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Best Metal Trading Platforms of 2024

BrokerNotes.co

Written by BrokerNotes.co

March 14, 2024

Popular Broker For Trading Metals

London Capital Group is a UK Broker that offers over 5,000 asset classes for traders. Spread betting services which allow individuals to trade a wide selection of precious and non precious metals. Some of the metal products available to trade with London Capital Group include:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best Forex Brokers for Trading Metals

Here are the forex brokers for trading metals.

  • IG
    - 9.9/10 Overall
  • Interactive Brokers - 9.9/10 Overall
  • Saxo - 9.7/10 Overall
  • CMC Markets - 9.6/10 Overall
  • FOREX.com
    - 9.4/10 Overall
  • Charles Schwab - 9.3/10 Overall
  • City Index - 9.3/10 Overall
  • XTB - 9.1/10 Overall
  • eToro - 8.8/10 Overall
IG
star 9.9/10 Overall
Minimum Deposit£250.00
Tier-1 Licenses8
Tradeable Symbols (Total)19537

Year after year, IG has shown itself to be the best broker in the forex industry and a fantastic choice for forex traders. Highly trusted and regulated across the globe, IG delivers a wide variety of rich features, market research, and powerful trading tools. Fans of copy trading will appreciate IG’s seamless integration of trading signals into its web platform. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Visit Site

Join 239,000+ traders worldwide.

(Trading forex carries a high level of risk.)

Interactive Brokers
star 9.9/10 Overall
Minimum Deposit$0
Tier-1 Licenses9
Tradeable Symbols (Total)8500

Interactive Brokers is a highly trusted broker regulated across the globe that delivers access to over 100 markets, including forex and CFDs. Its Trader Workstation (TWS) platform offers a variety of advanced trading tools for experienced traders, and IBKR's web-based platform is great for beginner forex traders. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
Saxo
star 9.7/10 Overall
Minimum Deposit$0
Tier-1 Licenses7
Tradeable Symbols (Total)70000

Saxo is a highly trusted broker that operates multiple banks and is regulated across the globe. Saxo delivers an incredible cross-platform experience alongside powerful research and a vast selection of more than 60,000 symbols across multiple asset classes. It’s worth noting that minimum deposits at Saxo are steep. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
CMC Markets
star 9.6/10 Overall
Minimum Deposit$0
Tier-1 Licenses5
Tradeable Symbols (Total)11925

CMC Markets is a highly trusted multi-asset broker regulated in multiple Tier-1 jurisdictions. CMC's powerful Next Generation trading platform for web and mobile delivers a huge selection of markets and a fantastic user experience. CMC Markets also ranks highly for its high-quality research and educational content. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
FOREX.com
star 9.4/10 Overall
Minimum Deposit$100
Tier-1 Licenses7
Tradeable Symbols (Total)5500

FOREX.com is a highly trusted brand with a long history of offering forex in the U.S. and across the globe. FOREX.com offers its own flagship trading platforms for web and desktop, as well as the full MetaTrader suite. Though its pricing is higher than average, FOREX.com is a balanced choice for traders of all experience levels. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Visit Site

A Global Market Leader!

(69%-77.7% of retail CFD accounts lose money.)

Charles Schwab
star 9.3/10 Overall
Minimum Deposit$0
Tier-1 Licenses5
Tradeable Symbols (Total)40000

Charles Schwab is a leader in platform technology and trusted by millions of investors globally with trillions in assets under its brands. Available exclusively to U.S. residents, Charles Schwab's forex offering consists of just over 70 currency pairs, along with powerful research and trading tools. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
City Index
star 9.3/10 Overall
Minimum Deposit£100.00
Tier-1 Licenses7
Tradeable Symbols (Total)13500

City Index, part of StoneX Group, is an award-winning, highly trusted broker with a long history of offering forex and CFDs across its global offices. City Index delivers a well-designed mobile trading app and a powerful web platform, as well as a large range of tradeable markets (though pricing is just average). Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
XTB
star 9.1/10 Overall
Minimum Deposit$0 info
Tier-1 Licenses2
Tradeable Symbols (Total)6100

XTB is a highly trusted brand with a proprietary platform (xStation 5) that delivers a rich selection of trading tools. XTB also offers CFDs for a wide range of asset classes, including multiple cryptocurrencies. Beginners will appreciate XTB's excellent educational content and the hundreds of lessons that are available via its Trading Academy.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
eToro
star 8.8/10 Overall
Minimum Deposit$10-$10,000
Tier-1 Licenses3
Tradeable Symbols (Total)3479

Best known for its copy trading platform suite, eToro is a highly trusted broker offering a large selection of cryptocurrency products, CFDs, shares, forex pairs, and a wide range of powerful trading tools. It’s worth noting that eToro is not a discount broker (though it offers zero-dollar commissions for U.S. stocks). Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)No
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No

*All information collected from LCG, see website for full terms and conditions. Your capital is at risk. Last updated on January 26, 2017.

