6 Best Oil Trading Brokers
The 6 Best Oil Trading Brokers revealed. We have explored and tested several prominent brokers to identify the 6 best.
In this in-depth guide, you’ll learn:
- What is an oil trading broker?
- What are the risks associated with oil trading?
- What are the trading hours for oil markets?
- What factors influence the price of oil in the market?
- How can I trade or speculate on the price of oil with a broker?
And lots more…
So, if you’re ready to go “all in” with 6 best oil trading brokers…
Let’s dive right in…
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker |
| 🥈 |  | Read Review | FSCA, IFSC, ASIC, CySEC, DFSA, FCA | USD 5 | Visit Broker |
| 🥉 |  | Read Review | FCA, FSCA, FSC, CMA | USD 200 | Visit Broker |
| 4 |  | Read Review | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | USD 200 | Visit Broker |
| 5 |  | Read Review | FSC, FSA, VFSC | USD 10 | Visit Broker |
| 6 |  | Read Review | CySEC, MISA, FSCA | USD 25 | Visit Broker |
| 7 |  | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker |
| 8 |  | Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker |
| 10 |  | Read Review | IFSC, FSCA, ASIC, CySEC | USD 1 | Visit Broker |
What is an oil trading broker?
A forex broker offering oil CFD trading grants investors access to speculate on the price movements of crude oil without owning the underlying asset. Through this platform, traders can trade contracts for difference (CFDs) based on oil prices, allowing for potential profit from both upward and downward market trends.
Best Oil Trading Brokers – Comparison
| 🥇 Broker | 🎖 Open an Account | 💰 Minimum Deposit | 📝 Regulation | 💻 Trading Accounts Offered | 🚀 Trading Platforms |
| 1. Axi | Open Account | No minimum deposit requirement | ASIC, FCA, DFSA | Live Trading Account, Demo Account | MetaTrader 4, Axi Trading Platform, Copy Trading Platform |
| 2. Dukascopy | Open Account | $100 | FINMA | Single retail trading account | Forex/CFD ECN Account, Forex MT4 Account |
| 3. IG Group | Open Account | $250 | FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA | IG Trading Account, Limited Risk Account, Islamic Account (Dubai traders only), Demo Account | MetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API |
| 4. Exness | Open Account | $10 | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA | Standard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trade app |
| 5. eToro* | Open Account | $50 | CySEC, FCA | Personal Account, Professional Account, Corporate Account, Islamic Account | eToro proprietary platform |
| 6. AvaTrade | Open Account | $100 | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA | Retail Account, Professional Account | AvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade |
*51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
6 Best Oil Trading Brokers (2024*)
- ✔️Axi – Overall, the Best Oil Trading Broker
- ✔️Dukascopy – Leading Swiss-based online broker
- ✔️IG – Strong Presence in the Financial Markets
- ✔️Exness – Offers a Diverse Range of Trading Instruments
- ✔️eToro – Provides a Wide Range of Educational Resources
- ✔️AvaTrade – Offers Various oil-related Assets
1. Axi
Axi, formerly known as Axi, is a prominent online broker offering comprehensive CFD (Contracts for Difference) trading services.
Established in 2007, Axi has earned a reputation for reliability and transparency in the financial markets.
Their CFD offering encompasses a diverse range of assets, including forex, indices, commodities, cryptocurrencies, and stocks, providing traders with ample opportunities to diversify their portfolios.
Axi’s platform is renowned for its user-friendly interface, advanced trading tools, and robust execution speeds, catering to both novice and experienced traders alike.
Clients can access the markets via the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, renowned for their charting capabilities and customizable features. Additionally, Axi offers competitive pricing with tight spreads and low commissions, ensuring cost-effective trading for its clientele.
With a commitment to innovation and client satisfaction, Axi continues to be a preferred choice for CFD trading, delivering a seamless trading experience coupled with reliable support services.
