Contents
- 1 How to choose the best Forex broker that offers PayPal?
- 2 Why should anyone use PayPal for Forex trading?
- 3 How can you create a PayPal account?
- 4 What are the fees applied to the payments for funding PayPal FX Broker account?
- 5 Is it safe to use PayPal FX brokers?
- 6 Should you use PayPal Forex brokers?
PayPal is a worldwide payment system that offers people from more than 200 countries the ability to receive and send funds with just a few clicks. Since this method is very popular around the world, there is a number of PayPal Forex brokers on the market. With this guide, we will help you to learn more about everything that PayPal offers to its users, so, follow our tips carefully!
There are many things that make PayPal stand out from other payment methods; one of those things is that it is very easy to use. Also, you can have access to different types of guidelines on PayPayl’s website, including videos on how to create an account, how to make a payment, etc.
Developed by some of the best-known programmers in the world, including Elon Musk, PayPal was one of the first E-Wallets and it paved the way for many other companies to come.
How to choose the best Forex broker that offers PayPal?
There are not so many Forex brokers offering PayPal as a payment method, however, there still are a number of them. While looking for the best one for trading, there are some things that you need to consider. For example, there are some countries where this method is not allowed at all, like Bangladesh, Ghana, Iran, Moldova, Montenegro, etc. Also, there are some countries where this method is available but only for deposits, not for withdrawals.
This can be a problem since many of the brokers are demanding from their clients to use the same payment method for both, deposits and withdrawals. So, before you choose the best PayPal FX broker, be sure to check everything carefully.
Licences
FCA, CySEC, IFSC, ASIC, DFSA
Min. depo
$5
Leverage
1:888
Platform
MT4, MT5, WebTrader
XM
Licences
ASIC, FSA, FSCA, FFAJ, FSRA, FSC
Min. depo
100 USD
Leverage
400:1
Platform
MT4, MT5
AvaTrade
Why should anyone use PayPal for Forex trading?
PayPal has a very long history, which means that it had enough time to develop, it was able to adapt to modern times and manages to offer traders the safety that is needed so much. Among the benefits that you can enjoy while using PayPal, are:
- PayPal offers its users to make instant deposits and same-day withdrawals
- You can use both, digital wallet, and prepaid cards that are issued by FX brokers themselves
- PayPal offers clients security, there are several authentication processes that ensure your safety
- PayPal is a multi-currency platform, where you can enjoy 25 different currencies
What are the currencies that can be used at PayPal?
PayPal is best-known for the fact that it supports a bunch of different currencies. There are 25 different currencies that you can use while using PayPal to fund the FX trading account, it supports all the major currencies, such as USD, CAD, EUR, etc. The company offers its services to more than 200 countries, and the number is growing every day.
How can you create a PayPal account?
Before creating a PayPal account to deposit money on the Forex broker that offers PayPal, we want you to learn a bit more about the types of accounts that are offered by PayPal. There are two different types of accounts, personal accounts, and business accounts. Both of the accounts offer you similar benefits, however, for FX trading, we would recommend for you to create the personal account, since you will also be able to use that for every-day tasks.
While creating an account, you will need to list your country of residence, and provide accurate personal information. Both accounts are very easy to create and you can find special videos on how to create an account at the official website of PayPal.
What are the fees applied to the payments for funding PayPal FX Broker account?
In most of the cases, there are little to no fees applied to the deposits that you are making with PayPal for FX trading. However, you should always check the Forex broker’s website to learn if there are any fees that you should know about.
In addition, if you are using credit cards or debit cards to fund the PayPal account, there might be some fees applied to the payments by the card issuer. A great thing that could be very helpful is that if the trader has not authorized a deposit transaction, there might be a chance for you to get a refund from PayPal. In such a situation, contact the customer support team for detailed information.
Below, you can see some of the best Forex brokers that are using PayPal as a payment method.
XM
Min. Depo
$5
Licences
FCA, CySEC, IFSC, ASIC, DFSA
Leverage
1:888
Platforms
MT4, MT5, WebTrader
AvaTrade
Min. Depo
100 USD
Licences
ASIC, FSA, FSCA, FFAJ, FSRA, FSC
Leverage
400:1
Platforms
MT4, MT5
Exness
Min. Depo
$10
Licences
CySEC, FCA, SFSA
Leverage
1:2000
Platforms
MT4, MT5
FundedBull
Min. Depo
49 USD
Licences
N/A
Leverage
N/A
Platforms
MT4, MT5, cTrader
Forex.com
Min. Depo
$100
Licences
NFA, CFTC, FCA, FSA, IIROC and CIMA
Leverage
1:50
Platforms
WebTrader, MT4, MT5
CMTrading
Min. Depo
250 USD`
Licences
FSCA
Leverage
1:200
Platforms
MT4, WebTrader, Copykat
Plus500
Min. Depo
$100
Licences
FCA, ASIC, CySEC, FSCA, FMA, MAS
Leverage
1:30
Platforms
WebTrader, Windows 10 Trader
Is it safe to use PayPal FX brokers?
Security is perhaps one of the most important things when it comes to Forex trading. It already is a very risky business, so you do not really want additional risks added to them. PayPal prides itself on offering one of the safest ways of payments on the market, many go as f
ar as saying that using PayPal for depositing funds on the Forex account is safer than using credit or debit cards.
The fact that this service does not require disclosure to confidential information is one of the reasons for its classification as secure. You can simply log in to your account by using the username/email address and password to verify a transaction via PayPal.
In addition, PayPal uses one of the best-developed technologies to ensure that the people who trust them can feel safe while making transactions!
Should you use PayPal Forex brokers?
This question is something that you should answer. What are you looking for in a payment method? If you are already an active user of PayPal, want to make payments as fast as possible, if you are looking for a safe, easy-to-use, and secure way of payment, then you will be able to find a lot to enjoy with PayPal!