List Of Brokers Accepting PayPal
Online payment was not a thing back in the early 2000s, but PayPal has been in the market since 1999 and thus deserves to be regarded as one of the first e-payment services in the world. The US-based company is popular across many online platforms, including forex brokers.
The majority of forex brokers' clients may prefer funding their accounts via e-payment as it is much faster, cheaper, and easier than the more conventional payment methods like Wire Transfer. As PayPal has been around for more than a decade and is registered under the US jurisdiction, the e-payment does not only provide clients with all of the good attributes of an e-payment but also high security and reliability.
Below is a list containing forex brokers that offer PayPal as one of their funding methods:
| Broker | Regulation | Max Leverage | Min Deposit | General Rating | |
|---|---|---|---|---|---|
| Pepperstone Australia 2010 | ASIC 414530 BaFin, 151148 Capital Markets Authority of Kenya, 128 CySEC, 388/20 DFSA (Dubai), F004356 | 1:500 | $200 | Review | |
| Tickmill Seychelles 2014 | BaFin 146511 CySEC, 278/15 FCA (UK), 717270 FSA (Seychelles), SD008 FSCA (South Africa), 49464 | 1:500 | $100 | Review | |
| eToro China 2007 | ASIC, 491139 CySEC 109/10 FCA (UK), FRN 583263 FINRA, 298361/SEC#: 8-70212 | 1:400 | $200 | Review | |
| Plus500 Australia 2008 | ASIC, 417727 CySEC, 250/14 FCA (UK) 509909 FSCA (South Africa), 47546 ISA (Israel), 5 Monetary Authority of Singapore, 2017-12-11 | 1:300 | $100 | Review | |
| ActivTrades Bahamas 2001 | DFSA (Dubai) F003511 FCA (UK), 434413 | 1:400 | $100 | Review | |
| ThinkMarkets Australia 2010 | ASIC, 424700 FCA (UK), 629628 FSA (Japan) 19/02/2021 FSCA (South Africa), FSP No 49835 | 1:30 | $1 | Review | |
| IC Markets Australia 2007 | ASIC, ACN 123 289 109 CySEC, 362/18 Securities Commission of The Bahamas SIA-F214 | 1:500 | $200 | Review | |
| Bulbrokers Bulgaria 1998 | Bulgarian National Bank GR00173 CNVM (Romania), 51389 FCA (UK), 544872 FSC (Bulgaria), РГ-03-0009/14.07.2008 ESMA | 1:200 | $100 | Review | |
| FXFlat Germany 1997 | BaFin, 148415 | 1:400 | $200 | Review | |
| FXGM Cyprus 2011 | BaFin, 130520 Banque de France 74353 CNMV (Spain), 3321 CONSOB (Italy), 3567 CySEC, 161/11 FCA (UK), 593528 FSCA (South Africa), 47709 ESMA | 1:30 | $200 | Review | |
| AGEA Montenegro 2005 | None | 1:500 | $1 | Review | |
| FXGlory Cyprus 2011 | None | 1:3000 | $1 | Review | |
| Deriv Malaysia 1999 | FSA (Labuan), MB/18/0024 FSC (BVI) SIBA/L/18/1114 MFSA, C70156 The Financial Commission, 08.06.2020 Vanuatu Financial Services Commission, 14556 | 1:1000 | $5 | Review | |
| XTB Austria 2002 | CNMV (Spain) 40 Czech National Bank, 56720 FCA (UK), 522157 FSA (Poland), 0000217580 IFSC (Belize), IFSC/60/413/TS/19 ESMA | 1:30 | $1 | Review | |
| iFOREX Cyprus 1996 | CySEC, 143/11 | 1:30 | $100 | Review | |
| Velocity Trade New Zealand 1999 | AFM (Netherlands) 29.05.2020 ASIC, 329813 FCA (UK), 497263 Financial Dispute Resolution (NZ), FM0279 FMA (New Zealand), FSP20003 FSCA (South Africa), 43295 ESMA | 1:200 | $1000 | Review | |
| FXPCM Canada 2007 | Dubai Gold and Commodities Exchange 114 SCA (UAE), 204 | 1:500 | $100 | Review | |
| ICM Brokers Vanuatu 2007 | None | 1:400 | $300 | Review | |
| MARKETSX Cyprus 2006 | AFM (Netherlands), 0900-5400 540 ASIC, 424008 BaFin, 122798 CySEC, 092/08 FCA (UK), 607305 FSA (Denmark), 6729 FSCA (South Africa) 46860 ESMA | 1:300 | $100 | Review | |
| ICM Capital China 2009 | FCA (UK), 520965 Jordan Securities Commission 02.04.2020 | 1:30 | $200 | Review | |
| GBE brokers Cyprus 2013 | CySEC, 240/14 | 1:30 | $500 | Review | |
| Fortrade United Kingdom 2013 | ASIC, 493520 CySEC, 385/20. FCA (UK), 609970 IIROC 20-0021 NBRB (Belarus), 193075810 | 1:100 | $500 | Review | |
| AMEGA Cyprus 2018 | None | 1:1000 | $1 | Review | |
| Capital Street FX Bulgaria 2012 | FSC (Mauritius), C112010690 | 1:3500 | $100 | Review | |
| GOMarkets Australia 2008 | ASIC, ACN081864039 CySEC, 322/17 DMCC (Dubai) 18.07.2020 | 1:500 | $200 | Review | |
| TradeFW Cyprus 2018 | CySEC, 298/16 | 1:30 | $250 | Review | |
| Your FX Broker Cayman Islands 2020 | Cayman Islands Monetary Authority 585163 | 1:100 | $100 | Review | |
| Yadix Seychelles 2010 | FSA (Seychelles), SD021 | 1:500 | $100 | Review | |
| Axes Ukraine 2018 | IFSA (St. Vincent and Grenadines) 338 llc 2020 | 1:500 | $500 | Review | |
| EuropeFX Cyprus 2014 | CNMV (Spain), 4065 CONSOB (Italy) 4071 CySEC, 258/14 Finansinspektionen (Sweden), 38431 ESMA | 1:30 | $1000 | Review | |
| BlackBull Markets New Zealand 2014 | FCA (UK), 9556804 FMA (New Zealand) FSP403326 FSA (Seychelles), BBG Limited | 1:500 | $200 | Review | |
| FxPro Bahamas 2006 | CySEC, 078/07 DFSA (Dubai), F003333 FCA (UK), 509956 FSCA (South Africa), 45052 | 1:50 | $100 | Review | |
| XtreamForex Marshall Islands 2015 | None | 1:1000 | $5 | Review | |
