Pure Market Broker Review 2024 with Rankings By Dumb Little Man

Pure Market Broker Review

Forex brokers play a crucial role in providing access to the foreign exchange market, a dynamic environment where currencies are traded. These entities act as intermediaries, enabling traders to buy and sell currencies, as well as other financial instruments. Among these brokers, Pure Market Broker stands out by offering a comprehensive range of services. They facilitate trading not only in Forex but also in CFDs on indices, energies, and metals, alongside the increasingly popular cryptocurrencies. Pure Market Broker is distinguished by its provision of essential trading tools and resources. The broker offers leverage, MetaTrader trading platforms, and up-to-date market data to its clients. 

Our comprehensive evaluation aims to present a balanced view of Pure Market Broker, combining expert analysis with real trader experiences. We’ll explore account options, deposit and withdrawal processes, commission structures, and other vital aspects. The goal is to furnish you with all the necessary details to make an informed decision about selecting Pure Market Broker as your go-to brokerage service. Through this balanced approach, we aspire to equip you with a clear understanding of what Pure Market Broker offers, ensuring you have the insights needed to navigate your trading journey effectively.

What is Pure Market Broker?

Pure Market Broker is a financial services provider that was established in August 2016. It operates under the regulation of four financial commissions, ensuring a secure and trustworthy trading environment. The broker’s global operations are particularly overseen by the Vanuatu Financial Services Commission, highlighting its commitment to adhering to regulatory standards and providing a reliable trading platform.

This broker offers a gateway to the Forex market, along with opportunities to engage in trading CFDs on various assets such as indices, energies, and metals. Additionally, Pure Market Broker caters to the growing demand for digital assets by enabling its clients to trade cryptocurrencies. This diversification allows traders to explore and invest in a wide range of markets from a single platform.

Pure Market Broker is equipped with leverage options, MetaTrader trading platforms, and up-to-date market data, tools essential for effective trading. These features are designed to enhance the trading experience, providing traders with the necessary resources to make informed decisions and develop comprehensive trading strategies. Through its robust platform and a variety of financial instruments, Pure Market Broker aims to meet the needs of traders at all levels of experience.

Safety and Security of Pure Market Broker

After a thorough research conducted by Dumb Little Man, it’s evident that the safety and security of Pure Market Broker are priorities for the firm. Pure M Global LTD, the entity behind the Pure Market Broker brand, is regulated by the Vanuatu Financial Services Commission and carries the registration number 14801. This regulation signifies the broker’s commitment to adhering to financial standards and practices. Additionally, it operates globally, serving traders from various parts of the world with its Forex intermediary services.

The broker has established a European presence through Pure/Trade, a representative office that caters exclusively to residents of the EU countries. This office is based in the Republic of Cyprus and is regulated by multiple commissions, including CySEC (Cyprus Securities and Exchange Commission), BaFin (Federal Financial Supervisory Authority), and FIU (Financial Intelligence Unit). Such regulation ensures that the broker operates under strict oversight, enhancing the trust and safety for its clients. Moreover, clients’ funds are safeguarded in segregated accounts with European banks or FCA-regulated liquidity providers, further ensuring the security of client assets.

In terms of client protection, Pure Market Broker’s clients benefit from insurance provided by Falcon Insurance, which covers up to $500,000 and up to $50,000 on any demand. This insurance policy is a significant safety net, offering peace of mind to the broker’s clientele. The broker also maintains a stringent privacy policy, ensuring that personal information of its clients is not transferred to third parties, which emphasizes its respect for client privacy and data protection.

However, it’s important to note that the leverage for EU clients is limited to 1:30, reflecting regulatory compliance and risk management practices aimed at protecting retail traders. Prospective clients are required to submit copies of their ID documents and a bank statement to start trading, a standard procedure in the industry to comply with KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations. Nonetheless, it’s noteworthy that the company does not offer negative balance protection, a factor that traders should consider when assessing risk management features provided by the broker.

