10 Best Commodities Brokers in the UK for 2025

Commodities are essential for the functioning of the global economy and have long been traded as financial instruments. In the UK, brokers offer a diverse range of commodities to trade. Their price volatility and deep liquidity make them attractive for traders seeking portfolio diversification and a hedge against economic cycles.

Commodities include raw materials, energy resources and agricultural produce. Crude oil, gold, natural gas, soybean, corn, wheat, silver and sugar are among the most popular commodity markets to trade. In this guide, we ranked and reviewed the best commodities brokers in the UK. We also explain how commodity trading works and what best practices to follow.

Reviewing these top-ranked UK commodities brokers

We’ll now take a closer look at the UK commodities brokers that came out on top, highlighting their unique benefits and limitations, allowing traders to select one that best suits their circumstances and trading needs.

1. eToro: Best commodity broker in the UK overall for 2025

• Commodity markets: 41
• Fees: Spread-only trading on commodities. Variable spreads start from 5 pips (oil) and 0.025% (gold)
• Minimum deposit: $100

eToro is best known for its social trading and copy trading aspects, where it helped popularise the practice of allowing new investors to learn from and mimic more experienced traders. The FCA-regulated broker with more than 35 million clients is also a good commodity trading option because of its breadth of commodity choices.

It has 42 popular commodity markets, as many as any broker on this list, including precious metals such as gold, silver, and platinum, as well as oil, natural gas, and agricultural products such as wheat and sugar.

All commodities on eToro can be traded on a spread-only basis. Spreads start from 5 pips and 0.025% for oil and gold, respectively. Another option on eToro is to invest in commodity ETFs, which may be better for long-term investors. eToro facilitates investing in the prestigous SPDR Gold ETF, which is backed by physical gold, so it closely mirrors the spot price.

eToro also has commodity-focused smart portfolios in its robo-investing function. Its smart portfolios are built and managed by eToro, so the investment experience is passive.

eToro also offers other asset classes, including forex, cryptocurrencies, indices, and shares. GBP deposits and withdrawals are fee-free. However, most commodities trade in USD, so conversion charges will apply. What’s more, the minimum deposit is $100.

2. XTB: Regulated UK commodity broker with no account minimums

• Commodity markets: 27
• Fees: Spread-only trading on commodities. Target spreads of 0.3 points (oil) and 0.035 points (gold)
• Minimum deposit: £0

XTB’s commodity offerings includes everything from oil and nickel to natural gas, platinum, and soybean, in addition to silver, and copper. XTB is a commission-free commodity broker so only the spread needs to be covered. It offers a target spread of 0.3 points on oil and 0.035 points on gold. It also offers commodity-based ETFs with no commission charges.

XTB’s spreads are competitive but will increase during volatile trading conditions. XTB offers commodity CFDs, so long and short trading is available. Like on most UK platforms, gold can be traded with leverage of 1:20. Other commodities come with lower leverage limits of 1:10. XTB supports more than 6,900 financial markets, including indices, shares, and forex.

Another benefit of XTB is there are no account minimums. UK traders can deposit any amount via debit/credit card and bank transfer. XTB also offers a free demo account. This enables traders to practice on the commodity markets risk-free. XTB is available on browsers and a native app, meaning commodities can be traded anywhere at any time.

3. Pepperstone: Spread bet commodities to avoid capital gains tax

• Commodity markets: 40
• Fees: Spread-only trading on spread betting accounts. Average spreads of 2.4 points (Brent crude) and 0.21 points (gold)
• Minimum deposit: £0

Pepperstone is one of the best commodities brokers available to UK traders in terms of choices, with 40 different commodities to trade, including soft commodities, hard commodities, metals, and energy products. It also has more than 100 ETFs, including some commodity ETFs that trade by CFDs.

Some of the things that traders can enjoy at Pepperstone include no minimum account opening balance, scalping, hedging, and trading robots, called Expert Advisors (EAs), on all account types.

The CFD broker is regulated by the FCA in the UK and offers two account types: Standard and Razor.

Through spread betting, it facilitates a tax-free way to speculate on financial markets. Long and short trading is available, with leverage of up to 1:20. Gold can be traded against GBP and many other currencies, including USD, JPY, and EUR.

Pepperstone also offers a vast range of agricultural commodities. This covers everything from sugar, corn, and cattle to lumber, oats, and soybean.

There are no minimum deposit requirements at Pepperstone. It processes GBP payments at no additional cost. This includes Visa and MasterCard deposits. Spread betting accounts come without commissions.

