Use Paypal to send funds to your online forex broker. Pay directly from your PayPal balance or link bank account, or charge it to your credit card. Paypal guarantees security in 2023 – forex brokers will not see the sensitive financial details of your credit card or bank account numbers. Every transaction is kept in your paypal account history – that way you can enjoy trading without worrying about small things like transactions!
PayPal has quickly become a global leader in online payment solutions with more than 153 million accounts worldwide. Available in 190 markets and 23 currencies around the world, PayPal enables global ecommerce by making payments possible across different locations, currencies, and languages.
PayPal has received more than 20 awards for excellence from the internet industry and the business community -most recently the 2006 Webby Award for Best Financial Services Site and the 2006 Webby People’s Voice Award for Best Financial Services Site.
Here is the list of forex brokers with Metatrader MT4 platform and other options that accepting PayPal.
|AvaTrade review||7||yes||1:400||100%||AvaTrader, MetaTrader 4, MetaTrader Floating Spread, Mac Trading, Web Trading, Mobile Trading, Automatic Trading, AvaOptions||100||Credit Cards, Debit Cards, Skrill, Wire Transfer, PayPal, Neteller, WebMoney|
|FxPro review||5||yes||1:500||up to $1,000||FxPro cTrader, FxPro cTrader Web, MT4 Client Terminal, MT4 MultiTerminal, MT4 WebTrader, MT4 Premium||100||Credit/Debit Card, Bank Wire, PayPal, Neteller, Skrill|
|FXDD review||3||yes||1:200||–||MetaTrader4, FXDD Trader, Power Trader, FXDD Auto, MTXtreme||100||Wire, PayPal, Check, BPS|
|Oanda review||3||yes||1:50||Metatrader 4, FXtrade||1||check, Credit cards, PayPal, Wire transfer|
|Pepperstone review||3||yes||1:500||100% Match Bonus||Metatrader 4, Metatrader 5, cTrader, cAlgo, cMirror||200||bPay, credit cards, Paypal|
|FinPro Trading review||2||yes||1:200||100%||Metatrader 4, zulutrade, Finopro station||5||credit cards, paypal, skrill, wire transfer|
|XTB review||2||yes||1:200||Metatrader 4, xStation, xMobile||250||Credit cards, Neteller, Paypal, Skrill, Wire transfer|
|eToro review||1||yes||1:30; 1:1 for Crypto Currencies||–||eToro Platform||200||Credit Cards, Debit Cards, Paypal, Neteller, Skrill, Webmoney, Wire Transfer|
|FXGiants review||1||yes||1:500||MetaTrader 4||500||credit cards, neteller, paypal, skrill, unionpay, Webmoney, Wire Transfer|
|Larson&Holz review||1||yes||1:500||Metatrader 4, Web Trader||100||credit cards, wire transfer, neteller, paypal, Yandex, liqpay, alfa click, beeline, mtc, perfect money|
|Trading212 review||1||yes||1:200||Trading212||100||wire transfers, credit and debit cards, PayPal, Dotpay, Giropay, SafetyPay, Carte Bleue, Mister Cash, Direct eBanking, CashU and UnionPay|
|FxGlory review||0||yes||1:3,000||50% up to $1,000||MetaTrader4, Mobile||1||Credit/debit cards, Paypal, Bitcoin|
|TrioMarkets review||0||yes||1:300||–||MetaTrader 4, Sirix Webtrader||100||Credit Card, Wire, Skrill, Neteller, Paypal and CashU|
|CIBfx review||0||yes||1:200||MetaTrader 4||100||Paypal, Skill, Credit Cards, Neteller|
|ForexMart review||0||yes||1:1,000||$150 no deposit needed||Metatrader 4||1||credit cards, Neteller, Skrill, Paypal, Paxum? Bitcoin|
|HonorFX review||0||yes||1:500||Metatrader 5||100||Credit Cards, Neteller, Skrill, Paypal, Bitpay, Fasapay, Perfect Money|
Can I use PayPal for Forex?
To make a PayPal deposit into your forex account, simply link your PayPal to your forex broker’s platform. Since PayPal funnels payments through both bank accounts and credit cards, you can then choose which of those two methods works best for your needs.
What Countries is PayPal Available in?
PayPal support sending and recieving payments in more than 200 countries and regions and support 25 currencies.
Paypal is country specific. This means that users in any given country can only link to a bank account they have in that country. The one exception is the USA: US Paypal account holders can link to bank accounts in other countries.
What Countries cannot use PayPal?
If you want to use PayPal with your broker when trading make sure PayPal is available in your country. PayPal is not available in the countries listed below.
- Cote Divoire
- Bouvet Island
- British Indian Ocean Territory
- Central African Republic
- Christmas Island
- Equatorial Guinea
- Heard Island and Mcdonald Islands
- North Korea
- Papua New Guinea
- Serbia and Montenegro
There are strong advantages to trading with brokers who accept Paypal:
- Transferring funds with Paypal is recognised as being fast, reliable and secure
- Paypal is easy to use, either on a desktop or through their app
- Making deposits and withdrawals with Paypal is generally very quick and certainly faster than bank transfers
- Paypal accounts are easily linked to multiple credit cards, debit cards and bank accounts
- Paypal is recognised worldwide as a major eWallet
- Paypal’s strong anti-money laundering restrictions give traders security and potentially enhance the reputation of brokers with Paypal
- High maximum transfer and withdrawal ($60,000)
- For forex traders, Paypal works in 56 different currencies
- Free to open an account
- No charges for unused account
However, day trading with Paypal does have its disadvantages:
- Charges on every trading transaction
- FX fees (foreign transfer fees) are high at 4.5%
- High transfer fees of between 4-12%
- Although increasing, trading brokers that accept Paypal are still relatively uncommon.
- Chargebacks only apply to tangible/physical goods, meaning forex and CFD traders etc. aren’t eligible