Axi Features
📝 Regulation ASIC, FCA, DFSA
📱 Social Media Platforms Instagram, Facebook, Twitter, YouTube, LinkedIn
🔎 Trading Accounts Live Trading Account, Demo Account
💻 Trading Platforms MetaTrader 4, Axi Trading Platform, Copy Trading Platform
💸 Minimum Deposit No minimum deposit
🔁 Trading Assets Forex, Shares, IPOs, Indices, Commodities, Cryptocurrencies
🚀 USD-based Account? Yes
💳 USD Deposits Allowed? Yes
💰 Bonuses for traders? No
📊 Minimum spread From 0.0 pips on Pro Account
✔️ Demo Account Yes
✔️ Islamic Account Yes
🎖 Open an Account Open Account
Pros and Cons
✔️ Pros ❌ Cons
Axi has established a solid reputation as a dependable and transparent broker in the Forex sector, building trust in traders. While Axi provides the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, some traders may want to trade on more than one platform.
Axi is regulated by renowned financial authorities, including the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA), which ensures stringent regulatory compliance. Although Axi provides basic research tools, some traders may find the research services inadequate when compared to other brokers.
Axi provides a wide range of trading instruments, such as currencies, commodities, indices, and cryptocurrencies, allowing traders to diversify their portfolios.
Axi offers comprehensive educational resources, like as webinars, tutorials, and market research tools, to help traders of all levels improve their trading abilities and expertise.
Axi provides responsive customer service across a variety of channels, including live chat, email, and phone support, ensuring that traders receive prompt assistance when needed.
Trust Score
✅ Axi has a trust score of 97%
2. Dukascopy
Overall, Dukascopy is a leading Swiss-based online broker renowned for its innovative trading solutions and robust financial services. Established in 2004, the company has carved a niche for itself in the global financial markets, offering a wide array of trading instruments, advanced technology, and top-notch customer service.
Additionally, one of Dukascopy’s standout offerings is its comprehensive oil trading assets. Traders can access various oil-related instruments, including Crude Oil (WTI and Brent), Heating Oil, and Gasoline, allowing them to capitalize on price movements in the energy markets.
With competitive spreads, flexible leverage, and seamless execution, Dukascopy enables traders to efficiently participate in oil trading, whether they’re seeking short-term opportunities or long-term investments.
Beyond its oil trading assets, Dukascopy boasts a myriad of features designed to enhance the trading experience.
The broker provides access to the cutting-edge JForex platform, renowned for its advanced charting tools, automated trading capabilities, and customization options.
Moreover, Dukascopy offers competitive pricing with transparent fees, ensuring cost-effective trading for its clients. With a commitment to security, reliability, and innovation, Dukascopy remains a preferred choice for traders seeking excellence in the financial markets.
Dukascopy Features
📝 Regulation FINMA
📱 Social Media Platforms LinkedIn, Twitter, Facebook, YouTube
🔎 Trading Accounts Single retail trading account
💻 Trading Platforms Forex/CFD ECN Account, Forex MT4 Account
💸 Minimum Deposit $100
🔁 Trading Assets Forex, Crypto, Indexes, Stocks, Bonds, Energy, Au. Commodities, ETF
🚀 USD-based Account? Yes
💳 USD Deposits Allowed? Yes
💰 Bonuses for traders? No
📊 Minimum spread From 0.0 pips
✔️ Demo Account Yes
✔️ Islamic Account Yes
🎖 Open an Account Open Account
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Dukascopy provides a strong ECN trading environment that includes direct access to interbank liquidity and competitive pricing. | Dukascopy charges a higher minimum deposit than some other brokers, which may be a hurdle for new traders. |
| Dukascopy's JForex platform is well-known for its reliability, speed, and comprehensive trading features, which provide traders with a flawless trading experience. | While JForex has extensive functionality, it may have a higher learning curve for new traders than more user-friendly platforms. |
| Some traders may find Dukascopy's customer service to be less attentive during high trading hours or on weekends. | |
| Traders with dormant accounts may face inactivity fees, which may be an issue for individuals who do not trade frequently. | |
| Dukascopy may provide less promotional offers or bonuses than other brokers, which could be a disadvantage for traders looking for more incentives. |
Trust Score
✅ Dukascopy has a trust score of 90%
3. IG Group
IG Group is a globally renowned broker providing comprehensive trading services since its inception in 1974.
