How do you usually deposit your trading accounts? Do you use bank transfers or online payment services? Most traders will choose the second option as it is cheaper, faster, and much more comfortable. And the most popular online wallet service is PayPal. The problem is that not all brokers support transfers via this payment system. But, for your convenience, we have found the ones that readily accept such transactions.
As of now, PayPal is used by about 400 million people, and traders constitute a significant part of its user base. So, no need to miss an opportunity to make your trading routine easier.
Still, before we name the platforms included in our top list of PayPal Forex brokers, we must mention other choice factors you should take into consideration:
· License. A broker service must be regulated in your country of residence.
· Security. For the sake of safety, you may be demanded to pass verification procedures and provide a photo of your ID. Also, the service may offer such security features as two-factor authentication, linking your wallet or bank account, etc.
· Available assets. Experienced traders claim that portfolio diversification is one of the keys to success. So, choose the source offering a full range of products.
· Minimum deposit requirements. Make sure you can easily afford to open an account on the source chosen.
· Fees. Keep in mind that there can also be non-trading commissions.
· Passive income instruments. For example, copy trading is a perfect method for beginners who want to learn from professionals.
· Research tools. Make sure the broker offers its own analytics, graphs, news, analyses.
· Educational content. You will feel more confident when you have guides at hand.
· Other payment methods (just against every eventuality).
Now, here are the online brokerage services that offer the best terms for PayPal users: Admiral Markets, eToro, FxPro, AvaTrade, Oanda, IC Markets, HYCM, Markets.com, IG, Plus500, Vantage FX, IG, FP Markets. Almost all of them offer deposits and withdrawals via PayPal absolutely for free. But, in some cases, there are commissions on withdrawals. Also, in the case of these services, you do not need to worry about reliability or safety risks.
In conclusion, if you feel comfortable when using PayPal for your transactions, no need to switch to another payment method. Luckily, today, most online brokers support the use of this service. We recommend you start your search from the top list provided above.