Top Forex Platforms That Accept PayPal as a Payment Method.

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What is PayPal?

PayPal is an electronic payment method or other, an online mode of payment that enables people to pay for goods and services online as well as transfer money in electronic form worldwide.

When was PayPal founded?

The company was founded in 1999 by a team of programmers led by Elon Musk, the current CEO of Tesla Motors and SpaceX Technologies.

PayPal users have access to the PayPal digital wallet and the PayPal credit card processing system. These are features they can use to perform transactions online both locally and across borders.

PayPal is recognized worldwide and international firms support it as a payment option. International firms which support PayPal as a payment method include Forex brokers.

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Why Use PayPal for Deposits and Withdrawals?

Do you need convincing reasons why you should go ahead and use PayPal as your preferred payment method every other time you are depositing or withdrawing funds on your broker platform?

Well, consider these the top 5 reasons to use paypa for Forex deposits.

  • PayPal is a fast payment method. It is well known for instant deposits and same-day withdrawals when used to deposit and withdraw funds with Forex brokers.
  • PayPal gives you options. You can use the digital wallet or the credit card processing service to handle transactions from any debit cards issued by third-party companies. These include the prepaid cards issued by your Forex broker.
  • PayPal is easy to fund. You can fund your PayPal account using mobile money wallets or using credit or debit cards attached to your bank account.
  • PayPal safeguards your Privacy. Do you want to get instant transactions processed to start trading Forex, but are not willing to compromise the privacy of your card details by entering them into your Forex broker’s website? Use paypal.
  • PayPal offers chargebacks. The company offers chargebacks on disputed transactions. If a deposit transaction was not authorized by the trader, it can be disputed using the Paypal chargeback process, which can lead to PayPal granting the refund.

Why Choose a Forex Broker which Supports PayPal.

Forex brokers support various payment methods.

Some will support PayPal as a payment method to accept deposits and process withdrawals while others will not.

Now that you understand how convenient and suitable PayPal is for Forex Trading, then you might be inclined towards brokers which support PayPal.

Here are more reasons why you need to go for the broker which supports PayPal payments:

  • PayPal is secure. This is because it presents several user authentication processes to ensure that any transaction using PayPal is being done by the owner of the PayPal account only.
  • PayPal is instant and fast. Apart from security, the PayPal digital wallet also offers a fast means of depositing and withdrawing funds.

All PayPal transactions are instant and any delays are abnormal.

  • PayPal offers a variety of currencies. The payment method is a multi-currency platform, supporting over 25 currencies.

What that means is that there is no need to perform an offline currency exchange even if the PayPal account currency is different from the currency in which the trading account is maintained.

PayPal will handle the conversion for you at a very small insignificant fee.

PayPal Limitations.

The main drawbacks with PayPal include the following:

  • PayPal is not available in all countries of the world. Some countries are blacklisted from using PayPal.
  • Most countries allowed to use PayPal are granted “Send Only” status.

This means that while deposits can be made to the trading account, it is not possible to withdraw funds using PayPal.

That is considering the fact that many Forex brokers insist on withdrawals being made with the same transaction method as the one used to deposit.

Does your country have a “Send Only” status on PayPal?

Then you may not be able to get the best out of a Forex broker which supports PayPal.

However, if your country is granted protocols to both send and receive funds, then good for you.

You can use your PayPal account to enjoy the best of PayPal’s services including deposits and withdrawals with Forex brokers supporting PayPal.

Top Forex Platforms That Accept PayPal.

Now that you know the ins and outs of the PayPal payment method, how about pinpointing the major Forex platforms that actually accept the PayPal payment method?

Here is my list of top Forex platforms that accept PayPal:

  • eToro.
  • Plus500.
  • AvaTrade.
  • Pepperstone.
  • IG Markets.
  • FxPro.
  • ForexTB.
  • HYCM.
  • FP Markets.
  • XTB.
  1. eToro.

Founded in 2007, eToro has its Headquarters at Kanika International Business Center 7th Floor, 4 Profiti Ilia Street in Cyprus.

The minimum deposit is $200 and the broker’s strict regulators are ASIC, CySEC, FCA, MiFID among other serious regulators.

The social trading platform is a unique feature that has made eToro stand out.

It has changed the nature of the way beginner online traders can trade the financial markets.

It made the markets accessible to everyone, no matter what their level of experience by creating a user-friendly environment and allowing traders to copy the trades of other traders’ strategies automatically.

eToro offers a wide range of markets but charges high trading fees. The broker does not also support MetaTrader 4 or 5 but its own platform.

