Pure Market Broker ReviewCategory: Reviews | Author: Trading Brokers | Date: January 29, 2024
Pure Market Broker is a forex and CFD broker that offers trading across over 70 currency pairs as well as indices, stocks, and cryptocurrencies. Established in 1999, Pure Market Broker provides traders with access to institutional-grade liquidity and advanced trading platforms like MT4 and MT5. While Pure Market Broker advertises attractive conditions like ultra-tight spreads, fast execution, and high leverage, their regulation status is questionable. In this review, we will thoroughly analyze Pure Market Broker’s regulation, trading platforms, account types, fee structure, customer support, and regulatory standing. Our goal is to highlight the advantages and disadvantages they present to empower readers to make an informed decision about working with this broker. Let’s examine what Pure Market Broker brings to the table.
Pros & Cons
- Acceptable minimum deposit of $100
- Claims to operate as an STP broker with no dealing desk
- Offers popular MT4 and MT5 trading platforms with advanced features
- Provides high leverage up to 1:500 for non-EU clients
- Offers a variety of markets including currencies, metals, energies, indices
- Poor Customer Service
- The broker's regulatory status is unclear, which could pose risks to traders
- The absence of demo accounts may hinder new traders from testing the platform
- Withdrawal Fees
- High-Risk Broker
Pure Market Broker, operating as Liquidity FX Broker LTD, entered the trading industry in 1999. Despite its relatively short tenure, the brokerage has gained recognition for its focus on transparency and offering competitive market spreads. Pure Market Broker relies on the widely used MetaTrader 4 and MetaTrader 5 trading platforms, known for their advanced features and user-friendly interface, making it a practical choice for both new and experienced traders. In terms of market offerings, Pure Market Broker provides access to various markets, including currencies, metals, energies, and indices. This diverse instrument selection allows traders to diversify portfolios and adapt to different market conditions.
Notably, Pure Market Broker follows a Straight Through Processing (STP) operational model, avoiding a dealing desk and directly routing client orders to liquidity providers. This approach aims to facilitate faster execution speeds and reduce the likelihood of re-quotes. With a minimum deposit requirement of $100, Pure Market Broker stands out for its relatively low entry barrier, making it accessible to traders with smaller budgets or those opting for a conservative initial capital. In summary, Pure Market Broker positions itself as a straightforward and transparent option, aiming to meet diverse trading needs without unnecessary embellishments. Whether you’re a beginner or an experienced trader, Pure Market Broker strives to offer a pragmatic platform tailored to your requirements.
Pure Market Broker is a financial services company that operates in various jurisdictions. It was initially regulated by the Vanuatu Financial Services Commission (VFSC), but the license granted by the VFSC has since been revoked. The company is currently licensed as an International Brokerage and Clearing House by the Mwali International Services Authority, with the Company Registration Number HY00623407 and License Number T2023313.
The company operates as a non-risk-taking broker, meaning it does not utilize client funds for its day-to-day operations, nor does it engage in any form of investment that could jeopardize client assets. It does not trade on its accounts or run a dealing desk, which eliminates any potential conflicts of interest.
In terms of client protection, Pure Market Broker holds the security of its clients’ funds in the highest regard. The company ensures that client funds are kept separate from its operational accounts, effectively isolating them from any risks associated with its business activities. The company also has a European representative office, Pure/Trade, which provides its services exclusively to residents of the EU countries.
If you are particularly cautious or prefer to trade with brokers under stricter regulatory frameworks, it might be wise to explore other options. Please see a list of regulated brokers for some alternative options.
Platforms & Tools
Pure Market Broker offers two main platforms for trading: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Let’s delve into each one to see what they bring to the table.
- MetaTrader 4 (MT4): MT4 is a well-established platform in the trading world, known for its user-friendly interface and a wide range of features. Pure Market Broker offers the MT4 web platform, which allows you to trade Forex from any browser and operating system without the need for additional software. This means you can access your account and start trading with just a couple of clicks, whether you’re on Windows, Mac, or Linux.
- MetaTrader 5 (MT5): MT5 is the successor to MT4 and offers even more advanced features. It includes more timeframes, more indicators, and a built-in economic calendar, catering to traders looking for a more comprehensive trading experience. In addition to the features offered by MT4, MT5 also provides access to additional markets. With an MT5 account, you can trade 58 FX Pairs, 6 Metals, 3 Energy, 13 Indices, 300 Stocks, and 4 Cryptocurrencies.
In addition to the MetaTrader 4 and MetaTrader 5 platforms, Pure Market Broker also provides a range of tools to facilitate informed trading decisions. Let’s take a closer look at these tools:
- Trade APIs: Trade APIs (Application Programming Interfaces) are a notable resource offered by Pure Market Broker. APIs allow traders to connect their trading algorithms and strategies directly to the broker’s servers for faster and more efficient execution. This is particularly useful for traders who use automated trading systems or want to develop their own custom trading applications.
