Position in Rating | Overall Rating | Trading Terminals |
163rd  | 2.9 Overall Rating |  |
Pure Market Broker Review
In Forex trading, choosing the right Forex broker is pivotal. These brokers are not just platforms but gateways to the global currency markets, where trillions are traded daily. Pure Market Broker stands out in this crowded marketplace.
Our review aims to dissect Pure Market Broker meticulously. We’ll explore account types, deposit and withdrawal processes, commission structures, and more. By weaving together expert analysis and real trader feedback, our goal is to present a balanced view. This will empower you to decide if Pure Market Broker aligns with your trading aspirations, ensuring you’re well-equipped to make an informed decision about your Forex trading journey.
What is Pure Market Broker?
Pure Market Broker, established in August 2016, is a regulated Forex and CFD broker. It operates under the oversight of four financial commissions, with its Global international office being regulated by the Vanuatu Financial Services Commission. This regulatory framework ensures that the broker adheres to strict guidelines, providing a secure trading environment for its clients.
Offering a wide range of trading opportunities, Pure Market Broker gives traders access to the Forex market, as well as CFDs on indices, energies, metals, and cryptocurrencies. This variety allows traders to diversify their portfolios and explore different markets using a single platform. Furthermore, the broker supports its clients with leveraged trading, MetaTrader platforms, and current market data, tools essential for making informed trading decisions.
Benefits of Trading with Pure Market Broker
Trading with Pure Market Broker has afforded me several significant benefits, underscoring its value as a trading platform. One of the standout advantages is the diversity of financial instruments available. This range has allowed me to diversify my portfolio across Forex, CFDs on indices, energies, metals, and cryptocurrencies, enhancing my trading strategies and risk management.
Another key benefit is the access to both the MetaTrader 4 and MetaTrader 5 platforms. These platforms are renowned for their robustness and offer a plethora of analytical tools, indicators, and expert advisors, making it easier for me to analyze the market and execute trades efficiently.
Additionally, the competitive spreads and leverage options provided by Pure Market Broker have significantly impacted my trading outcomes positively. The ability to trade with high leverage, in particular, has afforded me the flexibility to scale my positions according to market conditions, optimizing my trading potential.
Lastly, the up-to-date market data that Pure Market Broker offers has been instrumental in making informed decisions. Having access to the latest market insights and trends directly through the trading platform has enhanced my ability to react quickly to market movements, contributing to a more dynamic and informed trading approach.
Pure Market Broker Regulation and Safety
Trading with Pure Market Broker has shown me firsthand the importance of regulation and safety in the Forex market. Owned by Pure M Global LTD and regulated by the Vanuatu Financial Services Commission (registration number 14801), the broker provides a secure framework for global traders. This level of oversight is crucial for ensuring fair trading practices and protecting investor interests.
Pure Market Broker also caters to European clients through its Cyprus-based representative office, Pure/Trade, adhering to stringent regulations set by CySEC, BaFin, and FIU. The broker’s commitment to safety is further underscored by keeping clients’ funds in segregated accounts with reputable European banks or FCA-regulated liquidity providers. This segregation is vital for safeguarding traders’ capital, separating it from the company’s operating funds.
Additionally, Falcon Insurance provides an extra layer of security, insuring clients’ investments up to $500,000, with a $50,000 cover on demand. In today’s unpredictable market, such insurance is a significant benefit, offering peace of mind to traders. The broker’s privacy policy, which strictly prohibits sharing personal client information with third parties, further enhances trust and security.
For EU clients, the leverage is capped at 1:30, aligning with regulatory efforts to protect retail traders from the high risks associated with excessive leverage. While negative balance protection is not offered, the initial account setup process, requiring identification and a bank statement, underscores the broker’s diligence in complying with anti-money laundering regulations.
Pure Market Broker Pros and Cons
Pros
- Round-the-clock live chat during weekdays
- Option to copy trades
- Leverage as high as 1:200
- Passive investing through PAMM accounts
- Spreads start from 0 pips
- Choice between several trading platforms, including WebTrader and MT4/MT5
- Regulated globally
Cons
- Fees charged on withdrawals
- Trading fees applicable to all account types
- Minimum deposit requirement of $100/€100
- Lack of cent and Islamic account options
Pure Market Broker Customer Reviews
Customers generally regard Pure Market Broker as a trusted platform, highlighting the ease of opening an account and the convenience of fast deposits, including local bank transfers. The broker is praised for its 30% credit on new deposits and the Pure Master Card feature within the Pure wallet application, enhancing user convenience. The execution of orders is noted to be quick, with many users expressing satisfaction with the speed of deposits and withdrawals. Customer service is described as dedicated, contributing to a positive trading experience. However, there is mention of dissatisfaction from an investor who has not seen any profit after a year, indicating that experiences can vary among users.
