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Best PayPal Forex broker - IC Markets

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

TOP PayPal Forex brokers:

IC Markets - best PayPal broker with 0 withdrawal fee

FxPro - best broker with optimal trading conditions for beginners

Vantage Fx - best broker with minimum initial deposit requirements $50

Admirals (Admiral Markets) - best broker with innovative trading tools

AvaTrade - an excellent platform for copy trading

PayPal has become one of the most popular online payment platforms used by millions of people worldwide every day. With its widespread acceptance and ease of use, many Forex brokers have started offering PayPal as a convenient deposit and withdrawal method for traders.

This article aims to analyze and compare some of the top PayPal Forex brokers available in the market for traders looking to use this payment method. The brokers are selected based on key factors like minimum deposit amounts, payment fees, supported currencies, available platforms, regulations, tradable assets and overall features. Details about depositing and withdrawing funds using PayPal with Forex brokers are also provided. Each broker's strengths are highlighted to help readers choose one that best matches their specific needs and location.

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:

Convenient and easy to use: PayPal is easy to use and can be accessed from anywhere in the world with an internet connection. It eliminates the need to carry large amounts of cash or use wire transfers.

Secure: PayPal uses advanced security measures to protect users' financial information and transactions.

Fast and efficient: PayPal transactions are processed quickly, and funds can be transferred almost instantly with PayPal Instant Transfer.

Widely accepted: PayPal is widely accepted by Forex brokers, making it a convenient and accessible payment option for traders.

Supports multiple currencies: PayPal supports multiple currencies, which can be beneficial for Forex traders who operate in different countries and deal with different currencies.

Global reach: PayPal operates in over 200 countries, so you can use it to transact with Forex brokers from around the world.

Easy tracking: PayPal provides an easy-to-use platform for tracking your transactions.

What Currencies Does PayPal Support?

PayPal supports a wide range of currencies, including:

1

US Dollar (USD)

2

Euro (EUR)

3

Pound Sterling (GBP)

4

Japanese Yen (JPY)

5

Canadian Dollar (CAD)

6

Australian Dollar (AUD)

7

New Zealand Dollar (NZD)

8

Swiss Franc (CHF)

9

Hong Kong Dollar (HKD)

10

Singapore Dollar (SGD)

11

Danish Krone (DKK)

12

Swedish Krona (SEK)

13

Norwegian Krone (NOK)

14

Mexican Peso (MXN)

15

Brazilian Real (BRL)

16

Czech Koruna (CZK)

17

Hungarian Forint (HUF)

18

Polish Zloty (PLN)

19

Israeli New Shekel (ILS)

20

Chinese Renmenbi (CNY)

21

Philippine Peso (PHP)

22

Thai Baht (THB)

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.

Best PayPal Forex Brokers Comparison

Broker PayPal Support PayPal Deposit and Withdrawal Fees Minimum Deposit Other Payment Options Best For

FxPro

YES

$0 deposit / $0 withdraw

$100 USD

ACH transfer, wire transfer

Multiple Pricing Options

Open an Account

Your capital is at risk.
79.27% of retail investor accounts lose money when trading CFDs with this provider.

IC Markets

YES

$0 deposit / $0 withdraw

$200 USD

ACH transfer, wire transfer

Trading Speed

Open an Account

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

Vantage FX

YES

$0 deposit / $0 withdraw

$200 USD

ACH transfer, wire transfer

N/A

Open an Account

Your capital is at risk.

Admiral Markets

YES

$0 deposit / $0 withdraw

$100 USD

ACH transfer, wire transfer

Educational Tools

Open an Account

Your capital is at risk.

AvaTrade

YES

$0 deposit / $0 withdraw

$100 USD

ACH transfer, wire transfer

Simple Account Opening

Open an Account

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

FP Markets

YES

$0 deposit / 0.5%-2% withdraw

$100 USD

ACH transfer, wire transfer, cards

Beginner Traders

Open an Account

Your capital is at risk.

eToro

YES

$0 deposit / $5 withdraw

$200 USD

ACH transfer, wire transfer, card

Copy Trading

Open an Account

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Oanda

YES

$0 deposit / $0 withdraw

None

ACH transfer, wire transfer

API Offers

Open an Account

Your capital is at risk.

Markets.com

YES

$0 deposit / $0 withdraw

$100-250 USD

ACH transfer, wire transfer

Wide Range of Features

Open an Account

Your capital is at risk.
79,9% of retail investor accounts lose money when trading CFDs with this provider.

HYCM

YES

$0 deposit / $i withdraw

$100 USD

ACH transfer, wire transfer

Variable Account Types

Open an Account

Your capital is at risk.

IG

YES

$0 deposit / $0 withdraw

250 GBP

ACH transfer, wire transfer

Competitive Spreads

Study Review

Plus500

YES

$0 deposit / $0 withdraw, $10 on 6+ withdrawals

$100 USD

ACH transfer, wire transfer, cards

Mobile Trading

Study Review

FxPro – Best PayPal Forex Broker for Multiple Pricing Options

Open an Account
Your capital is at risk.
79.27% of retail investor accounts lose money when trading CFDs with this provider.

