Purple Trading was founded in 2016 and is controlled by LF Investment Limited, a Cyprus Securities and Exchange Commission-registered investment company (CySEC). The broker also adheres to European MiFID standards, which promotes the transparency of financial markets in the European Union. By utilizing cutting-edge technologies, the broker is committed to providing a fair trading environment. Services can be provided via ECN or STP without the use of a dealing desk, providing swift order execution and competitive conditions that are both trustworthy and investor-friendly (NDD). The broker links to a number of liquidity providers and large institutions via a low-latency connection. Purple Trading strives to provide clients with the best possible connection by pooling liquidity, minimizing slippage, and reducing connection time. The broker’s trading server is in London, and the execution time is 100 milliseconds.
Clients can trade online using two platforms: cTrader and MetaTrader 4. (MT4). Please keep in mind that the famous MT5 trading terminal is not presently available from the firm. Both platforms are compatible with all major online browsers and may be downloaded on desktop, mobile, and tablet devices.
The brokerage company offers clients investment and CFD trading opportunities in the following markets:
Since Purple Trading is regulated by CySEC, the forex broker complies with all ESMA regulations, limiting leverage to a maximum of 1:30 for inexperienced retail clients. Maximum leverage rates:
More experienced merchants, on the other hand, can obtain rates of up to 1: 100 provided certain conditions are met. You must fulfil the experience and knowledge requirements for this classification. Clients must have suitable professional certificates, at least 50 hours of derivatives training, or one year of experience in a job that requires understanding of derivatives trading to demonstrate sufficient competence. Furthermore, several degrees of trading needs can be accomplished by utilising numerous big CFDs throughout a two-year period.
Purple Trading also provides professional accounts with leverage of up to 1:500, however they lack the negative balance protection given by both retail account categories.
Both trading platforms may be accessed via mobile applications. MetaTrader 4 and the cTrader app are free to download and are compatible with iOS and Android smartphones (APK). MetaTrader Mobile allows users to access the desktop platform’s trading capabilities, such as analytical tools, custom charts, and charting, while on the move. cTrader’s online terminal features are fully customizable:
For ECN and STP account types, the minimum deposit is zero for some bank transfers and $ 20 / € 20 / GBP 20 / PLN 80 for other methods. Purple Trading does not charge any fees for payment methods, although third-party costs may apply. To deposit and withdraw funds, customers must first enter onto a personal login. The following payment methods are accepted:
Currency conversion fees may also apply when funding accounts in different currencies. Bank transfers are only accepted in EUR, USD, GBP, PLN and CZK.
Purple Trading has a free demo account with five potential base currencies, which may be accessed via their website. These accounts are a wonderful method to experience trading, learn how to use platform features, or test a strategy without putting your money at risk. Traders can access virtual money worth up to $ 10,000,000 and trade with real-time trading conditions and pricing. To establish a demo account, you must complete a quick online registration form. Clients can select from a variety of trading platforms and account kinds (ECN or STP).
The Cyprus Securities and Exchange Commission has authorised and regulated Purple Trading (CySEC). It is a well-known retail financial speculation regulator. With this authorization, retail clients may be guaranteed of receiving payments from prominent banks and being protected against negative balances. In addition, the broker is subject to regular external audits and holds additional worldwide FCA and CONSOB licences to provide services in other jurisdictions.
With coverage through the Investor Compensation Fund, the broker provides improved financial protection (ICF). The plan covers qualifying clients’ deposits up to € 20,000 in the case of a business failure.
Retail clients can choose between two account types based on whether the execution model is STP or ECN. They are compatible with both trading platforms. Please keep in mind that the ECN account is set as the default account for all new registrations. If you want to trade with a STP account, please contact customer support. Account currencies accepted include EUR, USD, CZK, GBP, and PLN. Examining live trading accounts:
Suitable for traders who want to keep positions open for a longer period of time.
Suitable for intraday trading
Account registration may be done online in minutes, allowing you to create a live account. In compliance with Know Your Customer (KYC) rules, you may be requested to produce proof of identification, such as proof of residency.