Best 10 PayPal Forex Brokers for 2019
5 (100%) 5 votes

With the wider acceptance all over the world, PayPal is the most convenient online payment system for brokers and traders. It is among the most notably trustworthy and good-standing financial service company. Money sent through the PayPal account to a brokerage account is quick, low cost and efficient. PayPal charges a small amount for processing these transactions from one account to another.

Traders always give significant importance to the payment methods when it comes to selecting the right broker for forex or stock market trading. PayPal accepts clients from all over the world and it is one of the most trustworthy financial service platforms. Therefore, online brokers prefer to use PayPal for deposits and withdrawals of funds.

Although there are several PayPal brokers available in the market, we have selected 10 best brokers that are providing best trading accounts. Below are the criteria we used for brokers selection.

What Criteria is used for our PayPal Forex Brokers Selection?

Choosing the right broker is not an easy task. Along with flexible payment options, there are several other features that traders should consider before creating an account.  Following are major factors that we used for selecting the best broker for Islamic accounts:

  • Regulation and compliance
  • Payment options
  • Spreads and commissions
  • Trade execution
  • Customer support
  • Educational material
  • Number of instruments
  • Trading platform interface

1. Plus500 - Best for International Clients

Plus500 is a well-liked broker which permits to trade a number of financial markets with reasonably low spreads. This PayPal forex broker provides an extensive range of forex pairs and CFD’s. The platform is registered in the United Kingdom.

Review at Glance
Regulation (UK), CySec (Cyprus), ASIC (Australia), MAS (Singapore), FMA (New Zealand)
Minimum Initial Deposit €100
Demo Account Yes
Asset Coverage Crypto, Indices, Forex, Commodities, Shares, Options, ETFs
Leverage 30:1 Retail Accounts & 300:1 Professional Accounts

 

Besides from forex and CFD’s, traders can trade comprehensive assets including stock indexes, commodities, equities, ETFs, cryptocurrencies, and options. It is also a publicly traded company on the London Stock Exchange with a market capitalization of $2.25 billion.

 Pros & Cons

Pros      

  • Access to 2,000 trading instruments
  • The lowest spreads and commissions in the industry
  • Crypto trading is available
  • Sparse library of educational materials available

Cons:

  • While customers can trade more than 2,000 instruments, there are few tools to use to analyze those instruments
2. Forex.com - Best for US Clients

 

Forex is one of the asset classes that provides the easiest access, this makes it a dangerous class to trade if you are not using a reputable broker to take care of your execution. Keep in mind that in the US Forex is one of the most regulated asset classes, this is in order to prevent wrongdoing that could affect thousands of retail investors interested in the market.

The broad range of brokers offering their services for forex trading has risen in the past decade, making the overall access to the financial markets easier than ever. Keep in mind that due to the exponential growth of the demand for forex and also the offering of services, the US regulators have tightened the requirements for a company to operate under an American License, making any broker regulated in the US the top in their class.

Forex.com is one of the subsidiaries of the primer broker Gain Capital, one of the largest brokers offering commodities trading in the world.

Review at Glance
Regulation US CFTC, UK CFA
Minimum Initial Deposit $50
Demo Account Yes
Asset Coverage Crypto, Indices, Forex, Commodities, Shares, Options, ETFs
Leverage 50:1 (2% margin on all accounts)

It is important to mention that even though the platform utilized by the firm was developed with the key intention of being used for Forex Trading, it also allows other asset classes and markets to be used as well.

An important point to mention is that if you are planning on utilizing an active approach or strategy to the markets, you might want to consider Forex.com as one of your top options. The reason for this is that as traded volume grows, the fees and commissions dramatically fall, making it a cheap and reliable option.

 Pros & Cons

Pros      

  • The platform is powerful enough for most active traders (even HFT’s)
  • The broad range of analysis and research are available for all traders
  • Becomes cheaper as volume grows
  • Best for US Residents

Cons:

  • Max leverage is not available on all pairs
  • Opening an account can be simply too complicated and time-consuming

3. easyMarkets

With the long history in online trading, easyMarkets is one of the leading online CFDs and forex broker. Initially founded in 2001, it has well-established offices in numerous cities around the world. The broker provides their clients with significant access to the international equity and financial markets. It offers a wide range of trading instruments along with other innovative product and services. Its most famous trading instruments include CFDs, the spot forex market, and options.

