commodity Brokers
- Commodity Brokers – FAQ
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
10 Best Brokers for Commodity Trading in 2025 – A Comparison
| 🔎 Broker | 🚀 Open an Account | 🛢South African-Specific Commodities | 💰 Minimum Deposit |
| 🥇 AvaTrade | 👉 Open Account | Gold, Platinum, Oil | $100 / R1806 ZAR |
| 🥉 XTB | 👉 Open Account | Gold, Silver, Oil, Corn, Nickel, Platinum, etc. | $0 USD / R0 ZAR |
| 🥈 Exness | 👉 Open Account | Limited (Metals, Energies) | $10 USD / R186 ZAR |
| 📍 IG | 👉 Open Account | Gold, Palladium, Oil | $0 USD / R0 ZAR |
| 📌 Plus500 | 👉 Open Account (CFD Service. Your capital is at risk) | Gold, Oil, Brent, Palladium, Platinum, etc. | $100 / R1806 ZAR |
| 🏅 HFM | 👉 Open Account | Gold, Platinum, Oil, Palladium | $0 USD / R0 ZAR |
| 🏅 Tickmill | 👉 Open Account | Gold, Silver, Oil, Platinum, Palladium | $100 / R1806 ZAR |
| 📌 Pepperstone | 👉 Open Account | Gold, Platinum, Brent, etc. | $0 USD / R0 ZAR |
| 🏅 IC Markets | 👉 Open Account | Brent, Gold, Corn | $200 USD / R3557 ZAR |
| 📍 XM | 👉 Open Account | Corn, Gold | $5 USD / R88 ZAR |
What are Commodities?
If you’re new to financial markets and trading, you might wonder, “What are commodities?”
Commodities are the tangible goods that drive South Africa’s economy. They’re raw materials that are produced and traded, which form the very foundation of economic activities in the country.
Gold is the perfect example here. South Africa is historically one of the largest Gold producers of these precious metals. In 2023, South Africa’s mining sector added ±R425.6 billion to the country’s GDP, which makes up around 54% of the country’s export revenues.
This is about so much more than just the numbers; it’s also about the livelihoods the mining sector supports and the global connections South Africa makes by trading commodities.
Coal is another major commodity and a staple in the South African energy sector. The energy sector has faced significant challenges recently, but coal is still one of the largest exports.
In 2024, the railway infrastructure was improved, resulting in a 10% increase (52 million+ metric tons) in coal exports from the Richards Bay Coal Terminal. While this surge boosted the local economy, it also secured energy for several regions (if not all of them).
Another key South African commodity is agriculture. South Africa’s fertile lands yield various crops, and maize is the frontrunner.
South Africa ranked 12th globally in maize exports in 2018 by producing over 12.5 million tonnes. Besides bringing in money, maize is a dietary staple in South Africa.
When you understand commodities, you get valuable insight into the economic landscape in South Africa. While there are more products than Gold, coal, and agricultural products, they are the foundation of South African industries, employment, and the country’s connection to the world.
10 Best Brokers for Commodity Trading (2025)
- ☑️AvaTrade – Overall, the Most Popular Commodity Broker.
- ☑️XTB – Award-Winning Commodity Broker.
- ☑️Exness – Best Online Trading Experience.
- ☑️IG – Popular Commodities Broker With Competitive Fees.
- ☑️Plus500 – 20+ commodities available.
- ☑️HFM – Best Range of Commodity Markets
- ☑️Tickmill – A Stable and dependable trading platform.
- ☑️Pepperstone – High User Trust Score.
- ☑️IC Markets – Low Commission Broker.
- ☑️XM – High-Leverage Commodity Trading Platform.
1. AvaTrade
Apart from AvaTrade’s local presence in South Africa, the broker also offers a few commodities relevant to South Africa, including metals, energy, and agricultural instruments.
AvaTrade offers these products as CFD instruments where you can trade the underlying asset without taking delivery of, for instance, physical Gold or coal. AvaTrade offers 10+ commodities that can be traded using MetaTrader 4, MetaTrader 5, and the broker’s platforms.
