Currently, South Africa produces 80% of the platinum that is traded, with the remaining 20% going to Russia and North America. Platinum trades at a higher unit price because it is a relatively rare precious metal. It is said that platinum is 15 to 20 times rarer than gold. 160 tons of platinum were mined in 2021. In contrast, 17,000 tons of silver and 2,600 tons of gold were mined.
Not all exchanges offer platinum trading. However, it is supported by two major exchanges: the London Platinum and Palladium Market and the New York Mercantile Exchange (NYMEX). The platinum market was valued at USD 6.5 billion in 2019 and is expected to grow at a compound annual growth rate of 5.0% by 2027.
Finding a broker is your first priority. The secret to successful long-term trading is finding the right broker. Consider their reputation, platforms and tools, as well as cost, demo accounts and regulations, when doing your research. Plus500 offer you all these tools to succeed in platinum trading. A demo account can be set for free and for unlimited time period.
Once you've chosen your broker, you need to develop your plan and place an order. Consider a trade based on the spread between platinum and other precious metals using options or futures if you are a more experienced trader. If you are new to trading platinum, you may choose to trade CFDs for added security. Whichever approach you use, make sure it is always backed by a solid risk management system to reduce losses.
Finally, keep an eye on your chosen position(s). To put yourself in the best possible position analyze the market, consult with experts, and make sure you are aware of the most recent news and developments.
Platinum trading has a lot to offer as an investment strategy. This once overlooked asset has recently shown its real potential, whether you want to hedge, hold capital or engage in global expansion. It is expected to continue its momentum as developing countries grow and demand for platinum increases. To increase your chances of success, choose the best broker and implement a well thought out plan. In addition, we advise you to use charts, analytical concepts and prices to their full potential.
Pepperstone is well-regarded for offering a robust trading environment for platinum traders. With competitive spreads, advanced trading tools, and fast execution speeds, Pepperstone stands out as an excellent choice for both novice and experienced traders.
Plus500 offers a secure and user-friendly platform for trading platinum. With numerous regulatory licenses and strong investor protection measures, Plus500 is ideal for traders seeking a reliable platform for various financial instruments.
XM excels by providing extensive educational resources and practical online workshops to support platinum traders. Its user-friendly interface and comprehensive support make XM a great choice for beginners.
Pepperstone offers a wide range of trading instruments, including platinum. Their focus on tight spreads, fast execution, and advanced trading platforms makes it an excellent choice for platinum traders.
Licenses | CySEC, BaFin, FCA, SCB, CMA |
Minimum Deposit | $0 |
Trading Platforms | MT4, MT5, cTrader |
Asset Coverage | Forex, Commodities, CFDs, Cryptocurrencies, Indices |
Customer Support | 24/5 |
Account Types | Standard, Razor, Swap-free |
Plus500 is a trading platform focused on providing investment services for platinum traders. It features an easy-to-use interface and powerful trading tools, and is fully licensed and regulated, offering a secure trading environment for investors.
Licenses | FCA, CySEC, ASIC |
Minimum Deposit | $100 |
Trading Platforms | WebTrader, Windows 10, Mobile Apps |
Asset Coverage | Forex, Commodities, CFDs, Cryptocurrencies, Indices |
Customer Support | 24/7 |
Account Types | Standard, Professional |
XM is a global trading platform focused on providing investment services for platinum traders. XM is renowned for offering advanced educational materials for traders and provides a flexible and reliable trading environment with 24/7 customer support.
Licenses | CySEC, ASIC, IFSC |
Minimum Deposit | $5 |
Trading Platforms | MT4, MT5, WebTrader |
Asset Coverage | Forex, Commodities, CFDs, Cryptocurrencies, Indices |
Customer Support | 24/7 |
Account Types | Various, including Islamic accounts |