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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.
Huzefa Hamid
Gold is the world's oldest currency and used as a proxy for money. Several gold trading brokers specialize in this precious metal, but every online broker has added gold CFDs to their asset list. See below our top-rated Gold brokers.
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.
Deep liquidity & tight spreads with competitive swap rates
Negative balance protection & algorithmic and copy trading
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.
Three gold crosses, minimum spreads of 0.0 points & low swap rates
Floating leverage between 1:25 and 1:2000 & negative balance protection
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.
Raw spreads of 0.0 pips & average minimum fees of $0.08 on three gold crosses
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.
Gold trading with commission-free fees from $0.28 over market spreads.
VPS hosting for 24/5 low-latency gold trading with fast order execution.
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.
NFA regulated broker
In-house research and excellent educational center
Gold traders get average spreads of 0.2 points at MultiBankFX, making it one of the cheapest gold brokers. Deep liquidity provided by dozens of tier-1 providers ensures gold traders can execute orders at visible spreads, which lowers trading fees and increases profits. MultiBankFX offers maximum leverage of 1:200 in some jurisdictions, with negative balance protection in a highly regulated and secure trading environment. Swap rates on leveraged overnight gold trades are typically competitive, including positive swap rates on short positions, if applicable. Algorithmic gold trading is available in the MT4/MT5 trading platforms. MultiBankFX also supports gold copy trading via its proprietary copy trading service.
Pros
20,000 assets offering broad coverage of financial markets
Raw spreads from 0 pips and maximum leverage of 1:500
MAM/PAMM accounts and proprietary copy trading platform
ECN trading with deep liquidity and no requotes
Very
wide selection of asset classes
Competitive Spreads
Cons
Access to raw spreads
requires a $5,000 minimum deposit on the ECN account
Best all-around broker with high floating leverage and fast execution
Gold traders at FXTM have three assets, as this multi-asset broker provides clients with the XAU/USD, the XAU/EUR, and the XAU/GBP. It is an excellent selection for Forex traders who use gold as part of their diversification strategy. It is also outstanding for pure gold traders who seek cross-currency trading opportunities. While the minimum spread in the commission-based ECN account commences from 5.0 pips, FXTM lists the average at 33.0 pips. The FXTM ECN MT5 account shows them at 9.0 pips and 15.0 pips, respectively. Traders at FXTM may choose between the MT4 and MT5, upgraded with six add-ons.
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
No cryptocurrencies and limited choice of
commodities
The commission-free account structure at FP Markets offers gold traders a minimum spread of 16.0 pips and an average one of 29.0 pips on the XAU/USD. Traders may also transact in the XAU/AUD, where the mark-ups are 56.0 pips and 88.0 pips, respectively. Traders in the commission-based alternative have a better offer with raw spreads of 0.0 pips and an average of 13.0 pips. They increase to 46.0 pips and 78.0 pips for the XAU/AUD. The commission is a very competitive $6.00 per round lot with a no dealing desk (NDD) execution model. FP Markets has no restrictions on trading strategies. With an execution speed below 40 milliseconds, gold traders who wish to scalp will enjoy an edge.
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
Highly regulated, choice of fixed or floating spreads
AvaTrade offers gold traders CFDs, options, and ETFs, allowing traders to deploy complex gold trading strategies with a multi-tier approach. It also features a gold trading introduction, placing it among the best gold brokers. The spun-out Ava Academy provides an industry-leading educational platform for all trading-related matters, while the platform choices at AvaTrade grant every strategy with a custom-tailored solution from one of the best-regulated brokers.
Trading Central services upgrade WebTrader and AvaTradeGO, while option traders get Ava Options. AvaTrade upgrades MT4/MT5 with the Guardian Angel plugin, and the fee-based Ava Protect insurance policy protects against losing trades.
Pros
High-quality educational offering via SharpTrader
Excellent choice of trading platforms catering to various trading needs
Broad asset selection and cross-asset diversification opportunities
Well-regulated and trusted broker with oversight from a central bank
If you are looking for the best US Forex broker, a true global market leader like Forex.com should be on your list. They have been connecting traders to the world’s most popular financial markets for over 15 years.
