| Updated: November 5, 2025Our team of expert traders tested numerous regulated and trustworthy brokers for silver trading and compiled a top list of the best among them. Each silver broker received a quality score based on several factors, including its Trustpilot rating, regulation, fees and commissions, available trading platforms, customer service, and more.
Plus500 USThis content applies only to Plus500 US and clients from the United States. Trading futures involves the risk of loss.- eToro61% of retail investor accounts lose money
- Fusion Markets74-89% of retail's CFD accounts lose money
- FP Markets73.85% of retail investor accounts lose money
- Global Prime74-89% of retail CFD accounts lose money
- Pepperstone75.5% of retail investor accounts lose money
Silver trading brokers
Once traders have learned how to take a position on silver, they can start searching for reliable brokers that satisfy their requirements. There are a number of things you should pay attention to before you start trading silver with a given broker, including the trading conditions and costs, regulation and security, market variety, funding options, account types, and mobile applications, to name a few.
TRADE NOWREAD REVIEWPlatformscTrader, MetaTrader 4, MetaTrader 5, TradingView, ZuluTrade, BlackBull CopyTrader, BlackBull Invest, BlackBull Shares, BlackBull TradeMin Deposit$0 (Standard)$0 (Prime)$20,000 (Institutional)Fees- Free deposits and a $5 fee on all withdrawals
- No inactivity fee
Deposit Methods
Commissions- No commission for Standard accounts
- $6.00 per lot for a Prime account
- $4 per lot for ECN Institutional accounts
SpreadEUR/USD: AVG 0.3 pips, EUR/USD: AVG 1 pips, GBP/USD: AVG 0.3 pips, GBP/USD: AVG 1.2 pips, USDJPY: AVG 0.3 pips, USDJPY: AVG 1.2 pipsWithdrawal Methods Leverage EU1:500 (FMA)Leverage non-EU1:500 (FSAS)InstrumentsCommodities CFDs, Crypto CFDs, Forex CFDs, Indices CFDs, Metals CFDs, Stock CFDsRisk Warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money you cannot afford to lose. You should make yourself aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any questions or concerns as to how a loss would affect your lifestyle. BlackBull Markets does not accept client applications from Canada and the United States.Serving clients from 180 countries and counting, BlackBull Markets is one of the top destinations for silver traders. The New Zealand-based broker welcomed its first clients in 2014. Today, it offers more than 26,000 tradable instruments and has become the go-to broker for traders seeking competitive spreads on silver, other commodities, indices, shares, and currency pairs. These instruments are available across several platforms, including MetaTrader 4, MetaTrader 5, TradingView, and cTrader, all accessible on desktop and mobile devices.
The broker supports inexperienced traders with a wealth of educational materials, including tutorials, webinars, and economic calendars. Clients can choose from several account types, including Standard, Prime, Islamic, and Institutional. All accounts use the ECN pricing model. Numerous funding options are available. In addition to credit cards such as Visa and Mastercard, BlackBull Markets accepts payments via bank transfers, Neteller, Skrill, FasaPay, and UnionPay.
The broker is committed to continually enhancing its customers’ experience by delivering transparent and reliable prices directly from the interbank market. It holds licenses issued by the Financial Markets Authority of New Zealand, the UK Financial Conduct Authority, and the Financial Services Authority of Seychelles.
Lastly, BlackBull Markets offers round-the-clock live customer support. Traders can call the support team, send an email, or submit their queries through the live chat.
- 2. AxiMin Deposit$5 (varies based on country)FeesNo deposit and withdrawal feesCommissions
- None for Standard accounts
- $7 for Pro accounts
- $3,50 for Elite accounts
Spread2.5 pips for XAG/USDLeverage EU1:10Leverage non-EU1:500Spread betting and trading both carry a high level of risk to your capital with the possibility of losing more than your initial investment. These products may not be suitable for all investors, and are not available to individuals under the age of 18. Please ensure that you are fully aware of the risks involved and refer to our Risk Warning. If necessary, seek independent financial advice. The Customer Agreement and Execution Policy available at www.axi.com/uk are important and should be reviewed prior to deciding whether to acquire, hold or dispose of Axi’s products.Launched in 2007, Axi is now trusted by more than 60,000 customers around the globe. The company was established in Australia but gradually became a global business, subsequently opening offices in London and Dubai and expanding its operations into Germany, Latin America, and the Middle East.
