27 🥇 Best Crude Oil Trading Brokers and Platforms – ( Reviewed ) 2020

Crude Oil Platforms

 

According to research in South Africa, similar to the stock market, the crude oil market is made up of different participants which includes both investors and speculators. But it does differ in the fact that the crude oil market is more prone to volatile swings due to geopolitical forces.

Oil is an asset which traders can trade as a CFD online, meaning they will speculate on the price of oil, rather than actually buying the underlying asset. Oil price is subject to change from a number of outside factors including geopolitical or an oversupply of oil for instance.

The following brokers in our recommended oil brokers list has been compiled and based on a number of factors including the performance of the broker, the transparency, the level of service, the product and the conditions offered by the company – to name but a few.

 

A review of XTB
 

XTB

 

XTB is a European broker which was founded in 2002, and has offices in 13 countries across the globe.  XTB is regulated by some of the world’s biggest supervision authorities and has been listed on the Warsaw Stock Exchange since 2016.

 

XTB is a fintech company which combines financial services with innovative technology and it offers clients two platforms to choose from:

 

  • xStation 5
  • MT4

 

XTB is different from other brokers in three main aspects: its trading platform, their level of educational and analytical materials, and a high level of support.  XTB offers free educational material in the form of their online Trading Academy and video tutorials.

 

Traders can choose from 25 crypto CFDs (9 individual coins or 16 crypto pairs) which are available 7 days a week (from 3am Saturday to 9pm Friday). Traders can buy or sell digital coins with 2:1 leverage and 365-day expiry.

 

Pros and Cons

 

Pros Cons
Used by 230,000+ traders Doesn’t offer VPS
Established in 2002 Limited range of instruments
Regulated by Financial Conduct Authority Not ASIC Regulated
Min. deposit from $1

 

To open a live account, traders will need a minimum deposit of at least $1.

 

Benefits

 

Trading Features: Accounts offered: Funding methods:
Allows scalping Demo account Credit cards
Allows hedging Micro account Bank Transfer
Offers STP Mini account PayPal
Low min deposit Standard account Skrill
Guaranteed stop loss Islamic account Payoneer
Offers Negative Balance Protection Netelle

 

XTB support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

 

A review about eToro
 

eToro

 

eToro is a leading social trading platform for trading major financial markets including stocks, forex and cryptocurrencies.

 

Pros and Cons

 

Pros Cons
Used by 6,000,000+ traders Doesn’t allow scalping
Established in 2006 Inactivity Fee
Regulated by Financial Conduct Authority, CySEC, ASIC Limited range of instruments
Min. deposit from $200

 

eToro offers over 1,083 different instruments to trade, including over 47 currency pairs.

 

Benefits

 

Trading Features: Accounts offered: Funding methods:
Offers STP Demo account Credit cards
Low min deposit Micro account Bank Transfer
Mini account PayPal
Standard account Skrill
Islamic account Payoneer
Neteller

 

eToro supports a wide range of languages including English, German, Spanish, French, and Italian.

 

A review about Interactive Brokers
 

Interactive Brokers

 

Interactive Brokers had its start in 1978 and is one of the biggest US-based discount brokers regulated by several financial authorities globally.

 

Pros and Cons

 

Pros Cons
Wide range of products Extremely complex desktop trading platform
Many great research tools Complicated account opening process
Regulated by several authorities High inactivity fee

 

Customer Service is available

  • 24-hour weekday phone line with callback service
  • Online chat with a human agent
  • Secure message centre
  • AI-powered IBot directs customers to online FAQs and resources

 

Interactive Brokers provides a wide range of investor education programs provided free of charge and the traders Academy is a structured for financial professionals, investors, educators, and students.

 

A review about Markets.com
 

Markets.com

 

Markets.com is an online broker which founded in 2008 and offers Forex, CFDs and Spread Bets. Spread Bets are only available to UK customers trading and Markets.com is a global broker with a head office situated in Cyprus.

