Purple Trading
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Pros and Cons
- Highly regulated by multiple authorities
- Extremely low spreads
- Diverse range of trading instruments
- Excellent customer service
- Advanced trading platform (MT4)
- Inactivity fee
- Limited educational resources
- No US clients accepted
- High minimum deposit for premium accounts
- No MT5 platform
Introduction
Purple Trading is a globally recognized online brokerage firm that offers a wide range of trading services to retail and institutional clients.
Known for its competitive trading conditions, excellent customer service, and stringent regulatory compliance, it has carved a niche in the highly competitive forex and CFD trading market.
In this review, we will delve into various aspects of the broker to provide a comprehensive understanding of its offerings, strengths, and areas for improvement.
Open a free accountCompany Overview
Background
Purple Trading was established in 2016 with the mission to provide transparent and efficient trading services.
The company is headquartered in London, United Kingdom, and has quickly gained a reputation for its reliable trading platforms, low spreads, and robust regulatory framework.
Regulatory Compliance
One of the standout features of this broker is its adherence to strict regulatory standards.
It is regulated by multiple top-tier authorities, including:
- ASIC (Australian Securities and Investments Commission)
- CySEC (Cyprus Securities and Exchange Commission)
- FCA (Financial Conduct Authority, UK)
- BaFin (Federal Financial Supervisory Authority, Germany)
- MAS (Monetary Authority of Singapore)
This multi-regulatory oversight ensures that the firm operates with high standards of security, transparency, and accountability, offering peace of mind to its clients.
Account Types
Purple Trading offers many account types to cater to different trading needs and experience levels.
Each account type has its own unique features, tailored to meet the specific requirements of different categories of users.
Standard Account
The Standard Account is designed for beginners and intermediate users who are looking for a cost-effective way to trade.
- Minimum Deposit: $100
- Leverage: Up to 1:500
- Spreads: Extremely low
- Commissions: None
- Suitable For: Beginners and intermediate traders
Professional Account
The Professional Account caters to experienced customers who require lower spreads and additional features.
- Minimum Deposit: $500
- Leverage: Up to 1:500
- Spreads: Lower than standard account
- Commissions: Low
- Suitable For: Experienced users
Institutional Account
The Institutional Account is tailored for high-volume traders and institutions, offering customizable conditions.
- Minimum Deposit: Custom
- Leverage: Up to 1:100
- Spreads: Negotiable
- Commissions: Negotiable
- Suitable For: High-volume users and institutions
Islamic Account
The Islamic Account is designed for clients who follow Sharia law, ensuring compliance with Islamic finance principles.
- Minimum Deposit: $100
- Leverage: Up to 1:500
- Spreads: Extremely low
- Commissions: None
- Suitable For: Clients adhering to Sharia law
Account Types Comparison Table
Feature | Standard Account | Professional Account | Institutional Account | Islamic Account |
Minimum Deposit | $100 | $500 | Custom | $100 |
Leverage | Up to 1:500 | Up to 1:500 | Up to 1:100 | Up to 1:500 |
Spreads | Extremely low | Lower than standard account | Negotiable | Extremely low |
Commissions | None | Low | Negotiable | None |
Suitable For | Beginners and intermediate | Experienced users | High-volume users and institutions | Clients adhering to Sharia law |
Trading Platforms
The firm offers the popular MetaTrader 4 (MT4) platform, known for its robust features and user-friendly interface.
However, it does not offer the newer MetaTrader 5 (MT5) platform, which might be a limitation for some clients.
MetaTrader 4 (MT4)
The MT4 platform is equipped with advanced tools and features that cater to both novice and seasoned investors.
Features:
- Advanced charting tools
- Automated trading through Expert Advisors (EA)
- Multiple order types
- Secure and stable
Available On:
- Desktop (Windows and Mac)
- Mobile (iOS and Android)
- Web
Trading Instruments
Purple Trading provides access to a wide range of trading instruments across various asset classes.
This diversity allows users to diversify their portfolios and explore different market opportunities.
Forex
Forex trading is a major offering, with a wide range of currency pairs available for trading.
- Major pairs: EUR/USD, GBP/USD, USD/JPY
- Minor pairs: EUR/GBP, AUD/CAD
- Exotic pairs: USD/TRY, EUR/SGD
Stocks
Users can trade shares of major global companies through CFDs, allowing them to speculate on price movements without owning the actual shares.
Indices
Trading on major global indices is available, providing traders with the opportunity to invest in the overall performance of markets.
- Examples: S&P 500, FTSE 100, DAX 30
Commodities
Commodity trading includes both precious metals and energy products, offering a hedge against inflation and market volatility.
- Precious metals: Gold, Silver
- Energy: Crude Oil, Natural Gas
Cryptocurrencies
The broker offers CFD trading on major cryptocurrencies, allowing clients to speculate on the volatile crypto market.
