forex broker accept paypal
forex broker accept paypal
The Top 10 Stockbrokers That Accept PayPal
Trading
Commodities
Updated 12 April 2021
Written by Jen Morris
Jen MorrisJen Morris
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ETORO – THE #1 STOCKBROKER
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Advantages of Using a PayPal Trading Account
Reliability and Security
Deposits and Withdrawals Are Quick and Typically Free
You Can Link Multiple Credit or Debit Cards
There Are High Maximum Transfer Allowances
PayPal Adopts Strong Anti-Money Laundering Policies
Disadvantages of Using a PayPal Trading Account
Charges on Trading Transactions
No Chargebacks on Financial Instruments
High Transfer Fees
What to Look for in a PayPal Trading Account
Is the PayPal Broker Regulated?
Does It Have a Good Reputation?
How User Friendly Is the Platform?
What Additional Features Are on Offer?
Does the PayPal Broker Fit with Your Trading Style?
Top 10 Stockbrokers That Accept PayPal Deposits and Withdrawals
1. eToro
2. Pepperstone
3. Plus500
4. City Index
5. XTB Trading
6. IG
7. FX Pro
8. IC Markets
9. Fpmarkets
10. Fondex
Final Thoughts
By far the world’s most popular e-wallet, PayPal facilitates simple and secure online money transfers for over 325 million active users worldwide.
Though originally designed for use in the eCommerce space, its speed, safety and simplicity mean more traders are now looking to use it to fund their trading accounts.
As a result, there is an increasing number of stockbrokers that accept PayPal for deposits and withdrawals.
This article looks at the pros and cons of a PayPal trading account and offers 10 reputable online brokers that use it.
Advantages of Using a PayPal Trading Account
Reliability and Security
One of the main benefits of a PayPal trading account is the high level of security it provides.
There is no need to input sensitive payment information into a third-party website – all you need are your account ID and password.
Deposits and Withdrawals Are Quick and Typically Free
So long as there are funds available in your account or through one of your registered payment methods, deposits made via PayPal are usually instantaneous.
Withdrawals need to be approved, so may take longer, but are still much quicker than other methods.
Bear in mind certain brokers may have associated charges, which you should be able to find out beforehand, but most provide service via PayPal for free.
You Can Link Multiple Credit or Debit Cards
If you have used PayPal for online shopping, you know how easy it is to use funds from your registered accounts, and the same goes for trading.
By linking multiple accounts, you will have easy and secure access to a range of funding sources.
There Are High Maximum Transfer Allowances
With a maximum transfer amount of $10,000 as standard, PayPal limits are more than sufficient for most beginner traders.
Once your PayPal account is verified, which simply involves linking an active bank account or credit/debit card, the maximum increases to $60,000.
PayPal Adopts Strong Anti-Money Laundering Policies
PayPal utilizes the latest technology in digital security and enforces strict regulation, so you have peace of mind your assets are protected.
Those that offer PayPal trading accounts must abide by these regulations, so you can also have increased confidence that you’re dealing with a reputable broker.
Disadvantages of Using a PayPal Trading Account
Charges on Trading Transactions
When using a PayPal trading account, you do need to factor in the charges applied to your trading transactions and how these affect your profit margin.
These are not too dissimilar to other e-wallets like Skrill and Neteller, but every broker will apply different charges, so be sure to do your research.