4. FP Markets: One of the best options for trading gold online

• Commodity markets: 36
• Fees: Spread-only trading on standard accounts. Average spreads of 0.02 points for WTI oil and 0.19 points for gold
• Minimum deposit: £100

FP Markets offers a lot of advantages for CFD commodity trading, with 36 commodities, commodity ETFs and plenty of elite trading platforms, such as MT4, MT5, TradingView, IRESS, cTrader, and WebTrader.

The broker lists 36 commodities for CFD trading, including popular commodities such as gold (XAU), silver (XAG) and oil (CL, WTI). FP Markets facilitates gold trading against multiple currencies, including GBP, meaning you can trade gold without currency conversion costs. Other gold pairs include XAU/USD, XAU/EUR, and XAU/AUD.

FP Markets also offers other popular metals, such as palladium, platinum, silver, zinc, nickel, and aluminum. It also supports Brent and WTI crude oil. Those opening a standard account must meet a £100 minimum deposit. This account type offers 0% commission trading. Spreads on gold average at just 0.19 points when traded against USD.

However, this increases to 0.39 points for the GBP/gold market. FP Markets also offers a free demo account, which connects to MT4. This comes with $100,000 in virtual funds and it mirrors real-time commodity prices. FP Markets also sponsors social trading on MT4 and MT5, allowing inexperienced commodities investors to mimic successful commodity traders.

5. Admiral Markets: Low spreads, plenty of commodity choices

• Commodity markets: 40
• Fees: Brent crude has a typical spread of $0.01 and gold is $0.17 (both with its commission-based Zero.MT5 account).
• Minimum deposit: $100

Admiral Markets offers more than 8,400 tradable assets, including a good base of commodities, from agricultural commodities to precious and base metals and energy commodities.

Traders need to use its MT4 or MT5 accounts to trade in commodity CFDs. With the low-spread MT4 Zero or MT5 Zero account, forex and metals have commissions from $1.80 to $3 per lot.

If you buy a commodity ETF, Admiral Markets charges no commissions on ETF trades. It also has a demo account with $10,000 in virtual funds. The platform is known for dependable customer service through the phone, email or by live chat. The broker has a competitive pricing policy. It’s regulated by various agencies, including the FCA in the UK.

Admiral Markets requires a minimum deposit of $100 to open an account. It does have an inactivity fee of €10 that begins after 24 months of inactivity and Its MT5 account comes with automated trading through expert advisors (EAs), with more than 80 technical indicators and analytical tools.

6. Prime XBT: Cryptocurrency broker offers low spreads on metals CFDs

• Commodity markets: 10
• Fees: Spread of $0.56 on gold and 0.002$ on Brent crude.
• Minimum deposit: $10

Prime XBT focuses on keeping costs down and is known primarily for its forex trading. The minimum deposit is only $10 and no trading fees on forex or indices or commodities, only the spread.

The platform only has 10 commodities to trade, but its CFD commodities trading includes many of the major metals, including gold, silver, zinc, aluminium, copper, nickel and lead, with spreads as low as 0.1.

It isn’t regulated by the FCA in the UK, but it is regulated by the Financial Services Authority of Seychelles (FSA) and the FSCA in Australia. PrimeXBT does have copy trading where you can automatically invest in the same trades as more experienced investors.

The broker also offers market news, though most of that tends to skew toward cryptocurrency news. It also has informational articles on a variety of topics, including commodity-specific articles. It also has a demo account to allow you to practise trading that comes with $10,000 in virtual currency.

7. Trade Nation: Brings the benefits of fixed spreads to commodities trading

• Commodity markets: 20
• Fees: Average spreads on energy commodities begin at 2 pips and 3 pips for metal commodities.
• Minimum deposit: None required

Trade Nation offers low-cost fixed or variable spreads for commodities, with all of the trading costs rolled into the spread. The platform is a good choice for inexperienced and intermediate-level traders and allows CFD trading in forex, stocks, cryptocurrencies, commodities and indices.

Some of the broker’s other pluses are it requires no minimum deposit and offers copy trading and fractional trading, as well as advanced charting through ChartIQ.

It also offers a demo account with $10,000 in virtual funds to allow risk-free learning. Speaking of education, it offers articles, videos and podcasts, daily reports and real-time news. 

Besides its proprietary platform, TN Trader, it supports MT4 and TradingView. It is also regulated in the UK by the FCA. One negative is its Web site doesn’t provide much information before you sign up.