Unique Features
Name of the Regulator
CFTC, FCA, NFA, FSA, ASIC, IIROC, CIMA
Year Founded
2001
Type of Broker
ECN/STP, Market Maker
Minimum Deposit
$100
Average Trading Cost EUR/USD
1.1 pips
Average Trading Cost GBP/USD
1.3 pips
Average Trading Cost Gold
$0.63
Type of Platform
MetaTrader 4, Proprietary platform
Type of Platform~this is number values of the attribute~
64,68
Islamic Account
Negative Balance Protection
Automated Trading
Social/Copy Trading
As a US trader, you can be comfortable knowing that Forex.com meets all necessary regulations that are required of Forex brokers accepting US clients. Forex.com takes the protection of customer funds very seriously by holding deposits with top-tier banks and having trust letters in place to ensure client money remains segregated from the assets of the bank. That means as a US trader, your money is ring-fenced from the operations of Forex.com and the banks that hold deposits. As of the time of writing this review, Forex.com caries capital in excess of its regulatory requirement. Forex.com is owned by StoneX Group, a publicly traded company on the NASDAQ exchange, meaning it must meet the highest standards of corporate governance, financial reporting, and disclosure. This makes Forex.com is one of the most financially stable US Forex brokers that you could choose for your trading.
Forex.com is committed to execution quality and transparency. In January 2011, it became the first Forex broker in the world to introduce a Trade Execution Scorecard on their website. Over 99% of their trades are executed in less than 1 second, and their average execution speed is 0.05 seconds. In fact, 99.99% of their trades are successfully executed.
Forex.com offers its own Advanced Trading Platform with sophisticated features and integrated trading tools designed for serious traders. The software platform can be used as a desktop application or accessed through a web browser, tablet, or smartphone.
Forex.com also offers MetaTrader 4 (MT4) to its traders along with a Virtual Private Server facility for MetaTrader “Expert Advisors”– these are automated software that can trade for you on your behalf according to preset rules and can even trade for you while your computer is switched off.
Forex.com has a live monthly webinar especially for the Non-Farm Payroll announcement – the biggest economic announcement in the Forex world. If you enjoy trading news announcements, this is the webinar to join!
Forex.com is best for regulatory compliance, trading platforms, and trading software that provides ultrafast execution speed and transparency of performance.
Gold, like all other assets, is primarily priced in US dollars. It often enjoys an inverse relationship with it. Since the global economy became more diversified, calls to quote commodities in other currencies or a basket of currencies continue to gain traction. When volatility in financial markets spikes, many traders rush into gold, a safe-haven asset.
Irrelevant to the trading strategy or assets, gold is part of many portfolios. It offers an excellent diversification trade, and many Forex traders engage in gold trading. It is a highly liquid asset, offers tremendous trading opportunities, and represents an excellent long-term investment. With global debt exploding, gold soared to new all-time highs, which is a trend likely to remain in place this decade and beyond. Numerous ways to trade gold adds to the versatility of it. Institutional traders, central banks, professional traders, and retail traders are all active in the gold trade. While the first three engage in physical gold transactions and futures trading, retail traders gain exposure primarily through derivatives trading via options and CFDs, which excludes the logistics associated with trading gold. It does require a trustworthy broker, which is why we have researched the best gold brokers for you.
Choosing the right gold broker will ensure that traders earn more money per trade, have a competitive product and services portfolio, and manage their accounts with a secure, reliable, and trustworthy broker. We have laid the groundwork and created our list of the best gold brokers. Traders who wish to conduct their research should pay attention to the below criteria to ensure that their choice will provide them with a beneficial trading environment.
