Table of contents

How to Trade Gold, Best Gold (XAUUSD) Brokers

With many years of meticulous FOREX broker testing, Arincen stands out as a voice of authority. Our analyses, shaped by exhaustive data collection, are trusted by many. Each year, we gather 120 data points from more than 100 brokers. Our team of more than 20 people collaborate extensively to produce high-quality broker reviews like this one. For a detailed explanation of how we test brokers, navigate to the bottom of this article.

Gold has been a symbol of wealth and a store of value for thousands of years. It’s often referred to as the “yellow metal” and as such, the best gold brokers have offered a hedge against inflation, political unrest, and economic instability. This is true even today. For this reason, gold trading for beginners is a sought-after topic.
Gold can be traded in many different ways, as we will show you later in this article. As with all investments, if you trade gold online, you are exposing yourself to certain risks, but it also offers a good opportunity to capitalize on price fluctuations in one of the world's most respected commodities. Selecting the best gold trading platform with which to work is crucial. As you read this article, you will come to know that  XAUUSD represents the price of one troy ounce of gold in terms of the US dollar. We will show you how to trade gold online and tell you about the best XAUUSD brokers around.

Best Gold Brokers in 2024

Company name ICM Capital
Regulations
Minimum deposit 500$
Main branch United Arab Emirates
Company name FXDD
Regulations
Minimum deposit $450
Main branch USA
Company name XTB
Regulations
Minimum deposit 500$
Main branch UK
Company name IG
Regulations
Minimum deposit 500$
Main branch UK

Top Tips for Choosing the Best Gold Brokers

There are lots of high-quality XAUUSD brokers around the world. As always, you must protect your interests by working with a broker who has a strong track record of sound management and financial success. To make the right choice, you must carry out detailed research. Here are some of the most important factors to take into consideration when choosing a broker:

Best Gold Brokers in 2024

With so many choices out there, it can be a hard job to choose the right broker. In this case, we've done the work for you. Here is a summary of each broker according to specific criteria, along with their pros and cons
ICM capital Broker

ICM capital Broker

ICM Capital is considered the industry leader in deposits and withdrawals, whereby each withdrawal does not take more than five business days. Moreover, the company offers its customers a handy credit card to withdraw their profits, in addition to enabling customers to use various deposit methods. The company, which is licensed by the UK's FCA, has several branches around the world. Among other things, it has a rich portfolio of assets, especially stocks, offers a low spread, as well as the ability to use MT4.
Broker Evaluation 8.11
Regulatory Bodies
Minimum Deposit 500$
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks - Crypto
Main Branch United Kingdom
Customer Service 24/5
Demo account yes
Trading Platforms MT4 - MT5 - C TRADER -Web Platform

Pros

  • Segregated client funds.
  • Regulated by the UK’s FCA.
  • Established in 2009.
  • More than 10,000 ICM Capital users and traders.
  • Reasonable minimum deposit from $500.
  • Decent funding options.
  • No swaps.
  • MetaTrader4 (MT4) desktop and mobile download.

Cons

  • Does not allow scalping.
  • Not ASIC-regulated.
  • Relatively limited range of instruments.
  • Slow live-chat service.
  • Relatively high trading fees.
  • Limited range of trading tools and resources
FXDD Broker

FXDD Broker

FXDD received the highest score in our survey (92.15). One of the first FOREX companies to offer a credit card in order to allow traders to withdraw their profits, this New York-based company has the UK's FCA license under its belt. It also has a rich portfolio of assets, offers a relatively low spread, in addition to the MetaTrader4 (MT4) platform. Further, it has excellent and fast customer service, and also offers traders a variety of ways to deposit money.
Broker Evaluation 7.22
Regulatory Bodies
Minimum Deposit $450
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks - Crypto
Main Branch United States of America
Customer Service 24/5
Demo account Yes
Trading Platforms MT4 - MT5 - C TRADER -Web Platform

Pros

  • Established in 2002.
  • Segregated client funds.
  • Low minimum deposits.
  • No commissions on the Standard Account.
  • A choice of two account jurisdictions.
  • Multiple platform support and comprehensive market data and analysis.
  • A good range of currency pairs and other assets to trade.

Cons

  • Not available to traders in the US.
  • Relatively limited range of instruments.
  • EU-client leverage restricted to 1:30.
XTB Broker

XTB Broker

What distinguishes XTB is the fact that it offers the best customer experience among all the companies we have surveyed. Indeed, it boasts the fastest response rate from all the companies under investigation. This is especially relevant, since the market is always on-the-go, and so you need to act fast. XTB offers lots of asset classes, as well as the ability to use the MT4 trading platform. Finally, it maintains a relatively low spread, which is suitable for quick deals.
Broker Evaluation 8.55
Regulatory Bodies
Minimum Deposit 500$
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks
Main Branch United Kingdom
Customer Service 24/5
Demo account yes
Trading Platforms MT4 - MT5 -Web Platform

Pros

  • Long history of operation.
  • Globally recognized, having won multiple awards.
  • Some of the lowest FOREX spreads in the market.
  • Regulated by the FCA (UK).
  • Offers protection for client accounts.
  • Emphasis on customer service.
  • Excellent support, learning and research tools.

