Best Agricultural Commodity Brokers of 2024
Written by BrokerNotes.co
March 14, 2024
Agricultural Commodities Trading
Here are the best brokers for trading agricultural commodities.
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| Minimum Deposit | £250.00 |
| Tier-1 Licenses | 8 |
| Tradeable Symbols (Total) | 19537 |
Year after year, IG has shown itself to be the best broker in the forex industry and a fantastic choice for forex traders. Highly trusted and regulated across the globe, IG delivers a wide variety of rich features, market research, and powerful trading tools. IG also offers seamless integration of trading signals into its web platform. Read full review
| Apple iOS App | Yes |
| Android App | No |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| Minimum Deposit | $0 |
| Tier-1 Licenses | 9 |
| Tradeable Symbols (Total) | 8500 |
Interactive Brokers is a highly trusted broker regulated across the globe that delivers access to over 100 markets, including forex and CFDs. Its Trader Workstation (TWS) platform offers a variety of advanced trading tools for experienced traders, and IBKR's web-based platform is great for beginner forex traders. Read full review
| Apple iOS App | Yes |
| Android App | No |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | No |
| MetaTrader 5 (MT5) | No |
| Minimum Deposit | $0 |
| Tier-1 Licenses | 7 |
| Tradeable Symbols (Total) | 70000 |
Saxo is a highly trusted broker that operates multiple banks and is regulated across the globe. Saxo delivers an incredible cross-platform experience alongside powerful research and a vast selection of more than 60,000 symbols across multiple asset classes. It’s worth noting that minimum deposits at Saxo are steep. Read full review
| Apple iOS App | Yes |
| Android App | No |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | No |
| MetaTrader 5 (MT5) | No |
| Minimum Deposit | $0 |
| Tier-1 Licenses | 5 |
| Tradeable Symbols (Total) | 11925 |
CMC Markets is a highly trusted multi-asset broker regulated in multiple Tier-1 jurisdictions. CMC's powerful Next Generation trading platform for web and mobile delivers a huge selection of markets and a fantastic user experience. CMC Markets also ranks highly for its high-quality research and educational content. Read full review
| Apple iOS App | Yes |
| Android App | No |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| Minimum Deposit | $100 |
| Tier-1 Licenses | 7 |
| Tradeable Symbols (Total) | 5500 |
FOREX.com is a highly trusted brand with a long history of offering forex in the U.S. and across the globe. FOREX.com offers its own flagship trading platforms for web and desktop, as well as the full MetaTrader suite. Though its pricing is higher than average, FOREX.com is a balanced choice for traders of all experience levels. Read full review
| Apple iOS App | Yes |
| Android App | No |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| Minimum Deposit | £100.00 |
| Tier-1 Licenses | 7 |
| Tradeable Symbols (Total) | 13500 |
City Index, part of StoneX Group, is an award-winning, highly trusted broker with a long history of offering forex and CFDs across its global offices. City Index delivers a well-designed mobile trading app and a powerful web platform, as well as a large range of tradeable markets (though pricing is just average). Read full review
| Apple iOS App | Yes |
| Android App | No |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| Minimum Deposit | $0 |
| Tier-1 Licenses | 2 |
| Tradeable Symbols (Total) | 6200 |
XTB is a highly trusted brand with a proprietary platform (xStation 5) that delivers a rich selection of trading tools. XTB also offers CFDs for a wide range of asset classes, including multiple cryptocurrencies. Beginners will appreciate XTB's excellent educational content and the hundreds of lessons that are available via its Trading Academy. Read full review
| Apple iOS App | Yes |
| Android App | No |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | No |
| MetaTrader 5 (MT5) | No |
| Minimum Deposit | $50-$10,000 |
| Tier-1 Licenses | 3 |
| Tradeable Symbols (Total) | 5461 |
Best known for its copy trading platform suite, eToro is a highly trusted broker offering a large selection of cryptocurrency products, CFDs, shares, forex pairs, and a wide range of powerful trading tools. It’s worth noting that eToro is not a discount broker (though it offers zero-dollar commissions for U.S. stocks). Read full review
| Apple iOS App | Yes |
| Android App | No |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | No |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | No |
| MetaTrader 5 (MT5) | No |
| Minimum Deposit | $20 |
| Tier-1 Licenses | 3 |
| Tradeable Symbols (Total) | 3007 |
Capital.com delivers an innovative trading platform, powerful market research, and an impressive range of educational content. Capital.com also offers a growing number of tradeable markets, and the broker's competitive pricing puts it in the same category as the best low-cost forex brokers. Read full review
| Apple iOS App | Yes |
| Android App | No |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
History of Agricultural Commodities
The trading of agricultural commodities dates back to 8,500 BC when an agricultural revolution led to the trading of agricultural products between different settlements. The futures market for agricultural products developed during this period due to the fact that price changes were affecting the profitability of businesses and sellers searched for ways to earn while they waited for a suitable buyer. In addition, traders had to find suitable storage solutions for their stock, which could be costly.
