Last year I get my hands on natural gas trading (commodity trading). I tested a few strategies for natural gas trading. Some of the strategies resulted in gains, while others involved losses. I shared natural gas trading strategy for beginners that works for me.
I tested Zerodha, 5paisa, and Upstox accounts for natural gas trading. Commodity trading requires a broker that offers real-time data, an easy-to-use trading platform, numerous charting & screening tools, technical indicators, and deep research.
I have shortlisted the 7 best commodity brokers in India based on different flavors like cheap brokerage, robust trading platforms, plenty of technical indicators, and advisory services (if you need handholding in your trading journey).
Best Commodity Broker In India
#1. Zerodha
You can trade in 14+ commodities including precious metals like Gold. Each commodity has different segments such as Gold has 4 types further – Gold, Gold M, Gold Guinea, and Gold petal.
Zerodha has a simplistic and stable trading platform Kite that allows you to seamlessly trade in your favorite commodity. Zerodha offers 100+ charting and more than 250 technical indicators to help you deeply analyze the market trend.
Regarding brokerage, Zerodha charges flat Rs. 20 per order against commodity trading.
Features of Zerodha
| Account opening fee | Rs. 200 (for equity) + Rs. 100 (for commodities) |
| Annual maintenance fee | Rs. 300 annually |
| Brokerage (Equity, commodity and currency) | Equity delivery – Free Options trading – Flat Rs. 20 per order Other segments – 0.03% to Rs. 20 per order (whichever is lower) |
You can go through our detailed Zerodha Review article for discovering further about the Zerodha Demat account platform.
#2. Angel One
Angle One offers flat Rs. 20 brokerage for commodity trading along with advisory services.
If you are a newcomer who requires some handholding while trading commodities, then Angel One is an ideal choice. You get a dedicated relationship manager to help you with your trading decisions.
Angel One also has offline sub-broker offices in 900+ cities if you want to personally connect with someone for further guidance.
In terms of the trading platforms, Angel has a powerful web platform and you can also enjoy trading on the go as the Angel One app is simple and easy to use.
Features of Angel One
| Account opening fee | Zero |
| Annual maintenance fee | Rs. 450 per year |
| Brokerage (Angel iTrade Prime Plan) | Equity delivery – Free Commodity F&O – Flat Rs. 20 per order Other segments – Flat Rs. 20 per order |
#3. ICICI Direct
If you have a savings account with ICICI, you can open an ICICI Direct 3-in-1 account that is savings, Demat, and trading account.
ICICI Direct offers a discounted brokerage of Rs. 20 per order for commodity trading.
You can efficiently trade using ICICI Direct’s in-house trading platform called Trader Racer Web. Apart from a fast and stable trading platform, you can also get new insights on commodity market trends from ICICI Direct’s 3 tools –
- iClick2Gain – keeps you updated with live trading recommendations to make informed trading decisions during market hours.
- Weekly report – provides critical information about how different commodities went through the last week.
- Monthly view – A detailed analysis of the whole month’s commodity market behaviour is helpful in future trading decisions.
Features of ICICI Direct
| Account opening fee | Rs. 299 |
| Annual maintenance fee | Rs. 300 per year |
| Brokerage (ICICI Direct Neo plan) | Flat Rs. 20 per order |
#4. Edelweiss
Edelweiss is a full-service broker with an 8 lakh client base in India. Edelweiss has recently introduced its lite plan with low-cost brokerage of flat Rs. 10 per order.
You can enjoy in-depth research advisory at the cost of a discount broker.
You also get comprehensive market information for commodities through its Terminal X3 trading platform. Terminal X3 is equipped with advanced features like data analytical tools, and 60+ advanced indicators and you can also create multiple watchlists on the dashboard.
Features of Edelweiss
| Account opening fee | Zero |
| Annual maintenance fee | Rs. 300 |
| Brokerage (Equity, commodity and currency) | Flat Rs. 10 per order |
If you want to know more about top stock brokers in India, then reading our list of best demat and trading accounts in India, would be useful for you.
#5. 5paisa
5paisa helps you trade in around 16 commodities available on their platform. You have to pay a nominal brokerage of Rs. 20 per order.
But if you are into heavy trading, then you can go with their Ultra trader plan which will reduce the brokerage to Rs. 10 per order and your net banking plus DP transaction charges will also be waived off.
Along with commodity trading 5paisa also becomes a one-stop shop for you that allows you to go for insurance, loan, gold investment, wealth management as well as US stocks from the 5paisa app only.
