If you’re looking to trade gold as a commodity, the brokers have made it incredibly convenient. But with convenience comes complexity; commodity markets are riskier than they may appear at first glance.
In this article, we’ll go through what you should know about commodity (gold) trading apps and then explore some of the best apps (especially in India) that can help you trade gold.
Understand the product
Trading gold as a commodity (e.g., futures contracts on the Multi Commodity Exchange of India (MCX)) is distinct from holding physical gold or “digital gold”. For example, the MCX provides regulated futures/derivatives.
Apps offering digital gold (i.e., buying fractions of 24‑carat gold stored in vaults) are not the same as trading on a regulated exchange. Many users confuse the two. With derivatives, margin, leverage, expiry, and contract size all matter. The risk is higher than simply holding a commodity.
Best Commodity Trading Apps for Gold
Groww
Groww is the one-stop app for equities + F&O + now commodities. Since it uses the same account for equities, F&O, and commodities, you don’t need multiple broker accounts. For gold trading specifically, Groww supports gold futures/options via its commodity segment on the MCX and NSE commodity segments. The app supports “super fast execution” for trades.
The best part is that you can increase your trading margin for gold derivatives by pledging stock holdings on Groww.
Key features:
- You can trade gold (including variants like “Gold”, “Gold Mini”, “Gold Ten”, “Gold Guinea”, and “Gold Petal”) via Groww’s commodity dashboard.
- Use the same balance and infrastructure you already have for stocks; there is no need to open a separate commodity account (if the F&O segment is active).
- Real‑time news and trends for commodities like gold are integrated into the app.
- Simplified UI for traders familiar with Groww’s stock/mutual fund segments; this lowers the barrier for gold trading.
- Flat brokerage, i.e., ₹20 per executed order
Zerodha Kite
Zerodha’s commodity‑trading offering is quite comprehensive. Through the Kite app and the associated account, you can trade commodity futures and options (including gold).
Some key strengths:
- Transparent brokerage: For commodity futures the charge is “₹20 or 0.03% per executed order, whichever is lower”.
- Single ledger: You can use the same funds (from your equity account) to trade commodities (after enabling the segment) rather than maintaining a separate pool. This reduces operational friction.
Dhan
Dhan’s commodity‑trading offering is quite feature‑rich. It offers a dedicated commodity trading experience: gold, silver and more; you can trade futures & options directly from charts in the app or web.
Key features & costs:
- Reported cost for commodities: ₹20 or 0.03% per executed order.
- Strong toolset: options chains, strategy builder, advanced analytics
5paisa
5paisa is another discount broker that offers commodity trading (including on the Multi Commodity Exchange of India Ltd – MCX). Their commodity trading page notes that once the derivatives segment is activated, you can trade commodity futures and options.
Brokerage is very transparent, they charge a flat brokerage of around ₹20 per executed order (across equity/intraday/F&O/commodities) in the standard plan.
Key features
- Advanced charting tools, online onboarding for commodity segment.
- Simple cost structure, decent entry point.
Upstox
Upstox is a discount broker which allows commodity futures trading (including gold derivatives). One advantage is that you can open the commodity segment online. On the technology side, Upstox markets charting tools, real‑time streaming data, and platforms (web and mobile) designed for traders.
Some key strengths:
- Low brokerage: For commodity futures, Upstox quotes ₹20 per executed order or 0.05% (whichever is lower). For commodity options, it’s a flat ₹20 per executed order.
- Easy online onboarding: You can open a commodity account online.
- Advanced platform: Offers many indicators, charts, and analysis tools
Conclusion
Trading gold through commodities can be a rewarding opportunity, but success depends as much on the broker and platform you choose as on market knowledge. The best commodity trading apps combine low and transparent brokerage, reliable execution, advanced charting tools, and access to the full range of gold derivatives.
