10 Best Oil Forex Brokers in 2024

Broker	IG
Regulated by	ASIC, FCA, FSA, NFA, AMF, FMA, MAS, DFSA
Min. Deposit	$250
Tradable Instruments	Forex,Shares,Indices, Commodities, Thematic and basket,Options trading, Futures trading, Spot trading
Trading Platforms	Online, Mobile, Tablet & Apps
Oil Trading Costs	Around 1.2 pips for WTI and Brent
Max. Leverage	50:1
Demo accounts	✅
Copy Trading	❌
Bonus	❌
Payment Methods	Debit Card, Wire Transfer,  Bank Transfer (Automated Clearing House (ACH))
Customer Support	7/24

IG Group, founded in 1974, is a UK-based company providing trading in financial derivatives such as contracts for difference and financial spread betting, and stockbroking to retail traders. It is recognized and regulated in multiple countries, thereby ensuring a smooth global operation. IG Group's customers can trade vast instruments including currencies, indices, commodities, stocks, ETFs, and more on its proprietary platform. This user-friendly platform is technologically superior, offering fast and reliable execution, real-time market updates, and advanced charting tools, all accessible on mobile and desktop. IG Group's 24/7 customer support is commendable, with a highly responsive team providing assistance via phone, email, or live chat. Moreover, IG is known for its educational offerings, providing a vast array of financial webinars and detailed market outlook articles.

✅Where IG shines:

• Globally regulated, IG's services are accessible globally, making them a go-to source for international trading.

• Their proprietary platform stands out with its high reliability, speedy execution, and advanced charting tools.

• FTSE 250 trading is one of IG's standout offerings, with tight spreads, direct market access, and up-to-date FTSE-related news.

• Providing guaranteed stop-loss orders (GSLOs), which lock in a maximum loss limit in advance, which few other brokers can do this.

• 7/24 customer support,  IGs attentive and widely accessible customer support sets them apart in addressing trader queries and issues.

❌Where IG Shorts:

• IG charges an inactivity fee of $12 per month after two years of inactivity, unfavourable for long-term investors who trade less frequently.

• Presently, its product range is limited in the U.S with focus largely on forex, causing them to miss out on traders interested in other instruments.

• Some users might find the desktop trading platform complex and difficult to navigate, especially beginners.

•  Some superior research tools and features are available at an extra cost which could be discouraging for some traders.

Broker	Avatrade
Regulated by	ASIC, FSA, FFAJ, CBI, FSCA
Min. Deposit	$100
Tradable Instruments	currency pairs, major stock indices, Cryptocurrencies, commodities (such as gold, silver, sugar, coffee), bonds, individual shares and ETFs
Trading Platforms	AvaSocial, Web trader , AvaTradeGO, MetaTrader 4, MetaTrader 5, AvaOptions,  Automated Trading, Mac Trading, Mobile trading.
Oil Trading Costs	$0.02 spread (Retail), $0.015 spread (Professional)
Max. Leverage	30:1 ( retail tarders), 400:1 ( Pros)
Demo accounts	✅
Copy Trading	✅
Bonus	❌
Payment Methods	Credit/Debit Cards, Wire transfers,  Skrill, Neteller, and WebMoney
Customer Support	5/24

Founded in 2006, AvaTrade is a well-established and trusted broker with its headquarters in Dublin, Ireland. The company is regulated in several jurisdictions, including Australia, Japan, the British Virgin Islands, and South Africa. AvaTrade offers a broad spectrum of more than 250 financial instruments, covering forex pairs, stocks, indices, commodities, cryptocurrencies, and bonds. The broker provides several advanced trading platforms, such as MetaTrader 4 and 5, AvaTradeGO, AvaOptions, and a variety of automated trading platforms. AvaTrade pride themselves on their competitive spreads and no commission structure, allowing traders to manage their trading costs effectively. They offer dedicated customer service support in multiple languages, reachable through various avenues such as phone, email, and live chat. AvaTrade's global standing is solidified by numerous international recognitions, including awards like 'Most Trusted Forex Broker' and “Best Forex Trading Experience.”

Regarding oil trading, AvaTrade offers a robust platform for traders interested in crude oil CFDs. These include WTI Crude Oil, Brent Crude, and Heating Oil. The costs of trading oil are wrapped into the spread, from  $0.03 over markets, with no additional commission charges. With AvaTrade, traders can speculate on the price movements of oil using leveraged trading. Traders can access sophisticated charting tools and automated trading features on either AvaTrade's proprietary platform or the well-known MetaTrader 4 and 5 platforms.

