Trading and platforms

Why do I need the MT4 or cTrader trading platform?
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MetaTrader 4 and cTrader trading platforms are primarily intended to be used by active traders for opening, management, and closing of their trading positions. You can also use the platforms to find information about trading instruments, generate reports from the trading history and create automated trading systems (ie. AOS, ATS, EA). 
What is the minimum deposit for trading?
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The minimum deposit for trading is set to 20 USD / 20 EUR / 20 GBP / 80 PLN for ECN and STP account types. You cannot trade until this amount of funds is credited into your account. 
What are the trading hours of the instruments?
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You can find trading hours of the trading instruments in MT4 in the "Market Watch" section. Right-click on the selected symbol and choose "Specifications".
All the information about trading instruments is also available in the cTrader trading platform. Use the right-click in the window "Finder" in section “Trader” in the left menu. Right-click on the chosen instrument and select “Symbol Window”
From 11:59 p.m. to 0:05:59 a.m. MT4 and cTrader server time there is a trading pause for all trading symbols (with the exception of cryptos) due to the transfer of liquidity to next day. During this time there is low liquidity on the market which may cause a disproportionate increase of spreads. Trading is allowed from the 6th minute after midnight. 
In practice, it means that if the market price reaches a pending order at this time (e.g. stop loss or take profit) the order won’t be activated. If the pending activation price stays at the current level after the trading has been activated again, it will be filled/executed for the current market price. If the price has not reached the pending order level, the order won’t be filled/executed.
Cryptos can be traded five days a week without restrictions, ie from Monday from 00:00 to Friday at 23:30 time server. If you have open trades on crypto, each Friday at 23:30 MT4 and cTrader time, these orders are closed.

How do I change the leverage on my account?
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As a retail client, you cannot change the leverage as this process is possible for professional clients only. Every live trading account is automatically opened with leverage given by ESMA regulation. Since each instrument has given leverage, feel free to check the overview of instruments with specific leverage which can be found on our website.

The highest possible leverage for professional clients is 1:400. How to become a professional trader and what is the available leverage please take a look on our website. (Leverage 1:400 is valid only for forex, the leverage is not taken into account for CFD trading.)

How are the margin call and the stop-out levels set? How do they work?
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Margin call level is set up to 100% of the used margin (the equity of the account is equal to the used margin). If the margin level drops to this value, the client is notified to fund his account to keep the positions open or to be able to open new trades. Notification is displayed directly in MT4 and cTrader and at that moment it is not possible to open another trading position. 
The stop-out level is set to 50%. If margin level falls to this level, MT4 or cTrader server automatically closes the trading position, which is in the biggest loss, until the margin level is again at least 50%.

Where is the Purple Trading’s server located and what is the time zone?
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Our servers are located in Equinix data centers in London (LD4). LD4 Server is set to EET time zone (Eastern-European time). This setting is used so that the closing of a daily bar corresponds to the New York trading closing time (17:00 EST). Trading therefore always starts on Sunday at 23:06 CET and ends on Friday at 22:59:59 CET. 

Does Purple Trading provide historical data?
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Unfortunately, we do not provide historical data, however, it is possible to take a look at short-term MT4 platform data which are quantified by the number of bars and are not fixed to a specific time frame. The amount of stored bar data is limited by the server. For example, for M1 timeframe we store data about 2 weeks to the past. Historical data of third parties can be imported into MT4 through the "History Center", and into cTrader through “Automate” tab. 
Why wasn’t my trading order executed when the market price reached the order activation price?
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Types of orders MARKET SELL, SELL or SELL STOP LIMIT are opened at the BID price (The best possible price at this moment at which you can make a sale). During execution, the orders SELL STOP / LIMIT change into MARKET SELL order and they are subsequently closed at an ASK price (the best possible price at the moment at which you can make a purchase - higher than the BID price).

The chart is created by BID price and therefore if the price displayed on the chart reaches the exactly defined order Take Profit, the position is not closed until the Take Profit is reached by the ASK price. It is possible to display the ASK price in the graph after pressing F8 and by checking the option “Show ask line“ under “General.”

The same applies vice versa for a potential hit of Stop Loss for SELL trading positions. They will be executed even though the drawn BID price in the graph did not reach Stop Loss, but the ASK price did.  
What is the average speed of execution of trading orders?
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Our trading server which is located in London, Equinix (LD4), is directly connected to our liquidity pool. 
Therefore the speed of execution of trading orders reaches only around 100 milliseconds.
More information can be found on our website, where we have more information about our trading statistics.




What slippage should I expect?
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Slippage depends on current market liquidity. Under normal market conditions, the slippage is around zero. In case of scalping during the release of macroeconomic news, it may be several tens of pips. Our server is connected to our liquidity pool and they are both located in London. This ensures excellent market depth for filling up the high volume trades and also reduces slippage. We also allow positive slippage in clients’ favor. 

Transparent statistics of execution of trading orders available on our website.

What are the minimum volume and step volume for trading?
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All offered currency pairs (Forex) and CFD for stock indicies can be traded with the minimum volume step 0.01 lot, i.e. you can open a trading position of 0.02 lot, 0.78 lot or 2.14 lots.
For CFDs for commodities the minimum volume and the volume step are available in the MT4 platform. In the "Market Watch" use right-click and choose Specification of the chosen symbol.
This information can be also found in cTrader, right-click in the window "Finder" in section “Trader” in the left menu. Right-click on the chosen instrument and select “Symbol Window”.
Specification of all trading instruments can be found on our website.

How does hedging work?
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Hedging is used to secure trading positions against possible adverse changes in market conditions and the risk of loss. Hedging is opening a position on the same trading instrument but in the opposite direction (e.g. for each buy order there should be a corresponding sell order). 
Trading position can be hedged partially or completely. Every broker can set up its own conditions for hedging. In order to allow the traders the freedom of management of their trades, we have decided not to charge margin for these trades. However, more freedom means more responsibility. Since there is no margin used, it is impossible to reach stop-out, but in case the equity level decreases under 0, MT4 server automatically closes trading positions. It is impossible to have an opened loss larger than the account balance in the market. Hedging does not cause spontaneous deepening of losses, but there may be fluctuations because of the changing spread. 
For the closing of hedged positions, Close-by or Multiple close by function may be used, which closes both hedged positions simultaneously (see the picture below). Completely hedged positions do not have any exposure between each other, therefore it is possible to close one position at the price of the second one. A side effect is spread saving.

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