Pros and Cons of Pure Market Broker

Pros

• 24/7 weekday live chat
• Trade copying available
• High leverage up to 1:200
• PAMM accounts for passive investing
• 0 pips spreads
• Multiple trading platforms (WebTrader, MT4/MT5)
• International regulation

Cons

• Withdrawal fees
• Trading fees on all accounts
• Minimum $100/€100 deposit
• No cent or Islamic accounts

Sign-Up Bonus of Pure Market Broker

Pure Market Broker currently does not offer a sign-up bonus for new clients. This information is up-to-date, reflecting the broker’s current promotions and offers. 

Minimum Deposit of Pure Market Broker

At Pure Market Broker, the minimum deposit amount required to start trading is $100. This entry threshold is set to make trading accessible to a wide range of investors, balancing affordability with the opportunity to engage in various financial markets. It’s a crucial detail for individuals considering Pure Market Broker as their trading platform, indicating the broker’s commitment to providing opportunities for traders at different levels of experience and financial capacity.

Pure Market Broker Account Types

After thorough research and testing by our team of experts at Dumb Little Man, we have detailed information on the account types offered by Pure Market Broker. Here’s a clear and organized breakdown:

MT4 Account

• Minimum deposit: €100 or $100
• Assets for trading: 58 currency pairs, 2 metals, 3 energies, and 13 indices
• Execution speed: 90% of orders are executed in less than 200ms
• Platform: MetaTrader 4

MT5 Account

• Minimum deposit: €1,000 or $1,000
• Expanded asset choices: Includes all MT4 assets plus 4 cryptocurrencies and a total of 6 metals
• Faster execution speed: 90% of orders are executed in less than 100ms
• Platform: MetaTrader 5

Pure Market Broker Customer Reviews

Customer reviews of Pure Market Broker highlight a mix of experiences. Many users appreciate the trustworthiness and ease of account opening, with fast deposit and withdrawal processes often cited as major benefits. The ability to transfer funds using local banks and the 30% credit for new deposits are also well-received features. Additionally, the Pure Master Card, available through the Pure Wallet application, is praised for its convenience. On the performance side, clients are generally satisfied with the quick execution of orders and the dedicated customer service. However, there are mentions of dissatisfaction, particularly from an investor who did not see any profit after a year. This spectrum of feedback underscores the importance of considering both the operational strengths and the potential financial outcomes when evaluating Pure Market Broker.

Pure Market Broker Fees, Spreads, and Commissions

Pure Market Broker adopts a straightforward approach to trading fees, spreads, and commissions, tailored to suit different trader needs. The broker provides two primary types of trading costs: spreads and fees per lot. For those trading on MT4 accounts, spreads begin at 0.2 pips, and the broker charges a $30 fee per lot for each traded Forex million. On the other hand, MT5 accounts benefit from even tighter spreads, starting from 0 pips, with a more favorable fee of $6.5 or €6 per standard lot.

Regarding deposit fees, Pure Market Broker offers various payment methods with minimal to no costs. For SEPA, Pix Payment, Guaranty Trust Bank (GTBank), Boleto, and cryptocurrencies, there’s a 0% deposit fee, making these options particularly attractive for traders seeking to minimize transaction costs. FasaPay users incur a modest 0.5% fee, while Etana Custody transactions come with a $20 fee, and Swift transfers are subject to a €20 plus 1.5% fee.

Withdrawals at Pure Market Broker also entail fees, which vary based on the chosen method and can be calculated in EUR, USD, percentage, or cryptocurrencies. Moreover, the broker applies swap charges for positions that remain open overnight, a common practice in the industry to account for the cost of carrying trades from one trading day to the next. This comprehensive fee structure is designed to maintain transparency, allowing traders to manage their trading costs effectively.

Deposit and Withdrawal

Pure Market Broker provides a variety of deposit and withdrawal methods, ensuring flexibility for its clients. According to tests conducted by a trading professional at Dumb Little Man, options include international bank transfers, cryptocurrency transactions, and electronic payment systems. This breadth of options caters to the preferences and needs of traders globally.

The broker has a policy where profits must be withdrawn using the same method as the initial deposit. This approach simplifies the process and aligns with regulatory requirements aimed at preventing financial crimes. Withdrawal fees vary depending on the method: SEPA transactions are charged €5, Swift transfers incur a fee of €30 plus 2%, and FasaPay withdrawals come with a 0.5% fee. 

