Purple Trading Minimum Deposit
What Is Minimum Deposit of Purple Trading?
The minimum deposit required to activate a live account with Purple Trading is $500. This amount is relatively moderate compared to other brokers in the industry, where minimum deposits can range from as low as $100 to several thousand dollars. While this figure may be considered high for new or casual traders, it allows Purple Trading to offer a range of services and features that cater to more serious trading activities.
Does Purple Trading Provide Deposit Bonus?
Currently, Purple Trading does not offer any deposit bonuses or promotional match rewards for new users. This means that traders will not benefit from additional funds or incentives based on their initial deposit. As always, it is essential for traders to carefully read the terms and conditions of any promotions offered by brokers, as they may include requirements like minimum trading volume or withdrawal restrictions.
Purple Trading Payment Options
Purple Trading Deposit and Withdrawal
| Deposit and Withdrawal Method | Currency | Deposit and Withdrawal Fees | Processing Time |
|---|---|---|---|
| Bank Transfer | USD, EUR | Free | 1–3 business days |
| Credit Card | USD, EUR | 1% fee | Instant |
| E-wallet (Skrill, Neteller) | USD, EUR | Free | Instant |
Does Purple Trading Charge Deposit Fees?
Purple Trading does charge deposit fees for certain methods. Specifically, credit card deposits incur a fee of 1% per transaction, while bank transfers and e-wallets are free of charge. Overall, the fee policy is clear, but the credit card fees may be a drawback for some users.
Does Purple Trading Support Cryptos to Deposit?
Purple Trading does not support cryptocurrency deposits; only fiat currency deposits are accepted. This means that users cannot deposit cryptocurrencies like Bitcoin or Ethereum. Currently, traditional payment methods are the only option for funding accounts.
Is It Easy to Deposit Money to Your Purple Trading Account?
Purple Trading offers a variety of trading accounts, including a Standard Account, ECN Account, and Micro Account, catering to different trading styles and capital levels. Users typically choose their account type based on their trading goals, whether they are beginners with a smaller budget or experienced traders looking for advanced features and lower spreads.
The deposit steps are simple and intuitive for most users. Mainstream payment methods generally require no additional documentation, making it easy for traders to fund their accounts.
Which Purple Trading Trading Account Is Right for You?
| Account Type | Minimum Deposit Requirement | Suitable User Type |
|---|---|---|
| Standard Account | $500 | Beginner traders |
| ECN Account | $1,000 | Active traders |
| Micro Account | $100 | New traders or those with limited capital |
| VIP Account | $5,000 | Professional investors |
Funding Your Account Step by Step
- Log in to your Purple Trading account.
- Select the “Deposit” option from the main menu.
- Choose your preferred payment method (e.g., bank transfer, credit card, e-wallet).
- Enter the amount you wish to deposit and follow the prompts to complete the transaction.
- Review the transaction details and confirm the deposit.
- Wait for the deposit to be processed, which typically takes a few minutes to a few hours depending on the payment method used.
How to Withdraw from Purple Trading
- Log into Your Account: Access your Purple Trading account by entering your credentials on the official website.
- Navigate to the Withdrawal Section: Once logged in, locate the ‘Funds’ or ‘Withdrawal’ tab in your account dashboard.
- Select Your Withdrawal Method: Choose your preferred withdrawal method from the available options. Ensure that it matches your deposit method if required.
- Enter Withdrawal Amount: Specify the amount you wish to withdraw. Be mindful of any minimum withdrawal limits or fees that may apply.
- Submit Your Request: Review your withdrawal details and submit the request. You may need to confirm the operation through an email or SMS verification.
FAQs
Q1: What is the minimum deposit for Purple Trading?
A1: The minimum deposit required to open an account with Purple Trading is $500. This amount is necessary to start trading on their platforms.
Q2: What payment methods can I use to deposit or withdraw funds with Purple Trading?
A2: Purple Trading offers several payment methods for both deposits and withdrawals, including bank transfers and various e-wallet options, though credit card options may have restrictions for some users.
Q3: How fast are transactions processed with Purple Trading?
A3: Transaction speeds with Purple Trading can vary, but average execution speeds are reported to be around 134.71 milliseconds, ensuring efficient trade processing.
Q4: Is my money safe with Purple Trading?
A4: Purple Trading is regulated by the Seychelles Financial Services Authority (FSA), which provides a level of oversight, but as an offshore broker, traders should be aware of the inherent risks involved with such regulation.