Purple Trading Review: Why Purple Trading Excels in Transparency
If you heard of purple-trading.com, then you probably know how reliable they seem. This Purple Trading review covers everything from transparency to regulation and security. Just at first glance, we could already notice the well-designed and information-rich website, which provided us with a sense of security from the start.
Keep reading to learn more about the broker Purple Trading, and don’t forget to read our PrimeSpotWay review about a broker you should avoid at all costs.
Who Is Purple Trading?
Purple Trading, a company owned by LF Investment Limited and established in 2015 by Czech and Slovak traders, offers customers a typical ESMA-compliant, CySEC-regulated brokerage. The broker is also registered as a cross-border service provider across multiple nations and adheres to regulations within each jurisdiction it operates from.
The company’s information regarding the owner and employees is transparently shown on its website, along with an explanation of how the firm was established. Overall, the company seems very transparent and reliable, with great trading conditions and unlike TradeFCA, we actually know who is behind the broker.
|Reliable Broker Must Have
|L.F. Investment Limited
|Transparently displayed in the disclaimer or legal documents
|Regulated by CySEC
|Within your legal jurisdiction – local regulator
|11, Louki Akrita CY-4044 Limassol
Masarykova 409/26, Brno, 602 00, Czech republic
Vinohradská 2828/151130 00 Praha 3-Žižkov
|Your country or the country whose license applies in your legal jurisdiction
|The older the domain – the higher the possibility the company is trustworthy
|Domain should be from local or international zones, no .xyz, etc.
|Financial Authorities Warnings
|+44 14 46 506 711
+420 228 881 245
+357 25 577 211
+357 25 030 444
|Phone, email, social media, web form
|If a withdrawal is possible
|Transparent fees – list of spread and commissions
|If Active on Social Media
|Often present on social media
|ICF Compensation fund
Is Purple Trading Regulated?
L.F. Investment Limited, a recognized Cyprus Investment Firm regulated by the CySEC with license number 271/15, owns and operates the trademark (no. 85981) Purple Trading. Legally, L.F. Investment Limited must abide by all Cypriot laws and the guidelines and requirements of its CySEC license.
The primary goals of ESMA, an autonomous organization of the European Union, are to improve investor protection and foster healthy financial markets. The firm follows ESMA regulations. Additionally, the broker is a registered service provider across multiple nations.
Purple Trading Broker Profile
Trading forex, stocks, indices, commodities, and futures has never been easier, with the help of the Purple Trading MT4 and cTrader platforms. Purple Trading swap accounts include both short and long swaps. You can trade over 60 currency pairs, speculate on rising and falling prices, and enjoy fast executions and low spreads.
The Purple Trader cTrader allows investors to enjoy a user-friendly platform with many beneficial factors or if you want a more familiar trading experience, you can use the popular MT4. Fees are transparently shown on the website, with each fee having an explanation of why it’s charged.
|Financial Instruments On Offer
|1:30, 1:100, 1:500
|5, 8, 10 USD/lot
|Education or Extra tools
|News, eBooks, How to Trade Blogs, Glossary, Macroeconomic Calendar, FAQ
Is Purple Trading Safe To Trade With?
There are many benefits while trading with this firm, including the Purple Trading demo account, which allows you to test their services before investing real money. They are transparent, regulated, and adhere to rules in each nation they operate from. Additionally, this trading firm has a great reputation.
Trading with this investment firm can be beneficial or you can always sign up for the Introduce a Broker program at the Purple Trading login page. The firm also provides various educational materials so you can enter trading with the right knowledge.
Traders Share Their Experiences
The broker has an overall score of 3.8 on Trustpilot, based on 79 reviews in total. Many traders praise the broker for a good job. However, there are still some of them who think they are an unreliable choice. Over 20% of the reviews are unfavorable, indicating potential issues.
Traders complain about recurring errors in the data, expensive services, and a lack of profits. Luckily, no withdrawal issues are reported, which makes trading with this investment firm safer.
Who Are the Traders They Cater To?
With its affiliate and IB program, this trading firm attracts investors from all around the globe. At first, they started out as a small business in Czechia and then expanded throughout the globe. Today, they offer even three physical locations and operate as an award-winning brokerage.
The firm mainly caters to traders including Czechia, Slovakia, Poland, Italy, and the United States. Even though regulated and licensed, accepting US clients requires adhering to regulatory rules in that nation, and a license from the U.S. Securities and Exchange Commission (SEC).
Deposits and Withdrawal Methods
The Purple Trading minimum deposit of $100 can be deposited only with credit/debit cards. There are no fees while depositing except for the 0.5% for international payments in other currencies. The deposit is processed instantly unless you use domestic payment in CZK and PLN.
As for withdrawals, they are processed within 1 business day by the broker. However, it depends on your bank when the funds will be processed. You must use the same credit/debit card you used while depositing to withdraw your funds.
Weighing the Pros and Cons
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What is Purple Trading?
It is a brokerage firm that offers online trading services to clients interested in various financial markets.
Is Purple Trading a regulated broker?
The brokerage is regulated by the Cyprus Securities and Exchange Commission (CySEC)
Where is Purple Trading located?
This investment firm is located in the Czech Republic. Their headquarters are specifically in Prague, the capital city of the Czech Republic, and in Limassol Cyprus.