Cons

  • Does not accept US clients.
  • Non-FOREX spread costs are relatively high.
  • No GSLO.
  • No back-testing or automated trading capabilities.
  • Conditions vary according to regulation and entity.
ig markets Broker

ig markets Broker

IG is arguably the best broker when it comes to security and trust, boasting, as it does, licenses from 10 regulatory bodies, including the all-important FCA from the UK. The company is also a bank and is a publicly traded company in London. It is known for offering more than 10,000 asset classes of currencies, commodities, future contracts, ETFs, indices, cryptocurrencies etc. Further, it has its own state-of-the-art trading platform and offers a relatively low spread.
Broker Evaluation 7.54
Regulatory Bodies
Minimum Deposit 250$
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks
Main Branch United Kingdom
Customer Service 24/5
Demo account Yes
Trading Platforms Proprietary Platform -MT4 - Web Platform

Pros

  • Easy-to-navigate platform that is simple for beginners to master.
  • Margin rates are easy to understand and affordable.
  • Mobile and tablet platforms offer full functionality of the desktop version.
  • Accepts US clients.
  • Access to more than 100 currency pairs
  • Emphasis on education and research.
  • Regulated by the FCA (UK), as well as the CFTC and the NFA (US).
  • Offers protection for UK/EU client accounts.

Cons

  • US traders can currently only trade FOREX.
  • No GSLO for US-based traders.
  • No account protection for US clients.
  • Relatively high share-CFD fees.
  • No copy trading or back-testing integration on IG platform.
SAXO BANK Broker

SAXO BANK Broker

Saxobank is considered one of the best investment banks in the area of financial markets and currencies, as it offers the very best trading platform and tools from all the companies we have reviewed. Meanwhile, its spread is very low and, as such, suitable for short-term deals; and it offers a large number of asset classes, including currencies, commodities, indices etc. Finally, its customer service is excellent and very responsive to traders' needs.
Broker Evaluation 6.09
Regulatory Bodies
Minimum Deposit 10000$
Islamic Account No
Payment Methods Bank transfer - credit card
Main Branch Copenhagen, Denmark
Customer Service 24/5
Demo account No
Trading Platforms SaxoTrader

Pros

  • Extensive range of offerings.
  • Regulated by the FCA (UK) and other top regulators.
  • Great trading platform.
  • Among the industry’s best research.
  • Superior user interface.
  • Offers protection for client accounts.

Cons

  • High bond, options and futures fees.
  • Lack of emphasis on customer service.
  • Confusing instrument fee structures.
  • High minimum deposit.
  • Does not accept US clients.
  • No MT4.
  • Lacks live chat.
CMC MARKETS Broker

CMC MARKETS Broker

CMC Markets is thought of as one the best companies, offering some 9,000 asset classes that encompass currencies, commodities, indices, cryptocurrencies, bonds and stocks. The company offers a relatively low spread, the MT4 platform, and fast customer service. It is most suited for traders looking for diversity in asset classes.
Broker Evaluation 7.07
Regulatory Bodies
Minimum Deposit 0$
Islamic Account No
Payment Methods Bank transfer - credit card - Electronic Banks
Main Branch United Kingdom
Customer Service 24/5
Demo account not
Trading Platforms Proprietary Platform -MT4 - Web Platform

Pros

  • Extensive range of offerings.
  • Regulated by the FCA (UK).
  • Low FOREX fees.
  • Emphasis on education and customer service.
  • Great Web and mobile platforms.
  • Offers protection for client accounts.
  • Research amenities are industry leading.

Cons

  • Does not accept US clients.
  • Limited product portfolio.
  • High stock CFD fees.
  • High CFD spreads for certain indices.
  • Differences between Next Generation and MT4.
  • Complicated account verification.
  • No back-testing or automated trading capabilities.
think markets Broker

think markets Broker

Originally founded in New Zealand in 2010, and moving to Australia within the space of their first two years, Think Markets is a global online brokerage focusing on FOREX and CFD trading. In addition to a range of major and minor currency pairs. Think Markets has an array of CFDs on offer. This includes indices, as well as hard and soft commodities.
Broker Evaluation 8.05
Regulatory Bodies
Minimum Deposit 0$
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks - Crypto
Main Branch Australia
Customer Service 24/5
Demo account not
Trading Platforms Proprietary Platform -Web platform-mt4- mt5

Pros

  • Beginner assistance offered through 24/6 channels.
  • Spreads are as low as 0.0 pips.
  • 24/7 expert customer service.
  • CFD shares and indices come at no extra fee.
  • Zero broker fees for FOREX trading.
  • Technical analysis and quality market information.
  • Percentage allocation management module (PAMM) and Multi-account manager (MAM) accounts available.

Cons

  • Direct share trading is on a separate platform.
  • No binary options offered.
  • Commissions charged for two account types.
  • After a strong early start, ThinkTrader user ratings have slid to 3.4 stars.
  • No US, Canada or Japan clients allowed.

There is a high degree of risk involved in trading securities like FOREX, or CFDs, which are highly complex instruments. As a trader, you could be exposed to excessive leverage, questionable broker tactics, market volatility, and limited regulatory protection. Despite your best trading techniques and risk management strategies, your efforts may not be profitable, and you could suffer losses.

What Are the Different Ways to Invest in Gold?

Gold is a versatile asset. Depending on your needs and your strategy, you can invest in gold in a few different ways:

Gold Bullion:

Gold bullion is the name for physical gold in the form of bars or coins. This traditional way of investing in gold has been around for many centuries and exists even today. When you buy gold bullion, you own a tangible asset that has intrinsic value. This tangible investment cannot default like some electronic investments, and once you hold the physical gold bars or coins, you have its wealth for as long as gold retains its value.