Gold Trading Regulation
I recommend this as the first step in narrowing the long list of gold broker choices. Regulators demand that brokers segregate client deposits from corporate funds. Therefore, the broker cannot use them for any internal activities. It ensures the security of your hard earn capital and the swift withdrawal of your profits. The regulatory landscape is changing, and traders can find a business-friendly and trustworthy broker in many jurisdictions. In the current environment, EU brokers became the least competitive ones, while Australia, South Africa, and a host of offshore regulators provide the best trading environments. The UK could rejoin the group if it implements changes following Brexit.
Gold Trading Platform
Most retail traders will trade gold from the MT4 trading platform, available at most online brokers, and the most versatile option. MT4 fully supports automated trading and has a built-in copy trading feature. Regrettably, the out-of-the-box version as offered by most brokers is below average and requires upgrades. I recommend focusing on gold brokers that provide them, which transforms MT4 into a competitive trading terminal. It also shows the commitment of the broker to clients, which many advertise but few deliver.
Technology & Trading Tools
Superior technology ensures improved pricing and order execution. It will limit slippage and requotes, and the best gold brokers can deliver improved pricing to clients compared to the levels indicated in the order ticket. Gold traders who wish to deploy automated trading solutions must ensure the gold broker offers VPS hosting, free of charge once traders satisfy acceptable conditions. Manual traders should seek competitive trading tools, third-party analytics, plugins for the trading platform, in-house developed add-ons, and quality research and market commentary. Any gold broker that invests in its technology and trading tools commits to the success of its clients. I recommend avoiding brokers that deliver the bare minimum to remain operational. In today's financial markets, a technological edge will result in increased profit potential for traders.
Commissions & Fees
Commissions and fees are direct trading costs and will impact the profitability of any trading strategy. I recommend trading with a gold broker that offers tight spreads in gold and other assets, which results in higher profits per trade. Traders must understand the complete cost structure at a broker to avoid confusion and surprises. Reading the terms and conditions at a transparent broker will discuss them with examples for new traders to understand. Some brokers charge higher fees to compensate for services, and traders should ensure they offer a competitive edge before paying for something not beneficial to their trading strategy.
Funding & Withdrawal Methods
All brokers offer bank wires and credit/debit cards, but I recommend that traders consider alternative methods. Online payment processors and cryptocurrencies provide the lowest costs and fastest transaction speeds. It is also beneficial to keep regular day-to-day banking activities and investment or trading ones separate. Clients will have more oversight of financial transactions, which is also convenient for filing taxes each year.
Customer Support
The best gold brokers explain their product and services portfolio on their website and manage a seamless operation. Most traders never require customer support, but brokers must ensure swift assistance for emergencies or unexpected difficulties. All brokers provide it during regular business hours, many offer 24/5 support, and a few have it 24/7.
Offered Services
Traders may choose between a full-service broker, an online broker, or a discount broker. Most will have the best cost-services benefit at online brokers. I also recommend ensuring a low minimum deposit, which will assist traders in their portfolio building strategy, and high maximum leverage for gold trading. It remains one of the most beneficial trading tools if used with risk management. Traders should approach bonuses with caution, ensure they understand the terms and conditions, and evaluate if a bonus will benefit their strategy. They can offer a significant boost for long-term traders at well-established brokers. Active traders should consider a gold broker with a volume-based rebate program.
Trading gold from the right trading account type is as important as the trading strategies and the choice of broker. Many new traders with smaller deposits rush into trading in standard accounts, sometimes labeled as gold accounts, where many brokers provide better trading conditions. If operated with insufficient capital, the trading outcome in most cases results in losses. It is one reason why between 70% and 85% of retail traders fail to generate profits. I urge new traders with less than $1,000 to consider a mini account and earn their way into higher tiers.
Micro Account
A micro account is ideal for new traders with less than $1,000 in deposits. It is also excellent for learning how to trade Forex. Traders with automated trading solutions often test them in a micro account following intensive testing for bugs in a demo account. The lost size is equal to only 1,000 units, offering traders exposure to live market conditions suitable to their portfolio size. The minimum transaction size is usually 0.01 lots or just ten units of the asset.
