Purple Trading Review

Minimum Deposit: $20 VISIT BROKER
74.20 % of retail investor accounts lose money when trading CFDs with this provider.

Purple Trading Review

Summary

Czech and Slovak trading enthusiasts founded Purple Trading in 2016. This is a Cyprus-based broker and provides support in Polish, which is a plus point for local clients. Purple Trading is an online CFDs and forex broker that provides all traders with reliable and fair trading conditions, regardless of investment amount or experience level. CySEC and ESMA regulate, and several authorities such as FCA, KNB, and CONSOB authorise the parent company of the broker, L.F. Investment Limited. The broker currently accepts only EU clients. Purple Trading has a vast product portfolio over various asset classes such as forex, cryptocurrencies, commodities, indices, stocks, CFDs, and CFDs futures. Purple Trading also offers ETFs investment portfolios for investors. The broker offers MT4 and cTrader trading platforms with true STP and ECN executions and plenty of indicators available for market analysis. Trading costs at Purple Trading are very low. Purple Trading also has a lucrative education section.

8.6Expert Score
Purple Trading Rating

Purple Trading was built for those who take trading seriously. For traders with great ambitions, with a passion for financial markets and a determination to work on themselves.

Investment Products
9
Commissions and Fees
8
Platforms and Tools
9
Research and Education
8.5
Deposit and Withdrawal
8.5

Purple Trading Review

Pros and Cons

Purple Trading is a regulated broker and provides direct market access to its dedicated clients. Traders can trade enjoy user-friendly trading with MetaTrader 4 or trade with a more diversified experience via cTrader. The investors can look up ETFs investment portfolios of the broker to diversify their risk. The broker has liquidity provided by top-tier EU banks so that its clients can enjoy seamless order executions.

On the other hand, Purple Trading requires a minimum deposit of $20 to start trading. The broker does not offer its services out of the EU and has no banking license. Purple trading does not publicly disclose its financial statement, and restricted leverage is offered to non-professional clients. There is a separate cryptocurrency account in which only cryptocurrencies can be traded. In addition, the broker charges a withdrawal fee for some payment methods.

Positives
  • Regulated broker
  • STP/DMA accounts available
  • Good choice of trading platforms
  • Wide range of market products
  • Investment portfolios
  • Low-cost trading
  • Fast executions
  • Various account types
  • Various funding options
  • Commission-free trading
  • PAMM
  • Copy trading
  • FIX API
  • Trading tools
  • Educational resources
  • Loyalty program
  • Friendly customer support
  • Low minimum deposit
  • Demo account
Negatives
  • EU clients only
  • Islamic accounts not offered
  • No MT5
  • Inactivity fee
  • Deposit and withdrawal fee

Purple Trading Review

Investment Products

Purple Trading provides a wide range of trading instruments in a variety of asset classes, including forex, cryptocurrency, stocks, shares, indices, commodities, and CFDs. To trade cryptocurrencies, Purple Trading offers a dedicated crypto account. However, the broker does not offer options or bonds to trade.

Purple Trading Instruments Summary

InstrumentsPurple Trading
Forex
Stocks
Indices
Commodities
Cryptos
Optionsx
Bondsx
ETFs
CFDs
Purple Trading Instruments

Purple Trading Review

Commission and Fees

Commission and Spread Fees

Purple Trading offers trading at a very low cost in terms of spreads and commissions. Traders can choose to trade with tight spreads starting from 1.3 pip on an STP account with zero commission. Otherwise, they can choose to trade spreads as low as 0.3 pip and a $10 commission per standard lot per round trip. Moreover, on ECN accounts, clients are provided different statuses (Starter, Standard, Prime, and VIP) based on their performance, loyalty, and balance. Consequently, they are rewarded with less commission moving up.

Fee STP/DMA Account ECN Account Pro Account
Commission (per standard lot per side)$0$10$0
Spreads from1.30.30.6
Purple Trading Fees

Deposit and Withdrawal Fees

Purple Trading has different fee criteria for different payment options. Such as there is no deposit fee while using bank transfers or debit/credit cards. However, a 2% deposit fee is charged while depositing via electronic wallets.

On the other hand, Purple Trading also charges a withdrawal fee for some payment options. For example, the broker charges €7 against debit/credit card transfers and 1-2% against electronic wallet transfers.

Inactivity Fees

Purple Trading charges a $15 inactivity fee once in a quarter from dormant accounts.

Purple Trading Review

Platforms and Tools

On Purple Trading, clients can use two online trading platforms: cTrader and MetaTrader 4 (MT4). However, the broker does not offer the MT5 trading platform. Both platforms are available for download on desktop, mobile, and tablet devices and are compatible with all major online browsers.