Spot Gold:

The spot gold market deals with the immediate buying or selling of gold at current prices. The "spot" refers to the current market price. Trades are normally settled "on the spot," as opposed to a date in the future. If you were to invest in the spot gold market, you wouldn’t take physical delivery of the metal. Rather, you merely own a claim to the gold.

Gold Futures:

Gold futures are standardized contracts where the buyer agrees to purchase, and the seller agrees to deliver, a specified amount of gold at an agreed-upon price on a set date in the future. You can enter into one of these contracts on a futures exchange. You can trade gold futures on leverage, meaning you could make a lot of money or lose a lot of money.

Gold ETFs (Exchange-Traded Funds):

Gold ETFs are investment funds traded on stock exchanges that aim to track the price of gold. Instead of owning physical gold, you merely own a share of the ETF. These shares represent a portion of the fund's gold holdings. Gold ETFs are known as a more liquid and accessible means of investing in gold. Trading this way is similar to selling shares because you can sell your gold shares just like you would a company’s share.

Gold CFDs (Contract for Difference):

Gold CFDs allow you to speculate on the price movements of gold without actually owning the physical metal. A CFD is a contract between you (the buyer) and a seller where the seller pays you the difference between the current value of gold and its value at contract time. If the difference is negative, then you own the seller. If it’s positive, you get paid.

Gold Options:

Gold options provide investors the right, but not the obligation, to buy or sell gold at a predetermined price on or before a specified date. They offer flexibility and can be used for both speculation and hedging purposes. You should know that options trading can be complex. The value of gold options is affected by factors such as the price of gold, time remaining until expiration, and volatility.
Each method of investing or trading in gold has its own pros and cons. Before investing in gold, you should always carefully evaluate your financial goals and risk tolerance.
** Different between CFDs and Futures:
A futures contract remains valid up until its expiration date. In contrast, Contracts for Difference (CFDs) do not have a set expiration date, allowing traders to maintain an open position for an indefinite period. Additionally, CFDs do not have predetermined prices; instead, they are traded based on fluctuating buy and sell prices.
Best Gold (XAUUSD) Brokers

How to Open a Trading Account to Start Trading Gold?

Opening a gold trading account is easy. Once you have chosen your preferred broker, you must start by filling out an application form as part of the “open account” process. Normally, you will be asked to provide documents to support your application. These could include your national identity document and proof of address. This is part of standard Know Your Customer (KYC) regulations.
Once your account has been approved, you will be able to fund your account by making the first deposit. After your account is funded, you can start to trade.

How Much Do Beginners Need to Start to Trade?

You don’t need much to get started. Some of the best gold brokers allow you to start trading with a manageable amount under $100. Of course, you need to capitalize your account with at least some money that will allow you to place trades. The amount is really up to you. However, it is recommended that you start by placing small trades to get to grips with the practice of trading as well as your broker’s website before you move on to placing trades with more money.

How to Start Learning about Gold Trading

A trading website like en.arincen.com is a great place to start. We have a large list of curated articles that can give you all the information you need on common gold trading terms, like pips, spreads, leverage, and support and resistance. Additionally, once on our website, you will find helpful video courses that cover the basics of gold trading. With this range of knowledge, you will be well on your way to trading success.
Remember also that your broker will normally have developed a detailed education and research repository themselves. That is also a good place to bolster your gold knowledge, with the extra benefit that your broker’s information will be slanted toward their own platform and resources, which makes it doubly useful.

Tip: Invest in Your knowledge
For every aspiring retail trader, knowledge is key to a successful trading journey. We invite you to delve into Arincen's goldmine of insights, strategies, and expert analyses. Whether you're just embarking on your trading venture or trying to level up your trading game, our resources are designed to give you all the information you need. Visit our educational resources here.

Can You Trade Without Prior Experience?

It is always advisable to keep expanding your experience in the world of trading. The Arincen network was created for those who don’t have enough experience to trade on their own. This is because you can follow the experts on our network and apply their signals and strategies in your trading account with ease, and you can review the statistics of the experts and review their history to ensure they are good for trading the assets you want. For example, if you prefer to trade only in gold or any other group of assets, you can review the best gold experts and traders in the network.

Tip for those who have no experience
We believe that a solid foundation in education and research is essential for every successful trader. That’s why we’ve created a set of resources specifically for you. Our comprehensive articles provide an understanding of the basics, while our videos offer insights from industry insiders. Stay updated with the latest developments in the market through our newsfeed, signals, and detailed analytics.

Differences Between Physical Gold Trading and CFD Gold Trading

Physical gold trading and CFD gold trading are two different methods of trading on the gold market. Each has its unique features. Here's a breakdown:

Ownership:

Physical Gold: When you buy physical gold, you own a tangible asset.
CFD Gold: When trading gold through CFDs, you do not own the actual gold. Instead, you're entering a contract based on the future price movement of gold.

Liquidity:

Physical Gold: Selling physical gold might require verification of its authenticity and quality, so it’s not an instant sell.
CFD Gold: CFDs offer high liquidity. You can quickly enter or exit positions, often within seconds.

Leverage:

Physical Gold: Generally, when you buy physical gold, you pay the full price upfront.
CFD Gold: You can perform leveraged trading on the gold market. This means you can control a large position with a relatively small amount of capital. Beware of the risks.