The broker is known for its fast order execution, tight spreads, award-winning customer support, and advanced trading tools. Regarding the available markets, Axi clients can trade more than 220 CFDs on gold, silver, forex, commodities, shares, cryptocurrencies, indices, and more.
Axi provides clients with a unique trading experience by offering the well-known MT4 platform combined with several exclusive tools. Traders can monitor and modify their positions, receive real-time pricing, and access all major markets with ease on both mobile and desktop devices.
Given that Axi is trusted by traders from more than 100 countries, it’s only natural that the broker supports a wide variety of currencies and payment methods to meet their needs. In addition to country-specific funding options, traders can top up their accounts via credit and debit cards, Neteller, Skrill, POLi, Sofort, Giropay, iDEAL, bank transfers, and more.
Axi clients enjoy a transparent trading environment, as the broker is regulated by the Dubai Financial Services Authority (DFSA), the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities & Investments Commission (ASIC).
- TRADE NOWREAD REVIEWRegulatorsCONSOB (Italy, # 211), FCA (United Kingdom, # 434413), SCB (Bahamas, # 199667 B), CMVM (Portugal, # 433), FSCM (Mauritius, # GB24203277), CVM (Brazil, # 43050.917/0001-03)PlatformsMetaTrader 4, MetaTrader 5, Proprietary Web, TradingView3. ActivTradesMin Deposit$0Fees
- 0.5% on deposits (EU/EEA cards)
- 1.5% on deposits (non EU/EEA cards)
- $12.50 for bank transfer withdrawals in USD
- £9 for bank transfers in GBP (SCB and FSC entities only)
- A $10 inactivity fee after 50 weeks
Deposit Methods CommissionsNo commissionSpreadEUR/USD: AVG 0.5 pips, GBP/USD: AVG 0.8 pips, USDJPY: AVG 0.5 pipsWithdrawal Methods Leverage EU1:10Leverage non-EU1:400 (CMVM | Pro Account), 1:30 (CMVM | Retail Account), 1:1000 (FSC), 1:200 (SCB)InstrumentsBonds CFDs, Commodities CFDs, Crypto CFDs, ETF CFDs, Forex CFDs, Indices CFDs, Share CFDsCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% 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.Launched in 2001, ActivTrades is a long-standing online broker that allows customers to trade silver and more than 20 other commodity markets under highly competitive conditions. The multi-licensed company is fully transparent about its pricing, listing average spreads of just 0.045 points for XAG/USD. All commodity trading is executed through contracts for difference that track the spot price of the underlying asset. No commissions are charged on silver positions.
Positions in the XAG/USD pair can range from as little as 0.01 lots up to 50 lots, giving customers the flexibility to trade in line with their individual goals and budgets. Clients can gain greater exposure to the silver market by using leverage ratios of up to 1:1000 or 1:200 under the Mauritius and Bahamas regulatory frameworks. ActivTrades offers significantly lower ratios of 1:10 to U.K. and European clients.
The broker caters to new traders with a commission-free retail account available in several base currencies, including pound sterling, euro, and U.S. dollar. Clients can deposit and withdraw funds with credit and debit cards, bank transfers, e-wallets, and cryptocurrencies, although certain methods incur additional processing fees. ActivTrades supports the widely popular MT5 and MT4 platforms and enhances them with the Trading Central plugin for technical analysis.