Review at Glance
Regulated By ASIC, CySEC
Foundation Year 2001
Min. Deposit $ 100
Max. Leverage 1:400
Fixed Spreads Yes
Trading Desk Type Market Maker

In addition, easyMarkets is a reliable broker amid its strong compliance to regulators policies and fair trading rules. It is well regulated from European and Australian regulating agencies. This is why traders all over the world trust easyMarkets trading platform.

The broker offers two major trading platforms to traders. These platforms include a web-based platform and the popular MetaTrader 4 (MT4) platform. The web-based platform is designed to facilitate beginners and new traders while MetaTrader 4 (MT4) platform works best for advanced investors.

The firm has established two types of trading accounts for investors according to their trading requirements. These accounts are a standard trading account and a VIP account. This is a PayPal broker that accepts payments from PayPal and also allows traders to withdraw funds to their PayPal account.

Pros & Cons:

Pros:

  • Choices of the trading platform
  • Established since 2001
  • Innovative deal cancellation trading tool
  • Regulated Broker
  • A wide range of instruments

Cons:

  • Trade simulator only available for 8 days
  • Limited choices of trading account types
4. IG Group

 

Founded in 1974, IG Group is ranked as the world’s best forex and CFD provider. It is a publically traded company and is among the members of a UK FTSE 250 with a market cap of 3.1 ­billion pounds. A large number of trading products along with a lower fee structure makes it a superior broker than its competitors. It also accepts clients from the U.S. Its website is easy-­to-­navigate and well­ organized and discloses all the fees and services.

Review at Glance
Regulation  FCA, ASIC
Account Minimum: $100
Fees Minimum of 0.6 pips for EUR/USD
Best for Forex Trading

 

The broker is regulated by the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investment Commission (ASIC) in Australia. Traders from the UK have default protection up to GBP 50,000 through Financial Services Compensation Scheme (FSCS) but no additional insurance coverage is provided. Site encryption is average.

The company uses a different account for holding client funds. The customers can use its guaranteed stop losses feature for an additional fee, which helps traders to avoid unexpected losses. Its API interface and the industry standard MetaTrader 4 permits advanced traders to expand their trading opportunities.

However, the firm does not offer MetaTrader 5. It is a PayPal forex broker that allows traders to fund accounts through PayPal.

Pros & Cons:

Pros:

  • Industry standard MetaTrader 4
  • stop losses
  • 1000s of markets to trade
  • High-end platforms

Cons:

  • May receive exchange and subscription fees
  • High Dormant account fees
  • Retail clients can’t trade forex on interbank
  • No copy/social trading platform
5. Swissquote Group Holding

Swissquote Group Holding has been providing forex trading services since 1996. It has almost 25 billion Swiss Francs in clients assets under management. It is a London-based broker, which is regulated by the UK Financial Conduct Authority. The broker offers several products for trading. These products include commodities, forex, bonds, and indices to traders based in the European Union.

Review at Glance
Regulation UK Financial Conduct Authority
Account Minimum $1,000
Fees Minimum spreads of 1.7 pips for EUR/USD
Best for Competitive fees plus customer support

 

Swissquote offers strong security features to clients. Client data is protected and it has an encrypted site. There offer two-factor authentications at the current time. Traders can easily search for Swissquote’s pricing structure from the website.

The broker allows the trader to use the platform in three ways. Traders can easily access their trading platform called Advanced Trader. The other two options are known as MetaTrader 4 and 5 (MT4 and MT5). Advanced traders like to use MT4 and MT5 as these two features have more technologically advanced tools. The platform is user-friendly and simple for both beginners and advanced traders.

Pros & Cons:

Pros:

  • Three trading platforms available
  • Advanced desktop and mobile app are easy to set up
  • Daily reports available in multiple languages

Cons:

  • Mobile charts have no technical indicators
  • Desktop watchlists have limited customization
  • Research limited to three products
6. Pepperstone Group

Pepperstone Group is an Australian PayPal forex broker. Over the past eight years, it has built a highly competitive platform that focuses on commodity, forex and index instruments. Traders can use its desktop, web-based and mobile platform along with excellent educational resources, multiple account types and tight spreads.

Review at Glance
Regulations In the UK by the FCA and in Australia by ASIC
Type Market maker
Leverage Ranges from 1:1 to 500:1
Minimum Deposit $200

 

The broker also offers industry-leading MetaTrader 5 plus the industry standard MT 4. Traders can trade 80+ tradable instruments which include cryptocurrencies. Traders can easily create an account with the minimum deposit of AUD $200. It offers leverage as high as 500:1 according to asset type.