Costs and Fees:

Physical Gold: There could be premiums and transportation costs when buying physical gold. When selling, there might be testing costs associated with verifying the gold's authenticity.
CFD Gold: CFDs typically involve paying a spread. Depending on the broker, there might also be overnight financing fees or rollover costs.
While both physical gold trading and CFD gold trading provide ways to engage with the gold market, they cater to different needs and risk profiles.

How to Buy a Lot of Gold with Lower Capital?

Let’s say you only had $500 to invest in gold, but you wanted exposure to a larger amount. How would you do it? For this example, work with your $500 opening capital being put to work to expose you to four times that amount, i.e., $2000. Leverage is the only way to achieve this. Here's how you can do it:
Leveraged Gold ETFs: Some ETFs offer leveraged exposure to gold. For example, a 2x leveraged gold ETF aims to give you twice the daily return of the gold price.
Gold Futures: Futures contracts allow you to control a large amount of an asset for a relatively small initial margin. If gold futures are trading in a way that one contract represents 100 ounces of gold, a $20 movement in gold prices equates to a $2,000 change in the contract's value. If the initial margin requirement is $500, then you could potentially control that $2,000 worth of gold for $500. Remember that futures are highly leveraged, and while they can amplify gains, they can also magnify losses.
Gold CFDs: CFDs also make the most of leverage. You can open a position in a gold CFD by depositing only a fraction of the total trade value, often referred to as a margin. Like futures, CFDs can also amplify both gains and losses.
Margin Accounts: Some brokers offer you the chance to buy gold on margin, meaning they'll lend you money to purchase more gold than you could with your initial deposit. A $500 deposit in a 4:1 margin account, for instance, could allow you to purchase up to $2,000 worth of gold.

Tip: Invest in Your knowledge
For every aspiring retail trader, knowledge is key to a successful trading journey. We invite you to delve into Arincen's goldmine of insights, strategies, and expert analyses. Whether you're just embarking on your trading venture or trying to level up your trading game, our resources are designed to give you all the information you need. Visit our educational resources here.

How to Choose the Best Gold Broker

When considering a broker for trading or investing in gold, it's important to evaluate their features closely. This will give you the best chance of an uninterrupted trading career because once you start trading, you ideally want to stick with your broker and not go back. Here's a checklist of what to pay attention to:
Regulation and Licensing:
Ensure the broker is regulated by a reputable authority. Gold brokers must be regulated by the same regulators that regulate other financial assets, such as FOREX, crypto, and commodities. If you want to read more about one such top-tier broker, the UK’s Financial Conduct Authority (FCA), check our article here. Other excellent brokers are the Commodity Futures Trading Commission (CFTC) in the US, the Australian Securities and Investments Commission (ASIC) in Australia. Different jurisdictions have varying levels of oversight and protection.
Be sure to check if your gold broker offers investor protection. Some regulatory bodies offer compensation schemes that protect investors' funds in the event of broker insolvency. For instance, the FCA provides the Financial Services Compensation Scheme (FSCS) in the UK. Also be sure to ask the broker whether client funds are kept separate from the broker's operational funds. This offers additional protection for traders like you.

Choose a broker under the watch of a trusted regulatory authority who is renowned for their rigorous oversight. There's no obligation to opt for an overseas regulator; reputable brokers also operate within your own jurisdiction. To confirm if your broker is registered with a regulator, navigate to the regulator’s official website.

Commissions and Fees

Trading fees can be tricky to keep track of, so it's important to compare them with industry standards. Here are some fees of which to be aware:
Spreads: 
There are two main kinds of spread, one is fixed and the other is variable. A first step in gold trading is identifying the spread differential, defined as the difference between the bid (sell) price and the ask (buy) price of gold. Here’s a detailed explainer on spreads.
Commission: 
This is the service charge that brokers require for carrying out transactions on behalf of their clients.
Rollover fees: When you leave a trade open overnight, the broker normally charges a rollover fee for the facility of holding your trade open for that period. This is because they assume the risk of the market changing adversely.

Withdrawal and deposit fees

Some platforms might charge fees for depositing or withdrawing funds. Pay attention to this. It's important to know these and any associated limits or conditions.
Subscription or inactivity fees: 
Certain platforms have monthly charges or fees for inactive accounts. Ensure you're aware of these potential costs.
Spread Commission Swap Islamic Account
Currencies Starting from 0.4 Pips 0$ No Available
Stocks Starting from 0.04 Pips 0$ Yes Unavailable
Commodities Starting from 0.17 Pips 0$ No Available
Indices Starting from 1.30 Pips 0$ No Available
Spread Commission Swap Islamic Account
Currencies Starting from 1.3 Pips 0$ No Available
Stocks Starting from 18 Pips 0$ Yes Unavailable
Commodities Starting from 2.3 Pips 0$ No Available
Indices Starting from 4 Pips 0$ Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.2 Pips 0$ No Available
Stocks Not Mentioned 0$ Yes Unavailable
Commodities Starting from 8 Pips 0$ No Available
Indices Starting from 4 Pips 0$ Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.6 Pips 0$ Yes Unavailable
Stocks Starting from 2.4 Pips 0$ Yes Unavailable
Commodities Starting from 0.1 Pips 0$ Yes Unavailable
Indices Starting from 0.2 Pips 0$ Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.9 Pips $0 Yes Unavailable
Stocks Starting from $0.02 $6 Yes Unavailable
Commodities Starting from $0.6 $6 Yes Unavailable
Indices Starting from $0.7 $6 Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.5 Pips $0 Yes Unavailable
Stocks Starting from $0.2 $10 Yes Unavailable
Commodities Starting from 0.2 Pips $0 Yes Unavailable
Indices Starting from 0.5 Pips $0 Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.4 Pips $0 Yes Unavailable
Stocks Starting from 0.1% $0 Yes Unavailable
Commodities Starting from $0.19 $0 Yes Unavailable
Indices Starting from 0.4 Pips $0 Yes Unavailable