Commodities Trading of Precious and Non-Precious Metals

Gold is one of most the popular and most regularly traded metal commodity today. Over $27.5 billion of gold was cleared at the London Bullion Market in November 2016 alone.

Metals are popular commodities for traders because of the liquidity provided by the amount of activity from the constant demand for metals around the world. Several different metals may be traded on the commodity markets and the more popular ones include gold, silver, platinum, and industrial metals such as zinc, copper, lead, tin, aluminium, steel, nickel, molybdenum and others.

There are two main categories of metals which are:

  • Precious metals such as gold and silver are used in the production of jewellery and in the manufacturing of electronics.
  • Non-precious metals are used for industrial building processes.

History of Precious and Non-Precious Metal Trading

Metals were first used by prehistoric settlers to make weapons and tools. Prior to making tools and weapons with metals, stone was the common raw material and this continued between 10,000 and 4500 BC. By 6000 BC gold was discovered and it because popular because of its scarcity as well as its great value. It was used to make items of jewellery. Copper was discovered by 4200 BC and was also used to make weapons. Silver came on the scene in 4000 BC and was used as currency in the Roman and Chinese Empires. Other metals such as lead, bronze, tin, iron, mercury, nickel, uranium, titanium, chromium, aluminium and several others were discovered later on.

Metal trading first became popular in places like London with the opening of the Royal Exchange in London in 1571. Futures contracts trading of metals began after the industrial revolution in the UK in the 19th century. Merchants could now protect themselves against changing metal prices and trading picked up. LMEX index contracts were established in the year 2000 and several different metals began to be traded on the London Metals Exchange (LME) and on several other exchanges across the world. LME is now the worlds largest metals futures exchange.

BrokerNotes.co 2023 Overall Rankings

To recap, here are our top forex brokers for 2023, sorted by Overall ranking.

