Finding the best way to fund a Forex trading account is one of the many factors a trader has to consider when choosing a Forex broker. Fortunately, there are a number of reliable and trustworthy ways in which it is possible to make deposits and withdrawals, one of which is PayPal. There are a number of PayPal Forex brokers to choose from, and a number of benefits you can expect to enjoy, should this particular method of payment be the chosen one. The advantages include the following:
- Speedy execution of transactions – Compared with many other payment methods PayPal is lighting-quick, for both deposits and withdrawals.
- PayPal is reliable and secure – Traders don’t have to worry about sharing credit card details with a broker, and it’s so easy to check that a payment has been made. It’s also possible to claim a refund from PayPal if money isn’t credited to a trading account within 72 hours.
- PayPal fees are reasonable – Compared with the fees and charges imposed by other online payment providers, PayPal’s are really rather reasonable. Even better, there are a few PayPal Forex brokers that will refund any transfer fees, saving a trader even more money.
It’s quick and easy to open a PayPal account, if you haven’t already got one, and it won’t be long before everything is under way. There is a verification process, but this doesn’t take a huge amount of time. Now you appreciate the benefits, it’s time to give you a few more details about the company in general, and how you can expect it all to work.
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100%
Min Deposit: $100
Profit Split: up to 90%
Accounts: $25k-$200k
Challenge: 2-phase, no time limit
Welcome Bonus
10% up to $5,000
Min Deposit: $100
Welcome Bonus
$25
Min Deposit: $100
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100% Deposit Bonus
Min Deposit: €10
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100%
Min Deposit: $0
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$30
Min Deposit: $5
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NONE
Min Deposit: $100
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$50 Free
Min Deposit: $500
* T&Cs apply to each of the offers. Click “Trade” for more details
Introducing PayPal – A widely available method of making online payments
PayPal is currently one of the world’s largest online payment companies. Although it is based in America it actually provides its service in more than 200 countries. It boasts more than 180 million worldwide users and offers payments in 25 different currencies. PayPal has been providing its online payment service for nearly 2 decades, and has earned itself a reputation for being reliable and secure. It started out as a security software company, and didn’t add money transfer services to the menu until 1999. eBay acquired the company in 2002, which led to an increase in its popularity. In 2015, it became a separate company.
There’s nothing complicated about PayPal and how it works. It is simply a way for people to make financial transfers to another computer that uses encryption software. It is available for both business and individual clients, and only requires that both parties to a transaction have an email address. Payments can be made without a PayPal account, but the recipient of the funds must have a PayPal account linked to the email address. It is free to open an account, and some of the transactions are also free. As well as there being a number of PayPal Forex brokers, a number of other merchants accept PayPal as a method of payment. It’s possible to fund and make withdrawals from a PayPal account in various ways, such as linking a bank account or a credit card.
PayPal is a method of payment known as an eWallet, as is used by other payment methods such as Skrill and Neteller. eWallet payments are well protected, as there is an additional layer of security. Bank account numbers, credit card details, and addresses are never transmitted across networks, as the information is held within PayPal. A PayPal Security Key can be added as an additional security measure. This involves the PayPal account holder being issued with a portable device that creates a 6-digit code every 30 seconds. Along with the user ID and password, it creates a unique security code. If you’re looking for additional security this added measure is definitely worth the additional expense.
How to find the best Forex brokers that accept PayPal
There are a huge number of Forex brokers that accept PayPal, so there will be no problem finding one. The difficult part will be finding the best one, as well as the one that meets all your other requirements. In the first instance, you’ll need to compile a list and then make comparisons to help decide which is the best. Let’s give you some tips on creating a list of potential PayPal Forex brokers…
Check the payments page of the broker you’re already registered with, as they may accept PayPal. There should be no problem changing payment methods if you currently make deposits and withdrawals via another method. The customer service department are the best people to ask about making the change.
If you aren’t already registered with a broker, or need to find another one that accepts PayPal, the best place to start is by reading a selection of Forex brokers reviews. There is usually a section that covers payment methods, and we certainly include it in our reviews. Reading reviews will also give you the opportunity to compare other important factors such as bonuses, trading platforms, regulation, and other additional features.
Use your usual search engine and type “PayPal Forex brokers” into the search bar. There will be more hits than you thought possible, and some of the sites will also offer a comparison option.
The benefits of choosing PayPal Forex brokers
There are a number of reasons why it’s a good idea to choose a Forex broker that accepts PayPal. We’ve already touched on a few of them, but let’s put them all together for your convenience:
- Choosing a PayPal Forex broker gives you peace of mind, as you will be dealing with a payment provider that has a good reputation.
- PayPal is currently available in 202 countries.
- The security provided is of the highest quality, and many experts believe that there is no payment method currently available that is more secure.
- PayPal can be used for more than Forex trading. There are a number of online stores that accept it, and it can be used to send money and pay for many other services.
- Many of the top Forex brokers accept PayPal, and there are some that offer special bonuses for clients that pay using PayPal.
- Compared with some of the other payment methods, PayPal is relatively inexpensive.
- Some payment methods can take several days, while PayPal payments are usually processed within 24 hours.
- It is possible to fund a PayPal account in a number of different ways, including credit and debit cards, or direct from a bank account
As you can now appreciate, PayPal is a very reliable method of payment, and choosing a PayPal Forex broker would be a wise decision. It is an excellent way to make online payments for a wide variety of reasons. Opening a PayPal account couldn’t be easier, and it’s no wonder it has gained such a huge following. There is a verification process that has to be completed, but the procedure isn’t overly complicated. The service is transparent and there are sensible anti-money-laundering measures in place, making it very safe and secure. PayPal has had to suffer a fair amount of bad press, but still remains one of the leading providers of online payment services. Many of us here at forexbrokersreviews.com use this method on a regular basis, and have on the whole had very favourable experiences.
With so many Forex brokers now accepting PayPal as a payment method, you may find yourself spoilt for choice, which means you get the opportunity to compare other options offered by a broker, and end up with a broker that provides the best all-round service.
