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Since the recession of 2008, many people have flocked to gold, to protect themselves against market volatility. But, the problem with gold is that actually owning it takes a lot of space. Gold is bulky. So now, more and more people are trading it as a CFD. That means speculating on its price movement, rather than owning the underlying asset. Many brokers offer it on their platforms and it is almost always found on the MetaTrader 4 platform.

The brokers below represent the best brokers for gold trading.

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79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

CNMV in Spain, CySEC, FCA, IFSC, KNF

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79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

MT4, MT5, Proprietary, webtrader

Dealing Desk, DMA, Market Maker

Dealing Desk, Market Maker

IRESS, MT4, MT5, webtrader

ASIC, CySEC, FCA, FSB, ISA, MAS

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.27% and 73.32% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.27% and 73.32% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Pro Tip: Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash.

Here’s a list of the Best Brokers for Gold Trading:

Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients

ATFX

Headquarters:1st Floor, 32 Cornhill, London

ATFX is a Forex and CFD broker which is authorised and regulated by the UK’s Financial Conduct Authority under the name of AT Global Markets (UK). This company is also a member of the Financial Services Compensation Scheme, offering a high level of safety and security of funds.

With ATFX users can trade on more than 100+ trading instruments covering Forex, Commodities, Metals, Oil, Indices, Shares and Cryptocurrency CFDs on the MetaTrader 4 trading platform for Desktop, Android, iPhone and Web. Both beginner and professional traders will enjoy the impressive trader education tools, webinars and seminars that are available as well as the market research provided and special trading tools such as Trading Central indicators.

XTB

Regulated By:CNMV in Spain, CySEC, FCA, IFSC, KNF

Headquarters:Warsaw, Poland

79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

XTB is an award-winning CFD platform that supports Forex, indices, commodities, stock CFDs, ETF CFDs, and cryptocurrencies. For Forex, XTB supports 48 currency pairs with low-cost spreads. Customers of XTB can choose between trading on the xStation 5 or MT4 platforms. For leverage accounts, this brokerage offers leverage of up to 200:1.

Stock and ETF CFDs all attract a fixed commission of 0.08% per lot across the two types of accounts.

XTB was founded in 2002 with headqיuarters in Warsaw. It is regulated in markets across Europe by the IFSC, FCA, KNF, and CySec. XTB has a free demo account and a Trading Academy set of courses for beginner and intermediate traders.

BDSwiss

Headquarters:Apostolou Andrea Street 11, Hyper Tower, Limassol, Cyprus

BDS Markets Ltd is an online financial services provider licenced and regulated by the FSC Mauritius, offering forex and CFD for trading on its online trading platforms. Its sister company BDSwiss Holding PLC is operating under CySEC licence No 199/13, Today, BDSwiss Holding PLC  is located in Limassol, Cyprus and has a Tied Agent in Germany.  Both companies belong to the BDSwiss Group of companies.

OctaFX

Headquarters:Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines

OctaFX was founded in 2011 and offers Forex ECN trading, as well as CFD trading on Indices, Metals and Cryptocurrencies, across the MetaTrader and cTrader suite of trading platforms for Windows Desktop, Web (Windows and Mac) and Mobile (Android and iOS), as well as their own OctaFX Trading App.

The tradable products available from OctaFX vary depending on the type of account opened (MT4 Micro, MT4 Pro, cTrader ECN) but covers Forex, Indices, Metals and Cryptocurrencies.

FXCM

Regulated By:ASIC, FCA, FSP

Headquarters:20 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom

Founded in 1999, FXCM Group is an international online forex and CFD brokerage brand. In the UK, the FXCM brand is managed by FXCM Ltd. The company is based in the UK and its head office is located at 20 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom.

The brokerage firm also maintains offices in several jurisdictions such as Australia and South Africa. The broker is well known in the online trading community for suffering massive losses when the Swiss franc was unpegged from the US dollar in 2015. Having recovered from the crisis, FXCM today is focused on catering to the trading needs of both beginner traders and experienced traders.

FP Markets

Headquarters:Level 5, Exchange House 10 Bridge St Sydney NSW 2000, Australia

FP Markets was founded in 2005 and is regulated by the Australian Securities and Investments Commission (ASIC), offering segregation of client funds and top tier liquidity. FP Markets is a group of companies that includes First Prudential Markets Ltd which is authorised and regulated by the Cyprus Securities and Exchange Commission.

