FROM OUR PARTNERS

Best Crude Oil Trading Brokers of 2022

Ashley Jackson

Trade in the commodities market and set yourself up for success by selecting a broker that understands your needs. We’ve considered the best online brokers based on commissions, account minimums, ease of use, and overall quality.

Trade a wide range of financial assets

$0 - $9.95

Fee Per Trade

$0

Account Minimum

Overview

Ally Invest offers competitive pricing on financial securities and robust research tools to help you make better-informed investment decisions.

What we like

  • Low cost commissions 
  • Wide selection of product offerings 
  • Up to $3,000 cash bonus
  • No minimum deposit required
  • Up to $75 for brokerage transfers

What we don't

  • Crypto not supported
  • Mutual fund fees

Get up to $625 when you open and fund an account

$0

Fee Per Trade

$0

Account Minimum

Overview

J.P. Morgan Self-Directed Investing offers beginners and seasoned investors free trades and a portfolio tool to help build out their asset allocation.

What we like

  • Unlimited trades with $0 commissions
  • No minimum investment
  • Manage investments from a mobile app
  • Portfolio builder tool to help with asset allocation
  • Access to research and insights

What we don't

  • Limited accounts, such as no SEP-IRA
  • No fractional share trading

INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE

Copy investments from successful traders

$0

Fee Per Trade

$0

Account Minimum

Overview

eToro is a multi-asset platform that offers both investing in stocks, cryptocurrencies, and trading in CDF assets. It provides an innovative approach to ‘Social Trading,’ also known as ‘Copy Trading.’ Social trading allows users to connect, share their trades, and copy successful traders’ trades for potential gains.

What we like

  • Commission-free real stock trading
  • Offers money and risk management tools
  • A lot of learning materials available
  • Offers a free demo account
  • Copy successful traders investments

What we don't

  • Higher spreads and rollover fees
  • High non-trading fees

Discover new ideas from an active investing community

$0

Fee Per Trade

$0

Account Minimum

Overview

Public provides access to a powerful suite of tools, daily insights from millions of investors, and curated content and news, so all members can have the tools and resources needed to invest with context.

What we like

  • All-in-one investing platform 
  • Wide selection of product offerings 
  • Commission-free
  • Insights from an investing community of millions
  • Invest in any fractional asset
  • Live in-app shows about the markets

What we don't

  • Limited account types
  • No in-person customer support

Margin trading available with premium account

$0 - $9.95

Fee Per Trade

$0

Account Minimum

Overview

Axos Self-Directed Trading provides investors commission-free trades and an all-in-one solution for banking and investments.

What we like

  • Commission free trading on most assets 
  • Easy to use platform
  • Wide selection of product offerings 
  • No minimum deposit required
  • Extended market hours for premium accounts
  • Joint accounts available

What we don't

  • Crypto not supported
  • Premium account required for certain features
  • No in-person customer support

Offers fractional share trading

$0

Fee Per Trade

$0

Account Minimum

Overview

SoFi allows you to trade cryptocurrencies, stocks, and ETFs. It also uses the SIPC protection scheme and offers up to $500,000 in insurance coverage.

What we like

  • Free trading on ETFs and stocks
  • Offers fractional shares
  • A wide variety of cryptocurrencies
  • Free financial advice
  • No account minimum

What we don't

  • Does not offer mutual funds, bonds and options
  • Limited track record

Why use crude oil trading brokers?

Here are some of the reasons why you should choose a crude oil trading broker:

  • Access to MT4 and MT5: You can use the platform that suits your needs best, whether Metatrader 4 or Metatrader 5, at no extra cost. This allows you maximum flexibility in terms of which platform will work best for you, whether you are more familiar with one or because one offers more features than the other.
  • Analysis and news: Trading news and analysis help traders understand how various factors affect the price of crude oil and how they can profit from these movements.
  • Education: To trade effectively, it is essential that you know the market well and understands how it works. A trading broker will teach you about technical analysis, futures contracts, and other essential topics. You can also talk to them about your trading goals and ask for advice on how to meet them successfully.
  • Wide range of assets to trade with: Another benefit of using crude oil trading brokers is that they have access to a wide range of assets for their clients to trade with. These include commodities such as gold and silver as well as stocks from various companies. These assets make it easy for traders to diversify their portfolios by adding them into their portfolios alongside other assets.

Are crude oil trading brokers safe?

Brokerage accounts are safe. You can keep your money safe by choosing a broker who offers the best security options and keeps your account information confidential.

What are the fees for crude oil trading brokers?

Commissions for crude oil trading vary by broker and depend on your trade size and whether it’s being placed online or over the phone. Online brokers typically charge lower commissions than those who offer only telephone services.

The average commission for crude oil traders is $2.25 per contract plus exchange and regulatory fees.

What ETFs can you invest in through crude oil trading brokers?

 In oil trading, traders can use many different types of ETFs in their portfolios. Here are some of the most popular:

  • United States Brent Oil Fund (BNO): BNO is a physically-backed ETF that tracks West Texas Intermediate (WTI) crude oil price movements.
  • United States Oil Fund LP (USO): This ETF tracks oil prices based on West Texas Intermediate crude oil prices. It is one of the most popular ETFs in this category. It does not invest directly in oil futures contracts. Instead, it invests in notes issued by Deutsche Bank AG and UBS AG.
  • iPath Pure Beta Crude Oil ETN (OIL): This fund tracks the Bloomberg WTI Crude Oil Subindex return.

Benefits of Investing in ETFs through crude oil trading brokers

The benefits of investing in ETFs through crude oil trading brokers include:

  • Flexibility: You can buy or sell anytime during trading hours, and you can do it anywhere worldwide.
  • Monitoring: Another benefit of using a broker is constant monitoring. When you make trades using a broker, you will know any changes in price or volume that could affect your portfolio.
  • Liquidity: ETFs are highly liquid investments. Most brokerage firms offer their clients an online platform where they can buy, sell or trade their shares anytime they want without paying any commissions or fees on these transactions.
  • Easy to diversify: ETFs are easy to diversify because they cover a wide range of assets such as stocks and bonds. Investors can easily diversify their portfolios by investing in an ETF that covers a specific sector or industry. For example, if you want to invest in the technology sector, you can buy a technology ETF that tracks companies involved in this business.

How to choose the best crude oil trading brokers

Here are some of the factors to consider when choosing an oil broker:

  • Regulation: Regulation is one of the most important aspects when choosing an oil trader. If your broker does not have a license from a reputable regulator, then it may be hard for you to trust their services. Make sure your broker complies with all relevant laws and regulations to feel confident about investing with them.
  • Tight spreads: You want to find one with tight spreads so that you can minimize your costs when trading.
  • Oil trading account types: There are different types of accounts offered by various brokers. Some only offer standard accounts, while others offer both standard and margin accounts. If you plan on using leverage to borrow money, then your broker must provide margin accounts so you can use this feature for your trades.
  • Software: Find out which software they offer to traders, as this will help you determine whether they have everything you need or not. Some brokers provide their software, while others use third-party software such as Bloomberg Terminal or Reuters for Trading.
  • Commissions: You should also consider how much each broker charges in commission fees when making trades, as this can significantly reduce your profits when trading over time if you’re not careful.