Purple Trading vs CityIndex

Purple Trading vs CityIndex Comparison Table 2024
Purple Trading CityIndex
3.5
4.4
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

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.

City Index is an established and award-winning forex, CFD and spread betting broker with top-tier global regulation, including in the UK (FCA) and Australia (ASIC). With 30+ years in the industry, 13,500+ instruments and 24/5 customer support, City Index is a solid pick for aspiring traders.

Comment by Reviewer
"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." "City Index is best for new and intermediate traders looking for a wide selection of assets on user-friendly platforms."
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
  • Thousands of instruments including thematic indices and interest rates that are not available at many alternatives
  • Industry-leading platforms including MT4, plus access to cutting-edge third-party tools like TradingView
  • Excellent reputation with over 1 million account holders and tier-one regulatory oversight
  • Tight spreads from 0.5 pips on EUR/USD and competitive commissions on CFD shares
  • A free demo account with unrestricted access to all markets and trading tools
  • Extended hours trading on 70+ popular shares including Amazon and Tesla
  • No minimum deposit to get started
Cons
  • No MetaTrader 5 compatibility
  • Average customer support channels and wait times
  • Cryptocurrency trading not available in all locations
  • No Islamic account for Muslim traders
  • $15 monthly inactivity fee
  • US traders not accepted
Instruments
CFDs, Forex, Stocks, Cryptos, Futures, Commodities CFDs, Forex, Stocks, Cryptos, Options, Commodities, Bonds
Demo Account
Yes Yes
Minimum Deposit
$0 $0
Trading Platforms
  • MT4
  • cTrader
  • MT4
  • TradingView
  • TradingCentral
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
CySEC ASIC, FCA, MAS
Margin Trading
Yes No
Margin Rate
2.5%
STP Account
Yes Yes
ECN Account
Yes No
DMA Account
Yes Yes
MAM Account
Yes No
PAMM Account
Yes No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
No Yes
Mobile Apps
iOS & Android Yes
Android App Rating
2.8
iOS App Rating
3.8
Auto Trading
Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes No
Copy Trading Platform
Purple Trading enlists strategy providers to share their trading strategies with aspiring investors. The broker also CapitalGuard technology to cap excessive losses.
Social Trading
Yes No
Trade Signals
Smart Signals
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No Yes
Inactivity Fee
Yes £12
Islamic Account
No No
Account Currencies
  • USD
  • EUR
  • GBP
  • PLN
  • CZK
  • USD
  • EUR
  • GBP
  • AUD
  • CZK
Stock Exchanges
Commodities
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. Trade 5,000+ CFDs from a single account with no hidden fees and free live market data. The suite of markets is impressive vs alternatives, including access to shares, indices, commodities and bonds.
Leverage
1:30 (Retail), 1:500 (Pro) 1:30 (Retail), 1:50 (Accredited Investor), 1:200 (Sophisticated Investor), 1:300 (Wholesale Investor), 1:400 (Professional Trader). Varies with jurisdiction.
FTSE Spread
1 (ECN) 1 pt
GBPUSD Spread
0.00004 (ECN) 0.8 pips
Oil Spread
0.03 (ECN) 0.4
Stocks Spread
Variable Variable
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. Trade a wide selection of 80+ currency pairs with spreads from 0.5 pips and industry-favorite platforms. City Index has 40+ years experience in forex trading with liquidity from tier-one banks.
GBPUSD Spread
0.00004 (ECN) 0.8
EURUSD Spread
0.00004 (ECN) 0.5
EURGBP Spread
0.00005 (ECN) 0.8
Assets
59 84
Currency Indices
  • USD
  • EUR
  • GBP
  • JPY
  • CAD
  • AUD
  • NZD
  • CHF
  • USD
Cryptocurrency
Go long or short on popular digital currencies with ultra-tight spreads and fast order executions. Leverage also allows traders to magnify their purchasing power.
Spread
BTC 0.5%, ETH 1%
Coins
  • BTC
  • ETH
  • LTC
  • BCH
  • BCH
  • BTC
  • ETH
  • LTC
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
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