Purple Trading Review

Purple Trading is an online brokerage that operates under various regulations, allowing for multi-asset trading with clear and dependable conditions. This broker specializes in forex and CFD trading, offering a diverse array of instruments across multiple markets including Forex, indices, stocks, cryptocurrencies, metals, energies, and other commodities. Established in 2016, Purple Trading continues to introduce innovative solutions in the world of online trading and consistently enhances its trading services. Utilizing a Direct Interbank Market Access (DMA) model, they provide interbank variable spreads with competitive execution rates for all traders, accommodating various trading styles such as scalping, hedging, and high-frequency trading.

Market OfferingsPurple Trading boasts a comprehensive selection of trading instruments, including Forex, Indices, Stocks, CFDs, and Shares.

Forex TradingYou can engage in trading a vast array of currency pairs, featuring popular choices like EURUSD as well as unique combinations such as GBPZAR. Enjoy trading Forex with tight spreads and swift execution.

IndicesSpeculate on the growth of major stock indices from the world’s leading economies, including the NASDAQ, DAX, and SP500, and capitalize on their achievements.

CommoditiesTrade oil, gold, silver, and other precious metals with Purple Trading, benefiting from interbank market prices, low spreads, and rapid execution.

CFDsAccess over 100 stocks from renowned global companies on your MT4 platform, complete with low spreads and fast execution. Additionally, you can trade futures contracts for commodities like wheat, coffee, and soybeans. Purple Trading enhances trading opportunities through direct pricing from the interbank market and fast execution.

StocksInvest in 12 of the top firms in the Italian economy, instantly accessible on your MT4, while enjoying minimized costs that are deemed unnecessary.

Trading PlatformsThe broker offers clients various trading solutions:

cTrader PlatformThe Spotware team approached the creation of the cTrader platform with a fresh perspective. Designed “by traders for traders,” this platform is built upon their “Traders First” philosophy, ensuring easy navigation, quick market access, and a wide range of tools and charts. Compatible with both PCs and mobile devices, it works seamlessly across all major browsers.

Purple Trading cTrader PlatformMaximize your experience on PC with direct STP/ECN market access. Utilize over 60 different indicators and 26 tick charts for Forex trading. You can also employ the built-in cTrader Automate feature to devise your trading strategies. Stay responsive to market changes by accessing the cTrader web interface from any device or browser without needing any installations.

cTrader Mobile PlatformA dream come true for automated trading system creators. Elevate your trading strategy with the built-in code editor and backtesting features. The synergy between cTrader and its Automate Editor ensures that your creations perform at their best.

MetaTrader 4MT4 offers many features that appeal to novice traders, providing tools that simplify the trading process. Trade directly from charts with a single click. You can download free MetaTrader 4 training resources on the Purple Trading website, and if you have programming knowledge, you can utilize Automatic Trading Systems (AOS) fully supported by MetaTrader 4.

Purple Trading MetaTrader 4 (MT4) PlatformA basic understanding of MetaQuotes Language MQL, similar to C++, is all you need to take advantage of this incredible feature. Leverage the world’s leading trading platform while enjoying user-friendly settings.

Purple Trading MT4 AppMetaTrader 4 serves as a well-equipped workstation for traders, offering essential tools for trading in financial markets (Forex & CFD). It allows users to analyze price dynamics, execute trades, and develop automated trading systems.

ToolsIn addition to the features available in various trading platforms, the broker offers additional valuable trading tools like Autochartist, Purple Extreme Indicator, Purple Strike Indicator, and Purple Bands Indicator.

Purple IndicatorsIf you’re looking for an effective forex indicator to identify profitable trading opportunities, the Purple Bands indicator is an excellent choice. It marks price levels at midnight each day for the following 24 hours. Purple Trading has taken care to address the common shortcomings of competing indicators during development, making the Purple Bands Indicator distinct. It does not redraw previously established price levels, allowing traders to spot overbought or oversold conditions, as well as potential future price movements. According to the official site, these forecasts can achieve an accuracy rate of up to 80%.

Purple Trading IndicatorsThe purple level indicator closely monitors analysts at major financial institutions and professional traders to ensure you don’t miss critical support and resistance levels. Designed to automatically generate support and resistance levels based on extensive historical price data, it aims to mitigate errors observed among competitors. This indicator is built to withstand challenging market conditions while providing transparency and accessibility. While the Purple Extreme indicator may not be the most visually striking, its strength is well-suited for extreme market conditions.

Purple ZoneManaging your business or investment profile, making deposits and withdrawals, and tracking your trading activities should be straightforward. That’s why Purple Trading developed the Purple Zone, a client area that is fast, simple, and user-friendly.

AutochartistAutochartist is a powerful technical analysis tool that enhances your MT4 trading experience. Its unique pattern recognition software continuously scans the markets, identifying thousands of trading opportunities each month, saving you time analyzing your favorite instruments. Get alerts when the scanner detects emerging or completed patterns on your selected instruments and pattern types, offering real-time trading opportunities.

EducationThe broker provides educational resources for everyone, whether you’re a beginner or an experienced trader. With eBooks, news updates, trading guides, and a community for interaction, there’s plenty available. Video analyses on the website are especially helpful for beginners, alongside strategies like “how to trade general elections” to assist with event trading. The site frequently updates risk and return analyses for various trading instruments.

Purple Trading Forex eBookThere’s also a “Purple Trading Club” membership academy aimed at fostering peer-to-peer trading strategies, opportunities, and ideas. All clients can join the club, gaining access to exclusive webinars, insights on FTMO trading discipline, networking with like-minded investors, and learning from seasoned traders.

ConclusionPurple Trading is a forward-thinking online trading broker that excels in forex and CFD trading with cutting-edge technology. They provide robust trading platforms and valuable trading tools.

Ratings:

• Markets: 8.1/10
• Platforms: 8.0/10
• Tools: 8.5/10
• Education: 7.5/10

Pros:

• A wide selection of tradable assets
• Robust trading platforms
• Autochartist and other helpful tools
• Educational guides and courses
• Highly competitive trading conditions
• Various account types

Cons:

• Available only for EU clients
• No swap-free accounts
• No MetaTrader 5 platforms

As a self-proclaimed Forex geek, I dedicate my time to researching and testing everything related to forex. With years of experience in the forex industry, I have reviewed thousands of forex robots, brokers, strategies, courses, and more. I gladly share my insights here to help you navigate the fascinating world of forex trading! For more, check out https://findnomore.net.