 

New traders will need to make a minimum deposit of $100 and a demo account is available for those who wants to try before they ‘buy’ in.

 

Traders can trade in a wide variety of instruments and currency pairs

 

  • Over 100 instruments
  • Over 80 currency pairs

 

Markets.com offers both of the MetaTrader platforms; MT4 and MT5. plus, mobile apps for Android and iOS.

 

Benefits

 

  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

 

Markets.com Trading Accounts on Offer include:

 

  • Demo account
  • Mini account
  • Standard account
  • Islamic account

 

Markets.com support a wide range of languages including Arabic, Chinese, Dutch, English, French, German, Italian, Japanese, Norwegian, Polish, Romanian, Russian, Spanish, and Turkish.

 

A review of FP Markets
 

FP Markets

 

FP Markets is a global, online broker which was founded in 2005 and offer Forex trading and has a head office situated in Australia.  When starting off with FP Markets traders will need to make a minimum deposit of $100 and a demo account is on offer with a wide variety of instruments and currency pairs on offer.

 

Over 100 instruments and over 60 currency pairs in total is on offer, on the popular MT4 forex trading platform.  FP Markets also offers traders mobile apps for Android and iOS.

 

Benefits

 

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

 

FP Markets Trading Accounts Offered include: Demo, Mini, Standard, ECN, STP, Managed and Islamic and all accounts support a wide range of languages including English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish, Indonesian, Thai, Malay, German, Vietnamese.

 

A review of AvaTrade
 

AvaTrade

 

AvaTrade is an excellent partner for all types of trader, be it beginner or pro – with over 200,000 active traders around the globe, on both the MetaTrader 4 and AvaGo platforms.  AvaTrade offers great trading conditions across Forex, commodities, cryptocurrencies, ETFs, bonds, and equities and boasting FSCA and ASIC regulation.

 

Account types

 

  Min. Deposit Max. Leverage Min. Spread Commission
Islamic USD 100 400:1 1.3 pips None
Professional USD 100 400:1 1.3 pips None
Retail USD 100 400:1 1.3 pips None

 

AvaTrade does not charge their clients for making deposits and withdrawals and the only costs are the bank card, e-wallet, or bank transfer fees.  Traders have access to professional customer support, 24 hours a day, five days a week.

 

A review of HotForex
 

HotForex

 

HotForex offers traders a variety of account types to choose from including fixed and floating spreads, commission-free trading (in Micro, Premium and Fixed accounts) or tighter spreads, involving commission fees. Beginner traders can sign up for Micro accounts with a minimum deposit of as little as $5, and micro lots are available for trade on all accounts.

An Auto Account, which enables traders to subscribe to free and paid Trading Signals from the MQL5 Community and a HF Social account, which provides trading powered by FxStat is also on offer.

 

Benefits

 

Account type Minimum deposit  Minimum trade size Maximum leverage  Average Spreads 
Micro $50 0.01 1:1000  1.2 pip on EUR/USD
Premium $500 0.01 1:400 1.2 on EUR/USD
Fixed $500 0.01 1:400 1.8 pip on EUR/USD
Zero $100 0.01 1:200 0.1 pips on EUR/USD + commission $4 per lot traded (per side)
Currenex $500 0.01 1:400 0.2 pips on EUR/USD + commission $5.00 per lot traded (per side)
VIP $20,000 0.01 1:300 0.2 pips on EUR/USD + commission $6.00 per lot traded round turn

 

HotForex is a retail forex broker, offering attractive conditions for trading in a wide range of instruments, including Forex, Spot Metals and CFDs on commodities, indices and popular shares such as Google, Apple and Facebook.

 

A review about easyMarkets
 

easyMarkets

 

easyMarkets is an easy to use platform and offers several unique features which is attractive to beginners through its branded trading platform. easyMarkets is pricey and offers only a small selection of tradeable products.  easyMarkets was founded in 2001 and is regulated in one tier-1 jurisdiction and one tier-2 jurisdiction, making it a safe choice and average-risk for forex and CFDs trading.

