Gold ranks among the world’s most traded assets.
It is an excellent portfolio hedge and offers cross-asset diversification opportunities, an inflation hedge, a recession hedge, and a safe-haven asset.
Best Gold Brokers and App Comparison
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Regulators | CMA, FCA, FSC Mauritius, FSCA | BVI, FSCA, LFSA | ASIC, CMA, CySEC, FSCA | ASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFID | ASIC, BaFin, CySEC, DFSA, FCA, FINMA, FMA, FSCA, JFSA, MAS |
Year Established | 2011 | 2006 | 2005 | 2006 | 1974 |
Execution Type(s) | ECN/STP, Market Maker | ECN/STP | ECN/STP | Market Maker | Market Maker |
Minimum Deposit | |||||
Average Trading Cost EUR/USD | 0.1 pips | $4.00 | 1.2 pips | 0.9 pips | 0.9 pips |
Average Trading Cost GBP/USD | 0.2 pips | $24.00 | 1.4 pips | 1.5 pips | 1.4 pip |
Average Trading Cost Gold | $0.18 | $45.00 | $0.16 | $0.29 | $0.30 |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Proprietary platform | MetaTrader 4, MetaTrader 5, NetTradeX | MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-based | Other, MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based+ | Other, MetaTrader 4, Proprietary platform, Trading View+ |
Islamic Account | |||||
Negative Balance Protection | N/A | ||||
| Visit Website | Visit Website | Visit Website | Visit Website | Get Started Visit Website71% of retail spread bet and CFD accounts lose money |
FXTM
In Summary Best all-around broker with high floating leverage and fast executionGold 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 & Cons
- 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
- A highly regulated broker with a tier-1 license
- Limited choice of commodities
IFC Markets
In Summary 1:400 maximum Forex leverage with floating spreads from 0.4 pipsGold traders can trade the XAU/USD with a minimum spread of 36 and the XAU/EUR with a minimum spread of 55 pips in the Standard-Floating account. The minimum order distance is 90 pips for both, the minimum transaction size is 10 ounces, and maximum leverage equals the maximum account leverage with negative balance protection. So, I rank IFC Markets among the best gold brokers.
Swap rates on leveraged overnight positions are approximately $59.80 and €47.55 for XAU/USD and XAU/EUR long positions, respectively, and $9.40 and €12.62 for short positions, respectively. IFC Markets also maintains multiple payment processors, including cryptocurrencies.
Pros & Cons
- Excellent regulatory track record and secure trading environment
- Outstanding asset selection and patented PQM asset generation technology
- Extremely competitive commission-free trading cost structure
- Valuable research and educational section, low minimum deposit, and high leverage
- No direct support for social trading
FP Markets
In Summary ECN trading with leverage up to 1:500The 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 & Cons
- 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
- Availability of Iress geographically restricted
AvaTrade
In Summary Highly regulated, choice of fixed or floating spreadsAvaTrade 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 & Cons
- High quality educational offering via AvaAcademy
- 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
- Trading costs competitive but nothing special
IG
In Summary No withdrawal feeIG ranks among the best gold brokers as it enables gold CFDs traded in contracts with spreads from 0.30 points, gold spread betting traded in GBP per point, and gold share trading with low commissions from £3.00 in UK-listed gold shares and commission-free in US-listed gold shares.
The superb IG trading platform choices include its proprietary web-based option, the algorithmic-supportive ProRealTime and MT4, the latter upgraded with 18 add-ons plus Autochartist, L2 Dealer for improved liquidity and DMA trading, and TradingView for social traders where 50M+ peers share ideas, discuss gold markets, and deploy algorithms via in-house TradingView scripts.
Pros & Cons
- Broad asset selection for Forex traders
- Quality choice of trading platforms, including MT4
- Autochartist signals integrated with the proprietary web-based platform
- No minimum deposit + free deposits and withdrawals
- Limited deposit and withdrawal methods
Eightcap
In Summary 1:500 maximum leverage and cutting-edge trading toolsA leading gold trading platform must offer low fees, excellent order execution, high leverage, and negative balance protection. Eightcap delivers across the board with minimum costs of $ 0.01 and average ones of $0.12, making it one of the cheapest options for gold traders. Trading hours are Monday through Friday from 01:01 to 23:59, and gold traders can choose between the MT4 and MT5 trading platforms. Alternatively, Eightcap connects to TradingView, where 30M+ traders share and discuss their strategies.
The excellent Eightcap trading infrastructure makes it ideal for algorithmic gold traders, who benefit from deep liquidity and free VPS hosting.
Pros & Cons
- 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
- Limited leverage in some areas
Pepperstone
In Summary Great ECN execution on MT4/5, cTader, TradingView and Pepperstone proprietary platformI rank Pepperstone among the best gold brokers as traders get nine gold crosses, offering gold traders to take advantage of Forex fluctuations against gold. Besides the XAU/USD, Pepperstone quotes XAU/AUD, XAU/CHF, XAU/EUR, XAU/GBP, XAU/JPY, XAU/CNH, XAU/SGD, and XAU/THB. The minimum gold spread for the XAU/USD is $0.05, with an average spread of $0.15.