It keeps customer funds in a separate account.  This is an additional layer that provides additional security for trader funds.  Active customer support service, strong educational material and user-friendly platform make it a good choice for both beginners and advanced investors. It is PayPal forex broker that accept PayPal as a valid payment method.

Pros & Cons

Pros:

  • Web site well-organized and easy to navigate
  • Cryptocurrency trading
  • Excellent trading guides

Cons

  • Conditional orders lack sophistication
  • No single stock CFD coverage
  • Scattered and hard to find fee disclosures
7. XTB

XTB is one of the most recognized brokers for European traders. It is regulated by U.K. authorities and registered with the Financial Conduct Authority (FCA). There are several assets available for traders to trade on this platform. These assets include commodities, stocks, forex indices, and cryptocurrencies.

Commissions on trades and spreads are according to the industry averages. Traders can trade assets from its MetaTrader 4 and xStation 5 platforms. One can reach the XTB platform both through the desktop and from the mobile application.

Regulations FCA
Type: Market Maker
Leverage: up to 1:200, depending on the asset up to 1:200, depending on the asset
Minimum Deposit: $250 $250
Headquarter: U.K. The U.K.
US Customers No
Other instruments commodities, CFD’s, indices, ETF’s, bonds, stocks

The broker provides 48 currency pairs, 20 indexes over the world, commodities and close to 1,500 global stocks CFDs to traders. The charts, menus, and watchlists make its platform attractive for both beginners and advanced traders. The response time from their customer support is fast. They try to solve traders queries in a professional way.

Pros & Cons:

Pros

  • XTB offers access to more than 3000 trading markets
  • Traders can explore the available markets through searching tools
  • XTB is registered with the FCA in the UK

Cons

  • Guaranteed stop losses are only available on the “basic” account type
  • XTB has no discount for higher trading volumes and has a required initial investment of $250
8. FxPro

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With the track record of executing close to 250 million orders since 2006, FxPro is a popular Spread Betting market and in the CFD broker in the UK. It has received the UK’s most trusted Forex brand award from Global Brands Magazine in 2017.

It accepts clients from more than 170 countries with more than 870,000 active client accounts and Tier 1 capital of €100 million. It is regulated and licensed by the FCA, FSCA, CySEC, DFSA, and SCB.

Review at Glance
Regulations the UK by the FCA, Cyprus by CySEC, UAE by the DFSA, and the Bahamas by SCB
Leverage 1:10 to 1:500 according to the asset type
Minimum Deposit $100
Headquarter London, UK

There are several types of trading tools that traders can use on this platform. It’s trading platforms include MetaTrader 4, cTrader, MetaTrader 5 and FxPro Edge. Its clear pricing structure combined with user-friendly desktop browser enhances trader’s confidence on this platform. Traders can also use several charting features and indicators to expand their profit-making opportunities. It is PayPal broker that accepts deposits from PayPal.

Pros & Cons:

Pros:

  • Real time news
  • Above average product offering
  • Transparent pricing

Cons:

  • Relatively high fees
  • No anonymous demo account
  • Weak educational platform
9. ChoiceTrade

 

Traders who prefer to trade frequently all over the day like to use ChoiceTrade online brokerage platform, which is particularly designed to facilitate active traders. In addition, this platform also suits to investors who are seeking for robo-advisor options.

Review at Glance
Regulation Yes
Account Minimum $100
Fees $5 per month flat fee, with unlimited free trades
Best for Placing more than 5 trades a month

 

New traders can use their free web-based account to experience their analysis and research tools. Their flat $5 per month fee option is one of the best choices for traders who make several trades every day.

It has designed three types of premium platforms for advanced investors. These platforms offer enticing features such as streaming data, access to Level II, additional research tools and data and control over the order execution.

Pros & Cons:

Pros:

  • Free stock and ETF trades with the $5 monthly subscription
  • Multiple platforms for traders of different levels
  • Full range of order types, including conditional orders
  • Customizable user interface

Cons:

  • Real time, not streaming, data for free accounts
  • Trading function and in-depth charting not easily adjacent
  • No bonds, futures, forex, crypto or other assets available
  • Options pricing higher than the industry average
10. Trade.com

Trade.com is founded in 2013 and it is headquartered in Cyprus and licensed by the financial authorities at the Cyprus Securities and Exchange Commission. This broker provides an index, Forex, stocks, cryptocurrency trading options. On the negative side, it does not allow traders from countries like the United States, Japan, and Canada to use this platform.

