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Commodity CFD trading at Saxo Bank

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Adam N.
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Is Saxo Bank a good broker for commodity CFDs?

Are you interested in commodity CFD trading, including even niche products, and wondering if Saxo Bank offers these at competitive fees?

Saxo Bank offers a vast selection of commodity CFDs at still-tolerable fee levels; ideal for traders who prize choice even when it comes at a slightly higher cost.

I recommend Saxo Bank for its strong commodity line-up, even if fees aren't the best.
Adam
Adam Nasli
Financial Wizard | Trading • Safety • Market Analysis

The years I've spent reviewing CFD brokers armed me with a solid understanding of the complex world of commodity CFDs. Since CFDs are a convenient but potentially risky way to trade commodities, I suggest you heed the following points:

  • Product selection and fees make all the difference when trading commodity CFDs.
  • Saxo Bank's commodity CFD portfolio covers a wide array of market sectors.
  • Commodity CFD trading fees at Saxo Bank aren't the best on the market.
Commodity CFDs - an AI rendition

Unsure about Saxo Bank or simply interested in CFD trading beyond commodities? Check out our list of the best CFD brokers in 2024 to pick a well-priced and easy-to-use broker platform.

Before you start trading, we invite you to go through the CFD trading tips and strategies we consider most important.

BrokerChooser score
4.9 4.9 /5
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Product selection and fees make all the difference when trading commodity CFDs

Similarly to other markets, the key to mitigating risk in commodity trading is diversification; but it's hard to diversify your portfolio unless you have a great selection of commodity CFDs at your disposal.

If you're primarily a stock or forex CFD trader and merely want to dip your toe in the commodity CFD market, you may be content with a handful of mainstream options like crude oil or gold. But if your main focus is commodity CFDs, you should look for a broker that offers CFDs from a wide range of commodity sectors such as rare metals or agricultural products, providing more exotic choices such as palladium or soybeans.

The best commodity CFD brokers often provide several dozen or sometimes more than 100 commodity CFD products. This variety ensures that traders can diversify their portfolio and hedge against market volatility. A broad product choice also often hints at a broker's expertise and commitment to the commodity CFD market.

Just as important as the product selection are a broker's CFD fee structure and fee levels. These directly impact profitability, especially for those who trade frequently or in large volumes. Trading fees such as spreads and financing rates will make up the bulk of your costs, but non-trading fees such as withdrawal and inactivity fees can also sting if you don't use your account wisely.

Unfamiliar with these terms? Read our overview of the most important CFD fees.

In addition to simply low fees, a transparent fee structure without hidden costs is preferable, as it allows you to calculate potential returns more accurately.

Saxo Bank's commodity CFD portfolio covers a wide array of market sectors

Saxo Bank offers 20 different commodity CFDs to trade, a bigger-than-average selection that is ideal for traders seeking a well-rounded commodity CFD portfolio. The range of commodities offered by Saxo Bank caters to both conventional and niche interests, in sectors ranging from energy and precious metals to agricultural commodities.

Saxo Bank commodity CFD trading at a glance
Commodity CFD
Yes
Commodity CFDs (#)
20
Overall score
4.9 stars

Data updated on April 15, 2024

Commodity CFD trading fees at Saxo Bank aren't the best on the market

Unfortunately, the fees charged by Saxo Bank for trading CFDs in general are average, meaning you can probably find a more competitive provider if trading costs are your primary focus. Our list of the best CFD brokers in 2024 is a good place to start.

What is a good way to calculate a broker's CFD trading fee levels? We do it by looking at a hypothetical trade that involves a $2,000 trading position with 20:0 leverage that is held for one week. This way, we can incorporate spreads, commissions and financing rates under a common benchmark. Once again, read our overview of CFD fees to learn more about these fee types.

Check out this short video for a behind-the-scenes peek into how our experts personally test and evaluate brokers.

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Author of this article

Adam Nasli

Financial Wizard | Trading • Safety • Market Analysis

I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

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