MCX commodity trading can be a powerful way to diversify your portfolio and hedge against inflation, but success largely depends on using the right trading platform.
Commodity trading on the Multi Commodity Exchange (MCX) has become increasingly popular among Indian investors looking to diversify beyond equities. MCX allows trading in commodities like gold, silver, crude oil, natural gas, copper, zinc, and agricultural products.
Choosing the right trading platform is crucial; it impacts execution speed, research quality, costs, and overall trading experience. Below is a curated list of the top platforms for MCX commodity trading in India, based on usability, pricing, features, and reliability.
Top Platforms for MCX Commodity Trading
Related Articles
Groww has rapidly evolved from a mutual fund and equity investment and trading app into a full-fledged financial services platform that also includes MCX commodity trading. On Groww, users can trade major commodities like gold, silver, crude oil, natural gas, zinc, copper, aluminium, and electricity through the Multi Commodity Exchange (MCX).
Key Features:
- One of Groww’s standout features is its unified trading balance, which means you can use the same funds to trade equities, derivatives, and commodities without complicated balance transfers.
- Trades are executed super fast, with Groww touting sub-0.05-second execution speeds for smooth order placement.
- Real-time price feeds, live market data, and clear margin requirements right in the interface.
- Its option chain view lets you see all relevant contract data, including strike prices, premiums, and open interest, without switching screens.
- Groww APIs for automated commodity trading
- Groww applies a straightforward brokerage model, charging the same flat fee it uses for equity F&O (₹20 per executed order).
Upstox
Upstox offers competitive brokerage rates and a modern user interface that caters to traders who actively monitor commodity markets. Its performance during high-volatility sessions makes it particularly attractive to traders.
Key Features:
- Low brokerage for MCX trades
- Charts powered by TradingView
- Fast order placement and execution
- Clean and responsive UI
HDFC Securities
HDFC Securities also offers access to MCX commodity trading, primarily catering to investors who value a bank-backed brokerage experience. The platform provides research-backed insights, stable trading infrastructure, and seamless fund transfers for HDFC Bank customers.
Key Features:
- Seamless fund transfers via HDFC Bank
- Research-backed commodity insights
- Secure and stable trading infrastructure
- Relationship manager support
5Paisa
5Paisa has grown rapidly in recent years as a cost-effective discount broker offering MCX commodity trading with transparent flat-fee pricing. What makes 5Paisa attractive is its simplified pricing model that keeps costs low for traders.
Key Features:
- Mobile app and web platform
- Affordability and straightforward execution
Angel One
Angel One combines discount brokerage with strong research support, making it suitable for traders who rely on expert insights. It appeals to traders who rely on expert guidance to make informed decisions. With a robust mobile app and support, the platform suits both traditional and tech-savvy commodity traders.
Key Features:
- AI-based recommendations
- Dedicated commodity research reports
- SmartAPI for algo traders
- Robust mobile app (Angel One App)
ICICI Direct
ICICI Direct provides MCX commodity trading as part of its full-service brokerage offering. Backed by ICICI Bank, the platform emphasises trust, security, and comprehensive customer support. ICICI Direct offers in-depth research and advisory services, which appeal to investors looking for guided commodity trading rather than purely self-directed execution.
Key Features:
- Integrated trading and banking experience
- Detailed research and advisory services
- Multiple order types and risk management tools
- Strong offline and online support
Conclusion
MCX commodity trading can be a powerful way to diversify your portfolio and hedge against inflation, but success largely depends on using the right trading platform. Choose a platform that aligns with your trading style, experience level, and cost preferences.
Disclaimer: Commodity trading on MCX involves market risk and may not be suitable for all investors. Please assess your financial situation and risk tolerance, and consult a qualified advisor if needed before trading.
