Forex brokers that accept Paypal deposits are more common than ever now. With benefits like speed, reliability and convenience, PayPal is solidifying itself as One of the most highly-preferred payment methods for Forex traders. In fact, not only is PayPal is becoming more and more popular for Forex payments, and it’s now slowly becoming one of the main things that people are looking for in a Forex broker.
In this guide, we’ll be talking about what the advantages of using PayPal for Forex trading are, in what way it is superior or inferior to other payment methods, and how to make maximum out of PayPal with Forex brokers. In the meantime, check out one of the best Forex brokers on the market below!
Composing and ranking a list from all the Forex brokers that have PayPal as a payment system definitely was not an easy task. Sure, seeing as it’s so popular and highly-demanded, there are tons of brokers out there who accept PayPal, and payment systems are considered one of the key factors for many traders, and rightfully so.
With that being said, there are many other very important things such as the regulation, safety and security, and bonus systems as well. Taking all these things into consideration is very important to ensure that you have an overall positive, safe and enjoyable experience. At the end of the day, while the payment system is a very important detail, it’s ultimately up to you to determine what exactly you’re looking for with a particular broker and make decisions based on that. With that being said, here’s our ultimate PayPal supported Forex brokers list.
Before we talk about what the main advantages and disadvantages of trading Forex with PayPal are, let’s talk about what PayPal actually is, and how it works in the context of being used with a Forex broker.
PayPal is one of the most popular and widely-used payment services in the world. It handles around 200 billion US dollars per year, spread over around 3.5 billion transfers. This makes PayPal one of the largest payment providers in the world. The reason PayPal is so popular among all sorts of users, whether they be regular everyday people or actual businesses, is the combination of affordability, speed, and simplicity. One needs only to attach their email and credit card to their PayPal account, and it’s pretty much ready to go.
A Forex broker with PayPal gains many advantages that, although are available with conventional charging methods, it’s even more pronounced with PayPal. PayPal’s global recognition allows it to enjoy full trust from international banks, which results in a very robust, quick and hassle-free payment system for everybody. This removes a lot of hassle from the payment process, and the chances of your transactions with PayPal going through are increased dramatically. This idea of taking a lot of load from the broker’s shoulders is exactly why PayPal is becoming so attractive for not only the traders, but brokers themselves. It’s a win-win situation through and through.
The main advantage of Forex brokers with PayPal payment is the fact that the payment process, from start to finish, is extremely simplified. PayPal itself is mainly built upon simplicity, and you’ll find that for yourself after you start using it. With many brokers, in cases “regular” types of payment methods, like when using a credit card or a bank wire, the process can sometimes be really stretched and needlessly complicated. Different websites have their own specific approach to the billing processes, so it’s not uncommon to meet some unpleasant “surprises” when making a payment on different websites
In contrast, by going with a broker that accepts PayPal payments, you know right off the bat that you can expect a payment system that is easy, straight to the point, and won’t have any unnecessary steps that would make it a hassle for you. There’s absolutely no reason for you to needlessly complicate things for yourself by using inconvenient payment methods. If you’re in it for the long run, making everything as simple as possible can make-or-break your whole Forex experience. Plus, the added advantage is that in case you need something done about the transaction, you can communicate directly with PayPal and your broker, as opposed to having to involve your bank, which most of us probably hate doing.
One of the main advantages of brokers offering PayPal, and just PayPal in general, is its safety. PayPal is one of the best-built payment systems in the world, and it has proven itself time-and-time again. When you use a website’s service but submit the payment via PayPal, you’re using PayPal’s secure system, where all of your information is kept safe and sound with a top-notch encryption system.
Sure, with the advancements in software development and security, even without something like PayPal. they still have an opportunity to have a safe and reliable payment system of their own too, but how many of those companies make their best effort for that, is a whole different subject. With PayPal payment system for Forex brokers, you’re essentially guaranteed the security of the software.
If there was only one selling point that we could discuss for PayPal, it would be the security. More specifically, the security that you have from scammers. All the transactions with PayPal give you a 100% money-back guarantee in case you don’t get the goods or services promised by the merchant. In fact, PayPal is known to be one of the most customer-centered payment providers, to the point of sometimes being accused of being unreasonable in relation to the merchants.
In fact, in recent years, it got so out of hand, that a lot of customers were filing false disputes and chargebacks because PayPal was so lenient towards customers. Though not ideal for both sides objectively, it does give you, the customer, a sense of safety that you can’t get anywhere else when using Forex brokers using PayPal
Forex aside, if you at any ever feel that you were given a short end of the stick from any company, if you have a compelling case, having paid with PayPal gives you full security. All it takes is to open a ticket, and you will get your money back in the absolute majority of the cases. This all means, that if safety is one of your primary concerns, then you really can’t go wrong with PayPal when dealing with a Forex broker. Check out one of the best all-around brokers with PayPal below.
