Purple Trading
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Pros and Cons
- Low spreads
- Multiple account types
- Excellent customer support
- Advanced trading platforms
- Regulated by multiple authorities
- Limited payment methods
- No MT5 support
- Limited educational resources
- Inactivity fee
- Complex fee structure
Introduction
Purple Trading, established in 2016, has emerged as a reliable and innovative broker within the financial trading industry.
Catering to both novice and seasoned traders, it offers a wide array of services and features designed to enhance the trading experience.
This detailed review provides an in-depth analysis of its offerings, covering aspects such as regulatory compliance, trading platforms, account types, fees, customer service, and more.
Create a Free AccountRegulatory Compliance and Security
Regulatory Bodies
Regulation is a cornerstone of a trustworthy broker.
Purple Trading is regulated by two major authorities: the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA) in the UK.
These regulatory bodies are known for their stringent standards, ensuring that it adheres to high levels of transparency, security, and financial integrity.
- CySEC: Based in Cyprus, CySEC is a reputable regulatory authority that oversees many brokers within the European Union. It ensures they adhere to the Markets in Financial Instruments Directive (MiFID II), which aims to increase transparency across EU financial markets and standardize regulatory disclosures for investor protection.
- FCA: Based in the UK, the FCA is another top-tier regulatory body known for its stringent requirements. Companies regulated by the FCA are required to segregate client funds, maintain sufficient capital reserves, and adhere to strict reporting and compliance standards.
Security Measures
Security is paramount for any trading platform.
Purple Trading implements several measures to ensure the safety of its clients’ funds and personal information.
These include advanced encryption technologies to protect data transmission and storage, ensuring that sensitive information remains secure.
Additionally, client funds are kept in segregated accounts, separate from the company’s operational funds.
This segregation ensures that clients’ money is protected and cannot be used for their expenses or liabilities.
The broker also participates in compensation schemes, such as the Investor Compensation Fund (ICF) in Cyprus, which provides additional protection to clients by compensating them in the event of insolvency.
Trading Platforms
MetaTrader 4 (MT4)
Purple Trading offers its clients the MetaTrader 4 (MT4) platform, which is one of the most widely used trading platforms globally.
MT4 is known for its user-friendly interface, advanced charting capabilities, and extensive range of technical indicators.
It supports automated trading through Expert Advisors (EA), allowing traders to implement and test their strategies without manual intervention.
Key Features of MT4
- Advanced Charting Tools: MT4 provides a wide set of chart types and timeframes, enabling traders to conduct detailed technical analysis. The platform also supports custom indicators and charting tools to suit individual trading strategies.
- Automated Trading: MT4 supports the use of Expert Advisors (EA), which are automated trading systems that execute trades based on pre-defined criteria. This feature allows traders to take advantage of market opportunities without constant monitoring.
- Customizable Indicators: Traders can create and customize technical indicators to enhance their trading strategies. MT4’s built-in programming language, MQL4, enables the development of bespoke indicators and trading algorithms.
- Secure Trading Environment: MT4 ensures a secure trading environment with encrypted data transmission and two-factor authentication (2FA), protecting traders’ accounts from unauthorized access.
While MT4 is highly popular, it’s worth noting that the company does not support MetaTrader 5 (MT5), which may be a limitation for some traders who prefer the newer platform.
Account Types
Purple Trading offers multiple account types to cater to the diverse needs of its clients.
Each account type is designed with specific features to suit different trading styles and experience levels.
| Account Type | Minimum Deposit | Leverage | Spreads (from) | Commission | Swap-Free Option |
|---|---|---|---|---|---|
| Standard Account | $100 | Up to 1:500 | 0.3 pips | None | Available |
| Professional Account | $500 | Up to 1:500 | 0.1 pips | Competitive | Available |
| Islamic Account | $100 | Up to 1:500 | 0.3 pips | None | Yes |
| Demo Account | N/A | N/A | N/A | N/A | N/A |
Standard Account
The Standard Account is designed for retail traders who seek a straightforward trading experience.