In addition, with a strong presence in the financial markets, IG offers its clients a diverse range of oil trading opportunities. Traders can access various oil-related assets, including Crude Oil (WTI and Brent), Heating Oil, and Gasoline, allowing them to capitalize on price movements in the energy markets.
IG Group’s standout features for oil and CFD traders include competitive pricing with tight spreads and low commissions, ensuring cost-effective trading.
Moreover, IG offers access to cutting-edge trading platforms like MetaTrader 4 (MT4) and their proprietary platform, IG Trading, known for its user-friendly interface and advanced charting tools.
Additionally, IG provides comprehensive market analysis, educational resources, and responsive customer support, empowering traders with the tools and knowledge needed to make informed trading decisions in the oil and CFD markets.
IG Features
📝 Regulation FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA
📱 Social Media Platforms LinkedIn, Twitter, Facebook, YouTube
🔎 Trading Accounts IG Trading Account, Limited Risk Account, Islamic Account (Dubai traders only), Demo Account
💻 Trading Platforms MetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API
💸 Minimum Deposit $250
🔁 Trading Assets Forex, Indices, Shares, Commodities, Cryptocurrencies, Futures, Options
🚀 USD-based Account? Yes
💳 USD Deposits Allowed? Yes
💰 Bonuses for traders? No
📊 Minimum spread From 0.0 pips
✔️ Demo Account Yes
✔️ Islamic Account Yes (Dubai customers only)
🎖 Open an Account Open Account
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Controlled by credible regulators all around the world, encouraging confidence and a sense of safety. | In comparison to other brokers, some traders may consider the fees and levies to be high. |
| Indices, stocks, currencies, and commodities are among the many investment options that support various trading methods. | Compared to brokers with knowledge, they have limited access to specific markets or assets. |
| Transparent charge rules and competitive commission agreements help traders manage costs effectively. | Complex pricing structures may be difficult for novice traders to understand. |
| Trading platforms that are simple to use and include advanced tools and analytical capabilities promote efficient trade execution and decision-making. | During peak trading hours, customer care response times may be delayed, limiting the availability of immediate assistance. |
| Massive customer service via multiple channels ensures traders receive prompt assistance and guidance. |
Trust Score
✅ IG has a very high trust score of 99%
4. Exness
Exness is a prominent online broker renowned for its reliable trading services and innovative offerings. Established in 2008, Exness has grown to become a trusted name in the financial industry, serving clients worldwide.
Overall, among its diverse range of trading instruments, Exness offers oil trading CFDs, allowing traders to participate in the dynamic energy markets.
Clients can access popular oil assets such as Crude Oil (WTI and Brent), Heating Oil, and Gasoline, enabling them to capitalize on price fluctuations in these commodities.
Exness prides itself on its competitive trading conditions, including tight spreads, rapid execution speeds, and flexible leverage options, ensuring optimal trading conditions for its clientele.
Additionally, Exness provides a user-friendly trading platform, comprehensive educational resources, and responsive customer support, catering to the needs of both novice and experienced traders alike.
