Purple Trading vs IG Index
Purple Trading or IG Index – which is better for UK traders 2024? Compare Purple Trading and IG Index in this detailed breakdown of their platforms, features and fees.
| Purple Trading | IG Index |
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| Purple Trading is ranked #91 among CFD brokers. | IG Index is ranked #36 among CFD brokers. |
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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. |
Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders. |
| Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. | |
| Pros | |
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| Cons | |
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| Awards | |
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| FCA Regulated | |
| No | Yes |
| Instruments | |
| CFDs, Forex, Stocks, Cryptos, Futures, Commodities | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting |
| Demo Account | |
| Yes | Yes |
| Minimum Deposit | |
| $0 | $0 |
| Payment Methods | |
| Minimum Trade | |
| 0.01 Lots | 0.01 Lots |
| Regulator | |
| CySEC, CONSOB | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM |
| Mobile Apps | |
| iOS & Android | iOS & Android |
| Trading App | |
IG offers a superb all-round trading app. One of the pioneers of mobile trading, the application has been developed and refined over many years, meaning it is now among the best trading apps. Quick response, user-friendly layout, access to full charting and a stable and reliable application. It also offers guaranteed stops – an important risk management tool not available on many apps we’ve tested. |
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| iOS App Rating | |
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| Android App Rating | |
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| Margin Trading | |
| Yes | Yes |
| Margin Rate | |
| 2.5% | |
| MetaTrader 4 | |
| Yes | Yes |
| MetaTrader 5 | |
| No | No |
| cTrader | |
| Yes | No |
| AlgoTrader | |
| No | No |
| OmniTrader | |
| No | No |
| TradingView | |
| No | Yes |
| Autochartist | |
| No | Yes |
| eSignal | |
| No | No |
| Trading Central | |
| No | Yes |
| STP Account | |
| Yes | No |
| ECN Account | |
| Yes | No |
| DMA Account | |
| Yes | Yes |
| MAM Account | |
| Yes | No |
| PAMM Account | |
| Yes | No |
| LAMM Account | |
| No | No |
| Demat Account | |
| No | No |
| AI / Machine Learning | |
| No | No |
| Robo Advisor | |
| No | Yes |
| 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, build your own on ProRealTime |
| Copy Trading | |
| Yes | No |
| 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. | |
| Social Trading | |
| Yes | No |
| Trade Signals | |
| Yes | |
| VPS Hosting | |
| No | Yes |
| Tournaments | |
| No | No |
| Demo Competitions | |
| No | No |
| Ethical Investing | |
| No | Yes |
| Custodial Account | |
| No | No |
| Guaranteed Stop Loss | |
| No | Yes |
| Inactivity Fee | |
| Yes | $12 |
| Islamic Account | |
| No | No |
| Account Currencies | |
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| Commodities | |
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| 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. | IG offers a huge selection of 17,000+ CFDs, providing more trading opportunities than most CFD brokers. Traders can go long or short on popular markets like stocks, currencies, commodities and cryptos, while custom price alerts and the IG Academy continue to enhance the trading experience. |
| Leverage | |
| 1:30 (Retail), 1:500 (Pro) | 1:30 (Retail), 1:222 (Pro) |
| FTSE Spread | |
| 1 (ECN) | 1.0 |
| GBPUSD Spread< | |
| 0.00004 (ECN) | 0.9 |
| Oil Spread | |
| 0.03 (ECN) | 2.8 |
| Stocks Spread | |
| Variable | 0.02 |
| 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. | IG offers an above-average suite of 80+ currency pairs on its proprietary web platform, mobile app or MetaTrader 4, with more advanced charts and forex analysis tools available on the ProRealTime software. Forex spreads are competitive based on tests, starting from 0.1 pips on majors like the EUR/USD. |
| Assets | |
| 59 | 80+ |
| GBPUSD Spread | |
| 0.00004 (ECN) | 0.9 |
| EURUSD Spread | |
| 0.00004 (ECN) | 0.8 |
| EURGBP Spread | |
| 0.00005 (ECN) | 0.9 |
| Currency Indices | |
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| Cryptocurrency | |
| IG's modest selection of 11 crypto CFDs trails top crypto brokers like Vantage which offers 40+ tokens. That said, it stands out with its crypto index, which tracks the value of the top 10 digital currencies by market cap and provides a holistic way to speculate on the value of the crypto market. | |
| Spread | |
| Variable | |
| Coins | |
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| Crypto Lending | |
| No | No |
| Crypto Mining | |
| No | No |
| Crypto Staking | |
| No | No |
| Auto Market Maker | |
| No | No |
| Purple Trading | IG Index |
| Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. | |
| More Comparisons | |
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Purple Trading vs |
IG Index vs |