The broker offers the ability to trade on more than 10,000+ financial instruments covering Forex, Equities, Metals, Commodities, Indices and Cryptocurrency CFDs. Users have access to a range of accounts including the Standard Account (commission-free) and Raw Account (commission-based) for MetaTrader users, both offering ECN pricing and maximum leverage of 500:1. Users can also access Iress Accounts which are commission-based.

NBH Markets

BHM has solid roots in gold trading and investment and is the only brokerage firm with gold-backed stability offered by the National Bullion House.

The broker offers leverage up to 1:500 across a range of different asset classes including Forex, CFDs, Cash Indices, Precious Metals and Commodities. Clients can choose from three account types called Standard, Pro and Elite which can be funded with USD currency.

The account types offer a range of commission-free and fee-based trading using the MetaTrader 4 and the MetaTrader5 trading platforms.

FXTM

Regulated By:CySEC, FCA, FSC

Headquarters:FXTM Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus

FXTM, short for ForexTime, is a platform with a primary focus on foreign exchange. That specialization allows it to rise above many others when it comes to Forex focused trading platforms and tools. CFDs are available on 50+ currency pairs including major, minor, and exotic pairs. Leverage is available up to 1000:1.

Spreads are competitive across all platforms with 24-hour trading open 5 days per week. FXTM is based in Cyprus and licensed by the International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission, and other regulators in and out of the EU. A free demo account is available. 

Plus500

Regulated By:ASIC, CySEC, FCA, FSB, ISA, MAS

Headquarters:Building 25, MATAM, Haifa, Israel

Plus500 is a leading CFD trading platform with support for stocks, indices, cryptocurrencies, and Forex. This commission-free brokerage charges very low spread-rates and offers fast trades on a great platform. Plus500 supports complex trades, includes negative balance protection, and makes trading an educational and hopefully profitable venture.

You can start with a free demo account to test the platform and any trading strategy. Real money accounts offer leverage of up to 1:30. This broker is based in Israel and regulated by the Financial Conduct Authority (FCA) in the UK. 

Tickmill

Regulated By:CySEC, FCA, fsa-sc

Headquarters:1 Fore Street, EC2Y 9DT, London, United Kingdom

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.27% and 73.32% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Tickmill was founded in 2014 and is regulated by the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA).

The broker provides more than 80+ CFD instruments to trade on covering Forex, Indices, Commodities and Bonds through three core trading accounts called the Pro Account, Classic Account and VIP Account. They also offer a demo trading account and Islamic swap-free account.

Gold is a spot metal that is traded on commodity exchanges as well as on forex platforms as a CFD asset. Gold is classified as a hard commodity, which is extracted from the ground. Gold is a tradable asset which is traded on contracts. Available contracts for gold trading include:

The primary market for gold trading is the futures market, located in the US and London. The gold futures market is traded round the clock, except for a one-hour break within each trading day when the open outcry markets shut down and the CBOT markets kick in.Most of gold trading done in today’s market features the spot contracts (immediate settlement) and the futures contracts (settled in the future after 1 – 3 months).

Generally speaking, gold is traded mostly as spot contracts or futures contracts. It is possible to conduct spot and futures contract trading on gold on the primary futures market: CME, COMEX, CBOT and NYMEX. The margin requirements for these trades on the exchanges are very high and are mostly out of the reach of retail traders.

Retail traders are able to access gold trading via the forex platforms, which list the gold asset as a pairing against the USD or Euro. In this form, gold is traded as a contract-for-difference instrument, which does not involve physical exchange of the asset.Gold prices are mainly impacted by the state of the financial markets. Gold is used as a safe haven for capital preservation when there is uncertainty in other markets.How to Choose a Gold BrokerThe predominant factors which you must consider in choosing a gold broker are:

RegulationCertain regulations guide the trading of gold. For instance, the trading of gold is regulated by the Commodities and Futures Trading Commission (CFTC). The CFTC sets regulations on how retail participation in gold trading can be carried out, and sets out mandates for brokers on enforcement of same. For instance, brokers are mandated to offer gold futures and options contracts at a leverage not exceeding 1:20.

