| Broker | Features | More Details |
|---|---|---|
  FeaturedGo to XTB | Excellent 24-hour customer service. More than 3000 instruments to trade. Free webinars.(*) Warning: Your capital is at risk. 77% of retail CFD accounts lose money. Demo Account: Yes Minimum Deposit: 0 €/$ Trading Platforms: xStation5, iOS App, Android App. Execution: Market Maker / STP Regulation:  FCA, CNMV and IFSCWeb Page: https:/www.xtb.com | Broker: XTB Headquarters: London, United Kingdom Broker Type: Forex and CFDs Broker Trading Instruments: More than 3000 instruments such as CFDs on Forex, crypto-currencies, commodities, indices and stocks. In Europe spot stocks and ETFs. Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Paypal, Skrill (MoneyBookers), Neteller |
 FeaturedGo to Pepperstone | Spreads from 0 pips. Ultra fast execution (less than 30 milliseconds). Perfect for scalping and automatic trading. Demo Account: Yes Minimum Deposit: 100 €/$ Trading Platforms: MetaTrader 4, MetaTrader 5, cTrader. Execution: STP / ECN Regulation: FCA, ASIC, CySEC, DFSA, CMA and SCBWeb Page: https://www.pepperstone.com | Broker: Pepperstone Headquarters: London, United Kingdom Broker Type: Forex and CFDs Broker Trading Instruments: Wide range of Forex currencies with more than 180 pairs, crypto currencies, commodities, gold, silver, oil, a selection of American stocks, indices,... Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Neteller |
 FeaturedGo to eToro | World leader in social trading. You can copy the best investors automatically.(*) Warning: 67% of retail CFD accounts lose money. Demo Account: Yes, unlimited Minimum Deposit: 200 $ Trading Platforms: WebTrader, iOS App, Android App. Execution: Market Maker Regulation: FCA, CySEC and ASICWeb Page: https://www.etoro.com | Broker: eToro Headquarters: Limassol, Cyprus Broker Type: Forex Broker, CFDs Broker and Social Trading Trading Instruments: Wide range of crypto currencies (more than 90 available), ETFs, shares of companies from different sectors and countries, raw materials (such as Gold, Silver, Oil), main stock exchange indexes (Spain, United States, Germany, France, United Kingdom, Switzerland,...) and more than 45 currency pairs in the Forex market. Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Paypal, Neteller, Klarna |
 Go to XM Group | Bonus of $30 without deposit and bonuses of up to $5,000 per deposit.(*) Clients registered with XM Group's EU-regulated entity do not have access to the bonds. Demo Account: Yes, unlimited Minimum Deposit: 5 $ Trading Platforms: MetaTrader 4, MetaTrader 5. Execution: Market Maker Regulation: CySEC, IFSC and ASICWeb Page: https://www.xm.com | Broker: XM Headquarters: Limassol (Cyprus), Sydney (Australia) and Belize. Broker Type: Forex and CFDs Broker Trading Instruments: Over 1000 financial instruments such as major currency pairs in the Forex market (over 55 pairs available) and CFDs on a wide range of stocks, commodities, indices, precious metals and energies such as oil (Brent and WTI). Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Neteller |
 Go to Plus500 | More than 2,000 CFD instruments to trade.(*) Warning: 72% of retail CFD accounts lose money. Demo Account: Yes, unlimited Minimum Deposit: 100 €/$ Trading Platforms: WebTrader, iOS App, Android App. Execution: Market Maker Regulation: FCA, CySEC, ASIC, FSCA and FSAWeb Page: https://www.plus500.com | Broker: Plus500 Headquarters: Israel Broker Type: CFDs Broker Trading Instruments: More than 2,000 instruments: CFDs on shares (wide catalogue of shares from the USA, Spain, Germany, the United Kingdom, France,...), stock market indices, currencies (more than 60 currency pairs on the Forex market), commodities (gold, silver, oil,...), the most popular cryptocurrencies, options and listed investment funds (ETFs). Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Paypal |
 Go to AvaTrade | 5 international regulations. 4 trading platforms to choose. Demo Account: Yes Minimum Deposit: 100 €/$ Trading Platforms: WebTrader, MetaTrader 4, MetaTrader 5, iOS App, Android App. Execution: Market Maker Regulation: Central Bank of Ireland, ASIC, BVI, FSCA and FSAWeb Page: www.avatrade.com | Broker: AvaTrade Headquarters: Dublin, Ireland Broker Type: Forex and CFDs Broker Trading Instruments: Forex market with more than 50 currency pairs Crypto-currencies such as Bitcoin, Ethereum,... CFDs on indices from more than 20 countries. Commodities. More than 100 popular shares of companies listed on the NYSE, NASDAQ, DAX, IBEX and many more. ETFs. Government bonds from the US, Japan and European countries. Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Neteller, Klarna |
