Best Silver Brokers 2026

While lacking the prestige of gold, frequent price volatility means that silver can be a superior asset for short-term traders. In this silver trading guide, we explain what moves the price of the metal and the different ways you can trade it.

Quick Introduction

• Silver is a malleable metal that plays a major role as both a tradable asset and an industrial commodity.
• Individuals can trade silver using instruments like futures, options, CFDs and ETFs.
• Macroeconomic news, the movement of the US dollar, and gold prices influence the price of silver.
• The gold-silver ratio is a useful tool that can help traders decide if the precious metal is undervalued.

Best Brokers For Trading Silver

Filter brokers

Our hands-on tests show that these are the 6 top silver brokers in 2026:

Tested with a live trading account Accepts traders from Zimbabwe Your capital is at risk. Trade only with funds you can afford to lose.

1. Our top pick in Zimbabwe
   1

   XM

   4.8/ 5

   Visit XM Read review
   • Demo account
   • Platforms: MT4, MT5, TradingCentral
   • Min. deposit: $5
2. 2

   RoboForex

   4.5/ 5

   Visit RoboForex Read review
   • Demo account
   • Regulator: FSC
   • Platforms: R StocksTrader, MT4, MT5, TradingView
3. 3

   Fusion Markets

   4.6/ 5

   Visit Fusion Markets Read review
   • Demo account
   • Regulator: ASIC, VFSC, FSA
   • Platforms: MT4, MT5, cTrader, TradingView, DupliTrade
4. 4

   Markets.com

   4.4/ 5

   Visit Markets.com Read review
   • Demo account
   • Regulator: ASIC, CySEC, FSCA, BVI FSC
   • Platforms: Web Platform, MT4, MT5, TradingCentral
5. 5

   FBS

   4.3/ 5

   Visit FBS Read review
   • Demo account
   • Instruments: CFDs, Forex, Indices, Shares, Commodities
   • Regulator: ASIC, CySEC, FSCA, FSC
6. 6

   BlackBull

   4.5/ 5

   Visit BlackBull Read review
   • Demo account
   • Regulator: FMA, FSA
   • Min. deposit: $0

Learn how we test brokers and why you can trust our ratings.

Here is a short summary of why we think each broker belongs in this top list:

1. XM 4.8/5 XM is a globally recognized forex and CFD broker with 20+ million clients in 190+ countries. Since 2009, this trusted broker has been delivering low trading fees across its growing roster of 1000+ instruments. It also offers a comprehensive MetaTrader experience that we've observed firsthand placing test trades.
2. RoboForex 4.5/5 RoboForex is an online broker, established in 2009 and registered with the FSC in Belize. Traders can choose from five accounts (Prime, ECN, R StocksTrader, ProCent, Pro) catering to different needs with trades from 0.01 lots and spreads from 0 pips. RoboForex has also enhanced its offering over the years, adding CFD instruments and launching its stock trading platform, plus the CopyFX system.
3. Fusion Markets 4.6/5 Fusion Markets is an online broker established in 2017 and regulated by the ASIC, VFSC and FSA. It is best known for its low-cost forex and CFD trading, although its multiple account types and copy trading solutions cater to a range of traders. New clients can sign up and start trading in 3 easy steps.
4. Markets.com 4.4/5 Established in 2008, Markets.com is a long-standing, multi-regulated broker with oversight from the CySEC and FSCA. It offers unique features to track hedge fund moves and insider trades, while providing stock signals to alert traders to market opportunities. Its choice of accounts (Classic to Professional) caters to all levels of active trader. 72.3% of retail accounts lose money.
5. FBS 4.3/5 Founded in 2009, FBS is an award-winning CFD broker operating in over 150 countries with a client base exceeding 27 million traders. Traders are supported at every stage of their journey with 24/7 assistance, market analytics, trading calculators, and competitive pricing with zero commissions.
6. BlackBull 4.5/5 BlackBull is a New Zealand-based CFD broker providing diverse trading opportunities on over 2,180 instruments. After undergoing a rebrand in 2023, it now sports a modern look and feel complete with professional-grade trading tools and ultra-fast execution speeds averaging 20ms.

Community Sentiment

See how users rate these brokers based on the average customer ratings submitted on DayTrading.com, plus ratings from Trustpilot, the Apple App Store and Google Play.