- Examples: Bitcoin, Ethereum
Trading Instruments Table
Asset Class | Instruments | Examples |
Forex | Major, Minor, Exotic Pairs | EUR/USD, GBP/USD, USD/TRY |
Stocks | CFDs on Global Shares | Apple, Google, Tesla |
Indices | Major Global Indices | S&P 500, FTSE 100, DAX 30 |
Commodities | Precious Metals, Energy Products | Gold, Silver, Crude Oil |
Cryptocurrencies | CFDs on Major Cryptocurrencies | Bitcoin, Ethereum |
Spreads and Commissions
Spreads
This broker is known for offering extremely low spreads, which can significantly reduce trading costs.
Here’s a snapshot of average spreads on major pairs:
Currency Pair | Average Spread (pips) |
EUR/USD | 0.1 |
GBP/USD | 0.3 |
USD/JPY | 0.2 |
These low spreads make it an attractive option for cost-conscious users looking to maximize their returns.
Commissions
For standard accounts, the broker charges no commissions on trades.
For professional and institutional accounts, commissions are relatively low and can be negotiated based on trading volume.
Payment Methods
The broker supports close to 10 payment methods to ensure convenience for its clients.
This flexibility allows people from different regions to fund their accounts with ease.
- Bank Transfer
- Credit/Debit Cards
- Skrill
- Neteller
- PayPal
- Bitcoin
Deposit and Withdrawal Fees
Purple Trading does not charge any fees for deposits or withdrawals, making it cost-effective for clients to move their funds.
This policy enhances the overall trading experience by minimizing hidden costs.
Customer Support
Customer support is a critical aspect of any brokerage service, and it excels in this area.
The company offers excellent support, available through multiple channels:
- Email: support@purpletrading.com
- Phone: +44 20 8133 7801
- Live Chat: Available on the website
- Contact Form: Available on the website
The support team is known for its responsiveness and expertise, providing timely assistance to clients.
Whether you need help with account issues, trading queries, or technical support, the customer service team is well-equipped to handle your needs.
Mobile Trading
In today’s fast-paced world, mobile trading capabilities are essential for many investors.
Purple Trading offers a robust mobile trading app, available on both iOS and Android platforms.
The app allows users to manage their accounts, execute trades, and monitor markets on the go.
Features:
- Real-time quotes and charts
- Full trading capabilities
- Account management
- Secure login
The mobile app mirrors the functionality of the desktop platform, ensuring that traders have access to the same tools and features, regardless of where they are.
Education and Resources
While Purple Trading excels in many areas, its educational resources are relatively limited compared to other brokers.
The firm offers basic tutorials and webinars, but there is room for improvement in providing more comprehensive educational content for beginners.
Educational Materials
- Tutorials: Covering basic trading concepts and platform navigation
- Webinars: Regularly scheduled sessions on market analysis and trading strategies
- Blog: Articles on market news, analysis, and trading tips
Investors who rely heavily on educational resources might find the offerings a bit sparse.
However, the quality of the available materials is high, providing useful insights and practical information.
Security and Safety
Regulatory Protection
The broker’s adherence to multiple regulatory standards ensures that clients’ funds are protected and that the company operates with a high level of transparency and accountability.
Fund Security
Client funds are kept in segregated accounts, separate from the company’s operational funds.
This ensures that client money is protected in case of any financial instability.
Data Protection
The firm employs advanced encryption technologies to safeguard clients’ personal and financial information, ensuring a secure trading environment.
User Experience
Platform Interface
The MT4 platform is user-friendly and feature-rich, making it suitable for both novice and experienced investors.
The interface is intuitive, with customizable charting tools and multiple order types.
Account Management
Managing accounts is straightforward.
The broker offers a seamless account opening process, easy deposit and withdrawal procedures, and comprehensive account management tools.
Trading Execution
This broker is known for its fast and reliable trade execution, minimizing slippage and ensuring that trades are executed at the best possible prices.
Promotions and Bonuses
Many brokers offer promotions and bonuses to attract new clients and retain existing ones.
While Purple Trading does not have an extensive range of bonuses compared to some of its competitors, it does provide occasional promotions that can add value to your trading experience.
Welcome Bonus
Sporadically, the broker offers a welcome bonus for new clients.
This bonus can vary in amount and is often tied to the initial deposit made by the client.
Referral Program
The company has a referral program where existing clients can earn bonuses by referring new clients to the platform.
This program provides an incentive for clients to bring in new customers and can be a good way to earn additional funds.
Loyalty Programs
Although not always available, it occasionally runs loyalty programs where clients can earn rewards based on their trading volume.
These programs are designed to encourage more trading activity and reward loyal clients.
Promotions Table
Promotion Type | Description | Availability |
Welcome Bonus | Bonus on initial deposit | Occasional |
Referral Program | Bonuses for referring new clients | Ongoing |
Loyalty Programs | Rewards based on trading volume | Occasional |
Market Research and Analysis
Purple Trading provides a range of market research and analysis tools to help clients make informed trading decisions.
These tools are essential for both novice and experienced users who rely on data-driven insights to guide their trading strategies.