- TRADE NOWREAD REVIEWRegulatorsCIRO (Canada), CySEC (Cyprus, # 347/17), FRSA (United Arab Emirates, # 190018), FFAJ (Japan, # 1574), FSCA (South Africa, # 45984), FSRA (Canada, # 190018), ISA (Israel, # 514666577), JFSA (Japan, # 1662), ASIC (Australia, # 406684), BVIFSC (Virgin Islands, British, # SIBA/L/13/1049), CBI (Ireland, # C53877)PlatformsAvaOptions, DupliTrade, AvaSocial, MetaTrader 4, MetaTrader 5, AvaTadeGO, Proprietary Web, ZuluTrade4. AvaTradeMin Deposit$100Fees
- No fees for account opening
- No deposit and withdrawal fees
- A $50 inactivity fee
Deposit Methods CommissionsNo commissionsSpreadEUR/USD: AVG 0.8 pips, GBP/USD: AVG 1.2 pips, USDJPY: AVG 1.3 pipsWithdrawal Methods Leverage EU1:10Leverage non-EU1:400 (Pro Account), 1:30 (Standard Account)InstrumentsBonds CFDs, Commodities CFDs, Crypto CFDs, Crypto Options, Energy CFDs, ETF CFDs, Forex CFDs, Forex Options, Index Options, Indices CFDs, Metals CFDs, Share CFDs, Stock CFDs, Stock Options, US Stock OptionsCFDs 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.AvaTrade is among the most popular brokers for silver and other precious metal trading. It has been an industry leader since 2006 and is now considered one of the safest online destinations for silver trading, as it holds seals of approval from several notable financial regulators, including ASIC, JFSA, CySEC, and FSCA.
The broker shines when it comes to integrity and fairness, providing transparent pricing, negative balance protection, and a wealth of educational resources to customers. AvaTrade’s user-oriented approach and its desire to create an environment that works for traders at all levels have attracted more than 400,000 registered customers worldwide. Approximately 19 commodities are tradable through CFDs, with spreads for silver starting from $0.029 over the market price. The maximum leverage for this precious metal is capped at 1:2 or 1:50, depending on the country.
The broker offers a varied selection of proprietary and third-party platforms, including the widely used MetaTrader 4, MetaTrader 5, and DupliTrade. Mobile traders can opt for AvaTradeGO, which was named the best forex trading app in 2022. AvaOptions, on the other hand, boasts a fully customizable interface and a range of risk-management tools, but it is better suited to the needs of options traders.
The cutting-edge technology AvaTrade uses is not the only feature that makes the broker stand out from the crowd. Traders can improve their skills with the wealth of valuable information available in the Education section. Clients can expect timely responses to their queries, as customer support representatives are available via email, live chat, and phone.
- 5. IQ OptionMin Deposit$/€10Fees
- Inactivity fee of $/€10 or the currency equivalent
- No deposit and withdrawal fees
CommissionsNo commissions for silver CFDsSpread0.039%Leverage EU1:10 (1:25 for professional traders)Leverage non-EU1:1000CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% 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.IQ Option has been on traders’ radar since 2014 and has since attracted more than 140 million registered users. The multi-licensed broker operates globally, offering competitive pricing for forex, cryptocurrencies, stocks, indices, ETFs, and commodities. The company has won multiple industry awards over the years, including Best Mobile Trading App in 2023.
Traders can rest assured that IQ Option is a reliable and trustworthy silver trading broker, as the company operates under licenses from CySEC, FCA, CONSOB, CNB, AFM, FSA (Estonia), and CNMV. Clients can speculate on the prices of hard and soft commodities such as silver, gold, copper, crude oil, natural gas, corn, and wheat. Spreads for silver are competitive, starting from 0.039% over the market.
European silver traders benefit from maximum leverage ratios of 1:10 or 1:25, depending on their eligibility for retail or professional accounts. Clients from other countries have access to significantly higher leverage ratios of up to 1:1000 for silver CFDs. The broker caters to customers with a sleek, easy-to-use proprietary platform compatible with most desktop and mobile devices. Less experienced traders can practice using a refillable demo account with a $/€10,000 virtual balance.
