IC Markets vs Purple Trading

IC Markets vs Purple Trading Comparison Table 2023
IC Markets Purple Trading
4.8
3.5

Purple Trading is #12 in our CFD broker rankings.

United States Flag Traders from US not accepted
United States Flag Traders from US accepted

IC Markets is a respected multi-asset broker offering premium trading technology, highly competitive pricing and 24/7 customer support. The broker provides various social trading features for beginners whilst experienced traders can enjoy advanced charting and analysis tools. Over 180,000 clients from more than 200 countries have signed up with the heavily regulated and trustworthy brand.

Purple Trading is a legitimate forex and CFD broker with ECN and STP execution for a range of markets on two top commercial trading platforms. The broker is heavily regulated with authorization from both the CySEC and FCA. Purple Trading also offers a good selection of account types to suit different traders, including beginners, pros and passive investors.

Comment by Reviewer
"IC Markets offers a top-class environment for traders of all experience levels and strategies. Industry-leading platforms, superior pricing and flexible accounts will meet the needs of both beginners and active day traders." "Purple Trading is a great fit for investors seeking a regulated broker with access to popular financial markets on the reliable cTrader or MetaTrader 4 platforms."
Pros
  • Low fees with spreads from 0.0 pips and zero commissions
  • Premium educational resources and trading tools including podcasts, forex calculators and tick charts
  • Beginner-friendly social trading features including IC Social, Myfxbook and Zulutrade
  • 15+ payment methods in 10 base currencies including PayPal and Skrill
  • Responsive 24/7 customer support plus an extensive help centre
  • Reliable MT4 and cTrader platforms and mobile apps
  • Fast order execution speed of under 40ms
  • High leverage up to 1:500
  • Trustworthy and regulated by the Cyprus Securities and Exchange Commission (CySEC)
  • Access to MetaTrader 4 plus cTrader - both industry-leading platforms
  • Good range of deposit and withdrawal methods including bank cards
  • Currency indices with broader exposure to the forex market
  • Loyalty programme for active traders with fee discounts
  • Bespoke indicators to support forex trading on MT4
  • Excellent education for beginners including ebooks
  • Free demo account
Cons
  • No bonus deals for new traders
  • Traders from the US not accepted
  • Two-factor authentication not available for extra account security
  • No MetaTrader 5 compatibility
  • No cryptocurrency trading including Bitcoin
  • Average customer support channels and wait times
Awards
  • Best MT4/MT5 Broker 2023 - DayTrading.com
  • Best Forex Broker 2022 - DayTrading.com
  • Best Overall Broker 2020 - DayTrading.com
  • Best Trading App 2020 - DayTrading.com
Instruments
Futures, CFD, Forex, Crypto, REITs, Volatility Index Stocks, Futures, CFD, Forex
Demo Account
Yes Yes
Minimum Deposit
$200 $20
Payment Methods
Minimum Trade
0.01 Lots 0.01 lots
Regulator
ASIC, CySec, FSA CySEC, FCA
Margin Trading
No Yes
MetaTrader 4
Yes Yes
MetaTrader 5
Yes No
cTrader
Yes Yes
AlgoTrader
No No
OmniTrader
No No
TradingView
No No
Autochartist
No No
eSignal
No No
Trading Central
No No
STP Account
No Yes
ECN Account
No Yes
DMA Account
Yes Yes
MAM Account
Yes No
PAMM Account
Yes No
LAMM Account
Yes No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes No
Mobile Apps
iOS, Android and Windows iOS & Android
Auto Trading
Yes, via EQUINIX NY 4 EAs
Copy Trading
Yes Yes
Copy Trading Platform
The IC Social app is easy-to-use and allows traders to learn, share and mirror positions in a few clicks. The app also hosts risk management tools and facilitates direct messaging and dedicated trading groups. Alternatively, IC Markets provides access to popular third-party copy trading tools - ZuluTrade and Myfxbook. Purple Trading enlists strategy providers to share their trading strategies with aspiring investors. The broker also CapitalGuard technology to cap excessive losses.
Social Trading
No Yes
Trade Signals
Yes (Via Robot Feature)
VPS Hosting
Yes No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
0 $15
Islamic Account
Yes No
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • CHF
  • USD
  • EUR
  • GBP
Stock Exchanges
Commodities
CFD Trading
Trade CFDs 24/5 on popular markets including forex, commodities, indices, stocks and bonds. IC Markets offers deep liquidity, raw spreads and high leverage. Purple Trading supports CFD trading through MetaTrader 4 and cTrader on stocks, commodities, futures, forex and indices. You can go long or short with up to 1:30 leverage, free deposits and competitive pricing.
Leverage
ASIC and CySEC -1:30, FSA - 1:500, 1:1000 Elsewhere 1:30 Retail, 1:500 Professional
FTSE Spread
1 pt 1 (ECN)
GBPUSD Spread
0.5 pips 0.00004 (ECN)
Oil Spread
1 pt 0.03 (ECN)
Stocks Spread
Variable
Forex Trading
Trade currencies with 0.0 pip spreads at one of the world's leading forex brokers. IC Markets is a great choice for serious traders with superior execution and low fees. Purple Trading clients are in a great position to speculate on foreign exchange markets with over 60 major, minor and exotic currency pairs. Forex indices are also available offering a holistic view of popular currencies like the USD.
Forex App

IC Markets deliver mobile apps for both their cTrader and MT5 platforms. Both have been developed on android and iOS separately, taking full advantage of the functionality available on each. With raw pricing, and spreads from 0.0, the apps deliver an excellent trading tool for all levels of trader. The speed of execution synonymous with IC Markets is retained across their apps.

GBPUSD Spread
0.5 pips 0.00004 (ECN)
EURUSD Spread
0.1 pips 0.00004 (ECN)
EURGBP Spread
0.5 pips 0.00005 (ECN)
Assets
56+ 59
Currency Indices
  • USD
  • EUR
  • GBP
  • JPY
  • CAD
  • AUD
  • NZD
  • CHF
Cryptocurrency
IC Markets offer a diverse range of cryptos, with super small spreads. They also offer many cryptocurrencies not available elsewhere, without the need of a virtual wallet. Crypto trading not offered
Spread
BTC 0.4%, ETH 1%
Coins
  • BTC
  • BCH
  • ETH
  • LTC
  • DASH
  • XRP
  • EOS
  • EMC
  • NMC
  • PPC
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
More Comparisons
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