PayPal is a fast, secure way to make deposits and withdrawals from a forex trading account, However, it’s not always easy to find forex brokers using PayPal. In this roundup, we’ve researched the top 8 PayPal forex brokers, while highlighting the pros and cons of each.
When choosing forex brokers that accept PayPal, there are other important factors besides payment methods to keep in mind. When researching and reviewing each broker, we carefully looked at a set of seven criteria. These include regulation, fees, trading platforms, the range of instruments, customer support, deposit and withdrawal methods, and educational resources.
Let’s take a look at the top PayPal forex brokers and how these brokers compare.
Unlimited demo account: Both new and experienced traders can access the different HYCM demo accounts across the broker’s platform for as long as they like. This will help new players become better skilled and experienced players more familiar with the various trading environments on the platform.
Supports multiple languages: Another HYCM bonus is its earned regulatory approval in 140 countries. This strongly indicates the broker’s versatility. Depending on the traders’ nationality, anyone can enjoy full access to the trading platform in their preferred language.
Long-standing reputation: With over 40 years in the financial industry, HYMC stands tall as an industry leader that has stood the test of time. Its financial services have also improved over the years to increase the platform’s functionality and create an enjoyable trading experience.
Cons
Customer support is unavailable during weekends: Since the broker offers financial services for some trading instruments that operate 24/7, customer support must be available round the clock. However, HYMC’s customer support services across all platforms are only available on weekdays. This means traders have to wait till weekdays to access customer support if the need arises on weekends.
Unlimited demo account: Both new and experienced traders can access the different HYCM demo accounts across the broker’s platform for as long as they like. This will help new players become better skilled and experienced players more familiar with the various trading environments on the platform.
Supports multiple languages: Another HYCM bonus is its earned regulatory approval in 140 countries. This strongly indicates the broker’s versatility. Depending on the traders’ nationality, anyone can enjoy full access to the trading platform in their preferred language.
Long-standing reputation: With over 40 years in the financial industry, HYMC stands tall as an industry leader that has stood the test of time. Its financial services have also improved over the years to increase the platform’s functionality and create an enjoyable trading experience.
Cons
Customer support is unavailable during weekends: Since the broker offers financial services for some trading instruments that operate 24/7, customer support must be available round the clock. However, HYMC’s customer support services across all platforms are only available on weekdays. This means traders have to wait till weekdays to access customer support if the need arises on weekends.
Thorough Regulation and License: markets.com is licensed and regulated by 5 reputable watchdogs. This further strengthens the broker’s credibility as a financial service provider.
Markets.com is not your regular broker, with its blend and IPO offerings. These additional offerings put the broker in a league of its own.
Sleek Proprietary Trading Platform: Besides its MT4 and MT5 trading platforms, the broker has its own customized trading platforms, which excel in every regard as the more popular trading platforms.
Cons
Inactivity Charges: Traders must pay a fee of $10 per month after 90 days of no trading inactivity on markets.com.
No Customer Support Service on Weekends: Since trading is 24/7, it’s only ideal that the customer support service is also available 24/7 so clients can resolve their complaints quickly.
Thorough Regulation and License: markets.com is licensed and regulated by 5 reputable watchdogs. This further strengthens the broker’s credibility as a financial service provider.
Markets.com is not your regular broker, with its blend and IPO offerings. These additional offerings put the broker in a league of its own.
Sleek Proprietary Trading Platform: Besides its MT4 and MT5 trading platforms, the broker has its own customized trading platforms, which excel in every regard as the more popular trading platforms.
Cons
Inactivity Charges: Traders must pay a fee of $10 per month after 90 days of no trading inactivity on markets.com.
No Customer Support Service on Weekends: Since trading is 24/7, it’s only ideal that the customer support service is also available 24/7 so clients can resolve their complaints quickly.
eToro: Best Known for Social Trading and CopyTrader Feature. High rating of 4.5/5.
Pepperstone: Known for fast account opening and comprehensive educational materials. Rating 4.6/5.
AvaTrade: Best Known for Comprehensive Platform Support and High Leverage. Rating 4.4/5.
XM: Best Known for Comprehensive Educational Resources and Range of Instruments. Rating 4.3/5.
