Purple Trading vs ThinkMarkets

Note: Purple Trading and ThinkMarkets do not accept traders from the US. Top alternatives.

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Purple Trading vs ThinkMarkets Comparison Table 2024
Purple Trading ThinkMarkets
3.5
4

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.

Founded in 2010, ThinkMarkets is a reputable CFD and forex broker with regulation from several top-tier bodies including the FCA and ASIC. The broker provides services to over 450,000 accounts from 11 global offices. Traders can use a bespoke platform, MT4 or MT5 to access a wide variety of assets including 3500+ stocks and ETFs, 46 forex pairs and over 20 cryptocurrencies.

71.89% of retail investor accounts lose money when trading CFDs with this provider.
Customer Reviews
5
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." "With its diverse asset list, competitive fees and superb charting software, ThinkMarkets maintains its position as a top choice for most CFD traders. That said, experienced traders will particularly appreciate the range of advanced tools, including forex signals and VPS solutions."
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
  • Low fees with competitive spreads on the commission-free account and very tight spreads and a low $3.5 commission on ThinkZero
  • Unique Traders' Gym simulation tool for testing out strategies on real historical data, with multiple timeframes and custom features
  • In-depth educational resources for beginner, intermediate and advanced level traders, plus live webinars
  • Three stable and award-winning platforms plus seamless integration with the broker's Signal Centre
  • Top-tier regulation from the FCA, ASIC and CySEC plus offshore branches with high leverage
  • Free VPS hosting available for MT4 and MT5, ideal for traders using Expert Advisors (EAs)
  • Advanced charting package from TradingView in ThinkTrader Web - ideal for day traders
  • Reliable 24/7 multilingual support via telephone, email or live chat
  • Quick and easy to open a ThinkMarkets account
Cons
  • No MetaTrader 5 compatibility
  • Average customer support channels and wait times
  • $500 minimum deposit for ThinkZero account
  • Not many payment methods available for UK traders
  • Limited bonus offers, refer-a-friend schemes or trading competitions
Awards
  • Best CFD Provider 2021 - City of London Wealth Management Awards (COLWMA)
  • Best Value Broker in Asia at the 2020 - Global Forex Awards
  • Best Forex Trading Experience 2017 - UK Forex Awards
  • Best Forex Trading Innovation 2017 - UK Forex Awards
  • Best Customer Service 2013 - UK Forex Awards
Instruments
CFDs, Forex, Stocks, Cryptos, Futures, Commodities CFDs, Forex, Stocks, ETFs, Futures, Commodities, Crypto, Spread Betting (UK Only)
Demo Account
Yes Yes
Minimum Deposit
$0 $0
Trading Platforms
  • MT4
  • cTrader
  • ThinkTrader
  • MT4
  • MT5
  • AutoChartist
  • TradingCentral
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
CySEC FCA, ASIC, CySEC, FSCA, JFSA, FSA Seychelles
Margin Trading
Yes Yes
STP Account
Yes Yes
ECN Account
Yes No
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
Android App Rating
4
iOS App Rating
4.8
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. The Signal Centre is FCA-regulated and offers insights into forex, stocks, indices, commodities, and cryptocurrencies. Users can receive up to 40 signals before the trading day starts.
Social Trading
Yes Yes
Trade Signals
Signal Centre
VPS Hosting
No Yes
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
Yes $0
Islamic Account
No Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • PLN
  • CZK
  • USD
  • EUR
  • GBP
  • AUD
  • JPY
  • 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. ThinkMarkets continues to offer an excellent range of around 3500 CFD instruments covering forex, indices, stocks and commodities. Leverage is available up to 1:30 in the EU and UK, while global clients can access up to 1:500.
Leverage
1:30 (Retail), 1:500 (Pro) 1:500
FTSE Spread
1 (ECN) 0.7
GBPUSD Spread
0.00004 (ECN) 0.4
Oil Spread
0.03 (ECN) 0.03
Stocks Spread
Variable From 0.4
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. ThinkMarkets offers 46 currency pairs, which is around the industry average. Forex traders can benefit from tight 0.0-pip spreads for EUR/USD during peak market hours. Additionally, the ThinkTrader proprietary platform offers an impressive 125+ technical indicators - ideal for complex forex strategies.
GBPUSD Spread
0.00004 (ECN) 0.3
EURUSD Spread
0.00004 (ECN) 0.0
EURGBP Spread
0.00005 (ECN) 0.0
Assets
59 45+
Currency Indices
  • USD
  • EUR
  • GBP
  • JPY
  • CAD
  • AUD
  • NZD
  • CHF
Cryptocurrency
With 20+ cryptocurrencies available to trade via CFDs, traders can securely speculate on crypto markets with up to 1:10 leverage. ThinkMarkets does not directly trade crypto assets, meaning you will not own the tokens, and crypto trading is not available in some jurisdictions.
Spread
BTC 25, ETH 6 (Variable)
Coins
  • BTC
  • ETH
  • LTC
  • BCH
  • BCH
  • LTC
  • XMR
  • DOGE
  • XLM
  • BTC
  • ETH
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
71.89% of retail investor accounts lose money when trading CFDs with this provider.