MetaTrader 4 (MT4)

Nearly all traders use or have used MT4 across the world to trade financial markets. It includes a variety of trading tools and resources to aid in the market analysis as well as quick and effective order execution and management. It is regarded as an all-in-one platform with a short learning curve for traders of all skill levels. Purple Trading MT4 makes use of an MT4 bridge that is linked to top-tier interbank liquidity providers (LPs). Here are some remarkable features of MT4:

  • Customisability
  • Market watch
  • True interbank market liquidity
  • Swift execution
  • Multiple order types
  • 11 time frames and 3 chart types
  • One-click trading
  • 40+ Technical indicators
  • Charting objects
  • Push notifications via SMS or email
  • Automate your trading with expert advisors (EAs)
  • Available on Windows, Mac, Android, and iOS devices
Purple Trading MT4 Platform
Purple Trading MT4 Platform

cTrader

Purple Trading offers the cTrader platform by Spotware Systems Ltd. cTrader is well-known for combining a simple user interface with more complex trading tools and a very user-friendly back-end configuration. It is regarded as the ideal trading solution, meeting the demands of the vast majority of traders. cTrader is accessible via Windows, the web, and mobile platforms. In terms of spreads and costs, cTrader provides trading circumstances that are fairly comparable to MT4 accounts. It provides quick and direct STP/ECN market access. cTrader takes advantage of presenting depth of market (DOM) data, which can improve price transparency. Here are some cool features of cTrader:

  • STP/ECN and DMA
  • Depth of market (DOM)
  • VWAP (Volume Weighted Average Price)
  • 60+ technical indicators
  • Charting objects
  • 26 timeframes
  • Multiple order types
  • Modern interface
  • Custom indicators
  • Automate your trading with cTrader Automate
Purple Trading cTrader Platform
Purple Trading cTrader Platform

WebTrader

Purple Trading offers trading via WebTraders of both MT4 and cTrader platforms. The MT4 online platform operates natively in most current web browsers, without the need for any additional software to be downloaded or installed. Purple Trading provides cTrader for web, a fully web-based application built on HTML5 design and featuring an easy-to-use and configurable graphical interface. It works with the most popular web browsers without downloading or installing any extra software.

Purple Trading MT4 Web Platform
Purple Trading MT4 Web Platform

Mobile Trading

Purple Trading provides the freedom of trading on the go. Mobile trading platforms of MT4 and cTrader are available on Android and iOS devices. On the MT4 mobile app, users may do the same key tasks as on the desktop platform, such as chart analysis, opening, managing, and closing trades, receiving push alerts, and more. On the other hand, cTrader mobile is also a highly responsive trading software that includes all of the same key features as the desktop platform.

Purple Trading MT4 Mobile App
Purple Trading MT4 Mobile App

FIX API

The FIX API is designed for the real-time transmission of trade-related data. Professional traders use it to eliminate the need for intermediation software and get data directly to their tools and spreadsheets. Advanced developers and quant traders can use their own customised algorithms and black boxes to connect to the Purple Trading server and leverage the FIX (Financial Information Exchange) price data feeds by using the FIX API. This enables a direct link to institutional liquidity sources, resulting in shorter latency and higher fill rates.

Purple Zone

Purple Zone is Purple Trading’s customer back-end area, where you can access anything from creating new accounts to account overviews, deposits, withdrawals, and an integrated multi-trader. It is available in numerous languages, is mobile-friendly, and offers rapid automated deposits.

Purple Trading Purple Zone
Purple Trading Purple Zone

Trading Tools

Purple Trading offers a variety of trading tools to its customer.

Purple Trading Indicators

Purple Trading provides clients with some unique MT4 indicators that have been developed by a team of in-house professionals. These indicators use large historical data to forecast likely market moves. They can be utilised independently or as part of a larger trading strategy that includes technical, fundamental, price movement, and sentiment research. Here are the indicators Purple Trading offers:

  • Purple Bands Indicator
  • Purple Levels Indicator
  • Purple Strike Indicator
  • Purple Extreme Indicator

Purple Trading Platforms Summary

PlatformPurple Trading
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)x
cTrader
Proprietaryx
Desktop
Web
Mobile
Social Trading
Other x
Purple Trading Platforms

Purple Trading Review

Research and Education

Purple Trading cares about their clients to make informed decisions, so they established the Purple Academy. Traders can benefit from market news, how-to guides, tutorials, articles, eBooks, videos, and webinars in the education section. However, the broker does not offer tutorials for trading platforms.

Market News

Purple Trading’s website includes a section dedicated to the most recent market news. Market news articles published in this section cover a variety of areas and might serve to generate new trading ideas.

Trading Guides

Purple Trading has many ebooks and guides covering a wide range of topics, from basics to advanced trading.