Vantage FX: Best Known for Competitive Pricing and Extensive Platform Support. Rating 4.5/5.
Libertex: Best Known for Commission-Free Trading and Easy-to-Use Platform. Rating 4.2/5.
IC Markets: Excels in low forex fees and multiple trading platforms. Rating 4.7/5.
FP Markets: Best Known for Low Fees and Great Educational Tools. Rating 4.4/5.
Comparison Table
Broker
Best Known For
Fees
Rating
Platforms
eToro
Social trading and CopyTrader feature
Medium
4.5/5
Proprietary
Pepperstone
Fast account opening and excellent educational materials
Low
4.6/5
MetaTrader 4/5, cTrader
AvaTrade
Comprehensive platform support and high leverage
Medium
4.4/5
MetaTrader 4/5, AvaTradeGO, WebTrader
XM
Comprehensive educational resources and a wide range of instruments
Low
4.3/5
MetaTrader 4/5
Vantage FX
Competitive pricing and extensive platform support
Low
4.5/5
MetaTrader 4/5, ZuluTrade, MyFXBook
Libertex
Commission-free trading and easy-to-use platform
Low
4.2/5
Proprietary, MetaTrader 4/5
IC Markets
Low forex fees and multiple trading platforms
Low
4.7/5
MetaTrader 4/5, cTrader
FP Markets
Low fees and great educational tools
Low
4.4/5
MetaTrader 4/5, IRESS
Forex.com US
Wide range of currency pairs and diverse technical research tools
Low
4.3/5
MetaTrader 4/5, WebTrader
Criteria Breakdown Summary
With each forex broker, we looked at the following criteria. With each review, we assessed the broker from a non-biased perspective to see how they perform.
Regulation
Regulation is one of the most important factors when considering PayPal forex brokers. Regulation by top-tier authorities ensures a safe, transparent trading environment. Examples of top-tier regulating authorities include FCA, ASIC, and CySEC.
Fees and Costs
The fees and costs associated with each forex broker can be vastly different. Trading fees, including spreads and commissions, deposit & withdrawal fees, inactivity fees, and other charges can impact overall profitability.
Trading Platforms
Whether it’s for novice traders or someone with years of experience in forex trading, user-friendly platforms with advanced features are essential. MetaTrader is a gold standard in forex trading, but proprietary platforms can also offer great tools and usability.
Range of Instruments
A forex broker that also offers a range of instruments is important for investors looking to diversify a portfolio. Consider tradable instruments like the number of forex pairs, crypto, commodities, and indices.
Customer Support
Issues arise, especially with withdrawals and trading transactions. Being able to easily access customer support and receive prompt, helpful responses is an important aspect of the trading experience. Details like 24-hour support and multiple contact methods are important.
Deposit and Withdrawal Methods
PayPal as a deposit and withdrawal method is our main focus in this roundup. However, knowing which other options are available can be helpful in moving away from PayPal.
Educational Resources
Access to educational resources and market research can provide the information and tools needed to make the best trading decisions. We measure the level of learning resources each broker offers.
eToro
Best Known for Social Trading and CopyTrader Feature
eToro is a PayPal forex broker known for social trading Image Credit: eToro
eToro is a global forex broker known for innovative social trading capabilities. The CopyTrader feature allows customers to copy trades of experienced, successful investors. With appeal for both beginning and advanced traders, this is one of the top PayPal forex brokers. Our comprehensive eToro review spells out all the details, but here is a snapshot of eToro’s capabilities.
Features
CopyTrader: A standout feature of eToro is the CopyTrader platform. eToro clients have access to the portfolios of the most experienced traders. Through CopyTrading, clients can copy the pro’s trades directly, earning profit, and learning along the way.
Educational Resources: We appreciate eToro’s full learning academy, which has guides, tutorials, and courses. This is great for beginners, or advanced traders looking to sharpen skills.
Portfolio Diversification: With eToro, clients can invest in more than forex. This is key for portfolio diversification, without using a different broker.
Social Responsibility: In addition to being a socially responsible broker, the eToro site also promotes reducing carbon footprints and emissions.
