Brokers for trading gold and silver

Some traders claim that trading precious metals brings them the greatest profits. It's best to test this claim in practice, but for this purpose, you'll need brokers specializing in gold and silver trading.

I'll provide a list of such companies below, along with spreads for the required instruments. Before I do, let's discuss the selection process itself.

When taking such a crucial step, it's essential to know what to look for first.

The main points have already been described in the article " Choosing a Forex Broker ," and now we will focus only on those that are important when trading silver and gold.

List of brokers for trading precious metals with spreads:

If the spread size is specified as “from”, it is assumed that there is a floating spread and its minimum possible size is specified.

1. First of all, the required trading instrument must be present in the contract specifications provided by the broker. Typically, gold and silver are specified as XAUUSD and XAGUSD, respectively. However, other options are also possible, such as Gold and Silver.

2. Secondly, the spread is, of course. When trading precious metals, this is especially important, as the spread can range from 1 to 100, which obviously significantly impacts trading results.

3. Maximum trade duration – precious metals are typically used for long-term trading, so before opening an account, check the broker for gold or silver trading to ensure there are no such restrictions.

Also, keep in mind that the commission can vary significantly depending on the account type; it will naturally be several times higher on cent accounts than on PRO or VIP accounts.