Platinum is a white-colored and heavy precious metal that was officially discovered in the 18th century, and today, manufacturers prominently use it in jewellery, catalytic converters, and electronics. The metal is also used in dentistry, electrodes, laboratory equipment, and thermometers, among others. As with the other precious metals, platinum is also highly unreactive, and when compared to gold, it finds more applications because it is more durable and denser.
The silver-white metal is among the most valuable elements and among the highest-priced metals on a global scale. In 2021, the total mine production of platinum amounted to approximately 180 metric tons, while figures show that the global demand for the malleable, dense, silver-white metal was 7.38 million ounces. Just for comparison, back in 2021, the worldwide gold production was 3,000 metric tons, while the estimated global production of silver was 24,000 metric tons.
Much like the price of palladium, the price of platinum goes up during periods of economic growth and stability and starts moving in the opposite direction during periods of uncertainty. Figures show that following the global financial crisis of 2007-2008, metals like silver, gold, and palladium perform much better than platinum.
Platinum is categorized as a precious metal and not a base metal, and these days, an increasing number of people go for the opportunity to invest in it. Considering how appealing platinum trading has become for traders, it makes sense that the number of brokers that offer these opportunities is heavily on the rise.
How Platinum Trading Works for Traders and Brokers
There are a few ways in which you can trade platinum, and there are several factors you should consider when picking the instrument you will start using.
- Platinum coins and bars – purchasing platinum coins and bars is one of the ways to go when traders want to invest in the precious metal directly. Yet, what might be an issue for some traders is that the coins and bars should be stored and insured.
- ETFs – exchange-traded funds or ETFs give traders the chance to get exposure to precious metals like platinum, silver, gold, and palladium. Just like with stocks, the financial instruments will be traded as shares. Some of the most popular platinum ETFs include physical platinum shares, spot physical platinum and palladium trust, and physical precious metals basket shares.
- Platinum mining companies shares – the publicly traded companies that have exposure to platinum prices are thick on the ground, and, best of all, most such companies have exposure to other precious metals as well.
- Platinum futures – futures contracts are the derivatives with the longest history when compared to all other products that are traded on the exchange. When going for this opportunity, traders buy contracts that are tied to the platinum price using leverage. Traders should keep in mind that when investing in the futures market, they will be required to actively maintain their positions, and if prices go downwards, they will need to put up an extra margin. Future contracts have an expiration date, and each month, traders should decide if they want to accept delivery or roll them forward.
- Platinum options – they also have a date of expiry, but the requirement platinum options should meet in order to be successful is to reach a predetermined price prior to the termination date. Therefore, traders will only benefit from options, provided that they accurately determine the direction and size of the movement of the platinum price.
- Platinum CFDs – When CFDs are concerned, traders attempt to make the most out of the up and down price movements while taking advantage of the added leverage such contracts offer. What traders should keep in mind about CFDs is that, ultimately, their financial exposure might be greater than the amount they have deposited.
Going for platinum CFDs means that traders can get exposure to the precious metal price without managing options or futures or physically buying the asset and then looking for a place where they can keep them securely.
Causes for the Price Movement of Platinum
Trading platinum is becoming an appealing option for more and more traders, and for a reason. The precious metal offers relative stability, and like palladium, it is used as a tracker of global growth. Additionally, it responds to trends in the automobile industry and is used as a hedge against downturns. Last but not least, it is a low-risk entry.
As is the case with other products in the commodity world, the supply and demand are among the determining factors that influence the platinum price. The precious metal is mined mainly in Africa, and political and economic changes or disrupted supply changes can affect supply, which will result in an increase in the price.
As we explained earlier, car manufacturing and jewelry are the two more main industries that rely on platinum. Therefore, the trading price of platinum will move up or down if major changes occur in any of these industries.
Platinum Trading Brokers
One of the most challenging decisions traders need to make is picking the right online broker. With a long and constantly growing list of platinum trading brokers, finding a reliable platform that offers competitive pricing and the features traders are looking for might be somewhat daunting. To make things easier for traders, we dug deep to assess all the important features premium-quality platinum trading platforms should have.