✅ Where Avatrade shines:

•  Regulated by multiple top-tier regulatory bodies, providing traders with a safer and more secure trading environment.

• AvaTrade has received multiple awards, further cementing its reputation as a trusted and reliable broker in the forex trading industry.

• Multiple choices of MetaTrader 4 and 5, AvaTradeGO, AvaOptions, and several automated trading platforms provides flexibility for traders in choosing a platform that best suits their style.

•  AvaTrade has a dedicated customer service team that is available in several languages and can be reached via various channels, including phone, email, and live chat.

• AvaTrade supports several social trading platforms like ZuluTrade and DupliTrade, allowing traders to copy the strategies of experienced traders.

❌Where Avatrade Shorts :

• Withdrawal requests usually take 1-2 business days to process, which is slower compared to some competitors.

• AvaTrade offers a limited range of cryptocurrencies for trading, which could disappoint traders interested in this area.

• AvaTrade requires a relatively high initial deposit to open an account, with no micro account offered, slightly disappointing beginners.  

Broker	IC Markets
Regulated by	ASIC, CYSEC
Min. Deposit	$100
Tradable Instruments	Forex, Commodities CFDs,Indices, Bonds, Digital Currency.Stock, Futures
Trading Platforms	MetaTrader 4, MetaTrader 5, MetaTrader WebTrader, MetaTrader iPhone/iPad.MetaTrader Android, MetaTrader Mac
Oil Trading Costs	Around 0.3 pips for major pairs
Max. Leverage	500:1
Demo accounts	✅
Copy Trading	✅
Bonus	❌
Payment Methods	Bank/Wire transfer, Paypal, Credit Card, Skrill, Neteller, UnionPay, Bpay, FasaPay and Poli
Customer Support	7/24

IC Markets, founded in Sydney, Australia, in 2007, is a highly commended broker recognized globally for its superior trading services. Registered with the Australian Securities and Investments Commission (ASIC), it also enforces strict regulatory compliance, assuring reliability and security. IC Markets, renowned for its wide assortment of tradable instruments, gives traders access to forex pairs, commodities, indices, bonds, and cryptocurrencies, among others. By offering both the MetaTrader and cTrader platforms, the broker cares about more traders, facilitating sophisticated charting, algorithmic trading, and more. IC Markets is celebrated for its competitive trading costs, notably for its low spreads and affordable commissions. With customer service held in high regard, you can expect prompt, multilingual assistance 24/7 via live chat, email, and phone. The recognition IC Markets boasts is solidified by its global reputation, network of international clients, and high recognization from professional traders.

Turning attention to oil trading, IC Markets offers appealing benefits. It presents access to major oil markets globally including Brent Crude Oil and WTI. IC Markets give traders superb oi trading experience though its raw spread accounts, featuring ultra-tight spreads and a reasonable commission structure, significantly reducing trading costs for oil traders. The MetaTrader and cTrader platforms come into play here, providing robust trading tools, superior execution speeds, and responsive charts, equipping oil traders to navigate the volatile oil markets adeptly.

✅ Where IC Markets shines:

•  Heavily regulated by ASIC, and CYSEC, operating in a transparent and secure way.

• IC Markets worldwide presence, supported by a diverse global client base, solidifying its reliable reputation.

•  Grantingaccess to a broad range of tradable instruments from forex, commodities, to indices, giving traders more trading fexiblity.

•  Recognized for offering some of the lowest spreads in the industry, starting from 0.0 pips on major Forex pairs.

•  For oil traders, IC Markets' competitive edge lies in the low fees for oil trading supported by their raw spread accounts.

•  With MetaTrader and cTrader on offer, traders can benefit from the detailed charting and algorithmic trading capabilities.

❌Where IC Markets Shorts :

• IC Markets primarily focuses on forex and CFDs, and may not be suitable for traders seeking to invest in other financial instruments such as stocks and ETFs.

• For certain CFD trades, IC Markets require a higher margin which might be intimidating to novice traders or those with limited capital.