Min Deposit
USD 100
Regulators
ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA
Trading Platform
MT4, MT5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
AvaTrade welcomes short- and long-term commodity traders who want to hedge their positions against market volatility. Another benefit is registering a ZAR-denominated account and depositing/withdrawing in local currency to cancel out currency conversion fees.
Broker and Commodity Trading Features
| 🏷 Category | 📌 Details |
| 📅 Year Founded | 2006 |
| 🏛 Regulation | Central Bank of Ireland (CBI), ASIC, FSCA, CySEC, FFAJ, JFSA, ADGM, BVI, ISA, KNF, IIROC |
| 👤 Accounts | Retail, Professional, Islamic |
| 🏋️♂️ Demo Account for Practicing Commodity Trading? | No |
| 🕌 Can I Trade Commodities on the Islamic Account? | Yes (Only Oil, Silver, and Gold via MT4) |
| 💱 Minor Account Currencies | ZAR, AUD, CHF, JPY, PLN, etc. |
| 💵 Minimum Deposit | $100 / R1806 ZAR |
| 📉 Spreads on Commodities | $0.27 (Gold) |
| 💰 Commissions | None on most accounts |
| 📊 Swap Fees | Yes; 0.0047% (Sell), -0.0149% (buy) on Gold |
| ⚖️ Leverage on Commodities | 1:200 |
| 🔢 Margin Requirements (Commodities) | 0.5% (varies by asset) |
| 💻 Trading Platforms | MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, DupliTrade, ZuluTrade, WebTrader |
| 🛠 Forex Trading Tools | AvaProtect, Autochartist, Guardian Angel, Economic Calendar |
| 🎓 Educational Resources | Articles, Videos, eBooks, Tutorials |
| 🇿🇦 South African-Specific Commodities | Gold, Platinum, Oil |
| 💳 Offers a ZAR Account? | Yes |
| ✅ Regulated by the FSCA? | Yes |
| 🏢 Local Office in South Africa? | Yes, Johannesburg |
| 🤝 Affiliate Program for South Africans? | Yes |
| 🚀 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Easy Account opening | Limited product portfolio |
| No withdrawal fee | Administration fee |
| Low trading fees | Inactivity fee |
| Negative balance protection | Not listed on stock exchange |
Our Findings
AvaTrade’s massive range of instruments, especially on MetaTrader 5, makes it the ideal broker for South Africans exploring commodities. However, there’s a limited number of commodity CFDs compared to what AvaTrade offers in terms of forex.
2. XTB
XTB gives South Africans access to over 28 global and locally relevant commodities, all available from the xStation 5 platform. XTB doesn’t require a set minimum deposit, letting you start with any investment amount.
Min Deposit
USD 0
Regulators
FCA, CySEC, IFSC, KNF
Trading Platform
MT4, xStation
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Leverage on commodities goes up to 1:500 on Gold, allowing you to manage your exposure. You also get backing from the FSCA. XTB offers several trading options, but ZAR is not a support account currency, exposing you to conversion fees.