Pure Market Broker Spreads, Fees, and Commissions
At Pure Market Broker, the trading costs I encountered were a mix of spreads and fees per lot, tailored to suit different trading strategies. For MT4 accounts, spreads begin at 0.2 pips, coupled with a $30 fee for every million traded in Forex. Meanwhile, MT5 accounts offer even tighter spreads, starting from 0 pips, with a $6.5 (or €6) charge per standard lot, showcasing the broker’s competitive pricing structure.
When it came to deposit fees, I found them quite favorable. No charges are applied to transactions through SEPA, Pix Payment, GTBank, Boleto, or cryptocurrencies, making deposits accessible and cost-effective. However, there’s a slight 0.5% fee for FasaPay users, a $20 fee for Etana Custody, and for Swift transfers, a €20 plus 1.5% charge.
Withdrawals also incur fees, which vary based on the chosen method, whether it’s EUR, USD, a percentage, or cryptocurrencies. Another aspect to consider is the swap charges for positions held overnight, which can impact the cost of trading over longer periods.
Account Types
Pure Market Broker offers two primary types of accounts, each designed to cater to the varying needs and preferences of traders. Here’s a streamlined overview:
MT4 Account
- Minimum Deposit: €100 or $100, making it accessible for beginners or those looking to test the platform.
- Trading Instruments: Includes 58 currency pairs, 2 metals, 3 energies, and 13 indices, offering a solid range for traders.
- Execution Speed: For 90% of orders, it’s less than 200 milliseconds, ensuring quick trades.
MT5 Account
- Minimum Deposit: €1,000 or $1,000, aimed at more experienced traders or those looking to trade with higher volumes.
- Expanded Trading Instruments: This account enriches your trading options with 4 cryptocurrencies and increases the number of metals to 6, on top of the MT4 offerings.
- Improved Execution Speed: 90% of orders execute in less than 100 milliseconds, providing an even faster trading experience.
In my experience, Pure Market Broker aligns its account types with the needs of diverse trading strategies, from those just starting out to seasoned investors seeking a broader asset portfolio and faster execution times.
How to Open Your Account
- Navigate to the website and click on “Sign Up” at the top of any page or “Start Trading Now” in the center of the main page.
- Fill out the account creation form with your first and last names, phone number, and email.
- Check your email for a new user ID, which will be 6 digits long, along with a password for account access.
- Use the provided credentials to log into your account, knowing the password can be changed after verification.
- Follow the prompts to verify your identity, which includes uploading ID documents and a bank statement.
- Choose the type of trading account that suits your needs and make the minimum required deposit.
- Customize your trading settings according to your preferences, including leverage and trade size.
- Begin trading by selecting from the available financial instruments and executing your trades.
Pure Market Broker Trading Platforms
Based on my experience, Pure Market Broker offers access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5) as its trading platforms. MT4 is widely recognized for its user-friendly interface and robust analytical tools, making it ideal for traders of all levels. It supports numerous trading strategies with its customizable charts and a vast array of technical indicators.
MT5, on the other hand, takes everything a step further. It introduces more advanced financial trading functions, including more technical indicators, graphical objects, and timeframes. This platform is particularly suited for traders looking for depth of market view and those interested in trading stocks and futures, in addition to Forex.
In using both platforms, I found them to be powerful tools for executing trades and analyzing the market. Whether you’re a beginner or an advanced trader, these platforms can cater to your needs, offering a flexible trading environment with a wide range of functionalities.
What Can You Trade on Pure Market Broker
From my experience, Pure Market Broker provides a diverse range of trading instruments that cater to various interests and strategies. The platform offers an extensive selection of FX pairs, allowing traders to engage in the global currency markets with major, minor, and exotic pairs. This variety enables traders to take advantage of fluctuations in global economies and differing interest rates.
In addition to currencies, Spot Metals trading is available, offering opportunities to invest in precious metals like gold and silver. This is particularly appealing for those looking to hedge against inflation or diversify their portfolios beyond traditional FX trading.
CFDs, Indices, and Commodities such as Oil are also part of the mix, providing even more avenues for investment. These instruments allow traders to speculate on the price movements of different assets, including global stock indices and commodities, without the need to own the underlying asset. This flexibility and variety ensure that traders can find opportunities in almost any market condition.
Pure Market Broker Customer Support
In my experience, Pure Market Broker’s customer support was highly accessible and provided several convenient ways to get in touch. The live chat feature on their website offered instant communication, ideal for quick queries or immediate assistance. This real-time support ensures that help is just a few clicks away.
For those who prefer more traditional methods, telephone support and a feedback form are also available, catering to different preferences for communication. The option to call allowed me to have more in-depth discussions about my account or trading strategies, which I found particularly useful.
