Invest10 Best Commodity Trading Apps of 2022

10 Best Commodity Trading Apps of 2022

The commodities market is one of the most important asset classes in the world, as it influences nearly all aspects of our day-to-day lives.

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Look no further if you want to diversify your investment portfolio and start investing in commodities. Commodity trading enables you to speculate on the global market for real goods like gold, oil, wheat, coffee, and more.

In this article, we’ll look at the top 10 commodity trading apps for 2022 and show you how to get started trading commodities.

Best Commodity Trading Apps Reviewed

It’s critical to find the best commodity trading software if you want to succeed in the dynamic commodities market. So, let’s have a look at each of the top ten commodity trading applications to assist you to decide which one is best for you.

Let’s take a look at how they compare in terms of pricing:

Commodity AppCommissionSpot Gold SpreadSpot Crude Oil SpreadDeposit FeeWithdrawal FeeInactivity Fee
eToroNone45 pips5 pipsNone$5 per withdrawal$10 per month after 12 months
TD Ameritrade$2.25 per contractN/AN/ANoneNoneNone
Capital.comNone1.41 pips0.44 pipsNoneNoneNone
Charles Schwab$1.50 per contractNoneNoneNoneNoneN/A
AvaTradeNone0.34 pips0.03 pipsNoneNone$50 per month after 3 months
Forex.comNone2.0 pipsN/ANone$25 per withdrawal under $10,000$15 per month after 12 months
Plus500None1.12 pips0.04 pipsNoneNone$10 per month after 3 months
IGNone0.3 pips2.8 pipsNoneNone$12 per month after 24 months
Interactive Brokers$0.25-$0.85 per contract0.15 pipsN/ANoneNone$20 per month
Libertex0.03-0.78%N/AN/ANoneNone$5 per month after 6 months
Data as of 02/2022

Top Commodity Trading Apps 2022

Here are our picks for the 10 best commodity trading apps in 2022:

  • eToro – Overall Best Commodity Broker with 0% Commission
  • TD Ameritrade – Best Commodity Trading App for Technical Analysis
  • Capital.com – Best Commodity Trading App for Oil Futures Trading
  • Charles Schwab – Best Commodity Broker for New Traders
  • Libertex – Top Commodity Trading App with Zero Spreads
  • AvaTrade – Social Commodity Trading App for iPhone and Android
  • Forex.com – Best Commodity Broker for Gold and Silver Trading
  • Plus500 – Ultra-low Commodity Trading Spreads for iOS and Android
  • IG – Widest Range of Hard and Soft Commodities to Trade
  • Interactive Brokers – Best Android Commodity Trading App for Algo Trading

1. eToro – Overall Best Commodity Broker with 0% Commission

etoro
CommissionSpot Gold SpreadSpot Crude Oil SpreadDeposit FeeWithdrawal FeeInactivity Fee
None45 pips5 pipsNone$5 per withdrawal$10 per month after 12 months

eToro is the #1 social trading platform worldwide. The Israeli startup was founded in 2006 and has grown steadily to be a community of nine million traders from all over the world.

eToro allows users to invest or trade in CFDs (Contracts for Difference) on 50 different assets, including commodities, cryptocurrencies, and options trading. The platform has 0% commission, so you don’t have to pay any fees to invest or trade in gold, oil, silver or other popular commodities.

eToro was ranked #1 as the best cryptocurrency app and best forex broker for 2022.

2. TD Ameritrade – Best Commodity Trading App for Technical Analysis

td ameritrade
CommissionSpot Gold SpreadSpot Crude Oil SpreadDeposit FeeWithdrawal FeeInactivity Fee
TD Ameritrade$2.25 per contractN/AN/ANoneNoneNone

TD Ameritrade is a popular online trading platform that allows users to trade commodities such as silver and gold. The brokerage firm has been in business since 1975, and is regulated by the Securities Exchange Commission (SEC).

Only futures contracts are available through TD Ameritrade for commodities trading, not CFDs. As a result, you must predict both the timing and the direction of price changes.

With options contracts, you can buy and sell a variety of commodities, such as gold, silver, light sweet crude, corn, and soybeans. This is significant since it enables you to construct more sophisticated hedging methods while also increasing your leverage.