Broker and Commodity Trading Features
| 🏷 Category | 📌 Details |
| 📅 Year Founded | 2002 |
| 🏛 Regulation | FSCA, FCA, CySEC, BaFin, ACPR, CNMV, KNF, IFSC |
| 👤 Accounts | Standard, Swap-Free |
| 🏋️♂️ Demo Account for Practicing Commodity Trading? | Yes (30-day trial) |
| 🕌 Can I Trade Commodities on the Islamic Account? | Yes |
| 💱 Minor Account Currencies | USD, EUR, GBP |
| 💵 Minimum Deposit | $0 USD / R0 ZAR |
| 📉 Spreads on Commodities | From 0.25 pips (Gold) |
| 💰 Commissions | None on commodity trading |
| 📊 Swap Fees | Yes; -0.025887% (buy), -0.001891% (sell) on Gold |
| ⚖️ Leverage on Commodities | Up to 1:500 |
| 🔢 Margin Requirements (Commodities) | 0.20% (Gold) |
| 💻 Trading Platforms | xStation 5, xStation Mobile |
| 🎓 Educational Resources | Trading Academy, guides, articles, tutorials |
| 🇿🇦 South African-Specific Commodities | Gold, Silver, Oil, Corn, Nickel, Platinum, etc. |
| 💳 Offers a ZAR Account? | No |
| ✅ Regulated by the FSCA? | Yes |
| 🏢 Local Office in South Africa? | No |
| 🤝 Affiliate Program for South Africans? | Yes |
| 🚀 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Used by 230,000+ traders | Doesn’t offer VPS |
| Established in 2002 | Limited range of instruments |
| Regulated by Financial Conduct Authority | Not ASIC Regulated |
Our Findings
Our findings on XBT indicate that it is a widely recognized ticker symbol for Bitcoin in financial markets, commonly used for trading cryptocurrency derivatives and futures on platforms.
3. Exness
Exness is one of the go-to brokers for South African commodity CFDs, including metals and energy products. Exness offers commodities across all platforms, and you can expect competitive spreads and a choice between commission-based and spread-based trading.
Another advantage is registering ZAR-denominated accounts, using local payment methods, and saving on overall trading fees. Exness offers leverage according to your account balance and while you can get 1:Unlimited on forex majors, commodities might be less due to their risk.
Broker and Commodity Trading Features
| 🏷 Category | 📌 Details |
| 📅 Year Founded | 2008 |
| 🏛 Regulation | FSCA, FCA, CySEC, FSA, CBCS, FSC, CMA |
| 👤 Accounts | Standard, Standard Cent, Raw Spread, Zero, Pro |
| 🏋️♂️ Demo Account for Practicing Commodity Trading? | Yes |
| 🕌 Can I Trade Commodities on the Islamic Account? | Yes |
| 💱 Minor Account Currencies | ZAR, AED, ARS, BDT, BHD, BND, BRL, EGP, GHS, IDR, KES, KWD, KZT, MAD, MXN, MYR, NGN, OMR, PHP, PKR, QAR, SAR, THB, UAH, UGX, UZS, XOF |
| 💵 Minimum Deposit | $10 USD / R186 ZAR |
| 📉 Spreads on Commodities | From 0.0 pips (Gold, Zero Account) |
| 💰 Commissions | $5.5 per lot/per side (Zero) |
| 📊 Swap Fees | Yes; -0.025887% (buy), -0.001891% (sell) on Gold |
| ⚖️ Leverage on Commodities | 1:2000 (depending on the commodity) |
| 🔢 Margin Requirements (Commodities) | 0.05% (Gold) |
| 💻 Trading Platforms | MetaTrader 4, MetaTrader 5, Exness Web Terminal, Exness Trader App |
| Forex trading tools | Economic Calendar, Trading Central, Technical Analysis, Trading Calculators, Historical Data |
| 🎓 Educational Resources | Articles, Videos, Market Analysis, Blog, Tutorials, Exness Academy, Trading Central WebTV |
| 🇿🇦 South African-Specific Commodities | Limited (Metals, Energies) |
| 💳 Offers a ZAR Account? | No |
| ✅ Regulated by the FSCA? | Yes |
| 🏢 Local Office in South Africa? | No |
| 🤝 Affiliate Program for South Africans? | Yes |
| 🚀 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Highly Regulated | Limited Local Support |
| Competitive Trading Conditions | High Leverage Risks |
| Low Minimum Deposit | Complex Fee Structure |
| Variety of Trading Instruments | Withdrawal Fees |
| Educational Resources | Platform Limitations |
| Local Currency Accounts | Customer Service Variability |
| Demo Accounts | Regional Variations in Service |
| VPS Hosting Available | Potential Over-Reliance on Automation |
Our Findings
Exness gives you an all-around local trading experience with ZAR accounts, deposits, withdrawals, and flexible account types. However, there’s a limited choice between commodity instruments and limited trading options beyond CFDs.