Pros
Social Trading Features
User-Friendly Interface
Wide Range of Assets
Cons
Higher Fees Compared to Some Competitors
Criteria Evaluation
Regulation
eToro is a highly regulated PayPal forex broker, which we feel is extremely important. In the United States, eToro is registered with the Financial Crimes Enforcement Network (FinCMoreover Plus, eToro is regulated by the US Securities and Exchange Commission (SEC).
In the UK, the regulation includes the Financial Conduct Authority (FCA). Additionally, we noticed regulation by the Cyprus Securities Exchange Commission (CySEC) in Europe. eToro also holds regulatory status with other top authorities around the globe, including ASIC in Australia.
Fees and Costs
The cost of trading with eToro, especially with spreads on non-forex assets, is higher than we see with some other brokers. This might not be a deal breaker, but it is a detail we’re aware of. There is no withdrawal fee with eToro, except $5 for US accounts.
Trading Platforms
We feel eToro’s proprietary trading platform is a strong point, being known for its usability and robust social trading capabilities. Both novices and experts find the eToro platform easy to use, while still being rich in advanced features.
Range of Instruments
As a PayPal broker, eToro offers a range of instruments. These include forex, crypto, stocks, etc.
Customer Support
Customer support can be reached via live chat and by submitting a support ticket. Currently, it’s not easy to contact the support team by phone. We also noted this broker also has a strong social media presence, opening up another potential avenue to contact them.
Deposit and Withdrawal Methods
This broker accepts PayPal, except for a few regions where it is unavailable. PayPal offers one of the fastest processing times. When using PayPal, funds must be connected to the PayPal balance or to a bank account attached to PayPal. Debit cards, online banking, and wire transfers are also available.
Educational Resources
All levels of traders are supported with a strong library of educational and trading resources. This includes the eToro academy, along with news, analysis, and eToro Plus insights and analytics.
Community Reviews and Expert Recommendations
We know eToro is widely respected among both its user community and experts, especially in terms of social trading. This is one of the top forex brokers we recommend for beginning traders. Although, for those interested in crypto, we feel there are better options out there. Another downside is that eToro’s fees are slightly higher than others. However, this is a detail that could be offset by strong regulation, the platform’s user-friendliness, and social trading capabilities.
Price
We define eToro’s overall pricing as competitive, especially for social trading. However, for instruments, the costs are marginally higher than what would be paid with other brokers. Still, with some of eToro’s robust features, We see it as a competitively priced option for forex brokers that accept PayPal.Visit eToro to learn more.
Pepperstone
Best Known for Fast and Fully Digital Account Opening
Pepperstone makes digital account opening easy and offers low spreads Image Credit: Pepperstone
Pepperstone is known in the forex trading industry for its fast account opening, speed of transactions, and overall seamless experiences. In our experience, Pepperstone offers it all. It’s a strongly regulated broker that offers great platforms and an expansive range of instruments. To read the full details on why Pepperstone is one of the top PayPal forex brokers, read our Pepperstone review.
Features
Low Forex Fees: One of Pepperstone’s standout features is its overall low fee structure. This includes low forex fees, low commissions, and no deposit or withdrawal fees.
cTrader: Pepperstone offers a cTrader platform, with tools and capabilities well-suited for all levels of traders.
Strong Charting & Analysis Tools: This PayPal broker offers a range of market analysis and trading tools for more successful, well-informed trading decisions.
Pros
Easy Account Opening
Free Deposit/Withdrawal
Great Education
Cons
Limited Range of Instruments
Criteria Evaluation
Regulation
Pepperstone is a well-regulated broker, offering a safe trading environment for its clients. Top-tier authorities, including ASIC, CySEC, and FCA, among others regulate it. Additionally, Pepperstone segregates client funds using tier-1 banks.
Fees and Costs
In our assessment, Pepperstone is highly competitive with its fee structure and overall costs. Tight spreads are offered on forex. For example, razor spreads are as low as 0, while standard spreads are as low as 1.0. There are also no charges for deposits or withdrawals.
Trading Platforms
There is a wide range of trading platforms supported by Pepperstone. These include MetaTrader 4 and MetaTrader 5, cTrader, the proprietary Pepperstone platform, TradingView, and a social trader platform.
