IC Markets vs Purple Trading

IC Markets vs Purple Trading Comparison Table 2023
IC Markets	Purple Trading
Review 4.8	Review 3.5 Purple Trading is #12 in our CFD broker rankings.
Traders from US not accepted	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
BPAY Credit Card FasaPay Giropay Mastercard Neteller PayPal POLi QIWI Rapid Transfer Skrill UnionPay Visa Wire Transfer	Credit Card Debit Card Neteller Skrill Wire Transfer
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
Deutsche Boerse London Stock Exchange SIX Swiss Exchange	Australian Securities Exchange CAC 40 Index France DAX GER 40 Index Deutsche Boerse Dow Jones Euronext FTSE UK Index Hang Seng Japan Exchange Group Nasdaq New York Stock Exchange S&P 500
Commodities
Gold Oil Orange Juice Precious Metals Silver	Gold Oil Orange Juice Palladium Platinum Silver
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

Review	Review
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