Review at Glance
Regulation CySE
Account Minimum $100 to $10,000
Fees EUR/USD – as low as 3 pips
Best for Traders outside the US and UK

 

Their fee structure is competitive compared to other platforms. Trade.com permits the trader to virtually execute any order type including limits, stops, advanced conditional orders and market orders through Trade.com’s web and mobile platform.

Pros & Cons:

Pros:

  • Industry standard trading platforms, including MetaTrader 4 (MT4).
  • The wide selection of markets including crypto, stocks, ETF’s, and Forex.
  • 24/7 phone support was readily available and very helpful.

Cons:

  • Registration in Cyprus results in less transparency into brokerage costs.
  • Wide trading spreads increase costs for active investors.
  • Separate trading platform for “live stocks” and ETF trading.

Conclusion

PayPal is widely offered by brokerages among the other payment methods for depositing and withdrawing funds. Several forex and stockbrokers nowadays use the PayPal method amid its easy usage and secure transactions process. Indeed, PayPal has steadily become the best tool to withdraw funds from the broker account or to deposit money into a trading account. It is also among the most low-cost and convenient methods. This is because brokers all over the world prefer to set up the PayPal payment system to facilitate clients.

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FAQ:

What is PayPal?

It is a digital wallet that account holders can use wherever according to requirement. The financial service provider lets users pay any way they want. You just need to create an account and link your credit cards to your PayPal Digital Wallet.

PayPal claims to have more than 254 million active consumer accounts. Their platform is extremely easy to use and set up and one can start sending and receiving money in a very short time. Merchants and customers don’t need to wait more than a few seconds for transaction processing.

Is it Safe and Secure?

PayPal is a reliable financial service provider as it keeps accounts holder’s financial information private. They do not share the client’s data with anyone. On top of that, the platform allows the user to get a refund if the purchase doesn’t reach your destination or doesn’t match the description.

PayPal is enormously clear with its pricing structure and users can easily find the pricing structure through the PayPal website. PayPal keeps all the information about the user’s shopping cart, shipping software, and accounting application. PayPal even offers an mPOS app, called PayPal Here.

PayPal Funding Options?

You can deposit funds into PayPal account in a variety of ways such as credit cards, wire transfer, and other online payment options. Once you have balance in PayPal account, you can spend that balance anywhere that accepts PayPal. You can also transfer funds from PayPal account to bank account. Transfers typically take 1-2 business days. PayPal also offers its own debit card. You can withdraw money using PayPal credit from any ATM.

Is it Easy to Contact with PayPal Customer Support?

PayPal seeks to resolve user’s issues in plenty of easy ways such as email, phone call, and community forums. The community forum is the best place if you want insights and advice from existing users. Its knowledge base expands the user’s self-help resources to resolve their issues. Overall, the user's response is positive about PayPal’s customer support feature.

What are the Benefits of Using PayPal?
  • Easy, Fast and Secure payment options for withdrawal and deposit of funds.
  • One can use PayPal account balances to pay for services and products at almost all online merchants.
  • It is easy to fund a PayPal account. One can fund a PayPal account through bank transfers and credit cards.
  • The account holder can also easily withdraw funds from PayPal account to a credit card or a bank account in a short time.
  • One can fund his trading account through PayPal with a capital that can be as low as $5.
  • PayPal is widely accepted all over the world.
What is PayPal Fee Structure?

Once you know the benefits of using PayPal financial services, the next essential thing to understand is the costs and fees that are attached to the transactions.

PayPal does not charge any fee when you Buy anything in the U.S.  However, they charge a small fee when you buy products from other countries. In addition, when one sells with PayPal, He or She is liable to pay 2.9% + $0.30 per transaction. You can find the complete fee structure associated with PayPal transactions from their website.

Who are PayPal Forex Brokers?

A PayPal forex broker is one who allows traders to use the PayPal method for depositing and withdrawing funds.  These brokers carry out to buy and sell orders of stocks, forex or commodity. The discount brokers industry has been rapidly growing over the past decade due to the emergence of online trading.

Is Trading Safe?

This depends on your knowledge about financial markets and risk management strategies. If you are a beginner, its good to learn trading courses before investing in these risky markets.

What are Forex markets?

The forex market is an over-the-counter (OTC) marketplace which decides the exchange rate for currencies. Forex trading, on the other hand, is the act of speculating about currency price fluctuation in an attempt to make a profit.

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