Range of Instruments
If portfolio diversification is the goal, Peppertone is a good option. It offers a wide range of forex pairs, along with crypto, commodities, shares, CFDs, and indices. Always remember CFDs can be extremely risky.
Customer Support
Pepperstone customer support can be most easily reached through live chat or by submitting an email/support ticket.
Deposit and Withdrawal Methods
In addition to PayPal, a number of funding and withdrawal methods are also supported. These include Visa, Mastercard, bank transfers, Neteller, Skrill, and Union Pay.
Educational Resources
Pepperstone offers a decent level of educational resources, although they aren’t as robust as some other PayPal forex brokers. We found a range of helpful articles, trading guides, webinars, and video tutorials.
Community Reviews and Expert Recommendations
Pepperstone has a good reputation among both its user community and experts in the industry. Clients appreciate fast, easy account opening and transactions. Free, easy funding and withdrawals are another plus. Experts praise Pepperstone for its robust offering of trading platforms and social trading options.
Price
Compared to other forex brokers who accept PayPal, Pepperstone is at the top of the list for competitive pricing. Low forex fees, free withdrawals, and the absence of hidden fees are all pluses in its favor.
AvaTrade
Best Known for Comprehensive Platform Support and High Leverage
AvaTrade offers a range of advanced features and PayPal support Image Credit: AvaTrade
Forex traders seeking robust platform support and the option to take advantage of above-average leverage will appreciate what AvaTrade offers. In our reviews, this forex broker shines as being well-suited to every level of trading experience. A wide range of trading instruments also makes this broker a good choice for portfolio diversification. For more information, see our AvaTrade review for full details on this broker.
Features
Guardian Angel: When trading with AvaTrade, there’s an option to use Guardian Angel, which is a risk management tool for the MetaTrader platforms. Guardian Angel provides quick feedback to positively influence trading decisions.
Negative Balance Protection: There’s no worry about going into a negative balance with AvaTrade. If an account does go negative due to market movements, AvaTrade will quickly bring balances back to zero.
Multilingual Options: We recognize AvaTrade as a leading global broker. Part of this success includes offering the AvaTrade website in twenty different languages, along with multilingual customer support.
Pros
High Leverage
Multiple Platforms Supported
Wide Range of Instruments
Cons
Inactivity Fees
Criteria Evaluation
Regulation
AvaTrade is regulated by a number of top-tier authorities, which is a point that we always place as a high priority. This includes ASIC, the Central Bank of Ireland, and the B.V.I. Financial Services Commission.
Fees and Costs
In our experience, AvaTrade offers generally competitive spreads for forex. However, fees in other areas are a bit high. For example, after only three months of inactivity, AvaTrade charges a $50 fee for each inactivity period. Additionally, we’ve noticed an administration fee of $100 after twelve consecutive months of inactivity.
Trading Platforms
MetaTrader 4, MetaTrader 5, and AvaTrade’s proprietary platforms are all supported. These options cover the range of needs for all traders.
Range of Instruments
For forex trading, there are more than sixty currency pairs available. Additionally, CFDs, stocks, commodities, indices, and crypto are offered.
Customer Support
No matter where in the world its clients are located, AvaTrade offers phone, live chat, email, and WhatsApp support. For phone support, over 35 different regional phone numbers are offered. In our experience, this is something that can cut down significantly on wait times.
Deposit and Withdrawal Methods
PayPal is available as a fast and convenient funding method. In addition to PayPal credit cards, wire transfers, and a number of other e-payments. However, we want to stress that not all deposit and withdrawal methods are available in all countries.
Educational Resources
We’ve taken a deep dive into AvaTrades’s educational resources and found them to be solid and sufficient for all levels of traders. While this isn’t the most expansive collection of educational materials, the webinars and tutorials cover all the basics, plus more advanced topics.
Community Reviews and Expert Recommendations
From our research and professional experience, AvaTrade earns positive reviews among the community and experts. Flexible trading conditions, good leverage options, and robust platforms are the high points mentioned. However, fees are a sore point, especially for AvaTrade users with inactive accounts.
Price
In terms of spreads, commissions, and withdrawal fees, AvaTrade is competitive among other brokers we’ve reviewed. As mentioned, inactivity and administration fees aren’t as competitive.