- 1. AvaTradeMin Deposit$100Fees
CommissionsDoes not charge a commissionSpread$1.10 over the marketLeverage EU10:1Leverage non-EU50:1CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- $50 inactivity fee
- $100 administration fee
- No deposit and withdrawal fees
AvaTrade is a heavily regulated and licensed online broker that set up its operations in 2006. While using the broker’s services, traders can be confident that it is well-established and reliable and its licenses prove this. AvaTrade is authorized by the Cyprus Securities and Exchange Commission, Australian Securities and Investments Commission, Financial Services Agency, and the Financial Regulatory Services Authority, to name a few. The website is available in more than 20 languages, which also goes to show the broker’s commitment to expanding its footprint.
AvaTrade has gathered all instruments traders might be keen on in one place, and cryptocurrencies, indices, Forex, and commodities are all offered. If traders are looking to diversify their portfolios by trading precious metals, they can go for silver, gold, platinum, palladium, and copper. At AvaTrade, you will have the chance to make bigger trades with leverage of 10:1 and trade whichever way the market will go, no matter the time or the place using the intuitive dedicated app.
The broker does not stop expanding its offerings, and in order to provide its users with an enhanced trading experience, AvaTrade relies on cutting-edge technology and progressive trading types. As an AvaTrade client, you will be given a choice of several automated and manual trading platforms.
The educational section is quite vast, and total novices to platinum trading are sure to find lots of useful information, thanks to the videos that will provide them with information about the commodities trading principles. Still, if any questions arise at some point during their session, traders should get in touch with the customer support hosts via email, over the phone, or through the live chat.
- 2. IQ OptionMin Deposit$10Fees
CommissionsA fee of 2.9% of the transaction for opening cryptocurrency long positionSpread0.036%Leverage EU10:1Leverage non-EU100:1The Financial Products offered by the company include Contracts for Difference ('CFDs') and other complex financial products. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, CFDs may not be suitable for all investors because it is possible to lose all of your invested capital. You should never invest money that you cannot afford to lose. Before trading in the complex financial products offered, please ensure to understand the risks involved.
- Deposits and withdrawals are fee-free, the only exception are withdrawals executed through wire transfer as a fee of USD30 will be charged
- €10 inactivity fee
IQ Option is a platinum trading broker that has successfully adapted to the constantly-changing online brokerage landscape, and its growing number of users goes to prove this. Since its foundation in 2013, IQ Option has not slowed pace, and back in 2020, its services reached a pan-European level as the broker accommodated users from more than 30 countries.
IQ Option offers a product roster that is sure to meet the requirements of all traders, no matter their experience level and goals. Stocks, ETFs, stocks, cryptocurrencies, and commodities are all accessible on the simple and secure trading platform. What traders might be happy to hear is that when they join the community of IQ Option, they can make use of a demo account with €10,000.
In order to ensure that its users will enjoy a premium-quality trading experience, back in 2016, the broker switched to a quick cash-out system, thanks to which withdrawals are processed in the blink of an eye. Deposits are also worry-free and take no time at all, and some of the funding options traders can use include WebMoney, Skrill, Maestro, Mastercard, Visa, and Neteller.
The around-the-clock customer support is yet another noteworthy feature of the broker, and traders are sure to get the requested information as they can pick from 22 languages to get assistance in.
- 3. XM GroupMin Deposit
FeesNo deposit or withdrawal feesCommissions$7 for $100,000 when zero account holders open or close a position. The commission is based on the volume tradedSpread4.25 minimum spreadLeverage EU10:1Leverage non-EU100:1Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure.
- $5 for standard, micro, and ultra low accounts
- $10,000 for shares accounts
There is a reason why more than 5 million people have picked XM for their trading experience, and the globally renowned broker is undoubtedly worth considering as an option when trading platinum is what you prefer.
By joining the community of XM, traders will not only get access to Forex and CFD trading but they will also benefit from free daily technical analysis, daily access to Forex trading signals, unlimited access to video tutorials, and a personal account manager, among others. The broker does not underperform in terms of the variety of instruments its users can decide between, and options like Forex, stocks, equity indices, shares, energies, and commodities are all within reach.
When the precious market is concerned, traders can go for platinum, palladium, silver, and gold, among others. XM users can access the global markets they prefer in no time and on the device they prefer with the MT4 and MT5 trading platforms.
