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Introduction to Purple Trading
Purple Trading is an international online trading brand licensed in Cyprus and Seychelles. Purple Trading is a real STP broker and welcomes traders from most countries. This Purple Trading review introduces you to the company’s trading products and investments services and examines the differences between the European and international offerings.
| Headquarters | Cyprus |
| Regulation | CySEC, SFSA |
| Instruments | Forex, energies, precious metals, CFD stocks, indices, commodities and bonds |
| Demo account | Yes |
| Minimum deposit | $100 (depending on the region) |
| Minimum spread | From 0.3 |
Pros and cons of trading with Purple Trading
Pros
- Purple Trading is positioned to tackle the Czech and Slovak forex trading market, with branches in Prague and Brno.
- Purple Trading offers the cTrader platform alongside MT4.
- The broker operates an actual straight-through processing execution model.
- Offers passive investment products.
Cons
- While Purple Trading Seychelles offers higher leverage, it lacks a number of features. For example, it doesn’t offer cTrader, only supports SEPA bank transfer deposits and doesn’t provide any passive investment products.
- Costs are a bit higher than competing brokers, which is typical of real STP brokers.
- Fees are charged for most deposit methods.
Purple Trading licenses and regional entities
Purple Trading is an online trading brand used by two licensed firms. One of the companies is licensed in Cyprus and authorised to provide services throughout the EEA, but must follow ESMA restrictions on retail customers. The other brokerage using the Purple Trading brand is licensed in Seychelles, meaning it can offer higher leverage, bonuses and other exciting features.
L.F. Investment Limited
- Operates under the brand Purple Trading.
- A licensed Cyprus Investment Firm regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 271/15.
- Only accepts clients from the EEA, except for Belgium.
- The Purple Trading European website is at www.purple-trading.com.
- The minimum deposit is $100.
- Stop out level is 50%.
- The maximum leverage is 1:30 unless you qualify as a professional trader, in which case, leverage can be increased to 1:400.
AXSE Brokerage Ltd
- Operates under the brand Purple Trading.
- Licensed and regulated by the Seychelles Financial Services Authority (SFSA) with license number SD041.
- Accepts clients worldwide, including the EEA. Several countries are restricted from trading with this company, notably those considered high risk by the FATF.
- The Purple Trading international website is at www.purple-trading.sc.
- The minimum deposit is $500.
- Stop out level is 20%.
- The maximum leverage is 1:500.
Purple Trading account types
Like most forex brokers, Purple Trading offers different account types to suit different trading styles. All trading accounts can be denominated in various currencies, allowing you to choose from EUR, USD, CZK, PLN or GBP.
ECN account
The Purple Trading ECN account is designed for active trading strategies, such as those use scalping or algorithmic trading techniques. The upside of this account is the lowest possible spreads, which start at 0.3 pips. However, trades placed using the ECN account incur a fee of $10 per lot. The can be lower by enrolling on Purple Trading’s loyalty program.
STP account
The Purple Trading STP account, also known as the Standard account, is designed for less active trading strategies. This account has spread starting from 1.3 pips, but no commissions are charged.
Purple Trading platforms
Purple Trading offers two outstanding platforms that will cater to almost any traders’ needs. The Purple Trading MT4 platform is available to all clients. In contrast, the Purple Trading cTrader platform is only available to customers of the European entity, which is something to consider before sighing up.
Purple Trading products
- Forex: Purple Trading offers more than 60 currency pairs.
- Precious metals: The company provides four precious metals, which are gold, silver, platinum and palladium.
- Oil: Purple Trading offers UK Brent oil and US crude oil.
- Indices: Purple Trading offers nine stock market indices, including the German DAX40, US DOW30 and UK FTSE100.
- Shares: Purple Trading offers over one hundred global shares in the Purple Trading MT4 platform.
- Stocks: Purple Trading can invest in real stocks on the Italian stock market. You can buy Italian shares on the Purple Trading MT4 platform.
- CFD futures: The broker offers a wide range of CFD futures, including various commodities, bonds and the US dollar index.
Purple Trading review conclusion
To conclude this Purple Trading review, we’d like to highlight that this broker is one of the few remaining straight-through processing brokers left in the industry. While many brokers identify as providing ECN-pricing, Purple Trading actually runs an STP model. Per the MiFID regulations, brokers are required to highlight their execution venues. In the case of Purple Trading, you can see from their annual RTS28 report, which you can find in the company’s legal documents section, the company is executing trades with IS Prime and LMAX.
Frequently asked questions
What is the Purple Trading minimum deposit?
The minimum deposit for Purple Trading depends on which Purple Trading brokerage you’re opening a trading account with. For Purple Trading in Cyprus, the minimum deposit is $100, whereas, for Purple Trading Seychelles, the Minimum deposit is $500.
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