Purple Trading vs FXChoice

Purple Trading or FXChoice – which is better for UK traders 2024? Compare Purple Trading and FXChoice in this detailed breakdown of their platforms, features and fees.

Purple Trading vs FXChoice Comparison Table 2024
Purple Trading FXChoice
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3.5
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4.1
Purple Trading is ranked #97 among CFD brokers. FXChoice is ranked #97 among CFD brokers.
Purple Trading has closed or no longer accepts UK clients.
Purple Trading is a legitimate forex and CFD broker with ECN and STP execution for a range of markets on two top commercial trading platforms. The broker is heavily regulated with authorization from the CySEC. Purple Trading also offers a good selection of account types to suit different traders, including beginners, pros and passive investors.
FXChoice has closed or no longer accepts UK clients.
FXChoice is a Belize-based broker established in 2010 and registered with the Financial Services Commission (FSC). The brand offers a wide selection of markets including crypto, plus the familiar MT4 and MT5 platforms. FXChoice stands out for its extra tools and perks, from LearnFx EAs to a VPS and Myfxbook's AutoTrade. New users can also claim a welcome bonus upon sign-up.
Pros
  • Trustworthy and regulated by the Cyprus Securities and Exchange Commission (CySEC)
  • Access to MetaTrader 4 plus cTrader - both industry-leading platforms
  • Good range of deposit and withdrawal methods including bank cards
  • Currency indices with broader exposure to the forex market
  • Loyalty programme for active traders with fee discounts
  • Bespoke indicators to support forex trading on MT4
  • Excellent education for beginners including ebooks
  • Free demo account
  • Tight spreads starting from 0.0 pips
  • Bitcoin deposits and withdrawals
  • GPS robot 100k EA download
  • Hedging and scalping allowed
  • MT4 and MT5 downloads
  • Commission-free trading
  • FIFO rule not applicable
  • Cryptocurrency trading
  • Social trading solution
  • Pips+ loyalty scheme
  • VPS available
Cons
  • No MetaTrader 5 compatibility
  • Average customer support channels and wait times
  • Limited selection of commodities
  • Weak regulatory oversight
Awards
  • Exceptional Customer Service 2019 - 2021 - LiveHelpNow
FCA Regulated
No No
Instruments
CFDs, Forex, Stocks, Cryptos, Futures, Commodities CFDs, Forex, Indices, Commodities, Cryptocurrencies, Shares
Bonus
50% Welcome Deposit Bonus
Demo Account
Yes Yes
Minimum Deposit
$0 $100
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
CySEC FSC
Mobile Apps
iOS & Android iOS & Android
Trading App

MT4 and MT5 apps are available to download form the Apple and Google Play stores. Both applications offers one-click trading, advanced charts and graphs, built-in support, plus instant and pending order types. MT4 is best suited to forex beginners while MT5 will meet the needs of experienced FX traders.

iOS App Rating
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Android App Rating
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Margin Trading
Yes Yes
MetaTrader 4
Yes Yes
MetaTrader 5
No Yes
cTrader
Yes No
AlgoTrader
No No
OmniTrader
No No
TradingView
No No
Autochartist
No No
eSignal
No No
Trading Central
No No
STP Account
Yes No
ECN Account
Yes Yes
DMA Account
Yes No
MAM Account
Yes Yes
PAMM Account
Yes No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes Yes
Market Maker
No Yes
P2P Trading
No No
Spot Trading
No Yes
Auto Trading
Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes Yes
Copy Trading Platform
Purple Trading enlists strategy providers to share their trading strategies with aspiring investors. The broker also CapitalGuard technology to cap excessive losses. FXChoice has partnered with Myfxbook AutoTrade to offer copy trading to all account holders. You can find and follow the strategies of multiple traders with straightforward account management. MQL5 signals can also be used to inform buy or sell decisions.
Social Trading
Yes Yes
Trade Signals
Yes - MQL5
VPS Hosting
No Yes
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
Yes
Islamic Account
No Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • PLN
  • CZK
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
Commodities
  • Silver
  • Oil
  • Orange Juice
  • Palladium
  • Gold
  • Platinum
  • Gold
  • Silver
  • Oil
CFD
Purple Trading supports CFD trading through MetaTrader 4 and cTrader on stocks, commodities, futures, forex and indices. You can go long or short with up to 1:30 leverage, free deposits and competitive pricing. FXChoice offers highly leveraged CFD products on a breadth of financial markets, including shares, indices, commodities and crypto. FXChoice provides more supporting tools than many alternatives, including signals, auto trading, a VPS, and a research center.
Leverage
1:30 (Retail), 1:500 (Pro) 1:200
FTSE Spread
1 (ECN) From $18.53
GBPUSD Spread<
0.00004 (ECN) From $8
Oil Spread
0.03 (ECN) From $40
Stocks Spread
Variable Variable
Forex
Purple Trading clients are in a great position to speculate on foreign exchange markets with over 60 major, minor and exotic currency pairs. Forex indices are also available offering a holistic view of popular currencies like the USD. Trade 36 forex pairs, including the EUR/USD with spreads from zero pips. FXChoice offers higher leverage on forex than most competitors, alongside 24/5 support and an accessible $10 starting deposit.
Assets
59 36
GBPUSD Spread
0.00004 (ECN) From $8
EURUSD Spread
0.00004 (ECN) From $5
EURGBP Spread
0.00005 (ECN) From $6.95
Currency Indices
  • USD
  • EUR
  • GBP
  • JPY
  • CAD
  • AUD
  • NZD
  • CHF
Cryptocurrency
FXChoice offers trading on leading crypto cross pairs with the US Dollar. The selection of digital assets is narrow but spreads are tight starting at 0.15.
Spread
0.11 - 3.0 pips
Coins
  • BTC
  • ETH
  • LTC
  • BCH
  • BTC
  • LTC
  • ETH
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No Yes
Purple Trading FXChoice
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