8. IG: Best commodities broker for all-around trading

• Commodity markets: 40
• Fees: Spreads begin at 0.1 points on commodities. Brent crude has a typical spread of 2.8 points and the average spread is 0.3 points on gold.
• Minimum deposit: £250, though that drops to £50 with a bank transfer.

IG doesn’t charge commission on commodity CFD trades, only the spread, which it keeps fairly low, for instance, just 2.8 points on Brent crude and 0.3 on gold.

The broker allows investors to trade CFD commodities at undated ‘spot’ prices or futures prices. It also delivers CFD trading in crypto, forex and indices, as well as direct stock and ETF investing.

IG was established more than 50 years ago, so it isn’t going anywhere. It’s authorized and regulated by the FCA. If you need to trade more than commodities, IG offers more than 17,000 financial instruments.

The broker also features a regular section on commodity news, as well as IG Academy, which includes free online courses, webinars and seminars.

IG sponsors copy trading through its IG Markets MT4 account. It also has a demo account.  The minimum investment to trade with IG is £50 via bank transfer or £250 if you use a debit or credit card.

Some of the negatives for IG is it doesn’t permit fractional trading and its demo trading account has a $20,000 limit in virtual funds.

The maximum leverage is 1:30, and both long and short trading is available. Another plus is that IG offers competitive fees. It charges no commission when trading forex and minimum spreads are 0.6 pips.

9. Plus500: Solid educational support for commodity trading

• Commodity markets: 27
• Fees: Spreads-only trading on commodities. Average spreads of 0.4 points (oil) and 0.38 points (gold)
• Minimum deposit: $100

Plus500 offers 27 commodities, from oil to oats. Its commodity fees are based on the spread, and guaranteed stop-loss orders are available, though with a larger spread.

It also allows trades on shares, forex, indices, ETFs and options for a total of more than 5,500 financial assets available, including more than 2,800 CFD trades.

The broker provides a nice array of educational help, including expert analyses, daily financial news and its Trading Academy videos and tutorials. It provides negative balance protection and guaranteed stop-loss orders, two ways for investors to manage their risk levels.

One negative is it charges an inactivity fee of up to $10 per month for those who don’t log into their trading account for at least three months.

10. Trading 212: Good broker for new commodity investors

• Commodity markets: 35
• Fees: Spreads-only trading on commodities. Spreads start out 0.4 points, with an average spread of 0.45 points for gold
• Minimum deposit: None

Trading 212 is a good commodities platform for new investors as it doesn’t require a minimum deposit to start an account, and it has a user-friendly interface.

The broker has 3 million customers across Europe and trades more than 13,000 shares and ETFs, including 35 CFD commodities and commodity ETFs.

Trading 212 makes it easy to grow your account even if you are a relatively passive investor. That’s because it has features such as share lending, which pays you interest on your stocks by lending them to other investors, as well as the payment of interest on uninvested funds in your account, with the rate currently 4.9% in the UK.

Some of its other beneficial properties include commission-free investing in stocks and ETFs and an automatic investing feature which enables traders to schedule deposits and invest in ready-made portfolios.

Some of Trading 212’s downsides include customer support that doesn’t offer phone assistance, and it also doesn’t offer third-party trading platforms MT4 or MT5.

Commodities trading platforms compared

The table below compares trading fees and other key metrics of the top commodities brokers in the UK market:

What is a commodity broker?

Commodity brokers enable traders to speculate on commodities like gold, oil, and wheat. Most brokers offer commodity ‘derivatives,’ meaning traders don’t own the underlying asset. Instead, derivatives (such as CFDs and spread betting) track commodity prices in real time.

This provides several benefits. For a start, UK traders can go long or short on their preferred commodity using these instruments. This means you can speculate that prices will rise or fall. Additionally, derivatives brokers provide retail traders with leverage. The maximum leverage available to UK retail clients is 1:20 on gold and 1:10 on other commodity markets.

Crucially, by not owning the underlying asset, you don’t need to worry about transporting or storing commodities. Ultimately, commodity brokers match buyers and sellers and collect a commission or spread whenever clients place a trade. The market couldn’t be easier to access, especially when using an FCA-regulated platform.

Why trade commodities?

The UK commodities market has experienced a surge in trading activity and participation. The nominal value of the commodities market in the UK is forecast to reach $1.21 trillion by 2029 from a projected value of $1.014 trillion this year, according to data from Statista. This equates to an annual growth rate (CAGR 2025-2029) of 4.52%.