XM
Best Known for Comprehensive Educational Resources and Range of Instruments
XM is one of the few PayPal brokers offering live education. Image Credit: XM
Next on our list of PayPal forex brokers is XM. This is a broker that stands out for extensive educational resources, and a wide range of trading instruments. Compared to other forex brokers, fees are generally low with XM, making them an attractive option in the market. In our comprehensive XM review, we cover all the XM details, including trading platforms, regulations, customer support, and more.
Features
Free Live Lessons: We appreciate that XM offers a unique service of live lessons for its clients and that the lessons are free. This far outpaces what other platforms offer in terms of learning resources.
More Than 30 Industry Awards: XM’s reputation in the industry catches our attention. Currently, they have over thirty industry-specific awards to their credit.
Globally Recognized: As of our last count, XM services more than 190 countries around the globe and provides services in thirty different languages.
Pros
Extensive Educational Resources Wide Range of Instruments Competitive Spreads
Cons
Withdrawal Fees for Some Methods
Criteria Evaluation
Regulation
Regulatory status is one of the first details we assess when reviewing a forex broker. We’re pleased to report that XM passes all our tests. ASIC in Australia, CySEC, FSC, and DFSA regulates XM.
Fees and Costs
Across the board, XM offers low trading fees. Based on the account type, spreads are as low as 0.0 – 0.8 pips. The only XM account with a commission is the XM Zero account, however, this account also has the lowest spreads.
Trading Platforms
MetaTrader 4 and MetaTrader 5 are both the most popular platform opinions, and they’re both supported by XM.
Range of Instruments
XM claims to offer a broad range of instruments, so we reviewed what they offer. We’re here to report that this is a true claim. As of our last count, there are 55 forex pairs, more than 1,300 stock CFDs, nearly a hundred shares, and 57 crypto options. These tallies don’t include precious metals, indices, energies, and commodities.
Customer Support
When needing assistance from XM, we were able to easily contact its support desk. We feel it’s important to note that this forex broker offers customer support in over twenty-five languages. Phone support is available 24/5. Email is also available and answered during normal business hours. Live chat and Telegram support is available 24/7.
Deposit and Withdrawal Methods
PayPal transactions are supported through XM, with fast processing times. Additionally, clients can use credit cards, bank transfers, and Skrill.
Educational Resources
XM stands out for its educational resources, including live educational opportunities. This is a feature we haven’t seen other forex brokers offer. There are also webinars and tutorials that cover the basics of trading and using the XM platform.
Community Reviews and Expert Recommendations
In our research, XM doesn’t have the best standing in terms of community reviews. Customer service concerns, withdrawal issues, and technical glitches are mentioned frequently. Still, this broker has a history with clients who have happily been with them for years. Experts appreciate XM’s range of tradable instruments and live educational opportunities.
Price
XM’s pricing varies depending on account type but is overall competitive. Most deposits and withdrawals are free of additional fees. The one exception we noted is on wire transfers under $200. New clients can sign up for a live or demo account with XM to learn more.
Vantage FX
Best Known for Competitive Pricing and Extensive Platform Support
Vantage FX offers a broad range of platforms and accepts PayPal Image Credit: Vantage Markets
Vantage FX is a popular global broker that has been since 2009. This broker has earned accolades for its wide range of platforms and social trading features. Vantage FX has caught our attention as one of the top PayPal forex brokers. We’ve put together a comprehensive Vantage FX review for those interested in learning more.
Features
ZuluTrade: Vantage FX partners with ZuluTrade, a proprietary platform that evaluates and ranks advanced traders. The benefit here is that these traders are somewhat vetted for social trading, leading to increased profitability.
Range of Accounts: We’re impressed with Vantage FX’s range of account options. These include Standard, Raw, Pro, and Swap Free.
Deposit Bonuses: When signing up for a Vantage account, new customers can receive up to a 50% deposit bonus. Subsequent deposits can earn up to 20%, depending on the option chosen.
Pros
High Leverage
Multiple Platforms Supported
Supports Social Trading
Fast and Free PayPal Transactions
Cons
Inactivity Fees
No Negative Balance Protection in Some Jurisdictions
Criteria Evaluation
Regulation
When researching how secure Vantage FX is, we found this broker to be regulated by ASIC (Australia) and CIMA (Cayman Island). Also, VFSC in Vanuatu regulates Vantage.
