When it comes to Precious Metals Commodity Forex Brokers, the Best Brokers available in any country across the globe, will offer their clients the choice to trade on the best commodities such as water (fresh water), oil and for the purpose of this article, gold!
Choose your quick section of our Precious Metals Commodity Forex Brokers below.
Our 5 Best Handpicked Precious Metals Commodity Forex Brokers Revealed:
- ✔️BDSwiss
- ✔️OctaFX
- ✔️Tickmill
- Saxo Bank
- Dukascopy
- What affects the price of a precious metal?
- Overview of the Most popular Precious Metal
The term Commodity refers to a wide range of goods which are available for trade on the financial Market. The type of commodity will fall in one of two categories: Hard or Soft. Precious metal refers to metals which are classified as rare and has a high economic value. Here is an overview of the Best Regulated Precious Metals Forex Brokers and Trading Platforms.
BDSwiss
BDSwiss is a Forex and CFD broker which is regulated by CySEC. BDSwiss offers a selection of live trading accounts for real time investment. BDSwiss is one of the Best brokers in the world to date.
Pros and Cons
| Pros | Cons |
| 250+ instruments | No US clients |
| Well Regulated | No Fixed Spread Accounts |
| Commission Free Accounts | |
| Free VPS | |
| Daily Trading Alerts |
BDSwiss offers full demo and Islamic accounts and traders can fund their account via one of multiple choices. Educational Resources may be made available.
Trading Benefits
| Trading Features | Accounts Offered | Funding Methods |
| Negative Balance Protection | Classic | Wire Transfer |
| Multiple Trading Accounts | VIP | Credit Card |
| No Deposit or Withdrawal fee | Raw | Skrill |
| Neteller |
BDSwiss offers multilingual customer support 24/5 via Live Chat, Telephone, Email, Call Back, WhatsApp, Telegram and an FAQ section. Customer Support and Site content may be made available in English and a selection of other languages.
OctaFX
OctaFX is an online broker which was founded in 2011, offering Forex trading. As OctaFX is regulated by the Financial Conduct Authority (FCA), each new client must pass a few basic compliance checks when signing up for an account. OctaFX has won numerous industry awards over the course of 9 years and is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. Trading tools for trade execution will be made available via the trading platforms on offer.
Pros and Cons
| Pros | Cons |
| Used by 300,000+ traders | Doesn’t offer VPS |
| Established in 2011 | Limited range of instruments |
| Regulated by FSA | Not FCA Regulated |
| Min. deposit from $5 |
OctaFX provides an array of educational resources to assist beginner traders to become more experienced and even professionals in trading. OctaFX offers a selection of live trading accounts for real time investment.
Trading Benefits
| Trading benefits | Accounts Offered | Funding Methods |
| Allows scalping | Demo account | Credit cards |
| Allows hedging | Micro account | Bank Transfer |
| Offers STP | Mini account | Neteller |
| Low min deposit | Standard account | |
| Guaranteed stop loss | Zero spread account | |
| Negative Balance Protection | STP account | |
| Islamic account |
Customer Support is available 24/5 via Live Chat, Email, Phone, WhatsApp and an Enquiry Form across multiple languages including English, Indonesian, Hindi, Chinese and more.
Tickmill
Tickmill is a Forex and CFD broker with licences from the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA).
Pros and Cons
| Pros | Cons |
| Segregates client funds | Limited range of instruments |
| Established in 2014 | Not ASIC Regulated |
| Regulated by Financial Conduct Authority | |
| Min. deposit from $25 |
Tickmill offers trading on 80+ markets covering Forex, Indices, Commodities and Bonds on the MetaTrader 4 trading platform for Windows, Mac, Web, Android and iOS.
Trading Benefits
| Trading Features: | Accounts offered: | Funding methods: |
| Allows scalping | Demo account | Credit cards |
| Allows hedging | Mini account | Bank Transfer |
| Offers STP | Standard account | Neteller |
| Low min deposit | Zero spread account | |
| ECN account | ||
| Islamic account |
Multilingual client service is available via Telephone, Email, Online Contact Form and Live Chat. Customer Support and Site content may be made available in English and a selection of other languages.
Saxo Bank
Saxo is a globally regulated, multi-asset class broker which offers traders the option to trade on more than 40,000 instruments covering Forex, CFDs, Stocks, Options, ETFs, Commodities, Futures, Bonds and Mutual Funds from a single account across multiple platforms including their own – SaxoTraderGO and professional-grade SaxoTraderPRO.
Pros and Cons
| Pros | Cons |
| Segregates client funds | Doesn’t allow hedging |
| Established in 2012 | Limited range of instruments |
| Regulated by Financial Conduct Authority | Not ASIC Regulated |
| Min. deposit from $6,500 |
The Saxo Group is regulated in 15 jurisdictions including authorisation from the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Financial Services Agency of Japan (FSA) and many more.
Trading Benefits
| Trading Features: | Accounts offered: | Funding methods: |
| Allows scalping | Demo account | Credit cards |
| Offers STP | Mini account | Bank Transfer |
| Low min deposit | Standard account | Payoneer |
| ECN account |
Customer support is available in nearly 30 different languages via phone, email and an FAQ section. Customer Support and Site content may be made available in English and a selection of other languages.