Broker	TickMill
Regulated by	FCA, CYSEC, FSCA,  LFSA
Min. Deposit	$100
Tradable Instruments	Forex, Stock Indices, Commodities, Bonds Cryptocurrencies and more
Trading Platforms	MetaTrader 5MetaTrader 4MetaTrader WebTrader PlatformMetaTrader for MacTickmill Mobile App
Oil Trading Costs	Min Spread: 0.04
Max. Leverage	500:1
Demo accounts	✅
Copy Trading	✅
Bonus	✅
Payment Methods	Bank transfer, Credit/debit cards, Neteller, Skrill, dotpay, Paysafecard, Sofort, Rapid by Skrill, PayPal
Customer Support	5/24

TickMill, established in 2014, is a renowned broker with roots in the United Kingdom. The financial services firm operates under the strict regulation of UK's FCA, and CySEC in Cyprus. It provides wide access to tradable instruments, spanning a variety of asset classes including forex, stock indices, commodities, and bonds. Advanced platform offerings include the industry-favored MetaTrader 4, MetaTrader 5, and TickMill mobile app, known for its exemplary charting, analytical capabilities, and support for automated trading strategies. TickMill is recognized for its competitive trading costs, known to offer low spreads and meager commissions. Traders can access multilingual customer service, available during market operating hours via several channels, including live chat, email, and a call back service. Its firm standing in the current marketplace is perpetuated globally, confirmed by a large network of international clients and positive acclaims from industry experts.

Focusing particularly on oil trading, TickMill furnishes traders with competitive access to major oil markets such as Brent Crude Oil and West Texas Intermediate. Its oil trading fees are generally low, underscored mainly by narrow spreads and low-cost-per-lot commissions. Besides, oil traders can access flexible leverage  up to 500:1 on oil trading, giving traders more trading flexibility.

✅ Where TickMill shines:

• Regulated by well-known, reputable agencies including Seychelles Financial Services Authority, UK's FCA, and CySEC.

• Offers extensive financial instruments across different asset classes which makes for a comprehensive trading environment.

• $30 welcome bonuses, giving traders more counrage to start trading without using their own money.

• TickMill stands out for its competitive conditions in oil trading, featuring low oil trading fees, thereby reducing overall trading costs for oil traders.

• Traders praise its customer support for its responsiveness and proficient multilingual service.

• Additional features like social trading, copy trading also provided, allowing beginner traders to trade with  ease.

❌Where TickMill Shorts:

•  Although it provides multilingual support, some users have reported delays in response times during non-market hours.

•  The accounts offered by TickMill come in predefined forms, and no option is provided for customizing account conditions to better suit unique trading strategies.

Broker	FXTM
Regulated by	CYSEC, FCA, FSC,  FSCA
Min. Deposit	$10
Tradable Instruments	Forex, Commodities, Metals, Stocks, Indices, and Stock CFDs
Trading Platforms	MT4, MT5, FXTM Trader app
Oil Trading Costs	Competitive
Max. Leverage	2000:1
Demo accounts	✅
Copy Trading	✅
Bonus	❌
Payment Methods	Credit and Debit Cards, e-Wallets, crypto, Bank Wire transfers and local payment solutions
Customer Support	5/24

Founded in 2011 and headquartered in Limassol, Cyprus, ForexTime (FXTM) is a name synonymous with global excellence in the trading world. Extensively regulated by top-tier authorities like CySEC in Cyprus, the FCA in the UK, and FSCA in South Africa, it adheres to stringent standards enhancing its credibility. FXTM avails an array of tradable instruments to its clientele, constituting forex pairs, commodities, indices, equities, and cryptocurrencies. The borker relies on the robust MetaTrader 4 and MetaTrader 5 platforms, known for their extensive charting tools, fast order execution, and support for automated trading systems. Regarding trading costs, FXTM stands competitive with its reasonably low spreads and commissions, especially on ECN (Advantage Plus) accounts. FXTM's client-centric approach is further emphasized by its responsive, multilingual customer service, reachable via live chat, phone, or email. Its strong reputation on the global stage is confirmed by numerous accolades, broad client base, and positive client testimonials.

Discussing its oil trading, FXTM grants access to the most widely-traded oil markets globally, including Brent Crude Oil and WTI, supported by competitive trading conditions. Their trading costs for oil are generally dynamic, as they depend on factors like the specific oil contract, market conditions, and the type of account that a broker operates on. However, typically, FXTM charges reasonable commissions for trades on oil CFDs and offers comparatively narrow spreads.

✅ Where FXTM shines:  

•   Duly regulated by top-tier regulatory entities such as CySEC in Cyprus, the FCA in the UK, and FSCA in South Africa, thus ensuring a high level of regulatory compliance.

