NerdWallet's Best Online Brokers for Futures Trading and Commodities of May 2021
Here are the five best futures trading platforms for 2021.
Identifying Top Commodity Markets
| Commodity | Average Daily Volume (ADV) | Open Interest |
|---|---|---|
| Crude Oil (WTI) | 687,479 | 2,187,168 |
| Corn | 532,269 | 1,505,976 |
| Henry Hub Natural Gas Future | 466,455 | 1,233,792 |
| Soybeans | 192,684 | 807,569 |
Fidelity Investments: Best Overall. TD Ameritrade: Best Broker for Beginners and Best Broker for Mobile. tastyworks: Best Broker for Options and Best Broker for Low Costs. Interactive Brokers: Best Broker for Advanced Traders and Best Broker for International Trading.
Choosing a trading platform
With a TD Ameritrade account, you'll have access to thinkorswim, a powerful trading platform for futures trading, as well as other investments.
The lowest opening balance for a futures broker account is around $2,500. Most commodity futures brokers require new account holders to deposit a minimum of $5,000 to $10,000. A new trader should compare the requirements of several brokers along with the other costs and services provided.
Risk four ticks per trade and 2% of the account, and you only need to maintain a balance of $2,500. Some futures brokers require a $10,000 minimum deposit to start day trading futures.
Expiration Dates for Stocks, Indexes
| 2019 | 2020 | 2021 |
|---|---|---|
| March 15 | March 20 | March 19 |
| June 21 | June 19 | June 18 |
| September 20 | September 18 | September 17 |
| December 20 | December 18 | December 17 |
Futures: More than commodities
You can also trade futures of individual stocks, shares of ETFs, bonds or even bitcoin. Some traders like trading futures because they can take a substantial position (the amount invested) while putting up a relatively small amount of cash.
No matter if you're trading metal, energy, or cryptocurrency futures, action is never in short supply. Because of their inherent sensitivity, crude oil, gold, and Bitcoin are among the most volatile commodities in the world.
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