4. IG
South Africans can trade more than 30 commodity CFDs with IG across metals, energy, and agricultural products.
IG offers a few account options depending on your trading or investment style. You can connect to the markets using MetaTrader 4, ProRealTime, and IG’s proprietary Trading Platform. You get direct market data through L2 Dealer to provide deeper market insights that direct your trading.
Min Deposit
USD 0
Regulators
FCA, BaFin, FINMA, DFSA, MAS, ASIC, FSCA
Trading Platform
MT4
Crypto
Yes
Total Pairs
80
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
While IG is regulated in South Africa, there’s no ZAR-denominated account option. However, you can use leverage up to 1:30, depending on the financial instrument, account, and whether FSCA restricts leveraged derivatives trading.
Broker and Commodity Trading Features
| 🏷 Category | 📌 Details |
| 📅 Year Founded | 1974 |
| 🏛 Regulation | FCA, BaFin, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA |
| 👤 Accounts | CFD Trading Account, Share Dealing Account, ISA Account, SIPP Account, Professional Account, Swap-Free, Demo |
| 🏋️♂️ Demo Account for Practicing Commodity Trading? | Yes |
| 🕌 Can I Trade Commodities on the Islamic Account? | Yes, selected instruments |
| 💱 Minor Account Currencies | USD, GBP, EUR, AUD, CAD, CHF, JPY, SGD, ZAR, NOK, SEK, HKD |
| 💵 Minimum Deposit | $0 USD / R0 ZAR |
| 📉 Spreads on Commodities | 0.5 pips (Gold) |
| 💰 Commissions | Varies by asset |
| 📊 Swap Fees | Varies |
| ⚖️ Leverage on Commodities | Up to 1:20 on commodities |
| 🔢 Margin Requirements (Commodities) | 5% (Gold) |
| 💻 Trading Platforms | MetaTrader 4, IG Trading Platform, ProRealTime, L2 Dealer |
| 🛠Forex trading tools | Autochartist, trading signals, ProRealTime charting |
| 🎓 Educational Resources | Gold, Palladium, Oil |
| 🇿🇦 South African-Specific Commodities | Gold, Palladium, Oil |
| 💳 Offers a ZAR Account? | Yes |
| ✅ Regulated by the FSCA? | Yes |
| 🏢 Local Office in South Africa? | Yes |
| 🤝 Affiliate Program for South Africans? | Yes |
| 🚀 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Great Web Platform | Few Products Offered |
| Vast Educational Tools | Phone Support is sub-par |
Our Findings
IG has no shortage of trading options and opportunities to capitalize on dynamic markets. IG also offers direct market access tools, several account options, and multiple trading platforms.
However, IG doesn’t have a ZAR account and additional fees to consider.
5. Plus500
Beyond its FSCA regulation, Plus500 offers South African commodity traders flexibility and diversification.
South Africans can trade metals, energy, and agricultural assets on a powerful proprietary web-based platform and app.
Traders also benefit from Guaranteed Stop Orders and other risk management features. Retail traders are capped to a leverage of 1:20, while professionals can use ratios up to 1:150 on commodities. The minimum deposit is $100 (1,800+ ZAR), and ZAR is a supported currency.
Min Deposit
USD 100
Regulators
CySEC, FCA, MAS, FSA, ASIC, FMA, FSCA
Trading Platform
WebTrader
Crypto
Yes (Availability subject to regulations)
Total Pairs
70+
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
There are no commission fees; all broker fees are included in the spreads, which are either dynamic or fixed.
With Plus500 users can trade a variety of commodity CFDs including Gold, Oil, and Silver. Commodities CFDs are available for trading with up to 1:20 leverage.