Other methods, such as PIX Payment and Boleto, have a 4% fee, GTBank withdrawals are charged at 1%, and Etana Custody transactions have a $25 fee. Cryptocurrency withdrawals are subject to specific fees, including 0.005 BTC, 5 USDT, 0.02 ETH, and 5 XRP. This structured fee system underscores the broker’s transparency and commitment to providing clear financial transactions for its clients.

How to Open a Pure Market Broker Account

1. Click “Sign Up” at the website’s top or “Start Trading Now” in the main page center.
2. Fill in the account creation form with your first and last names, phone number, and email.
3. Check your email for a new user ID and password.
4. Change the password after verifying your identity.
5. Upload documents for identity verification.
6. Make your first deposit to start trading.
7. Access your Pure Market Broker user account for further options.
8. Review Pure Market Broker’s User Account Registration details.
9. Begin your trading journey by following the first steps in your user account.

Pure Market Broker Affiliate Program

Pure Market Broker offers two main types of affiliate programs designed to cater to different client needs. The Introducing Brokers program enables individuals to generate additional income by referring new clients to the broker. This program is ideal for those looking to leverage their network for financial gain without directly engaging in trading activities.

For institutional clients, Pure Market Broker provides a White Label solution. This option allows businesses to offer brokerage services under their own branding, utilizing Pure Market Broker’s liquidity and technologies. It’s a comprehensive solution for entities wishing to expand their services or enter the brokerage market with a reliable partner’s backing.

However, it’s important to note that Pure Market Broker does not extend partnership opportunities to retail clients aiming to earn through referrals and their subsequent trades. This limitation highlights the broker’s focus on specific affiliate program structures, catering to introducing brokers and institutional clients with tailored solutions.

Pure Market Broker Customer Support

Based on the experience of Dumb Little Man with Pure Market Broker’s Customer Support, various channels are available to reach out for assistance. Clients can use live chat, telephone, feedback form, and email to get in touch with the support team. These options provide flexibility and convenience, ensuring that help is readily accessible whenever needed.

The Pure Market Broker website lists email addresses for different departments, including Information, Partner Relations, Back Office, and Trading Desk. This specialization ensures that inquiries are directed to the right department, facilitating efficient and effective responses. Additionally, clients can request information about the regulation of the Vanuatu market and Pure Market Broker’s compliance with the country’s legislation via email. This comprehensive support structure demonstrates Pure Market Broker’s commitment to transparency and customer satisfaction.

Advantages and Disadvantages of Pure Market Broker Customer Support

Pure Market Broker vs Other Brokers

#1. Pure Market Broker vs AvaTrade

Pure Market Broker and AvaTrade cater to different segments of the trading community. AvaTrade, with its inception in 2006, has a larger global footprint, serving over 300,000 customers with access to more than 1,250 financial instruments. It is known for its regulatory compliance across multiple jurisdictions, providing a sense of security to its clients. On the other hand, Pure Market Broker, established in 2016, offers a focused range of services with competitive spreads and a personalized trading experience. 

Verdict: While Pure Market Broker might appeal to those looking for specialized Forex and CFD trading opportunities, AvaTrade’s broad range of instruments, regulatory framework, and global presence make it a better choice for traders seeking a comprehensive and secure online trading platform.

#2. Pure Market Brokerr vs RoboForex

RoboForex distinguishes itself with a robust technology offering and a vast selection of trading options, boasting over 12,000 across eight asset classes since its inception in 2009. Its emphasis on cutting-edge technology and tailored trading experiences caters well to a diverse trading community. Pure Market Broker, while newer, focuses on providing a streamlined trading experience with competitive offerings in Forex and CFDs. 

Verdict: Considering the technology and range of options, RoboForex stands out as the better option for traders looking for diversity in trading instruments and platforms, along with customized trading conditions.