Exness Features
📝 Regulation FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA
📱 Social Media Platforms Instagram, Facebook, Twitter, YouTube, LinkedIn
🔎 Trading Accounts Standard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account
💻 Trading Platforms MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trade app
💸 Minimum Deposit Based on chosen regional deposit method
🔁 Trading Assets Forex, Metals, Crypto, Energies, Indices, Stocks
🚀 USD-based Account? Yes
💳 USD Deposits Allowed? Yes
💰 Bonuses for traders? No
📊 Minimum spread From 0.0 pips
✔️ Demo Account Yes
✔️ Islamic Account Yes
🎖 Open an Account Open Account
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Any trader can modify the leverage to suit their trading style and risk tolerance. | Exness operates in multiple regions, each with its own set of restrictions. |
| Traders can gain experience with virtual funds by demoing an account before investing in the live market. | Certain expert traders may believe that the platform's highly adjustable trading tools and capabilities are inferior to those of other specialty platforms. However, this represents a relatively small proportion of dealers. |
| Exness has been recognized for its practice of fully disclosing trading conditions, spreads, and fees. | While customer service representatives make every attempt to be always available, there may be variations in the timing and quality of their responses. |
| Exness does not impose any fees for withdrawals or deposits. | The possible intricacy and sophistication of the user interface may dissuade some traders from using it in comparison to their competitors. |
| There are options for depositing and withdrawing money locally. | Exness's sole focus on FX and CFDs may turn off potential investors searching for a more diverse range of investing opportunities. |
| Exness offers trading automation options to MetaTrader users, including Expert Advisors (EAs) designed specifically for Taiwanese clients. | Furthermore, having a lot of leverage increases the likelihood of substantial losses. |
| A diverse set of platforms and account types enable traders to trade across multiple markets. | Regardless of how deep the insights and market analysis are, some traders may consider they are inadequate. |
| Exness trades a variety of assets for its clients, including FX pairings, indices, cryptocurrencies, and commodities. |
Trust Score
✅ Exness has a trust score of 97%
5. eToro
eToro is a leading social trading platform renowned for its user-friendly interface and innovative features.
Moreover, with eToro, traders can speculate and trade oil through Contracts for Difference (CFDs), providing access to popular oil assets such as Crude Oil (WTI and Brent), Heating Oil, and Gasoline. Through eToro‘s intuitive platform, traders can easily capitalize on oil price movements, whether they’re looking to buy or sell.
One of eToro’s standout features is its social trading functionality, allowing users to interact, share insights, and even copy the trades of successful investors.
This feature enables beginners to learn from experienced traders while offering seasoned investors opportunities for collaboration and knowledge sharing.
Additionally, eToro provides a wide range of educational resources, including market analysis, webinars, and tutorials, empowering traders to make informed decisions in the oil market and beyond.
eToro Features
📝 Regulation CySEC, FCA
📱 Social Media Platforms Facebook, Twitter, LinkedIn, YouTube, Instagram, Telegram
🔎 Trading Accounts Personal Account, Professional Account, Corporate Account, Islamic Account
💻 Trading Platforms eToro proprietary platform
💸 Minimum Deposit $50
🔁 Trading Assets Stocks, Indices, ETFs, Currencies, Commodities, Cryptoassets
🚀 USD-based Account? Yes
💳 USD Deposits Allowed? Yes
💰 Bonuses for traders? Yes
📊 Minimum spread From 0.9 pips
✔️ Demo Account Yes
✔️ Islamic Account Yes
🎖 Open an Account Open Account
*51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Using eToro's cutting-edge social trading platform, new investors may quickly learn from experienced traders and even improve their tactics by seeing and duplicating successful investors' transactions. | Although eToro offers certain basic research tools, such as news updates and market analysis, it may have fewer resources than other platforms, limiting advanced traders' capacity to conduct in-depth assessments. |
| eToro offers a wide range of trading instruments, allowing traders to diversify their portfolios on a single platform by selecting equities, cryptocurrencies, commodities, and currency pairs. | eToro's cost structure includes spreads and overnight fees, which may be higher than those provided by other brokers. In addition, withdrawal and inactivity fees may apply in certain circumstances. |
| eToro's user-friendly design and straightforward platform make it appropriate for traders of all skill levels, including newbies. | Compared to traditional trading platforms, social trading gives traders less control over their trades, while it can have some advantages. Users may rely heavily on the decisions of other traders, resulting in either wins or losses. |
| The platform's research capabilities and powerful charting features enhance trading even more. | Because eToro is governed by various national laws, a user's location may limit access to specific features and products. Changes in rules or compliance standards have the potential to impact the platform's operations and products. |
| CopyPortfolios are different investment portfolios that are skillfully managed and conveniently accessible through eToro. This technology allows users to invest in an asset portfolio with a single click, making portfolio administration easier and saving time. |
Trust Score
✅ eToro has a trust score of 90%
6. AvaTrade
Overall, AvaTrade stands as a prominent Forex broker recognized for its comprehensive trading services and commitment to client satisfaction.