 

easyMarkets has an excellent proprietary web-based platform that is easy to use and offers two beginner-friendly features including dealCancellation and Freeze Rate. The easyMarkets line-up includes forex market research tools, 256 tradeable instruments, and a mobile app.

 

Features

 

Feature easyMarkets
Forex: Spot Trading Yes
Currency Pairs (Total Forex pairs) 62
CFDs – Total Offered 199
Social Trading / Copy-Trading Yes
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD Yes

 

easyMarkets offers two platforms, its own proprietary HTML5 web-based platform and MetaTrader 4 (MT4) and a good customer service experience.

 

A review of IG Group
 

IG

 

IG is regulated and trusted across the globe and offers traders an extensive list of tradeable products, excellent trading and research tools, industry-leading education, and competitive rates.

 

Features

 

Feature IG
Forex: Spot Trading Yes
Currency Pairs (Total Forex pairs) 93
CFDs – Total Offered 17535
Social Trading / Copy-Trading Yes
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD Yes

 

IG uses its size to provide traders competitive pricing across the board, regardless of the product traders choose to trade, and stands out from the crowd for its active trader pricing available through its Forex Direct accounts.

 

Platforms and Tools on offer include: 

 

  • Flagship platform:IG’s main trading platform is its patented web-based platform.

 

  • Charting:The default charts within the platform feature advanced functionality, such as the ability to add an alert on a specific indicator, with a total of 28 studies available to select.

 

  • Additional platforms: The MetaTrader4 (MT4) platform and its L2 Dealer platform where Forex Direct and Direct Market Access (DMA) are available for share trading.

 

  • ProRealTime charts:More advanced charting with nearly 100 indicators is provided by IG via the ProRealTime premium charting.

 

IG provides traders with an excellent selection of quality market research and its mobile app competes with the best of the best as the app comes packed with plenty of features that will satisfy both casual and advanced traders.

 

A review about Forex.com
 

Forex.com

 

FOREX.com delivers an excellent trading experience for both forex and CFDs traders alike. With competitive pricing, full-feature trading platforms, comprehensive market research, and a robust mobile app, FOREX.com caters to traders of all experience levels, from beginner to pro.

 

FOREX.com is publicly-traded and regulated in four tier-1 jurisdictions, making it low-risk for forex and CFDs trading alike.  FOREX.com has earned Best in Class (top 7) awards for numerous categories in 2020, including Offering of Investments, Commissions & Fees, Education, Professional Trading, Crypto Trading, Ease of Use, and Overall.

 

Features

 

Feature FOREX.com
Forex: Spot Trading Yes
Currency Pairs (Total Forex pairs) 91
CFDs – Total Offered 4500
Social Trading / Copy-Trading No
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD Yes

 

FOREX.com’s pricing structure is competitive and easy to understand, provides forex traders everything they need, and more, to trade effectively through platforms and tools on offer, which include – Advanced Trading, Web Trading and MetaTrader.

 

A review about FBS
 

FBS

 

FBS offers traders a choice of four accounts and all accounts offer market execution and the chance to trade in micro lots in Cent accounts for more precise risk management.

 

Benefits

 

Account type Minimum deposit Minimum trade size Maximum leverage Spreads
Cent $1 0.01 lot 1:1000 from 1 pip
Standard $100 0.01 lot 1:3000 from 0.5 pips
Zero Spread $500 0.01 lot 1:3000 0 pips + $20/lot
Micro $5 0.01 lot 1:3000 fixed, from 3 pips
ECN $1000 0.1 lot 1:500 from -1 pip + $6/lot

 

FBS is a popular international broker and offers clients competitive trading conditions, a wide range of trading accounts, payment methods, a choice of fixed and variable spreads, Metatrader 4 and MetaTrader 5, as well as various promotions.  An account with FBS can be opened for just $1.