Trading Platform

Evaluate the user-friendliness and reliability of your broker’s trading platform. Be on the lookout for advanced charting tools, technical indicators, and real-time price feeds for gold.
Gold Products Offered:
Look into the variety of gold-related products they offer, such as spot gold, gold futures, gold CFDs, gold ETFs, or gold options.
Order Types:
Ensure the broker offers a variety of order types, such as market, limit, stop, and trailing stop orders, which can help your risk-management efforts.
Liquidity:
Brokers connected to liquid markets will provide more efficient trade execution, reducing the risk of slippage, which is when a deal goes through at a different price than when you placed the trade. This happens in low-liquidity environments.
Education and Research:
A quality broker often provides educational resources, such as webinars, articles and tutorials, to help traders make informed decisions.
Reputation:
Look for online reviews and feedback from other traders or independent websites. This is where you will often get the scoop on whether the broker engages in such fair trade practices as efficient trade execution and no manipulation of market prices.
Demo Account:
A broker offering a demo or practice account allows you to test its platform and your strategies with virtual money before committing real funds.

Tip for those who have no experience
We believe that a solid foundation in education and research is essential for every successful trader. That’s why we’ve created a set of resources specifically for you. Our comprehensive articles provide an understanding of the basics, while our videos offer insights from industry insiders. Stay updated with the latest developments in the market through our newsfeed, signals, and detailed analytics.

Leverage

Different regulators have different guiding policies in leverage. Key regulators have implemented specific rules to limit the leverage offered to retail traders as a means of consumer protection.
Here are the leverage rules for gold CFDs according to some key regulators:
European Securities and Markets Authority (ESMA)
ESMA caps the leverage for gold CFDs at 20:1. This means that traders need to have a minimum of 5% margin of the total trade value.
CFTC
In the United States, CFD trading isn't permitted for retail traders. However, for related products like gold futures, there are specific margin requirements set by exchanges and overseen by the CFTC.
ASIC
ASIC has recently implemented rules capping the leverage for gold CFDs for retail traders at 20:1, aligning with ESMA's restrictions.
FCA
The FCA has adopted rules similar to ESMA, capping leverage for gold CFDs at 20:1 for retail traders.
As we can see, responsible regulators closely monitor leverage levels. Leverage is a double-edged sword because you can make a lot of money, but you can just as easily become financially ruined!
Similarly with stopouts, many major regulators offer negative balance protection. This is important as your open positions are automatically closed by the broker due to insufficient margin in the account. This mechanism protects you from accruing negative balances and owing money to the broker.

Stop Outs

In the world of trading, "stop out" is a term with which you should be familiar. It's the point where your broker automatically closes some or all of your active positions to prevent your account from diving into negative territory. The stop-out level is usually defined as a percentage, representing the margin level at which your broker starts shutting down your open trades.
Let's break down the percentages:
Stop out of 0%: 
Your broker won't close any of your positions, even if your margin level reaches rock bottom. This is because some brokers allow you to end up in the red, which means you might owe them money if your trades keep losing.
Stop out of 50%: 
Once your equity dwindles to half of your used margin, the stop-out alarm goes off. Your broker steps in and starts closing your trades, beginning with those least profitable. This continues until your margin level bounces back above the stop-out level.
Stop out of 100%: 
When your margin level hits 100%, your broker takes the drastic step of automatically closing all your open positions. In some setups where the broker separates margin-call and stop-out levels, the margin call happens at 100% and the stop-out at 50%. If your margin level plunges to 50%, your trading platform springs into action with a stop-out, closing your trade at the market price.
Keep in mind that the specific percentage and the order in which positions get closed can vary from broker to broker. So, it's crucial for traders to know their broker's stop-out policy. It's worth noting that while stop-out measures are designed to shield traders from going into the red, they can also result in substantial losses, especially in volatile markets where positions are swiftly closed automatically, especially if the market suddenly reverses post-stop out. That's why you should always employ protective strategies like setting stop-loss orders and avoiding excessive leverage.

Tradable Assets and Instruments

Retail trading offers a diverse range of financial instruments, each with its own set of opportunities and challenges. We understand you are interested in gold trading, but here are some other common tradable assets and instruments:
FOREX
With the largest trading volume globally, the FOREX market allows traders to speculate on the future movements of currency prices, trading pairs like EUR/USD, GBP/JPY, and many more.
Commodities
Whether it's precious metals like gold and silver, or energy commodities like oil and natural gas, commodities trading offers a chance to profit from the tangible assets that drive global economies.
Equities or Stocks
These represent ownership in a company and constitute one of the most popular avenues for retail traders, given their potential for substantial returns and the thrill of being a part of the corporate world.
Indices
These are baskets of stocks representing a particular market or sector, like the S&P 500 or the Nasdaq, giving traders exposure to broader market movements.
Cryptocurrencies
Digital coins like Bitcoin, Ethereum, and countless altcoins offer both high rewards and volatility.
Brokers Currency pairs Stocks Indices Commodities Crypto ETFs
FXDD 67 Pairs 1100 Shares 45 Indices 10 Commodity 30 Coins 1200 ETFs
ICM Capital 67 Pairs 89 Shares 17 Indices 12 Commodity 6 Coins Unavailable
XTB 57 Pairs 1848 Shares 36 Indices 22 Commodity 22 Coins 135 ETFs
IG 108 Pairs 20000 Shares 200 Indices 20 Commodity 5 Coins 200 ETFs
Saxo Bank 320 Pairs 22000 Shares 200 Indices 200 Commodity 9 Coins 6700 ETFs
CMC Markets 330 Pairs 8000 Shares 80 Indices 100 Commodity 18 Coins 200 ETFs
Think Markets 46 Pairs 3750 Shares 15 Indices 11 Commodity 21 Coins 350 ETFs

