Purple Trading vs Blueberry Funded: Discover the features, strengths, and weaknesses of Purple Trading and Blueberry Funded to make an informed trading decision.
Are you searching for a reliable Forex and CFD broker but can’t decide between Purple Trading and Blueberry Funded? Both platforms offer unique benefits, each tailored to specific types of traders. In this comparison, we’ll break down their core features, strengths, and potential drawbacks to help you decide which one aligns better with your trading goals.
Regulation and Security
Purple Trading: Founded in 2016, Purple Trading is well-regarded in Europe, with regulation by the Cyprus Securities and Exchange Commission (CySEC). This regulatory oversight demands that Purple Trading upholds stringent security standards, which many traders find reassuring. The broker employs strict anti-money laundering protocols and stores client funds in segregated accounts to enhance security. For traders who prioritize security, Purple Trading’s regulatory compliance adds a layer of trustworthiness to its offerings.
Blueberry Funded: Unlike Purple Trading, Blueberry Funded operates primarily as a prop trading firm, where traders must pass a two-stage evaluation process before receiving access to a funded account. While it does not fall under CySEC or similar regulatory bodies, Blueberry Funded maintains disciplined rules and guidelines, emphasizing risk management to protect both the firm’s capital and the traders. Although Blueberry Funded lacks formal regulatory backing, its focus on responsible trading and risk management is a plus for traders with a disciplined approach.
Winner: Purple Trading. The broker’s regulation through CySEC provides an added layer of security for traders looking for assurance through external oversight. However, for those willing to operate outside strict regulatory environments, Blueberry Funded’s internal risk management protocols are substantial.
Account Types and Trading Conditions
Purple Trading: Purple Trading offers several account types catering to different levels of trading experience:
- STP Account – Tailored for retail traders, it offers low spreads with no commission, appealing to traders looking for cost-effective trading on a smaller scale.
- ECN Account – Suited for more seasoned traders, this account provides tighter spreads (as low as 0.1 pips) with a commission fee, facilitating quicker execution and direct market access.
- PRO Account – Geared towards high-volume traders, this account allows for a customizable cost structure, with spread and fee options adjusted based on trading volume.
Purple Trading’s accounts also offer varied leverage structures. Retail traders can access leverage up to 1:30, while professional traders can reach up to 1:500.
Blueberry Funded: Blueberry Funded, on the other hand, follows a different model as a prop trading firm. Traders must pass two evaluation stages to secure a funded account, with the potential to choose between account sizes from $25,000 to $200,000. Blueberry Funded offers up to 1:100 leverage on these accounts, allowing for greater position flexibility.
The first evaluation phase requires achieving an 8% profit target, while the second phase reduces the profit target to 5%. These evaluations allow the firm to assess a trader’s risk management skills before granting access to larger accounts.
Winner: Draw. Purple Trading provides diverse accounts catering to a wide range of experience levels and needs, while Blueberry Funded’s structure focuses on disciplined trading with access to significant funding upon successful completion of evaluations. Your choice depends on whether you value diverse account options or the potential for funded trading with leverage.
Trading Costs and Fee Structure
Purple Trading: The cost structure at Purple Trading varies by account type:
- STP Account: No commissions, but with slightly wider spreads starting from 0.7 pips.
- ECN Account: Includes a commission of $3.5 per standard lot but benefits from much narrower spreads.
- PRO Account: Customized fees based on trading volume, offering flexibility for high-volume traders.
Purple Trading’s fee structure allows traders to select the most cost-effective account for their trading style, making it possible to choose an option with minimal fees for low-frequency trades or tighter spreads for more aggressive trading.
Blueberry Funded: Blueberry Funded requires an upfront fee to enter its evaluation stages, which may appeal more to experienced traders with confidence in their strategy. If a trader fails the evaluation, they can pay a reset fee to retake the test. Once they pass, there are no monthly or hidden fees, making it straightforward for traders who achieve consistent profitability to maximize their returns.
Winner: Purple Trading. With no entry fee and flexible fee options based on account types, Purple Trading offers a more transparent and potentially lower-cost option for most traders. Blueberry Funded’s evaluation fee is justified for those seeking funding but may be less appealing to those looking to avoid upfront costs.
Range of Tradable Assets
Purple Trading: Purple Trading focuses on Forex and CFDs, with access to a range of currency pairs, Italian stocks, and ETFs. However, it offers limited options outside of these core areas, which may restrict traders looking to diversify into broader markets or emerging asset classes like cryptocurrencies.
Blueberry Funded: Blueberry Funded offers access to a variety of assets, including Forex pairs, commodities, and indices. While it does not cover cryptocurrencies, its range is still broad enough for most forex and CFD traders, especially those interested in traditional asset classes.
Winner: Draw. Both brokers offer a decent range of assets, though neither has an exceptionally broad selection. Purple Trading has a slight edge with ETFs, while Blueberry Funded appeals to traders seeking funded access to traditional assets.
Trading Platforms and Tools
Purple Trading: Purple Trading provides an in-depth suite of educational resources, including webinars, online courses, and market analysis tools, which can be valuable for newer traders. Additionally, Purple Trading supports automated trading and copy trading, enabling beginners to follow the strategies of more experienced traders.
Blueberry Funded: Blueberry Funded allows traders to use popular trading platforms like MetaTrader 4 and MetaTrader 5, which are widely respected for their flexibility, custom indicators, and compatibility with automated trading. This familiar platform choice may appeal to traders who already use MT4 or MT5, allowing them to access advanced tools like Expert Advisors without needing to learn a new interface.
Winner: Purple Trading. Its educational resources and copy trading feature make it a stronger choice for newer traders who benefit from structured learning, while Blueberry Funded’s platform selection may appeal to experienced traders who prioritize tool variety.
Risk Management and Profit Structure
Purple Trading: With regulated account structures and a focus on transparency, Purple Trading offers different leverage settings that help traders manage risk according to experience level. The broker does not offer direct funded accounts, so traders bear the responsibility for their own trading risks and profits.
Blueberry Funded: Blueberry Funded implements strict risk management parameters, with a 5% daily drawdown limit and a 10% total drawdown cap. The profit-sharing model, offering up to 80% of profits, can be highly rewarding for successful traders. This makes Blueberry Funded appealing for disciplined traders with a risk-focused approach who are comfortable with strict trading limits.
Winner: Blueberry Funded. For traders who can adapt to the firm’s rules, Blueberry Funded’s profit-sharing model and structured risk management offer an opportunity to trade with minimal personal capital at stake, which can be an attractive option for disciplined traders.
Overall Verdict
Ultimately, both Purple Trading and Blueberry Funded have their own strengths. Purple Trading is a better choice for traders looking for a traditional broker experience with transparent fees, diverse account types, and a secure, regulated environment. It’s particularly appealing for European traders who want a straightforward trading experience with no evaluation process or entry fee.
Blueberry Funded, by contrast, is designed for experienced traders who are confident in their strategy and seek funded trading opportunities. Its profit-sharing model, coupled with strict risk management rules, provides a pathway for traders to access capital without risking personal funds, though it may feel restrictive for those less familiar with firm trading parameters.
Whether you prioritize flexibility, a regulated environment, or access to funded trading, both brokers cater to specific needs, offering distinctive advantages that align with various trading styles. Your ideal choice will depend on your risk tolerance, experience level, and preference for either a structured prop trading environment or a more conventional broker setup.