The very first agricultural futures traded was rice as far back as the 17th century in Japan.
However, there are some conflicting views on whether that was actually the first time that futures trading occurred. In the 1800s, farmers found that their perishable items would rot or lose quality the longer they had to be stored. At the same time, price changes would eat into any expected profitability. This led to the creation of the first forward contract whereby the price was determined beforehand and the buyer was allowed to make payment before receiving the goods.
The proliferation of forward contracts led to the first American Exchange, called the Chicago Board of Trade (CBOT) which was established in Chicago in the year 1848. This body standardised the entire process and gave rise to standard futures contracts. The trading of agricultural commodities eventually gave rise to the trading of precious metals and financial futures. The S&P 500 and other indices were included among tradable futures in the 1980s and 1990s. Some of the top commodity exchanges in the world are as follows:
Top Agricultural commodity exchanges in the world are as follows:
- The Chicago Mercantile Exchange (CME) Headquartered in Chicago and offers a range of contracts apart from commodity contracts.
- Intercontinental Exchange Inc. (ICE) USA based exchange.
- Multi Commodity Exchange (MCX) Based in Mumbai, India.
- Dalian Commodity Exchange (DCE - based in China and founded in 1993.
- Shanghai Futures Exchange (SFE) based in Shanghai, China. The only agricultural commodity currently traded on this exchange is natural rubber.
- Nasdaq Commodities OMX - based in New York. Seafood is the only agricultural commodity traded on this exchange.
- BMF Bovespa - based in Sao Paulo, Brazil. This exchange trades a wide range of agricultural commodities.
BrokerNotes.co 2024 Overall Rankings
To recap, here are our top forex brokers for 2024, sorted by Overall ranking.
| Company | Overall Rating | Minimum Deposit | Average Spread EUR/USD - Standard | Trust Score | Tradeable Symbols (Total) | Read Review |
|
IG
|
9.9 | £250.00 | 0.98 | 99 | 19537 | IG Review |
|
Interactive Brokers
|
9.9 | $0 | 0.59 | 99 | 8500 | Interactive Brokers Review |
|
Saxo
|
9.7 | $0 | 1.1 | 99 | 70000 | Saxo Review |
|
CMC Markets
|
9.6 | $0 | 0.61 | 99 | 11925 | CMC Markets Review |
|
FOREX.com
|
9.4 | $100 | 1.4 | 99 | 5500 | FOREX.com Review |
 Charles Schwab
|
9.3 | $0 | 1.35 | 99 | 40000 | Charles Schwab Review |
|
City Index
|
9.3 | £100.00 | 1.4 | 99 | 13500 | City Index Review |
|
XTB
|
9.1 | $0 | 1.00 | 96 | 6200 | XTB Group Review |
|
eToro
|
8.9 | $50-$10,000 | 1 | 93 | 5461 | eToro Review |
|
Capital.com
|
8.7 | $20 | 0.67 | 87 | 3007 | Capital.com Review |
 Swissquote
|
8.7 | $1000 | N/A | 99 | 472 | Swissquote Review |
 AvaTrade
|
8.7 | $100 | 0.93 | 94 | 1260 | AvaTrade Review |
 OANDA
|
8.6 | $0 | 1.61 | 93 | 3928 | OANDA Review |
 Plus500
|
8.6 | €100 | 1.5 | 99 | 5500 | Plus500 Review |
 FXCM
|
8.6 | Starts from $50 | 0.78 | 95 | 440 | FXCM Review |