This account type has a low minimum deposit requirement of $100, making it accessible for beginners.
- Leverage: Up to 1:500
- Spreads: Very low, starting from 0.3 pips
- Commission: None
The Standard Account is suitable for traders who prefer not to pay commissions and are comfortable with slightly higher spreads compared to professional accounts.
Professional Account
The Professional Account caters to experienced traders who require advanced features and lower spreads.
This account type requires a higher minimum deposit of $500.
- Leverage: Up to 1:500
- Spreads: Starting from 0.1 pips
- Commission: Competitive rates based on trading volume
The Professional Account is ideal for high-frequency traders and those who execute large volumes of trades, as the lower spreads and competitive commissions can result in significant cost savings.
Islamic Account
For clients who adhere to Islamic principles, Purple Trading offers an Islamic Account.
This account type is Sharia-compliant, ensuring that no interest (swap) is charged on overnight positions.
- Leverage: Up to 1:500
- Spreads: Low, starting from 0.3 pips
- Commission: None
The Islamic Account provides a trading environment that aligns with the ethical and religious beliefs of Muslim traders.
Demo Account
Purple Trading provides a demo account for traders who wish to practice their trading strategies without risking real money.
The demo account is particularly useful for beginners to familiarize themselves with the trading platform and test their strategies under real market conditions.
- Virtual Funds: Up to $100,000
- Access to Real-Time Market Data: Yes
- Duration: Unlimited
The demo account replicates the live trading environment, allowing traders to gain practical experience and build confidence before transitioning to a live account.
Create a Demo AccountTrading Assets
Purple Trading offers a diverse range of trading assets, enabling clients to diversify their portfolios and explore various markets.
The available asset classes include:
Forex
The forex market is one of the most popular asset classes and clients can trade major, minor, and exotic currency pairs with competitive spreads and high leverage.
| Currency Pair | Spread (from) |
|---|---|
| Major Pairs | 0.3 pips |
| Minor Pairs | 0.4 pips |
| Exotic Pairs | 1.0 pips |
Indices
Purple Trading provides access to a range of global indices, allowing clients to trade the performance of major stock markets.
| Index | Spread (from) |
|---|---|
| S&P 500 | 0.5 points |
| FTSE 100 | 1.0 points |
| DAX 30 | 0.8 points |
Clients can trade shares of leading companies from various sectors, offering opportunities to capitalize on stock market movements.
| Company | Spread (from) |
|---|---|
| Apple | 0.1% |
| Amazon | 0.1% |
| Tesla | 0.1% |
Commodities
It also offers more than 70 commodities, including precious metals, energy products, and agricultural commodities.
| Commodity | Spread (from) |
|---|---|
| Gold | 0.2 points |
| Silver | 0.02 points |
| Crude Oil | 0.03 points |
| Natural Gas | 0.02 points |
| Wheat | 0.5 points |
| Corn | 0.5 points |
Cryptocurrencies
The broker provides access to popular cryptocurrencies, allowing clients to trade digital currencies with competitive spreads.
| Cryptocurrency | Spread (from) |
|---|---|
| Bitcoin | $30 |
| Ethereum | $10 |
| Litecoin | $2 |
Trading Conditions and Fees
Spreads and Commissions
Purple Trading is known for its competitive pricing, offering very low spreads and reasonable commissions.
Its pricing structure varies depending on the account type.
Standard Account
- Spreads: Starting from 0.3 pips
- Commission: None
Professional Account
- Spreads: Starting from 0.1 pips
- Commission: Competitive rates based on trading volume
Leverage
Purple Trading offers high leverage of up to 1:500, allowing traders to maximize their trading potential.
However, it is essential to understand that high leverage also increases the risk of significant losses, and traders should use it judiciously.
Deposit and Withdrawal Fees
The broker does not charge any fees for deposits or withdrawals, making it convenient for clients to manage their funds.
