When choosing a forex broker, one of the first considerations is the method of deposits and withdrawal. PayPal ranks amongst one of the most outstanding choices in this regard. PayPal is an American-based online payments business founded in December 1998.
It is very familiar with a host of online vendors and auction sites. Aside from the service’s immense popularity for online money transfers in most countries globally, it is also known for the ‘PayPal Mafia.’
This term refers to a group of its former founders and employees, who all went on to create some of the most world-renowned companies like Tesla, SpaceX, YouTube, Yelp, and LinkedIn.
As forex brokers are financial institutions, it’s no surprise why PayPal has also partnered with these organizations. This article will be a deep dive into the best forex brokers that accept PayPal, along with other considerations when using PayPal.
6 Best Forex Brokers That Accept PayPal
|Broker||Founded||HQ||Regulations||Platforms||Markets||Deposit from||Leverage up to||Website|
|2015||–||Depends on the chosen broker||TechBerry||Any instrument available on MetaTrader||$5000||Varies||visit|
|2006||Israel||FCA, ASIC, CySEC, FinCEN||eToro||Forex, Commodities, Stocks, Crypto, ETFs, Indices||$200||1:30||visit|
|2008||Israel||FCA, CySEC, ASIC, MAS||Plus500||Forex, Indices, Commodities, Crypto, Stocks, ETFs, Options||$100||1:300||visit|
|1974||UK||CFTC, NFA, FCA, FINMA||MT4, IG||Forex, Indices, Commodities, Stocks, Options, Bonds, ETFs||$0||1:50||visit|
|1995||USA||CFTC, NFA, IIROC, FCA, ASIC, MAS||MT4, Oanda Trade||Forex, Indices, Commodities, Bonds, Metals||$0||1:50||visit|
|2010||Australia||ASIC, FCA, DFSA, CySEC, BaFin, SCB, CMA||MT4, MT5, cTrader, TradingView||CFDs (Forex, Indices, Commodities, Crypto, ETFs, Shares)||$200||1:30||visit|
Let’s first dive into a bit about forex brokers that accept PayPal.
What is a PayPal forex broker?
A forex broker is a financial institution connecting customers to trading foreign currencies through an electronic platform. The traders in foreign exchange mainly include retail or simply non-professional speculators, along with wealthier individuals in large financial firms.
Clients need to deposit a certain minimum deposit according to the broker for the eligibility of buying and selling in the forex markets. Typically, such groups will allow funding through VISA/Mastercard credit and debit cards.
They will also permit deposits through other e-wallet options, of which can sometimes be PayPal.
Aside from being a popular facility to use for online money transfers in other things, forex brokers that accept PayPal offer the service for its simplicity, quick clearing times, coverage in most international currencies, number of convertible currencies, and other benefits.
What are the best PayPal forex brokers?
Now that we’ve covered some concrete reasons over why PayPal is excellent as a payment option, let’s dive into the specific forex brokers that accept PayPal. Many of the brokers below have been around in the forex industry for at least ten years or more, making them highly recognized and credible.
TechBerry: the best automated social trading platform
TechBerry is among the finest social trading platforms, established in 2015. It is dominating the forex market by using extremely efficient AI to collect and analyze data from over 100,000 trading accounts to generate a custom trading strategy.
FIDC banks provide insurance for funds making it a reliable platform with support for over 50 forex brokers. Individuals can share their trading data and earn a decent amount each month.
TechBerry averages 11% monthly performance, which can be verified from the trading records available on its website It covers your losses with one of a kind reimbursement policy starting from 50% all the way up to 100%.
TechBerry supports more than 50 regulated brokers. All of these are governed by top authorities such as:
- FCA, United Kingdom
- CySEC, Cyprus
- FMA, New Zealand
- FSCA, South Africa
- CFTC (Commodity Futures Trading Commission), USA
- FINMA (Financial Market Supervisory Authority), Switzerland
- DFSA (Dubai Financial Services Authority)
Key points of the broker
- Leading platform with an average 10% plus monthly gain.
- No restrictions on any country
- Losses are not a concern because the service covers them with up to 100% reimbursement.
- Partner with over 50 regulated brokers.
- Detailed live records.
- Low service fee.
Real-time trade monitoring
TechBerry offers real-time trade monitoring with detailed stats since 2015. Here you can calculate daily, weekly and monthly gains.
