Silver (XAG/USD) is one of the leading precious metals after gold (XAU/USD). However, the majority of forex brokers only provide major pairs and gold because there are not as many people interested in trading silver. This is quite unfortunate since silver can generate huge returns just like gold.

Fortunately, traders nowadays have access to some of the best brokers for trading silver. These brokers generally have good characteristics in regulation, low spreads, and minimum deposits.

1. Exness

At Exness broker, traders have the opportunity to engage in commodity trading, including silver. Spreads for silver always float from 0.5 pips (on the Zero account), but can widen during periods of lower market liquidity. Usually, such spread spikes will disappear once liquidity returns to normal.

On Wednesdays, Exness implements triple swap rates for silver trading positions and other metal pairs. This is to compensate for market closures during weekends when no swaps are charged.

In terms of regulation and reputation, Exness has obtained licenses from several well-known regulatory bodies such as FCA, CySEC, FSA (Seychelles), and several others. This broker allows traders to open an account with a minimum deposit of $10.

2. FBS

When trading silver with FBS broker, the leverage ratio is set at 1:500, providing greater opportunities for small-cap traders to aim for high returns. It is important to note that the leverage for silver is separate from that set in the Personal Area, which only applies to forex and forex exotic instruments. With a minimum spread of 0.01, FBS traders can confidently trade silver to make a profit in precious metals.

FBS is regulated by FCA, CySEC, FSC (Belize), ASIC, and FSCA. Founded in 2009, the broker allows clients to trade with a minimum deposit of $5.

3. MIFX

Similar to gold trading without physical buying and selling, MIFX broker also provides silver trading in such manner. The advantages are instant order executions, accurate pricing based on the global spot market, high liquidity, and low transaction costs. The BAPPEBTI-regulated broker only charges a minimum spread of 0.01 with a commission of $10 per lot.

Silver trading at MIFX can be done online with a minimum deposit of IDR500,000 (about $32). Additionally, MIFX provides a mobile app for faster and easier silver trading with real-time trading signals. For experienced traders who want more features, this forex broker also provides MIFX MetaTrader.

4. IC Markets

IC Markets Global provides a convenient and flexible solution for traders to access a wide range of popular commodity CFDs, including silver. This forex broker facilitates XAG trading directly from the MetaTrader 4, MetaTrader 5, cTrader, and even TradingView platforms.

Traders can trade silver against the US Dollar or Euro as a currency pair, with leverage up to 1:1000 and deposits from $200. This offering allows traders to gain exposure to silver spot prices easily and efficiently. The minimum spread is 0.000 pips (on the Raw Spread account) for both XAG/USD and XAG/EUR pairs.

IC Markets is an international forex broker regulated by ASIC, CySEC, and FSA (Seychelles).

5. Octa

At Octa broker, silver trading has become more accessible and cost-effective compared to other brokers. They waive commissions so traders can focus solely on their trades to maximize profits. With the lowest spread at 2.2 pips, Octa allows clients to start trading with a minimum deposit of $25. Additionally, traders can benefit from leverage of up to 1:200.

As a regulated broker that has obtained licenses from CySEC and FSA (Saint Vincent and the Grenadines), Octa is always committed to support clients' trading education. This broker provides market insights and analysis directly on the traders' platforms or mobile devices. Plus, traders can also trade wilver on the MT4 and MT5 platforms.

Conclusion

Which forex broker will you choose to trade silver? Whichever broker you are lucky to work with, there is one thing you need to pay attention to: Your trading success depends not only on the choice of the broker but also on the trading strategy and money management.

Therefore, choose the best broker for silver trading that best suits your strategy and supports your financial ability.