TOP-5 Commodity Trading Simulators for Backtesting and Practice

Trading commodities like gold, oil, and natural gas requires precision and strategy, and a reliable commodities trading simulator is very important for improving trading skills without financial risks. Whether you’re testing strategies, practicing trades, or learning the dynamics of commodity markets, using the best commodity trading simulator can provide realistic market conditions and essential tools.

In this article, we review the TOP-5 commodity trading simulators, detailing their features, available commodities, and functionality. From gold trading simulators to simulated oil futures platforms, find out which tool suits your needs for backtesting and practice.

Best Commodity Trading Simulators

When choosing the best commodity trading simulator, it’s essential to find platforms that offer realistic market data, a variety of commodities, and reliable backtesting tools.

Each commodity trading simulator provides features for practicing trades on commodities like gold (XAUUSD), crude oil, and natural gas. Whether you’re looking for a gold backtesting platform or an oil trading simulation, these tools offer valuable insights and risk-free practice. Let’s explore their key features, available commodities, and compatibility, including commodities trading simulation apps for iPhone users.

Below are the top 5 commodities trading simulation software options that cater to beginners and advanced traders.

1. Forex Tester Online

Forex Tester Online is a comprehensive Forex, crypto, stock, and commodities trading simulator designed for precise backtesting and realistic practice. It provides traders with advanced tools to analyze, refine, and optimize their strategies using historical data in a simulated environment.

Key Features

• High-fidelity backtesting. Test months or years of strategies in minutes with tick-by-tick data, ensuring accurate simulations for various trading scenarios.
• Diverse assets. The platform supports 45 symbols, including 7 commodities such as gold (XAUUSD), crude oil, and natural gas, alongside currency pairs, indices, and cryptocurrencies.
• Multiple charts and timeframes. Simultaneously view up to 8 charts across different symbols and timeframes, allowing for in-depth analysis and efficient testing.
• Real market conditions. Simulate real-world trading dynamics, including floating spreads, commissions, swaps, and margin requirements, to mirror live market conditions effectively.

Available Commodities

Forex Tester Online provides a solid selection of commodities, catering to traders focused on gold backtesting, oil trading simulations, and simulated oil futures. Supported commodities include:

1. XAU (Gold) – you can backtest as far back as May 2003.
2. XAG (Silver) – you can backtest as far back as May 2003.
3. SILVER (COMEX Silver Futures) – you can backtest as far back as January 2014.
4. NG (Natural Gas Futures) – you can backtest as far back as January 2018.
5. GAS (Natural Gas) – you can backtest as far back as September 2012.
6. LIGHT (Light Crude Oil) – you can backtest as far back as January 2013.
7. USOIL (West Texas Intermediate Crude Oil) – you can backtest as far back as November 2019.

High-quality data for all of them is updated daily.

Forex Tester Online is one of the best simulated trading platforms for commodities, offering a reliable and customizable environment for backtesting and practice. Its focus on gold trading simulators, oil nat gas trading simulators, and real-time accuracy makes it a top choice for traders seeking actionable insights.

2. The Wall Street Survivor

The Wall Street Survivor is a free commodity trading simulation game designed to help beginners learn trading through hands-on experience. It combines a real-time stock market simulator with interactive educational tools to create an accessible and risk-free environment for traders.

Key Features

• Free stock and crypto simulator. Start with a virtual $100,000 and trade real-time U.S. stocks, ETFs, options, and cryptocurrencies.
• Educational resources. Access free step-by-step courses, videos, and articles covering essential topics like stock basics, portfolio diversification, and options trading.

While the primary focus is on stocks and crypto, Wall Street Survivor is a good game for practicing trades and building foundational skills, which are transferable to commodities trading simulators and gold trading simulators.

Wall Street Survivor provides a beginner-friendly platform with a risk-free simulation experience and engaging educational content. This combination makes it ideal for traders looking to practice strategies before moving on to more complex commodities trading simulation software.

However, this platform is not advanced enough for experienced users. This game is good for you if you want to have fun and learn some trading basics, but not to backtest strategies and practice real trading.

3. PocketOption

PocketOption is another trading platform offering access to over 100 global assets, including commodities, stocks, and currency pairs. Its user-friendly interface and diverse features make it a reliable commodities trading simulator for both beginners and experienced traders.

Key Features

• Flexible trading. Choose from digital trades, quick trades, Forex MT5, pending orders, and trade copying.
• Demo account. Test strategies risk-free with $50,000 of virtual money before trading with real funds.