Dukascopy
Dukascopy is an online forex & CFD broker headquartered in Geneva, Switzerland with 2 subsidiaries operating in the online trading space: Dukascopy Europe IBS AS based in Latvia and Dukascopy Japan K.K. based out of Tokyo. The two subsidiaries are regulated by their respective countries. Dukascopy Bank is a major Swiss financial institution, which as a whole is regulated by the Swiss Financial Market Supervisory Authority (FINMA), both as a bank and a securities dealer.
Pros and Cons
| Pros | Cons |
| Multiple Trading Tools | No US Clients |
| Deposit Insurance Scheme | Restricted Leverage |
| Expert News and Analysis | No MetaTrader 5 |
Trading instruments on offer include forex, CFDs based on cryptocurrencies, indices, bonds, stocks, and commodities, as well as binary options across the MetaTrader 4 (MT4) and JForex trading platforms. Accounts on offer are live, demo and a gold account. Some of the best trading tools for trade executions will be made available via the trading platforms on offer.
Trading Benefits
| Trading Features | Accounts Offered | Funding Methods |
| Allows scalping | Demo account | Wire Transfer |
| Allows hedging | Micro account | Credit/Debit |
| Offers STP | Mini account | Bitcoin |
| Low min deposit | Standard account | |
| ECN account | ||
| Islamic account |
Customer service is available via social media, live chat and a call-back request.
What affects the price of a precious metal?
Supply and demand
As with any product or service, a shortage or an increased need will make these commodities more valuable. For example, if an unscheduled interruption occurs at a major silver mine which halts production, silver prices could see an increase over a short term. There will always be a certain level of risk involved.
Economic uncertainty
In times of economic and political instability, precious metal investment is traditionally seen as a safe haven due to their lasting value.
Industrial output
Precious metal will have a huge range of industrial uses, which may include the manufacturing of automotive parts, medical devices, electronics and jewellery. New applications are continuously being developed and as demand for these selected goods grows, so will the demand for these commodities.
Strength of the U.S dollar
Precious metal commodities are U.S dollar-denominated and are particularly vulnerable to fluctuations in the value of the U.S Dollar. When the U.S dollar falls, precious metal commodities are a good place to store USD. The USD or U.S dollar is the official currency of the United States of America. The United States dollar, or U.S dollar, is made up of 100 cents and is represented by the symbol $ or US$. The U.S dollar is not only seen as a benchmark currency but it (the U.S dollar) is most-used currency in transactions across the globe. The United States of America is a country primarily located in North America. The country consists of 50 states, a federal district, five major self-governing territories, 326 Indian reservations, and some minor possessions. At 3.8 million square miles, the country is the third- or fourth-largest country by total area in any part the world.
Overview of the Most popular Precious Metal
Gold
Gold is best known for its durability as it does not rust or corrode, its malleability, and the ability to conduct both heat and electricity. Gold is best used in industrial applications such as dentistry and electronics, but its main use is jewellery or as a form of currency. Gold will mainly trade as a function of sentiment and its price is less affected by the laws of supply and demand. Most mined gold will be stored as bullion. Gold is used extensively in jewellery design, either in pure form or as an alloy and the term ‘carat’ will indicate the amount of gold present in an alloy. 24-carat will refer to pure gold, but it is very soft. 18- and 9-carat gold alloys are more commonly used as they are more durable. Gold is also used for coinage, and has been used as standard for monetary systems in multiple countries across the globe.
Best Examples of Gold Use: Jewellery and Coinage
Silver and Silver Bullion
Silver is known as a store of value and an industrial metal. The price of Silver is more volatile than that of Gold. Silver Bullion refers to any piece of highly concentrated silver which is typically defined as 99% pure. Bullion is generally intended for investment purposes and will come in the form of bars or coins.
Best Examples of Silver use: Jewellery and Water Purification
Platinum
Platinum is traded 24/7 on the global commodities markets. Platinum may fetch a higher price (per troy ounce) than gold simply because it is much rarer.
Best Examples of Platinum Use: Jewellery and Dentistry
Conclusion
Precious Metals vary in price due to various factors which may include their scarcity, their use in industrial processes, and the commodities role throughout history as a store of value. The most popular precious metal includes gold, platinum, and silver.
Another word for Regulation when it comes to trading is safety! The Bottom line is that customers who choose to work with a regulated firm will receive a level of safety and control which unregulated Brokers will be unable to offer. Every trader should take a number of factors into account before making a final broker choice. Potential Firms should be compared side by side in order to see what they have on offer. This will include currency calculators, price to trade, practice or demo accounts, method of funding, charts, trading news, market research and news, platforms available for computer use, account types, the number of currencies and products available for trade. In order to trade, customers must choose a Broker. The Prices or Amount required to start trading in currencies and commodities will differ between brokers and the right broker choice will be dependent on the trader themselves.
FAQs
Are Precious metals traded on the Stock Market?
Yes. The stock market is another popular setting for commodity investment.
Is Gold used as a Currency?
Under a free market system, gold is a currency.
Is there a risk associated with Precious Metal trading?
Yes, there is a price risk involved with Precious Metal investment, as with any other commodity or currency trade.
Is Commodities Trading a Scam?
No. The best Brokers in the world will offer their traders access to commodities trading. However, clients should keep in mind that most sites on the web will make use of cookies. Cookies collect a customer’s data and clients should set their data preference before filling in single word or paying any money. Clients should take steps to protect themselves, their money and their personal information, as investment scams are very real. A bad choice may lead to loss. Be it loss of personal information on money invested.
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