Purple Trading Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of Purple Trading trading signals. You will learn what kinds of trading signals Purple Trading offers and what the conditions for using them are.
Short introduction of Purple Trading
Purple Trading is a Forex broker with a CySEC Cypriot regulator license that uses Straight Through Processing (STP) technology. It was registered in 2016 in Cyprus but currently has representative offices in the Czech Republic and Slovakia. Purple Trading allows clients to trade different types of CFDs and currency pairs, buy and sell real shares of Italian companies, as well as invest in ETFs.
| 💰 Account currency: | USD, EUR, GBP, CZK, PLN |
| 🚀 Minimum deposit: | $100 |
| ⚖️ Leverage: | Retail traders get up to 1:30; experienced retail traders get up to 1:100; and professional traders get up to 1:500 |
| 💱 Spread: | From 0.5 pips (ECN), from 1.1 pips (STP) |
| 🔧 Instruments: | Currency pairs, CFDs on stocks, indices, commodities, futures, cryptocurrencies, real Italian stocks, and ETFs |
| 💹 Margin Call / Stop Out: | 100%/50% |
Purple Trading Pros and Cons
👍 Advantages of trading with Purple Trading:
•Support for trading different asset classes.
•Available minimum deposit size.
•CySEC license and regulation by authoritative EU commissions.
•Ability to earn passive income through PAMM accounts and invest in ETFs.
•Availability of MetaTrader 4 and cTrader trading platforms.
•Tight spreads on both ECN and STP accounts.
•No deposit, withdrawal, or account maintenance fees.
👎 Disadvantages of Purple Trading:
•High leverage is available only to professional and experienced retail clients.
•The broker does not cooperate with traders living outside the European Union, as well as inside the United States, Belgium, France, Russia, Switzerland, and Gibraltar.
•There are no contests or bonuses for trading or investing in the company.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
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Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
Purple Trading Trading Signals
Purple Trading has floating spreads on all account types. Also, ECN accounts have a commission per lot, which varies depending on the amount of the deposit. When trading currency pairs, it may be $5, $8, or $10 per lot. Stock CFD brokerage commissions are $0.02 for each American share and 0.1% of the face value of the transaction for other shares. Commissions on CFDs on futures is $10 per lot traded, and 0.25% of the transaction amount for real shares. Purple Trading does not charge deposit or withdrawal fees and offers several options for free deposits and withdrawals (mostly through banks). It is worth bearing in mind that the electronic systems Skrill and Neteller hold fees for both deposits and withdrawals. The fee for no activity on the account after 6 months is 15 EUR/USD and is charged once a quarter.
| Account type | Spread (minimum value) | Withdrawal commission |
| STP Starter | From $16 | Fees from banks and payment systems are assigned per transaction |
| STP Standard | From $16 | Same as above |
| STP Prime | From $14 | Same |
| STP VIP | From $11 | Same |
| ECN Starter | From $5 | Same |
| ECN Standard | Same as above | Same |
| ECN Prime | Same | Same |
| ECN VIP | Same | Same |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Purple Trading does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
For what assets can trading signals be provided?
Brokers may provide trading signals for any asset, for example Forex, stocks, cryptocurrencies, etc.
Can I subscribe to several signal providers?
As a rule, brokers allow traders to do that. It is important to subscribe to several providers or newsletters, as it helps diversify the risks.
Are there fees charged for trading signals?
Yes. As a rule, the fee is charged as a markup to the spread, or it could be a subscription fee, or a percentage of the profit, etc.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.