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Pure Market Broker Review - Is it scam or safe?

Pure Market Broker Review - is puremarketbroker.com scam or good forex broker?

RATING: 2 / 0 REVIEWS
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Trading Accounts & Conditions

 

Account type Minimum deposit  Minimum trade size Maximum leverage Average Spreads (& Commission)
Pure Zero $100 0.01 1:100 1.1 pips
Pure STP $100 0.01 1:100 0.2 pips + $6 /lot

 

Pure Market Broker offers 2 trading account types. Both of them are accessible with an investment of $100 and offer variable spreads, leverage up to 1:100 and the option to trade in micro lots on the standard MetaTrader 4 platform. The Pure Zero account is commission-free, while the Pure STP account involves a commission but offers tighter spreads.

 

Pure Market Broker also offers PAMM accounts, designed for money managers and investors.

 

Indeed, the offerings of Pure Market Broker seem attractive: pure STP execution, the initial investment amount required is not high, the maximum leverage levels offered are reasonable and the spreads are good. Trading costs on Pure STP accounts are below 1 pip on EUR/USD per standard lot roundtrip. The only thing that bothers us with regards to this broker is the fact that it is registered offshore and not properly regulated.

 

The Company. Security of Funds

 

Company

Country

Regulation

Liquidity FX Broker LTD

Vanuatu

VSFC

 

UK-based Pure Market Broker offers trading in around 60 currency pairs, CFDs on indices, commodities and precious metals on the MT4 platform. The broker claims that it maintains a pure STP model with no conflic of interest and that its liquidity providers are Saxo Bank (Saxo Prime), Advanced Markets (for CFDs).

 

The company behind the brand, Liquidity FX Broker LTD operates under Vanuatu jurisdiction. Even though the Vanuatu Financial Services Commission is said to regulate and supervise the international financial services providers, the local forex regulatory regime is one of the laxest ones. 

 

In view of all the risks associated with doing business with offshore brokers, we would advise you to select among reputable brokers regulated in the EU (by CySEC in Cyprus or FCA in the UK) or Australia.

 

Another thing worth mentioning is that when we downloaded Pure Market Broker’s MT4, we found that the name of the company providing it is not the one licensed in Vanuatu, but Pure Market LLC instead.

 

Trading Platform

 

Pure Market Broker offers its clients the good old MetaTrader 4 (MT4), available as a desktop download, web version and mobile apps.

 

Supported by the majority of brokerages, MT4 provides all the necessary tools and features for traders to analyze price dynamics of financial instruments (advance charting tools, built-in indicators, back-testing options), execute trades and create & use automated strategies (Expert Advisors).

 

Pure Market Broker’s MT4 platform. Click for a larger image.

 

Methods of Payment

 

Pure Market Broker offers its clients wide range of payment options: via credit/debit card, wire transfer, Skrill, Neteller, China UnionPay, Western Union, MegaTransfer, 2Pay4You, Sofort and Bitcoin.

 

Conclusion

 

Pure Market Broker is a MT4 forex broker headquartered in the UK whose offerings appear attractive in terms of trading costs and execution. Our main concern with this broker is the unreliable regulation (offshore). Here are, in a nutshell, the advantages and drawbacks with regards this broker:

 

Pros Cons
Competitive spreads Offshore broker
MT4 available No choice of trading platforms
STP execution  

 

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Spread

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Traders` reviews for Pure Market Broker

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