This growth is driven by increasing interest from UK traders and investors seeking portfolio diversification and a hedge against market volatility. Commodities offer the potential for substantial returns and the ability to spread risk across various asset classes, making them an attractive investment option.

A key trend in this market is the rise of online trading platforms, which have broadened access for retail investors and subsequently boosted trading volume and market liquidity. The increasing popularity of leveraged trading products, which allow investors to magnify their commodity exposure with smaller initial outlays, is another significant development.

Types of commodities you can trade

Most online brokers split commodities into three key categories: metals, energies, and agriculture.

Here’s an overview of the main markets:

• Metals: The two most popular metals traded online are gold and silver. Less popular and more volatile markets include palladium, platinum, silver, zinc, nickel, and aluminum.
• Energies: UK traders can speculate on global oil prices, including Brent and WTI. Natural gas is another popular market.
• Agriculture: It’s also possible to trade agricultural products that are bought and sold globally. This includes everything from sugar, wheat, and corn to soybean, cattle, lumber, and oats

Do note that commodities are also split into ‘soft’ and ‘hard’.

• Hard commodities: This includes commodities that must be mined or extracted. Hard commodities cover metals and energies.
• Soft commodities: This includes agricultural products and livestock.

What drives commodity prices?

Various factors drive global commodity prices and you need to understand them before trading.

• At their core, prices are determined by demand and supply for the given commodity.
• Sub-factors include economic growth, interest rates, currency exchange movements, inflation, and geopolitical events.

To improve your effectiveness as a trader, it’s best to niche down into a specific commodity market that you know well, whether that’s Brent crude, wheat, or gold.

Ways of trading commodities

Commodities can be traded in various ways, including CFDs and spread betting, ETFs, and futures.

Let’s take a closer look at the main financial instruments available to UK traders.

CFDs

The most common way of trading commodities in the UK is via CFDs (contracts-for-differences). These instruments merely track real-time commodity prices, providing seamless exposure to the market.

For example, suppose the gold spot price is $2,690, and it increases to $2,701 a few minutes later. Gold CFDs should mirror the same movement. Commodity CFDs are usually commission-free, so it’s only the spread to pay.

What’s more, you can trade commodity CFDs with leverage, and both long and short trading is available.

Spread betting

Spread betting, like CFDs, are derivative products. They enable UK traders to speculate on commodities without taking ownership. They invite long and short trading plus leverage of up to 1:20.

The key difference is that spread betting profits are tax-free. This means you’ll avoid paying capital gains tax on successful commodity positions.

ETF investing

Most commodity traders in the UK opt for short-term trading strategies. This includes swing trading, day trading, and scalping. However, those preferring longer-term trades might consider commodity ETFs (exchange-traded funds).

In summary, ETFs are backed by the underlying commodity, which means their share price closely aligns with spot price movements. For example, we mentioned earlier that the SPDR Gold ETF is backed by gold bullion.

This means you can invest in gold for months or years without needing to worry about storage. ETFs trade on traditional stock exchanges, so can be cashed out during standard market hours. Gold is just one example. ETFs also provide exposure to silver, wheat, oil, and more.

Mutual funds investing

Mutual funds are similar to ETFs in that they provide indirect exposure to commodities. However, the key difference is that mutual funds aim to outperform the commodity benchmark, while ETFs merely aim to replicate it.

Mutual funds often short-sell commodities if they believe prices will fall. This requires more complex financial products, such as futures and options. However, mutual funds often come with much higher minimums than ETFs.

Individual stocks

An alternative way to gain exposure to commodities is via individual stocks. This is a riskier approach, but the returns can exceed spot price movements. For example, suppose you’re bullish on oil.

Instead of trading CFDs, you could invest in oil companies like BP or ConocoPhillips. In theory, oil price increases will benefit these companies. However, other factors come into play, such as the cost per barrel, debt repayments, and dividend obligations.

Futures

Another way to trade commodities is via futures contracts. These instruments come with expiry dates, often weekly, monthly, or quarterly. Trades speculate whether the commodity will be worth more or less than the strike price.

• For example, suppose the strike price for silver is $33 per ounce.
• You believe silver will be worth more in three months’ time, so you purchase long contracts.
• Silver is priced at $40 per ounce when the contracts expire.
• This means you’ve made $7 for each purchased contract.

However, futures are risky when they’re settled in the underlying asset. Those holding contracts on expiry are legally obligated to take delivery.

Options

Options are derivative products like futures, but they’re considered less risky. For a start, they give traders the ‘option’ but not the ‘obligation’ to purchase or sell the underlying asset. Traders risk a premium when entering a position.

