Introduction to Purple Trading
Purple Trading is an online trading platform that offers a wide range of assets including forex, CFDs, and cryptocurrencies. The company is headquartered in Dublin, Ireland and is regulated by the Central Bank of Ireland.
The platform offers a variety of features to its users including a demo account, 24/7 customer support, and a wide range of educational resources. Purple Trading also has a mobile trading app available for iPhone and Android devices.
Pros:
– Wide range of assets available for trade
– Regulated by the Central Bank of Ireland
– Demo account available
– 24/7 customer support
– Mobile trading app available
Cons:
– Limited payment methods accepted
The Platforms Offered by Purple Trading
The platforms offered by Purple Trading include the MetaTrader 4 (MT4) and WebTrader platforms. The MT4 platform is a popular choice for Purple Trading clients, as it offers a range of features and tools that can be used to trade the financial markets. The WebTrader platform is a web-based platform that is designed to be user-friendly and provides traders with the ability to trade from anywhere in the world.
The Pros and Cons of Trading with Purple Trading
When it comes to online trading, there are a lot of different brokerages to choose from. So, how do you know if Purple Trading is the right one for you? In this article, we’ll go over the pros and cons of trading with Purple Trading so that you can make an informed decision.
The Pros:
-Low minimum deposit: You can start trading with as little as $100.
-No commissions or hidden fees: Purple Trading doesn’t charge any commissions on trades.
-Demo account available: You can try out the platform risk-free with a demo account.
-Wide range of markets: You can trade forex, CFDs, indices, commodities, and more.
The Cons:
-Limited customer support: There is no live chat or phone support available.
-Platform can be buggy: Some users have reported issues with the platform freezing or not working properly.
What do Other Traders Think of Purple Trading?
Other traders appear to be happy with Purple Trading. Overall, users on different forums give the company high marks for its customer service, reliability, and platform features. Some users do complain about the company’s withdrawal process and fees, but these complaints seem to be in the minority. Overall, it appears that other traders think highly of Purple Trading and are generally satisfied with the company.
Are There Any Regulatory Concerns with Purple Trading?
Are There Any Regulatory Concerns with Purple Trading?
As with any online broker, there are regulatory concerns with Purple Trading. The company is not regulated by the US Securities and Exchange Commission (SEC), which may be a concern for some investors. However, the company is registered with the Financial Industry Regulatory Authority (FINRA) and is a member of the National Futures Association (NFA). These organizations help to ensure that Purple Trading operates fairly and transparently.
Conclusion
Purple Trading is a reliable and regulated online broker that offers a wide range of tradable assets, flexible leverage, and tight spreads. Overall, we found the platform to be user-friendly and well-designed with a good selection of indicators and charting tools. The main drawbacks are the lack of customer support and the high minimum deposit requirement.