Broker and Commodity Trading Features
| 🏷 Category | 📌 Details |
| 📅 Year Founded | 2008 |
| 🏛 Regulation | FSCA, FCA, CySEC, ASIC, MAS, FSA Seychelles |
| 👤 Accounts | Live, Demo, Islamic |
| 🏋️♂️ Demo Account for Practicing Commodity Trading? | Yes (unlimited) |
| 🕌 Can I Trade Commodities on the Islamic Account? | Yes (available on request and only certain instruments) |
| 💱 Minor Account Currencies | USD, EUR, GBP, ZAR |
| 💵 Minimum Deposit | $100 / R1806 ZAR |
| 📉 Spreads on Commodities | From 0.66 pips (Gold) |
| 💰 Commissions | None |
| 📊 Swap Fees | Yes; -0.0338% (buy), -0.0101% (sell) on Gold |
| ⚖️ Leverage on Commodities | Up to 1:150 (professional traders), 1:20 (retail traders) |
| 🔢 Margin Requirements (Commodities) | 5% (Gold) |
| 💻 Trading Platforms | Plus500 WebTrader, Mobile App |
| 🛠Forex trading tools | Built-in economic calendar, risk management tools |
| 🎓 Educational Resources | Trading guides, tutorials |
| 🇿🇦 South African-Specific Commodities | Gold, Oil, Brent, Palladium, Platinum, etc. |
| 💳 Offers a ZAR Account? | Yes |
| ✅ Regulated by the FSCA? | Yes |
| 🏢 Local Office in South Africa? | No |
| 🤝 Affiliate Program for South Africans? | Yes |
| 🚀 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Used by 300,000+ traders | Doesn’t allow scalping |
| Established in 2008 | Inactivity Fee |
| Minimum deposit from $100 | Limited range of instruments |
Our Findings
Plus500 is a highly regulated broker offering competitive CFD trading on commodities, with leverage up to 1:300 and a user-friendly platform, making it an excellent choice for traders seeking efficient and secure trading options.
6. HFM
HFM has over 12 commodity CFDs, including popular and local options. Trading is done using HFM’s MetaTrader 4, MetaTrader 5, and the HF App, with spreads from 0.03 on gold trades using the Zero Account. Leverage on commodities goes up to 1:2000, depending on the commodity and account.
Min Deposit
USD 0 / ZAR 0
Regulators
FSCA, DFSA, FSC, CMA. FCA
Trading Platform
MT4, MT5, HFM Platform
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
No Trading Fees
Account Activation
24 Hours
South Africans can register a ZAR account and use local deposit/withdrawal methods to manage their funds.
Broker and Commodity Trading Features
| 🏷 Category | 📌 Details |
| 📅 Year Founded | 2010 |
| 🏛 Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 👤 Accounts | Cent, Premium, Zero, Pro, Pro Plus, Islamic, HFCopy, Demo |
| 🏋️♂️ Demo Account for Practicing Commodity Trading? | Yes |
| 🕌 Can I Trade Commodities on the Islamic Account? | Yes |
| 💱 Minor Account Currencies | ZAR, NGN |
| 💵 Minimum Deposit | $0 USD / R0 ZAR |
| 📉 Spreads on Commodities | From 0.15 pips (Gold, Zero Account) |
| 💰 Commissions | From $6 per round turn (on Zero accounts) |
| 📊 Swap Fees | Yes; -39.98 pips (buy), 0.0 pips (sell) on Gold |
| ⚖️ Leverage on Commodities | Up to 1:2000 |
| 🔢 Margin Requirements (Commodities) | Varies by asset and account type |
| 💻 Trading Platforms | MetaTrader 4, MetaTrader 5, HF App |
| 🛠Forex trading tools | Autochartist, Trading Central, VPS, Economic Calendar, Market Analysis |
| 🎓 Educational Resources | Videos, eBooks, Articles, Tutorials, Market Analysis, Podcasts |
| 🇿🇦 South African-Specific Commodities | Gold, Platinum, Oil, Palladium |
| 💳 Offers a ZAR Account? | No |
| ✅ Regulated by the FSCA? | Yes |
| 🏢 Local Office in South Africa? | No |
| 🤝 Affiliate Program for South Africans? | Yes |
| 🚀 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| HFM is a multi-regulated and award-winning broker with an impressive track record and trust score | There is a limited selection of deposit and withdrawal options |
| There are low and competitive spreads offered | There is a limited selection of base account currencies and deposit currencies |
Our Findings
HFM is ideal if you want a local, dynamic trading experience. HFM offers ZAR accounts, deposits, and withdrawals. However, HFM has a limited range of commodities.