The broker makes trading easier and more efficient for its users as they can access all trading instruments using the same account and from a single multi-asset platform. XM offers ease of use and convenience, and all its systems are built and updated following a customer-first approach. At XM, the client comes first, and in order to ensure that traders will be offered services that fit them like a glove, the broker allows them to select from three account types, including micro, standard, and zero.
While using the services of XM, traders can have the full confidence that there will be no hidden terms and that they are using the services of a trustworthy broker that is fully licensed and regulated.
- 4. FBSMin Deposit$1, $5, $100, $500, or $1,000 depending on the chosen account typeFeesDeposits and withdrawals are fee-freeCommissions
Spread16 typical spreadLeverage EU10:1Leverage non-EU300:1Risk warning: ᏟᖴᎠs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.5% of retail investor accounts lose money when trading ᏟᖴᎠs with this provider. You should consider whether you understand how ᏟᖴᎠs work and whether you can afford to take the high risk of losing your money.
- 0.7 for US stocks when opening an order
- A commission is also charged when trading cryptocurrencies
FBS is a broker that caters to an internal user base that wins the hearts of traders with its premium trading conditions. FBS is a reliable and a secure broker, and the fact that the number of its users is already well above 17,000,000 proves beyond doubt that the services it offers are up to the standard.
The broker was established in 2009, and today, its users will access some of the most chosen markets, including energies, Forex, cryptocurrencies, stocks, and metals, platinum included. In order to meet the requirements of all its users, the broker gives them a choice of multiple account types, including cent, micro, standard, zero spread, ECN, and crypto, and benefit from the different spread, minimum deposit amounts, maximum leverage, order volume, and others.
As an FBS user, you will benefit from cutting-edge trading tools and features that make controlling your account a walk in the park. FBS users can take advantage of several convenient, reliable, and functional trading platforms, including MetaTrader4, MetaTrader5, and the recently added FBS Trader. The latter is an all-in-one trading app, thanks to which traders can keep some of the world’s most preferred instruments in the palm of their hand. It offers easy management real-time stats, and top trading instruments for platinum traders to enjoy anytime and anywhere.
There are many reasons why FBS is a smart choice, and many traders prefer it when they want to trade platinum because of its reliability as the broker is authorized by the CySEC.
- 5. PepperstoneMin Deposit$200 or the currency equivalentFeesN/ACommissions
Spread4.94Leverage EU10:1Leverage non-EU100:1CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.9% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
- USD 0.04 per 0.01 lots for MT5 Razor accounts and MT4 Razor accounts
- cTrader commissions are charged as $6 USD round-turn
Offering a bevy of trading platforms and competitive spreads, Pepperstone is one more broker that facilitates platinum trading. It stands out as a full-featured trading portal where you can gain exposure to Forex, indices, shares, ETFs, cryptocurrencies, currency indices, and commodities. Trading platinum, palladium, copper, gold, and silver is possible, along with trading soft commodities and energies.
In order for traders to dive into trading platinum or any other commodity, they should first load their accounts with at least $200. The funding and withdrawal methods include Mastercard, Visa, and bank transfer, and they all guarantee that traders will execute their payments to and from Pepperstone securely, safely, and without much ado.
To ensure that the offered services will fulfill the requirements of novice and seasoned traders alike and they will find the account type that is right for them, the broker allows them to go for standard and razor accounts. Pepperstone has seen to it that its users will have the freedom to trade platinum or get exposure to any market they prefer, no matter the time or the place, as the platforms are available on Mac and Windows, as well as iOS and Android-run devices.
MetaTrader4, MetaTrader5, and cTrader will give traders quick access to all 150 instruments, customizable charting, indicators, historical data, advanced take-profit/stop-loss levels, and detachable charts for multiple monitors, among others.
Since its foundation in 2010, Pepperstone has evolved into a top-tier broker on the online trading scene, and traders trust it because the broker is authorized and regulated by the Cyprus Securities and Exchange Commission.