Purple Trading Trading Guides
Purple Trading Trading Guides

Purple Trading Club

The Purple Trading Club is a forum for traders to discuss unique trading possibilities. You may spend the entire day with other traders discussing the ups and downs of trading. The features of Purple Trading Club are as follows:

  • Engage in live trading with other traders and experts
  • Discuss trading opportunities, market movements, and trading methods
  • Connect with people in the trading community

Purple Trading Research and Education Summary

ResourcesPurple Trading
Market Analysis
Guides
Videos
Webinars
Autochartistx
Trading Centralx
Economic Calendarx
Otherx
Purple Trading Resources

Purple Trading Review

Deposit and Withdrawal

Purple Trading offers a variety of payment methods to its clients, including wire transfers, debit/credit cards, and electronic wallets. However, the broker does not offer cryptocurrencies as a mode of payment.

Purple Trading Funding Summary

Payment MethodDepositWithdrawal
Wire Transfer
Credit/debit Card
Electronic Wallets
Cryptosxx
Purple Trading Funding Options

Purple Trading Review

Regulation and Safety

Purple Trading is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the European Securities and Markets Authority (ESMA). Moreover, Purple Trading is a registered broker with the most well-known regulatory authorities like FCA in the UK, CONSOB in Italy, AFM in the Netherlands, BaFin in Germany, CNMV in Spain, KNF in Poland, ACPR in France, FSA in Denmark, CNB in the Czech Republic and NBS in Slovakia.

Purple Trading Regulation Summary

RegulatorPurple Trading
ASIC (Australia)x
IIROC (Canada)x
CySEC (Cyprus)
SFC (Hong Kong)x
JFSA (Japan)x
MAS (Singapore)x
FINMA (Switzerland)x
FCA (UK)
CFTC (USA)x
Other (CONSOB, AFM, BaFin, CNMV, KNF, ACPR, FSA, CNB and NBS)
Purple Trading Regulators

Purple Trading Safety

Purple Trading or its parent company is not listed on any stock exchange, and it does not hold a banking license. Purple Trading considers the security and safety of its clients’ money a high priority. Client funds are maintained in separate client accounts with major European banking institutions to guarantee constant access to their funds. This also means that customers’ funds should not be utilised for operating expenses.

Purple Trading Review

Client Support

Purple Trading offers customer support 24/7 via live chat, phone, and email. The customer support is very responsive and humble. Moreover, there is a FAQ section on the website to go through the answers to commonly asked questions quickly.

Purple Trading Review

Conclusion

On the industry-standard MT4 and cTrader terminals, Purple Trading offers competitive trading conditions in a wide range of financial products. Clients can access direct-to-market execution via ECN and STP execution methods. With a strong emphasis on technology, services are simple to use and ideal for both novice and experienced traders. As you trade greater volume, trading conditions get more competitive. Extra features such as educational content and an exclusive membership club help you get the most out of your Purple Trading experience.

Everything that you find on InvestingBrokers.com is based on information and data that is readily available from each broker that we have reviewed. We combine our 15+ years of industry experience with research, analysis and user feedback. This enables us to give an impartial and reliable broker rating. You can read more about our broker review process here.

Purple Trading Review

FAQs

When was Purple Trading founded?

Purple Trading was founded in 2016.

Where is Purple Trading located?

Purple Trading is located in Cyprus.

Is Purple Trading regulated?

Purple Trading is regulated by CySEC and ESMA.

What trading instruments does Purple Trading offer?

Purple Trading offers a lucrative product portfolio over asset classes such as forex, commodities, cryptocurrencies, CFDs, stocks, indices, and ETFs.

What is Purple Trading’s minimum deposit?

Purple Trading requires a minimum deposit of $20.

What investing platforms does Purple Trading offer?

Purple Trading offers MT4 and cTrader trading platforms.

What is Purple Trading’s commission fee?

Purple Trading’s commissions start from $10 per standard lot per round turn.

Does Purple Trading charge an inactivity fee?

Purple Trading charges a $15 per quarter inactivity fee from dormant accounts.

What are Purple Trading’s spreads?

Purple Trading offers variable spreads starting from as low as 0.3 pips.

What funding options does Purple Trading offer?

Purple Trading offers wire transfers, debit/credit cards, and electronic wallets.

Does Purple Trading offer demo trading?

Purple Trading offers demo accounts.

Does Purple Trading offer Islamic accounts?

No, Purple Trading does not offer Islamic accounts.

How do I contact Purple Trading customer support?

Purple Trading’s customer support can be reached 24/7 via live chat, phone, and email.
Purple Trading Review
Purple Trading Review
Minimum Deposit: $20
Richard Montana

Richard Montana

Richard has spent many years researching, testing, comparing and reviewing brokers. He has an extensive knowledge when it comes to understanding what to look for in a broker for trading and investing online.

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