Many brokers offer other trading instruments in addition to the different currency pairs that are the mainstay of Forex trading. Included in the most popular assets are gold and silver.
This opportunity to trade gold and silver, in addition to currencies, through Forex brokers is providing an opportunity for traders to monetize their forecasts about various precious metals (silver, platinum or even palladium). Although the spread for gold and silver trading is usually high and the leverage is low trading these commodities whenever possible is an appropriate market idea.
Forex brokers usually use XAU/USD notation for spot gold contracts and XAG/USD for spot silver as a trading instrument. The team at Daily Forex has taken the top gold trading brokers and has compiled the comparison chart below.
Best all-around: high floating leverage + fast execution
Min. Deposit
$5
Bonus
Sign Up - 20%
Trading Platform
MetaTrader 4, MetaTrader 5
Max. Leverage
Flexible Leverage
Regulation
CySEC, FCA, IFSC
No dealing desk execution + wide range of trading apps
$300
None
MetaTrader 4, Proprietary platform, Web-based
1:50
FCA, ASIC
Best broker for social traders and crypto traders
$200
Web-based, Other
1:30
CySEC, FCA, ASIC
Highly regulated, choice of fixed or floating spreads
$100
Up To $5000
1:400
MiFID, Central Bank of Ireland, ASIC, FSC, BVIFSC
Excellent educational offerings
MetaTrader 4, Proprietary platform
1:300
CySEC, ASIC, FSB