- 6. NSBrokerMin Deposit$250Fees
- No deposit fees
- Withdrawals are fee-free, except the ones that are requested through Neteller and Skrill (2,9%)
SpreadFloating from $5,3Leverage EU5:1Leverage non-EU5:1RISK WARNING: Trading in Forex and Contracts for Difference (CFDs), which are leveraged products, is highly speculative and involves substantial risk of loss. It is possible to lose all your capital. Your capital is not guaranteed and may go down as well as up. Therefore, Forex and CFDs may not be suitable for all investors. Only invest with money you can afford to lose. So please ensure that you fully understand the risks involved. Seek independent advice if necessary.
- 0.5% per lot for most precious metals
- $8 per lot for gold, silver, and all major currency pairs
- 0.5% for indices and cryptocurrencies
With 10 years of reliability, NSBroker is a go-to platform for trading precious metals and platinum, in particular. As it seems, what most appeals to traders about the broker is that NSBroker is committed to providing excellent trading conditions, innovative trading tools, and ground-breaking platforms.
NSBroker’s vision is to create an outstanding trading environment for its users, and to achieve this, the broker has covered all assets they might be interested in, including Forex, cryptocurrencies, indices, precious metals, stocks, energy carries, and commodities. The broker is looking to bring its users the best trading experience, and in line with these intentions, allows its users to decide between a real and a demo account.
Trading with NSBroker is possible on MetaTrader5 on desktop, mobile, and web, and traders will benefit from four scaling models, more than 50 technical indicators, 17 display styles, and over 40 graphical objects, among others. No matter if they own an iOS or Android-based device, traders can access all advanced trading and analysis tools anytime and anywhere using the dedicated app.
Traders can have the full confidence that the services the broker offers are compliant with all regulations as NSBroker is authorized and regulated by the Malta Financial Services Authority, French Prudential Supervision and Resolution Authority, Federal Financial Supervisory Authority, and Italian Companies and Exchange Commission, among others.
If NSBroker’s users have questions while trading platinum, they should feel free to address all their queries via live chat, over the phone, via email, or using the contact form.
- 7. Capital.comMin Deposit$20Fees
CommissionsNo commissionSpread1.00Leverage EU10:1Leverage non-EU100:1CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83.45% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- No deposit and withdrawal fees
- No fees for educational materials
- No fees for dynamic charts and indicators
Capital.com is a broker that wants to make trading smarter than ever, and to achieve this, offers cutting-edge platforms that are accessible on desktop devices and on the go. Registering for a CFD account means that traders will access more than 6,000 of the world’s most traded commodities, including platinum, as well as indices, stocks, currencies, and cryptocurrencies.
By joining the community of Capital.com, traders will benefit from lightning-fast execution times, free educational videos, deep market analysis, and research and analytical tools. Traders will have the chance to start trading platinum on the right foot thanks to the great variety of technical indicators, price alerts, client sentiment, and thousands of charts that will all be within reach.
Not to mention that trading platinum at Capital.com will not cost traders the earth as the broker does not charge extra fees on deposits and withdrawals, when traders want to use the real-time quotes, or when they want to access the dynamic charts and indicators. Traders might also be thrilled to hear that the broker does not charge a commission.
Capital.com is worth considering if traders are looking for a broker they can trust as it is authorized and regulated by the Financial Conduct Authority, Australian Securities and Investments Commission, Cyprus Securities and Exchange Commission, and the Financial Services Authority of Seychelles. The broker promises to keep traders’ funds safe, and every deposit they make will be protected by the Investor Compensation Fund. The data protection measures are also up to the level, and traders can be sure that Capital.com is compliant with the PCI Data Security Standards.
- 8. IGMin Deposit
FeesSGD 25 fee if traders have not used their accounts to deal for 24 months or moreCommissions
- No minimum for bank transfers
- $300 for card payments
Spread2 contract spreadLeverage EU10:1Leverage non-EU50:1CFDs are complex instruments. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.
- £3 on UK shares
- No commission on US shares
IG a tightly regulated online trading broker that was founded in 1974 and now stands as an excellent fit for professional traders and such that are making their first steps. The broker’s long-standing operations speak volumes in terms of the quality of services traders will benefit from, and they are offered competitive fees, an extensive catalog, and most importantly, they can rest assured that the broker is trustworthy.