 

A review on Plus500
 

Plus500

 

Plus500 is a trusted global brand with a user-friendly platform on offer.

 

Is Plus500 Safe?

 

Plus500 is considered low-risk, and is publicly traded but does not operate a bank.

 

  • Regulated
  • Licensed
  • Considered as a safe broker to trade forex and CFDs with.

 

Plus500 offers 2033 CFDs, together with on 50 currency pairs, which is a touch higher than most forex brokers.

 

Commissions & Fees

 

Plus500 has a minimum deposit of €100 and does not offer any discounts to active traders or VIP clients.

 

Platforms & Tools

 

The Plus500 platform is available for desktop, web, and mobile; but, MetaTrader is not offered. Plus500’s flagship platform includes:

 

  • The Plus500 WebTrader (browser-based) platform is perfect for beginners and both the desktop and web-based versions focus on simplicity.

 

  • The Plus500 WebTrader platform offers robust charting with over 100 optional technical indicators plus the ability to save chart templates.

 

The Plus500 mobile app is similar to the web and desktop versions, consistent in both look and feel.

 

A review about Pepperstone
 

Pepperstone

 

Pepperstone was founded in 2010 in Melbourne, and processes, on average, $12.55 billion of trades each day (October 2019) and is best known for its extensive selection of third-party trading platforms.

 

Pepperstone provides forex and CFD traders competitive pricing, outstanding customer service, and one of the largest selections of third-party platforms available.  Pepperstone also offers a small set of tradeable products but.

 

Is Pepperstone Safe?

 

Pepperstone is measured as average-risk and is not publicly traded and does not operate a bank. Pepperstone is authorised by:

 

  • Two tier-1 regulators
  • Zero tier-2 regulators
  • Zero tier-3 regulators

 

Pepperstone is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA).

 

Commissions & Fees

 

Pepperstone is an agency-execution broker and offers a decent range of options on pricing plans, with its commission-based Razor Account being the top choice.

 

Account types:

 

Pepperstone offers two pricing models which are dependent on the account type the user wishes to open, ranging from:

 

The Standard Account: Which incorporates commissions into the prevailing spreads. Fees may also slightly vary, depending on the platform the user choose to trade.  The standard account is commission-free but has higher spreads and is not as competitive as the Razor Account.

 

Razor Account: The Razor Account can be used with either the MetaTrader (MT4) or cTrader platforms and follows a commission-based pricing structure in addition to prevailing spreads.

 

Active traders: Pepperstone’s active trader program offers discounts on the appropriate commission rates which helps to boost its ranking in the active trader category.

 

  • A minimum amount of 200 lots is required to qualify for the lowest tier
  • A rebate of $1.00 per standard lot
  • Applies only to Razor accounts.

 

Order-Routing: Pepperstone uses its EDGE infrastructure to help bridge the MetaTrader platform with liquidity providers and incorporates its Pepperstone Price Improvement (PPI) technology to help improve execution rates.

 

Platforms & Tools

 

Pepperstone offers an excellent third-party platform.

 

  • Platforms: Pepperstone offers the full MetaTrader and cTrader suites which includes a MT4 (desktop and web), MT4 Multi-terminal, MT5, cTrader (desktop and web), and cAlgo. Traders can use either account type, Razor, or Standard, with any platform.

 

Copy trading:  Pepperstone offers

 

  • The MirrorTrader and RoboX platform from Tradency
  • The ZuluTrade platform
  • MyFxbook for MT4

 

cTrader vs MT4: Both cTrader and MT4 support algorithmic trading, cTrader has an advantage with its web-based platform.

 

Broad range of third-party social copy-trading platforms and research tools:

 

  • Third-party tools:Pepperstone offers traders access to AutoChartist, which is a well-known, popular software provider of automated pattern recognition and trading signals.

 

  • Smart Trader Tools are also offered by Pepperstone which included an MT4 add-on with tools such as sentiment indicators.

