Commodities spread betting is a spread bet priced per point on the underlying futures or spot price of an energy, metal or agricultural market. The markets include crude oil and natural gas, gold, silver and copper, and wheat, coffee and sugar, which means profit or loss on each equals the points the market moves multiplied by the stake per point. The FCA leverage limit is 20:1 (5% margin) for gold and 10:1 (10% margin) for other commodities. Most commodity prices are quoted in US dollars.
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Published Commodity Spreads And Market Counts
| Market | Class | Point definition | Published spread (broker) | Read on | Brokers publishing one |
|---|---|---|---|---|---|
| Gold (XAU/USD) | Metal | varies by broker, not verified | from 0.08 points (Pepperstone); from 0.3 points (City Index, IG) | 25 Aug 2026 | 3 of 14 |
Gold is the one commodity market for which any of the 14 brokers we rank publishes a spread on a page a server-side read can reach; every other commodity market is quoted live on the platform only. The gold figures, with the page each was read from, are on our Gold Spread Betting page.
| Broker | Commodity markets published | Read on | Source |
|---|---|---|---|
| CMC Markets | 100+ | 25 Aug 2026 | cmcmarkets.com |
| Pepperstone | 40 | 25 Aug 2026 | pepperstone.com |
| IG | 35 | 25 Aug 2026 | ig.com |
| City Index | 20+ | 25 Aug 2026 | cityindex.com |
| ActivTrades | 17 | 25 Aug 2026 | activtrades.co.uk |
| ThinkMarkets | 3 | 25 Aug 2026 | thinkmarkets.com |
Six of the 14 brokers we rank publish a count of their commodity markets; the other eight publish none on a page we could read, so no figure appears for them. Spreads change monthly; to compare spread betting brokers on the current figures, use the ranked table.
What Commodities Can You Spread Bet With
As you do not need to physically own to spread bet commodities, brokers offer a large range of markets. These are:
Precious Metals
Precious metals are probably the most liquid commodity markets available for spread betting due to their importance in industrial usage and the storage of wealth.
Gold Spread Betting Markets
Gold is the most popular commodity traded and you’ll see that it’s got a ticker of XAU/USD, this is because gold is pegged to the US dollar. Compared to other commodities, gold’s price is less volatile and seen as a hedge against market uncertainty which is why the price rises during crises.
Silver
A silver spread bet is priced on the spot silver price, quoted in US dollars per troy ounce, and staked in £ per point. The spread is the difference between the buy and sell price and is your cost to trade. Your profit or loss is the number of points moved multiplied by your stake per point.
Silver trades as XAG/USD on most platforms. It moves with industrial demand as well as with the safe-haven flows that drive gold, because electronics, solar and jewellery consume it.
Other metals include:
- Platinum
- Palladium
- High-Grade Copper
- Copper
- Aluminium
- Zinc
- Iron Ore
- Lead
- Nickel
Energy Markets
Energy markets cover oil and gases that are traded on the exchange which are very liquid products but are also sensitive to market news.
Oil Spread Betting Markets
Oil comes in multiple options like the UK’s Brent Crude Oil, and the WTI Crude Oil which are the main benchmarks for the price of oil. Global economic growth impacts the oil demand, so fundamental analysis combined with technical analysis makes this market a top pick for day trading.
Other energy markets for spread betting include:
- Natural Gas
- UK Natural Gas
- London Gas Oil
- Heating Oil
Agricultural Commodities
Agricultural commodities (soft commodities) are any products to do with livestock and farming, which tend to be traded by professional traders as these have lower liquidity in comparison. These are less popular which can be shown by the few markets spread betting brokers offer, and some brokers don’t even offer soft commodities.
Soft commodities for spread betting include:
- Wheat
- Corn
- Soybeans
- Rice
- Cotton
- Coffee
- Sugar
- Cocoa
- Orange Juice
Commodity Futures
Some brokers like IG Group provide spread betting on commodity futures contracts, which reduces the nightly rollover fees but widens the spreads. Spread betting on commodity futures is ideal if you want to hold onto the position for longer than a week, as the trading fees will be lower over time.
Commodity Options
Another method of spread betting commodities is through options, which allows you to bet on the price direction of a commodity while benefiting from market volatility and limited risks.
With spread betting options, you pay a premium to open the bet, which becomes your maximum loss (no matter how far the market moves against you). Options have unlimited upside potential as you benefit from the price movement and the contract’s volatility, which can increase your profits further compared to traditional spread bet and CFD trading.
Commodities are one of the five classes on our Spread Betting Markets hub, beside indices, currency pairs, shares, and bonds and interest rates.
Leverage, Tax And Stops Are Covered Once
- How a commodity bet is staked and closed: What Is Spread Betting?
- Opening an account and placing a first bet: Spread Betting For Beginners In The UK
- The 20:1 and 10:1 limits and the margin behind them: Spread Betting Leverage
- Whether the profit is taxed: Is Spread Betting Tax Free In The UK?
- Ordinary and guaranteed stops on a market that gaps: Spread Betting Stop-Loss Orders
Spread betting is leveraged, so losses can exceed what you set out to risk on a bet. Across the 14 providers we compare, between 61% and 76.6% of retail investor accounts lose money when trading spread bets and CFDs.
Commodities Spread Betting FAQs
Which commodities can you spread bet on?
You can spread bet on energy commodities such as crude oil and natural gas, metals such as gold, silver and copper, and agricultural markets such as wheat, coffee and sugar. Each, gold spread betting included, is priced per point on the underlying futures or spot price.
What leverage applies to commodity spread bets?
Gold has a leverage limit of 20:1 (5% margin) and other commodities 10:1 (10% margin). Brokers close positions when the margin falls to 50% of the required level.
What Is The Spread In A Commodities Market?
The spread is the difference between the buy and sell price of the commodity on offer, and this is the fee the broker charges to execute your spread bet.
If you want to work out the spread and the total trading costs associated with your spread bet, you should use a spread betting calculator that can help confirm your costs.
Commodities Spread Betting Legal In UK?
Spread betting commodities is legal in the UK and you can spread bet on a wide range of commodities from crude oil to soybeans. The Financial Conduct Authority, one of the world’s top regulators, regulates spread betting, protecting you from malpractice within the brokering industry.
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