Purple Trading vs FXOpen

Purple Trading vs FXOpen Comparison Table 2024
Purple Trading FXOpen
3.5
3.7
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.

FXOpen is a multi-asset broker with regulation from several trustworthy bodies including the UK's FCA. The broker offers CFD trading on forex, stocks, commodities, indices, cryptocurrencies and ETFs via the MetaTrader 4 & 5 and TradingView platforms.

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." "FXOpen is a good, reliable all-round broker with competitive pricing that will especially suit high-volume traders who can benefit from fee discounts."
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
  • No requotes
  • Phone dealing
  • News trading
  • 600+ instruments
  • True ECN model
  • Scalping permitted
  • Multiple payment methods
  • Bonuses and trading contests
  • Unlimited demo account
  • Copy trading (global traders)
  • Low minimum deposit (global traders)
  • MT4, MT5, TradingView & TickTrader platforms
Cons
  • No MetaTrader 5 compatibility
  • Average customer support channels and wait times
  • Inactivity fee
  • Withdrawal fees apply for some methods
  • No access to all instruments on some accounts
Awards
  • Best ECN Broker 2012 - Masterforex-V
  • Best Forex Broker in Australasia 2011 - World Finance Magazine
  • Best Islamic Forex Broker 2011 - IB Times Trading Awards
  • Best South-East Asia Forex Broker and Best ECN Forex Broker 2011 - IB Times Trading Awards
  • Best Trading Platform 2010 - Falcon Awards
Instruments
CFDs, Forex, Stocks, Cryptos, Futures, Commodities Forex, CFDs, Indices, Commodities, Cryptocurrencies, ETFs, Shares
Demo Account
Yes Yes
Minimum Deposit
$0 $1
Trading Platforms
  • MT4
  • cTrader
  • MT4
  • MT5
  • TradingView
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
CySEC FCA, CySEC, ASIC
Margin Trading
Yes Yes
STP Account
Yes Yes
ECN Account
Yes Yes
DMA Account
Yes No
MAM Account
Yes No
PAMM Account
Yes Yes
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 No
Mobile Apps
iOS & Android iOS & Android
Auto Trading
Expert Advisors (EAs) on MetaTrader 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. FXOpen offers copy trading, enabling users to follow and copy the positions and strategies of other traders. Myfxbook and ZuluTrade are supported, two of the highest-rated and easiest to use third-party copy trading platforms on the market.
Social Trading
Yes Yes
Trade Signals
Yes
VPS Hosting
No Yes
Tournaments
No Yes
Demo Competitions
No Yes
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
Yes $10
Islamic Account
No Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • PLN
  • CZK
  • USD
  • EUR
  • GBP
  • AUD
  • JPY
  • CHF
  • HKD
  • RUB
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. FXOpen offers CFDs on multiple assets including forex, stocks, commodities, indices, cryptocurrencies and ETFs. Leverage and spreads vary by instrument, with spreads starting from zero and fast order execution.
Leverage
1:30 (Retail), 1:500 (Pro) 1:30 (EU), 1:500 (Global)
FTSE Spread
1 (ECN) 0.8
GBPUSD Spread
0.00004 (ECN) 0.2
Oil Spread
0.03 (ECN) 4.0
Stocks Spread
Variable N/A
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. FXOpen clients can trade 50+ forex pairs (28 on micro accounts) with leverage up to 1:30. Fees are competitive with spreads starting from zero with a small commission on ECN accounts, and slightly wider spreads and no commission on STP accounts.
GBPUSD Spread
0.00004 (ECN) 0.2
EURUSD Spread
0.00004 (ECN) 0.2
EURGBP Spread
0.00005 (ECN) 0.2
Assets
59 50+
Currency Indices
  • USD
  • EUR
  • GBP
  • JPY
  • CAD
  • AUD
  • NZD
  • CHF
Cryptocurrency
FXOpen offers CFDs on 40 cryptocurrency pairs, including cross-pairs with BTC as well as pairs with various fiat currencies such as GBP, USD and JPY. Crypto CFDs are tradeable with leverage of 1:2. Only pro traders can access crypto derivatives in the UK.
Spread
Variable
Coins
  • BTC
  • ETH
  • LTC
  • BCH
  • BTC
  • BCH
  • ETH
  • LTC
  • ETC
  • EOS
  • DSH
  • XRP
  • IOT
  • XMR
  • NEO
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
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