Subscribers need to deposit at least $5000 to trade with the platform.
TechBerry monitors over 100k accounts to determine the most profitable strategy, which is then implemented with extreme precision.
TechBerry deducts commissions only after producing profits on your funds. The service fee decreases with pricing plans accordingly and can be as low as 15%.
eToro: top CFD broker that accepts PayPal
eToro is an Israeli-based multi-CFD asset broker that began operating in 2007. While it’s a supremely capable brokerage in providing access to the world’s most popular traded markets, eToro has made a name in the copy trading niche.
Hence, it describes itself as ‘the world’s leading social trading and investing platform.’ Overall, eToro seeks to offer the best of both worlds in active and non-active trading with an extensive selection of accounts, a decent amount of funding alternatives, and 24/5 multi-lingual support.
The broker is licensed by several prominent regulatory bodies, namely CySEC (Cyprus Securities and Exchange Commission), FCA in the UK (Financial Conduct Authority), and ASIC (Australian Securities and Investments Commission).
It is also registered as a ‘money services business’ with FinCEN (Financial Crimes Enforcement Network) in America.
Key points of the broker
- One of the most recognized social trading platforms in the world
- 14 years experience
- US clients can trade with the broker (but only if living in the States)
- Fee-free deposits and no commissions
Aside from providing access to hundreds of instruments in crypto, commodities, ETFs, indices, and equities, traders can speculate in 49 currencies, including all the familiar major and minor pairs.
First-time deposits, depending on a client’s country of residence, range from $50 or $200 to $1000 via credit/debit card and PayPal. Subsequent deposits start from $50; bank wire transfers must be at least $500 in the initial stage.
Sadly, eToro is one of the few not offering MetaTrader 4. Instead, the broker provides its web and mobile-based proprietary trading platform.
For actual trading, eToro only levies spread and swaps with no extra commissions. Withdrawal, conversion, and inactivity fees all apply.
Plus500: the world’s largest PayPal forex broker
Plus500 is another prominent, multi-regulated CFD broker that originates from Israel. Formed in 2008, Plus 500 is now a publicly-traded entity on the London Stock Exchange. The brand currently has headquarters in Australia, along with additional offices in Israel, London, Cyprus, Singapore, Seychelles, and Bulgaria.
Billing itself as ‘the world’s trading machine,’ customers have the luxury of trading thousands of derivatives, including an extensive range of currencies. Traders can enjoy these markets with reasonable spreads, zero commissions, speedy execution, and 24/7 customer support.
Plus500 is regulated by various bodies, namely ASIC in Australia, FCA in the United Kingdom, CySEC in Cyprus, FMA (Financial Markets Authority) in New Zealand, FSCA (Financial Services Conduct Authority) in South Africa, SFS (Seychelles Financial Services), and the Monetary Authority of Singapore.
Key points of the broker
- Provides guaranteed stop loss orders (at additional cost)
- Wide range of base account currencies available
- Many accessible payment alternatives
- No commissions
Plus500 provides over 70 currencies. Moreover, customers can also speculate in shares, commodities, cryptocurrencies, indices, and options, bringing the total to just over 2000 individual markets.
Across all of the broker’s payment selections, which include debit/credit card, PayPal, Skrill, iDEAL, and bank wire, the minimum deposit is $100.
Plus500 only offers its proprietary trading platform available in web and mobile versions.
The broker clarifies it doesn’t charge any commissions for the actual trading, aside from the spread and swaps. Deposits and withdrawals are also exempt from fees, though external payment processors might levy their own.
Charges do apply for inactivity, currency conversion, and guaranteed stop loss orders.
IG: PayPal broker with more than 45 years of experience
IG is one of the oldest CFD brokers globally, with roots stretching back to 1974. Founded initially as Investors Gold Index, IG has gone to dominate the world of derivatives both in spot trading and spread betting.
IG has been a listed company on the London Stock Exchange since the turn of the millennium and is also part of the FTSE 250.
It comes as no surprise the broker provides access to thousands of derivatives tradeable on industry-leading platforms with competitive pricing, favorable trading conditions, and plenty of payment options.
