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Purple Trading Review
Purple Trading: A Broker Built on Transparency and Integrity
Founded in 2016 and regulated by CySEC, Purple Trading has earned a reputation as a trustworthy broker committed to transparency and integrity. With a strong focus on fair trading conditions, the company assures traders of no stop-loss hunting, market manipulation, delayed execution, or excessive slippage. Traders can access a wide range of financial instruments and choose between MetaTrader 4 and cTrader platforms, with additional opportunities for passive investment strategies.
About Purple Trading
Headquartered in Brno, Czech Republic, Purple Trading is a globally recognized broker led by CEO David Varga. The company is dedicated to providing traders with optimal conditions, including tight spreads, minimal commission fees, and three distinct account types. Their extensive offering of trading instruments encompasses forex pairs, indices, commodities, stocks, and futures.
Purple Trading’s mission centers on fostering equitable business terms, utilizing cutting-edge technologies, and building long-term partnerships with traders. Their belief is that trust is the cornerstone of success in the financial markets.
Account Types
Purple Trading offers three account types, each tailored to meet varying trading needs:
- STP Account:
- Spreads starting at 1.3 pips
- No restrictions on trading strategies (scalping allowed)
- No commission fees
- ECN Account:
- Spreads starting at 0.3 pips
- No restrictions on trading strategies (scalping allowed)
- Commission fees (5-10 USD per lot)
- PRO Account:
- Spreads starting at 0.0 pips
- No restrictions on trading strategies (scalping allowed)
- No commission fees
Trading Instruments
Purple Trading provides traders with access to the world’s most liquid financial markets, offering various CFDs and currency pairs.
Trading Instrument | Number of Instruments |
---|---|
Forex | 59 Currency Pairs |
Indices | 10 Indices |
Commodities | 8 Commodities |
Stocks | Over 100 Stocks |
Futures | 18 Futures |
Trading Platforms
Purple Trading offers two globally renowned trading platforms: MetaTrader 4 and cTrader, available on both desktop and mobile devices.
MetaTrader 4
MetaTrader 4 is a gold standard for experienced Forex traders, featuring:
- Intuitive user interface
- Comprehensive technical analysis tools
- Real-time currency updates
- Mobile trading capabilities
- Support for over 30 languages
With three trade execution modes (instant execution, execution on request, and execution on the market), MetaTrader 4 empowers traders with greater flexibility and precision.
cTrader
cTrader is designed for forex and CFD traders, offering:
- Advanced charting tools
- Customizable coding capabilities
- Level 2 pricing insights
- Rapid order execution
- A sleek user interface
The platform provides a balance between simplicity and complexity, catering to both novice and experienced traders.
Safety and Regulation
Purple Trading is regulated by two prominent financial authorities:
- CySEC (Cyprus Securities and Exchange Commission)
- ESMA (European Securities and Markets Authority)
Clients can open trading accounts with one or more authorized entities based on their country of residence, ensuring tailored investor protection.
Region | Legal Entity | Regulator | Protection Amount |
European Union | Purple Trading s.r.o. | ESMA | €100,000 |
EEA Countries | L.F. Investment Limited | CySEC | €20,000 |
Purple Trading also offers negative balance protection for European clients, safeguarding them from potential losses beyond their account balance.
Customer Support
Purple Trading ensures top-notch customer support through multiple channels, available 24/5.
- Live Chat Support: Real-time assistance from knowledgeable agents.
- Email Support: Prompt and comprehensive responses within one business day.
- Phone Support: Efficient resolutions through direct communication.
VPS & Trade Copier Services
Purple Trading provides beneficial VPS and Trade Copier services for enhanced trading operations.
VPS (Virtual Private Server)
A VPS ensures a low-latency, 24/7 connection, ideal for:
- Trading with Expert Advisors (EAs)
- Managing multiple trading accounts
- Trading on Mac devices
Trade Copier
A Trade Copier allows traders to duplicate trades across multiple accounts seamlessly. Benefits include:
- Simultaneous trade execution
- Efficient risk management
Example Setup:
Trading Account | Account Size | Risk per Trade |
Broker (IC Markets) | €5,000 | 2% (€100) |
Prop Firm (FundedNext) | $100,000 | 0.6% ($600) |
Prop Firm (Funding Pips) | $50,000 | 0.5% ($250) |
Educational Resources
Purple Trading offers a wealth of educational content to empower traders:
- News: Comprehensive market insights, interviews, and swing overviews.
- Ebooks: Informative resources covering fundamental and advanced trading strategies.
- How To Trade: Tutorials and guides for traders at all experience levels.
- FAQ Section: Answers to common trading-related queries.
Conclusion
Purple Trading stands out as a top-tier Forex broker, offering a seamless trading experience through MetaTrader 4 and cTrader platforms. Their commitment to transparency, competitive trading fees, and a robust regulatory framework make them a trusted partner for traders worldwide. With extensive educational resources, secure trading environments, and advanced trading tools like VPS and Trade Copier services, Purple Trading continues to solidify its reputation as a reliable broker for traders of all experience levels.