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.
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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.
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.
Best Online Brokers for Futures Trading and Commodities
| Broker | NerdWallet rating | Fees | Account minimum | Promotion | Learn more |
|---|---|---|---|---|---|
 Interactive Brokers Futures Learn more on Interactive Brokers' website | $0.25 - | $0 | None no promotion available at this time | Learn more on Interactive Brokers' website | |
 Webull Futures | $0.25 - | $0 | None no promotion available at this time. | Read review | |
 TradeStation Futures | $1.50 | $0 | 50% Off Futures Brokerage Fees for New Customers with Code NERDAGJK | Read review | |
 Charles Schwab Futures | $2.25 | $0 | None no promotion available at this time | Read review | |
 E*TRADE Futures | $1.50 | $0 | None no promotion available at this time | Read review |
$0.25 - $0.85
$0
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.
$0.25 - $1.50
$0
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 March 13, 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
Frequently asked questions
Yes, but you could also lose your entire investment. Investing in futures is a strategy that earns a few caveats. It comes with risk, as do all investing strategies. But futures trading is even riskier: You’re making a bet on the direction a market is going to go, an outcome that is difficult for even professional analysts to predict correctly. In other words: You can do a lot of research, feel confident in your prediction and still lose a lot of money very quickly.
To get started, open an account with a broker that supports futures markets. The broker will probably ask about your net worth, your investing experience, and how much money you make.
It depends on the broker. You'll need to cover the broker's fees, plus regulatory and exchange fees. In addition to that, your broker may have other requirements, such as a certain amount in your margin account.