Fees and Costs
Vantage FX is known for its tight spreads, which can be as low as 0.0. Commissions are generally low, or at least comparable to what we’ve seen with other low-cost brokers. Vantage FX also doesn’t charge an inactivity fee, which is a perk not offered by many others.
Trading Platforms
When looking at Vantage FX’s trading platforms, we noted they offer five, not counting the demo account platform. Options include MetaTrader 4, MetaTrader 5, ProTrader, CopyTrader, and the Vantage App.
Range of Instruments
This broker offers a strong range of instruments. In addition to forex pairs, indices, commodities, shares, and crypto are also offered.
Customer Support
Vantage FX offers 24/7 customer support in most cases. The only deviation from this we found was the line for inquiries for EU accounts, which are supported 24/5. Customer support is available via phone, email, and live chat.
Deposit and Withdrawal Methods
PayPal is available, along with a wide range of additional deposit and withdrawal methods. These include credit cards, bank transfers, and a number of e-wallets.
Educational Resources
With this PayPal broker, we were able to access webinars, and courses on the main types of trading. A nice perk is the option to download a free e-book covering the basics of trading.
Community Reviews and Expert Recommendations
Within the forex trading community, Vantage FX is respected for its range of trading platforms, lending well to portfolio diversification. Competitive pricing is another attractive feature among the user community. However, some complaints have centered on difficulty withdrawing funds and glitches in trading.
Price
Raw spreads that start at 0.0 pips and low commissions position Vantage FX in the low-cost broker category. Visit the website or sign up for an account to learn more about Vantage FX pricing.
Libertex
Best Known for Low Commission Trading and Easy-to-Use Platform
Libertex is a PayPal forex broker with low commission trading options Image Credit: Libertex
When compiling our list of the best PayPal forex brokers, we had to include Libertex. This broker is known for user-friendliness and low commission trades. With this broker, the intuitive platform and ease of account setup make it a good choice for beginning traders.
Features
Auto Trading: With the auto trading feature, trading behaviors are analyzed and trades can be automatically made based on predefined parameters.
Hot Assets: This is a list of the most volatile trades, which also hold the most profit potential. Libertex clients have access to hot asset updates.
Loyalty Program: Clients with elevated trading status or high-volume traders can join the Libertex Loyalty Program. Benefits include individual trading conditions, premium trading signals, and more.
Pros
Low Commission Trading
Easy-to-Use Platform
Fast Account Opening
Cons
Limited Advanced Trading Features
Criteria Evaluation
Regulation
CySEC, which we view as a top-tier regulating authority, regulates Libertex. This provides a secure, safe, and transparent trading environment for Libertex clients.
Fees and Costs
Last year Libertex updated its commission policies. While these aren’t zero-commission trades. However, the commission rates are still extremely low. For example, commission on forex is 0.007%. Spreads with Libertex remain tight and competitive.
Trading Platforms
MetaTrader 4 and MetaTrader 5 are both supported trading platforms. Additionally, the Libertex mobile app allows for smooth trading and account management from anywhere.
Range of Instruments
Libertex offers a wide range of instruments, which is a feature we feel is important for a strong broker. In addition to forex pairs, commodities, stocks, indices, EFTs, bonds, and crypto are offered.
Customer Support
Phone, email, and live chat support are available for questions and problem resolution. Latin America, Thailand, and Vietnam have designated phone numbers for support.
Deposit and Withdrawal Methods
Besides PayPal, standard bank cards and wire transfers are available. Libertex also supports several other e-wallets, but this is dependent upon location.
Educational Resources
Libertex offers nearly a dozen lessons on trading and using its platform. We would like to see this forex broker offer more comprehensive learning resources for its clients.
Community Reviews and Expert Recommendations
Overall, both the Libertex community and trading experts appreciate low-commission trading and ease of use. The MetaTrader platforms are a feature that offers familiarity to clients who are switching to Libertex from other brokers. We tend to agree with the overall sentiments about Libertex. However, we have also noticed some pain points for clients in the customer service department.