Pepperstone provides gold traders with a competitive edge few gold brokers can match with the availability of Capitalise AI, allowing algorithmic trading in a code-free environment. The 28-plugin Smart Trader Tools package and Autochartist upgrade MT4/MT5, and Pepperstone maintains a choice of copy trading providers.
Pros & Cons
- Excellent choice of trading platforms consisting of MT4/MT5, cTrader, TreadingView and Pepperstone Platform
- Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
- Social trading support via Signal Start, MetaTrader Signals, Copy Trading by Pepperstone, DupliTrade
- Leverage of up to 1:400 depends on jurisdiction and superb trade execution
- Demo accounts have 60-day time limits
XM
In Summary Exception range of assets + negative balance protectionXM belongs to the best gold brokers as it provides ultra-competitive gold spreads in its Ultra Low Standard Account, where traders also benefit from swap-free trading. Traders using the MT5 trading platform also get the XAU/EUR pair, complementing the XAU/USD asset available in MT4/MT5. XM offers gold trading without re-quotes and supports algorithmic gold trading with VPS hosting for low-latency trading.
Traders can start gold trading at XM with a $5 minimum deposit, boosted by deposit bonuses. Active traders can earn more via the four-tier loyalty program. XM also upgrades MT4/MT5 with six exclusive technical indicators.
Pros & Cons
- Outstanding trading tools and loyalty program
- Low minimum deposit, high leverage*, and competitive trading cost
- Excellent research and education
- Trustworthy and transparent with generous bonuses and incentives
- Inactivity fee
How to Choose a XAU/USD Broker & Trading Platform
Choosing the right XAU/USD 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-earned 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.
Regulators in tier-1 jurisdictions, including the FCA in the UK, the CySEC in Cyprus, the ASIC in Australia, the MAS in Singapore, and the CFTC in the US, offer the most reputable regulation for gold traders, but also the most restrictive trading conditions. I recommend gold brokers regulated in New Zealand, the Seychelles, Mauritius, Belize, South Africa, Hong Kong, and Dubai, as they balance trader protection and competitiveness. They often include an investor compensation fund, independent audits via the Hong Kong-based Financial Commission, and third-party insurance protection.
Gold Trading Platforms
Most retail traders will trade gold from the MT4 trading platform, available at most online trading platforms, 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 XAU/USD 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 trading platformthat 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 trading platforms 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.
MT4 & MT5 Gold Trading
MT4 and MT5 gold trading, especially for gold CFDs and algorithmic gold trading, accounts for the bulk of non-US retail gold derivative trading. The lowest spread gold brokers offer MT4, MT5, or both trading platforms, as they ensure a distinct competitive edge.
Here are the reasons why MT4 & MT5 gold trading is popular:
- The availability of MT4 and MT5
- MT4 remains the leading algorithmic trading platform, followed by MT5
- Both trading platforms support copy trading
- Mobile trading is available for MT4 and MT5
- The lowest spread gold brokers offer multiple gold crosses
- MT4 and MT5 feature in-depth technical analysis
- Traders can choose from various chart types, like bar, line, or candlestick
- One-click trading is available at the top-left corner of the chart
- 1.0 standard lot in the XAU/USD equals 100 ounces of gold
- MT4 and MT5 connect to third-party trading tools like Capitalise AI for code-free algorithmic trading, Autochartist for automated chart pattern recognition, and Trading Central for actionable trading signals for gold
- MT4 supports upgrades via 25,000+ custom indicators, templates, and EAs, while MT5 has 10,000+
- A massive community of traders and experts, including thousands of tutorials and videos
Gold Trading Accounts
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.
Micro Account Pros and Cons
Pros | Cons |
Ideal for smaller portfolios below $1,000 | Less profit potential |
Higher maximum leverage and lower margin requirement | |
Excellent choice to test strategies and deploy algorithmic trading solutions | |
The best option for beginners to learn how to trade gold |
Gold Account
A gold account is usually the standard one at most trading platforms. 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.
Gold Account Pros and Cons
Pros | Cons |
Balanced maximum leverage and margin requirements | Traders should consider deposits above $10,000 |
Increased profit potential | |
Lower trading fees and volume-based cash rebates | |
More trading features and no trading restrictions |
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.
VIP/Platinum Account Pros and Cons
Pros | Cons |
The best pricing and execution | Requires a minimum deposit of $20,000+ |
Maximum earnings potential due to higher minimum lot size requirements | The lowest leverage and highest margin requirements |
Non-trading perks like invites to events, tickets to in-demand venues |
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.
