5 Best Silver Trading Brokers in 2022

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Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Silver is considered more volatile than major Forex currency pairs. Almost all Forex / CFD brokers offer CFD trading in major precious metals such as silver. We have carefully reviewed all Forex brokers offering trading in silver, check out our top choices of silver trading brokers listed below.

1
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Best all around broker
High floating leverage + fast execution
2
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
ECN-style trading
Daily market research and Autochartist access
3
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
High level regulation in multiple jurisdictions
Impressive range of tradeable assets including vanilla options and gold options

CFD service 72% lose money

4
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Best platform for new Forex traders
Trailing stop losses
Get Started

CFD service 72% lose money

5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Most extensive crypto derivatives offering. Choice of 250+ Crypto CFDs
Multiple funding and swift withdrawal options
Ultra-low spreads across all Crypto derivatives

FXTM, Best all-around: high floating leverage + fast execution.
FP Markets, ECN trading with leverage up to 1:500.
AvaTrade, Highly regulated, choice of fixed or floating spreads.
Plus500, Wide range of CFDs + trailing stop losses.
Eightcap, Competitive pricing + excellent daily videos.

FXTM

5.0/5 in this category
In Summary
Best all-around: high floating leverage + fast execution

ForexTime or FXTM is one of the best CDF and forex brokers in the world. The company was founded a decade ago in 2011 and since then they have become one of the most trusted and reputable operators in the industry. FXTM operates from three locations, namely Cyprus, the United Kingdom, and Mauritius. Through FXTM, traders can practice direct trading which means that when buying stocks, traders take direct legal ownership of said stocks. FXTM is regulated and overseen by CySEC in Cyprus, the FSCA in South Africa, the FCA in the United Kingdom, and the FSC in Mauritius.

Pros

  • Excellent commission-based Forex pricing environment and transparency

  • Upgraded MT4/MT5 trading platforms plus proprietary mobile trading app

  • Quality market research and educational content for beginner traders

  • Proprietary copy trading platform, low minimum deposit, and high leverage

Cons

  • Limited choice of cryptocurrencies and commodities

FP Markets

5.0/5 in this category
In Summary
ECN trading with leverage up to 1:500

FP Markets was founded in 2005 and is currently available to users in more than 80 different countries across the globe and operates with a competitive commission-based Forex cost structure. Based in Australia, this highly trusted forex broker currently operates with over 1 billion dollars of trading volume every day. FP Markets provides traders with an MT4 and MT5 trading platform where they can access a library of more than 10 thousand equity CDFs, 63 currency pairs, 10 cryptos, 24 index CDFs, and more. They are a regulated forex broker being overseen by the ASIC in Australia and CySEC in Cyprus.

Pros

  • Choice of trading platforms and auxiliary trading tools

  • Very competitive cost structure and excellent asset selection

  • Low minimum deposit requirement and leverage of up to 1:500

  • Well-regulated and trustworthy

Cons

  • Availability of Iress geographically restricted

AvaTrade

5.0/5 in this category
In Summary
Highly regulated, choice of fixed or floating spreads

AvaTrade is an Irish-based forex broker that is regarded as one of the best and most reputable in the industry. They offer new traders the information they need to educate themselves and make intelligent decisions when it comes to buying and selling assets, thanks to their educational partner SharpTrade. Traders can choose from more than 50 currencies, 16 cryptocurrencies, 27 metals and commodities, more than 30 index CDFs, more than 600 stock CDFs, and much more. The CBI, the FSC, the ASIC, the FSCA, the FSA, the FFA, the ADGM, and the ISA are the eight regulators that regulate AvaTrade.

Plus500

4.5/5 in this category
In Summary
Wide range of CFDs + trailing stop losses

Plus500 was founded in 2008 and has been in the forex sector for a total of 13 years, during which time they have grown to become one of the most well-known forex brokers for their innovative and user-friendly forex trading platform. Because the firm's headquarters are in Sydney, Australia, the Australian Securities and Investments Commission have granted the company certification. The Financial Services Board, the Monetary Authority of Singapore, the Financial Conduct Authority, the Financial Services Board, and the Cyprus Securities and Exchange Commission are among the regulators that regulate the corporation.