Customer Service

As timing is key to gold trading, you must pick a brokerage firm that can provide good customer support around the clock. This most notably includes the company representatives being easy to reach, fast, and polite, which in turn will spare you from having to worry about problems later. The best gold brokers will be able to provide you with the following:
Email Live Chat Phone WhatsApp
Available Available Available Available Available
Quick response Very Fast Very Fast Very Fast Moderate
Email Live Chat Phone WhatsApp
Available Available Available Available Available
Quick response Very Fast Very Fast Very Fast Very Fast
Email Live Chat Phone WhatsApp
Available Available Available Available Not Available
Quick response Very Fast Moderate Moderate Not Available
Email Live Chat Phone WhatsApp
Available Available Available Available Not Available
Quick response Very Fast Very Fast Moderate Not Available
Email Live Chat Phone WhatsApp
Available Available Not Available Available Not Available
Quick response Slow Not Available Moderate Not Available
Email Live Chat Phone WhatsApp
Available Available Not Available Available Not Available
Quick response Moderate Not Available Moderate Not Available
Email Live Chat Phone WhatsApp
Available Available Available Available Not Available
Quick response Moderate Fast Moderate Not Available

Withdrawals and Deposits 

Ideally, the payment deposit and withdrawal process among the best gold brokers should be straightforward and convenient. If you have chosen a broker from a developed nation with an advanced banking system, making transactions, including withdrawals from brokerage accounts, is relatively straightforward. The best brokerages offer multiple withdrawal methods, including bank wire transfers, credit/debit card transactions, and even online payment systems. The efficiency of these methods can vary, with wire transfers, for example, typically taking several business days, whereas online payments tend to be much quicker.
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee $0 $0 + Bank commission 0$ 0$ 0$ Unavailable
Withdrawal fee $30 $30 $30 $30 $30 Unavailable
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission 1.9% 2.5% Unavailable 3.75%
Withdrawal fee 0$ $15 1% $0 Unavailable 2%
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission 1% 1% Unavailable Unavailable
Withdrawal fee 1.5% 30$ 1% 1% Unavailable Unavailable
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable 3.4% + fixed fee
Withdrawal fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable 3.4% + fixed fee
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable Unavailable
Withdrawal fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable Unavailable
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable Unavailable
Withdrawal fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable Unavailable
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission 0$ 2.5% Not mentioned Unavailable
Withdrawal fee 0$ $0 + Bank commission 5.50$ 0-7.5% Not mentioned Unavailable

What Can Affect the Gold Price?

The price of gold is influenced by many factors. Here are some of the primary elements that can affect the price of gold:

Supply and Demand: 

Like any other commodity, the fundamental economic principle of supply and demand affects the price of gold. Parties that could drive demand include 

Geopolitical Events: 

Wars, political unrest, and other geopolitical events can lead to increased gold demand as a "safe haven" asset. When the world feels uncertain, gold is often a refuge for investors.

Strength of the US Dollar: 

Gold is often priced in U.S. dollars. A strong dollar can make gold more expensive for foreign buyers, potentially decreasing demand and thus reducing its price. The strong US dollar at the beginning of 2023 pushed gold prices upward.
Global Crisis: During financial crises, many investors flock to gold as a safe asset, driving its price upward.
Natural Disasters or Pandemics: Events that disrupt global economies, like natural disasters or pandemics, can indirectly affect gold prices through shifts in risk sentiment or disruptions in mining activities.
Gold Production: Discoveries of new gold deposits or advancements in extraction technology can influence supply and, consequently, gold prices.

What Is the Relationship Between Gold and Major Currencies?

Gold has complicated relationships with various currencies, and its dynamics with the U.S. Dollar (USD), Australian Dollar (AUD), and New Zealand Dollar (NZD) are particularly interesting. Let’s tell you why:

Gold and the USD:

Historically, gold and the USD often have an inverse relationship. When the USD strengthens, gold prices in dollar terms often decrease, and vice versa. This happens because a stronger dollar makes gold more expensive for holders of other currencies, thus reducing demand and driving prices of gold down. This phenomenon was evident in early 2023 when the dollar was historically strong.

Gold and the AUD:

Australia is one of the world's largest gold producers. A rise in gold prices can positively impact the Australian mining sector and the broader economy. This dynamic can support the AUD, especially if gold's rise is significant. This is what makes the AUD often seen as a "commodity currency." Movements in commodity prices, including gold, can influence the AUD's value. Normally, when gold prices rise, the AUD might appreciate against other currencies, especially if other major commodities that Australia exports also see price increases.

