Cheap prices are not guaranteedGoldThe quality of the trading broker, so what other factors should be considered？

Gold is the oldest currency in the world and is still highly traded today.。Precious metals are always considered reliable by traders and are often seen as a safe haven for traders。Even in times of uncertainty, due to the unique position of the gold market in the world political and economic system, it always provides excellent opportunities for profit。

There are many ways to make a profit in gold trading, having a well-prepared trading strategy and choosing the right broker can determine the success of your online gold trading。

important factors

In order to choose the best gold trading broker, you need to consider several considerations。You can compare the strengths and weaknesses of each broker from pricing, commissions to how customer service works。Read further to learn more。

1.监管

The most critical part to consider when choosing any broker is the security of the broker。It is important to ensure that brokers are regulated by at least one reliable institution, which varies from country to country.。

Some of the major regulators include the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) in the United States, the Financial Conduct Authority (FCA) in the United Kingdom, the Australian Securities and Investments Commission (ASIC) in Australia, as well as the Cyprus Securities and Investments Authority (ASIC) and the Cyprus Exchange Commission (CySEC).。

The regulation mainly deals with the way in which retail traders engage in gold trading and the list of requirements that brokers must comply with, and regulators will closely monitor the financial health and compliance of brokers to ensure the reliability of brokers and the safety of client funds.。

2.Trading platform

The best gold trading brokers always have multiple trading platforms for all traders with different levels of expertise。Choosing a broker that offers multiple trading platforms gives you more flexibility to choose the platform that best suits your needs。

Most brokers offer demo accounts for novice traders。Demo accounts also allow you to gain early experience before you start investing with real money。

You can use multiple trading platforms to trade gold。Many market makers offer the popular MetaTrader 4 platform, on which gold and the US dollar (XAU / USD) are listed as currency pairs.。You can also find gold listed by brokers offering the ActTrader, JForex and cTrader platforms as well as various mobile applications。

Not only that, you can also trade using the Currenex platform, which launched gold trading in 2015 as a pairing of gold / USD and gold / EUR。

3.Gold Analysis

The best gold trading broker must provide excellent technical support and tools. You can trade gold through "EA Trading" in the trading platform, which can be managed using various programming languages。

When trading gold, you certainly need a variety of market insights or analysis to understand price movements, so you should look for a broker with special market analysis capabilities for gold to broaden your horizons。

4.Spreads and commissions

Online gold trading brokers earn income through spreads。It is important to compare the prices of several brokers to determine which one offers the best offer。There are websites that allow you to compare spreads offered by different gold trading brokers。

Some brokers may offer cheap prices to attract new customers, but end up taking the money, so you'd better be realistic about this aspect and not be tempted by large discounts。

It is worth noting that although most Forex platforms are commission-free, gold has the largest spread compared to other assets on the platform。As a result, some platforms can offer up to 80 pips of gold.。

Combined with commission requirements, gold trading brokers are certainly more expensive than regular currency pairs, so gold traders must be prepared for this。

5.Trading Account

It is also important to check the selection of trading accounts when choosing the best gold trading broker。Each account type is usually designed to meet the specific criteria of different categories of traders, so see which account type you need and check if the broker offers it。

In general, gold trading brokers offer three types of trading accounts:

• Micro Accounts: Junior Accounts for Novices。The contract size is usually small, limited to no more than 10 troy ounces, for traders with an account balance of less than $1,000, and the minimum trade size is about 0.01 lots or 10 units of assets。
  Gold account: Medium-grade account type, usually suitable for traders who can afford between $1,000 and around $9,999。
  VIP account: This account type is suitable for experienced traders with a lot of idle cash。Relatively large contracts with account capital requirements of $25,000 or more。Through this account, traders can also receive various additional benefits, such as social events, tickets to popular venues, etc.。

6.Customer Support

The best brokers should have good client support to show their good will to help and serve their clients。In an unexpected situation, any trader wants quick and responsive customer support to solve their problems as quickly as possible。

Therefore, it is wise to choose a broker that provides active customer support at least during normal business hours。Even better if the broker offers 24 / 7 customer service。

7.Leverage

Finally, look at the leverage of the broker。The rules of gold trading leverage are different from those of foreign exchange trading leverage.。For example, the average broker leverage for forex trading is about 1: 30 to 1: 500, while the standard leverage for trading gold is only about 1: 20 to 1: 50.。

Top Gold Trading Brokers

Following the above criteria, here are some examples of gold trading brokers:

• Pepperstone
  Pepperstone is a leading ECN broker operating under the jurisdiction of the FCA offering 0.Floating point difference from 9 o'clock。For account availability, standard and Razor accounts are available with a leverage ratio of 1: 20 for gold trading。Traders can choose from multiple trading platforms: MT4, MT5, cTrader and TradingView。

  AvaTrade

  Founded in 2006, AvaTrade is a leading broker regulated on six continents, including CBI, ASIC, FSCA, BVI FSC, FSA and ADGM.。The broker offers gold trading leverage of 1: 20 and a market spread of about 0.29美元。In terms of trading platforms, traders can choose between MT4 and MT5。

  FXTM
  FXTM or "ForexTime," founded in 2011, is fully regulated in the UK, Cyprus, Mauritius and South Africa。The best thing about FXTM is that they provide an always updated gold market analysis。They also offer ultra-low commission rates and as low as 0.Spread of 0。Like AvaTrade, gold traders can enjoy these services on the MT4 or MT5 platform.。

  eToro
  eToro, which is regulated in several countries, including Cyprus, the UK, Australia and the US, also offers gold analysis updates on its website.。With a leverage ratio of 1: 10, traders can trade gold on the eToro trading platform。

  XTB
  XTB is regulated by several top regulators including IFSC, FCA, KNF and CySEC。For gold traders, XTB provides 1: 5 leverage for gold trading in a standard or professional account。For standard accounts, the spread is from 0.Floating from 9: 00。

Conclusion

Although gold trading is considered more traditional than new assets such as cryptocurrencies, its popularity has always been high。Gold trading offers excellent opportunities due to its broad market and more stable prices。

There are several important factors to consider when choosing a gold trading broker, as described in this article, including regulatory, software, fees and commissions, trading platforms and trading accounts, etc.。Be sure to be realistic about your options and weigh all the pros and cons before continuing to register with a broker。

One of the factors to consider when choosing a gold trading broker is the spread。To minimize fees, especially for those with limited funds, look for gold trading brokers that offer low spreads。