7. Tickmill
South Africans can trade 13+ commodities with Tickmill using ZAR accounts. Tickmill has a local office in Sandton, Gauteng, and is regulated by the FSCA under “Tickmill.com.” South Africans can use several trading platforms to engage with local and global commodities.
Broker and Commodity Trading Features
| 🏷 Category | 📌 Details |
| 📅 Year Founded | 2014 |
| 🏛 Regulation | FSCA, FCA, CySEC, DFSA, Labuan FSA, FSA Seychelles |
| 👤 Accounts | Classic, Raw, Islamic, Demo |
| 🏋️♂️ Demo Account for Practicing Commodity Trading? | Yes |
| 🕌 Can I Trade Commodities on the Islamic Account? | Yes |
| 💱 Minor Account Currencies | ZAR, USD, EUR, GBP |
| 💵 Minimum Deposit | $100 / R1806 ZAR |
| 📉 Spreads on Commodities | From 0.0 pips (Raw Account on Gold) |
| 💰 Commissions | $3 per lot per side (Raw Account) |
| 📊 Swap Fees | Yes; -39.51 (buy), 19.53 (sell) on Gold |
| ⚖️ Leverage on Commodities | Up to 1:1000 (Gold) 1:20 (retail traders) |
| 🔢 Margin Requirements (Commodities) | Varies by instrument |
| 💻 Trading Platforms | MetaTrader 4, MetaTrader 5, Tickmill Trader |
| 🛠Forex trading tools | Autochartist, Trading Calculators, Economic Calendar, VPS Hosting |
| 🎓 Educational Resources | Articles, eBooks, Videos, Webinars |
| 🇿🇦 South African-Specific Commodities | Gold, Silver, Oil, Platinum, Palladium |
| 💳 Offers a ZAR Account? | Yes |
| ✅ Regulated by the FSCA? | Yes |
| 🏢 Local Office in South Africa? | No |
| 🤝 Affiliate Program for South Africans? | Yes |
| 🚀 Open an Account | 👉 Open Account |
Pros and Cons
| ✅Pros | ❌Cons |
| Low spreads | Limited asset selection |
| Multi-jurisdiction regulation | No cryptocurrencies |
| Excellent Education | No US clients |
Our Findings
Tickmill is a reputable FSCA-regulated broker with competitive pricing. However, Tickmill has limited South African market analysis and educational content.
8. Pepperstone
South Africans can trade over 17 commodities across energy, metals, and agricultural products.
Pepperstone is well-known for its ECN execution model, Razor Account, rebates, and low-latency order execution.
Min Deposit
USD 0
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Platform
MT4, MT5, cTrader, TradingView
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Pepperstone allows traders to trade commodity CFDs on gold, silver, crude oil, and natural gas and has lower spreads and faster execution.
