Purple Trading is a FX/CFD broker founded in 2016 roku. From the very beginning, it emphasizes transparency and honesty towards customers. It works in the STP/ECN model offering direct market access. For example, it also shares statistics on slippage, execution of orders or the spread over time (data here).
On the broker website you can also read his motto:
No price manipulations, no profit from your losses, just pure STP model.
The company has registered with local national regulators such as the Financial Conduct Authority (FCA) in the UK, the Czech National Bank (CNB) in the Czech Republic, the National Bank of Slovakia (NBS), German Federal Financial Supervisory Authority (BaFin) and more. Purple Trading’s license also allows to offer Portfolio Management and Execution of Orders on behalf of the Client via PAMM. This has opened the door to offer ETF Portfolios, which are popular for automated passive investing and a variety of FX trading strategies which can be copied.
Purple Trading have also a company registered in Seychelles which have SFSA license and is offering a bit different trading conditions.
Purple Trading offer
The broker offers access to many CFD instruments based on forex, stock indices, commodities and stocks. In addition, it allows you to trade futures on commodities and indices.
Purple Trading allows you to access over 60 currency pairs, ranging from major currency pairs to exotic pairs. The maximum leverage level is 1:30.
CFDs on stock indices allow you to speculate with the largest stock indices from around the world, including the German DAX, American SP, NASDAQ or DOW, as well as indices from Great Britain, Australia, Japan and France. The maximum leverage on indices is 1:20.
Purple Trading gives you access to CFDs on oil, gold and silver, as well as other metals and commodities. The maximum leverage is 1:20.
CFDs on stocks of over 100 companies from around the world with a leverage of 1: 5.
Wheat, coffee, soybean and corn futures. In total, Purple Trading gives you access to nearly 20 contracts with a maximum leverage of 1:10.
Account types in Purple Trading
Purple Trading offers access to 4 account types:
It is a standard account with this broker, offering access to direct quotes from liquidity providers, i.e. the lowest possible spreads (from 0.3 pips). However, it is worth remembering that an additional commission is charged on the transaction, as is always the case with ECN accounts.
The commission ranges from USD 5 to USD 10 per 1 lot, and its amount depends on your status as a trader. You can apply for a higher status based on your turnover.
Standard trading account, where no commission is charged on the turnover, but only the spread, which in this case is slightly higher and amounts to min. 1.3 pips.
It is an account for professional traders, which meet some exact requirements established by ESMA.
This is a completely separate broker offer that allows you to invest in ETF portfolios or dynamic investment strategies. Access to the account can be obtained by completing the appropriate questionnaire in the customer panel.
Is Purple Trading safe?
Yes, the broker has been operating on the market since 2015 and has branches in several European countries.
Is Purple Trading legal?
The broker can provide its services in the EU on the basis of a CySEC license. It has also company licensed in Seychelles.
What can you invest in on Purple Trading?
Purple Trading allows you to invest in CFDs on indices, commodities, stocks, futures, currencies (forex).
Is the Purple Trading account free?
Yes, the broker charges a commission and spreads on the transactions made.