PayPal, as an electronic payment system, has a worldwide reignition and is used by many users for various financial purposes. It is the security of this platform that has turned it into a virtual wallet for a multitude of online transactions among its users. Ever since its establishment in 1998, PayPal has facilitated millions upon millions of financial transactions for individuals and businesses alike across the world.

Forex brokers allow their clients to use various payment methods for convenience and one of these methods is PayPal. Using PayPal, traders can be certain no hiccups will hinder their trading transactions due to its relatively straightforward deposit and withdrawal processes. So, when you are choosing your forex broker, make sure to check whether they offer a beneficial payment option such as PayPal for your trading pleasure.

To open a PayPal account, simply head to the official website, decide which currency you prefer, provide the necessary personal data, and connect your Credit/Debit Card or Bank Account for verification, et Voila!

Using the PayPal platform, you’d be provided with 2 options for your payments, it could either be your Credit Card/Debit Card/Bank Account or you can use PayPal’s very own Balance system. To top up your PayPal account’s balance, you can simply use the aforementioned methods, i.e., Cards / Bank Account or simply have other PayPal users send you some funds.

Paypal Forex Deposit Brokers

FP Markets

FPMarkets, a renowned forex broker in the FX industry, enables its clients to use PayPal for their transactions (deposits & withdrawals) among other payment methods. Using PayPal at FPMarkets, traders can conveniently choose between USD, AUD, CAD, EUR, GBP, HKD, JPY, and SGD currencies. Depending on the chosen trading platform, you can expect to process your deposits via PayPal either instantly (for MT4/MT5) or within 1 business day (for IRESS). However, all of your withdrawals will be processed in 1 business day regardless of your trading platform. It should be noted that FPMarkets’ clients are not required to pay any fees for their transactions via PayPal. However, the PayPal system itself may charge you a certain amount of fee.

FPMarkets was founded in 2005 and is currently under the supervision of the ASIC, CySEC, and ESMA regulatory authorities. Choosing to trade with FPMarkets Forex broker will give you access to trading instruments, including more than 60 forex currency pairs, Shares, Indices, Commodities, Bonds, as well as Precious Metals with leverage of up to 1:30. In addition, by simply making a $100 deposit, FPMarkets’ clients can trade with very low spreads from 0 pips on multiple trading platforms (MT4, MT5, & IRESS) with either very low or no commission at all.

Deposit and Withdrawal via Bank Wire, Credit Cards, Skrill, Neteller, PerfectMoney, Bitcoin, Tether, Paypal

Licenses: ASIC, CySEC, FSCA, FSA
Country: Australia
Year Founded: 2005

Open FP Markets Account

FP Markets Broker Review

Advantages of using PayPal for your Forex Deposits and Withdrawals:

As previously mentioned, brokers offer an assortment of payment options to their clients for convenience. In the following list of factors, we will try to help you decide why PayPal could be a better choice for your trading journey in the long run:

1. Worldwide Availability

PayPal is a reliable payment method with a great many users from more than 200 countries across the world. The only thing you need to access your PayPal account is an internet connection with no interruptions. Please bear in mind that certain countries are not allowed to use PayPal payment due to sanctions and restrictions, so you should check to see whether your country falls under the same category.

2. Accepting Different Currencies

PayPal users can use any of the 25 supported currencies, including USD, EUR, GBP, and JPY as their base currency. This feature could come in handy, especially for forex traders who deal with different currencies due to the nature of the FX Market. Furthermore, the PayPal payment settings enable you to add, edit, or simply close your selected currencies at any time.

3. Fast, Reliable, & User-Friendly Interface

PayPal transactions are processed reasonably quickly with no problems, and if you need to double-check, you can do so via your account. The processes of your PayPal transactions are hassle-free, easy, and fast, which is not to say that every broker will transfer your money to your PayPal account immediately. To know their processing time and fees regarding your PayPal transactions, you should pay a visit to your broker’s website.

4. Highly Secure Transactions

The reason why PayPal transactions are highly secure is because there is no direct access to your source of funds. Simply put PayPal acts as an intermediary between you and your bank. For the security of your PayPal account, the name of your bank account should be the same as your PayPal account’s, otherwise, your payments will be returned, minus a fee. You can also choose to use the 2-step verification process for an extra layer of security in your account.

5. PayPal can be linked to Several Bank Accounts & Cards

PayPal allows you to connect and link a handful of your bank accounts and cards, however, every account that you wish to link should be in your name. This option will give you more flexibility when you want to do your transactions according to your trading needs and preferences.

Paypal Forex Brokers

Paypal Forex Deposit Brokers

Advantages of using PayPal for your Forex Deposits and Withdrawals: