Best Forex Brokers That Accept PayPal in 2024

OANDA

OANDA Review

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The name OANDA is an acronym for “Olsen & Associates” or “Olsen AND Associates”. It is registered in the United States and provides its clients with a wide range of financial services in most countries of the world. The company was founded in 1996 and is currently regulated in four jurisdictions. The main regulator of the broker is the UK Financial Conduct Authority (FCA). Oanda Canada is licensed by IIROC. The company has several significant awards to its credit, including a victory in the category "Best Forex Trading Technologies" from the UK Forex Awards, "Best Trading Platform" from FX Week, as well as "Best Customer Service" from the US Foreign Exchange Report.

IG Markets

IG Markets Review

IG Markets has been providing brokerage services for retail traders since 2014. It was established in 1974 in London to work with professional traders. It is a part of the IG Group with representative offices in 17 countries. IG Markets stocks are traded on the London Stock Exchange as a part of the FTSE 250 index. The broker is regulated by FCA (Financial Conduct Authority | the UK), CySec (Cyprus Securities and Exchange Commission), ASIC (Australian Securities and Investments Commission), BaFin (the Federal Financial Supervisory Authority | Germany), FINMA (Swiss Financial Market Supervisory Authority), and NFA (National Futures Association). The IG Group global representative office is supervised by BMA (the Bermuda Monetary Authority). The broker provides services of trading Forex and different CFDs through MetaTrader 4 and its in-house platforms for retail and professional traders.

Fidelity

Fidelity Review

Fidelity Investments is a large American financial services company. It was founded in 1946 by American businessman and lawyer Edward Crosby Johnson II. It provides services to traders in trading securities and commodity assets and allows investors to invest in mutual funds and investment funds, form portfolios for a variety of instruments, including bonds and annuities with fixed income. The company has received several awards: according to Barron's, Investors Business Daily, Kiplinger, and Stock Brokers. Fidelity Investments is recognized as the best online broker of 2020.

Exness

Exness Review

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You can lose your money.

Exness is one of the world’s largest brokers, known for its competitive trading conditions, high security, and wide selection of assets. The company serves over 700,000 active clients and processes a monthly volume exceeding $4 trillion.
While specializing in currency pairs, Exness also offers CFDs on stocks, commodities, indices, and cryptocurrencies. The broker caters to all experience levels with various account types – from cent accounts and social trading for beginners to high leverage and Expert Advisor support for seasoned professionals.
Exness holds multiple international licenses, including the stringent FCA and CySEC, ensuring trader funds are protected.
With features like 24/7 support, fast withdrawals, and analytics tools, Exness strives to provide an optimal trading experience.

Eightcap

Eightcap Review

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Eightcap is a leading Forex and CFD broker, offering over 800 trading instruments, including currency pairs, cryptocurrencies, indices, stocks, and commodities. With tight spreads starting from 0 pips, leverage up to 1:500, and no withdrawal fees, Eightcap provides a competitive trading environment. The broker is regulated by top-tier authorities such as ASIC and FCA, ensuring a secure trading experience.
Comprehensive educational resources, advanced analytics, and innovative functionality such as code-free automated trading through Capitalise.ai and enhanced order execution with FlashTrader distinguish the platform from others.
Though Eightcap does not offer passive income opportunities or joint accounts, it is a popular choice for those seeking a reliable and feature-rich broker.

FxPro

FxPro Review

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FxPro is a well-established broker offering traders access to over 2,100 financial instruments across multiple asset classes, including Forex, stocks, commodities, indices, and cryptocurrencies. It is regulated by reputable authorities – FCA, CySEC and others.
The broker stands out with its focus on technology and offers an average order execution speed of 14-30 ms, setting a market benchmark. FxPro also provides an impressive suite of trading tools and educational resources, such as Trading Central analytics. The minimum deposit of $100, however, is higher than some competitors.
With a company capital exceeding 100 million euro, and a track record of reliability, FxPro stands out as a top-tier choice for traders looking for a secure and dynamic trading environment.

IC Markets

IC Markets Review

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IC Markets stands out as a highly reputable broker offering trading with 2,250+ instruments across Forex, stocks, commodities, cryptocurrencies, and more.
The broker provides ultra-fast execution with order speeds up to 40 milliseconds facilitated by its top-tier liquidity partners and processes over $29 billion in Forex trades daily. With a strong focus on active traders, it offers ECN accounts with raw spreads from 0 pips and leverage up to 1:500 (based on which regulator's rules apply to a trader's account). Copy trading is also well-supported through integration with ZuluTrade, cTrader Copy, and other platforms.
IC Markets clients benefit from robust security and regulatory licenses from ASIC, CySEC, and others.

FxGlory

FxGlory Review

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Your capital is at risk.

FxGlory has attracted a significant client base despite lacking a reputable regulatory license. The broker offers several account types with varying minimum deposits and extensive leverage options reaching up to 1:3000. While spreads start from 2 pips, which is above average, they can be as low as 0.7 pips on VIP accounts with no additional trading fees. Potential clients should carefully consider the broker's complex withdrawal fee structure.
FxGlory provides a free 3-month VPS service with a $1,000 minimum deposit, renewable for additional 3-month periods with further $1,000 deposits.
FxGlory is best suited for traders who prioritize high leverage and less restrictive trading conditions over regulatory oversight.

Libertex

Libertex Review

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74.91% of retail investor accounts lose money when trading CFDs with this provider.

