Purple Trading is an online broker that is regulated in multiple jurisdictions and offers multi-asset trading with reliable and transparent conditions. The broker offers forex and CFD trading in a range of instruments across different markets, such as Forex, indices, stocks, cryptocurrency, metals, energies, and other commodities.
Launched in 2016, Purple Trading brings innovation to the online trading world and continues to improve their trading services. They use a Direct Interbank Market Access (DMA) model, offering interbank variable spreads with good execution spreads for all traders and supporting all trading styles, including scalping, hedging, and high-frequency trading.
Purple Trading Review Introduction
In this Purple Trading review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including Purple Trading.
Purple Trading Platforms & Tools
The broker provides clients with the following trading solutions:
MetaTrader 4 (MT4) Trading Platform
It is user friendly and suitable for novice and advanced traders alike. With a range of advanced charting, trading, and automation tools, MT4 makes it easy to analyze the markets, place different orders, manage your trades, and even implement automated trading. The platform is available as a web version, a desktop application, and mobile apps for Android and iOS devices.
This is an advanced trading platform with many interesting features. It is available in desktop, web, and mobile versions.
It provides direct access to the liquidity providers and is available for professional traders who need faster order execution.
In addition to the tools in the various trading platforms, the broker also provides some other useful trading tools, such as Autochartist, Purple Extreme Indicator, Purple Strike Indicator, and Purple Bands Indicator.
Purple Trading Research & Education
The broker’s website has the Purple Academy, but it only contains a few articles and guides that are not frequently updated.
Purple Trading: Trading Accounts
Purple Trading offers 3 basic account types:
- STP Account
- ECN Account
- Crypto Account
The minimum deposit is €100 or the equivalent in another currency, and leverage usually varies from 1:2 to 1:30. Spreads and commission vary with the account type. Islamic swap-free accounts may be available on request. There are demo accounts for those who wish to test their strategies in a risk-free environment before going live.
Purple Trading Account Funding
Purple Trading accepts a selection of convenient payment methods for account funding and withdrawals. They include bank wire, credit/debit card, and online payment systems, such as Neteller, and Skrill.
Purple Trading Customer Service
The broker provides customer support services via online chat, telephone, and email. there are UK and Cyprus numbers on the website.
Purple Trading Regulation
Purple Trading is regulated in multiple jurisdictions as follows:
- The brand is owned and operated by L.F. Investment Limited, which is a licensed Cyprus Investment Firm regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 271/15
- In the UK, the broker is authorized and regulated by the Financial Conduct Authority (FCA)
- Through their MiFID II passport, Purple Trading is authorized to operate in all EU countries, so they are also registered with BaFin in Germany, ACPR in France, CONSOB in Italy, CNMV in Spain, FSA in Denmark, and AFM in the Netherlands.
Purple Trading Review Summary
Purple Trading is an innovative online trading broker that offers forex and CFD trading using some of the best technologies available. They provide powerful trading platforms and useful trading tools.
It is worth mentioning that some of the trading products and services in this Purple Trading review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the Purple Trading broker website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.