Broker and Commodity Trading Features
| 🏷 Category | 📌 Details |
| 📅 Year Founded | 2010 |
| 🏛 Regulation | ASIC, FCA, CySEC, DFSA, BaFin, SCB, CMA |
| 👤 Accounts | Standard, Razor |
| 🏋️♂️ Demo Account for Practicing Commodity Trading? | Yes |
| 🕌 Can I Trade Commodities on the Islamic Account? | Yes (Admin fees apply after five days) |
| 💱 Minor Account Currencies | USD, AUD, EUR, JPY, GBP, CAD, CHF, NZD, SGD, HKD |
| 💵 Minimum Deposit | $0 USD / R0 ZAR |
| 📉 Spreads on Commodities | Variable, starts from 0.1 pips (Razor) |
| 💰 Commissions | AU$7 per lot (Razor), None (Standard) |
| 📊 Swap Fees | Yes, Varies by asset (calculated Daily swap charge / credit = (Trade size x (basis* +/- Pepperstone charge) |
| ⚖️ Leverage on Commodities | Up to 1:200 |
| 🔢 Margin Requirements (Commodities) | Varies by asset |
| 💻 Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader, TradingView, Pepperstone Platform |
| 🛠Forex trading tools | Technical analysis, algorithmic trading, VPS |
| 🎓 Educational Resources | Trading guides, videos, webinars |
| 🇿🇦 South African-Specific Commodities | Gold, Platinum, Brent, etc. |
| 💳 Offers a ZAR Account? | No |
| ✅ Regulated by the FSCA? | No |
| 🏢 Local Office in South Africa? | No |
| 🤝 Affiliate Program for South Africans? | No |
| 🚀 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Fast Account Opening | Mostly CFDs Offered |
| Excellent Customer Support | Basic MetaTrader Platform |
| Negative Balance Protection | No Managed Accounts |
Our Findings
Pepperstone stands out because of its cost-effective commodity trading. However, there’s no ZAR-denominated account and no FSCA regulations.
9. IC MARKETS
IC Markets is a leading Forex service provider that offers trading solutions for active day traders and scalpers.
IC Markets provides access to market-leading trading platforms, low latency connectivity, and superior liquidity.
Min Deposit
USD 200
Regulators
ASIC, CySEC, FSA, SCB
Trading Platform
MT4, MT5, WebTrader
Crypto
Yes
Total Pairs
61
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
IC Markets offers access to over 22 CFDs on Commodities to trade across the MetaTrader4, MetaTrader5, and cTrader platforms.
Broker and Commodity Trading Features
| 🏷 Category | 📌 Details |
| 📅 Year Founded | 2007 |
| 🏛 Regulation | ASIC (Australia), CySEC (Cyprus), FSA (Seychelles) |
| 👤 Accounts | Standard, Raw Spread, cTrader Raw Spread |
| 🏋️♂️ Demo Account for Practicing Commodity Trading? | Yes |
| 🕌 Can I Trade Commodities on the Islamic Account? | Yes (Raw Spread and Standard accounts, holding fee applies to commodities) |
| 💱 Minor Account Currencies | EUR, GBP, AUD, NZD, JPY, SGD, CAD |
| 💵 Minimum Deposit | $200 USD / R3557 ZAR |
| 📉 Spreads on Commodities | From 0.020 pips (Raw Spread account, Brent) |
| 💰 Commissions | From $3.5 per lot per side |
| 📊 Swap Fees | Yes |
| ⚖️ Leverage on Commodities | Varies, overall maximum is 1:1000 |
| 🔢 Margin Requirements (Commodities) | 0.20% |
| 💻 Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader, TradingView, IC Social, ZuluTrade, Signal Start |
| 🛠Forex trading tools | AutoChartist, Trading Central, Forex calculators, VPS |
| 🎓 Educational Resources | Blog, eBooks, Video Tutorials, Market Analysis, Economic Calendar, etc. |
| 🇿🇦 South African-Specific Commodities | Brent, Gold, Corn |
| 💳 Offers a ZAR Account? | No information available |
| ✅ Regulated by the FSCA? | No |
| 🏢 Local Office in South Africa? | No |
| 🤝 Affiliate Program for South Africans? | Yes (CPA Affiliate Program) |
| 🚀 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low Forex Fees | Limited Product Selection |
| Easy Account Opening | Slow Chat Response |
Our Findings
Our findings show that IC Markets offers competitive spreads, high leverage options up to 1:500, and strong regulatory oversight, making it a top choice for commodity and forex traders.
10. XM
XM is a fair, trustworthy, and dependable Forex Service Provider that offers access to a wide range of markets, including Forex Trading, Cryptocurrencies Trading, Commodity Trading, Stocks, Metals, and Energies Trading.
Min Deposit
USD 5
Regulators
FSC, CySEC, ASIC,
Trading Platform
MT4, MT5
XM allows investors to Trade Forex, Cryptocurrencies, Individual Stocks, Commodities, Precious Metals, Energies, and Equity Indices.
