Best Forex Brokers That Accept PayPal in 2024

eToro

eToro Review

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eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest.

The eToro broker was founded in 2007. The company promotes itself as a social trading platform working with traders from over 140 countries. The broker has several divisions operating under different jurisdictions and licensed by different regulators. For example, eToro (Europe) is licensed by the Cypriot regulator CySEC (109/10) and eToro (UK) is licensed by the British regulator FCA (583263). The broker also has a representative office in Australia and the USA. eToro Profile Details

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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Your capital is at risk.
You can lose your money.

The Exness brand is known worldwide due to its profitable trading conditions, high-security level, and wide range of financial instruments. It focuses on trading CFDs, especially currency pairs. Cryptocurrencies, commodities, stocks, and derivative stock indices are also available. Exness offers account types for novice traders, more experienced traders, and professionals. It allows traders to use a variety of strategies including passive ones, such as copy trading and algorithmic trading. The proprietary Exness platform for social trading is used by over 20,000 investors globally. The broker’s activities are legal and its services are available in over 130 countries. Exness is supervised by 8 financial commissions, including CySEC (Cyprus, 178/12), one of the strictest European regulators, and FCA (UK, 730729), FSA (Seychelles, SD025), FSC (BVI) SIBA/L/20/1133, CBCS (Curacao, 0003LSI), FSCA (South Africa, 51024), and CMA (Kenya, 162). The broker offers demo and cent accounts for novice traders, as well as standard and ECN account types for experienced traders.

Eightcap

Eightcap Review

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Your capital is at risk.

Eightcap offers more than 800 trading instruments, namely CFDs [contract for (price) differences] on currency pairs, cryptocurrencies, indices, stocks, commodities, and precious metals. The broker has a minimum deposit of $100, a free demo account, and two live account types, which differ in trading costs. One account type has standard spreads without a fee, and the other has raw spreads that carry a brokerage fee. The maximum leverage is 1:500. Traders can use any strategy with minimal restrictions. Trading is carried out through MetaTrader 4, MetaTrader 5, and TradingView. Eightcap has two main features. First, the broker has a powerful training and analytical base. Second, the platform offers a number of unique tools, for example, Capitalise.ai, which provides automated trading with minimal risk. At the same time, there are no options for passive income, not even a referral program.

FxPro

FxPro Review

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The FxPro broker was registered in July 2006 in Cyprus. The company’s activities are licensed by financial regulators: CySEC, 078/07 (Cyprus), Bahamas SCB (SIA-F184), FCA, 509956 (UK), and South African FSCA (45052). FxPro is successfully operating in more than 170 countries for retail and institutional clients. The broker has received more than 85 awards, including “Best Forex Trading Platform” and “Best Trading Platform”. FxPro has become known for providing the best trading tools. With FxPro broker, traders can trade more than 70 currency pairs, futures and stocks (Twitter, Apple, Google). The broker has over 2,100 trading assets in its pool, including cryptocurrencies, which are subject to the account type. The basic set of assets is available on cTrader accounts, the full set is available on accounts opened on MT4 and MT5. FxPro sets high safety standards with the client's funds being kept in large international banks. They are insured and separated from the broker's equity.

IC Markets

IC Markets Review

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Your capital is at risk.
Up to 75.93% of the broker’s non-professional clients incur losses when trading CFDs.

IC Markets is a multi-regulated STP/ECN broker that offers trading of 2,250+ instruments on MetaTrader, TradingView and cTrader platforms. Currently, IC Markets provides its services to over 200,000 clients worldwide. The broker processes over 500,000 trades daily and its monthly trading volume is almost $1.4 trillion as of June 2024. It is regulated by CySEC, ASIC, and FSA. The broker was incorporated in 2007 and is constantly developing, improving, and adding new services and products.

FxGlory

FxGlory Review

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FxGlory (FX Glory) is a brokerage company founded in the United Arab Emirates in 2011. After working in the Asian financial market for slightly over a year, the company moved to European markets. FxGlory chose Saint Lucia as its jurisdiction (registration number 2023-00207), and has offices in the UK, Switzerland and Cyprus. The broker provides classical services in the Forex market, covering all key areas of the segment. FxGlory focuses on active trading, also offering access to binary options.
Notably, the broker is not licensed by any reputable regulatory authorities. This factor should be taken into account by traders considering working with the broker.

Libertex

Libertex Review

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Your capital is at risk.
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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Your capital is at risk.
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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Your capital is at risk.
71% of retail investor accounts lose money when trading CFDs with this provider.

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.

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.