| Trading 212 United Kingdom 2006 | FCA (UK), 609146 FSC (Bulgaria), RG-03-0237 ESMA | 1:30 | $10 | Review | |
| Admirals Argentina 2001 | ASIC, 28381 CySEC, 201/13 FCA (UK), 595450 FSA (Estonia), 10932555 FSA (Seychelles), 8426894-1 | 1:500 | $100 | Review | |
| ForexVox United Kingdom 2019 | FCA (UK), 586541 FSA (Seychelles), Securities Dealer License No SD028 | 1:500 | $1 | Review | |
| Fusion Markets Australia 2018 | ASIC, 226199 Vanuatu Financial Services Commission 40256 | 1:500 | $1 | Review | |
| TOP1Markets Australia 2018 | ASIC, 488340/001276870 Vanuatu Financial Services Commission, 40436 | 1:100 | $100 | Review |
PayPal is a financial service company that supports online money transfers and provides an alternative to conventional checks and money orders. A US-based company, they are known as a fast and secure online payment system.
If your preferred forex broker allows deposit or withdraw via PayPal, you will see this option on their payment page. After you have selected that option, you will be redirected to your PayPal login page to verify the payment. You can also verify it using a fingerprint scan if your device supports it. Either way, your fund will arrive at your forex account in just a matter of seconds.
Since your forex account has been funded, you get your trading plan in motion. Sometimes later, you see a nice amount of profit you wish to withdraw. Can you receive them through your PayPal account?
Of course you can. Just log on to your forex account and find withdrawal on the payment page, then enter the amount you wish to withdraw which will redirect you to PayPal login page. Once your payment has been verified, your money will be at your PayPal account in 1 or 2 business days.
What are we looking at here besides its simplicity?
Forex traders actually treat their time as if it is money, so a service that can execute their command swiftly is something that they prefer. A service that allows forex traders immediately sending and receiving funds is surely something they like. Also, in a world where risk is all over the place, safety and security are something coveted by many. That is what PayPal brings to the table, they will not expose any vital information to anyone while transferring their users' money. Many forex brokers will not charge you for sending funds via PayPal as well.
There are other few things to look out for, though. For example, there are some countries where PayPal may not be available. For more information, see PayPal's terms and conditions regarding the available country and region. Some forex brokers may not allow deposits or withdrawals via PayPal as well. In that case, you can find another similar service to deposit funds to your forex broker.
Watch out for transfer fees and restrictions!
There is a limitation to the transferable amount via PayPal. The lower limit is usually somewhere between $100 and $200 and the upper limit is $10,000. There is no extra charge when you deposit your fund to your forex account via PayPal, but you might be charged up to 2.7% if you withdraw without trading. Here are extra fees that might be applicable to you:
- 2.7% for withdrawal without trading
- 4.5% for foreign transactions.
- 4% to 12% for other transaction fees.
With that being said, please refer to your broker's and PayPal's terms and conditions for further detail.
So, is PayPal worth to try in forex trading?
All in all, PayPal has been a trustworthy payment service, up to the point where some people claim that it is safer than a transaction done in credit or debit cards. They earned people's trust because they manage the transactions without exposing any confidential information. All you need to do is log in to your PayPal account. Plus, when you are doing a transaction on PayPal using your mobile device, you may use a fingerprint scanner to add another layer of protection to the security.
In short, PayPal is a dependable online payment service provider that can help forex traders in a way or two. There may be some cost or strict limitation, but that is just a modest fee for a secure and fast payment system especially when your forex broker allows deposit or withdrawal through PayPal. One big downside to this is the chargeback feature that you might not be able to benefit from since it only applies to the trade of a physical item.
If you don't mind the fees and restrictions and the listed brokers above suit your trading condition, then trying PayPal as a payment method is certainly worth it. After all, it is one of the major e-payment systems with more than 20 years of experience and reliable safety. However, you don't need to trade in a forex broker that doesn't fit your criteria just to try PayPal deposits and withdrawals. There are many other alternatives similar to PayPal provided by the majority of forex brokers today. See 4 Things to Consider about Forex Broker Deposit and Withdrawal to find out more.
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