•   Offering a diverse range of tradable assets, presenting an opportunity for a more diversified portfolio which includes forex pairs, commodities, indices, equities, and cryptocurrencies.

•  This affordability makes trading operations cost-effective, particularly on the broker's advantage plus accounts.

•   FXTM's reputation in the global trading community is quite noteworthy, fortified by a large international client base.

•  FXTM also stands out with its feature “FXTM Invest” which allows for copy trading.

❌Where  FXTM Shorts:

•  Despite offering a wide asset range, they don't offer certain financial instruments, such as single stock CFDs, which traders might be interested in.

•  Some users have reported occasional delays in the withdrawal process which could be an area of improvement.

•  A fee of $5 per month after 6 months of inactivity is applied, increasing traders' overall trading costs.  

Broker	Forex.com
Regulated by	ASIC,  FCA,  FSA,  NFA,  IIROC,  CIMA,  MAS
Min. Deposit	$100
Tradable Instruments	Forex, Stock CFDs, Indices,  Cryptocurrencies, Commodities
Trading Platforms	Webtrader, Mobile Apps MetaTrader 4
Oil Trading Costs	Competitive
Max. Leverage	50:1
Demo accounts	✅
Copy Trading	✅
Bonus	❌
Payment Methods	Credit Card, Debit Dard, Skrill and Neteller e-wallets,  Wire Transfer
Customer Support	5/24

Established in 2001 and headquartered in Bedfordshire, UK, Forex.com is an respected player among online brokerages. It operates under multiple regulations, including ASIC in Australia, FCA in the UK, FSA in Japan, and more. Forex.com opens up access to various markets across forex pairs, indices, shares, commodities, and cryptocurrencies. The broker supports multiple advanced trading platforms, including the well-respected MetaTrader 4, MetaTrader 5, along with their proprietary Forex.com platform and WebTrader. Each of these platforms brings forth impressive technological features, like extensive charting tools, rapid order execution, and comprehensive back-testing options. Forex.com presents competitive trading costs through low spreads and transparent commissions.  Their customer support, accessible via live chat, phone, and email, is known for their swift and knowledgeable responses. Forex.com's credibility is further amplified by their international recognition, with a large global client base and several industry awards to their credit.

When it comes to oil trading, Forex.com offers CFDs on both Brent Crude Oil and WTI, allowing traders to capitalize on the price movements of these major oil markets. The broker maintains competitive trading conditions for oil, with relatively low and transparent trading fees. This includes low spreads for oil CFDs, accompanied by transparent commission structure based on volume traded. Leveraging the robust capabilities of MetaTrader 4, Tradingview, and properitary trading platforms offered, Forex.com ensures a 99.99%* execution rate of less than a second.

✅ Where Forex.com Shines:  

• Globally and heavily regulated, ranking top among brokers in the world, trusted and respected.

•  Being one of a few online brokers offering Direct Market Access (DMA), allows trading directly into the forex interbank market.

• Web trading platform is powered by TradingView, known for its unparalleled charting features, greatly enhancing the traders' analytical efficiency.

•  Providingspot oil trading, differing from many online brokers who offer Oil trading via CFDs.

• Offering up-to-date analysis, including actionable trade ideas, directly from their team of globally-experienced market professionals and strategic partners.

❌Where  Forex.com Shorts:

•  While Forex.com boasts of cost efficiency, it charges an inactivity fee after a year of account dormancy.

• Although they offer customizable platforms like MT4 and their proprietary software, some traders might miss vast third-party platform options.

•  While Forex.com provides prompt customer service, their service isn't available over the weekends, which might be problematic for some traders.

• Unlike many modern brokers, Forex.com doesn't yet offer a native social trading platform. It might be a drawback for traders keen on collaborative trading or pursuing copy trading.

Broker	FP Markets
Regulated by	CYSEC, ASIC
Min. Deposit	$100
Tradable Instruments	forex, shares, commodities, stock market indices and digital currencies
Trading Platforms	MetaTrader 4,  MetaTrader 5, WebTrader, Iress
Oil Trading Costs	0.5 pips for accounts with Raw spreads
Max. Leverage	500:1
Demo accounts	✅
Copy Trading	✅
Bonus	❌
Payment Methods	Bank Transfer, PayPal, Debit/Credit Card
Customer Support	7/24

FP Markets is an Australian-based Forex and CFD broker that was established in 2005. This brokerage firm operates under the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), demonstrating strong regulatory compliance. FP Markets boasts a diverse offering of over 22,500 tradeable instruments, including forex, indices, commodities, shares, and cryptocurrencies. The broker provides traders with leading trading platforms MetaTrader 4 and MetaTrader 5, as well as the IRESS platform, known for their sophisticated charting tools and automated trading features. FP Markets prides itself on its low-cost trading experience, offering competitive spreads, low commissions, and no hidden fees. Its customer support is accessible 24/5 via email, phone, and live chat. FP Markets has received global recognition, winning over 35 industry awards for its service and performance in the Forex marketplace.