Price
With tight spreads and ultra-low commissions, Libertex is considered a low-cost broker. Still, it’s important to understand all the costs associated with forex trading and how these can affect profitability with Libertex. We encourage you to learn more at the Libertex website.
IC Markets
Best Known for Low Fees and Multiple Platform Options
IC Markets stands out for a robust range of trading platforms Image Credit: IC Markets
IC Markets is a global forex broker that has been operating since 2007. This places them as one of the most respective members of the online forex trading industry. We have a full, comprehensive IC Markets review, but here’s a snapshot of how they perform.
Features
Copy Trading: This is a feature that’s great for beginners who want to profit from trading while learning. However, more experienced traders can benefit, too.
Algorithmic Trading: Through cTrader Automate, IC Markets clients can develop algorithmic trading systems.
Strong Regulation: Regulated by top-tier authorities means IC Markets is secure, transparent, and trustworthy.
Pros
Low Fees
Diverse Trading Platforms
Free Deposit/Withdrawal
Cons
None Significant
Criteria Evaluation
Regulation
IC Markets offers its clients top-tier regulation. Our research shows that ASIC, CySEC, and FSA Seychelles regulates IC Markets.
Fees and Costs
Similar to many of the forex brokers we’ve reviewed, IC Markets offers low spreads and competitive commissions. On accounts with the lowest spreads, commissions are a bit higher. For example, with the Raw Spread account, spreads are as low as 0.0 pips. This account also has a commission of $3.50 per lot per side. In contrast, the Standard account is zero commission with spreads as low as 0.8 pips.
Trading Platforms
There are good trading platform options with this broker. IC Markets supports MetaTrader 4 and 5, with cTrader and TradingView.
Range of Instruments
This broker offers a broad range of CFDs, including forex pairs, commodities, indices, stocks, bonds, and crypto. This is ideal for portfolio diversification, but we do want to express caution about the risk involved with CFDs.
Customer Support
24/7 customer support is available. Both clients and those interested in learning more about IC Markets can reach them by live chat, phone, and email.
Deposit and Withdrawal Methods
IC Markets offers clients the option to fund and withdraw from their accounts using PayPal. Additionally, credit cards, bank or wire transfers, Skrill, Neteller, and other e-wallet methods are offered.
Educational Resources
We’ve researched IC Markets educational resources and found them adequate, but not overly impressive. Video tutorials and a general trading overview are helpful to beginning traders.
Community Reviews and Expert Recommendations
We want to begin by noting that IC Markets has a 4.8 star review on Trustpilot with more than 38,000 reviews. This is exceptional, even among the best forex brokers in the industry. Experts tend to mimic this, appreciating the broker’s low fees, robust platform options, and usability.
Price
With IC Markets, pricing is as straightforward as it gets. There are no deposit or withdrawal fees and no inactivity fees. Tight spreads and super-low commissions also make this an attractive broker.
FP Markets
Best Known for Low Fees and Great Educational Tools
FP Markets is a PayPal forex broker with an extensive learning library. Image Credit: FP Markets
When considering forex brokers that accept PayPal, a combination of low fees and educational materials are essentials for beginning traders. In our assessment, FP Markets does an above average job of meeting these demands. Our FP Markets review explains it all, but let’s take a closer look at some key details.
Features
Iress Accounts: Great for portfolio diversification with multi-asset trading and greater flexibility.
No Dormancy Fee: There is no inactivity or dormancy fee charged with FP Markets. However, they do close zero-balance accounts that have been inactive for three months.
Negative Balance Protection: It’s the small details that matter, and negative balance protection offers an extra level of peace of mind.
Pros
Low Fees
Easy Account Opening
Great Educational Tools
Cons
None Significant
Criteria Evaluation
Regulation
FP Markets offers respectable, top-tier regulation. This PayPal broker is regulated by ASIC and CySEC, providing a secure trading environment for FP Market clients.
Fees and Costs
IC Markets offers low forex fees, with the combination of tight spreads and low commissions. There are also no deposit or withdrawal fees with this broker.
Trading Platforms
This broker supports MetaTrader 4 and MetaTrader 5, which are platforms we consider to be key for all levels of traders. For other options, cTrader, WebTrader, TradingView, Iress, and the Mottai platform.
