Introduction to Purple Trading
Purple Trading is a forex trading broker which offers cTrader and MetaTrader4. The brokerage is regulated by CySEC in Cyprus, where Purple Trading is the brand name of L.F. Investment Limited. Because of the European regulation, the company only provides online trading services to clients from within the European Economic Area, with the exception of Belgium and Switzerland.
About Purple Trading
The brand Purple Trading was first launched in 2016. But there is much more experience behind the team. Purple Trading is a project where two companies join forces to bring the best of their experience and expertise to build a world-class forex broker. An innovative technology company called Purple Technology which is based in the Czech Republic joins forces with L.F. Investment Limited, which is an investment company licensed in the EU. The company is authorized to provide investment services across the European Union. Therefore is registered with local regulators such as the Financial Conduct Authority (FCA), Czech National Bank (CNB), National Bank of Slovenia (NBS), German Federal Financial Supervisory Authority (BaFin) and more.
Purple Trading Account Types
Three account types are offered. You will have a choice of an STP account, which has a wider spread but no commissions, an ECN account which charges commissions but has very low spreads or a crypto account which is specifically for trading cryptocurrencies. Whichever account type you choose, Purple Trading has four statuses which have some requirements but come with advantages. The requirements are based loyalty, in particular, your deposit and how long you have been actively trading with the firm. As for the advantages, there is a long list which you should check out here.
Unique Selling Points
When you trade with Purple Trading you can get access to a variety of tools and services that can enhance your trading experience and success. Some of the advantages are only available to qualified traders. Here are some of the advantages that stick out to us.
Trading Mentor Application
The Mentor Application monitors your activity in real time. It checks how disciplined you are. If you breach the rules, preset by you, you’ll get a notification. The application helps you to control the risk effectively and keep your emotions under control. The mentor will naturally improve your self-confidence and, in particular, to establish the right trading behaviour.
Purple Trading gives you extra indicators, currently just for MT4. As they have just recently launched cTrader, we could expect these added soon. They give three custom indicators to help with your trading analysis.
Free Deposits and Withdrawals
For Prime and VIP clients, they cover fees for all deposits credited to trading accounts, as well as withdrawals via bank wire transfer, credit card or via Skrill and Neteller e-wallets.
cTrader Broker Index
Considering that Purple Trading has recently launched cTrader, it would be hard to justify a high score right away. Since a number of the unique selling points available on MT4 are not yet available for cTrader we are giving a score of 5/10. We will monitor them closely over the next few months and reevaluate the score if they add more advantages for cTrader too.