Compare the best brokers to trade forex with PayPal

Many brokers around the world do indeed accept PayPal payments. But it’s important to make sure your PayPal broker of choice ticks other significant boxes.
Updated: Jul 6, 2022
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Looking for good forex brokers to trade currencies with PayPal? Our table below should give you the information you need to settle on a competitive, trustworthy broker that meets your trading needs.

What is a PayPal forex broker? 

A PayPal forex broker is simply a trading platform that allows you to fund your account with PayPal. Many users around the world require different payment methods, with PayPal being one of the most prominent.

What is a ‘contract for difference’?

Forex brokers allow you to trade CFDs (contracts for difference). CFDs are investment derivatives that give you the ability to speculate on the price movement of investment assets – pairs of foreign currencies in this case. You’re betting on how those currencies will move in relation to each other, but you don’t actually own the currencies you’re trading. You only own the contract.

How to deposit and withdraw using PayPal

To make a PayPal deposit into your forex account, simply link your PayPal to your broker’s platform. Since PayPal funnels payments through both bank accounts and credit cards, you can then choose which of those two methods works best for your needs.

All of the brokers we’ve listed above accept PayPal. So when you log in, check the payment options (or funds) section. There, you’ll be able to link your forex trading account to your PayPal account. Some only allow you to deposit or withdraw via PayPal. However, many will accept PayPal for both.

What should I look for when I trading forex with PayPal?

  • Find a regulated platform – In the UK, the Financial Conduct Authority regulates forex trading. Any reputable brokerage site will fall under the FCA’s regulatory jurisdiction. If you’re looking into forex and/or CFD trading elsewhere in the world, verify that the broker you choose also complies with the relevant regulatory bodies.
  • Variety of payment methods – Different brokers will accept different methods of payment. PayPal is now a widely accepted way to fund your brokerage account and choice of payment methods is expanding all the time. For instance, some platforms now accept payments in cryptocurrency. Pick somewhere that allows you to deposit and withdraw funds in a way that works for you.
  • Suitable deposit and withdrawal limits – Different platforms will impose different limits on the amount you’re able to deposit or withdraw at any one time. Pick a broker that suits your needs, whether you’re an experienced high roller, or a cautious beginner.
  • Good reputation – With so many brokers and trading platforms to choose from, the prospect of narrowing down your search and picking the best one can be daunting. The good news is that CFD trading platforms have existed for a while, so many of them have a long enough track record to accrue a sizable number of user reviews. Those user reviews, along with media coverage and awards, should help you to figure out whether or not a platform has a strong reputation and can be trusted.
  • Design and ease of use – Learning how to make money by trading forex already takes work and study. Your trading platform shouldn’t require even more work just to figure out how to use it. Choose a platform that’s intuitively designed and easy to use. Is it easy to open a trade? Do they offer forex signals? Use high leverage? Allow you to automate using forex robots?
  • Variety of currency pairs Seven currency pairs dominate globally forex exchanges. That said, there are approximately 180 different legal fiat currencies around the world. If you’re interested in branching out beyond typical GBP/USD/EUR trades, seek out a broker that can facilitate a wider range of trades.

FAQs

ℹ Should I fund my forex trading account using PayPal?
ℹ Do you need to share your credit card information with your forex broker?
ℹ How does PayPal fund your account?
ℹ How widespread is PayPal usage by forex brokers around the world?
ℹ How much does it cost to fund a PayPal forex account?
ℹ Is it free to use PayPal?
ℹ Are PayPal accounts secure?
ℹ Is PayPal a safe way to fund your forex account?
ℹ Is PayPal a fast way to fund your forex account?
ℹ Any other features I should look for in a broker?
ℹ Where can I find the best Paypal forex brokers?

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Harry Atkins
Financial Writer
Harry was a Financial Writer for Invezz, drawing on more than a decade writing, editing and managing high-profile content for blue chip companies, Harry’s considerable experience… read more.