Alongside its Forex offerings, AvaTrade provides robust oil trading opportunities, enabling clients to participate in the dynamic energy markets.
Traders can access various oil-related assets, including Crude Oil (WTI and Brent), Heating Oil, and Gasoline, through AvaTrade‘s user-friendly platforms.
AvaTrade distinguishes itself through its competitive trading conditions, offering tight spreads, flexible leverage options, and reliable execution speeds.
Moreover, the broker provides advanced trading tools, including charting software and technical analysis resources, empowering traders to make informed decisions in the oil market.
With a strong emphasis on security, transparency, and customer support, AvaTrade caters to the needs of both novice and experienced traders, facilitating a seamless trading experience in the Forex and oil markets alike.
AvaTrade Features
📝 Regulation Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA
📱 Social Media Platforms Instagram, Facebook, Twitter, YouTube
🔎 Trading Accounts Retail Account, Professional Account
💻 Trading Platforms AvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade
💸 Minimum Deposit $100
🔁 Trading Assets Forex, Stocks, Commodities, Cryptocurrencies, Treasuries, Bonds, Indices, Exchange-Traded Funds (ETFs), Options, Contracts for Difference (CFDs), Precious Metals
🚀 USD-based Account? Yes
💳 USD Deposits Allowed? Yes
💰 Bonuses for traders? Yes
📊 Minimum spread From 0.0 pips
✔️ Demo Account Yes
✔️ Islamic Account Yes
🎖 Open an Account Open Account
Pros and Cons
| ✔️ Pros | ❌ Cons |
| AvaTrade creates an environment conducive to profitable trading. | Currently, variable spreads are not offered |
| Demo and Islamic accounts are both available. Since its inception, AvaTrade has won numerous honours and built a solid reputation. | Only two types of retail trading accounts are available |
| There are around 1,250 tradable assets available in financial markets. | Dormant accounts incur an inactivity fee |
| AvaTrade offers skilled traders the necessary trading instruments they require. | |
| A variety of complex and novel trading strategies are available for investigation. |
Trust Score
✅ AvaTrade has a high trust score of 96%
Conclusion
Overall, navigating the realm of oil trading necessitates finding a broker that combines competitive pricing, diverse asset offerings, and reliable platforms. Each broker, whether it’s Axi, IG, Exness, eToro, or AvaTrade, offers unique features tailored to meet the varied needs of traders in the oil market.
Faq
The price of oil is influenced by various factors, including global supply and demand dynamics, geopolitical tensions, economic data, currency fluctuations, and production decisions by major oil-producing countries like OPEC and non-OPEC nations.
You can trade or speculate on the price of oil through Contracts for Difference (CFDs) offered by brokers. CFDs allow you to speculate on oil price movements without owning the underlying asset. Simply open a trading account with a broker offering oil CFDs, analyze the market, and place your trades accordingly.
Oil trading carries inherent risks, including price volatility, geopolitical uncertainties, sudden supply disruptions, and macroeconomic factors. Additionally, leverage utilized in trading can amplify both potential gains and losses, so it’s crucial to manage risk effectively through proper risk management strategies like stop-loss orders.
Oil markets typically operate 24 hours a day, five days a week, allowing traders to access the market during various sessions worldwide. However, specific trading hours may vary depending on the exchange or trading platform used, so it’s essential to check the trading hours provided by your broker.
To stay informed about oil market developments, you can utilize various resources such as financial news websites, market analysis reports, broker-provided research, and economic calendars. Additionally, following reputable financial analysts and organizations on social media platforms and participating in trading forums can provide valuable insights into oil market trends and events.
| Broker | Website | |
|---|---|---|
| 🥇 |  | Visit Broker |
| 🥈 | | Visit Broker |
| 🥉 | | Visit Broker |
| 4 | | Visit Broker |
| 5 | | Visit Broker |
| 6 | | Visit Broker |
| 7 | | Visit Broker |
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