Purple Trading vs FXCM

Purple Trading vs FXCM Comparison Table 2024
Purple Trading FXCM
3.5
3.5

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.

FXCM is a respected forex and CFD broker, established since 1999. The British-headquartered broker has won multiple awards and operates in various jurisdictions, including the UK and Australia. With zero commissions, over 400 assets, and a range of analysis tools, FXCM remains a popular choice for day traders. The broker is also regulated by top-tier authorities including the FCA and ASIC.

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." "FXCM maintains its position as a top pick for traders deploying automated trading strategies, with four powerful platforms, strategy backtesting and algo trading through APIs. The broker is also great for active traders, with discounted spreads and low to zero commissions on popular assets."
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
  • Alongside the 4 charting platforms, FXCM also offers a market-leading range of specialist software for experienced investors, including QuantConnect, AgenaTrader and Sierra Chart
  • The proprietary Trading Station terminal is a good choice for day traders looking for an all-in-one solution for their short-term and automated trading strategies
  • Traders can utilize several top-tier trading tools including a market scanner, forex signals and third-party research site, eFXPlus
  • FXCM’s global reputation is impressive, with licenses from the FCA, ASIC, CySEC and FSCA and a 20-year business history
  • A range of funding methods are available including bank cards, Apply Pay and PayPal, with instant processing times
  • The broker offers spread discounts and other excellent perks for experienced traders in the Active Trader account
  • FXCM has expanded its range of trading opportunities with 24-hour stock CFDs through MetaTrader 4
Cons
  • No MetaTrader 5 compatibility
  • Average customer support channels and wait times
  • Although FXCM continues to gear their services towards experienced traders, it’s a shame that there are no managed accounts on offer
  • There is no choice of retail accounts for traders, nor any Cent/Micro account options
  • The live chat support can be slow and unreliable compared to the top competitors
Instruments
CFDs, Forex, Stocks, Cryptos, Futures, Commodities CFDs, Forex, Stocks, Cryptos, Commodities
Demo Account
Yes Yes
Minimum Deposit
$0 $50
Trading Platforms
  • MT4
  • cTrader
  • Trading Station
  • MT4
  • TradingView
  • eSignal
Payment Methods
Minimum Trade
0.01 Lots Variable
Regulator
CySEC FCA, CySEC, ASIC
Margin Trading
Yes Yes
STP Account
Yes No
ECN Account
Yes No
DMA Account
Yes No
MAM Account
Yes Yes
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 Yes
P2P Trading
No No
Spot Trading
No No
Mobile Apps
iOS & Android iOS and Android
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes Yes
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. FXCM offers social and copy trading on forex, CFDs and cryptos through the hugely popular ZuluTrade platform. The sign-up process is quick and you can track your performance in real-time.
Social Trading
Yes Yes
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No Yes
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
Yes
Islamic Account
No No
Account Currencies
  • USD
  • EUR
  • GBP
  • PLN
  • CZK
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • ZAR
  • CHF
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. You can trade a range of CFD instruments across forex, shares, indices and commodities. There’s an excellent selection of platforms for day traders, including TradingView and MT4, plus additional tools for experienced algo traders including API solutions.
Leverage
1:30 (Retail), 1:500 (Pro) 1:30
FTSE Spread
1 (ECN) 1.18 pts var*
GBPUSD Spread
0.00004 (ECN) 0.5 pips*
Oil Spread
0.03 (ECN) 0.05 (var)*
Stocks Spread
Variable 0.2% Var*
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. FXCM offers an average range of 40+ currency pairs, although there are no commissions and spreads are competitive from 0.78 pips for EUR/USD. The broker also offers 3 forex baskets covering USD, Yen and emerging markets benchmarks.
GBPUSD Spread
0.00004 (ECN) 0.5 pips var*
EURUSD Spread
0.00004 (ECN) 0.2 pips var*
EURGBP Spread
0.00005 (ECN) 0.5 pips var*
Assets
59 40
Currency Indices
  • USD
  • EUR
  • GBP
  • JPY
  • CAD
  • AUD
  • NZD
  • CHF
  • JPY
Cryptocurrency
You can trade some of world's most popular digital coins with zero commission and leverage up to 1:4. FXCM also stands out for its crypto major basket which offers exposure to Bitcoin, Ethereum, Litecoin and Bitcoin Cash in one trade.
Spread
Variable
Coins
  • BTC
  • ETH
  • LTC
  • BCH
  • BTC
  • ETH
  • LTC
  • BTC
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
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