In terms of oil trading, FP Markets provides access to trade oil CFDs, specifically Brent Crude Oil and WTI (US) Crude Oil, with leverage up to 500:1. The costs associated with trading oil typically include the spread and potentially a small commission, depending on the account type. Utilizing either the MetaTrader 4 or MetaTrader 5 platform, traders can take advantage of the advanced charting tools and rapid execution, both key factors in the often volatile oil market.

✅ Where FP Markets Shines:  

•  Regulated by multiple top-tier regulatory bodies such as ASIC and CySEC, ensuring transparency and protection for traders.

• Offering both MetaTrader 4 and MetaTrader 5, plus the IRESS platform, provides traders with a comprehensive and highly customizable trading environment.

• Offering more than 10,000 trading instruments, spanning from forex, commodities, indices, shares to cryptocurrencies.

• FP Markets provides a range of educational materials and tools to assist new traders in learning the ropes and experienced traders in improving their strategies.

• FP markets provide the opportunity for VPS (Virtual Private Server) hosting, which allows for faster and more reliable automated trading.

•  FP Markets supports copy trading through various platforms which allows less experienced traders to mimic the strategies of successful traders, potentially boosting their trading success.

❌Where  FP Markets Shorts:

•  Unlike many competitors, FP Markets provides a limited choice of cryptocurrencies for trading.

• FP Markets does not offer its services in certain countries, which hinders its accessibility to traders across the globe.

Broker	Plus500
Regulated by	ASIC, FCA, FSA,  CYSEC, FMA,  MAS
Min. Deposit	$100
Tradable Instruments	Currency Pairs, Cryptocurrencies, Soft and Hard commodities (such as wheat, gold and oil), Shares
Trading Platforms
Oil Trading Costs	Zero commissions, spread 0.04
Max. Leverage	300:1
Demo accounts	✅
Copy Trading	✅
Bonus	❌
Payment Methods	Bank transfer, Credit/debit cards, PayPal, Skrill
Customer Support	24/7

Established in 2008, Plus500 is a leading CFD brokerage firm originating from Israel. It is currently based in Haifa and registered under Plus500UK Ltd in the United Kingdom. Plus500 firm operates under the strict regulatory supervision of FCA in the UK, and ASIC in Australia. With Plus500, traders have access to over 2800 instruments spanning forex, indices, commodities, shares, ETFs, options, and cryptocurrencies. The firm deploys a proprietary trading platform, WebTrader, praised for its user-friendly interface, advanced charting resources, and varied trading tools. Plus500 is renowned for its competitive cost structure, featuring tight spreads and no commission on trades, which significantly reduces overall trading costs. Its support service is robust with 24/7 availability of customer care representatives who can be reached via live chat and email. Plus500 is globally recognized, noted for its listing on London Stock Exchange's Main Market, and its sponsorship of football club Atletico Madrid, demonstrating the firm's strong industry presence.

Plus500 offers trading on the most widely traded oil markets including WTI Crude Oil,  Brent Oil, and heating oil. Plus500 stands out for offering its customers the ability to trade oil CFDs with up to 1:20 leverage, allowing them to amplify their trading position. The trading costs associated with oil trading generally manifest as part of the spread, which are competitive and in line with industry standards.

✅ Where Plus500 Shines:  

• Authorized and regulated by top-tier regulatory bodies, like FCA, ASIC, reflecting a high standard of regulatory compliance.

• Plus500's listing on London Stock Exchange's Main Market and sponsorship of football club Atletico Madrid underscores the firm's global recognition.

•  Giving access to over 2,800 tradable instruments, including forex, commodities, shares, ETFs, options, and cryptocurrencies.

•   At Plus500, traders enjoy a commission-free trading structure, as costs are mainly included in spreads.

• Plus500 offers 24/7 customer support, handling inquiries promptly and effectively to ensure customer satisfaction.