Minimum deposits generally start at $10 and incur no additional fees. IQ Option provides live account holders with various secure payment options, including Visa, Mastercard, Neteller, Skrill, PayPal, and bank transfers. EU customers are eligible for investor compensation and negative balance protection.
- TRADE NOWREAD REVIEWRegulatorsCySEC (Cyprus, # 092/08), FSCA (South Africa, # 46860)PlatformsMetaTrader 4, MetaTrader 5, Proprietary Web, TradingView6. Markets.comMin Deposit$100Fees
- Inactivity fee of $10 per month
- No deposit and withdrawal fees
Deposit Methods CommissionsNone for silver CFDsSpreadEUR/USD: AVG 0.9 pips, GBP/USD: AVG 1.1 pips, USDJPY: AVG 0.9 pipsWithdrawal Methods Leverage EU1:294 (CySEC | Pro Account), 1:30 (CySEC | Retail Account)Leverage non-EU1:300 (FSCA)InstrumentsBonds CFDs, Commodities CFDs, Crypto CFDs, ETF CFDs, Forex CFDs, Indices CFDs, Metals CFDs, Share CFDsCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% 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.Founded in 2008, Markets.com offers a seamless trading experience under the oversight of notable financial watchdogs such as the FCA, ASIC, CySEC, and FSCA. The broker’s global reach extends to 4.7 million customers across more than 170 countries. Members of the Markets.com community enjoy speedy order execution, low spreads, and commission-free commodity trading. Markets.com is fully transparent when it comes to pricing and fees, ensuring all traders are well aware of the cost of a trade before opening a position.
The multi-asset platform allows traders to speculate on the price movements of over 450 financial instruments, including 23 cryptocurrencies, more than 260 stocks, over 60 ETFs, 29 indices, and 19 commodities such as silver, gold, platinum, and sugar. Silver traders on Markets.com can take advantage of powerful tools for both fundamental and technical analysis. Markets.com provides customers with several intuitive trading platforms, including MT5, MT4, and TradingView. Less-experienced clients can also engage in social trading.
Payments to and from Markets.com are swift and cost-efficient, as the broker supports reliable payment methods like Neteller, PayPal, Skrill, Visa, Mastercard, and fast bank transfers. New customers must deposit at least $100 into their live accounts to get started. Silver traders on a limited budget can increase their market exposure by leveraging their positions at maximum ratios of 1:10 or 1:150, depending on their country of residence.
- TRADE NOWREAD REVIEWRegulatorsCIRO (Canada), DFSA (United Arab Emirates, # F000542), FCA (United Kingdom, # 446717), JFSA (Japan, # 2010401047199), MAS (Singapore, # 201130598R), HKSFC (Hong Kong, # BCQ152), ASIC (Australia, # 345646)PlatformsMetaTrader 4, Proprietary Mobile, Proprietary Web, TradingView7. City IndexMin Deposit$0 ($150 for Singapore and Australia)Fees2% fee for credit/debit card transactions in some countries; a $15 monthly inactivity feeDeposit Methods CommissionsNone for silver CFDsSpreadEUR/USD: AVG 2.4 pips, GBP/USD: AVG 4 pips, USDJPY: AVG 8 pipsWithdrawal Methods Leverage EU1:400 (FCA | Pro Account), 1:30 (FCA | Standard Account)Leverage non-EU1:200 (ASIC | Pro Account), 1:20 (MAS | Standard Account)InstrumentsBond Spread Betting, Bonds CFDs, Commodities CFDs, Crypto CFDs, ETF CFDs, Forex CFDs, Indices CFDs, Interest Rate CFDs, Metals CFDs, Share CFDs, Stock Options, Thematic IndicesCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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.
Established in 1983 in the UK, City Index is committed to providing best-in-class spread betting, forex, and CFD trading services to customers in the UK, Australia, and Asia. The broker has a solid international presence and operates as part of the StoneX Group, which is licensed by the FCA, ASIC, and MAS.