Gold and the NZD:

New Zealand is a much smaller gold producer than Australia. Therefore, the direct relationship between gold prices and the NZD isn't that big of a deal. However, the NZD can be influenced by gold price movements due to regional economic factors and its close ties with Australia. When Australia’s economy is strong, New Zealand’s tends to be strong, too, because of the pair’s close trading relationship.
We should mention that these relationships offer an explanation for potential correlations, they are not rigid. Many global economic factors can influence these dynamics, and the correlations might change over time and not be as strong as they once were.

The Risks of Trading Gold

Here are some of the primary risks associated with gold trading:

Price Volatility: 

Gold prices can be highly volatile, especially driven by short-term geo-political issues. High volatility is a good environment in which to trade because you can make profits, but if you make the wrong calls, you can lose money.

Liquidity Risk: 

The gold market is generally liquid, but it is nowhere as liquid as, for example, the gold market, so it can sometimes be challenging to enter or exit positions at desired levels.

Leverage Risk:

If you use high leverage when trading gold derivatives, like futures or CFDs, you could make the wrong trading call and lose heavily.

Currency Risk: 

Gold is often priced in U.S. dollars. Traders from other countries are, therefore, exposed to currency exchange risks. Fluctuations in the USD or their local currency can impact their returns. Developing countries with minor or exotic currencies are often exposed to this risk.

What to Avoid when Choosing a Gold Trading Broker?

Choosing a gold trading broker is a crucial decision for traders and investors. Making an informed choice is essential to ensure a safe and efficient trading experience. Here are some things to avoid when selecting a gold trading broker:
A word on proprietary platforms. While some proprietary trading platforms are excellent, being restricted to only one (especially if it's not well-reviewed) can be limiting. Many traders prefer brokers that offer popular platforms, like MetaTrader 4 or 5.
The key is to do thorough research. Check reviews, compare fee structures, and even test the broker's platform with a demo account before committing real funds.
Tips to Get Started Trading With a Gold Broker
Trading gold can be both exciting and rewarding, but you must approach it with knowledge and caution. Here are some tips to help you get started with a gold broker:
Remember, while trading gold can offer lucrative opportunities, it also comes with significant risks. Approach it with diligence, preparedness and a commitment to continuous learning.

Tip: Invest in Your knowledge
For every aspiring retail trader, knowledge is key to a successful trading journey. We invite you to delve into Arincen's goldmine of insights, strategies, and expert analyses. Whether you're just embarking on your trading venture or trying to level up your trading game, our resources are designed to give you all the information you need. Visit our educational resources here.

Which Gold Broker Has the Best Platform?

Many gold traders around the world have become used to MetaTrader’s strong and dependable MT4 platform, which is well-liked with good cause. To learn more about this important platform, visit our explainer article. However, if you are interested in trying something new that pushes the boundaries of what we accept as possible with a trading platform, you may consider a proprietary platform. In this case, we would encourage you to try Saxo Bank for its advanced trading features and high-performance tools with extensive market analysis.

Which Gold Broker Charges the Lowest Fees?

Our research shows that FXDD’s ECN account offers the lowest fees for entry-level and elite traders alike.

Which is the Best Gold Broker for the Most CFDs?

For brokers that deal in the most CFDs, look no further than CMC Markets and IG, both of which offer extensive CFD selections.

Which Gold Broker Offers the Most Assets?

According to Arincen’s research, the gold brokers that offer the widest and most comprehensive range of financial assets are CMC Markets and IG.

Which is the Best Gold Broker for Professionals?

Professional traders are mostly clear about their requirements. They normally won’t settle for a sub-standard platform or experience. Professional traders are also searching for a platform that features in-depth market analysis that comes with advanced indicators that help them make better decisions. In this case, you should look to brokers that use MT4, an industry stalwart that offers all of the above.

How to Avoid Gold CFD Brokers Scams

It’s a sad reality that scams exist in the trading world. Here are just some examples of how you could get caught:
Ultimately, all this goes away if you’ve chosen a well-regulated broker. This is because it is the job of regulators to stringently vet the best gold brokers to ensure their operations are legit. A good regulator should be doing the following to protect gold traders:
Public Warnings: If a regulator finds out about entities operating without the necessary licenses, it issues public warnings. The regulator should maintain a warning list on its Website, alerting the public about brokers that might be conducting unauthorized activities.
Consumer Education: While it may not be a direct service, the presence of a robust regulatory body indirectly educates and informs consumers about the standards they should expect from financial entities. Knowing that a financial institution is well-regulated can offer consumers a level of confidence.
Investigations and Enforcement: If there's any suspicion or indication of a scam or fraudulent activities, a regulator can launch investigations. If a gold broker is found to be in violation, the regulator should typically have the authority to enforce punishment, which can include penalties or revoking licenses.

Trading with an unregulated broker can have dire consequences. Regulated brokers must comply with strict rules to protect your interests. Unregulated brokers may engage in fraudulent activities, such as misappropriating client funds, and may not have adequate measures in place to protect your data. For a list of the best regulators, read our article here.

Who Is Arincen and What Do We Do?

Put simply, Arincen is a social networking platform that brings together traders and experts to exchange expertise and ideas. Together, we evaluate the best gold companies in the world while offering a comprehensive suite of services and tools, all in one place, either via a computer or a mobile app. The platform is so rich, that you can create your own private portfolio of traders and experts you like and, at the same time, follow their recommendations and investment sentiments.           
Further, thanks to Arincen, users can keep an eye on market-price developments, as well as the latest news. Users can also benefit from the network’s educational courses on offer, to say nothing of exciting webinars – all done in a modern and fast-paced work environment. Get all that you need in one place. Our motto: We Meet to Simplify the Trading World.