Broker and Commodity Trading Features
| 🏷 Category | 📌 Details |
| 📅 Year Founded | 2009 |
| 🏛 Regulation | FSCA, IFSC, ASIC, CySEC, DFSA, FCA |
| 👤 Accounts | Micro, Standard, XM Ultra-Low, Shares |
| 🏋️♂️ Demo Account for Practicing Commodity Trading? | Yes |
| 🕌 Can I Trade Commodities on the Islamic Account? | Yes (Restrictions on eligible instruments) |
| 💱 Minor Account Currencies | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, SGD, ZAR |
| 💵 Minimum Deposit | $5 USD / R88 ZAR |
| 📉 Spreads on Commodities | From 1.6 (Ultra-Low Spread Account, Gold) |
| 💰 Commissions | None on most accounts; $1 per share for Shares Account |
| 📊 Swap Fees | Yes |
| ⚖️ Leverage on Commodities | Up to 1:1000 |
| 🔢 Margin Requirements (Commodities) | Based on leverage and account balance |
| 💻 Trading Platforms | MetaTrader 4, MetaTrader 5, XM App |
| 🛠Forex trading tools | Economic Calendar, Trading Signals, Market Analysis |
| 🎓 Educational Resources | Educational Videos, Platform Tutorials, Forex Seminars, Market Analysis |
| 🇿🇦 South African-Specific Commodities | Corn, Gold |
| 💳 Offers a ZAR Account? | Yes (but not for commodity trading) |
| ✅ Regulated by the FSCA? | Yes (License No. 49976) |
| 🏢 Local Office in South Africa? | Not specified |
| 🤝 Affiliate Program for South Africans? | Yes |
| 🚀 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Fast digital account opening | Account types vary according to jurisdiction |
Our Findings
Our findings on XM highlight it as a well-regulated broker offering competitive leverage, a wide range of commodity CFDs, and a user-friendly platform suitable for both beginner and experienced traders.
Best Commodity Trading
Conclusion
The 10 Best Brokers for Commodity Trading serve traders with various options that accommodate traders from different expertise ranges and plan their strategy and financial objectives.
AvaTrade, eToro, XTB, Axi, Pepperstone, IG, CMC Markets, Plus500, XM, and IC Markets lead as top brokers because they deliver competitive pricing structures together with regulatory guarantees and extensive commodity choices and powerful trading capabilities.
The selection of your brokerage depends on consideration of fees together with trading instruments and customer support quality which ensures a rounded trading experience that produces profits.
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Frequently Asked Questions
Can I trade commodities on margin with a commodity broker in South Africa?
Yes, many commodity brokers offer the ability to trade on margin, which allows traders to trade larger positions than they would be able to with their own capital. However, it’s important to be aware that trading on margin can increase the risk of losses as well as the potential returns.
How do commodity broker’s fees work?
Brokers for commodity trading in South Africa may charge fees for their services in a variety of ways, including commissions on trades, account maintenance fees, and platform fees. It’s important to check with the specific broker you’re interested in to find out their fee structure, and also consider if the broker’s fee structure aligns with your trading strategy and goals.
What types of commodity markets can I trade through a commodity broker in South Africa?
Commodity markets that can be traded through a commodity broker include energy markets such as crude oil and natural gas, precious metals such as gold and silver, agricultural markets such as wheat and corn, and industrial metals such as copper and aluminum.
What are the advantages of using a commodity broker?
Advantages of using a commodity broker include access to a wide range of commodity markets, professional trading tools and research, and the ability to trade with leverage, which can increase potential returns.
How do I choose a commodity broker?
When choosing a commodity broker, it’s important to consider factors such as the broker’s reputation, the trading platform they offer, the available commodity markets, the amount of leverage offered, the customer service and support, and the fees and commissions. It’s also important to read reviews and compare the offerings of multiple brokers before making a decision.
Top 4 Brokers