City Index clients can access more than 13,500 tradable markets across major asset classes such as stocks, currencies, indices, and futures. Commodity traders can profit from rising or falling prices on over 20 commodities, including silver, gold, crude oil, cotton, coffee, and sugar. Spread betting is also available to customers in select jurisdictions. Bonds, thematic indices, interest rates, and options are additional markets traders can choose from. The broker offers competitive spreads coupled with fast and reliable execution, regardless of the market being traded.
Traders can easily find an account that suits their needs, as City Index offers standard, corporate, professional, and demo accounts. Regarding platforms, traders can place orders via TradingView, MT4, and the broker’s proprietary browser-based platform. While all platforms are accessible on desktop and mobile devices, the selection of markets, tools, and features is platform-specific. Useful tools available to clients include smart signals, performance analytics, and an economic calendar, among others.
- TRADE NOWREAD REVIEWRegulatorsCFTC (United States, # 0325821), FCA (United Kingdom, # 542574), JFSA (Japan, # 4010001122945), KNF (Poland, # KPWiG-4021-54-1/2004), MAS (Singapore), ASIC (Australia, # 000412981), BVIFSC (Virgin Islands, British, # SIBA/L/20/1130)PlatformsMetaTrader 4, Oanda Web, TradingView8. OandaMin Deposit$0 ($25 for Trustly, Visa, Mastercard)FeesA $10 monthly inactivity fee; a $20 fee for bank transfer withdrawalsDeposit Methods CommissionsNo commission for silver CFDsSpreadEUR/USD: AVG 1.5 pips, GBP/USD: AVG 1.8 pips, USDJPY: AVG 1.7 pipsWithdrawal Methods Leverage EU1:10Leverage non-EU1:5 to 1:40 based on trading volumeInstrumentsBonds CFDs, Commodities CFDs, Crypto CFDs, Forex CFDs, Indices CFDs, Metals CFDsCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.3% of retail investor accounts lose money when trading CFDs with OANDA Europe Markets Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Oanda is a pioneer in online trading services, having worked with customers since 1996. The broker has experienced significant growth over the years and currently serves clients from more than 190 countries, allowing them to trade in over 4,000 financial markets.
The broker offers customers the opportunity to trade through three intuitive platforms – TradingView, MT5, and Oanda Mobile. Each platform is free to use, and traders can open free demo accounts to practice with virtual funds. Additionally, clients have access to VPS hosting and various tools for technical analysis.
Oanda clients can trade metals such as silver and gold, indices, commodities, cryptocurrencies, forex pairs, stocks, bonds, and more. Traders benefit from tight spreads of around 0.035 for silver CFDs at the time of publication; however, spread values are subject to change over time.
Depositing and withdrawing funds to and from your Oanda live account is simple and straightforward, thanks to several time-efficient payment solutions, including Visa, Neteller, Skrill, Mastercard, and Wise. When you are ready to start trading silver, you can transfer any amount you feel comfortable with to your live balance, as Oanda has no specific minimum deposit requirement. Keep in mind, however, that withdrawals via bank transfer incur additional fees.