  1. Plus500.

In 2008, Plus500 which has its headquarters at Building 25, MATAM, Haifa, in Israel, was established.

The minimum deposit is $100 and the broker’s regulators are ASIC, CySEC, FCA, FSB, ISA, MAS among others.

Plus500 offers a variety of asset classes and commission-free trading. Multilingual customer support is also available.

The Plus500 platform is simple and easy to use, but no mobile trading is offered. The broker does not also offer market news and trader education.

  1. AvaTrade.

Established in 2006, AvaTrade has its headquarters in Ireland.

The minimum deposit is $100 while the Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE, and BVI are the regulators of the broker, among others.

A wide range of markets is offered by AvaTrade as well as a wide range of trading platforms.

The trading platforms supported include MT4 and 5 and that means that mobile trading is supported as well.

  1. Pepperstone.

Founded in 2010, Pepperstone has its Headquarters in Australia.

The minimum deposit is $200 and ASIC, FCA, CySEC, CMA, BaFIN, and FSCA are the regulators of the broker, among other regulators.

A wide range of markets is offered by Pepperstone as well as a wide range of trading platforms.

The trading platforms supported include MT4 and 5 and that means that mobile trading is supported as well.

Webtrader is also available.

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  1. IG Markets.

Established in 1974, IG Markets has its Headquarters at Cannon Bridge House in London.

You can find out for yourself the wealth of experience the broker has, since 1974 to-date.

IG Market’s minimum deposit is $250 and ASIC and FCA among other regulators, are the strict regulators of the broker.

The range of markets offered is from Forex, Indices, Stocks, Commodities, and crypto to ETFs.

IG Markets supports MT4, Webtrader, and mobile trading. Indeed, a wide range of trading platforms.

  1. FxPro.

Established in 2006, FxPro has its Headquarters in the United Kingdom (UK). The minimum deposit is $100 and FCA, CySEC, DFSA, and SCB among other regulators, regulate the broker.

The range of markets offered is from Forex, Indices, Stocks, and Commodities to crypto.

FxPro supports MT4, MT5, and mobile trading.

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  1. ForexTB.

Founded in 2015, ForexTB has its Headquarters at Kleanthis Tower, Lemesou Avenue 71, 2nd Floor, 2121, Aglantzia, Nicosia in Cyprus.

The minimum deposit is $250 and CySEC is the broker’s regulator, among other reputable regulators.

  1. HYCM.

Established in 1977, HYCM has its Headquarters in the United Kingdom (UK).

It is FCA and CySEC among other regulators which regulate the broker while the broker’s minimum deposit is $100.

The range of markets offered is from Forex, Indices, Stocks, and Commodities to crypto.

HYCM supports MT4, MT5, and mobile trading. Indeed, a wide range of trading platforms.

  1. FP Markets.

Established in 2005, FP Markets has its Headquarters in Sydney, Australia. ASIC and CySEC among other serious regulators regulate the broker and the broker’s minimum deposit is $100.

A wide range of financial instruments and trading platforms are available.

FP Markets supports IRESS, MT4, MT5, and Webtrader platforms.

The broker also offers a range of education and market analysis resources through the Traders Hub.

FP Markets offers Technical analysis and fundamental analysis articles and videos, as well as trading ebooks and video tutorials through the Traders Hub.

Users can access client support via telephone, email, and live chat 24 hours a day, 5 days a week. 

  1. XTB.

Founded in 2002, XTB has its headquarters in Warsaw. IFSC, FCA, KNF, and CySEC among other regulators regulate the broker and the minimum deposit is $0.

I know you are wondering if you read that right but yes, there is no minimum deposit limit with XTB.

XTB is a CFD platform that supports Forex, indices, commodities, stock CFDs, ETF CFDs, and cryptocurrencies.

XTB supports 48 currency pairs with low spreads in addition to other instruments.

Matters trading platforms?

Users can choose between trading on the xStation 5 or MT4 platforms.

This brokerage offers leverage of up to 200:1.

Wrapping Up on Forex Platforms That Accept PayPal.

Think about the convenience PayPal offers you as a user.

If you would like to use PayPal to deposit and make withdrawals on any Forex broker, then above are the top Forex brokers which accept Paypal.

Consider other key parameters while choosing a broker though, don’t just jump onto a broker for the simple reason of supporting the PayPal payment method.

Happy Trading!


*Risk warning:

The information provided does not constitute a recommendation to carry out transactions. When using this information, you are solely responsible for your decisions and assume all risks associated with the financial result of such transactions.
 

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