Available Commodities

PocketOption supports 5 popular commodities:

• Gold OTC
• Silver OTC
• Natural Gas OTC
• Platinum spot OTC
• Palladium spot OTC

So, PocketOption combines a straightforward interface, a decent demo account, and advanced trading tools. Its accessibility, variety of commodities, and low trade minimums make it a suitable commodities trading simulation app for beginners and intermediate traders.

4. eToro

eToro is a widely recognized trading platform and a versatile platform for trading multiple assets, including commodities, currencies, stocks, and cryptocurrencies. This is not a backtesting tool or trading simulator, but it has a demo account feature which can be user for practice.

Key Features

• Multi-Asset Platform. eToro offers trading opportunities in commodities, forex pairs, indices, and cryptocurrencies, making it a suitable choice for users looking for an all-in-one commodities trading simulation app.
• CopyTrading. Beginners can mimic experienced traders’ moves to practice strategies in a simulated environment before transitioning to live markets.
• Demo Account. Start with a virtual portfolio to practice trading without any financial risk. The demo account includes $100,000 of virtual funds, allowing for safe strategy testing.

Available Commodities

eToro provides access to 41 commodities, including gold, platinum, zink, silver, oil, gas, wheat, coffee, and much more, making it the largest commodities list among all platforms on this list. However, even with a large list of assets, the platform has rather limited functionality for simulation and backtesting.

5. Forex Tester

Forex Tester is a powerful commodities trading simulation software tailored for advanced backtesting and strategy development. It is recognized as one of the best simulated trading platforms for commodities, offering traders detailed simulations and historical market data.

Key Features

• High-fidelity backtesting. Forex Tester allows traders to test strategies using tick-by-tick historical data spanning over 21 years, ensuring accuracy and diversity of time frames.
• Trusted by over 1.000.000 traders. Forex Tester was launched in 2006. This is one of the most popular, reliable and trusted backtesting / trading simulation tool on the market.

With lots of advanced features and tools, it is one of the best choices for commodity trading simulations.

However, it is only available offline, and only for Windows devices. If you are looking for an online platform, available in browser on any device, we recommend you try Forex Tester Online, developed by the Forex Tester team.

Available Commodities

Forex Tester supports all major commodities, including Silver, Oil, and Gold (XAUUSD). There is more than enough data to test your strategies in the realistic environment.

What Characteristics Should You Consider Before Choosing a Commodity Trading Simulator?

Leaving unimportant aside, the most crucial factors when choosing a commodity trading simulator are:

• backtesting features
• available assets
• data quality
• user reviews.

Reliable commodities trading simulation software should offer advanced backtesting tools for testing strategies under real or historical market conditions, including accurate gold backtesting and oil trading simulations.

Check if the simulator provides access to key commodities like crude oil, gold, and natural gas. High-quality tick-by-tick or real-time data is essential for realistic simulations, especially for simulated oil futures and oil nat gas trading simulators.

Finally, read user feedback (on AppStore or TrustPilot, for example) to make sure the platform delivers a user-friendly experience and reliable performance.

Also read:

• Best Forex trading simulators
• Best crypto trading simulators
• Best stock trading simulators

FAQ

What is a commodity trading simulator?

A commodity trading simulator is a platform that allows traders to practice trading commodities using virtual money under real or simulated market conditions. It helps traders test strategies without financial risk.

Which is the best commodity trading simulator for backtesting?

Tools like Forex Tester Online are highly regarded for backtesting due to their accurate tick-by-tick historical data and customizable testing speeds.

Can I trade commodities, stocks, crypto, and Forex at the same time?

Yes, most top trading simulation software offer access to multiple asset types. And you can even run several charts of different assets at the same time.

What makes commodities different from stocks?

Commodities are physical goods like gold, crude oil, wheat, coffee, or natural gas, while stocks represent ownership in a company (Apple, Microsoft, etc).

Commodities are primarily traded through futures contracts, with prices driven by global supply, demand, and external factors like geopolitics or weather. Stocks, however, are influenced by company performance and tend to be less volatile compared to commodities.

How accurate is the data in a commodity trading simulator?

High-quality simulators use real-time or historical tick-by-tick data to mirror live markets.

Can I backtest commodities on a Mac?

Forex Tester Online is an online browser tool. So it’s compatible with MacOS, Windows, and Linux, as well as Android and iOS. Any browser, any operating system: both mobile and desktop.