3. Capital.com – Best Commodity Trading App for Oil Futures Trading

capital.com
CommissionSpot Gold SpreadSpot Crude Oil SpreadDeposit FeeWithdrawal Fee
Inactivity Fee
Capital.comNone1.41 pips0.44 pipsNoneNoneNone
Data as of 01/10/2022

If you’re looking for a day trading app that works with oil futures on CFDs, the Capital.com software is probably the best commodity trading tool for you. Futures contracts denominated in WTI and Brent crude oil are available. Gold and silver can be traded as well. Of course, precious metals and agricultural items from the United States and the United Kingdom are also available for trading.

With Capital.com, you have major global markets at your fingertips. Trade wherever you are, whenever you want to. It has never been more accessible.

4. Charles Schwab – Best Commodity Broker for New Traders

Schwab
Commission
Spot Gold Spread
Spot Crude Oil SpreadDeposit FeeWithdrawal FeeInactivity Fee
Charles Schwab$1.50 per contractNoneNoneNoneNoneN/A

Schwab is a big broker that provides practically every kind of investment imaginable, including commodities futures. Although the range is somewhat restricted when compared to competitors, you can trade gold, silver, and crude oil as well as a few unusual items like steel and electricity.

It is very cheap to trade on the Charles Schwab mobile app. You’ll be charged a commission of $1.50 for each futures contract trade, as well as no extra spread. Notably, Schwab provides a guarantee with your commission payment. If you don’t like how your broker executes a trade, you may get your money back.

5. Libertex – Top Commodity Trading App with Zero Spreads

libertex
CommissionSpot Gold SpreadSpot Crude Oil SpreadDeposit FeeWithdrawal FeeInactivity Fee
Libertex0.03-0.78%N/AN/ANoneNone$5 per month after 6 months

Libertex is another top trading platform with a mobile application. The company was founded in 2011, and is registered in the UK.

Libertex offers great spreads on CFDs for many commodities, including gold, silver, oil, wheat, copper, coffee or sugar. You will also be able to trade in precious metals like platinum using the Libertex app.

6. AvaTrade – Social Commodity Trading App for iPhone and Android

avatrade

Commission
Spot Gold SpreadSpot Crude Oil SpreadDeposit Fee
Withdrawal Fee
Inactivity Fee
AvaTradeNone0.34 pips0.03 pipsNoneNone$50 per month after 3 months

AvaTrade is a very popular trading platform, which has been in business since 2012. The company allows users to trade CFDs on a large number of assets including commodities.

You can learn from other traders and follow them on AvaTrade, but your account will be your own, so you are free to take advantage of market opportunities when they appear.

7. Forex.com – Best Commodity Broker for Gold and Silver Trading

forex.com
CommissionSpot Gold SpreadSpot Crude Oil SpreadDeposit FeeWithdrawal FeeInactivity Fee
Forex.comNone2.0 pipsN/ANone$25 per withdrawal under $10,000$15 per month after 12 months

Forex.com is a growing trading platform that was started in the year 2001. The company has its headquarters in London, and is now owned by GAIN Capital Group.

Forex.com allows traders to speculate on the price of gold or silver, which are both popular commodities that can be traded with CFDs. There are also many other assets you can trade using this platform.

8. Plus500 – Ultra-low Commodity Trading Spreads for iOS and Android

plus500
CommissionSpot Gold SpreadSpot Crude Oil SpreadDeposit FeeWithdrawal FeeInactivity Fee
Plus500None1.12 pips0.04 pipsNoneNone$10 per month after 3 months

Plus500 offers CFDs on commodities like gold, silver, crude oil or natural gas that can be traded through their mobile application. The company was established in 2008 and has evolved into a profitable global business with offices worldwide.

Plus500 offers ultra-low spreads allowing you to trade with very little cost of entry. If you’re looking for low fees you can begin trading with no deposit or withdrawal fees.

9. IG – Widest Range of Hard and Soft Commodities to Trade

IG
CommissionSpot Gold SpreadSpot Crude Oil SpreadDeposit FeeWithdrawal FeeInactivity Fee
IGNone0.3 pips2.8 pipsNoneNone$12 per month after 24 months

IG is a CFD and spread betting broker that offers a broad spectrum of commodities to trade. The firm has 35 different commodities, including many of which may be traded through both spot and futures contracts.

Traders who aren’t comfortable speculating directly on product prices may use IG to trade commodity equities and ETFs.

10. Interactive Brokers – Best Android Commodity Trading App for Algo Trading

interactive brokers
CommissionSpot Gold SpreadSpot Crude Oil SpreadDeposit FeeWithdrawal FeeInactivity Fee
Interactive Brokers$0.25-$0.85 per contract0.15 pipsN/ANoneNone$20 per month

Interactive Brokers is a cutting-edge online trading platform suitable for commodity traders with a high level of flexibility. This firm offers a variety of futures contracts in precious metals, energy derivatives, and well-known soft commodities.