Gold Account
A gold account is usually the standard one at most brokers. I recommend a minimum deposit of $10,000 for it. A suitable alternative for all traders with a portfolio above $1,000 but below $10,000 is the mini account. One lot in the gold account equals 100,000 units unless specified otherwise, versus 10,000 in the mini version. Some brokers decrease the maximum leverage and offer more trading features in a gold account.
VIP/Platinum Account
A VIP or platinum account is available at some brokers. It often requires a minimum deposit of $25,000 or higher and provides the lowest leverage available at the broker. It comes with non-trading perks like invites to events, tickets to in-demand venues, and other benefits for high-value clients. A growing number of brokers move away from multi-account tiers and offer identical trading conditions to all clients.
Gold Investment Options
Gold offers several investment options, including direct and indirect exposure and passive investments. The right choice depends on the individual objective, and not all gold brokers provide each asset. The below selections are for gold investors, while gold traders rely more on options and CFD trading.
Physical Bars & Coins
Buying physical bars and coins is the best approach for long-term investors. It grants ownership of gold, stored in secure vaults. Investors will have to pay storage and security fees, which are usually acceptable. I highly discourage gold storage at home.
ETFs
ETFs are ideal for investors who desire a passive investment approach. ETFs must store physical gold in verified vaults, but ETF investors seek exposure to the price movement of gold or its hedging capacities. Investors have no ownership of the gold, and ETF trading occurs during regular equity exchange operating hours.
Gold Mining Shares
Investing in gold mining shares is an indirect investment in gold and the riskiest one. While the profit potential may increase, there is no guarantee that miners discover new gold deposits or increase their operating profitability at existing mines. Investing in gold mining companies is more complicated than looking at the price of gold. It is not suitable for most retail traders.
How to Trade Gold in Forex
All Forex brokers offer gold, usually quotes as XAU/USD on their trading platforms. The trading mechanics are identical to trading currency pairs. The spread on the XAU/USD is higher than for most Forex pairs, and brokers lower the overall leverage. Another fact traders must consider the high volatility of trading gold. While most currency pairs move in ranges not exceeding 100 to 200 pips per day, gold can gyrate above 10,000 pips in extreme cases and easily surpass 2,500 per day. Gold is the primary hedge for advanced Forex traders and professionals. Traders must consider the inverse relationship to the US dollar to avoid overexposure to a single currency.
Gold Trading Brokers in the USA
The overall choice of brokers remains limited across the US, with just a handful of online brokers. All offer gold trading via futures and options contracts. Since US-based traders have fewer choices, the importance of trading costs and services fulfills the most significant role. The MT4 trading platform is not as available as at international counterparts, depriving US gold traders of thousands of automated trading solutions. Gold trading brokers in the USA rely more on manual trade execution, but some platforms support automated trading. The leverage is often well below that of international gold brokers, placing US traders at another competitive disadvantage. US traders are not allowed to trade with non-US brokers.
Gold Trading Brokers in Dubai
One of the primary locations for gold traders is in Dubai. The financial center of the Middle East is where gold trading forms part of the region's history. Today, Dubai accounts for 25% of global gold trade from within a free trade zone. A growing number of domestic and international brokers take advantage of the business-friendly environment and acquire operating licenses in Dubai. Most are compliant with Sharia Law for Muslim traders. There are several gold trading brokers in Dubai specializing in physical gold trading and storage. Online brokers provide gold traders a competitive trading environment, with full support for automated and copy trading. The Dubai Gold and Commodities Exchange (DGCX) presents unrivaled access to the gold trading scene, including the only international standard for 1kg gold bars and gold hedge funds.
FAQs
What are the best gold brokers?
The best gold brokers provide tight spreads, high leverage, and competitive trading tools.
What is the best gold trading platform?
For most retail traders, the best gold trading platform is MT4.
Is trading gold profitable?
Trading gold is as profitable as any other asset in the hands of skilled traders and requires the same attributes.
How much money do you need to trade gold in Forex?
It depends on the account type, but I recommend no less than a $1,000 portfolio to counter the high volatility of gold trading.
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.
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