Libertex is an online broker that provides access to trading CFDs on stocks, commodities, cryptocurrencies, and more. The company has been in the market for over 10 years. One of the advantages and distinctive features of the broker is its proprietary web trading platform with non-standard functionality designed for novice traders. It features a user-friendly interface, high information content, and advanced technical functionality.

Pepperstone

Pepperstone Review

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Please note that your capital is at risk.

Pepperstone (Pepperstone.com) was founded in 2010 in Melbourne, Australia, by professional traders who were not satisfied with the quality of services provided by most brokers. The founders decided to avoid many of the disadvantages of competitors, including high commissions, delayed execution of orders, etc. The founders therefore focused on improving the technical component. The company has set itself the goal of changing the “rules of the game” and setting the bar high for online trading.
Today, Pepperstone offers clients all over the world some of the best technological solutions and favorable trading conditions. The company also provides professional tools that help traders not only master the fine art of trading, but also significantly increase trading efficiencies. In addition, Pepperstone’s platform is scrutinized by seven regulatory authorities, including ASIC (Australian Securities and Investments Commission, AFSL No.414530), FCA (UK Financial Conduct Authority, 684312), DFSA (F004356), BaFin (151148), CMA (128), SCB (SIA-F217), and CySec (388/20). Moreover, with Pepperstone, clients' assets are maintained in aggregated accounts with several major, global banking institutions. These facts confirm the reliability of the company and guarantee the safety of the client's capital.

AvaTrade

AvaTrade Review

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AvaTrade was founded in 2006 in Dublin, Ireland. The company has offices in 10 countries. It currently has over 300, 000 registered users and processes more than 2 million transactions every month. These factors contribute to AvaTrade being a reliable and trusted broker. They are accredited across five continents and are one of the market leaders. The broker is regulated by the Australian Securities and Investment Commission (ASIC, 406684), the Japanese FSA ( 1662), and the South African FSCA ( 45984). AvaTrade holds accreditation by the Central Irish Bank ( C53877 ), the Abu Dhabi Financial Services Regulatory Authority (190018), and the British Virgin Islands Financial Services Commission ( SIBA/L/13/1049), CySEC ( 347/17). AvaTrade allows traders to trade stocks, securities, indices, cryptocurrencies, and currency pairs. In total, the offer more than 1,200 tools to customers.

IC Trading

IC Trading Review

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Your capital is at risk.
Your capital is at risk.

IC Trading is a brokerage firm specializing in providing trading services in the Forex and CFD markets. IC Trading is authorized and regulated by the Financial Services Commission of Mauritius (FSC) with license number GB21026834.
IC Trading holds client funds in separate trust accounts at Westpac and National Australia Bank (NAB). All client funds are managed following client money handling rules and kept separate from IC Trading company funds.

Useful Forex Facts & Insights

Top 3 Largest Brokers By Daily Trading Volume

The trading volume of a Forex broker is a key indicator of high liquidity. Typically, such brokers offer tighter average spreads and allow trading major currency pairs without slippage at any volume. Traders Union has selected the top 3 Forex brokers that accept clients from your country based on their monthly trading volume.

What is PayPal?

PayPal is a widely-used online payment system that allows individuals and businesses to send and receive money electronically. With PayPal, users can link their bank account, credit card, or debit card to their PayPal account and use it as a virtual wallet to make secure online transactions.

Additionally, PayPal offers services such as sending invoices, making recurring payments, and tracking transaction history. It's considered a fast, convenient, and secure way to transfer money and make purchases online.

Is PayPal Good for Forex?

PayPal is a widely used payment service that can be beneficial for Forex trading. Here are some benefits of using PayPal for Forex:

What Currencies Does PayPal Support?

PayPal supports a wide range of currencies, including:

Does PayPal Work in My Country?

PayPal is available in many countries around the world, including the United States, United Kingdom, Australia, Canada, and most countries in the European Union. Some of the restricted countries include North Korea, Libya, and Syria.t.

What is the PayPal Transaction Minimum?

The minimum transaction amount for normal PayPal accounts is $0.01, which means that you cannot complete a transaction for an amount less than $0.01.

How Long is Deposit and Withdrawal With PayPal?

With PayPal, you can transfer money to and from your account quickly and easily. The standard transfer typically completes in 1 business day but depending on your bank's clearing process, it may take 3-5 business days. If you need the funds faster, you can opt for an instant transfer which charges 1% of your total amount.

Can I Invest With PayPal Without a Broker?

No, you cannot directly invest in the forex market through PayPal. PayPal is not a forex broker and does not provide investment services. Instead, it's a payment service that allows users to securely and easily send and receive money online. While you can use PayPal to deposit and withdraw funds from a forex trading account, it does not allow users to trade directly in the forex market.

How Much Does a PayPal Transaction Cost?

When it comes to forex trading, many brokers now offer the option of using PayPal as a payment method. However, it is important to be aware of all associated fees when making transactions with PayPal to avoid unexpected costs.

PayPal Fees

When using PayPal brokers, the typical cost for a transaction is 2.9% plus $0.30 per transaction for US transactions. For international transactions, the fee is 4.4% plus a fixed fee.

Broker Fees

In most cases, the forex broker charges no additional fees when making deposits or withdrawals with PayPal. However, some brokers may charge a flat fee of around $2-3 per transaction, while others may charge a percentage of the total amount being deposited or withdrawn.

Depositing and Withdrawing Money with PayPal

Depositing and withdrawing money through PayPal from a forex broker account is a straightforward process that can be done in a few simple steps. Here's a step-by-step guide:

Keep in mind that some forex brokers may charge additional fees for depositing or withdrawing funds through PayPal, so check the terms and conditions of your broker before making a transaction.