CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% 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.
*All information collected from LCG, see website for full terms and conditions. Your capital is at risk. Last updated on January 26, 2017.
What is metal trading in forex?
Metal trading in forex typically refers to trading precious metals like gold (XAU/USD) and silver (XAG/USD) as currency pairs or CFDs. These assets behave similarly to major FX pairs in terms of spread, leverage, and trading hours. The key difference is that metal prices are driven by macroeconomic trends, like interest rates, inflation, industrial demand, and risk sentiment.
There’s been an uptick in the availability of base metals like copper, aluminium, and zinc on many CFD platforms in 2025. While not as liquid as gold or silver, they offer unique exposure to the industrial cycle, particularly for traders focused on China's economic activity or green energy infrastructure.
So while “metal trading” once meant just gold and silver, today’s platforms offer a broader spectrum. That gives traders more tools to diversify and align with macro themes.
compareMetals vs. commodities: What's the difference?
While all metals are commodities, not all commodities behave like metals. Metals often move with monetary policy and industrial cycles. Energy and agricultural commodities respond more to seasonal supply disruptions. This makes metals more predictable for macro traders using economic calendars and central bank signals.
Why trade metals like gold and silver?
Trading metals gives you access to assets that behave differently from traditional currencies. Gold is prized for its role as a hedge against inflation, currency devaluation, and market instability. Silver shares that quality but adds volatility and industrial sensitivity. Platinum and palladium, meanwhile, are more niche, moving with auto and green tech cycles.
For traders, metals offer the chance to speculate or hedge macro shifts. When USD weakens or real yields drop, gold often spikes. When industrial demand jumps or green energy subsidies expand, silver and base metals tend to follow.
question_answerCan you swing trade gold like a currency pair?
Absolutely, but be warned: metals respect technical zones but react violently to headlines. A well-timed swing trade on XAU/USD might work beautifully on a four-hour chart, but keep stops tight and monitor news. CPI reports and FOMC meetings can blow through levels in minutes.
What to look for in a metal trading platform
Not all platforms are equal when it comes to metals. Look for execution quality, pricing transparency, product depth, and regulation. These factors matter more in commodities, where volatility and slippage can cut deep.
Start with spreads and commission structure. As of 2025, competitive spreads on XAU/USD range from $0.5 to $2 per ounce, depending on account type and broker tier. Be wary of “zero spread” marketing, as these often come with commission charges or restrictive conditions. Silver spreads are often 3–8 cents per ounce.
Charting tools and order types also matter. Choose platforms offering real-time quotes, customizable charts, and advanced orders like trailing stops. Metals are highly technical, and clean charts can help you spot key levels fast.
The product range is also growing. Top-tier platforms now offer CFDs on copper, aluminium, and nickel, alongside gold and silver.
Most platforms also offer metal prices via OTC feeds, not direct exchange routing. This can affect pricing precision and slippage. Look for brokers that disclose whether your trade is routed through COMEX, LME, or internal matching engines.
How do metal trading fees compare in 2025?
Fees on metals have tightened in 2025, but real costs still vary across platforms. The headline spread is only part of the equation. You should also account for commissions, swap rates, and potential slippage.
Gold typically trades with spreads from $0.5 to $2 per ounce, with some ECN-style accounts offering tighter spreads plus a per-lot commission. Silver spreads are often wider in relative terms. During low liquidity periods, such as Asian session hours, those spreads can widen.
Swap fees, or rollover charges, vary by broker and depend on interest rate differentials. For example, a long gold position may incur negative swap fees, while short positions may offer a credit. Always check your broker’s live swap table before holding overnight.
comment_bankDon't forget margin requirements
Trading metals with leverage can be attractive, but watch your required margin. Gold often has lower leverage ratios than major currency pairs, especially under tighter regulatory regimes. If your margin hits 100%, you may be auto-liquidated with no warning.
Are metal trading platforms safe?
Safety starts with regulation, but it doesn’t end there. Trading with forex brokers regulated by Tier-1 bodies like the FCA (UK), ASIC (Australia), or CySEC (Cyprus) can give you more protection. These agencies enforce client fund segregation, minimum capital requirements, and dispute resolution frameworks.
Since most metals are traded via CFDs, platform execution models matter. Transparent brokers disclose whether they operate a dealing desk, STP/ECN model, or hybrid structure. Execution quality impacts slippage and trust.
Cybersecurity is also top-of-mind in 2025. Two-factor authentication, encrypted data, and fast, secure withdrawals are non-negotiables. The most reputable platforms make it easy to find terms, swap fees, and documents, without burying them in disclaimers.
ESG trends are reshaping metals. Some traders now favor “green metals” from traceable, low-impact mines. The LME is introducing sustainability classifications. If ethical sourcing matters to your strategy or your investors, ask your broker about provenance filters.
Is metal trading right for your strategy?
Whether metals fit your trading style depends on how you view the market.
If your strategy is macro-driven, metals like gold and silver offer clean exposure to inflation, interest rates, and geopolitical risk. For breakout traders, silver’s volatility is a gift. For swing traders, gold often respects technical levels.
Base metals like copper and nickel respond to industrial data and energy policy. Their moves are tied to real-world cycles like EV adoption, infrastructure spending, or even weather patterns affecting mines.
Risk is part of the process. Price gaps happen. Spreads widen. But with proper risk controls and a focused strategy, metals can be a rewarding addition to your portfolio.
access_timeTrade timing matters
Gold and silver follow news cycles. Use a trading calendar, especially for CPI, NFP, and Fed events. Many of the biggest XAU/USD breakouts come minutes after these reports.
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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).
Forex Risk Disclaimer
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
Founded in 2014 and acquired in 2021, BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. With over 60 brokers reviewed, our editorial team has published thousands of words of research to help our readers make informed choices.
Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.
Hannah Smith is a Staff Editor at BrokerNotes.co. With a background in SEO and years of experience in digital media, Hannah is focused on creating high-quality, data-driven content that helps investors make informed decisions. With a master's degree in English from North Carolina State University, she brings a strong foundation in writing, research, and editorial strategy to her work.
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