Community Sentiment

Broker	Our Users' Rating	Trustpilot Score	Trustpilot Reviews	iOS App Rating	Android App Rating
XM	4.6 / 5	2.0 / 5	3078	4.7 / 5	3.9 / 5
RoboForex	4.4 / 5	2.0 / 5	775	4.7 / 5	4.4 / 5
Fusion Markets	3.6 / 5	4.8 / 5	10249	4.8 / 5	4.4 / 5
Markets.com	1.0 / 5	3.6 / 5	1258	3.1 / 5	3.5 / 5
FBS	4.6 / 5	4.3 / 5	10224	4.6 / 5	4.9 / 5
BlackBull	4.0 / 5	4.7 / 5	3519	3.7 / 5	3.7 / 5

XM

4.8/ 5

Visit XM XM review

With a low $5 minimum deposit, advanced charting platforms in MT4 and MT5, expanding range of markets, and a Zero account offering spreads from 0.0, XM provides all the essentials for active traders.

XM quick facts

Demo Account

✔Yes

Instruments

CFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, Energies

Regulator

CySEC, DFSA, FSCA, SCA, FSA, FSC-Belize, FSC-Mauritius, CMA-Kenya, CMA-UAE

Platforms

MT4, MT5, TradingCentral

Minimum Deposit

$5

Minimum Trade

0.01 Lots

Account Currencies

USD, EUR, GBP, JPY, ZAR

Commodities

XM offers trading of 14 commodities:

• Cocoa
• Coffee
• Copper
• Corn
• Cotton
• Gold
• Natural Gas
• Oil
• Palladium
• Platinum
• Silver
• Soybeans
• Sugar
• Wheat

Pros

• XM stands out for its commitment to trader education, with a wealth of well-presented resources, including webinars, tutorials, and even real-time trading sessions through XM Live.
• XM’s Zero account is ideal for day trading with spreads from 0.0 pips, 99.35% of orders executed in <1 second, and no requotes or rejections.
• XM’s customer support has delivered over years of testing, with 24/7 assistance in 30 languages, response times of under 2 minutes and a growing Telegram channel.

Cons

• While the XM app stands out for its usability and exclusive copy trading products, the selection of technical analysis tools needs to be improved to meet the needs of advanced traders.
• XM is falling behind the curve by not offering cTrader, which is favored over MetaTrader by some serious traders for its smoother user experience and superior charting package.
• XM relies solely on the MetaTrader platforms for desktop trading, so there’s no in-house downloadable solution for a more beginner-friendly user experience with unique features.

Visit XM XM review

RoboForex

4.5/ 5

Visit RoboForex RoboForex review

RoboForex is great if you want a vast range of 12,000+ day trading markets with ECN accounts, powerful charting and loyalty promotions. It also stands out for stock traders with its user-friendly R StocksTrader platform, featuring 3,000+ shares, fees from $0.01 and sophisticated watchlists.

RoboForex quick facts

Demo Account

✔Yes

Instruments

CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Crypto

Regulator

FSC

Platforms

R StocksTrader, MT4, MT5, TradingView

Minimum Deposit

$10

Minimum Trade

0.01 Lots

Account Currencies

USD, EUR

Commodities

RoboForex offers trading of 14 commodities:

• Cocoa
• Coffee
• Copper
• Corn
• Gold
• Natural Gas
• Nickel
• Oil
• Palladium
• Platinum
• Silver
• Soybeans
• Sugar
• Wheat

Pros

• In 2026, RoboForex introduced swap-free trading across all accounts, removing overnight interest charges, and potentially appealing to swing forex traders, though spreads and commissions may still apply.
• In July MobileTrader Telegram Mini App was released - bringing out one of the first solutions we've seen that lets users execute trades and manage positions without leaving the Telegram messaging app.
• RoboForex is known for its tight spreads starting from 0 pips and low minimum deposits from $10, making it accessible to those on a budget. The ability to trade with micro lots further lowers the barrier to entry for new traders.

