Started trading oil and gold CFDs here's which broker I ended up on after trying a few
I work in the energy sector and have been following oil markets closely for years. Last year I finally decided to start trading WTI and Gold CFDs with real money instead of just watching the charts.
First broker I tried - one a colleague recommended - had WTI spreads around 5–6 points during normal hours. That's a lot of ground to cover before you're profitable on a short-term trade.
Spent a few weeks looking for alternatives specifically for commodity CFDs, which is harder to research than forex or stocks - fewer people actually write about it from a commodities perspective.
Tested three more platforms. One had decent execution but their support was completely useless when I had a margin question around an OPEC announcement - took two days and I never got a clear answer. Dealbreaker for leveraged positions.
Currently considering one of the options. WTI and Gold spreads are noticeably better than where I started, it covers the other instruments I trade across indices and forex, and the regulation is solid (CySEC, BaFin registered). The mobile app works well enough that I can check positions during the day.
It's not perfect - the educational content on the platform is thin, and MT4 setup took some fiddling. But for execution costs and reliability it's done the job.
Important: commodity CFDs move fast, especially around OPEC decisions and EIA inventory releases. I trade max 5x leverage and always set stops. Lost money the first few weeks before I got disciplined about position sizing.
Anyone else here specifically trading commodity CFDs? Curious what instruments and which brokers others are using.