This is typically a small percentage of the overall trade size. The premium is the only amount traders can lose. Most options brokers offer various strike prices and expiry dates, so they’re also more flexible than futures.

DMA

Often reserved for institutional investors, DMA (direct market access) is another way to trade commodities. This method directly matches buyers and sellers without intermediaries.

This often means traders get the best market rates. That said, most DMA accounts offer commodity futures, so you’re still trading derivative products.

Pros & cons of trading commodities

Commodity trading can be quite volatile and requires a level of expertise. Consider the following benefits and drawbacks before trading commodities in the UK:

How to choose a commodities broker

These factors should be considered when researching the best UK commodities brokers:

• Security and regulation: It’s best to trade via FCA-regulated brokers. These platforms must comply with strict licensing rules, especially regarding retail client protection. Your funds will also be segregated from the broker’s primary bank account, adding an extra safety net to your investments.
• Supported commodities: Check which commodity markets the broker supported. The best platforms offer dozens of commodities, ranging from gold, wheat, and platinum to oil, sugar, and silver. You might also consider trading other products, such as shares, indices, forex, and the best altcoins.
• Financial instruments commodities: Just as important is understanding which financial instruments you’ll be trading. One of the best options in the UK is CFDs, although spread betting is also worth considering. After all, spread betting profits are tax-free. Long-term investors should explore ETFs and mutual funds.
• Payments and minimums: Ensure your chosen commodity broker supports convenient payment methods. This often includes local bank transfers, e-wallets, and debit/credit cards. Check the minimum deposit requirement to ensure it aligns with your investment budget. You should also assess whether deposit/withdrawal fees are charged.
• Trading commissions and spreads: The top UK commodities brokers offer commission-free trading, typically via CFDs or spread betting. However, spreads can’t be avoided. The wider the spread, the more you’re indirectly paying to trade.
• Analysis and research tools: We prefer commodities brokers that offer comprehensive analysis tools. Technical traders should look for advanced charts and economic indicators. Those opting for a fundamental research strategy should explore economic data, expert insights, and financial news.
• Automated investing: Beginners might choose a commodity broker offering automated investing tools. eToro, for example, is one of the best copy trading platforms. It enables users to replicate an experienced trader. If the chosen trader buys gold, you’ll automatically buy gold too.
• Leverage: It’s also worth checking whether leverage is available should you wish to trade with more than your budget allows. However, do remember that the maximum leverage limit when trading gold is 1:20 and 1:10 for all other commodities.
• Mobile trading: The commodity markets are fast-paced, so it’s crucial to choose a broker with a native mobile app. This will provide the opportunity to open or close a position at a moment’s notice. Ensure the app is user-friendly and that it offers full functionality, including trading, analysis, and payments.

How to start trading commodities in the UK

We are going to illustrate the process using eToro as an example. Follow these steps to start trading commodities online:

• Step 1: Decide which commodities to trade: First, spend some time researching the different types of commodities, including metals, energies, and agricultural products. It’s best to niche down to a single market rather than attempting to trade the entire sector.
• Step 2: Choose a commodity broker: Next, choose an online broker that supports your preferred commodity. Beginners might like eToro for its user-friendly dashboard. What’s more, eToro is regulated by the FCA and supports 34 commodity markets.
• Step 3: Open an Account: Now visit the eToro website (or your chosen broker) to open an account. Provide some personal information and contact details. You’ll also need to provide a copy of a passport or driver’s license.

• Step 4: Trade in Demo Mode: eToro offers a free demo account with unlimited usage. It’s crucial to remain in demo mode until you consistently make profits. Use the analysis tools available, such as insights and indicators.
• Step 5: Decide How Much to Risk and Deposit Funds – Once you’ve spent ample time in demo mode, it’s time to move into the live commodity markets. Assess how much capital you’re comfortable risking and make a deposit. Do note that eToro has a minimum requirement of $100.
• Step 6: Set up a Commodity Trading Order: Now, search for the commodity you want to trade and choose from a long or short position. Type in the amount of risk on this particular trade. You can also apply leverage, although ensure you consider the risks before proceeding.

• Step 7: Enter Stop-Loss Order: We’d also suggest setting up a stop-loss order. This will minimize losses on unsuccessful trades. For example, if the stop-loss is set at 3%, the most you can lose is 3%. The trade will automatically be closed if the stop-loss level is triggered.
• Step 8: Confirm Orders: Finally, confirm the orders, and eToro will execute them instantly.

Commodity broker FAQs