 Pepperstone
|
8.5 | $0 | 1.00 | 95 | 1726 | Pepperstone Review |
 XM Group
|
8.5 | $5 | 1.6 | 88 | 1394 | XM Group Review |
 Admirals
|
8.5 | $100 | 0.8 | 93 | 8702 | Admiral Markets Review |
 FP Markets
|
8.3 | $100 AUD | 1.1 | 87 | 10000 | FP Markets Review |
 Tickmill
|
8.2 | $100 | 0.51 | 86 | 725 | Tickmill Review |
 IC Markets
|
8.2 | $200 | 0.62 | 84 | 3583 | IC Markets Review |
 FxPro
|
8.1 | $100 | 1.51 | 90 | 2249 | FxPro Review |
 Markets.com
|
8.1 | $100 | 1.9 | 93 | 2179 | Markets.com Review |
 FinecoBank
|
8.0 | $0 | N/A | 94 | 9770 | Fineco Bank Review |
 BlackBull Markets
|
8.0 | $0 | 0.76 | 78 | 26000 | BlackBull Markets Review |
 Vantage
|
8.0 | $50 | 1.30 | 90 | 1000 | Vantage Review |
 ThinkMarkets
|
7.9 | $50 | 1.1 | 92 | 4000 | ThinkMarkets Review |
 HYCM (Henyep Capital Markets)
|
7.8 | $20 | 1.2 | 86 | 1199 | HYCM Review |
 HFM
|
7.8 | $0 | 1.2 | 86 | 500 | HFM Review |
 DooPrime
|
7.8 | $100 | N/A | 83 | 10000 | DooPrime Review |
 Questrade
|
7.8 | $250 | N/A | 86 | 641 | |
 ActivTrades
|
7.7 | 0 | 0.98 | 81 | 1267 | |
 Trading 212
|
7.7 | €10 | 1.9 | 79 | 8025 | Trading 212 Review |
 BDSwiss
|
7.7 | $10-$5000 | 1.6 | 76 | 1081 | BDSwiss Review |
 Trade Nation
|
7.7 | $0 | 0.6 | 85 | 1000 | Trade Nation Review |
 TMGM
|
7.6 | $100 | N/A | 83 | 12000 | TMGM Review |
 Eightcap
|
7.6 | $100 | 1.0 | 85 | 736 | Eightcap Review |
 Moneta Markets
|
7.5 | $50 | 1.38 | 72 | 1016 | Moneta Markets Review |
 Spreadex
|
7.5 | $0 | 0.81 | 71 | 10000 | Spreadex Review |
 MultiBank
|
7.5 | $50 | N/A | 84 | 1042 | MultiBank Review |
 Exness
|
7.4 | $10 | N/A | 81 | 227 | Exness Review |
 ACY Securities
|
7.4 | $50 | 1.2 | 75 | 2200 | ACY Securities Review |
 easyMarkets
|
7.3 | $50 | 0.8 | 80 | 230 | easyMarkets Review |
 RoboForex
|
7.3 | $100 | 1.3 | 73 | 8400 | Roboforex (RoboMarkets) Review |
 VT Markets
|
7.3 | $100 | 1.2 | 70 | 1000 | VT Markets Review |
 Octa
|
7.2 | $25 | 0.9 | 70 | 277 | OctaFX Review |
 IronFX
|
7.2 | $50 | 1.2 | 83 | 340 | IronFX Review |
 IFC Markets
|
7.2 | $1 | 1.44 | 73 | 630 | IFC Markets Review |
 Trade360
|
7.2 | $250 | N/A | 76 | 1062 | Trade360 Review |
 Axi
|
7.1 | $0 | N/A | 82 | 175 | Axitrader Review |
 TeleTrade
|
7.1 | $100 | N/A | 71 | 500 | Teletrade Review |
 iFOREX
|
7.0 | $100 | N/A | 75 | 750 | iFOREX Review |
 FXOpen
|
7 | $100 | N/A | 76 | 87 | FXOpen Review |
 FXPrimus
|
7.0 | $100 | N/A | 71 | 140 | FXPrimus Review |
 Xtrade
|
6.9 | $250 | N/A | 74 | 482 | Xtrade Review |
 Forex4you
|
6.8 | $0 | N/A | 61 | 150 | Forex4you Review |
 GBE brokers
|
6.8 | $500 | N/A | 71 | 500 | GBE Brokers Review |
 Alpari
|
6.8 | $20 | N/A | 68 | 105 | Alpari Review |
 TopFX
|
6.7 | Depends on payment method | 1.03 | 67 | 655 | TopFX Review |
 Libertex (Forex Club)
|
6.7 | $10 | N/A | 73 | 300 | Libertex Review |
 LegacyFX
|
6.7 | $500 | N/A | 67 | 425 | LegacyFX Review |
 FXGT.com
|
6.6 | $5 | N/A | 69 | 117 | FXGT Review |
 ATFX
|
6.5 | $500 | N/A | 85 | 150 | ATFX Review |
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