Yes, you can trade commodities with eToro as a CFD or by buying a commodity-based ETF like GLD if you want to invest in gold. eToro is a long way from being the best commodities broker as they only offer a limited range of the most popular commodities like oil (15) compared to CMC Markets (100+) and they do not offer on-exchange futures contracts like Interactive Brokers or Saxo Markets. However, if you are happy to only trade in USD and commodities trading forms only a small part of your portfolio or universe eToro is suitable for most beginner commodity speculators.
eToro Commodity Trading Review
Name: eToro Commodity Trading
Description: At eToro, trading commodities is straightforward. eToro’s platform is easy to use and enables traders and investors to trade a wide range of commodities. You also get the benefit of being able to set your own leverage when trading commodity CFDs, so you can reduce your risk by increasing your margin rates.
77% of retail investor accounts lose money when trading CFDs with this provider.
- Commodities markets available: 15
- Minimum deposit: $50
- Account types: CFDs & investing in USD
- Pricing: Gold 0.9, Oil 1.4
- Social and copy commodities trading
- Set you own commodities leverage
- Easy to use
- Accounts must be in USD
- High FX conversion charges
- No commodities spread betting or DMA trading
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