This rule effectively locked out many traders from the platforms of US brokers.We see more of retail gold CFD trading on the platforms of ASIC-regulated, CySEC-regulated, and FCA-regulated brokers. The contract specifications will differ from one region to another. Ensure you are able to select a broker that makes it affordable for you to trade gold.

Gold Trading PlatformsThe platforms that are offered for gold trading are also important. Many market makers offer the MT4 platform and list gold as a pairing against the USD (XAU/USD) on these platforms. You will also see gold listed on brokerages that offer the ActTrader and JForex platforms, as well as the cTrader and the various mobile apps.

Prior to 2015, users of Currenex were unable to trade gold as a listed asset as this professional trading platform was solely dedicated to the trading of currency assets.

However, gold trading was introduced into Currenex on January 19, 2015 as a pairing of both gold/USD and gold/EUR.Gold Automated Trading Software Gold can be traded with EAs. The platforms on which gold CFDs can be traded have been identified. EAs can be programmed for them using the various programming languages. Professional traders who trade with advanced platforms such as Currenex, LMAX and cTrader, have to opt for algorithmic trading software which is offered as part of the general package provided to traders.

Gold Trading Account TypesGold can be traded in both directions: upwards or downwards. Some brokers know the inherent risks involved in trading of gold, and that is why they have come up with various strata of accounts to cater for different categories of traders. Although each broker will present their own variety of trading accounts, there is a broad classification of gold trading account types into three:

Commissions and SpreadsGold trading on forex platforms is usually commission-free. However, gold is marked out from other assets as having the largest spreads of any asset on the forex platforms. Some platforms offer gold with spreads of up to 80 pips. This, combined with the margin requirements, make gold more expensive to trade than the regular currency pairs.Traders who want to trade gold have to be prepared financially for it. The range of price movements can be very high. Price movement between the high and low prices on November 9, 2016 was as high as $68.50, equating to 6,850 pips. This sort of volatility is not what a trader should toy with.ConclusionWe have a list of gold trading brokers for you. How did we come up with this list of brokers?

Your broker will play a critical role in your forex trading journey. Thus, it’s important to understand how forex broker Philippines works and know the best options available.

A forex broker is a financial services company that works as a middleman between traders and the foreign exchange market by executing buy or sell orders placed by their clients. Aside from forex, brokers also enable their clients to trade on other assets such as stocks, indices, commodities, metals, and crypto currencies.

Typically, FX brokers are international companies based abroad. But even without a Philippine-based headquarters, some forex brokers can serve Filipino clients because all transactions—from account opening to fund withdrawals—are done online.

forex broker Philippines - forex broker meaning

Forex brokers offer a range of services that makes trading foreign currencies easier and more affordable for their clients.

To trade currencies in the marketplace, you need to set up a trading account. A forex broker Philippines lets you do that, so you can start trading forex online.

FX brokerages make forex trading platforms available to their clients for placing buy and sell orders, which brokers will execute. The MetaTrader 4 (MT4) forex trading software is widely used among traders today. In addition to MT4 integration, some forex brokers in the Philippines also offer their own proprietary trading platform.

Most forex trading sites have beginner-friendly features such as educational tools and resources to help first-timers learn the ropes of trading currencies. They also provide a free demo account that new traders can use to practice trading using virtual money without risk. For advanced traders, demo accounts enable them to test new strategies.

Some brokers also offer a copy trading feature (also called social trading) that allows inexperienced traders to automatically replicate the trades of successful traders. In doing so, newbies learn from the pros. Experienced traders also benefit from copy trading, as it allows them to earn more money by selling their trading signals.

Traders can borrow money from their broker to buy a larger volume of currencies with a smaller capital. This forex broker service is called leverage, which is expressed in a ratio. For example, if your forex trading account is leveraged at 100:1, this means you can trade 100 times the amount you put into your trade.

Forex trading platforms provide traders with the necessary data to track and analyze the market, so they can make the best trading decision.

Read more: Forex Trading in the Philippines: Complete Guide for Newbie Traders

forex broker Philippines - how forex brokers make money

In return for the services they provide, forex brokers in the Philippines make a profit in two ways: collecting bid-ask spreads and charging fees.

