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What is the best broker for gold trading?

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  • What is the best broker for gold trading?

    Curious about brokers that allow gold trading

  • #2
    Are you looking to trade Gold as a CFD, ETF, Futures or something else? In order to answer the best way, we would need some more information. But first of all, there is not one broker that would be best for everyone to choose, it depends on what you trade, how you trade and the quantities you trade with.

    For example if you would trade Gold as a CFD, great brokers with low spreads on gold could be:
    1. LCG - London Capital Group
    2. CityIndex
    3. Markets .com
    4. FxPro

    They all offer some of the lowest spreads on the market for Gold CFDโ€™s. But they may offer very different Deposit guarantees, support, service and software.

    If you would like to trade Gold as an ETF a good choice could be:
    1. Saxo Bank
    2. Interactive Brokers
    3. Degiro

    Depending on where you are located, these 3 could also be possible for you to choose. They all offer very low commission rates on ETF trading.

    But be sure, that when you decide which broker to choose, that you consider a few things first.

    First of all - Do NOT consider bonuses or other marketing stunts brokers might use. This does not tell you anything about the broker at all.

    Regulation and security is very important, and so are these factors below:
    • Security:
      When you are looking for a broker security should be one of the first things that come to mind. When we talk about security we first of all look at Regalutions. Only use a broker who are regulated, and look at where they are regulated. FCA, FINRA and other well known regulators are a good match. CySEC is not the best regulator, as the rules here is not that sharp.
    • Deposit Guarantee
      If the bank or broker should go bankrupt, be sure that they are covered by some kind of Deposit guarantee, so your money is safe. A quick advise, if the broker isโ€™nt regulated, they probably do not have any kind of deposit guarantee as well. If they are regulated by a wellknown regulator like FCA, they will have some kind of Deposit guarantee. This deposit guarantee can vary a lot, so be sure how much it covers.
    • Spreads and commision rates
      The next thing is the price of trading. Be sure to choose a broker with low spreads on the instruments you trade, and look after hidden fees like inactivity fees, transfer fees, account fees or other fees that might apply.
    • Software
      Look at the software the broker offers. Today a good broker, will have a great software feature, as a lot of traders use software to trade with/from. This is not the most important part, as software can always be found elsewhere.
    • Service and support
      The last thing i will highlight here is service and support. Be sure that the broker can be contaced on email and phone and maybe also chat support. You will probably need at some point to contact your broker with an important question. If you can only contact them by email stay way (Just my opinion). Trading CFDโ€™s contains risk, so you need to be able to get in contact with your broker in case of emergencies or computer/internet failure.

    I hope that this helped you. If you think it is a lot to take in or a huge amount of work to be done, before you can begin to choose a broker? You are then very welcome to use our comparison site, where we consider all of these factors and show you the data, so you can make the best choice.

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    • #3
      Originally posted by OptionKing View Post
      Are you looking to trade Gold as a CFD, ETF, Futures or something else? In order to answer the best way, we would need some more information. But first of all, there is not one broker that would be best for everyone to choose, it depends on what you trade, how you trade and the quantities you trade with.
      Thanks for the reply.

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