- TRADE NOWREAD REVIEWRegulatorsCFTC (United States, # 0509630), DFSA (United Arab Emirates, # F001780), FCA (United Kingdom, # 944492), FFAJ (Japan), FINMA (Switzerland, # IG Bank S.A.), FMA (New Zealand, # 684191), FSCA (South Africa, # 41393), JFSA (Japan, # 9010401051715), MAS (Singapore, # 1489), ASIC (Australia, # 515106), BaFin (Germany, # 148759), BMA (Bermuda, # 54814)PlatformsL2 Dealer, MetaTrader 4, Proprietary Web, ProRealTime, TradingView9. IGMin Deposit$50Fees
- No fees for opening an account
- Free deposits and withdrawals
Deposit Methods CommissionsNo commission for silver CFDsSpreadEUR/USD: AVG 1.13 pips, EUR/USD: MIN 0.6 pips, GBP/USD: AVG 2.38 pips, GBP/USD: MIN 0.9 pips, USDJPY: AVG 1.8 pips, USDJPY: MIN 0.7 pipsWithdrawal Methods Leverage EU1:222 (BaFin | Pro Account), 1:30 (BaFin | Retail Account), 1:30 (FCA | Retail Account)Leverage non-EU1:30 (ASIC | Retail Account), 1:200 (BMA | Retail Account)InstrumentsBond Futures, Bond Options, Bond Spread Betting, Bonds CFDs, Commodities CFDs, Commodity Futures, Commodity Options, Commodity Spread Betting, Crypto CFDs, Crypto Options, Crypto Spread Betting, Currency Futures, Energy CFDs, Energy Futures, Energy Options, Energy Spread Betting, ETF CFDs, ETF Options, ETF Spread Betting, Forex CFDs, Forex Options, Forex Spread Betting, Index Futures, Index Options, Index Spread Betting, Indices CFDs, Interest Rate Futures, Metal Futures, Metal Options, Metals CFDs, Metals Spread Betting, Share CFDs, Stock CFDs, Stock Options, Stock Spread Betting, US Stock CFDs, US Stock Options, US Stock Spread BettingCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.1% 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.Established in 1974, IG is a trading company that provides customers with unlimited access to more than 17,000 financial markets, tradable with highly competitive spreads through several market-leading platforms.
IG delivers reliable order execution and charges no commission on silver CFD trades. In addition to silver trading, you can diversify your portfolio with shares, currency pairs, thematic indices, energies, and soft commodities. IG also offers tight spreads of around 2.0 per silver contract, enabling clients from certain jurisdictions to leverage their silver positions at a maximum ratio of 1:50. Retail customers in Europe have access to a lower leverage ratio of 1:2 for this precious metal.
IG offers a choice of several intuitive, well-designed trading platforms, including L2 Dealer, MT4, ProRealTime, and TradingView. Clients looking to sharpen their skills and advance their knowledge can enroll in IG’s dedicated Trading Academy. IG is a trustworthy and reliable online commodity broker that operates in full compliance with the regulatory requirements of strict financial watchdogs such as MAS, CySEC, and the FCA, among others.
- 10. IC MarketsMin Deposit$200FeesNo inactivity fees; free deposits and withdrawalsDeposit Methods CommissionsNone for CFDs on precious metalsSpreadEUR/USD: AVG 0.82 pips, GBP/USD: AVG 1.03 pips, USDJPY: AVG 0.94 pipsWithdrawal Methods Leverage EU1:500 (CySEC | Pro Account), 1:30 (CySEC | Retail Account)Leverage non-EU1:1000 (FSAS | Retail Account)InstrumentsCommodities CFDs, Crypto CFDs, Energy CFDs, Forex CFDs, Indices CFDs, Metals CFDs, Stock CFDsRisk Warning: Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
With more than 200,000 active customers worldwide, IC Markets is a great choice for traders seeking competitively priced precious-metal CFDs. Established in 2007 in Sydney, the broker has gradually earned a reputation as one of the best CFD providers in the industry. It is a go-to destination for traders from all walks of life, catering to all experience levels with extensive educational content and learning materials.
The broker offers access to more than 2,200 markets for forex, indices, stocks, bonds, and cryptocurrencies. In addition, IC Markets gives clients the opportunity to gain exposure to some of the world’s most popular commodities, including gold, cocoa, palladium, and sugar.
The cutting-edge platforms IC Markets offers tick all the right boxes when it comes to features and functionality. In addition to MT4 and MT5, the broker also offers cTrader and TradingView. All four platforms are well-known for their user-friendliness, advanced features, and fast execution. Clients can open Raw accounts, which feature lower spreads and a $7 round-turn commission on forex trades, or opt for commission-free Standard accounts.
Both accounts are suitable for day traders and scalpers. New customers can easily deposit and withdraw funds using methods such as PayPal, Neteller, Visa, Mastercard, UnionPay, Skrill, wire transfers, POLi, and Klarna, among others. IC Markets supports several base currencies, including CAD, EUR, USD, AUD, JPY, NZD, CHF, GBP, SGD, and HKD.