 Go to IC Markets | Spreads from 0 pips. Real interbank liquidity (up to 50 sources). Perfect for high volumes, scalping and robots. Demo Account: Yes, unlimited Minimum Deposit: 200 $ Trading Platforms: MetaTrader 4, MetaTrader 5, cTrader. Execution: ECN Regulation: ASIC, CySEC and FSAWeb Page: https://www.icmarkets.com | Broker: IC Markets Headquarters: Australia Broker Type: Forex and CFDs Broker Trading Instruments: 60 Forex currency pairs. Crypto-currencies. CFDs on 17 stock indices, commodities and shares. Futures. Bonds issued by governments around the world. Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Neteller, Paypal, Klarna, Bitcoin |
 Go to RoboForex | Demo Account: Yes, unlimited Minimum Deposit: 0 €/$ Trading Platforms: WebTrader, MetaTrader 4, MetaTrader 5, cTrader, iOS App, Android App. Execution: STP / ECN Regulation: IFSCWeb Page: https://www.roboforex.com | Broker: RoboForex Headquarters: Belize Broker Type: Forex Broker Trading Instruments: 36 Forex currency pairs, crypto-currencies, CFDs on US stocks, indices, metals, oil. Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Neteller, WebMoney, Perfect Money, Bitcoin, Ethereum |
 Go to FP Markets | Demo Account: Yes Minimum Deposit: 100 €/$ Trading Platforms: MetaTrader 4, MetaTrader 5, IRESS. Execution: ECN Regulation: ASIC and CySECWeb Page: https://www.fpmarkets.com | Broker: FP Markets Headquarters: Sidney, Australia Broker Type: Forex and CFDs Broker Trading Instruments: Over 50 most popular Forex currency pairs and CFD on shares, stock indices, metals, commodities, energies and crypto-currencies. Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Paypal, Skrill (MoneyBookers), Neteller, FasaPay |
 Go to OANDA | Demo Account: Yes, unlimited Minimum Deposit: 0 $ Trading Platforms: MetaTrader 4. Execution: Market Maker Regulation: FSCWeb Page: https://www.oanda.com | Broker: OANDA Headquarters: Toronto, Canada Broker Type: Forex and CFDs Broker Trading Instruments: More than 120 instruments: Major Forex currency pairs, indices, gold, silver and commodities. Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Neteller |
 Go to Libertex | (*) Warning: 83% of retail CFD accounts lose money. Demo Account: Yes, unlimited Minimum Deposit: 100 €/$ Trading Platforms: MetaTrader 4, WebTrader, iOS App, Android App. Execution: Market Maker Regulation: CySECWeb Page: https://www.libertex.com | Broker: Libertex Headquarters: Limassol, Cyprus Broker Type: Forex and CFDs Broker Trading Instruments: More than 50 currency pairs in the Forex market, main world stock exchange indexes (from the United States, Europe, Asia, the Middle East and Latin America), more than 100 shares of large companies worldwide and other instruments such as crypto currencies, oil, gas, gold, silver, copper, platinum, agricultural commodities,... Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Neteller |
 Go to Axi | Demo Account: Yes Minimum Deposit: 0 €/$ Trading Platforms: MetaTrader 4. Execution: Market Maker Regulation: FCA, ASIC, FSA and DFSAWeb Page: https://www.axi.com | Broker: Axi Headquarters: Sydney, Australia Broker Type: Forex and CFDs Broker Trading Instruments: More than 140 instruments: Forex currency pairs, crypto currencies, CFDs on commodities, gold and silver, oil, indices,... Payment Methods for Deposits and Withdrawals: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), Neteller |
 Go to OctaFX | Demo Account: Yes, unlimited Minimum Deposit: 5 €/$ Trading Platforms: MetaTrader 4, MetaTrader 5, cTrader. Execution: STP / ECN Regulation: FSAWeb Page: https://www.octafx.com | Broker: OctaFX Headquarters: Saint Vincent and the Grenadines Broker Type: Forex Broker Trading Instruments: 28 Forex currency pairs, crypto currencies, gold and silver, CFDs on stock indices and shares. Payment Methods for Deposits and Withdrawals: Perfect Money, Bitcoin |
What are the best brokers for investing in oil?