Email support is comprehensive, with separate addresses for various departments including Information, Partner Relations, Back Office, and the Trading Desk. This segmentation made it easier to direct my inquiries to the right place, ensuring faster and more relevant responses. Additionally, the ability to request information about the regulation of the Vanuatu market and Pure Market Broker’s compliance via email added an extra layer of transparency, reinforcing my confidence in their operations.
Advantages and Disadvantages of Pure Market Broker Customer Support
Advantages
DisadvantageWithdrawal Options and Fees
Pure Market Broker offers various withdrawal options including international bank transfers, cryptocurrency transactions, and electronic payment systems. This flexibility ensures that I can choose the method most convenient for me. Importantly, profits must be withdrawn using the same method I used for depositing, which helps streamline the process and maintain security.
The withdrawal fees vary depending on the method. For SEPA, the charge is €5, while Swift transactions cost €30 plus a 2% fee. Electronic payment systems like FasaPay have a 0.5% fee, and local options like PIX Payment and Boleto carry a 4% fee, with GTBank at 1%, and Etana Custody at $25. Cryptocurrency withdrawals come with specific fees: 0.005 BTC, 5 USDT, 0.02 ETH, and 5 XRP, making it crucial to consider these costs when planning to withdraw funds.
Pure Market Broker Vs Other Brokers
#1. Pure Market Broker vs AvaTrade
Pure Market Broker and AvaTrade are both reputable in the online trading world, but they cater to different trader needs. AvaTrade stands out for its global presence and wide range of financial instruments, offering over 1,250 options compared to Pure Market’s focus on FX, CFDs, and cryptocurrencies. AvaTrade’s heavy regulation across several jurisdictions provides a high level of security and trust. However, Pure Market Broker might appeal more to those looking for competitive spreads and leverage options, particularly in cryptocurrency trading.
Verdict: For traders prioritizing diversity of instruments and regulatory security, AvaTrade is the better option. But for those focused on Forex and cryptocurrencies with competitive conditions, Pure Market Broker holds an edge.
#2. Pure Market Broker vs RoboForex
RoboForex and Pure Market Broker both offer cutting-edge trading technologies. RoboForex has a broader range of trading options, with over 12,000 compared to Pure Market’s offerings, and a variety of trading platforms like MetaTrader, cTrader, and RTrader. This makes RoboForex more versatile for traders looking for diversity and customization in their trading experience. Pure Market Broker, however, focuses on providing specific trading conditions for Forex and CFDs traders, with competitive spreads and leverage.
Verdict: RoboForex is superior for traders seeking extensive trading instruments and platform options. However, Pure Market Broker is more tailored for those looking for focused Forex and CFD trading conditions.
#3. Pure Market Broker vs Exness
Comparing Exness to Pure Market Broker, Exness offers a vast array of currency pairs and CFDs, including over 120 currency pairs and a remarkable monthly trading volume. Exness is known for its low commissions, immediate order execution, and the unique offer of unlimited leverage on small deposits, making it highly attractive for traders aiming for high leverage strategies. Pure Market Broker, while offering competitive spreads and access to multiple markets, doesn’t match the leverage flexibility that Exness provides.
Verdict: Exness stands out as the better choice for traders looking for low commissions, high leverage, and a wide selection of trading pairs. Pure Market Broker offers a solid platform for trading but doesn’t provide the same level of leverage or as extensive a range of instruments as Exness.
Also Read: AvaTrade Review 2024- Expert Trader Insights
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Conclusion: Pure Market Broker Review
In conclusion, Pure Market Broker stands out as a competitive option for traders focusing on Forex, CFDs, and cryptocurrencies. With its competitive spreads and access to MetaTrader platforms, it caters well to those looking for a streamlined and efficient trading experience. The variety of account types and flexible leverage options further enhance its appeal, offering something for traders at different levels of experience and capital.
However, potential users should be mindful of the withdrawal fees and the limited availability of customer support on weekends. While these cons are not deal-breakers, they are considerations to keep in mind when comparing Pure Market Broker with other options in the market.
Also Read: Skilling Review 2024 – Expert Trader Insights
Pure Market Broker Review: FAQs
What trading platforms does Pure Market Broker offer?
Pure Market Broker offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, catering to a wide range of trading preferences and strategies.
What types of accounts can I open with Pure Market Broker?
You can open MT4 and MT5 accounts with Pure Market Broker, each providing different spreads, leverage options, and access to a variety of trading instruments.
Are there any withdrawal fees at Pure Market Broker?
Yes, Pure Market Broker charges withdrawal fees, which vary based on the method used, including fees for bank transfers, electronic payments, and cryptocurrencies.
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