Purple Trading Broker Review

　　

Purple Trading 2025 Review: Everything You Need to Know

　　Summary: Purple Trading is a regulated forex and CFD broker that offers a range of trading options and platforms, including MT4 and cTrader. While it has garnered praise for its competitive spreads and fast execution, mixed reviews highlight concerns about customer service and high trading costs.

　　Note: Its important to consider that Purple Trading operates under different entities across regions, which may impact the regulatory protections available to clients. This review aims to provide a fair and accurate assessment based on multiple sources.

　　Rating Box:

• Account Conditions: 6.5/10
• Tools and Resources: 7/10
• Customer Service and Support: 5/10
• Trading Setup (or Experience): 6/10
• Trust Level: 8/10
• User Experience: 6/10
• (Optional) Additional Rating: 7/10 (for educational resources)

　　How We Rate Brokers: Our ratings are based on a comprehensive analysis of user reviews, expert opinions, and factual data regarding the broker's offerings.

　　

Broker Overview

　　Established in 2016, Purple Trading is owned by L.F. Investment Limited and is regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker primarily serves clients within the European Economic Area (EEA) and offers a variety of trading platforms, including the popular MetaTrader 4 (MT4) and cTrader. Purple Trading provides access to a range of asset classes, including forex, CFDs, stocks, and ETFs, making it a versatile choice for traders.

　　

Detailed Section

　　

Regulated Geographic Areas

　　Purple Trading is regulated by CySEC, ensuring compliance with EU financial regulations. However, the broker does not accept clients from outside the EEA, including restrictions for traders from the USA, Switzerland, and Belgium. This limited availability may impact those looking for a more global trading experience.

　　

Deposit/Withdrawal Currencies/Cryptocurrencies

　　The broker supports multiple currencies for deposits and withdrawals, including EUR, USD, CZK, GBP, and PLN. While it does not currently offer cryptocurrency trading, clients can fund their accounts using various methods such as credit/debit cards, bank transfers, Neteller, and Skrill.

　　

Minimum Deposit

　　The minimum deposit to start trading with Purple Trading is set at $100. This relatively low entry point is attractive for new traders looking to enter the forex market without committing substantial capital upfront.

　　

Bonuses/Promotions

　　Due to ESMA regulations, Purple Trading does not offer bonuses or promotions. However, it has a loyalty program that rewards active traders with reduced spreads and commissions based on their trading volume and account status.

　　

Tradable Asset Classes

　　Purple Trading provides access to over 60 currency pairs, various commodities, indices, and a selection of stocks. However, the range of available assets is somewhat limited compared to some competitors, particularly in the area of cryptocurrencies.

　　

Costs (Spreads, Fees, Commissions)

　　The broker offers competitive spreads, starting from 0.3 pips for its ECN accounts and 1.3 pips for STP accounts. However, commissions vary based on account type and trader status, with fees ranging from $5 to $10 per lot. Additionally, there are costs associated with currency conversions and potential inactivity fees for dormant accounts.

　　

Leverage

　　Retail clients can access leverage of up to 1:30, in line with ESMA regulations, while professional clients may qualify for leverage up to 1:500. This tiered approach allows experienced traders to maximize their trading potential.

　　

Allowed Trading Platforms

　　Purple Trading supports both MT4 and cTrader, catering to various trading styles and preferences. While MT4 remains a popular choice due to its extensive features and customizability, cTrader is recognized for its user-friendly interface and advanced trading capabilities.

　　

Restricted Regions

　　As mentioned, Purple Trading does not accept clients from outside the EEA, including specific restrictions for the USA and several European countries. This limitation could deter potential clients looking for a more inclusive trading environment.

　　

Available Customer Service Languages

　　Customer support is available in multiple languages, including English, Italian, Polish, and Czech. However, user reviews indicate that response times can be slow, which may frustrate traders seeking immediate assistance.

　　

Repeated Rating Box

• Account Conditions: 6.5/10
• Tools and Resources: 7/10
• Customer Service and Support: 5/10
• Trading Setup (or Experience): 6/10
• Trust Level: 8/10
• User Experience: 6/10
• (Optional) Additional Rating: 7/10 (for educational resources)

　　

Detailed Breakdown Section

　　

Account Conditions

　　Purple Trading offers various account types, including STP and ECN accounts, with competitive spreads. However, the tiered commission structure may lead to higher costs for many traders, especially those who do not meet the higher deposit thresholds for reduced fees.

　　

Tools and Resources

　　The broker provides a range of educational resources, including webinars and eBooks, which can be beneficial for beginner traders. However, the lack of comprehensive market analysis tools may limit the effectiveness of these resources for more experienced traders.

　　

Customer Service and Support

　　While customer support is available in multiple languages, feedback from users suggests that response times can be inadequate, leading to frustration among clients. This area is one where Purple Trading could improve significantly.

　　

Trading Setup (or Experience)

　　Users report a mixed experience with the trading platforms. While MT4 and cTrader are generally well-received, some traders have encountered technical issues that hinder their trading experience.

　　

Trust Level

　　Purple Trading is regulated by CySEC, which provides a level of trust and security for clients. The broker also participates in the investor compensation fund, offering additional protection for client deposits.

　　

User Experience

　　Overall, user experiences vary widely, with some praising the broker for its fast execution and competitive spreads, while others express dissatisfaction with customer service and high trading costs. This dichotomy suggests that potential clients should carefully consider their trading needs before opening an account.

　　In conclusion, while Purple Trading presents itself as a reliable broker with regulatory backing and competitive trading conditions, potential clients should weigh the mixed feedback and consider their specific trading requirements before proceeding.