Gold Trading Brokers
Events, circumstances, and experiences arise and pass away. Winning trades, losing trades, fear, greed, sadness, happiness, and eventually your own life. Everything is in constant flux. Learn to go through it with the stability of mind. A meditation practice helps a lot.
For Finding the broker who has the best services for trading in gold we have particularly analyzed the broker by trading ourselves. On the basis of the lowest cost and fastest services, we are going to deduce the top 5 brokers in this category.
Points which we have kept in mind while analyzing the broker are as follows:
1. Spread should be lowest.
2. No commission on account type.
3. Swap should be minimum.
OCTAFX
Account Type: Micro
OctaFx is a well-known broker in India, along with that broker offers the lowest spread with no commission account for gold trading. Let us have look at various day spreads of Gold below:
The average spread of gold with this broker comes out to be approximately 19.75 which is quite low as compared to other brokers. Apart from that, the broker is known for its fast services with the fastest chat support as well.
If you only want your major trade to be gold, then this is indeed a good broker.
GMI Edge
Account type: ECN
The broker is not well known in India but the spread rates are good for trading in gold that’s why it ranks in the second position. Let’s have a look at the spread values offered by this broker in ECN Account:
The average spread with this broker comes out to be 20 pips which are the second-lowest of all.
Thus, if you only want to trade in gold this broker can be an option.
Hot Forex
Account Type: Zero
With this account, all other currency has a commission but they don’t charge any commission on Gold Trade, Along with that, the broker provides the lowest spread. The broker might not be very popular in India but the broker services can be considered fair enough and one can think of using this broker, especially for gold trades.
For better understanding let us have a look at the spread values of zero account.
The average spread that comes out to be after a week of data collection is approximately 29.5 which is the lowest after OctaFx.
Overall, the broker services are good and one can use this broker for trading.
XM
Account Type: Micro
XM is one of the popular brokers in India, also the broker services are quite good. The broker does provide a low spread for gold trading as well. This account type has no commission only a swap is charged if your trade is long-held.
Let’s have a look at the spread values which XM offers in this account for gold below:
XM does offer a good spread for gold especially when we analyzed the spread values of a whole week the average spread comes out to be 33. The broker overall provides very good services and is quite flexible to use.
One can definitely use this broker for trading in gold.
Robo Forex
Account Type: Prime
Even after adding the commission to the spread value, the overall cost of this account is less compared to other. Roboforex is not much well known in India but it does offer good spread values.
Let’s have a look at the spread values below:
After analyzing the data of this broker the average spread value even after adding commission comes out to be approximately 25 which is quite low. Though I don’t recommend this broker as well.