Purple Trading Review 2024


3.5 / 5
Purple Trading is #107 in our CFD broker rankings.

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.

- Daytrading Review Team

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 the CySEC. Purple Trading also offers a good selection of account types to suit different traders, including beginners, pros and passive investors.

$0
MT4, cTrader
CFDs, Forex, Stocks, Cryptos, Futures, Commodities
-
USD, EUR, GBP, PLN, CZK
Debit Card, Credit Card, Wire Transfer

Forex Trading

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.

Stock Trading

Purple Trading offers access to 100+ equities including large brands like Apple, American Express and Boeing. While the range of equities is fairly narrow, spreads are tight, 1:5 leverage is available, and there is positive slippage with no requotes.

CFD Trading

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.

Copy Trading

Purple Trading enlists strategy providers to share their trading strategies with aspiring investors. The broker also CapitalGuard technology to cap excessive losses.

✓ Pros

  • 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 MetaTrader 5 compatibility
  • Average customer support channels and wait times

Purple Trading is an innovative online broker offering industry-leading technologies for multi-asset trading. Clients can access direct-to-market STP or ECN execution models for a wide range of CFDs. This 2024 review will explore Purple Trading’s assets, platforms, minimum deposit requirements, sign-up and login processes, ESMA leverage cap restrictions and more.

Purple Trading Headlines

Purple Trading was established in 2016 and is owned and operated by L.F. Investment Limited, a licensed investment company regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker also adheres to European MiFID regulations, increasing transparency across the European Union’s financial markets. The broker aims to provide a fair trading environment using state-of-the-art technology.

Services can be executed via ECN or STP, providing fast order execution and competitive conditions that are reliable and great for investors, with no dealing desk (NDD) intervention. The broker utilises low latency connectivity using a range of liquidity providers and top-tier banks.

Purple Trading consistently aims to deliver the best possible connection for clients with a vast liquidity pool, minimum slippage and lowest possible connection time. The broker’s trading server is located in London, with an execution speed of 100 milliseconds.

Trading Platforms

This Purple Trading review found that clients gain access to two online trading platforms: cTrader and MetaTrader 4 (MT4). Note, the broker does not currently offer the popular MT5 trading terminal. Both available platforms are compatible with all major web browsers or available to download to desktop, mobile and tablet devices. Features of the platforms include:

cTrader

purple trading us30 time zone
cTrader Trading Platform

MetaTrader 4

purple trading affiliate comparison vs XTB
Exinity MetaTrader 4 Platform

Assets

The brokerage offers clients investment and CFD trading opportunities in the following markets:

Fees

Our Purple Trading review found that fees and commission vary by account type. Traders should review STP vs ECN accounts to execute their trading strategy with the best-suited fees and spreads. Essentially, you can trade with low spreads and volume-based commission or trade with no commission but higher spreads.

STP Account

ECN Account

Non-trading fees including inactivity charges are applicable with Purple Trading accounts. Swap fees for positions held overnight are also charged.

Leverage

As Purple Trading is regulated by CySEC, the forex broker complies with all ESMA regulations, capping leverage at a maximum of 1:30 for inexperienced retail clients. The maximum leverage rates found by this review are:

Purple Trading also offers professional accounts, which can access leverage rates up to 1:500, though these lack the negative balance protection afforded to both tiers of retail accounts.

Keep in mind trading with leverage can amplify losses. Understand the risks before using.

Mobile Apps

Both trading platforms are available as mobile applications. MetaTrader 4 and the cTrader application are available for free download, compatible with iOS and Android (APK) devices.

MetaTrader Mobile allows users to access trading features of the desktop platform, including analytical tools, and customisable charts and graphs while on the go. cTrader offers customised features of the web terminal:

cTrader Mobile

Payment Methods

Deposits

The minimum deposit requirements for the ECN and STP account types are zero. Purple Trading does not charge a fee for any payment methods, though third-party charges may be applicable. Clients must log in to the personal portal to complete deposits and withdrawals. Accepted payment types include:

Currency conversion charges may also apply if funding accounts in different currencies. Bank wire transfers are accepted in EUR, USD, GBP, PLN and CZK currencies only.

Withdrawals

Withdrawals must be processed using the original deposit method. Fees are applicable for withdrawals, which vary by payment type. The broker does guarantee withdrawal requests are processed within one business day.

Demo Account

Purple Trading offers a free demo account available via its website with five possible base currencies. These accounts are a good way to practise trading, navigate platform features or test a strategy risk-free.

Traders can access up to $10,000,000 in virtual funds and experience real-time trading conditions and prices. A simple online registration form is required to open a demo account. Clients may select between trading platforms and account types (ECN or STP).

Deals & Promotions

ESMA trading regulations restrict the use of financial incentives by brokers like Purple Trading to encourage new clients to sign up with them. Instead, firms must differentiate themselves through competitive trading conditions.

Our review did find, however, that clients can achieve tiered status recognition based on trading volumes with reduced commissions and spreads.Purple Trading 2021 broker review

Regulation & Licensing

Purple Trading is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). This is a respected regulator in the retail financial speculation industry. Under this authorisation, retail clients can be assured of segregated funds in top-tier banks and negative balance protection. The broker also undergoes regular external audits and has additional global licenses with CONSOB for services to other jurisdictions.