Gold CFD Trading
Gold CFD trading is the most efficient method to trade gold, as the gold CFD mirrors price action 1:1 without granting physical ownership of the underlying asset. Therefore, traders get exposure to price action without worrying about storage of physical gold, legally binding futures contracts, or options expirations.
Traders can use leverage, and the lowest spread gold brokers often grant maximum leverage between 1:100 and 1:500 on gold CFDs, as they are highly liquid. While gold CFD trading is the best way for short-term price action trading, it is not for long-term investors who should stick with physical gold investments. Leveraged trading incurs daily swap rates that diminish returns and add extensive trading fees.
Gold Trading Strategies for Beginners
The choice of strategy depends on the trader’s preferences, personality, and skill set. My recommended gold trading strategies for beginners offer a time-tested starting point from which beginners can learn and build their customized strategies at their preferred lowest-spread gold brokers.
Here are my recommended gold trading strategies for beginners:
- Consider a longer-term strategy by analyzing price action on the D1 chart
- Use time-tested technical indicators like the MACD and trade crossovers confirmed by another technical indicator like the RSI
- Trade long-term support and resistance levels using the Fibonacci Retracement levels
- Trade with the trend and avoid counter-trend positions
Noteworthy:
- Beginners should wait to start position trading, swing trading, or day trading until they understand what factors move the gold market
- News trading can provide short-term opportunities but represents a 50/50 gamble even for seasoned traders
- Beginners consider the gold-silver spread strategy once they feel comfortable with gold and silver price action
- While copy and social trading are available, I recommend traders stay clear of those, as they hardly provide the desired results and deprive beginners of the ability to learn.
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.
Risk Management
Risk management is paramount to ensure the longevity and profitability of your gold portfolio. Traders using the XAU/USD should consider closing their positions during the trading session to avoid unexpected price swings. Traders who insist on leveraged overnight positions may consider decreasing their lot size or tightening their stop loss levels. I also recommend well-planned stop-loss and take-profit levels based on price action and not on what traders want to happen. Algorithmic trading solutions with adaptive risk management profiles are the best risk management protocol if traders have access.
Gold Spot Price Trading
Gold spot price trading refers to buying or selling gold at the current market rates or on the spot. It is the most common form of gold trading, and the lowest spread gold brokers provide the required trading infrastructure, including algorithmic trading and VPS hosting for low-latency 24/5 gold trading.
The gold spot price chart visually represents price action in an underlying asset, such as the XAU/USD pair. It allows traders to conduct a comprehensive technical analysis to determine the likely direction of the trend via chart pattern and candlestick analysis and assess support and resistance levels.
Here is what gold spot price trading traders require:
- Live market data and cutting-edge charting software, including multi-screen support
- Comprehensive technical analysis tools
- An economic calendar, ideally with AI-assisted features
- Low trading fees with average gold spreads below 30 basis points
- A cutting-edge trading platform that supports algorithmic trading
- Multiple gold assets quoted in various currencies for advanced strategies are a bonus
Gold Trading Brokers in the USA
The overall choice of brokers remains limited across the US, with just a handful of online brokers for US clients. 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 in India
India is one of the largest gold markets globally. Gold fulfills a central role in Indian culture as a store of value, a symbol of wealth and status, and a fundamental part of rituals like Diwali, Akshaya Tritiya, Pongal, Onam, Ugadi, Durga Puja, Gudi Pavda, Baisakhi, and Karva Chauth. Additionally, Indian weddings account for roughly 50% of Indian gold demand. The increasing economic power allows more Indians to participate in gold trading and investing, and many offshore brokers consider India a core growth market.
India reported a 5% annual increase in gold demand for 2024 to 802.8 tonnes, supported by a reduction in import duties versus 761.0 tonnes in 2023. Gold prices have soared during the period, causing gold demand value to surge by 31% to ₹5,15,390 crore in 2024 versus ₹3,92,000 crores in 2023. The record-high gold prices may cool demand, expected between 700.0 and 800.0 tonnes.
The Reserve Bank of India has purchased 73.0 tonnes of gold in 2024 versus 16.0 tonnes in 2023. ETFs became the most popular method for Indians to trade and invest in gold. Additionally, e-commerce sites in metropolitan areas offer fast delivery of small gold investment bars and coins.
Bottom Line
Gold trading presents excellent portfolio diversification, a hedge, and a safe asset to trade during times of uncertainty and volatility. I recommend gold CFDs to traders using MT4 or MT5, which remains the most effective exposure to gold price action without worrying about ownership, legally binding contracts, and expirations.
The lowest-spread gold brokers offer highly competitive trading conditions, including average spreads below 30 basis points and maximum leverage between 1:100 and 1:500. I favor gold brokers regulated in New Zealand, the Seychelles, Mauritius, Belize, South Africa, Hong Kong, and Dubai, as they balance trader protection and competitiveness. Beginner traders should consider a micro account and longer time frames until they can move on to more complex trading strategies. In-depth education, mastering trading psychology, and strict risk management remain paramount to successful gold trading.