Spot contracts for gold and silver are also available to traders outside of the United States, with spreads as low as 0.15 pips – the tightest spread of any broker we reviewed.

Commodities Trading – How to Invest Profitably

The commodities market is one of the most important asset classes in the world, as it influences nearly all aspects of our day to day lives. It is ideal for beginners due to its flexibility and volatility, which can bring great returns over a long period of time. Read more below and find out how you can trade them in a profitable way!

What are Commodities

Commodities are interchangeable goods that are used in manufacturing processes around the world and they are an important part of our everyday life. They can be divided into major categories:

  1. Precious metals (gold, silver, copper, palladium, and platinum).
  2. Energy resources (natural gas, crude oil, coal, and propane).
  3. Agricultural – soft commodities (coffee, corn, sugar, cotton, soybeans, rice, and cocoa).
  4. Livestock (pork bellies, live cattle, feeder cattle, and lean hogs).

Now that you know which they are, you’ve probably identified at least 3 commodities that you use on a daily basis. The price of your morning coffee or the gas you use to drive to work every day depends on the supply and demand, as well as on the way these assets perform on the commodities market.  

How to Trade Commodities in a Profitable Way

To gain access to this market, foremost, you need to register for an account with an online broker that offers commodity trading from gold and crude oil to pork bellies and coffee. These assets are an efficient way to expand and diversify your portfolio.

After you’ve opened an account, you must choose the preferred way to trade these securities. These are your options:

Commodities Futures

This is the most popular way to trade commodities and it is done through a futures contract. This contract represents the agreement to buy or sell a specific quantity from a commodity at a specified price and date.

Commodity Stocks

Investing in a commodity stock means buying shares from a corporation that manufactures and sells a certain commodity or operates in an industry related to it. Let’s say you’re thinking of investing in gold, but you don’t want to invest directly in the asset. In this case, you can buy shares from mining firms, refineries, or any other companies that deal with bullion. 

Exchange Traded Funds (ETFs)

Commodity ETFs work in a similar way as stocks do, the difference being that they buy physical commodities and then offer shares to traders that represent an amount of a particular asset. In this way, you can profit off the price moves without the actual risk of holding a futures contract.

Trading commodities, in any form, involves substantial risk of loss. To maximize your chances of getting profits, you can create a research-based trading plan to follow. Turn the objectives into a routine. For example, it’s extremely important to familiarize yourself with the factors that move the commodities markets and analyze them before every trade. Supply and demand, production interruptions, inflation or the weather are some of the major variables that impact commodities and you must keep an eye of them at all times.

Keeping a trading journal can also be very beneficial, as you’ll gather valuable information about the commodities you’re trading, while also learning from both your mistakes and successful trades.

Commodities Trading – Pros and Cons

Pros

Let’s start with the pros! As mentioned at the beginning of the article, this market is completely flexible, allowing you to trade 24/7.

This advantage will come in handy, especially when you’re just getting started and trading isn’t your main source of income.

In addition, given how volatile the market is, whether you go long or go short, the returns can be superb.

Minimum-deposit accounts provided by the broker also control full-size contracts that you would probably not be able to afford otherwise.

Another advantage is that, unlike other securities, commodities perform well and can bring great profits when inflation is high.

The assets are also more lucrative than other classes in the long run. All in all, it is the safest trading type, suitable for a beginner.

Cons

The fact that the market is so volatile can turn against you at any time and cause a substantial loss of capital. There are also concerns among experts that commodities like silver is a bad investment.

The investment costs are also relatively high in comparison with other types of assets, but it mostly depends on the broker.

It’s important to trade with an online firm that is transparent about the commissions it charges and the overall costs.

The Bottom Line

Commodities represent one of the most important asset classes in the world and are part of our daily life. You can trade them as futures, stocks, or ETFs – depending on your style and financial goals.

The market is extremely volatile and in order to maximize your chances of gaining profits – you need to choose a reliable broker and come up with a solid trading plan.

Stay focused on the reason you’re trading for and learn from every experience, this is the only way you’ll succeed in such a competitive market!

Brian Meiggs
Brian Meiggs
Founder of Smarts, Brian is an entrepreneur and investor who enjoys working out, reading, spending time with his family and friends, playing chess, traveling and creating great content. He’s passionate about helping others make smarter money moves and achieve financial freedom. He uses the free Personal Capital app to manage his cash flow and net worth.
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