Cons

• Despite 15+ years in the industry and registering with the Financial Commission, RoboForex is authorized by one ‘Red-Tier’ regulator – the FSC in Belize, lowering the level of regulatory protections for traders.
• RoboForex now restricts base currency options to USD and EUR. This limitation may inconvenience day traders preferring to manage their accounts in other currencies, while potentially leading to conversion fees.
• While RoboForex offers competitive spreads, some of its account types come with high trading commissions up to $20 per lot, trailing the cheapest brokers, such as IC Markets.

Visit RoboForex RoboForex review

Fusion Markets

4.6/ 5

Visit Fusion Markets Fusion Markets review

Fusion Markets is a standout option for forex traders looking for excellent pricing with spreads near zero, industry-low commissions and recently TradingView integration. It’s a particularly good broker for Australian traders where the company is headquartered and regulated by the ASIC.

Fusion Markets quick facts

Demo Account

✔Yes

Instruments

CFDs, Forex, Stocks, Indices, Commodities, Crypto

Regulator

ASIC, VFSC, FSA

Platforms

MT4, MT5, cTrader, TradingView, DupliTrade

Minimum Deposit

$0

Minimum Trade

0.01 Lots

Account Currencies

USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD

Commodities

Fusion Markets offers trading of 19 commodities:

• Aluminium
• Cocoa
• Coffee
• Copper
• Corn
• Cotton
• Gold
• Lead
• Natural Gas
• Nickel
• Oil
• Orange Juice
• Palladium
• Platinum
• Silver
• Soybeans
• Sugar
• Wheat
• Zinc

Pros

• Withdrawal processing times have been slashed to under an hour and can be processed 24/7, making it faster and easier for active traders to withdraw any gains.
• Fusion Markets is set up to support algo traders with a sponsored VPS solution and a 25% discount if you opt for the NYC Servers VPS for MT4 or cTrader.
• Average execution speeds of around 37 milliseconds are noticeably faster than many rivals and can help day traders secure optimal prices in fast-moving markets.

Cons

• The demo account expires after 30 days, limiting its potential as a useful trading tool alongside a real-money account.
• Traders outside of Australia must sign up with weakly regulated global entities with limited safeguards, though in August 2026 they made negative balance protection available to all eligible accounts.
• While the selection of currency pairs trumps most rivals, the broker's alternative investment offering is average with no stock CFDs beyond the US.

Visit Fusion Markets Fusion Markets review

Markets.com

4.4/ 5

Visit Markets.com Markets.com review

Markets.com is best suited to retail investors who trade frequently but don’t want to calculate commissions, thanks to its spread-only pricing (EUR/USD around 1.3 pips). It especially appeals to short-term traders who value fast execution, flexible asset choice spanning 2,200+ instruments and proprietary tools like hedge fund confidence indices and insider trade alerts.

Markets.com quick facts

Demo Account

✔Yes

Instruments

CFDs, Forex, Stocks, Commodities, Indices, Crypto, ETFs, Bonds

Regulator

ASIC, CySEC, FSCA, BVI FSC

Platforms

Web Platform, MT4, MT5, TradingCentral

Minimum Deposit

$200

Minimum Trade

0.01 Lots

Account Currencies

USD, EUR, GBP, AUD, ZAR, SEK, NOK, DKK, CHF, PLN, CZK

Commodities

Markets.com offers trading of 10 commodities:

• Coffee
• Corn
• Cotton
• Gold
• Natural Gas
• Oil
• Palladium
• Platinum
• Silver
• Wheat

Pros

• Markets.com’s Hedge Fund Confidence and Insider Trading tools pulls SEC filings into the dashboard within 24 hours of disclosure, helping to spot fund moves and C-suite buys before most retail newsfeeds updated.
• Switching between the proprietary web platform (great for alerts and quick analysis) and MT5 (strong for algorithmic EAs) was smooth in our tests; positions synced across desktop, web, and mobile without gaps or re-quotes.
• Within the 2,200+ CFDs, Markets.com offers thematic baskets like the Warren Buffett Blend and Cannabis Blend, which behaved like ready-made mini-ETFs during testing, saving the work of balancing weights manually.

Cons

• The proprietary web platform felt a bit basic once we pushed into advanced charting with fewer drawing/indicator options than full TradingView or MetaTrader.
• Inactivity charges kick in after just 3 months, while variable spreads are wider than top ECN brokers during testing, which may deter day traders and high-frequency traders.
• While CySEC and FSCA oversight is solid, the SVGFSA and BVIFSC entities offers 1:500 leverage under a light-touch framework, meaning protections like compensation schemes and strict conduct rules lag behind the strictest regulatory standards.