Daily Market Analysis
The broker offers daily market analysis reports that cover major financial markets.
These reports include technical and fundamental analysis, market trends, and key economic events that can impact trading.
Economic Calendar
An economic calendar is available on the website, providing a schedule of important economic events and data releases.
This tool helps investors stay informed about market-moving events and plan their trading activities accordingly.
Trading Signals
For those who prefer to use trading signals, Purple Trading offers a range of signal services.
These signals are generated by experienced analysts and can be used to identify potential trading opportunities.
Research Tools Table
Research Tool | Description | Availability |
Daily Market Analysis | Technical and fundamental reports | Available on the website |
Economic Calendar | Schedule of economic events | Available |
Trading Signals | Generated by experienced analysts | Available through subscription |
Partnership Programs
Purple Trading offers several partnership programs for individuals and businesses looking to collaborate with the broker.
These programs are designed to provide mutual benefits and enhance their reach in the market.
Introducing Broker (IB) Program
The Introducing Broker program is aimed at individuals and businesses that refer new clients.
IBs earn commissions based on the trading activity of their referred clients.
White-Label Solutions
For businesses looking to offer trading services under their brand, the company provides white-label solutions.
This program allows partners to leverage the broker’s infrastructure and technology while maintaining their branding.
Affiliate Program
The Affiliate Program is designed for online marketers who promote its services through their websites and social media channels.
Affiliates earn commissions based on the traffic and new clients they generate.
Partnership Programs Table
Program Type | Description | Benefits |
Introducing Broker (IB) | Refer clients and earn commissions | Ongoing commissions |
White-Label Solutions | Offer trading services under own brand | Leverage its technology |
Affiliate Program | Promote services online and earn commissions | Commissions based on referrals |
Fees and Costs
In addition to spreads and commissions, it’s important to consider other fees and costs associated with trading.
Understanding these costs can help clients manage their trading expenses more effectively.
Inactivity Fee
The broker charges an inactivity fee of $5 per month for accounts that have been inactive for a certain period.
This fee is relatively low but can add up if an account remains inactive for an extended period.
Overnight Swap Fees
Overnight swap fees apply to positions held overnight.
These fees vary depending on the instrument and the direction of the trade (long or short).
It’s essential for users to consider these fees when planning their trading strategies.
Conversion Fees
For clients trading in currencies besides their account’s base currency, conversion fees may apply.
These fees are incurred when converting profits or losses back to the base currency.
Fees and Costs Table
Fee Type | Description | Amount |
Inactivity Fee | Charged for inactive accounts | $5/month |
Overnight Swap Fees | Applied to positions held overnight | Varies by instrument |
Conversion Fees | Applied to currency conversions | Varies by currency |
User Feedback and Community
User feedback and community engagement are crucial aspects of evaluating any brokerage service.
Purple Trading has a strong presence in the online trading community, and user feedback generally reflects a high level of satisfaction.
User Forums and Social Media
The broker actively engages with its users through various online forums and social media platforms.
This engagement helps the firm stay connected with its client base and address any concerns promptly.
Client Testimonials
Many clients have shared positive testimonials about their experiences with Purple Trading.
These testimonials often highlight its low spreads, fast execution, and excellent customer service.
User Feedback Table
Feedback Source | Description | Overall Sentiment |
User Forums | Active participation and support | Positive |
Social Media | Engaging content and quick responses | Positive |
Client Testimonials | Highlight low spreads and good service | Positive |
Final Thoughts
Purple Trading is a well-regulated and reputable broker that offers competitive trading conditions, a wide range of trading instruments, and excellent support.
Its user-friendly MT4 platform and variety of account types cater to investors of all experience levels.
While the absence of the MT5 platform and limited educational resources are minor drawbacks, the overall quality of services provided makes it a strong choice for both novice and experienced investors.
With its commitment to transparency, security, and customer satisfaction, it continues to be a reliable option in the online trading industry.
Whether you are a retail investor looking for low-cost trading solutions or an institutional client seeking high-volume trading capabilities, Purple Trading has something to offer.
Visit official website: www.purple-trading.scUser Reviews
Featured Video: cTrader vs. MT4
Frequently Asked Questions (FAQ)
Is Purple Trading regulated?
Yes, the company is regulated by multiple authorities including ASIC, CySEC, and FCA.
What is the minimum deposit required?
The minimum deposit required to open an account is $100.
Does it offer a demo account?
Yes, Purple Trading offers a demo account for traders to practice and get familiar with the platform.
What trading platforms are available?
Purple Trading offers the MT4 trading platform.
Are there any fees for deposits or withdrawals?
No, the broker does not charge any fees for deposits or withdrawals.
Does it support Islamic accounts?
Yes, Purple Trading offers Islamic accounts for clients who follow Sharia law.
What payment methods are accepted?
This broker accepts various payment methods including bank transfer, credit/debit cards, Skrill, Neteller, PayPal, and Bitcoin.
Resources
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This article has been written, edited and reviewed by the following members of our team:
Last update:September 7, 2025