IG is licensed by quite a number of regulators, which include:
- ASIC in Australia,
- FCA in the United Kingdom
- CySEC in Cyprus
- FMA in New Zealand
- FSCA in South Africa
- CFTC (Commodity Futures Trading Commission) in America
- FINMA (Financial Market Supervisory Authority) in Switzerland
- Monetary Authority of Singapore
- DFSA (Dubai Financial Services Authority)
- JFSA (JFSA (Financial Services Agency)
Key points of the broker
- 47 years experience
- Accepts US clients
- Large selection of forex pairs accessible
- Simplified account structure
- Detailed educational content provided by DailyFX
IG offers well over 70 forex pairs, along with instruments in cryptocurrencies, stocks, futures, indices, options, and commodities.
Traders have to fund a minimum of $250 through VISA/Mastercard credit/debit card, PayPal, or bank wire.
IG offers the industry-standard MetaTrader 4 trading software and its proprietary charting package called ProRealTime, designed for automated strategies.
As usual, IG primarily charges spreads and swaps, along with fees for inactivity (after two years), currency conversion, and guaranteed stop loss orders. Deposits and withdrawals are free of charge, though payment providers could levy their fees.
OANDA: great to invest in forex with PayPal
OANDA is another old player in the game, first established in 1996. The broker was one of the first to freely share exchange rate data in the burgeoning internet age a year later.
Over the years, OANDA made history with several technological advancements, venture capital investments, acquisitions, and global expansion. OANDA is a highly regarded name in online trading for a variety of financial markets with regulatory licenses from numerous bodies.
The broker’s pricing is competitive and offers a familiar trading platform with brilliant execution, responsive customer service, and many options of funding and getting paid.
A multi-licensed brokerage, OANDA is regulated by the FCA in the United Kingdom, ASIC in Australia, CFTC in the United States, the Monetary Authority of Singapore, and the IIROC (Investment Industry Regulatory Organization of Canada).
Key points of the broker
- 25 years experience
- Availability to US clients
- Has offices in 9 cities across the globe
- In-depth market insights with MarketPulse
- Huge selection of forex markets
- Provides order book tool for viewing client positions
- No minimum deposit to start trading
Along with a massive offering of 70 forex pairs, users can also speculate in stock indices, metals, commodities, Bitcoin, and bonds.
There is no minimum funding amount with OANDA. The broker’s payment options include VISA/Mastercard credit/debit card, SWIFT, PayPal, Skrill, and Neteller.
OANDA provides the popular MT4 trading platform available in desktop, mobile, and web formats.
In the spirit of transparency, clients can choose to have spreads on the standard account or fixed commissions on the lower spread option. Swaps are applicable (with the exception of the swap-free accounts).
OANDA doesn’t levy deposit and withdrawal fees, though charges might apply with the respective payment processors. An inactivity fee applies monthly after a year of no trading activity.
Pepperstone: zero spread Paypal forex broker
Pepperstone is one of the leading Australian-based derivatives brokers. The firm handles, on average, over $9 billion in trading volume, activity which is amongst the highest in the world.
Established in 2010, Pepperstone was created to improve upon the execution, trading costs, and customer service, which were not conducive for traders. These are all areas Pepperstone now excels in.
The brokers cater fairly to more than 55 000 retail and institutional clients with the latest trading technology, consistently fast execution, beneficial trading conditions, and quick deposits and withdrawals.
Pepperstone now has additional offices in The Bahamas, Cyprus, London, Germany, Kenya, Dubai,.
Pepperstone is regulated and licensed by the FCA in the UK, ASIC in Australia, and the DFSA in Dubai, CySEC in Cyprus, BaFin in Germany, SCB The Bahamas, CMA in Kenya.
Key points of the broker
- Has been operating since 2010 with multiple regulatory licenses
- Offers over 60 currency pairs
- Wide range of funding choices
- Offers zero spread account
- Has social trading platforms
Traders can indulge in just over 60 forex pairs, along with hundreds of the most prominent markets in indices, shares, cryptocurrencies, metals, and commodities (all CFDs).
Across all of the broker’s payment options, which include 9 VISA/Mastercard, POLi, bank wire, BPAY, PayPal, Neteller, Skrill, and UnionPay, the minimum deposit is AU$200.
For active trading, MetaTrader 4, MetaTrader 5, cTrader, and TradingView are the charting packages clients can use with Pepperstone, available in all known formats. For social trading, Pepperstone has partnered with Myfxbook, MetaTrader Signals, and DupliTrade.