 

  • Market analysis: Pepperstone offers content from third-party analysts. Trading Economics, a provider of market data, powers the firm’s economic calendar.

 

  • In-house commentary:  Pepperstone’s in-house research offers content such as “Daily Fix” and a “Chart of the Day” series.

 

Mobile Trading

 

At Pepperstone, Mobile trading is conduct with either the MetaTrader 4 (MT4) or MetaTrader 5 (MT5) mobile app, or the cTrader app, all available directly from the developer.

 

Customer Service

 

  • Average Connection Time:<1 minute
  • Average Net Promoter Score:9 / 10
  • Average Professionalism Score:5 / 10
  • Overall Score:42 / 10
  • Ranking:4th of 22 brokers

 

A review of IC Markets
 

IC Markets

 

IC Markets is an online broker which was founded in 2007 and offers Forex, CFDs, Spread Betting, Share dealing, and Cryptocurrencies trading on offer both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform developed for traders.

 

IC Markets is a global broker and has a head office situated in Australia and new traders will need a minimum deposit of $200 to get started and a demo account is on offer for those who want to get acquainted with the IC Markets platform.  IC Markets are able to accommodate various levels of traders whether they are experienced or just beginning in the trading game.

 

Traders can trade in a wide variety of instruments and currency pairs

 

  • Over 232 instruments
  • Over 65 currency pairs

 

IC Markets also offer traders mobile apps for Android and iOS and two accounts types, Standard account and Raw Spread account.  IC Markets supports a wide range of languages including English, Japanese, Chinese, Polish, Afrikaans, Danish, Dutch, German and more.

 

A review of ThinkMarkets
 

ThinkMarkets

 

ThinkMarkets is an online broker which was founded in 2010 and offers both Forex and CFDs trading with over 100 instruments and over 40 currency pairs which can be traded on the popular MT4 forex trading platform.  ThinkMarkets also offer mobile apps for Android and iOS.

 

ThinkMarkets is a global broker with a head office based in Australia and a minimum deposit of $250 will be needed to make a start.   ThinkMarkets doesn’t charge neither withdrawal or inactivity fees.

 

Benefits

 

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

 

ThinkMarkets Trading Accounts Include:

 

  • Demo account
  • Mini account
  • Standard account
  • ECN account
  • STP account
  • Islamic account

 

ThinkMarkets support a wide range of languages including English, Chinese, and Japanese and has a double AA grade support rating.

 

A review about CityIndex
 

City Index

 

City Index is an online broker which was founded in 1983 and offers Forex, CFDs and Spread Betting trading and traders can trade in over 12,500 instruments and over 100 currency pairs on the popular MT4 forex trading platform.  City Index also offer mobile apps for Android and iOS.

 

City Index is a global broker and has a head office situated in the UK and new traders will need to make a minimum deposit of $25 to make a start.

 

Benefits

 

  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

 

City Index Trading Accounts on Offer include:

 

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • STP account
  • Managed account

 

City Index support a wide range of languages including English, Spanish, German, Arabic, Polish, and Chinese and has a triple AAA grade support rating.

 

Trading 212 Review
 

Trading 212

 

Trading 212 is a global online broker which was founded in 2006 and offers trading in Stocks, Forex, Commodities and Indices trading.  With Trading 212 new traders will need a minimum deposit of $1 to start and they have the option to sign up for a demo account.

 

Trading 212 accommodates traders on various levels, whether it be experienced or novice.  Trading 212 is regulated and supervised by reputable organisations and have won numerous industry awards over the past 14 years that they have been in operation.

 

Trader can trade in over 3000 instruments and over 177 currency pairs.  Trading 212 offer traders a user-friendly custom trading platform which is also available as a browser-based web application alongside mobile apps for Android and iOS.

 

Trading 212 benefits include:

 

  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

 

Trading 212 also offers traders a good selection of educational resources and offers customer support in a wide range of languages.

