Oil is one of the commodities that have become popular of late with Forex traders. With the price of oil so strongly connected to the currency rates, the oil market often brings a good chance to Forex traders to increase their usual profit through oil trading brokers.
Oil futures from NYMEX (West Texas Intermediate, or WTI) and ICE (Brent Crude) are usually part of the series of commodities offered by Forex brokers, together with the more popular commodities such as gold, silver, other metals. But not all Forex brokers offer their traders oil trading in addition to the other asset choices.
Oil is a volatile product that is driven by supply, political and environmental factors, and the demand of energy-driven nations. To choose a broker who offers oil trading, see the list below compiled by the team at Daily Forex.
Excellent educational offerings
MetaTrader 4, Proprietary platform
CySEC, ASIC, FSB
Best all-around: high floating leverage + fast execution
Sign Up - 20%
MetaTrader 4, MetaTrader 5
CySEC, FCA, IFSC
Best broker for social traders and crypto traders
CySEC, FCA, ASIC
Highly regulated, choice of fixed or floating spreads
Up To $5000
MetaTrader 4, Proprietary platform, Web-based
MiFID, Central Bank of Ireland, ASIC, FSC, BVIFSC
No dealing desk execution + wide range of trading apps