As expected, spreads apply on Pepperstone’s standard accounts, while commissions are levied on their ‘razor’ or zero spread account. Swaps are applicable regardless of the package. While Pepperstone doesn’t apply deposit and withdrawal charges, the payment processors may still levy their own.
Why use a forex broker that accepts PayPal?
Below are the main reasons why someone would want to choose forex brokers that accept PayPal.
PayPal is an instant payment system
Nowadays, online money services are expected to have instant clearing times; PayPal is no exception. Provided all is good, a forex PayPal transfer into someone’s trading account takes no more than a few minutes to clear.
The speed of confirmation is crucial in the fast-paced Forex markets for traders to start executing immediately.
One of the benefits of using an online payment service is that no financial details like card and bank account numbers are revealed to the receiving party. Furthermore, PayPal’s site uses standard end-to-end encryption, which is responsible for making transactional data private.
Also, depending on where one lives, some PayPal clients can use an additional authorization feature via a text message or email with a temporary password before making a payment.
Deposit or withdrawal fees are very low or non-existent
PayPal charges anywhere from 4% to 12% of the amount for every deposit or withdrawal, depending on the broker in question. This applies to any resident worldwide. It’s generally recommended for users to always fund or withdraw in the same currency as their broker to avoid additional conversion fees.
As expected, PayPal offers several channels for its customer service. Aside from an in-depth help center and an online community forum where the majority of queries are answered, users can go through PayPal’s resolution center or give them a phone call.
How to choose a forex broker that accepts PayPal
While the best PayPal forex brokers are credible, potential customers should still perform thorough comparisons. The first thing traders observe when choosing a broker is their regulator, specifically if the organization is appropriately licensed and that the supervising body is recognized in the industry.
Any particular policies within the country from a specific regulator should also be noted. The next step is looking at the available platforms. The vast majority of participants are familiar with MT4 and so often prefer forex PayPal brokers providing this charting package.
Other trading conditions worth noting are competitive spreads or commissions, zero or low fees for deposits and withdrawals, and overall no or minimal charges in anything else. The range of markets offered by the provider is also crucial, specifically with currency pairs.
However, a reasonable number of non-forex instruments is also beneficial for future diversification. Finally, due to the importance of customer service, responsive live chat is necessary for ensuring most queries are dealt with quickly.
Of course, telephonic, email, and even instant messaging support should be included for forex brokers that accept PayPal. Some possible restrictions traders should be aware of are whether PayPal serves their country and whether they can do both deposits and withdrawals without hassles.
Conclusion: which is the best forex broker that accepts PayPal?
Based on the critical factors to observe when choosing a provider, all the best PayPal forex brokers listed here do tick most of the boxes: experience, regulation, range of markets, platforms, low fees overall, trading conditions, customer support.
eToro and Plus500 may not be suitable for newer traders since they do not offer the MT4 platform, which is particularly easier for beginners. Also, both brokers explicitly prohibit hedging and scalping strategies.
Other than these restrictions, the better choice might come down to IG, OANDA, or Pepperstone, who don’t prohibit any trading strategies and offer the MT4 trading software to their clients.
FAQ: brokers that accept PayPal
Which is the best forex broker that accepts PayPal for beginners?
OANDA may be a better alternative for beginners as it does not have a minimum deposit amount. A second possible option would be Plus500 who only require $100, which is a fairly reasonable amount compared to the rest.
A beginner trader typically starts with less capital in live trading before building up their accounts over time. Hence, these two choices are suitable.
Why is it better to trade with a forex broker that accepts PayPal?
PayPal is one of the globally recognized leaders in online money transactions. Clearing times between PayPal to PayPal are within minutes. The brand prioritizes safety through encryption and optional authorization features, which conceal any bank or card number information to receivers.
The fees with PayPal are in accordance with most e-wallet services. PayPal’s customer service is far-reaching with a comprehensive community help forum, internal resolution centre, and telephone line.
Which forex trading broker offers free training courses?
Except for Plus500, all the best PayPal forex brokers mentioned have some form of educational training either through webinars, written form, podcasts, or video.
Are there forex brokers with PayPal that allow trading robots?
Yes, except for eToro and Plus500, all the other brokers on the list do permit trading with robots.