❌Where  Plus500 Shorts:

•  Plus500 provides 24/7 customer support primarily through chat and email. The lack of phone support could be a roadblock for users requiring urgent assistance.

•  Plus500 does not extend investor protection to clients outside the European Union. As a result, they might lose more than they initially deposited.

•   Plus500 solely relies on its proprietary platform, WebTrader. Although the platform is comprehensive and user-friendly, the absence of MetaTrader might disappoint some traders.

Broker	IronFX
Regulated by	CYSEC, FCA
Min. Deposit	$50
Tradable Instruments	shares, indices, forex, futures, metals and commodities
Trading Platforms	MetaTrader 4, MetaTrader 4 Web Trader and proprietary Personal Multi Account Manager (PMAM)
Oil Trading Costs	0.8 pips for WTI and Brent
Max. Leverage	1000:1
Demo accounts	✅
Copy Trading	✅
Bonus	❌
Payment Methods	China UnionPay, Wire Transfer, Cryptocurrencies, Neteller, FasaPay, Skrill, SafetyPay, Credit Card, PerfectMoney, E-wallets, Paysafe
Customer Support	5/24

Founded in 2010, IronFX is a globally recognized brokerage firm based in Cyprus, regulated by FCA in the UK, CYSEC in Cyprus. IronFX boasts more than 300 tradable instruments, including forex pairs, spot indices, shares, futures, commodities, and cryptocurrencies. IronFX offers clients a choice between several trading platforms, including the industry-leading MetaTrader 4, along with their bespoke WebTrader platform. All platforms come equipped with advanced charting tools and automated trading capabilities. IronFX's trading cost model incorporates both fixed and floating spreads, with competitive commissions charged. The broker provides 5/24 customer service via phone, email, and live chat, ensuring that clients' needs are promptly addressed. IronFX's reputation is globally acknowledged, demonstrated by its multiple industry awards for quality service and innovative trading technology.

As for oil trading, IronFX gives traders exposure to the oil market through CFDs on Brent Crude Oil and WTI, and spreads for oil trading are competitive. By using the MT4 platform or IronFX's WebTrader, traders get access to features like advanced technical analysis charts, one-click trading, and various order types, which can be indispensable tools in the fast-moving oil market.

✅ Where IronFX Shines:

• Regulated by top-tier bodies such as CySEC, ASIC and FCA, giving traders more reassurance.

• IronFX's industry recognition, with multiple awards for its service and platform, underscores its position as a leader in the online trading industry.

• IronFX offers competitive spreads, with a choice between fixed and floating spread accounts, the broker also offers commission-based pricing for even lower spreads.

• IronFX allows traders to hedge their positions, providing a risk management tool for traders.

❌Where  IronFX Shorts:

• No 7/24 customer support, cannot address trading problems during weekends.

• IronFX supports several common deposit and withdrawal methods, yet  the absence of e-wallets like PayPal can prove to be inconvenient for some traders.

• While IronFX does offer negative balance protection, it is not universally applied and is conditional, which may put traders' funds at risk.

Broker	Blackbull
Regulated by	FMA, FSA
Min. Deposit	$0
Tradable Instruments	Forex, Shares, CFDs & Commodities
Trading Platforms	TradingView， MT4, MT5, cTrader, Blackbull Copytrader
Oil Trading Costs	Spreads starting from around 0.8 pips for WTI and Brent
Max. Leverage	500:1
Demo accounts	✅
Copy Trading	✅
Bonus	❌
Payment Methods	Bank transfer, Credit/debit cards, Neteller, Skrill, China UnionPay, FasaPay
Customer Support	7/24

Founded in 2014, BlackBull Markets is a New Zealand-based online broker that operates under the regulation  of the Financial Markets Authority (FMA). It provides traders access to vast financial instruments including forex pairs, commodities, indices, metals, and energies through the industry-renowned MetaTrader 4 platform, which boasts advanced charting tools, customizable indicators, and algorithmic trading capabilities. Featuring a transparent pricing structure, BlackBull Markets operates on an Electronic Communications Network (ECN) model, offering competitive spreads and charging commissions on certain account types. BlackBull Markets maintains a dedicated customer service team that can be reached via email, live chat, and phone. Globally, BlackBull Markets enjoys a solid reputation acknowledged through its receipt of the Deloitte Fast 50 award in 2020.

