Brokers platinum and other important points when trading this precious metal

Platinum is a precious metal valued for its beauty, durability and resistance to corrosion.

It is also used in various industrial processes such as the production of catalysts, jewelry and electronics.

Exchange trading of this metal today is not as popular as gold and silver, but still has its admirers.

The main difficulty in this case is to find a broker who would allow opening transactions on such an asset as Platinum.

This is quite difficult, but still quite realistic. Today I will give an example of several such companies, and then I will tell you what else is important if you decide to try your hand at trading this interesting asset.

Stock brokers trading platinum

AMarkets is a broker with 15 years of experience in the Forex market. The company offers a wide range of services, including forex trading, CFD trading, trading of metals, including platinum, energy, indices and shares.

AMarkets is regulated by the FCA, CySEC and ASIC, which guarantees the safety of clients.

Basic trading conditions of AMarkets:

• Spreads: from 0.2 points
• Minimum deposit: $200
• Withdrawal: up to $100,000 per day
• Platforms: MetaTrader 4 and MetaTrader 5
• Customer support: 24/7 in Russian, English and other languages

Disadvantages of AMarkets:

• Having an initial deposit of $200
• Not a large range of assets for the stock market

AMarkets is a reliable and popular broker, the number of clients of which has long exceeded a million; the company is distinguished by loyalty to clients and speed of order execution. 

Amarkets company website - www.amarkets.org

ForexClub is a broker with 25 years of experience in the Forex market. The company offers a wide range of services, trading in cryptocurrencies, CFD contracts , metals including platinum, and other assets.

Basic trading conditions of Forex Club:

• Spreads: from 0.00 points
• Minimum deposit: $200
• Platforms: MetaTrader 4, MetaTrader 5, cTrader, Webtrader
• Customer support: 24/7 in Russian and English

Disadvantages of Forex Club:

• Some trading conditions may not be favorable for experienced traders
• Not all countries can use the services of the Forex Club, including Russia and Belarus

Overall, ForexClub is a reliable and popular broker that offers a wide range of services and favorable trading conditions. Its unique offering makes it attractive to traders of all experience levels.

ForexClub website - www.fxclub.org

RoboForex is a brokerage company founded in 2009. The company is regulated by the FSC and provides exchange trading services in such instruments as currencies, cryptocurrencies, precious metals, stocks, indices, it is possible to open transactions in platinum and other metals.

Basic trading conditions:

• Spreads: from 0 pips
• Commissions: 0%
• Minimum deposit: 10 USD
• Platforms: MetaTrader 4, MetaTrader 5, R StocksTrader
• Customer support: 24/7 in Russian and English

Flaws:

• There is no Russian language on the site

In general, RoboForex is a reliable broker that offers a wide range of trading conditions and favorable prices; you can test the company both on a demo and on a cent account. In addition, new customers are given a no deposit bonus of $30.

RoboForex website - https://roboforex.com/

Important points when trading platinum on the exchange

Trading of platinum on the exchange is carried out in the form of futures contracts. A futures contract is an agreement to buy or sell a specified amount of metal at a specific price on a specific date in the future. Therefore, do not forget to check the terms of contract closure before opening a position.

The quotation of platinum on the stock exchange is measured in troy ounces. One troy ounce is equal to 31.1034768 grams.

The size of one lot in an exchange transaction, depending on the broker, ranges from 50 to 150 troy ounces.

Commissions for opening and maintaining transactions

When trading platinum on an exchange, there are two main types of commissions – spread and swap.

A platinum swap is an interest rate paid by the buyer or seller of platinum in exchange for ownership of the metal for a specified period of time.

Spread is the difference between the purchase price and sale price of the metal; it is charged when opening each new transaction and depending on the volume of the position being opened. Also, the size of the spread depends on the broker through which transactions are opened.

Factors influencing the price of platinum

The price of platinum on world exchanges is influenced by the following factors:

Supply and demand for metal - the demand for platinum in various industries. Today, the metal is widely used in automobile manufacturing, jewelry making, and several other areas of manufacturing.

The supply of platinum is limited because it is mined in a relatively small number of countries. This means that the price of platinum can be more volatile than the price of gold .

Price movements for other precious metals - the price of platinum often moves in tandem with the price of gold. This is because platinum and gold are both precious metals and have similar characteristics.

However, platinum is a rarer commodity than gold and its price is now at its minimum. As a result, platinum may be more attractive to investors looking for safe assets.

Changes in World Economic Conditions - World economic conditions can also have an impact on the price of platinum. For example, during times of economic growth, the demand for platinum increases as the metal is used in various industrial applications.

However, during an economic downturn, demand for platinum may decline as businesses cut costs.

Natural Disasters - Natural disasters such as earthquakes, floods and volcanic eruptions can also impact the price of platinum. This is because natural disasters can damage or destroy platinum mines, reducing the supply of the metal.

Trading platinum on an exchange is a complex process that requires traders to understand the various factors that influence the value of the metal.

However, with the right approach, trading platinum can be profitable and attractive to investors. The most profitable option is to purchase platinum through a broker.