Visit Markets.com Markets.com review

FBS

4.3/ 5

Visit FBS FBS review

FBS is an excellent choice for day traders at every level and budget, with just a $5 minimum deposit and intensive academy for aspiring traders alongside access to MT4 and MT5.

FBS quick facts

Demo Account

✔Yes

Instruments

CFDs, Forex, Indices, Shares, Commodities

Regulator

ASIC, CySEC, FSCA, FSC

Platforms

FBS App, MT4, MT5

Minimum Deposit

$5

Minimum Trade

0.01 Lots

Account Currencies

USD, EUR, AUD, JPY

Commodities

FBS offers trading of 6 commodities:

• Gold
• Natural Gas
• Oil
• Palladium
• Platinum
• Silver

Pros

• FBS strikes the balance between robust features and ease of use, with a sign-up process taking <10 minutes, an intuitive app, advanced research through Market Analytics & more recently VIP Analytics, plus immersive education through the FBS Academy and Trader’s Blog.
• 24/7 customer support that performed excellently during testing is available, alongside a $5 minimum deposit, and a huge variety of 200+ funding options, making it ideal for traders with small accounts.
• The trading firm has picked up over 90 awards and amassed more than 27 million clients, making it one of the largest and most established brokers globally.

Cons

• Despite enhancing the selection of currency pairs, now providing over 70, FBS still trails industry leaders like BlackBull Markets in its market offering with a particularly narrow selection of commodities and indices.
• There are only four base currencies available - EUR, USD, AUD and JPY (region dependant) - which isn't practical for minimizing currency conversion fees for many global traders, and is especially striking given the broker’s user base spans over 150 nations.
• Although the FBS app offers a terrific mobile trading experience for aspiring traders and MT4/MT5 cater to advanced traders, the absence of cTrader and TradingView, which are increasingly offered by alternatives like Pepperstone, will deter day traders familiar with these platforms.

Visit FBS FBS review

BlackBull

4.5/ 5

Visit BlackBull BlackBull review

After improving its trading infrastructure with Equinix servers in London, reducing latency for traders, BlackBull is an obvious choice if you want to day trade stock CFDs with ECN pricing. With competitive spreads and no commission on a growing roster of digital tokens paired with USD, BlackBull also works for active crypto traders.

BlackBull quick facts

Demo Account

✔Yes

Instruments

CFDs, Stocks, Indices, Commodities, Futures, Crypto

Regulator

FMA, FSA

Platforms

BlackBull Invest, BlackBull CopyTrader, MT4, MT5, cTrader, TradingView, AutoChartist

Minimum Deposit

$0

Minimum Trade

0.01 Lots

Account Currencies

USD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, SGD

Commodities

BlackBull offers trading of 16 commodities:

• Aluminium
• Cocoa
• Coffee
• Copper
• Corn
• Gasoline
• Gold
• Lead
• Natural Gas
• Oil
• Palladium
• Platinum
• Silver
• Sugar
• Wheat
• Zinc

Pros

• With two ECN-powered accounts (Standard and Prime), plus Prime+ - an active trader rewards program offering trading rebates - BlackBull accommodates beginners through to high-volume active traders.
• After partnering with ZuluTrade and Myfxbook, alongside improvements to its own CopyTrader, and finally enabling cTrader Copy, BlackBull offers one of the most comprehensive copy trading experiences we've seen.
• BlackBull is a much greater fit for aspiring traders following the overhaul of its ECN Prime account, now featuring improved spreads averaging 0.16 on EUR/USD and a more accessible minimum deposit of $0 compared to the old $2,000.

Cons

• Despite a growing selection of 2,180+ assets, including additions to its Asia Pacific indices, they are mainly stocks with an average selection of currency pairs and indices.
• Although the Education Hub now features improvements like webinars and tutorials, the courses we’ve explored need more focus on explaining the wider economic factors influencing prices.
• Unlike most top brokers, BlackBull charges an irritating $5 withdrawal fee, which can detract from the overall cost-effectiveness, especially for active traders who frequently move funds.