Company Overall Rating Minimum Deposit Average Spread EUR/USD - Standard Trust Score Tradeable Symbols (Total) Read Review Visit Site
IG logoIG 9.9 £250.00 0.98 info 99 19537 IG Review Visit Site
Interactive Brokers logoInteractive Brokers 9.9 $0 0.63 info 99 8500 Interactive Brokers Review Read Review
Saxo logoSaxo 9.7 $0 1.1 info 99 70000 Saxo Review Read Review
CMC Markets logoCMC Markets 9.6 $0 0.61 info 99 11925 CMC Markets Review Read Review
FOREX.com logoFOREX.com 9.4 $100 1.4 info 99 5500 FOREX.com Review Visit Site
Charles Schwab logoCharles Schwab 9.3 $0 1.25 info 99 40000 Charles Schwab Review Read Review
City Index logoCity Index 9.3 £100.00 1.4 info 99 13500 City Index Review Read Review
XTB logoXTB 9.1 $0 info 1.00 info 96 6100 XTB Group Review
eToro logoeToro 8.8 $10-$10,000 1 info 90 3479 eToro Review Read Review
Swissquote logoSwissquote 8.8 $1000 N/A info 99 472 Swissquote Review
Capital.com logoCapital.com 8.7 $20 info 0.67 info 87 3007 Capital.com Review Read Review
AvaTrade logoAvaTrade 8.7 $100 0.92 info 94 1260 AvaTrade Review Read Review
Plus500 logoPlus500 8.6 €100 1.5 info 99 5500 info Plus500 Review Read Review
OANDA logoOANDA 8.5 $0 1.57 info 93 1744 info OANDA Review Read Review
FXCM logoFXCM 8.5 Starts from $50 0.74 info 95 440 FXCM Review Read Review
Admirals logoAdmirals 8.5 $100 0.8 info 93 8702 Admiral Markets Review Read Review
Pepperstone logoPepperstone 8.4 $200 0.77 info 95 2342 Pepperstone Review Read Review
XM Group logoXM Group 8.4 $5 1.6 info 88 1394 XM Group Review
FP Markets logoFP Markets 8.3 $100 AUD 1.1 info 87 10000 FP Markets Review Read Review
FxPro logoFxPro 8.1 $100 1.51 info 90 2249 FxPro Review Read Review
IC Markets logoIC Markets 8.1 $200 0.62 info 84 3583 IC Markets Review Read Review
Markets.com logoMarkets.com 8.1 $100 1.9 info 96 2179 Markets.com Review
Tickmill logoTickmill 8.1 $100 0.51 info 86 725 Tickmill Review Read Review
FinecoBank logoFinecoBank 8.0 $0 N/A info 94 9770 Fineco Bank Review Read Review
BlackBull Markets logoBlackBull Markets 8.0 $0 0.76 info 78 26000 BlackBull Markets Review Read Review
Vantage logoVantage 8.0 $50 1.30 info 90 1000 Vantage Review
HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets) 7.9 $20 0.6 info 88 1199 HYCM Review Read Review
HFM logoHFM 7.9 $0 1.2 info 86 3500 HFM Review Read Review
ThinkMarkets logoThinkMarkets 7.8 $0 info 1.1 info 92 4000 ThinkMarkets Review Read Review
FlowBank logoFlowBank 7.7 $0 N/A info 80 408600 FlowBank Review Read Review
DooPrime logoDooPrime 7.8 $100 N/A info 83 10000 DooPrime Review Read Review
Trading 212 logoTrading 212 7.7 €10 1.9 info 79 8025 Trading 212 Review
BDSwiss logoBDSwiss 7.7 $10-$5000 info 1.6 info 76 1081 BDSwiss Review Read Review
Trade Nation logoTrade Nation 7.6 $0 0.6 85 1000 Trade Nation Review
TMGM logoTMGM 7.6 $100 N/A info 83 12000 TMGM Review
Moneta Markets logoMoneta Markets 7.5 $50 1.27 info 72 1016 Moneta Markets Review
Eightcap logoEightcap 7.5 $100 1.0 info 85 736 Eightcap Review Read Review
MultiBank logoMultiBank 7.5 $50 N/A 84 1042
ACY Securities logoACY Securities 7.4 $50 1.2 info 75 2200 ACY Securities Review Read Review
RoboForex (RoboMarkets) logoRoboForex (RoboMarkets) 7.3 $100 1.4 info 71 12000 Roboforex (RoboMarkets) Review
VT Markets logoVT Markets 7.3 $100 1.2 info 70 1000 VT Markets Review
easyMarkets logoeasyMarkets 7.3 $50 0.9 info 80 199 easyMarkets Review Read Review
IronFX logoIronFX 7.2 $50 1.2 83 340 IronFX Review Read Review
Spreadex logoSpreadex 7.2 $0 0.81 info 71 10000 Spreadex Review
IFC Markets logoIFC Markets 7.2 $1 1.44 info 67 630 ATFX Review
Trade360 logoTrade360 7.2 $250 N/A info 76 1062 Trade360 Review
Octa logoOcta 7.2 $25 0.9 info 70 230 OctaFX Review
Axi logoAxi 7.1 $0 N/A info 81 175 Axitrader Review Read Review
TeleTrade logoTeleTrade 7.1 $100 N/A 71 500 Teletrade Review
GKFX logoGKFX 7.0 $0 N/A info 65 354 GKFX Review Read Review
Exness logoExness 7.0 $1 0.9 info 71 112 Exness Review Read Review
Vestle logoVestle 7.0 -1 N/A 78 750 Vestle Review
FXOpen logoFXOpen 7 $100 N/A info 80 87 FXOpen Review Read Review
FXPrimus logoFXPrimus 7.0 $100 N/A info 71 140 FXPrimus Review Visit Site
Forex4you logoForex4you 6.9 $0 N/A info 61 150 Forex4you Review Read Review
GBE brokers logoGBE brokers 6.8 $500 N/A info 71 500 GBE Brokers Review Read Review
Alpari logoAlpari 6.8 $20 N/A info 68 105 Alpari Review Read Review
TopFX logoTopFX 6.7 Depends on payment method N/A info 67 655 TopFX Review
Libertex (Forex Club) logoLibertex (Forex Club) 6.7 $10 N/A info 73 300 Libertex Review Read Review
LegacyFX logoLegacyFX 6.7 $500 N/A 67 425 LegacyFX Review Read Review
FXGT.com logoFXGT.com 6.6 $5 N/A 69 117 FXGT Review Read Review
ATFX logoATFX 6.5 $500 N/A info 73 150 ATFX Review Read Review
Xtrade logoXtrade 6.5 $250 N/A info 80 142 Xtrade Review

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At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.

Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.

Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).

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We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. Learn more about our AI Policy and How We Test.

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There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.

About the Editorial Team

BrokerNotes.co
BrokerNotes.co

BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.

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