Enhanced financial security is offered by the broker with coverage under the Investors Compensation Fund (ICF). The scheme protects eligible clients’ deposits up to the amount of €20,000 in the case of business insolvency.

Additional Features

Purple Trading hosts a comprehensive educational section on its website. Training is suitable for beginners to advanced investors. The latest news, ebook posts and trading tips are updated weekly with supporting YouTube video content. Topics include understanding charts like line graphs, copy trading, Islamic account features, swap rates and more.

There is also a membership academy; the Purple Trading Club. The social platform is designed to encourage peer-to-peer sharing of trading strategies, opportunities and ideas. The club is available for all clients to join and provides access to exclusive webinar meetings, building relationships with like-minded investors and the opportunity to learn from seasoned professional traders.

A trader ‘status’ programme is used by the broker. This benefits investors based on their trading volumes. The broker offers lowered commission if eligibility requirements are met. Trading volumes are reviewed automatically each month and, based on this, your trader status will be updated and the relevant rewards will be provided.

Starter

Standard

Prime

VIP

Account Types

Retail clients have access to two account options, categorised by STP or ECN execution models. These can be used across both trading platforms. Note, the ECN account is the default account for all new sign-ups. Contact the customer service team if you would like to trade on the STP account. Accepted account currencies include EUR, USD, CZK, GBP and PLN. An overview of the live trading accounts:

STP

Suitable for traders that want to hold positions open for a longer time period

ECN

Suitable for intraday trading

Account registration can be completed online to open a live account in a matter of minutes. You may be required to provide identification verification documents such as proof of residency under the know-your-customer (KYC) compliance.

Trading Hours

Purple Trading follows standard office hours and 24-hour trading hours Monday through Friday. However, trading availability during this period may vary by instrument.

Customer Support

The broker offers various customer support options available Monday through Friday. These include:

Safety & Security

The Purple Trading member zone is password protected and all personal data transferred between client terminals and platforms are encrypted. Both trading platforms offer secure login features, including two-factor authentication (2FA) and industry-standard data privacy. Additionally, the broker complies with all EU standards on client protection, including data privacy, fund segregation and insurance.

Purple Trading Verdict

This 2024 Purple Trading review has found that the broker provides competitive trading opportunities in a vast range of instruments on industry-established MT4 and cTrader terminals. Clients can access direct-to-market execution via ECN and STP execution models for the best prices.

With a real focus on technology, services are intuitive and suitable for both beginners and advanced investors.

Trading conditions become more competitive as you trade more volume and additional services including an educational platform and exclusive membership club help you to get the most from your experience with Purple Trading.

FAQs

Is Purple Trading Regulated?

Yes, Purple Trading is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC).

What Leverage Can I Use On A Purple Trading Account?

As Purple Trading is regulated in Europe, retail clients will be subject to ESMA leverage capping restrictions at 1:30. However, professional clients can access rates of up to 1:500.

What Trading Platforms Does Purple Trading Offer?

Investors can utilise established MetaTrader 4 and cTrader platforms for all their trading and account management needs. Purple trading clients can access features including various technical indicator options, customisable charts and simple navigation.

What Are The Minimum Deposit Requirements To Trade With Purple Trading?

There is no minimum deposit requirement to get started in the ECN and STP accounts.

Does Purple Trading Offer A Demo Account?

Yes, Purple Trading broker offers a demo account on either an ECN or STP account. With this, you can access unlimited virtual funds and experience a real-time trading environment with direct-to-market prices.

Top 3 Alternatives to Purple Trading

Compare Purple Trading with the top 3 similar brokers that accept traders from your location.

  1. AvaTrade – AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.

  2. IC Markets – IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.

  3. Pepperstone – Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.

    CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.

Purple Trading Comparison Table

Compare Purple Trading With Similar Brokers
Purple Trading AvaTrade IC Markets Pepperstone
Rating 3.5 4.9 4.8 4.8
Markets CFDs, Forex, Stocks, Cryptos, Futures, Commodities CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
Demo Account Yes Yes Yes Yes
Minimum Deposit $0 $200 $0
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Regulators CySEC ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM ASIC, CySEC, FSA FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
Bonus
Education No Yes Yes Yes
Platforms MT4, cTrader WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
Leverage 1:30 (Retail), 1:500 (Pro) 1:30 (Retail) 1:400 (Pro) 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) 1:30 (Retail), 1:500 (Pro)
Payment Methods 3 13 14 11
Visit Visit Visit Visit Visit
Review AvaTrade
Review
IC Markets
Review
Pepperstone
Review

Compare Trading Instruments

Compare the markets and instruments offered by Purple Trading and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Purple Trading Trading Instruments
Purple Trading AvaTrade IC Markets Pepperstone
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes Yes Yes
Gold Yes Yes Yes Yes
Copper No Yes No Yes
Silver Yes Yes Yes Yes
Corn No Yes Yes Yes
Crypto Yes Yes Yes Yes
Futures Yes Yes Yes No
Options No Yes No No
ETFs No Yes Yes Yes
Bonds No Yes Yes No
Warrants No No No No
Spreadbetting No Yes No Yes
Volatility Index No Yes Yes Yes

Purple Trading vs Other Brokers

Compare Purple Trading with any other broker by selecting the other broker below.

 

The most popular Purple Trading comparisons:

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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 the CySEC. Purple Trading also offers a good selection of account types to suit different traders, including beginners, pros and passive investors.