Oil is one of the most traded commodities in the world. Many traders choose to invest in oil due to the high volatility of its price, which translates into short-term price movement and ultimately trading opportunities.
Crude oil, also called “black gold”, is a fossil fuel, which provides the basis for a type of non-renewable energy. Today it is the main source of energy for economies across the globe. There are a number of crude oil producing and exporting countries, as well as crude oil consuming and importing countries.
The price of oil has a direct impact on the economy of each country and is therefore highly affected by political factors and international events, which cause high volatility and changes in trends. There are countries that are highly dependent on oil and it is their main source of energy. It is therefore a highly demanded commodity. It attracts a large number of investors, making it a highly liquid market.
There are two types of oil, which are currently the most traded: Brent oil and WTI (West Texas Intermediate) oil. Brent oil is the most traded, acts as a reference in the European markets and is mainly extracted in the North Sea, being transported by sea. Meanwhile, WTI oil (West Texas Intermediate) is the second most traded oil and is transported by pipeline in the United States.
Most online Forex, CFD and ETF brokers offer among their investment instruments the possibility to invest in these two types of oil (you can find them within the asset categories: commodities, raw materials or energies; depending on each broker). When trading oil through these brokers, you get two fundamental factors that will allow you to make profits: leverage and the possibility to trade long or short. In other words, you can open a long position if you think the price of oil is going to go up, or open a short position if you think it is going to go down. As it is a very liquid market, it produces sustained trends and clear technical patterns. It is, however, a market that tends to move wildly.
Oil trading is a very popular practice around the world in countries such as Australia, South Africa, United Kingdom, Malaysia, Indonesia, India, Singapore, Lebanon, United Arab Emirates, China, Kuwait, Thailand, Qatar, Vietnam, Nigeria, Philippines, Saudi Arabia, Japan, Taiwan, Kenya, New Zealand,…
Oil is also strongly correlated with the prices of some currencies, it is also in direct relation to the shares of oil companies. This product is an indicator of the economy, its movements affect a large number of assets and economic decisions are made based on its price, therefore, it is a good instrument to monitor and keep in mind in our operations. It is possible to analyse it from both a fundamental and technical perspective. Therefore, many traders of Forex or other instruments can take advantage of their knowledge and strategies to profit from this instrument or use it for a hedging strategy or to diversify the risk and assets in their portfolios.
Having tested and analysed numerous of the best brokers for online trading, the ones you can see in the table above are what we consider to be the best brokers for oil trading.
References and sources:
- How to Trade Oil: Crude Oil Trading Strategies & Tips
- How Oil Moves with USD/CAD
- How Oil Prices Impact the U.S. Economy
- Bring on Higher Oil Prices: They’ll Boost the US Economy. Powell Sees it Too. A New Experience for the US
- Friday Effect and Oil Trading