Visit BlackBull BlackBull review

Understanding The Silver Market

When it comes to precious metals trading, gold is a more popular market:

• Large institutions buy gold as a currency hedge when interest rates and yields on other assets decrease.
• Central banks prioritize buying the yellow metal as a reserve asset to diversify their currency exposure.
• Gold is also more popular with retail traders than its cheaper ‘sister’ metal.

Yet it would be a mistake to describe the silver market as insignificant. Silver is one of the world’s top 10 commodities by trading volume: on the day this guide was written, a whopping 79,972 silver futures contracts changed hands on The Commodity Exchange (COMEX) in the US.

And, while gold is used primarily as an investment asset, silver serves as both a key industrial commodity as well as a store of value.

It is also widely used in the manufacture of jewellery, and cumulative demand for the metal has soared in recent years.

According to The Silver Institute, global silver demand struck a record high of 1.24 billion ounces in 2022, up 18% year on year. Off-take rose across most categories, with physical silver investment rising 22% from the prior year (to 332.9 million ounces).

Pros and Cons Of Trading Silver

Pros

Cons

What Drives Silver Prices?

Like all commodities, prices are subject to the laws of supply and demand and are highly sensitive to macroeconomic and geopolitical conditions.

Signs of excess or deficient mine production also influence silver values.

The malleable metal is extremely versatile and thus has a broad assortment of applications:

• Its conductivity makes it a key component in the manufacture of electronics and solar panels.
• High reflectivity means it is a core material in mirrors and photographic film.
• Its role as a catalyst for various chemical reactions means it is widely used in the chemical industry.
• Silver is a cherished material in jewellery production thanks to its aesthetic qualities (one-fifth of demand).

This all means that silver prices are extremely sensitive to broader economic conditions. As such, news on the following can impact demand and silver trading prices: Global growth, consumer spending, manufacturing output and employment levels.

The Gold-Silver Ratio

Just like gold, silver is a safe-haven asset that investors flock to when market confidence sinks. It is used as a store of value during times of inflation, and as a wealth preserver during times of economic stress or uncertainty. For this reason, silver prices often closely track those of gold.

The gold-silver ratio is a historical metric used to appraise the relative value of these precious metals and is calculated by dividing the price of gold per ounce by the price of silver per ounce.

The gold-silver ratio has averaged around 15 to 1, meaning it would take 15 ounces of silver to buy one ounce of gold. Changes in the ratio can affect silver prices by influencing trader behaviour.

A high ratio, for example, can suggest that the grey metal is undervalued in comparison to gold, prompting a rush of buying interest and a surge in prices.

Different Ways To Trade Silver

Physical Silver

As with gold, or many of the other precious metals, physical silver is popular with investors seeking to benefit from appreciating prices.

Silver bars are the most cost-effective way for investors to purchase the metal in large quantities. This is because coins often feature intricate and detailed designs that require extra costs to manufacture.

Many mints and retailers also offer to store silver on behalf of their customers. This, along with taking out insurance to cover against loss and damage, means that investors in actual metal often endure additional expenses.

We recommend these firms if you want to invest in physical silver:

Spot Contracts

A spot contract involves buying or selling a specified amount of the dual-role metal at the current market price for immediate settlement.

Spot silver agreements are traded by a wide range of individuals and institutions. Mining companies, manufacturers and jewellers, for instance, will buy these contracts to hedge against adverse price movements.

Traders meanwhile can trade them to diversify their portfolios and speculate on price movements.

Future Contracts

Silver is – like most commodities – mostly traded through the exchange of futures contracts.

These financial instruments state that a pre-agreed amount must be bought and sold for a set price and within a specified timescale. The prices of these contracts are based on spot silver values.

Futures are derivative vehicles, which means that they derive their value from the price of an underlying asset.

They are especially effective for commodities trading, as they allow traders to speculate on market movements without having to worry about taking physical delivery.

Silver futures are primarily traded on several major commodity exchanges:

• COMEX in the US
• Multi Commodity Exchange (MCX) in India
• Shanghai Futures Exchange (SHFE) in China

Options Contracts

Options are another common way for individuals to trade silver. As the name implies, they provide owners with the choice as to whether to buy or sell a quantity of the underlying asset later on and at a pre-set price (known as the strike price).

