Purple Trading Reviews

Purple Trading is creating a niche for active traders looking for different tools and advanced features. This review looks at the strengths and weaknesses of Purple Trading and its suitability for different investor profiles.

Pros:
Diverse trading tools: Purple Trading boasts a wide range of tools that includes forex pairs, CFDs on stocks, indices and commodities. This allows traders to implement different strategies and diversify their portfolios.

Competitive spreads. It offers both fixed and variable spreads, potentially reducing the cost of trading, especially for traders with high trading volume.

Multiple Trading Platforms: Purple Trading offers an impressive selection of 15 trading platforms, including standard options such as MetaTrader 4 (MT4) and cTrader. This suits a wide range of user preferences and trading styles.

Focusing on active traders: features such as advanced charting tools, algorithmic trading support on some platforms and fast order execution cater to the needs of active traders.

Disadvantages:
Regulatory concerns: while Purple Trading is regulated by CySEC, some traders might prefer brokers in a stricter regulatory environment. Thorough research into their regulatory status is essential.

Limited educational resources: compared to some competitors, Purple Trading’s educational resources may be less extensive. This could be a disadvantage for novice traders.

Potentially high fees for low-volume traders: While spreads can be competitive, the fee structure, especially for lower trading volumes, can lead to higher overall fees. Carefully evaluate fee structures before committing.

Who is Purple Trading suitable for?
Active traders: If you are an experienced and active trader looking for a diverse range of instruments, competitive spreads and advanced platforms, Purple Trading deserves consideration.

Users with specific platforms: if you are already familiar with a specific platform, such as MT4 or cTrader, and it suits you, Purple Trading offers seamless integration.
Cost-conscious, high-volume traders: High-volume traders can potentially benefit from Purple Trading’s competitive spreads, especially for fee-based accounts.

Important considerations:
Research Regulation: Don’t rely solely on Purple Trading’s claims. Research their regulatory status and compare it to other brokers to make sure it matches your comfort level.
Explore educational resources: review the educational materials available on the Purple Trading platform. If you are a beginner, consider supplementing them with external resources.

Evaluate the fees relative to your trading volume: Carefully analyze Purple Trading’s fee structure, including spreads, commissions (if applicable) and inactivity fees to make sure they match your trading volume and budget.

Conclusion:
Purple Trading offers an interesting package for active traders looking for diverse tools, advanced platforms and competitive spreads. However, potential regulatory concerns, limited educational resources, and potentially high fees for low-volume traders require careful consideration. Before making a decision, conduct thorough research, assess your needs, and make sure Purple Trading fits your trading objectives and risk tolerance.