Range of Instruments
Forex isn’t the only option with FP Markets. They also offer shares, commodities, indices, stocks, and crypto.
Customer Support
Customer support can be reached via live chat, phone, and email. It’s possible to also connect with this broker through social media.
Deposit and Withdrawal Methods
PayPal deposits and withdrawals are seamless with FP Markets. Additional methods of funding include credit and debit cards, bank transfers (domestic and international), Neteller, Skrill, and other e-wallets.
Educational Resources
After researching FP Markets’ educational resources, we found them to be above average for the forex trading industry. A full range of trading courses, live webinars, podcasts, tutorials, ebooks, and guides.
Community Reviews and Expert Recommendations
FP Markets has accumulated outstanding community reviews over the years. We agree with statements such as easy account opening, broad platform options, and low fees. Forex experts appreciate advanced tools and options for portfolio diversification.
Price
FP Markets offers a competitive fee structure. Both commissions and spreads are low, offering opportunities to trade forex with minimum costs involved.
Notable Mentions
IG Markets
IG Markets is a global leader in CFDs and forex, with a broad range of trading instruments. They offer an impressive spectrum of educational resources and are regulated by the FMA and FCA. We noticed IG’s range of platform offerings differs from what other forex brokers offer. Of the MetaTrader platforms, only MT4 is offered. They also offer ProRealTime and L2 Dealer.
CMC Markets
Where we feel CMC Markets stands out is by offering over 12,000 trading instruments. In this regard, we feel CMC Markets aligns with other popular forex brokers, such as eToro. However, not all of their offerings are as robust, which kept them off our main list. They offer a web platform and MetaTrader 4 for platforms, which we feel could be extended out and appeal to a wider range of trading preferences.
FAQs
What are the benefits of using PayPal for forex trading?
The main benefit of using PayPal to fund forex trading is access to fast and secure transactions. Forex brokers accepting PayPal understand the extra level of convenience and peace of mind this provides.
How do I choose the best PayPal forex broker?
When considering forex brokers that accept PayPal, it’s important to look at all the factors that matter. This includes regulatory standing, a range of trading platforms and instruments, fees, customer support, and user reviews. We always encourage forex traders to take the time and research a number of online brokers thoroughly before making any choices.
Are there any fees associated with using PayPal for forex trading?
Unlike some banks and other payment methods, PayPal does not charge any fees for forex trading transactions. However, we have noticed that some brokers may charge a fee when trading with PayPal. We strongly advise learning about a broker’s fee structure beforehand to avoid any surprises.
Which forex brokers accept PayPal?
There are a number of reputable forex brokers using PayPal. Some of the best include eToro, Pepperstone, AvaTrade, XM, and Vantage FX. A few other great choices for PayPal forex brokers include Libertex, IC Markets, and FP Markets. When unsure if a forex broker accepts PayPal, most offer a live chat option that can quickly answer this question.
Is PayPal a safe method for forex trading?
PayPal forex brokers are considered safe, with PayPal offering strong security, plus buyer protection. PayPal can also be used as a buffer between personal bank accounts and a broker, further safeguarding your accounts.
Final Thoughts
PayPal is a safe, easy method of funding and processing withdrawals from forex accounts. Choosing one of the best PayPal forex brokers can make all the difference in your trading experience. Here, we’ve shared eight of the top brokers accepting PayPal, and have outlined what each offers. Ultimately, the choice is up to the individual, but here are a few key takeaways to keep in mind.
Not all forex brokers accept PayPal. It’s always best to check rather than assume.
With brokers that do work with PayPal, it still might not be available in all regions.
PayPal doesn’t charge a usage or transaction fee, but individual brokers might.
Consider details like regulation, fees, trading platforms, and customer support when choosing a PayPal broker. For example, consider these MT4 forex brokers if this is your platform of choice.
Always keep in mind the risks of trading forex, and choose a broker that feels safe and secure.
At TopBrokers, we are always committed to helping forex traders like you connect with the best brokers and resources. Our goal is to provide the information needed to make informed decisions about brokers and trading. We encourage you to explore our reviews and use what we’ve uncovered as a base for doing your own research. We also invite you to check back often for our latest broker reviews and insights.
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