- Slide-Charts: Slide-Charts are a valuable visual representation of market data and price movements. They can help traders to quickly and easily interpret market trends and patterns, which can be crucial for making informed trading decisions..
- Market Trend Dashboard: The Market Trend Dashboard is another useful tool provided by Pure Market Broker. It serves as a resource for clients to stay updated on market trends, which can be particularly useful for traders who use a trend-following strategy.
When it comes to education, Pure Market Broker seems to understand the importance of informed trading. They believe that good traders are educated traders, and to support this, they offer a range of free webinars for their registered clients. These webinars can be a valuable resource for both novice and experienced traders, providing insights into trading strategies, market analysis, and more.
In addition to webinars, Pure Market Broker also provides tutorials, although the details about these are also not explicitly mentioned on the website. Tutorials can be a great way for traders to learn about specific aspects of trading, such as how to use trading platforms or understand technical indicators.
Pure Market Broker offers a variety of markets for trading, catering to a range of different traders and investment preferences. Here’s a breakdown of the instruments available:
- Forex Currency Pairs: Pure Market Broker provides access to over 45 forex currency pairs, allowing traders to speculate on the exchange rates of major, minor, and exotic currencies from around the world. This includes popular pairs like EUR/USD, GBP/USD, and USD/JPY, as well as less commonly traded pairs.
- Index CFDs: For those interested in broader market movements, Pure Market Broker offers index CFDs. These financial derivatives allow traders to speculate on the performance of a basket of stocks representing a particular market or sector without the need to own the underlying assets.
- Commodities: Traders can also engage with commodity markets, including precious metals like gold and silver, as well as energy commodities such as oil. These markets can be attractive for traders looking to diversify their portfolios or hedge against inflation.
- Cryptocurrencies: Cryptocurrency trading is available with Pure Market Broker, offering a modern asset class that has gained significant attention in recent years. Traders can engage with the volatile price movements of digital currencies like Bitcoin.
Pure Market Broker offers two types of accounts, each associated with a different trading platform: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Here’s a detailed look at each of them:
- MT4 Account: The MT4 account is the entry-level account at Pure Market Broker. It requires a minimum deposit of 100 EUR/USD, making it accessible for traders who are just starting out or those who prefer to trade with smaller amounts. MT4 is known for its user-friendly interface, making it a good choice for beginners or less experienced traders. It offers a range of features, including four types of orders (market, limit, stop loss, trailing stop), and supports the use of trading robots for automated trading. The MT4 account operates on a market execution model and charges a commission of 30$/Million FX for forex trades and 0$ for CFDs. This means that traders pay a commission based on the volume of their trades, which can be a cost-effective option for active traders.
- MT5 Account: The MT5 account, on the other hand, requires a higher minimum deposit of 1000 EUR/USD. This account is aimed at more experienced traders or those with larger trading volumes. MT5 offers a wider range of advanced tools compared to MT4, making it more suitable for experienced traders. It also provides access to a larger number of assets, including stocks, commodities, and futures.The MT5 account also operates on a market execution model but offers a lower commission rate of 6Eur/6.5$ per standard lot. This can be a more cost-effective option for traders who trade in larger volumes.
Pure Market Broker offers a variety of funding methods to make it easy for traders to deposit and withdraw funds from their trading accounts. Here’s a closer look at each of them:
- Bank Wire Transfer: Bank wire transfer is a traditional and reliable method of transferring funds. It’s available for both deposits and withdrawals. However, it’s worth noting that bank transfers can take several business days to process and may incur fees from the bank.
- Credit/Debit Cards: Pure Market Broker accepts deposits and withdrawals via credit and debit cards. This is a convenient and fast method of funding, with transactions typically processed instantly. However, there may be fees associated with card transactions.
- Electronic Wallets: Pure Market Broker also supports electronic wallets, including Skrill and Neteller. These digital payment methods offer a quick and easy way to transfer funds, with transactions typically processed within 24 hours.
- Cryptocurrency: For those who prefer to use digital currencies, Pure Market Broker accepts deposits and withdrawals in Bitcoin. This can be a convenient option for those who already use Bitcoin, and it offers the added benefit of typically lower transaction fees.
In conclusion, Pure Market Broker offers a range of features that can cater to different types of traders. From a variety of trading platforms and tools to diverse market offerings and account types, there’s a lot to explore. The broker also provides some educational resources and multiple funding methods for the convenience of its clients. While Pure Market Broker does seem eager to accommodate different trading needs, traders should carefully weigh the pros and cons before opening an account. However, it’s worth noting that while Pure Market Broker offers strong features, there are other brokers with longer track records that might be worth considering as alternative options. For additional choices, we encourage you to explore our trading brokers reviews. As always, conducting thorough due diligence is key in selecting a broker that aligns with your priorities.