Forex brokers accepting PayPal: features and reviews

Just as the Forex market started to develop, more and more payment systems became interested in providing their services for various brokers. That can be explained by the wish of Forex brokers to provide their customers with the highest standards of the services offered, as well as to ensure that they can transfer money from account to account without any difficulties. That, in turn, benefits both service providers and FX brokers themselves, as the latter group is able to ensure the highest level of comfort for their users, as well as to improve the health of the financial market as a whole.

At the moment, the Forex traders are using payment system services in more than 200 countries. However, there are already several payment systems ready to offer their services to Forex brokers. But today we will focus on the Forex brokers allowing PayPal payments and will discuss why that method of withdrawing and depositing funds on the trading account is one of the most reliable and beneficial ones. Notably, PayPal is now serving more than 100 countries out of those 200 and offers its services to the local Forex traders and brokers.

AxiTrader

AxiTrader Review

Minimum deposit

$0

Regulation

FCA, ASIC, DFSA

Bonus

20%

Maximum leverage

1:500

Year founded

2007

Trading platform

MT4

XM Group

XM Forex Review

Minimum deposit

5$

Regulation

CySEC, FCA, ASIC

Bonus

30$, 50%+20%

Maximum leverage

30:1

Year founded

2009

Trading platform

MT4, MT5, WebTrader

IQ Option

An in-depth IQ Option Review of fees, opportunities and more

Minimum deposit

$10

Regulation

CySEC

Bonus

N/A

Maximum leverage

1:30

Year founded

2013

Trading platform

WebTrader

MultibankFX

MultiBank FX Review

Minimum deposit

$200

Regulation

ASIC, BaFin, FMA, CNMV, FSC, CIMA, RAK

Bonus

$50,000

Maximum leverage

500:1

Year founded

2005

Trading platform

MT4

HotForex

HotForex Review – Are they one of the best options out there?

Minimum deposit

$5

Regulation

FCA, SV, FSCA, DFSA, FSA

Bonus

100%

Maximum leverage

1:1000

Year founded

2010

Trading platform

MT4, MT5

Forex.com

Forex.com Review

Minimum deposit

250$

Regulation

FCA, NFA

Bonus

N/A

Maximum leverage

200:1

Year founded

1999

Trading platform

MT4

Plus500

Plus500 Review

Minimum deposit

100$

Regulation

FCA

Bonus

N/A

Maximum leverage

30:1

Year founded

2008

Trading platform

Custom

Trading 212

Trading 212 Review

Minimum deposit

100 GBP/EUR,150 USD

Regulation

FCA, FSC

Bonus

N/A

Maximum leverage

1:300

Year founded

2006

Trading platform

Trading 212

AMarkets

Why you should rely on AMarkets reviews

Minimum deposit

No limit

Regulation

FSA

Bonus

25%

Maximum leverage

1:1000

Year founded

2007

Trading platform

MT4, MT5, WebTrader

Z.Com Trade

Z.com Trade Review

Minimum deposit

5$

Regulation

FCA

Bonus

N/A

Maximum leverage

200:1

Year founded

2005

Trading platform

MT4

Trading.com

Trading.com review

Minimum deposit

N/A

Regulation

FCA

Bonus

N/A

Maximum leverage

N/A

Year founded

2019

Trading platform

WebTrader

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

PayPal background on the Forex market

CFD brokers accepting PayPalPayPal has already managed to gain everyone’s support and appreciation. It was established in 1988 in the USA. In 2002, it was bought by eBay and in 2007 it received a banking license from Luxembourg government. Therefore, it shifted its headquarters and center of EU operations there.  That is why a huge number of FX brokers that accept PayPal as the payment method is no surprise. With its 30-year heritage, PayPal now is one of the leading Forex e-wallets that allows traders to easily transfer their funds from banking account directly to the trading balance. Due to the usage of PayPal, trading on Forex became even easier and safe.

Operations overview of FX brokers accepting PayPal

As there are many options available nowadays, brokers need to evaluate the pros and cons of going with one payment system or another. Notably, as PayPal is the most used one, we may understand that it is the most beneficial and secure one on the market. Therefore, we thought it will be handy for you to learn what exact advantages does PayPal offer to Forex brokers and traders respectively.

Usually, PayPal was being used for online services like buying products from online stores, paying customers and producers from overseas, etc. However, as the financial market started to develop, the payment system found yet its another useful implementation. Now PayPal is known not only as the safest payment method in general but also as the greatest way of funds deposit and withdrawal. Thus, you may now notice that there are hundreds of CFD brokers accepting PayPal today.