 

A review about Admiral l Markets Review
 

Admiral Markets

 

Admiral Markets is an online broker which was founded in 2001 and offers Forex and CFDs trading, is globally recognized and has a head office based in the UK.  Traders will need a minimum deposit of $200 to start and can sign up for a demo account to in over 148 instruments and over 40 currency pairs.

 

Admiral Markets offers both of the MetaTrader platforms; MT4 and MT5 and mobile apps for Android and iOS.

 

Benefits

 

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

 

Admiral Markets Trading Accounts Offered:

 

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • STP account

 

Admiral Markets offers support in a wide range of languages including English, Spanish, Hungarian and much, much more!

 

A review about FXTM
 

ForexTime (FXTM)

 

ForexTime (FXTM) Offers Local NGN Funding, an offer not made by most online brokers which increases exchange costs of currency trading. ForexTime offers NGN account funding through bank wire transfer or Neteller with a minimum deposit of $100 for a standard forex account for ForexTime. This allows traders to start trading a range of currency markets while lowering the exchange costs when moving NGN currency to a standard base currency.

 

Features

 

ForexTime offers social trading (copy trading) which means a trader:

 

  • Selects a Strategy Manager
  • Makes a deposit (minimum deposit of $100)
  • Mirror the Strategy Manager’s trade
  • Watch as you share a percentage of wins/losses
  • Cash-out or add deposits when required

ForexTime is ideal for Nigerian traders new to CFDs with a higher risk profile.

 

A review about CMC Markets
 

CMC Markets

 

CMC Markets Has the Lowest Minimum Deposit and is one of the largest online brokers for stock market and currency trading in Nigeria. CMC Markets offer:

 

  • A range of financial markets including Bitcoin
  • $0 minimum deposit and easy funding methods
  • Advanced charting through the Next Generation CFD platform

 

Financial Markets With CMC

 

CMC Markets specialise in trading forex with over 330 forex pairs but this is not the only CFDs financial markets traders can trade.

 

Other CFDs include:

 

  • Indices
  • Shares
  • Efts
  • Commodities and treasuries

 

A more recent addition is cryptocurrencies which ranges from:

 

Bitcoin, Ethereum, Litecoin and to Tron. Leverage ranges based on the crypto chosen with more well know cryptocurrencies like bitcoin offering more leverage compared to niche currencies pairs.

 

Funding with CMC Markets

 

CMC Markets offers basic funding methods including:

 

  • Credit Cards (minus AMEX or Diners cars)
  • Debit Cards
  • Bank account transfers

 

The biggest advantage is that CMC Markets has a $0 minimum deposit which means that you can move from a demo account to a live account without a large deposit required.

 

Advanced Charting Through the Next Generation Platform

 

CMC offers the choice of MT4 forex trading platform or the next generation platform.

 

Other key features of the Next Generation charting include:

 

  • 35+ drawing tools
  • Technical indicators
  • Price History
  • Chart Intervals
  • Customised Charts

 

These five key features and the ability to trade directly from charts is why CMC’s CFD trading platform is considered the leader when it comes to charting.

 

A review about Saxo Bank
 

Saxo Bank

 

For traders who can afford the USD 10,000 minimum deposit (GBP 500 for the UK), Saxo Bank offers traders competitive pricing, excellent trading platforms, excellent research, steadfast customer service, and over 40,000 instruments to trade.  Saxo Bank was founded in 1992, and it is a regulated bank and licensed in six tier-1 jurisdictions, making it a safe broker (low-risk) for forex and CFDs trading.

 

Saxo Bank is an exclusive broker, and therefor requires a large USD 10,000 minimum deposit (GBP 500 for the UK, SGD 3,000 for Singapore) to open an entry-level “Classic” account. Saxo Bank’s Platinum and VIP accounts require USD 200,000 and 1,000,000, respectively. If a broker can get past the stiff deposit, the entire Saxo Trader client experience is unquestionably brilliant and worth the price paid. Alongside access to trading 40,000 instruments, Saxo Bank offers reliable customer service and excellent pricing across the board.