Pros

  • Well-regulated globally

  • Broad asset selection in equities and options

  • Guaranteed stop-loss order

Cons

  • Low leverage for retail traders

  • Sub-standard trading platform without support for automated or social trading

  • No research and limited, below-average educational content

  • Lack of trading tools

Eightcap

4.5/5 in this category
In Summary
Competitive pricing + excellent daily videos

Eightcap is a financial services provider and forex broker that is located in Australia. This esteemed company that operates on an international level but is based in Australia. Their international services expand to their language choices with the website being accessible in English, German, French, Spanish, Italian, and other languages. The broker is overseen by the Australian Securities and Investment Commission and the Vanuatu Financial Services Commission. Eightcap has joined forces with Capitalised.ai with the aim of offering their clients automated transactions. The company has been live for 12 years and with the guarantee of two reputable regulators, users can feel rest assured when they make use of this forex broker.

Pros

  • Low minimum deposit and high leverage of up to 1:500

  • Competitive cost structure

  • Excellent technology infrastructure and seasoned management team

  • Daily research and quality educational content

Cons

  • Limited leverage in some areas

Silver Trading Regulations & Fees

Once you have decided that you want to trade silver, you will have plenty of choice of brokers. The most important considerations you should have in making your final choice are the broker’s regulation and reputation, fees, and range of other assets offered. The best approach is to make a shortlist based upon these factors then compare our assessments to see what will give you the best deal for your trading style.

The major issues to watch out for with trading silver are relatively high spreads and commissions and overnight financing (swap) fees, on both the long and short sides. Relative to Forex currency pairs, these all tend to be higher. Check the real-time data in these areas carefully when comparing brokers offering trading in silver.

High swap rates can quickly erode capital, especially if a silver trade remains open for an extended period in a flat market. Some trading platforms will list your broker’s applicable overnight financing costs. While it is impossible to gauge how long a silver position should best remain open, having a firm grasp on the current swap rates charged by brokers will allow traders to plan and determine if their portfolio can afford to buy or sell silver.

MT4 traders can easily access swap rates from their platform by following these steps:

1. Right-click on silver or XAG/USD (this is often used as a symbol for silver quoted in USD terms) in the Market Watch window and select Specification.

2. Scroll down until you see Swap Long and Swap Short.

Many traders overlook silver, focusing instead on gold alone. This is a mistake as although the two precious metals have historically shown a high positive correlation in their price movements, the opportunity to benefit from diversification between the two remains, as silver has far more commercial demand than gold. Silver can also be used as a component to build smart hedges.

The best silver trading brokers will also provide excellent research tools, including access to streaming fundamental news releases, which can impact precious metals strongly. Some silver trading brokers will offer gold and silver quoted in other currencies than the USD, especially in the commodity currencies but also often denominated in euro, the British pound and Japanese yen. These crosses can allow for the easy deployment of more sophisticated trading strategies. Where such silver crosses are offered, it is important to check that the spreads charged are less than they would be if you had created the cross synthetically. For example, if you want to trade silver against the Australian dollar, check the combined spread on AUD/USD and XAG/USD to make sure it is less than what is quoted for AUD/XAG –some brokers have been seen to fail here. 

Huzefa Hamid

I’m a trader and manage my own capital. I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades. Today, I am also a Senior Analyst for DailyForex.com. I began trading the markets in the early 1990s, at the age of sixteen. I had a few hundred British pounds saved up (I grew up in England), with which I was able to open a small account with some help from my Dad. I started my trading journey by buying UK equities that I had read about in the business sections of newspapers. The 1990s were a bull market, so naturally, I made money. I was fortunate enough in my early twenties to have a friend that recommended a Technical Analysis course run by a British trader who emphasized raw chart analysis without indicators. Having this first-principles approach to charts influences how I trade to this day.