#3. Pure Market Broker vs FXChoice

FXChoice, established in 2010, positions itself as a broker committed to business integrity and customer focus, offering a mix of classic and professional ECN accounts tailored for experienced traders. Its regulatory compliance under the FSC of Belize and a focus on automated trading solutions highlight its appeal to a niche market. Pure Market Broker, with its competitive spreads and account options, provides a compelling alternative for traders prioritizing Forex and CFD trading. 

Verdict: FXChoice’s emphasis on professional trading conditions, coupled with its broader range of services for automated trading, makes it a preferable choice for experienced traders looking for a broker that caters specifically to their advanced needs.

>> Also Read: AvaTrade Review 2024 By Dumb Little Man: Is It The Best Overall Broker?

Choose Asia Forex Mentor for Your Forex Trading Success

For individuals passionate about forging a successful career in forex trading and aiming for significant financial success, Asia Forex Mentor is the top recommendation for the premier forex, stock, and crypto trading course. Ezekiel Chew is recognized as the inspiration behind numerous trading institutions and banks, leading Asia Forex Mentor with his expertise. Notably, Ezekiel’s ability to secure seven-figure trades consistently places him in a league above other educators.

Comprehensive Curriculum:Asia Forex Mentor delivers a thorough educational program encompassing forex, stock, and crypto trading. This curriculum prepares traders to thrive in these varied markets with essential knowledge and skills.

Proven Track Record: The reputation of Asia Forex Mentor is solidified by its history of cultivating traders who consistently profit across different market sectors. This success underscores the efficacy of their educational and mentorship approaches.

Expert Mentor: Students at Asia Forex Mentor receive mentorship from an expert with a proven track record in forex, stock, and crypto trading. Ezekiel’s personalized support empowers students to confidently tackle market challenges.

Supportive Community: Membership in Asia Forex Mentor includes joining a community of ambitious traders. This network promotes sharing, collaboration, and mutual learning, enriching the educational experience.

Emphasis on Discipline and Psychology: Achieving trading success requires discipline and a strong psychological foundation. Asia Forex Mentor emphasizes psychological training to aid traders in decision-making, stress management, and emotion regulation.

Constant Updates and Resources: Recognizing the dynamic nature of financial markets, Asia Forex Mentor ensures students stay informed on current trends and strategies. Ongoing access to resources helps traders maintain a competitive edge.

Success Stories:Asia Forex Mentor celebrates numerous success stories of students achieving financial independence through their comprehensive education in forex, stock, and crypto trading.

Asia Forex Mentor stands out as the definitive choice for aspiring traders seeking a comprehensive course in forex, stock, and crypto trading. With its all-inclusive curriculum, skilled mentorship, practical focus, and supportive community, Asia Forex Mentor equips traders with the tools and guidance necessary to become proficient professionals in diverse financial markets.

Conclusion: Pure Market Broker Review

In conclusion, the team of trading experts at Dumb Little Man has provided a comprehensive review of Pure Market Broker. This broker is celebrated for its competitive spreads, diverse account types, and access to a wide range of markets, including forex, CFDs, and cryptocurrencies. The availability of MetaTrader platforms and the option for leverage further enhance the trading experience for both novice and seasoned traders.

However, potential clients should be aware of the minimum deposit requirement and the absence of certain account types like Islamic and cent accounts. Additionally, the fees for withdrawals and trading could be a consideration for those with a tight budget or those who trade frequently.

>> Also Read: Scandinavian Capital Markets Review with Rankings 2024 By Dumb Little Man

Pure Market Broker Review FAQs

What types of trading does Pure Market Broker offer?

Pure Market Broker provides access to Forex, CFDs on indices, energies, metals, and cryptocurrency trading. This variety allows traders to diversify their investment portfolio within a single platform.

Are there any fees for depositing or withdrawing funds from Pure Market Broker?

Yes, Pure Market Broker applies fees for withdrawals, which vary depending on the method used. However, deposit fees are minimal, with several methods like SEPA and cryptocurrency transactions offering 0% fees.

Does Pure Market Broker offer any educational resources for new traders?

While this review primarily focuses on Pure Market Broker’s trading services, interested clients should contact the broker directly to inquire about educational resources. Most brokers, including Pure Market Broker, typically provide a range of materials to support traders in developing their skills.