Silver is a highly valuable metal with applications in jewellery, tableware, and industries such as medicine and electronics. It has been used as a means of economic exchange and an investment vehicle for centuries. Although today this precious metal is mainly used for industrial purposes, silver is a highly traded commodity and ranks second behind gold in terms of popularity among investors.
Like gold, silver is also considered a safe haven during periods of market volatility and is commonly used as a hedge against inflation. Additionally, it attracts short-term traders looking to diversify their portfolios by speculating on silver prices without buying the metal.
There are several instruments traders can use to make the most of the rising and falling prices of silver, including futures, ETFs, CFDs, and silver mining shares. Trading silver on the spot is yet another alternative for people seeking exposure to this market. As with all other financial instruments, it is best for novices to fully understand what silver trading involves and which factors commonly impact its price.
How silver trading works for traders and brokers
Silver is the second most traded precious metal. Many traders opt for silver and gold to protect their portfolios during periods of heightened inflation. Unlike many other asset classes, precious metals tend to maintain a relatively stable value and experience less dramatic price fluctuations. During periods of economic uncertainty and volatility, many people turn to silver as a long-term investment and inflationary hedge.
Some traders prefer silver over gold because of its affordability. Silver is commonly traded through contracts for difference (CFDs), a derivative instrument that does not entail ownership of the physical metal but rather enables traders to speculate on price movements in the underlying silver market. To profit, traders must correctly predict whether prices will appreciate or depreciate. The more prices move in their chosen direction, the greater their profits, and vice versa.
Owing to the properties of silver, there is heightened industrial demand for this precious metal. Regardless of the current stage of the business cycle, many applications of silver remain impervious to economic decline.
What traders should know is that, just like gold, silver has an inverse relationship with the US dollar. Thus, changes in the US dollar’s price will affect the price of silver.
There are two ways to gain exposure to the silver market – short-term trading and long-term investing. Investing involves ownership of the underlying asset, in this case silver. Silver trading, on the other hand, is mainly speculative, and there are a number of silver markets one can trade.
As is the case with gold, the traditional way to trade silver is by buying coins or bullion. This form of silver trading has started to lose momentum because of increasing insurance and storage costs.
Silver futures are contracts between two parties agreeing to exchange a given quantity of silver at a predetermined price on a future date. Both parties to the contract are required to uphold their end of it before the expiry date. Trading futures is quite complex, as silver prices can be affected by interest rates and storage costs.
Silver options are derivative instruments that make it possible to speculate on commodities using leverage. Under these contracts, the parties have the right but not the obligation to buy or sell silver at an agreed-upon price in the future. Silver options are divided into two groups, call and put options. Put options involve selling silver, while call options entail buying silver.
Spot prices reflect the current market value of assets, and if traders decide to buy at that price, the asset in question will be exchanged and delivered on the spot. In most cases, buying silver on the spot involves ownership of the asset. Some brokers offer the so-called ‘Cash’ CFDs, enabling customers to gain access to spot prices without actually owning bullion.
ETFs and silver mining stocks are the way to go if you are looking to obtain indirect exposure to movements in silver prices. ETFs (exchange-traded funds) are financial instruments many traders might see as the perfect proxy for speculating on silver, but they should carefully research the additional costs and risks associated with trading this instrument.
Although there are various silver-based instruments to trade and invest in, trading silver CFDs is easily the most popular and widely available option. These contracts enable traders to increase their market exposure by using leverage and to potentially profit from the differences between opening and closing prices. There are many benefits to trading silver CFDs, starting with the fact that there is no need to pay for storage.
Many people prefer silver CFDs because they enable them to trade in both directions, i.e., they can profit when silver prices increase or decrease. Last but not least, trading silver with CFDs is often commission-free. The value of the CFD is based on the difference between the current price of the underlying asset and the price at the time of opening the CFD position.