Focusing on oil trading, BlackBull Markets offers its clients the opportunity to trade WTI Crude Oil and Brent Crude Oil. Trading costs for oil, as with their other commodities, are incorporated within the spread and there may also be a commission depending on the chosen account type. Thanks to their ECN model, traders can expect rapid trade execution and competitive pricing, which is crucial in volatile markets like oil.

✅ Where Blackbull Shines:  

• BlackBull Markets is regulated by the Financial Markets Authority (FMA) of New Zealand, providing traders with a secure and reliable trading environment.

• Employing an Electronic Communication Network (ECN) trading model, offering traders tight spreads and faster trade execution.

• BlackBull Markets provides 24/7 customer support via email, live chat, and phone.

• $0 to start real trading, making it easily accessible for most traders, especially beginners.

• Flexible leverage up to 500:1, an ideal option for scalping and high-frequency traders.

❌Where  Blackbull Shorts:

• Not globally regulated, operating under weaker regulations compared with other brokers.

• Unfortunately, Blackbull Markets does not serve clients from certain countries, including the United States.

• All accounts at BlackBull Markets come with  a floating spread model, which may not suit traders looking for predictable trading costs.

Whether oil investment is “good” hinges on your goals and risk tolerance. Short-term, it could shine: demand is currently robust, geopolitical risks abound, and alternative energy's grip remains tight. But the long-term outlook clouds: renewables may steadily eat market share, volatility is notorious, and environmental concerns loom large. Ultimately, oil can be lucrative now, but carries significant long-term risks. Choose wisely, with careful research and a keen eye on your goals.

Primarily, two types of oil are traded on the market:

West Texas Intermediate (WTI): This is a grade of crude oil used as a benchmark in oil pricing and the underlying commodity of New York Mercantile Exchange's oil futures contracts. WTI is known for its high quality and easy refinement into products like gasoline.

Brent Crude: This type of oil comes from the North Sea and is used as an international benchmark for oil prices. Brent crude is slightly less “light” and “sweet” than WTI but is still of high quality.

Both types serve as global price benchmarks, with Brent representing international prices and WTI domestic US prices.  

Some brokerage firms might allow you to start oil trading with as little as $100 margin for a futures contract or even lower for CFDs. Being techinically allowed, it is unwise and potentially dangerous to start oil trading with that amount.   Specifically, oil trading often involves leverage, meaning you control a larger contract value than your actual capital. $100 is extremely low for leveraging such volatile assets, exposing you to larger losses even with small price movements. Therefore, realistically, considering at least $5,000-$10,000 as a starting point for active trading is a smart move.

Absolutely not for beginners. Oil trading can be complex and volatile and wild oil price swings and leverage traps can devour a beginner's capital faster than a hurricane. Oil trading requires knowledge about geopolitical events, global economics, and specific industry dynamics influencing oil prices. 

Spot Oil and CFD Oil trading both involve dealing with oil as a commodity, but they operate differently. Spot oil means you physically own the underlying oil barrels, and you can buy or sell oil at its 'spot' price for immediate delivery. In contrast, CFD trading involves speculating on the price movement of oil without owning the underlying asset. Besides, spot oil trading  entails the physical transportation of the commodity, which adds complexities regarding storage and delivery costs that you don't encounter with CFD trading. What's more,CFD trading often involves leverage, meaning you can open a larger position with a small initial deposit, while spot oil trading does not have this option. Lastly, spot oil markets typically have set trading hours, while CFD trading can often be done around the clock.

Fundamental Analysis

It involves understanding influences on oil prices such as geopolitics, various supply and demand factors, and global economics. For example, if tensions rise in a key oil-producing region, this could indicate potential supply disruption leading to price increases.

Technical Analysis

This strategy involves using previous market data to predict future price trends. For instance, if the 50-day moving average of oil prices crosses above the 200-day average, it could indicate a bullish trend, prompting a buy decision.

Hedging

Oil investors can hedge their risks through other financial instruments. For instance, if you hold crude oil in your portfolio and worry about potential price falls, you could take a short position on oil futures to mitigate potential losses.

Swing Trading

Swing traders buy or sell oil based on its price 'swings'. For example, if oil prices drop suddenly due to unexpected oversupply, a swing trader might view this as a temporary fall and buy, expecting the price to rebound.

Spread Trading

Some traders utilize the price difference between two futures contracts for profit. For instance, if the December oil futures price is significantly higher than November, traders can sell the December contract and buy the November contract, profiting from the spread.