Ask Other Traders on Our Network

Arincen has gone to extensive lengths to create an enabling environment of networks, where traders of all backgrounds can take part in a vibrant trading space. After all, Arincen’s goal is to simplify the world of trading. Our website provides an unrivalled slate of tools, like our market-leading signals, rolling news, and a thriving community where traders of all levels of experience can learn and profit from each other.

The Bottom Line

In the world of gold trading, retail traders must navigate a landscape filled with opportunities and pitfalls. As we have shown, gold offers a time-tested store of value but also presents its own set of challenges. Understanding the risks and knowing where to trade gold online are paramount.
Always remember to be wary of the red flags when you are on the hunt for the best gold-trading platform and continuously boost your knowledge about what makes a good XAU/USD broker. As you embark on this journey, retain a growth mindset. Your informed decisions today can pave the way for a successful and rewarding trading experience tomorrow.

Arincen’s Review Methodology

The team at Arincen collected more than 120 pieces of data covering in excess of 100 licensed gold brokers. Data collection was done in three ways:
  1. Companies’ websites.
  2. Other websites that have ranked gold companies.
  3. A survey questionnaire (referred to here as Survey “1”) was sent to the companies invited to participate in the exercise. We have identified 13 criteria for our assessment, each containing several aspects and carrying its own relative weight. These include licensing, deposits and withdrawals, number of assets, etc.      
Afterward, we validated the data by:
  1. Registering with gold companies as a secret shopper and/or as Arincen.
  2. Survey number “2,” in which we asked these companies’ customers for important feedback and past experience.
The next step saw us evaluate and rank each company, relying on the hard work of 15 Arincen employees. We were cautious in ensuring the most accurate assessment possible, including taking into account different languages, as well as the various mobile-app operating systems, e.g., Apple, Samsung, etc.
To add credibility to our research project, we sent a third and final survey (referred to here as Survey “3”) to enable participating gold companies to evaluate our own research and whether it accurately reflects the realities on the ground. We were fortunate enough to receive a mark of 9.9 out of 10! We have kept to a minimum the margin of error, which stood at a measly 1%. To learn more about how we came up with the evaluation, please click here.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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.

FAQ

Why is gold considered a safe-haven asset?

This is because its value tends to remain stable or even increase during economic downturns, geopolitical tensions, or periods of market volatility.

How can I start trading gold?

You must research and select a reputable broker or trading platform that offers gold as a trading option.

What's the difference between physical gold trading and gold CFD trading?

Physical gold trading involves buying or selling actual gold bars, coins, or jewelry. Gold CFD trading involves speculating on the price movements of gold without owning the physical asset.

How does the U.S. dollar influence gold prices?

The U.S. dollar and gold typically have an inverse relationship. When the U.S. dollar strengthens against other currencies, gold prices tend to decrease as gold becomes more expensive for foreign buyers. Conversely, a weaker U.S. dollar makes gold cheaper for foreign investors, which can lead to higher demand and rising gold prices.

Can I trade gold 24/7?

While the physical gold market might not be open 24/7, the online spot gold market operates nearly around the clock. Trading begins on Sunday evening and closes on Friday evening (U.S. time), with minor breaks in between the daily sessions. However, it's essential to be aware of the most active trading hours, which often coincide with major global financial markets' operating hours.

What factors affect gold prices?

Several factors can influence gold prices, including geopolitical events, interest rates, inflation rates, central bank actions, global economic conditions, and supply-demand dynamics.

Are gold ETFs a good way to gain exposure to gold?

Gold ETFs are one way to invest in gold without owning the physical asset. They track the price of gold and can be traded like stocks on an exchange. For investors who want exposure to gold's price movements without the challenges of storing and insuring physical gold, gold ETFs can be a good option.

What is the best broker for trading gold?

We’ll give you more than one. You can try any of these excellent gold brokers. FXDD, ICM Capital, XTB, IG, Saxo Bank, CMC Markets, and ThinkMarkets.

Who is the most reputable gold dealer?

FXDD gets our vote as the best overall broker, and therefore, the most reputable gold dealer.

What is the best way to buy real gold?

When you buy physical gold from a gold broker or dealer, you own a tangible asset. Selling on your physical gold might require verification of its authenticity and quality, so it’s not an instant sell. Generally, when you buy physical gold, you pay the full price upfront. Be aware that there could be premiums and transportation costs when buying physical gold.

What is the most profitable way to buy gold?

For the average trader, CFDs offer the best combination of convenience and profitability, You can quickly enter or exit positions, often within seconds. You can perform leveraged trading on the gold market. CFDs typically involve paying a spread. Depending on the broker, there might also be overnight financing fees or rollover costs. While both physical gold trading and CFD gold trading provide ways to engage with the gold market, they cater to different needs and risk profiles. CFD trading can be both profitable and convenient.
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Adrian Ashley
Adrian Ashley is a seasoned business and finance writer. With a corporate career spanning over 20years, he has developed deep experience in such diverse areas as investing, business, finance,technology and macroeconomics. He is passionate about captu...
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Richard Sine
Richard Sine is a long-time technical editor and writer. His credits include a weekly column in the...
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Bahaa Khateeb
 Bahaa Khateeb is currently the CEO of Arincen, a start-up Fintech company based in Haifa. Baha...
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