 

Saxo Bank’s branded trading platforms SaxoTraderGO (web) and SaxoTraderPRO (desktop) sets industry benchmarks with streamlined designs and robust trading tools on offer.

 

A review of XM
 

XM

 

XM is an online broker which was founded in 2009 and offers traders Forex and CFDs trading.  XM is a global broker and has a head office situated in Cyprus and a starting account will need a minimum deposit of $5. The XM is able to accommodate a various level of traders whether they are experienced or just starting off.

 

Traders can trade in a wide variety of instruments and currency pairs over 100 instruments and over 80 currency pairs.  XM offers both of the MetaTrader platforms; MT4 and MT5 plus mobile apps for Android and iOS.

 

XM Trading benefits:

 

  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection

 

XM Trading Accounts Offered include: Demo, Micro, Mini, Standard, Zero Spread and Islamic and all accounts support a wide range of languages including Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish

 

A review about Instaforex
 

InstaForex

 

InstaForex is a MetaTrader only broker.

 

Pros and Cons

 

Pros Cons
InstaForex TV videos are cleanly recorded, consistently delivered, and the broker’s in-house market commentary is relevant and timely Default MetaTrader platform offered with no premium features
While InstaForex is authorised by the FCA, it is not regulated by the FCA

 

Is Instaforex Safe?

 

Instaforex is considered high-risk and is not publicly traded and does not operate a bank. Instaforex is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and one tier-3 regulator (low trust).

 

Commissions & Fees

 

InstaForex offers users two main account types:

 

  • Standard (ECN / non-dealing desk)
  • Eurica (dealing desk).

 

Both above mentioned accounts have a 1 USD minimum deposit.

 

Research & Education

 

InstaForex provides a range of offerings which includes InstaForex’s daily market analysis blogs and technical analysis posts via MT5. Interviews, weekly reviews, and educational videos are also available.

 

Education primarily includes videos, a glossary, and a variety of text articles based on forex trading.

 

Platforms & Tools

 

InstaForex is a MetaTrader4-only broker – offering the MT4 platform suite from MetaQuotes Software Corporation, developer of the widely popular MT4 and MT5 platforms for desktop, mobile, and web.

 

  • InstaForex features only the default functionality
  • No other third-party platforms or plugins provided to traders

 

iOS and Android versions of the MetaTrader 4 mobile app come standard and are both available for download from the Apple iTunes store and Android Playstore, respectively.

 

A review about IQ Option
 

IQ Option

 

Founded in:                        2013

Headquarters:                   Cyprus

Regulation:                         CySEC

Platforms:                           In-House Platform

Leverage:                            1:30 and/or 1:1000

Minimum Deposit:          USD$10

 

IQ Option is a broker developed under the IQ Option Europe company which was founded in 2013. IQ Option contains a CySEC license Cyprus Securities and Exchange Commission from Cyprus, with permission to provide its financial services within the European Economic Area zone, with several licenses from other EU local jurisdictions. IQ Option offers its clients services in binary options, stocks and shares, currencies, and ETF trading.

 

The IQ Options trading platform and website are available to traders in thirteen different languages and allows traders to choose the currency to trade with. The selections of currencies are: GBP, RUB, EUR, IDR, USD, MUR, and Yuan.

 

Pros and Cons

 

Pros Cons
Regulated by the Cyprus Securities and Exchange Commission (CySEC) Does not provide MT4 and MT5 trading platforms
Easy and convenient method of opening an account Not available for traders in the US, Canada, Australia, Japan, and other countries
Wide range of trading instruments
No deposit and withdrawal fees

 

A review of Exness
 

Exness

 

The Exness Group was founded in 2008, and offers traders access to more than 120 financial instruments to trade across.  Trading platforms available from Exness includes MetaTrader 4MetaTrader 5, mobile trading platforms and the MT4 WebTerminal.