Supported payment methods include:
| Payment Method | Deposit Fee | Withdrawal Fee |
|---|---|---|
| Bank Transfer | None | None |
| Credit/Debit Cards | None | None |
| Skrill | None | None |
| Neteller | None | None |
Inactivity Fee
The broker charges an inactivity fee for accounts that remain dormant for a specified period.
Clients are advised to review the terms and conditions regarding inactivity fees to avoid unexpected charges.
Customer Support
Customer support is a crucial aspect of any trading experience, and this broker offers multiple channels for client support, ensuring that clients receive timely and effective assistance.
Email Support
Clients can reach out to the support team via email for detailed inquiries and issues that require thorough explanations.
- Email: support@purpletrading.com
Phone Support
For immediate assistance, the company provides a dedicated phone line, allowing clients to speak directly with a support representative.
- Phone: +420 228 885 888
Live Chat
The live chat feature on their website allows for real-time support, enabling clients to get quick resolutions to their queries.
The customer support team is known for its responsiveness and professionalism, ensuring that clients’ concerns are addressed promptly and efficiently.
Educational Resources
Purple Trading offers a range of educational resources to help clients improve their trading skills and knowledge.
These resources are designed to cater to traders of all experience levels.
Webinars and Seminars
The broker conducts regular online and offline sessions hosted by industry experts.
These sessions cover various trading topics, market analysis, and strategies, providing valuable insights to participants.
Educational Articles
This company provides a comprehensive library of articles that cover different aspects of trading, including technical analysis, fundamental analysis, risk management, and trading psychology.
Video Tutorials
The broker offers step-by-step video tutorials that guide clients through the process of using the trading platform, placing trades, and understanding market concepts.
Market Analysis
Purple Trading provides daily and weekly market analysis, keeping traders informed about the latest market trends and developments.
This analysis includes technical and fundamental insights, helping traders make informed decisions.
User Experience and Interface
Website and Mobile App
Their website is well-designed and user-friendly, providing easy access to all necessary information and tools.
The layout is intuitive, making it easy for clients to navigate through the different sections and find the information they need.
While Purple Trading does not offer a dedicated mobile app, the MT4 platform is available for both iOS and Android devices.
The mobile version of MT4 retains all the key features of the desktop version, allowing traders to manage their accounts and execute trades on the go.
Account Management
The account management process is straightforward and efficient.
Clients can easily open and manage their accounts through the online portal.
It also provides secure and hassle-free deposit and withdrawal processes, ensuring that clients can access their funds with ease.
Conclusion
Purple Trading stands out as a reliable and efficient broker, offering a range of features and services that cater to both novice and experienced traders.
Its regulatory compliance with CySEC and FCA ensures a secure trading environment, while the MT4 platform provides a robust and versatile trading experience.
The variety of account types, competitive spreads, and commission structures makes it an attractive option for traders looking for cost-effective solutions.
Additionally, its commitment to customer support and education further enhances its appeal.
Overall, Purple Trading is a strong contender in the brokerage industry, providing a comprehensive and professional trading experience.
Whether you are just starting your trading journey or looking to switch brokers, Purple Trading is worth considering for its reliability, security, and excellent customer service.
Visit official website: www.purple-trading-scFAQ
What is the minimum deposit?
The minimum deposit is $100.
Is Purple Trading regulated?
Yes, the company is regulated by CySEC and FCA.
What trading platforms does it offer?
Purple Trading offers MT4 but does not support MT5.
Does it have a demo account?
Yes, this broker provides a demo account for its users.
Are there any deposit or withdrawal fees?
No, Purple Trading does not charge any deposit or withdrawal fees.
What is the average spread for EUR/USD?
The average spread for EUR/USD is 0.3 pips.
Does it offer CopyTrading?
Yes, the company offers CopyTrading services.
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Article written, edited and reviewed by
Last updated: September 19, 2025