When they access the well-organized and navigable website, traders can instantly add funds to their accounts using their credit card, debit card, or through a bank transfer. As for the range of offerings, the broker offers a world of opportunities as traders can go for indices, Forex, shares, cryptocurrencies, and commodities. The range of commodities you can trade is indeed wide, and you can pick and choose from 27 major markets with no fixed expires. Platinum, palladium, gold, silver, and copper are only some of the metals IG allows its users to trade.
Traders can pick and choose from a variety of platform options, and they can go for an online trading platform, mobile trading platform, and a progressive web app. The platforms are sure to meet the preferences of all traders, and each of these is designed to help them achieve different trading goals.
The broker puts an emphasis on research and education, and IG’s academy can undoubtedly help traders increase their trading success.
- 9. CMC MarketsMin DepositNo minimum deposit requirementFees
- £10 or the equivalent of that amount in another currency
- No deposit and withdrawal fees
Spread10 minimum spreadLeverage EU10:1Leverage non-EU50:1Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
- 0,10% Share CFDs commission for most accepted countries
- 2 cents for unit for the US
CMC Markets is a well-established and highly regarded broker that has been an active player on the online trading scene since 1989. This is a well-trusted broker that operates under licenses issued by the Financial Conduct Authority, Federal Financial Supervisory Authority, and the Monetary Authority of Singapore, among others.
The broker offers a greater than average assortment of products, and cryptocurrencies, Forex, shares, indices, and commodities are only some of the trading opportunities CMC Markets users will have. If commodity trading is what you prefer, you can pick from metals, energies, treasuries, agriculture, commodity indices. CMC Markets keeps you covered no matter the metals you want to trade, as platinum, copper, palladium, gold, and silver are all featured.
No matter which of the thousands of instruments traders will pick, they can have the full confidence that they will be offered competitive pricing as the broker is determined to keep spreads, commissions, and margins as low as possible. The broker gives its users the opportunity to trade the way it suits them most as they can go for CFDs and countdowns.
The user-friendly proprietary platform and apps, and CMC Markets’ Next Generation platform can be easily tailored to live up to the requirements of traders, no matter their experience. The platform gives traders instant access to multiple sources of market news and analysis and offers some unique trading tools like pattern recognition scanner, client sentiment, and multiple layouts, among others.
- 10. HF MarketsMin Deposit
FeesNo fees are charged on depositsCommissions
- $100 for premium accounts
- $200 for zero spread
- €1,000 for strategy providers and €300 for followers for HFCopy accounts
- $500 for Experienced Retail Clients
- $5,000 for Professional Client
Spread8.00Leverage EU10:1Leverage non-EUFloatingRisk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.24% of retail investor accounts lose money when trading CFDs with HF Markets (Europe) Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please read the full Risk Disclosure.
- $0.03 per 1k lot for zero spread accounts
- No commission for premium accounts, HFCopy accounts, and premium pro accounts
HF Markets was established in 2010 with the high hope that the broker would grab the attention of traders from around the globe, and as it seems, the company has achieved this goal since the number of live accounts opened is well above 3,500,000. HF Markets is an award-winning broker that is looking to provide its users with the best possible trading conditions and in order to guarantee their satisfaction, gives them a choice from several account types.
HF Markets is an obvious choice for platinum trading because the broker allows scalping and hedging, offers spreads that start from 0.1, offers transparency, and dedicated customer support that is available in 27 languages. The trading instruments are by no means thin on the ground, and HF Markets accommodates traders that are interested in energies, metals, indices, stocks, Forex, bonds, ETFs, commodities, and physical stocks.
By going for metals trading, traders will expand their portfolios, and will also benefit from low spreads, convenient trading hours, and risk management tools. Those who want to trade on the dynamic precious metals market can go for platinum, palladium, silver, and gold. The available trading tools can be easily described as superior, and HF Markets users can execute trades with the one-click trading feature, access educational materials, and analysis, and benefit from auto transfer, trading calculator, and an economic calendar.
HF Markets is a tightly regulated Forex and CFD broker, and it is authorized by the FCA, DFSA, FSC, and the FSA. Traders have no reason to worry about the safety of their funds as the broker offers a market-leading insurance program, works together with some of the major global banks, and offers the negative balance protection feature, among others.