Moreover, unlike some other payment systems, PayPal does not limit citizens outside of the USA to use its services. Thus, it is available for everyone. All in all, the payment method provided by the company is the best on the market at the moment and that can be justified by a number of factors that will be discussed in details shortly in the article.

Benefits offered by PayPal Forex trading brokers

PayPal has definitely justified its strong reputation over the last few years. That is why now it is one of the most widely adopted ways to withdraw earned funds from currency trading and to deposit those to a trading account of a Forex broker or a dealing desk. As the simplicity and affordability of the system are almost the motos of the company, there are literally no problems connected with the possibility to attach a credit or a debit card of a trader to his/her PayPal account. However, we feel like that is important to discuss factors that are making PayPal a number one choice for Forex brokers and traders around the world.

PayPal as a guarantee of reliability

PayPal Forex trading accountEven though PayPal is easy to use, it might be a real struggle for Forex brokers to sign up with it. As it has a list of strict rules and policies the FX broker needs to obey before applying for PayPal service provision. Notably, those restrictions and requirements are targeted towards the international Anti-Money Laundering laws. Thus, if you see that the broker states to provide PayPal Forex trading account, you can immediately understand that those guys are safe and reliable to trade with.

Low commissions charged from Forex brokers

PayPal is not only the most reliable payment system but is also one of the most affordable ones. As it charges Forex traders with only 3% of commissions. However, there are also some brokers that would make a refund for your PayPal fees, so that as a result you would be able to trade without actually paying any additional charges. Moreover, it is truly friendly for all traders, regardless of their funds. Thus, if you have at least $5 on your account, you can start using their services.

An efficient and safe process of withdrawing and depositing funds

While using PayPal to charge your trading account with money, you do not need to share your banking account details with the Forex broker. Thus, all your private information has actually kept a secret between you and the payment system. The speed of transactions is the highest available on the market. Meaning that it rarely takes more than 24 hours for money to be withdrawn or deposited on accounts of the Forex brokers with PayPal payment option.

Shortcomings of the Forex trading brokers with PayPal deposit

Even though it seems like PayPal might be a perfect option for any Forex trader who wishes to withdraw or deposit money on his/her broker account, that is not entirely like that. Yes, PayPal is still the best option available on the current market. However, there are some aspects worth your attention.

No chargebacks available

That is actually the main issue associated with the PayPal payment system. As it does not enable its users to make any chargeback unless the transactions were made as payments for physical goods. And as Forex transactions are intangible, you won’t be able to transfer your money back to any of the accounts.

The PayPal withdrawal and deposit procedures

Both of those processes are quite easy and carefree. Forex brokers with PayPal withdrawal option are usually easy to navigate across. Thus, you shall not face any severe inconveniences while trying to deposit your money on trading account or withdraw it to your bank account.

First, you need to understand how the PayPal system actually works. The merchants, or retailers if you will, that are providing PayPal as an option for payment provision, are installing the online PayPal pages through POS outlets mainly. That what actually makes it so unique and different from any other payment methods, as it is entirely online.

In order to ensure that the PayPal account won’t run low, the users, as well as Forex traders. are connecting it to their bank accounts. As you can only receive transfers from other holders of the PayPal account, you need to check with one of the members of the PayPal Forex brokers list you have decided to go with if they are offering the payments to be entirely made with your PayPal account. Notably, if the broker has it as the only existent way of payment creation, then you do not need to worry.

When it comes to withdrawals, things are really easy and understandable here as well. The funds from your trading accounts will be charged to the payment method that was indicated initially. But you need to keep in mind that due to the modern Anti-Money Laundering laws, the funds might be transferred to the original payment method that was used to fund your Forex trading account.

Bottom line and additional factors to consider

All in all, PayPal is undeniably the preferred mode of payment for the majority of Forex trading broker across the globe. That might be explained by a number of factors like the high speed of transactions, long-lasting heritage of PayPal, the reliability of the company, ease of use, as well as affordability of service fees.

Notably, as PayPal does not have a central regulatory status, it is regulated by the respective region’s financial authority. That keeps the organization as transparent and safe in over 200 countries. However, just because it shall comply with the regulations and policies of every country it operates in, there are certain features that are applicable to certain countries.

Thus, PayPal has recently enough limited the freedom of financial transactions in a number of countries like Japan, Turkey, India, and Crimea. Therefore, before signing with the Forex broker, you need to check first what are the payment methods available and whether there were any restrictions applied to its operations.