One of the main points where you can really appreciate the full advantage of using a PayPal account to deposit with a Forex broker is its total lack of transaction fees. It’s not uncommon to see a lot of Forex brokers that would charge a small (And sometimes, not so small) transactional fee. This is more common when an investor signs up for an overseas brokerage that uses a specific type of charging descriptor.
Luckily, this doesn’t happen as often as though to be a huge nuisance for traders, as with the number of positions that some traders open every day, and because of a large number of transactions they process with their account due to that, the fees would rack up an enormous amount. With a PayPal-supporting broker, you can be sure that this won’t be an issue.
Another great thing about Paypal accepting Forex brokers is that you can enjoy PayPal’s almost instantaneous payments. If you check out a lot of different brokers, you’ll find, that a very common complaint that a lot of people have is that payment can sometimes be stretched for ages. There are usually a lot of underlying reasons for that, such as regulatory conditions, billing specifics, etc, all of which are beyond the scope of this discussion.
Whatever the reasons may be, these issues are common, and they can be quite inconveniencing if you’re set on getting started as soon as possible. Because of this, in situations like that, using your PayPal account to top up with a Forex broker can be an absolute lifesaver.
The thing is, using payment methods that can sometimes take a very long time to be completed can really mess up your plans, as timing is one of the most crucial aspects of being successful with Forex. With how fast everything can happen on the Forex market, every second counts, and you can’t afford to lose time waiting for the money to be credited. Payment aside, withdrawals also can take very long, depending on the billing method itself, and with PayPal, you rarely, if ever, have to worry about this issue, as you’ll have your money on your account in mere seconds.
With all the advantages that we listed, it may seem that there’s no reason for all the brokers not to offer PayPal, so a logical question that many may ask is if PayPal is so amazing, then why is it that many Forex brokers don’t accept PayPal at all? There’s no one-sentence answer to that question, as it depends on many different factors. Sometimes it’s up to the broker itself, and it’s their own decision to not have PayPal on their website, while in other cases, they may want to accept PayPal, but simply aren’t able to.
What would be the main reasons for there not being many more Forex brokers accepting PayPal? They may be numerous. For one, it can sometimes be a time-stretched and complicated endeavor in relation to the company’s billing policies that are in place. Setting up a PayPal account to accept the money with can be a very easy and quick process for a small online shop, but quite a complicated affair for a Forex broker.
Due to the international laws and regulations, it isn’t as easy as just signing up for a PayPal account. When it comes to billing, small and seemingly insignificant changes may require a lot of paperwork and legal permission before being implemented. The reason for this, again, is the laws and regulations that are in place for the traders’ protection.
On the other end of the spectrum, though quite unfortunate, some companies deliberately refrain from installing PayPal as one of their payment methods. The thing is, though using PayPal with Forex brokers is very convenient for the traders and customers, sometimes the hassle isn’t worth it for the companies due to the reasons mentioned above. Plus, some companies take advantage of the long and stretched-out timeframes for withdrawals. It’s not uncommon for some payment methods to take over a week, or even two weeks sometimes, when with Forex brokers PayPal withdrawal, it’s almost instant. The speed aspect itself is one of the main reasons as to why it’s so popular right now.
Though in our opinion there’s no reason for a broker not to offer PayPal payments due to their advantages, it’s not as though if they don’t offer it, that it should be a cause for concern. As stated, it’s not always that easy to facilitate PayPal payments, and the reasons for that can be numerous. The bottom line is, it’s a great payment method, and if your broker offers it, it can be of great value to you. However, there are hundreds of amazing brokers online that can be better than any Forex broker with PayPal deposit. Deposits and withdrawals are very important, but other aspects can be equally as important too, like licensing and regulation, promotional offers, customer service, and many more. Therefore, you should always weigh out these important details and come to your own conclusion as to which one is the best for you.
PayPal makes everything much easier, quicker, secure, and less “awkward” for both parties. It’s really one of the things that makes the sometimes-technical and complicated process of getting started with trading just that much easier. Everyone has a PayPal account, so when a Forex broker accepts PayPal, everything is just made much more straightforward and manageable for traders. It’s precisely because of this that so many companies are now making an effort to implement PayPal in their payment systems, and it’s working wonderfully.
If you want to get started with trading, and want to do it as soon as possible while eliminating most of the hassle that comes with it and make it straightforward, you can’t go wrong with using PayPal with Forex brokers! Click the link below to check out one of the top PayPal-accepting Forex brokers on the market.