This gives traders much more flexibility, although this advantage over futures contracts attracts a higher price.

As with other types of derivatives, traders can choose to take either a long or a short position with silver options.

In other words, they have a chance to make money when the price of the precious commodity rises or falls in value.

Here you can see a series of quotes on silver futures on COMEX. On the left are prices for call options, which give the contract owner the right to buy the metal. Prices for put options, which allow holders to sell silver on the expiration date, can be seen on the right.

Another reason why futures and options are so popular is because they allow individuals to use substantial levels of leverage, which is effectively a loan from a broker.

Contracts for Difference (CFDs)

Derivatives known as contracts for difference (CFDs) are especially popular with short-term traders and day traders wishing to use leverage.

Gearing for these financial instruments is especially high, though the maximum leverage available varies according to the broker and the regulatory environment in the specific jurisdiction.

Here you can see an example of a CFD silver trade at Plus500. This broker allowed leverage of 1:10 (or 10%) for this particular trade, meaning that a trader would have to put down an initial deposit (or margin) of just $248.15 to control a position worth a total value of $2,481.50.

Using leverage can be a powerful weapon when you’ve invested correctly on how the silver market will move. However, when prices move in the ‘wrong’ direction traders can end up with thumping losses.

Even small price fluctuations can have a massive impact on the account balance, and traders may have to deposit extra funds to cover losses.

Silver Stocks

Traders can profit from rising metal prices by buying shares in silver-producing stocks.

Alternatively, they can make money when the metal value falls by taking a short position in one or more of these commodities companies.

Silver is rarely found in a pure metallic form. Instead, it is usually extracted alongside other elements including copper, lead, zinc and gold.

As a result, successful trading in silver shares also usually requires these other base and precious metals to rise in price.

The share prices of silver miners often track the value of the underlying metal. You can see this from the graph below which shows the market movement of FTSE 100-listed Fresnillo, the world’s biggest silver miner. When prices rise, shareholders usually see the value of their holdings increase, and vice versa.

Yet as you can also see above, trading a silver stock doesn’t always pay off, even when prices of the commodity increase. This is because share prices are dependent on operational factors as well as movements in the silver market.

The graph above shows a near-20% decline in Fresnillo’s share price as soaring costs put a squeeze on profits.

Exchange-Traded Funds (ETFs)

Also traded on stock markets, exchange-traded funds (ETFs) are financial instruments that are designed to track the precious metal price.

If a trader thinks the metal will become more valuable they can buy an ETF like the iShares Silver Trust. When silver prices set by the London Bullion Market Association (LBMA) appreciate, the value of the fund follows suit.

ETFs are highly liquid, cheap to trade, and allow individuals to diversify by getting exposure to a basket of different assets.

ETFs also allow individuals to execute a variety of different trading strategies. For example, someone who thinks silver metal values will fall can go short with the ProShares UltraShort Silver ETF.

Meanwhile, investors who want to get exposure to a selection of silver miners can buy the Global X Silver Miners ETF. At the time of writing, this fund held shares in 32 different silver producers.***

How To Start Trading Silver

1. Learn about the silver market – BullionVault and Kitco are a couple of good sources of precious metals news and market information. Organizations like trade body The Silver Institute and metals refiner Johnson Matthey also provide valuable information on silver supply and demand.
2. Choose a broker – The key things to consider are the fees and commissions for silver trading and the quality of the platform. Traders should also choose a firm regulated by a trusted body. Importantly, the best brokers offer educational materials and analysis of silver markets to help traders identify opportunities.
3. Place a trade – Once you have opened an account, log in to your broker’s platform to make a trade. Day traders may opt for a vehicle like CFDs to profit from short-term changes in silver prices using leveraged funds. Also make use of risk management tools like stop-loss orders to cap your potential losses.

Bottom Line

Online traders have a wide selection of financial instruments they can use to profit from silver. Many of these make use of leverage, too, a tool that can significantly amplify short-term trading profits.

As with any asset class, traders should do plenty of homework before they begin trading silver. And particularly those who adopt the high-risk strategy of using borrowed funds.

* Total trading volumes on 22 November, 2023
** Prices stated as of 24 November, 2023
*** Holdings current as of 24 November, 2023