Commodities such as gold, oil, natural gas and wheat can add diversification to a portfolio, or let you speculate on price moves. In the UK, you can invest in them in several ways, from exchange-traded commodities (ETCs) held in an ISA to futures and leveraged spread bets.
We compared four FCA-regulated platforms on how they let you trade commodities, what they charge and who they suit, using the information on their UK websites in October 2026.
CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 52% and 70% of retail investor accounts lose money when trading CFDs or spread bets with the providers in this article. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
How to invest in commodities in the UK
| Method | How it works | Leverage |
| ETCs and commodity ETFs | Listed products that track a commodity price, such as physical gold ETCs. Many can be held in an ISA. | No |
| Commodity company shares | Shares in miners, oil producers or agricultural companies. Their price follows commodities only partly. | No |
| Futures and options | Exchange-traded contracts on a commodity at a future date. Contract sizes are often large. | Yes |
| Spread bets and CFDs | Bets or contracts on the price movement, without owning the commodity. Spread bet profits are currently free of Capital Gains Tax in the UK. | Yes |
For most long-term investors, an ETC or a commodity ETF is the simplest way to add commodities to a portfolio. Futures, spread bets and CFDs suit experienced traders who understand leverage. Tax treatment depends on your individual circumstances and may change.
Best commodity trading platforms in the UK
| Platform | Best for | Ways to trade commodities | Retail CFD accounts losing money |
| IG | Spread betting and 35 commodities | Spread bets, CFDs, ETCs and shares | 70% |
| Interactive Brokers | Futures and options | Futures, options, CFDs, ETCs and shares | 58.9% |
| Saxo | One platform for every product | Futures, options, CFDs, ETCs and shares | 60% |
| eToro | Copy trading | CFDs, ETFs and shares | 52% |
Sources: IG, Interactive Brokers, Saxo and eToro, October 2026.
IG: best for spread betting and range of commodities
IG offers 35 commodities through spread bets and CFDs, on both spot (undated) and futures prices, plus commodity shares and ETCs through its share dealing account. IG Markets Ltd is authorised and regulated by the FCA, with register number 195355.
IG’s main cost on commodity trades is the spread. These are the minimum spreads on its UK charges page:
| Market | Spread bet | CFD |
| Spot gold | 0.3 | 0.3 |
| Spot silver | 3 | 2 |
| Brent crude | 2.8 | 2.8 |
| Natural gas | 3 | 3 |
Minimum spreads in points, October 2026. Spot (undated) positions held overnight pay a funding charge, while futures prices have wider spreads but no overnight funding.
For long-term investing, IG’s share dealing account charges no commission on UK and US shares and ETCs, with a 0.7% FX fee when a trade needs currency conversion. There is no custody or inactivity fee.
| Pros | Cons |
| ✓ 35 commodities on spot and futures prices | ✗ 70% of retail CFD and spread bet accounts lose money |
| ✓ Spread betting, free of Capital Gains Tax | ✗ Overnight funding on spot positions |
| ✓ Commission-free share dealing for ETCs | ✗ 0.7% FX fee on share dealing |
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Interactive Brokers: best for futures and options
Interactive Brokers (IBKR) is the best choice if you want to trade commodity futures and options directly on the exchanges, such as oil, gold or agricultural contracts. It also offers commodity CFDs, including oil and precious metals, plus ETCs and commodity shares. Interactive Brokers (U.K.) Limited is authorised and regulated by the FCA, with reference number 208159.
IBKR charges a fixed commission of $0.85 per contract on US futures, plus exchange and regulatory fees. There is no account minimum and no custody fee, and you can hold several currencies in one account to avoid repeated conversions. Its Trader Workstation platform is powerful but takes time to learn.
| Pros | Cons |
| ✓ Direct access to commodity futures and options | ✗ Complex platform for beginners |
| ✓ Low commission per contract | ✗ Futures contract sizes can be large |
| ✓ Multi-currency account | ✗ Market data subscriptions cost extra |
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 58.9% of retail investor accounts lose money when trading CFDs with IBKR. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Saxo: best for one platform for every product
Saxo gives you commodity futures, options, CFDs, ETCs and shares in one account, with two platforms: SaxoInvestor for simple investing and SaxoTrader for advanced trading. You can also use a flexible ISA or a SIPP for ETCs and shares. Saxo Capital Markets UK Ltd is authorised and regulated by the FCA, with reference number 551422.
There is no minimum initial funding. Stock and ETC commissions start from 0.08%, the custody fee on the Classic tier is 0.12% a year, and currency conversion costs 0.60% on Classic. Higher tiers pay less.
| Pros | Cons |
| ✓ Futures, options, CFDs and ETCs in one place | ✗ 0.12% custody fee on Classic |
| ✓ ISA and SIPP available | ✗ 0.60% FX fee on Classic |
| ✓ No minimum initial funding | ✗ Best prices need a higher tier |
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% 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.
eToro: best for copy trading
eToro lets you trade commodities such as gold, oil and natural gas through CFDs, and invest in commodity ETFs and shares. Its CopyTrader feature lets you copy the portfolios of other investors automatically. eToro (UK) Ltd is authorised and regulated by the FCA.
eToro charges no commission on real stocks and ETFs for UK clients. Other fees may apply. CFD costs are in the spread, with overnight fees on positions held open. UK clients can hold a GBP account with free pound deposits and withdrawals, and the minimum first deposit is $50.
| Pros | Cons |
| ✓ Copy trading and a simple app | ✗ No commodity futures or options |
| ✓ No commission on real stocks and ETFs | ✗ 0.75% to move pounds to the USD account |
| ✓ GBP account with free withdrawals | ✗ $50 minimum first deposit |
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 52% 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.
Conclusion
| # | Platform | Best for |
| 1 | IG | Spread betting and range of commodities |
| 2 | Interactive Brokers | Futures and options |
| 3 | Saxo | One platform for every product |
| 4 | eToro | Copy trading |
IG offers the widest range of commodities to trade, with 35 markets and spreads from 0.3 points on spot gold. Interactive Brokers is the best route to real futures and options at $0.85 per US contract. Saxo puts every product in one account with an ISA and a SIPP, and eToro is the simplest app if you want to copy other investors.
If you only want long-term exposure, a gold or broad commodity ETC in a Stocks and Shares ISA avoids leverage altogether.
FAQs
What’s the best commodity trading platform in the UK?
It depends on how you want to trade. IG has the widest range of commodities for spread betting and CFDs, Interactive Brokers is best for exchange-traded futures and options, and Saxo offers everything in one account. For long-term investing, any platform with ETCs, such as IG’s share dealing account or Saxo, works well.
Can I hold gold in an ISA?
Not physical gold, but many gold ETCs and commodity ETFs listed in London can be held in a Stocks and Shares ISA. Check with your platform that the product is ISA-eligible.
Is spread betting on commodities tax-free?
In the UK, profits from spread betting are currently free of Capital Gains Tax and stamp duty for most people. CFD profits are subject to Capital Gains Tax. Tax treatment depends on your individual circumstances and may change.
What is the London Metal Exchange (LME)?
The London Metal Exchange is the world’s main market for industrial metals such as copper, aluminium and zinc. It was founded in 1877 and sets reference prices used across the metals industry.
Who provides Saxo’s services in the UK?
In the UK, Saxo’s services are provided by Saxo Capital Markets UK Ltd, part of the Saxo Bank Group, which is authorised and regulated by the FCA.