 

Pros and Cons

 

Pros Cons
Segregates client funds Limited range of instruments
Established in 2008 Not FCA Regulated
Min. deposit from $1

 

Exness offers over 105 different instruments to trade, including over 103 currency pairs.

 

Benefits

 

Trading Features: Accounts offered: Funding methods:
Allows scalping Demo account Credit cards
Allows hedging Mini account Bank Transfer
Offers STP Standard account Payoneer
Low min deposit ECN account Neteller
Islamic account

 

Exness support a wide range of languages including English, Russian, Chinese, Urdu, Malay, Indonesian, Hindi, Arabic, Bengali, Farsi, Tamil, Vietnamese, Thai, Korean, and Spanish.

 

A review about TD Ameritrade
 

TD Ameritrade

 

TD Ameritrade was founded in 1978 and it is one of the biggest US-based stockbrokers. It is regulated by top-tier regulators like the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading Commission (CFTC).

 

Pros and Cons

 

Pros Cons
Low trading fees (free stock and ETF trading) You can trade only in the US markets
Superb desktop trading platform Slow and not fully digital account opening
Great customer support No credit/debit cards and electronic wallets for money transfer

 

Major investment categories include:

 

  • Options
  • ETFs
  • Mutual Funds
  • Futures
  • Forex
  • Managed Portfolios

 

Customer service options are available 24/7.

 

  • 24/7 phone line.
  • Chatbots deployed on Twitter, Facebook Messenger, Apple Business Chat, and WeChat (in Asia).
  • Live chat support on the TD Ameritrade Mobile trader app.
  • Excellent trading-related guides
  • TD Ameritrade support associates have the ability to shadow your trading platform and demonstrate its features to you.
  • The virtual client service agent, Ask Ted, provides automated support by answering client’s questions and directing them to content within the site.

 

A review about FXCM
 

FXCM

 

FXCM caters to multiple trader types including High-volume traders, algorithmic traders, and traders who appreciate robust trading tools and quality market research.

 

Is FXCM Safe?

 

FXCM is considered low-risk. FXCM’s parent company is publicly-traded, does not operate a bank, and is authorised by three tier-1 regulators (high trust), two tier-2 regulators (average trust), and zero tier-3 regulators (low trust).

 

Commissions & Fees

 

FXCM stands out the most in regards to its Active Trader account offering, where low commission rates and average spreads provide competitive pricing for high volume traders.  Active Trader accounts are available for clients who deposit at least $25,000, which comes with a lower commission rate of $25 per million and access to premium research.  Standard account holders are only charged the prevailing spreads, Active Trader accounts are charged a commission per trade, in addition to reduced prevailing spreads.

 

Platforms & Tools

 

FXCM offers a growing range of trading platforms and tools including:

 

  • Trading Station desktop:FXCM’s flagship trading platform, caters well to forex traders of all skill levels.
  • Trading Station web:The web version of Trading Station features includes news, videos, research, market data signals, and links to external resources.
  • Ninja Trader: Features numerous trading tools, including automated trading capabilities.
  • Algorithmic Trading:The FXCM App store provides various add-ons, technical indicators, and automated trading robots.

 

Customer Service

 

  • Average Connection Time:<1 minute
  • Average Net Promoter Score:3 / 10
  • Average Professionalism Score:2 / 10
  • Overall Score:77 / 10
  • Ranking:3rd in 22 brokers

 

FXCM provides a wide variety of market research and related resources. A combination of Trading Station and MetaTrader4 (MT4), FXCM delivers a reliable, feature-rich mobile offering for forex traders.

 

In Conclusion

 

Crude oil is one of the most popularly traded commodities due to high liquidity and a volatile nature. Traders should take on the task of choosing a Crude Oil broker the same as when looking at a broker for any other trading reason.  Traders must ensure that they are regulated and offers trustworthy support.

 

Frequently Asked Questions

 

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