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BEST OF

5 Best Online Brokers for Futures Trading and Commodities

We've picked the best futures trading and commodities brokers by reviewing platforms, commissions and fees, tools, research and support.

Chris Davis
By Chris Davis 
Edited by Arielle O'Shea

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.


The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

Futures trading is a complicated business, even for experienced investors, and so is shopping for a futures and commodities broker. It’s not just about contract fees and trading platforms (although both are important factors to consider).

Trading in futures requires looking for a broker that offers the highest level of real-time data and quotes, an intuitive trading platform, an abundance of charting and screening tools, technical indicators and a wealth of research — plus the ability to leverage your account with reduced day-trading margin requirements. All of that, and you still want low costs and high-quality customer support.

These are the features and services we focused on in our rankings, concentrating on the world of online discount brokers that serve self-directed traders (not pros) seeking to quickly execute their own futures strategies.

If you’re new to futures trading and want to dabble in this strategy, you should understand how to trade futures, determine the risks involved, and have your financial bases covered. And if you decide you’d rather stick to stock trading, which — while still risky — is vanilla compared with futures? Check out our list of the best brokers for stock trading instead.


Why you can trust NerdWallet's picks: Our writers and editors together have more than 50 years of experience writing about finance, and follow strict guidelines to maintain editorial integrity. We do a deep, independent analysis of dozens of investment firms, sorting through the details to find and evaluate the information investors want when choosing an investing account. To see our full methodology and learn more about our process, read our criteria for evaluating online brokers.

Futures trading is a complicated business, even for experienced investors, and so is shopping for a futures and commodities broker. It’s not just about contract fees and trading platforms (although both are important factors to consider).

Trading in futures requires looking for a broker that offers the highest level of real-time data and quotes, an intuitive trading platform, an abundance of charting and screening tools, technical indicators and a wealth of research — plus the ability to leverage your account with reduced day-trading margin requirements. All of that, and you still want low costs and high-quality customer support.

These are the features and services we focused on in our rankings, concentrating on the world of online discount brokers that serve self-directed traders (not pros) seeking to quickly execute their own futures strategies.

If you’re new to futures trading and want to dabble in this strategy, you should understand how to trade futures, determine the risks involved, and have your financial bases covered. And if you decide you’d rather stick to stock trading, which — while still risky — is vanilla compared with futures? Check out our list of the best brokers for stock trading instead.


Why you can trust NerdWallet's picks: Our writers and editors together have more than 50 years of experience writing about finance, and follow strict guidelines to maintain editorial integrity. We do a deep, independent analysis of dozens of investment firms, sorting through the details to find and evaluate the information investors want when choosing an investing account. To see our full methodology and learn more about our process, read our criteria for evaluating online brokers.

Best Online Brokers for Futures Trading and Commodities

NerdWallet rating 

4.4

/5
Interactive Brokers Futures
Learn more

on Interactive Brokers' website

Fees

$0.25 - $0.85

Account minimum

$0

Promotion

None

no promotion available at this time

Pros

  • Tiered and fixed pricing options.

  • Low futures trading commissions.

  • Access to a large selection of exchanges and asset classes.

Cons

  • Website can be difficult to navigate.

Why We Like It

Interactive Brokers' futures offering scores among the highest in our analysis, thanks to the broker's flexible low pricing and professional-level trading platforms and tools.

NerdWallet rating 

4.0

/5
Webull Futures
Fees

$0.25 - $1.50

Account minimum

$0

Promotion

None

no promotion available at this time.

Pros

  • Low futures trading commissions.

  • Low minimum margin requirements.

Cons

  • CME exchange only.

  • Small number of tradable products compared to competitors.

Why We Like It

Webull is a well-rounded broker that appeals to the mobile-first generation of investors with a slick interface, low futures trading commissions and an impressive selection of trading tools. Advanced futures traders may find its small selection of tradable products limiting.

Want to compare more options? Here are our other top picks:

Last updated on May 31, 2024

Methodology

NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers by assets under management, along with emerging industry players. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.

We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).

For more details about the categories considered when rating brokers and our process, read our full methodology.

To recap our selections...

NerdWallet's Best Online Brokers for Futures Trading and Commodities

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