Unlike stock brokers, most forex brokers don’t charge any commissions. Instead, they take a cut from executed trades through spreads.

A spread is the difference between the bid price and the ask price for a currency pair. The bid price is the highest price a buyer is willing to pay, while the ask price is the lowest price a seller is willing to accept.

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Spreads are calculated in pips (short for point in percentage), which is the fourth decimal point of a price. For example, if the EUR-USD pair is priced as 1.1000 bid and 1.1015 ask, the difference is 0.0015 or 1.5 pips—this is the spread that the forex broker will collect for performing the trade.

Whether you gain or lose on your forex trade, your broker will still make money on the spread.

FX brokers also earn from charging different fees from clients. Here are the common forex broker Philippines fees traders may incur:

Here are the top-rated global brokerage companies that serve clients in the Philippines. They make it to this list of the best forex broker Philippines because they are highly regulated, charge low fees, and/or have excellent trading platforms and research tools, among other features.

forex broker Philippines - etoro

eToro[1] caters to millions of forex traders of all experience levels in over 140 countries including the Philippines.

The MetaTrader platform is not available on the forex trading site, but eToro’s own social trading platform is more than enough because it’s innovative and beginner-friendly. Through a social news feed built into the forex trading site, eToro users can follow and interact with fellow traders to broaden or share their knowledge.

forex broker philippines - forex.com

FOREX.com[2] is a US-based broker that operates in over 180 countries with 430,000+ customers worldwide. It performs trades fast, with 99.78% of trades executed in less than 1 second and average execution speed of 0.05 seconds. The forex broker also provides high-volume traders with benefits such as up to 15% cash rebates on trades. Thus, FOREX.com is ideal for active traders who buy and sell currencies in large volumes.

forex broker philippines - xm global

XM Global[3] is a multi-awarded and highly regulated online forex broker with international licenses in five jurisdictions and serving over 3.5 million clients from 196 countries including the Philippines. Forex trading is made easy with a wide range of research tools and a low minimum deposit of only five dollars.

Read more: XM Global Guide to Start Your Trading Journey

forex broker philippines - iq option

IQ Option[4] has more than 48 million registered traders from 200+ countries, including the Philippines, with 1.3+ million trades executed daily. In the absence of MetaTrader platforms, IQ Option offers its own mobile trading platform customized to the user’s trading needs.

The forex trading site features a demo account (with refillable virtual funds worth USD 10,000) that allows for unlimited practice. This helps new traders learn forex trading at their own pace with no risk.

Unlike many online forex brokers in the Philippines, IQ Option does not charge rollovers for holding positions overnight.

Read more: IQ Option for Beginners: A Guide to Using the Online Trading Platform

AvaTrade

forex broker philippines - avatrade

Established in 2006, AvaTrade[5] is one of the pioneers of CFD trading on commodities, stocks, and indices. Today, it serves 300,000 registered users globally and executes over three million trades monthly.

AvaTrade Key Features:

FP Markets

forex broker philippines - fp markets

With 15 years of trading experience, FP Markets[6] offers consistently tight spreads from as low as 0.0 pips on the major currency pairs. Account opening, deposits, and withdrawals are easy and quick.

FP Markets Key Features:

NordFX

forex broker philippines - nord fx

With more than 10 years of forex trading experience, NordFX[7] manages over 1.5 million trading accounts from almost 190 countries. Its fast trade execution of 0.5 seconds makes it the best forex broker Philippines for those who trade large volumes of assets. NordFX offers copy trading for people who want to try passive investing.

NordFX Key Features:

FXTM

forex broker philippines - fxtm

FXTM[8] was launched in 2011 and now has more than three million clients from 180 countries. The company offers copy trading and a wide selection of trading instruments and forex educational tools.

Oinvest

forex broker philippines - oinvest

Registered and licensed in Seychelles, Oinvest[9] allows traders to trade over 350 instruments, including forex, in multiple global financial markets.

Oinvest Key Features:

Choosing the right forex broker Philippines is just as important as knowing how to trade currencies. Take your time researching and comparing different online brokers to see which one is the best fit based on your trading needs and preferences. Finding a forex broker Philippines will take time and effort but research is important to ensure you trade with a platform you know and trust.