Features of 5paisa
| Account opening fee | Zero |
| Annual maintenance fee | Rs. 25 per month |
| Brokerage | Regular Plan – Flat Rs. 20 per order Power Investor – Flat Rs. 10 per order (monthly charges Rs. 599) Ultra Trader – Flat Rs. 10 per order (monthly charges Rs. 1199) |
#6. Upstox
Upstox also offers flat Rs. 20 brokerage per order similar to the above-discussed brokers. But you’ll get the benefit of free account opening and a lifetime free trading account. Whereas you have to pay some AMC (annual charges) with the other brokers.
Upstox also has a snappy platform called “Upstox Pro”, you can enjoy glitch-free, user-friendly UI on both the web and mobile app.
You also get 250+ technical indicators and charting tools for deep technical analysis of commodity market trends.
Features of Upstox
| Account opening fee | Zero |
| Annual maintenance fee | Zero |
| Brokerage (Equity, commodity and currency) | Equity delivery – 2.5% to Rs. 20 per order (whichever is lower) Options trading – Flat Rs. 20 per order Other segments – 0.05% to Rs. 20 per order (whichever is lower) |
You can also read our complete guide on Upstox review for a detailed analysis of the Upstox broker.
#7. Wisdom Capital
Wisdom capital is popular for its cheapest brokerage at Rs. 9 per order for your commodity futures and options trades.
You can invest in 10 major Agri and non-agri commodities via Wisdom capital’s NEST trader terminal platform.
Nest platform is one of the most robust, and stable terminal-based trading platforms that allows you to create real-time data widgets that generate triggers, and price alerts as per your requirements.
Wisdom capital is an ideal choice for you if you are looking for a low-cost broker for your commodity trading endeavors.
Features of Wisdom Capital
| Account opening fee | Zero |
| Annual maintenance fee | Rs. 999 |
| Brokerage (Equity, commodity and currency) | Equity trading – 0.01% per order Commodity trading – Flat Rs. 9 per order Other segments – Flat Rs. 9 per order |
If you want a low-cost broker that doesn’t charge you much, then go through our latest guide on free demat accounts with no annual charges in India.
The Verdict
You can go with Zerodha to trade in more than 20 commodities such as Gold, Natural gas, and many more at a flat brokerage of Rs 20 per order along with a simple & robust trading platform.
Angel One is another favorite for commodity trading that allows you to trade at discount brokerage and you get advisory services at no extra cost.
You can also join ICICI Direct if you have savings account in ICICI Bank, you’ll get a free 3-in-1 account for commodity trading. Along with in-depth analysis reports for your commodity trades on a daily, weekly, monthly, and even yearly basis.
FAQ
Equity investment is more suitable for long term investment goals while commodity trading is a better choice for short term gains. It’s important to consider the differences in ownership and holding time frames between commodities and equities.
Gold, oil, and base metals are among the most commonly traded commodities in the market.
Gold is considered one of the most powerful commodities due to its stable price compared to other commodities. Gold’s price is influenced by the performance of the global economy.
Zerodha is one of the best commodity brokers in India. Zerodha offering a wide range of commodities for trading, a simplistic and stable trading platform, and low brokerage charges of flat Rs. 20 per order.
Yes, brokers like Zerodha and 5paisa allow you to trade in multiple commodities from a single trading account.
Zerodha is a discount broker that allows trading in 14+ commodities with a flat brokerage of Rs. 20 per order. It offers a simplistic and stable trading platform, Kite, with 100+ charting and 250+ technical indicators.
Angel One offers a flat brokerage of Rs. 20 per order along with advisory services, and you get a dedicated relationship manager to help you with your trading decisions.
Products under MCX commodities are:
#1. Non-Agri Commodities
- Base Metal: Aluminium, Alumini, Copper, Lead, Lead mini, Nickel, Zinc, Zinc mini and MCX Metldex.
- Bullion: Gold, Gold mini, Gold guinea, Gold petal, Silver, Silver mini, Silver micro and MCX Bulldex.
- Energy: Crude oil, Crude mini, Natural gas, Natural gas mini and MCX Enrgdex.
#2. Agri Commodities – Cotton candy, Black pepper, Caster seed, Crude palm oil, and Kapas
#3. All Other agri commodities – Mentha oil
A commodity account is a type of trading account that allows you to invest and trade in commodities such as gold, silver, metals, energy, agri-commodities, and other non-agri commodities.
