Brokers to Invest in Oil

Eduardo Montero
Broker Features

XTB Broker
Featured

Go to XTB

Excellent 24-hour customer service. More than 3000 instruments to trade. Regulated broker.

(*) Warning: Your capital is at risk. 80% of retail CFD accounts lose money.

With XTB you can invest in Brent and WTI oil with low spreads. Also in natural gas and more than 20 different commodities.

Demo Account: Yes
Minimum Deposit: 0 €/$
Trading Platforms: xStation5, iOS App, Android App.
Execution: Market Maker / STP
Regulation: FCA, CNMV and IFSC
Web Page: https:/www.xtb.com

Pepperstone
Featured

Go to Pepperstone

Very low spreads on over 1,200 instruments. 24/7 support, fast execution and no requotes.

(*) Warning: Between 74-89 % of retail investor accounts lose money when trading CFDs.

Pepperstone allows you to trade West Texas Intermediate and Brent crude oil, natural gas as well as precious metals, commodities,...

Demo Account: Yes
Minimum Deposit: 200 €/$
Trading Platforms: MetaTrader 4, MetaTrader 5, cTrader, TradingView.
Execution: STP / NDD
Regulation: FCA, ASIC, CySEC, BaFin, DFSA, CMA and SCB
Web Page: https://www.pepperstone.com

eToro
Featured

Go to eToro

Buy stocks without commission. Automatically copy the best investors with the eToro CopyTrader tool.

(*) Warning: 78% of retail CFD accounts lose money.

With eToro you can trade oil manually or automatically copy the best strategies of other traders.

Demo Account: Yes, unlimited
Minimum Deposit: 200 $
Trading Platforms: WebTrader, iOS App, Android App.
Execution: Market Maker
Regulation: FCA, CySEC and ASIC
Web Page: https://www.etoro.com

XM Broker

Go to XM Group

Bonus of $30 without deposit and bonuses of up to $5,000 per deposit. Trade Forex with ultra-low spreads.

(*) Clients registered with XM Group's EU-regulated entity do not have access to the bonds.

With XM broker you can trade WTI and Brent crude oil, natural gas and various agricultural commodities, gold, silver,...

Demo Account: Yes, unlimited
Minimum Deposit: 5 $
Trading Platforms: MetaTrader 4, MetaTrader 5.
Execution: Market Maker
Regulation: CySEC, FSC and ASIC
Web Page: https://www.xm.com

ICMarkets

Go to IC Markets

True ECN account with ultra-low spreads and ultra-fast execution designed for scalping and automated trading systems.

With IC Markets you can invest in WTI or Brent crude oil in spot or futures. You can also invest in natural gas and other financial instruments.

Demo Account: Yes
Minimum Deposit: 200 $
Trading Platforms: MetaTrader 4, MetaTrader 5, cTrader.
Execution: ECN
Regulation: ASIC, CySEC and FSA
Web Page: https://www.icmarkets.com

AvaTrade

Go to AvaTrade

One of the most regulated brokers worldwide (in 9 different jurisdictions).

With AvaTrade you can buy or sell crude oil (WTI) and Brent via CFDs and more than 20 other commodities.

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 FSA
Web Page: www.avatrade.com

CFD Service

Plus500

Go to Plus500

Broker with more than 23 million registered customers since its inception and a Trust Pilot Score of 4.2 out of 5.

(*) Warning: 86% of retail CFD accounts lose money.

Plus500 allows you to trade oil through its CFD platform. You can also trade heating oil, gasoline and natural gas among other financial instruments.

Demo Account: Yes, unlimited
Minimum Deposit: 100 €/$
Trading Platforms: WebTrader, iOS App, Android App.
Execution: Market Maker
Regulation: FCA, CySEC, ASIC, FSCA, DFSA and FSA
Web Page: https://www.plus500.com

IQ Option

Go to IQ Option

$1 minimum investment. Powerful and intuitive trading platform. Fast withdrawals.

(*) Warning: Your capital might be at risk.

With IQ Option you can trade West Texas Intermediate oil, Brent oil and other commodities.

Demo Account: Yes, unlimited
Minimum Deposit: 50 €/$
Trading Platforms: Proprietary Platform, iOS App, Android App.
Execution: Market Maker
Regulation: CySEC
Web Page: https://www.iqoption.com

EXNESS

Go to Exness

Low spreads as low as 0.0 pips. No swaps on most instruments. Instant withdrawals.

Exness allows you to trade crude oil (Brent and WTI) as well as other commodities and precious metals,...

Demo Account: Yes
Minimum Deposit: 10 $
Trading Platforms: MetaTrader 4, MetaTrader 5.
Execution: Market Maker / ECN
Regulation: FCA, CySEC, FSCA, FSC, CBCS, FSA and SDL
Web Page: https://www.exness.com

Eightcap

Go to Eightcap

With Eightcap you can trade West Texas Intermediate crude oil and Brent crude oil.

Demo Account: Yes
Minimum Deposit: 100 $
Trading Platforms: MetaTrader 4, MetaTrader 5, TradingView.
Execution: STP / ECN
Regulation: ASIC and SCB
Web Page: https://www.eightcap.com

Axi Broker

Go to Axi

The Axi broker allows trading in Brent (European benchmark) and WTI (US benchmark) oil as well as other popular commodities.

Demo Account: Yes
Minimum Deposit: 0 €/$
Trading Platforms: MetaTrader 4.
Execution: STP / ECN
Regulation: FCA, ASIC, FSA and DFSA
Web Page: https://www.axi.com

RoboForex

Go to RoboForex

$30 welcome bonus with a minimum deposit of $10 and bonuses up to $50,000 per deposit.

RoboForex allows its clients to trade Brent or WTI oil. Also in natural gas or ethanol among others.

Demo Account: Yes, unlimited
Minimum Deposit: 0 €/$
Trading Platforms: WebTrader, MetaTrader 4, MetaTrader 5, cTrader, iOS App, Android App.
Execution: STP / ECN
Regulation: IFSC
Web Page: https://www.roboforex.com

FP Markets

Go to FP Markets

With FP Markets you can trade WTI (West Texas Intermediate) crude oil and Brent crude oil. Also natural gas, precious metals,...

Demo Account: Yes
Minimum Deposit: 100 €/$
Trading Platforms: MetaTrader 4, MetaTrader 5, IRESS.
Execution: ECN
Regulation: ASIC, CySEC and FSP
Web Page: https://www.fpmarkets.com

OANDA

Go to OANDA

Deposit bonus up to $5,000.

Oanda allows online trading in West Texas Intermediate and Brent crude oil and other popular commodities.

Demo Account: Yes, unlimited
Minimum Deposit: 0 $
Trading Platforms: MetaTrader 4, MetaTrader 5.
Execution: Market Maker
Regulation: FCA, ASIC, NFA, IIROC, MFSA, BVI FSC
Web Page: https://www.oanda.com

 

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.

Best brokers for trading with oil

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, Brazil, 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 comparison table above are what we consider to be the best brokers for oil trading.

References and sources:

This post is also available in Spanish: brokers para invertir en petroleo, Italian, Italy: broker per investire in petrolio, German: broker fuer investitionen oel