Purple Trading vs Phillip Nova 2026: Which Broker is Better?
Choosing between Purple Trading and Phillip Nova depends on your trading style, preferred markets, and budget. Purple Trading is headquartered in Limassol, Cyprus, while Phillip Nova operates from Singapore. Phillip Nova has the longer track record, established in 2005, compared to Purple Trading which was founded in 2016. This in-depth comparison covers regulation, fees, platforms, markets, and overall ratings to help you decide which broker is the better fit in 2026.
Purple Trading
Phillip Nova
| Purple Trading | Phillip Nova | |
|---|---|---|
| BrokerRank Score | 3.5/5 ✓ | 3.4/5 |
| Min. Deposit | $25 | $0 ✓ |
| Spread from | 0.2 pips ✓ | 0.6 pips |
| Max Leverage | 1:500 ✓ | 1:20 |
| Regulation | CySEC, FCA ✓ | MAS |
| Platforms | MT4, MT5, cTrader | Proprietary Web, Proprietary Mobile, POEMS |
Purple Trading is the better choice overall, scoring 3.5/5 vs 3.4/5 on BrokerRank's independent rating. On fees, Purple Trading offers lower spreads (0.2 pips).
See full side-by-side comparison belowPurple Trading vs Phillip Nova: Key Differences
Purple Trading
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Fees Comparison
Purple Trading
Phillip Nova
Regulation & Trust
Purple Trading holds licences from FCA, CySEC. Phillip Nova is regulated by MAS.
Markets & Assets
Both brokers offer access to Forex, Cfd, Indices, Commodities markets. Purple Trading additionally covers Stocks. Phillip Nova adds Crypto.
Fees & Spreads
On spreads, Purple Trading is more competitive with EUR/USD spreads from 0.2 pips, compared to 0.6 pips at Phillip Nova.
Trading Platforms
Purple Trading supports MT4, MT5, cTrader. Phillip Nova offers Proprietary Web, Proprietary Mobile, POEMS.
Minimum Deposit
Purple Trading requires a minimum deposit of $25, while Phillip Nova sets no minimum deposit. This makes Phillip Nova accessible to traders with any budget.
Overall Ratings
BrokerRank scores Purple Trading at 3.46/5 and Phillip Nova at 3.39/5, based on 50+ data points covering regulation, fees, platforms, markets, and user experience. Purple Trading leads overall with a clear advantage.
BrokerRank Verdict
Who Should Choose Which?
Purple Trading
3.5/5
Choose Purple Trading if you want…
- Higher overall rating (3.5/5)
- Tighter spreads (from 0.2 pips)
- Higher leverage (up to 1:500)
- More regulatory licences (2)
Phillip Nova
3.4/5
Choose Phillip Nova if you want…
- No per-trade commission
- No minimum deposit
- More established (est. 2005)
Also consider
We earn a commission when you open an account through these links, at no extra cost to you. Our ratings are scored independently — see the full independent ranking.
Both Purple Trading & Phillip Nova are available in
Frequently Asked Questions
1Is Purple Trading better than Phillip Nova?
Purple Trading scores higher overall on our independent rating system. Purple Trading holds a 3.5/5 rating vs Phillip Nova's 3.4/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
2Which has lower fees, Purple Trading or Phillip Nova?
Purple Trading offers spreads from 0.2 pips, while Phillip Nova starts at 0.6 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for Purple Trading vs Phillip Nova?
Purple Trading requires a minimum deposit of $25. Phillip Nova requires $0.
4Which broker is safer, Purple Trading or Phillip Nova?
Purple Trading is regulated by CySEC, FCA, while Phillip Nova holds licences from MAS.
5What trading platforms do Purple Trading and Phillip Nova support?
Purple Trading supports MT4, MT5, cTrader. Phillip Nova supports Proprietary Web, Proprietary Mobile, POEMS.
6Can I use both Purple Trading and Phillip Nova?
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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Trading involves risk. Past performance is not indicative of future results. Capital at risk. Full risk disclosure.
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