Which brokers are best for multi-commodity trading?
Verdict
- Pepperstone is our best broker for multi-commodity trading in Australia: 40 commodity CFDs on one ASIC-regulated account, spanning gold, other metals, energy and soft commodities, each with its own published leverage tier.
- Retail leverage at Pepperstone is 1:20 on gold and 1:10 on other metals, energy and softs, so a mixed book ties up very different margin per dollar of exposure.
- Gold, WTI and Brent can also be traded as 24/7 perpetual CFDs, which helps when commodity news breaks at the weekend.
- Our data doesn't list every one of the 40 contracts, so confirm the specific markets you want in the platform before funding.
Trading several commodities from one account is mostly about margin. Each class carries a different leverage limit, and a few positions that look small on their own can tie up much of your balance. Here's how Pepperstone structures it, and how to size a basket so one bad day in crude doesn't close your gold trade.
Why Pepperstone suits a commodity basket
Pepperstone Group Limited (ASIC, AFSL 414530) counts 40 commodity CFDs on its Australian accounts (March 2025 data), next to 93 currency pairs and 26 indices, all drawing on one margin balance. Gold has a published average spread of 0.12 on Razor, and both accounts run on MT5, cTrader and the Pepperstone app, with MT4 and TradingView added on Razor. That suits someone who trades metals, energy and softs from the same charts.
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Margin per A$10,000 of exposure, by commodity class
Note the metals line: even a professional client stays at 1:10 on metals other than gold in Australia, so the pro upgrade does little for a silver or copper trader.
| Class | Retail leverage | Retail margin per A$10,000 | Pro leverage |
|---|---|---|---|
| Gold | 1:20 | A$500 | 1:500 |
| Other metals | 1:10 | A$1,000 | 1:10 |
| Energy | 1:10 | A$1,000 | 1:20 |
| Softs | 1:10 | A$1,000 | 1:50 |
Sizing a three-commodity book
Say you hold a A$5,000 account and want exposure to gold, crude and a soft commodity:
- A$20,000 of gold at 1:20 uses A$1,000 of margin.
- A$10,000 of crude at 1:10 uses A$1,000.
- A$5,000 of a soft commodity at 1:10 uses A$500.
- Total: A$2,500, half the account, before any losses. A 3% adverse move across all three costs A$1,050, about a fifth of your balance.
- Commodities can move together on broad risk events, so don't assume a basket spreads risk the way a share portfolio might.
Contract types available
- Cash commodity CFDs: no expiry, with overnight financing on positions held past the daily rollover.
- Perpetual CFDs on GOLD, WTOIL and BRENTOIL: trade 24/7, with commission of 0.03% per side on gold and 0.015% on the others, plus daily funding. Pepperstone's Australian pages don't say whether retail clients can use them.
- Real-World Assets CFDs: Pepperstone has a market page for them, but we hold no verified details, so ask before treating them as a commodity route.
Capital.com as a second account
Capital.com (AFSL 513393) is our second choice. It lists 20:1 on gold for Australian retail clients and offers guaranteed stop-losses, a useful safeguard on energy and softs, which can gap. It runs its own platform and app plus MT4, MT5 and TradingView, from a $20 minimum. Our data holds no count of its commodity markets or its commodity spreads, so compare the symbol list before treating it as a like-for-like alternative.
Sources
Instrument counts, leverage and perpetual terms as published.
How many commodities does Pepperstone offer in Australia?
Its account table counts 40 commodity CFDs (data from March 2025).
Can I trade agricultural commodities at Pepperstone?
Its leverage table has a separate softs tier at 1:10 for retail clients. Our data doesn't name each contract, so check the platform's symbol list for the ones you want.
Does trading more commodities raise my risk of a margin close-out?
Yes. All positions share one balance, so a loss on one can reduce the margin available to the others.
CFDs on commodities are complex, leveraged instruments with a high risk of rapid losses. Holding several at once can multiply that risk. Consider the PDS and TMD and your own circumstances; nothing on this page is investment advice.