FxPro is a PayPal forex broker that is ideal for its many pricing options, as well as for those who want to access a variety of cryptocurrencies. Users of this platform can use PayPal to deposit and withdraw funds using PayPal. The minimum deposit for FxPro PayPal is $100. It costs about $0 in commissions to use PayPal on the platform.

A few pros of FxPro include a seamless account opening process, excellent customer service, and free deposits and withdrawals.

A few cons of FxPro include a lack of access to stocks (FxPro is CFD and Forex only) and high trading fees for some CFDs. The platform also charges inactivity fees.

IC Markets – Best PayPal Forex Broker for Trading Speed

Open an Account
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 PayPal forex broker that is ideal for quick trading speeds, as well as overall low forex fees. Users of this platform can use PayPal to deposit and withdraw funds using PayPal. The minimum deposit for IC Markets PayPal is $200. It costs about zero in commissions to use PayPal on the platform.

A few pros of IC Markets include low forex fees, fast account opening, and free deposits and withdrawals for PayPal. The platform has decent regulation and doesn’t charge an inactivity fee. Clients can also enjoy plenty of non-PayPal deposit options and ten different supported base currencies. IC Markets also offers a demo account, and currently offers forex, CFD, and crypto trading. It’s definitely a popular platform for forex, and they just happen to offer PayPal services.

A few cons of IC Markets include a pretty limited product selection and notoriously slow live chat support. There is also no investor protection offered to clients outside of the EU.

Vantage FX – PayPal Forex Broker Runner-Up

Open an Account
Your capital is at risk.

Vantage FX is a PayPal forex broker that is ideal for those just getting into trading, as well as low overall fees to use the platform. Users of this platform can use PayPal to deposit and withdraw funds using PayPal. The minimum deposit for Vantage FX PayPal is $200. It costs nothing in commissions to use PayPal on the platform.

A few pros of Vantage FX include fast account opening, easy deposit and withdrawals with few hiccups, and an overall reputable platform for forex trading. This platform is also well-regulated and does not charge any inactivity fees.

A few cons of Vantage FX include a fairly limited selection of products, not-so-great customer service, and United Kingdom-only investor protection.

Admiral Markets – Best PayPal Forex Broker for Educational Tools

Open an Account
Your capital is at risk.

Admiral Markets is a PayPal forex broker that is ideal for the use of educational tools and materials, as well as those who want commission-free accounts. Users of this platform can use PayPal to deposit and withdraw funds using PayPal. The minimum deposit for Admiral Markets PayPal is $100. It costs about $0 in commissions to use PayPal on the platform.

A few pros of Admiral Markets include adequate regulation in multiple jurisdictions, tight spreads, and very fast trade execution speeds. Admiral Markets also offers a variety of trading tools, over 4,000 CFDs, and top-notch analytics. The platform also offers Islamic swap-free accounts.

A few cons of Admiral Markets include a lack of access for U.S. residents and an inactivity fee, which few brokers charge. Still, this platform is a fantastic one for those who want to start forex and gain some knowledge of the market.

AvaTrade – Best PayPal Forex Broker for Simple Account Opening

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

AvaTrade is a PayPal forex broker that is ideal for those who don’t want to deal with complex account opening processes, as well as free deposit and withdrawal options. Users of this platform can use PayPal to deposit and withdraw funds using PayPal. The minimum deposit for AvaTrade PayPal is $100. It costs nothing in commissions to use PayPal on the platform.

A few pros of AvaTrade include top-notch account opening processes, free deposits and withdrawals for PayPal, and some pretty good research tools that are available for free. In addition to CFDs and forex, AvaTrade also offers cryptocurrency trading. The platform is heavily regulated and it only takes a day to fully open an account and get verified. Currently, AvaTrade offers five different base currencies. If a demo account is a necessity for you, this is a great platform to try. Forex can be quite risky, so access to a “fake” account to play around with is an important part of the learning journey.

A few cons of AvaTrade include notoriously high inactivity fees and relatively average forex fees.

FP Markets – Best PayPal Forex Broker for Newbies

Open an Account
Your capital is at risk.

FP Markets is a PayPal forex broker that is ideal for beginners in forex trading, as well as those who want to take advantage of low forex fees. Users of this platform can use PayPal to deposit and withdraw funds using PayPal. The minimum deposit for FP Markets PayPal is $100. Deposits are free of charge, but there is a 0.5-2% withdrawal commission fee, depending on the volume and currency withdrawn.

A few pros of FP Markets include easy and lightning-fast account opening, fast deposits, and fast withdrawals, especially through PayPal.

A few cons of FP Markets include pretty high stock CFD fees, a limited portfolio of products, and a desktop platform that is a bit outdated.

eToro – Best PayPal Forex Broker for Copy Trading

Open an Account
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

eToro is a PayPal forex broker that is ideal for copy trading, as well as a top-notch social trading experience. This platform is mainly a forex and CFD broker. Users of this platform can use PayPal to deposit and withdraw funds using PayPal. The minimum deposit for eToro PayPal is $200. It costs about $5 in withdrawal commissions to use PayPal on the platform.

A few pros of eToro include a seamless account opening process and free stock and ETF trading for those who want to go beyond forex exclusively. Still, forex and CFD fees are quite low on this platform and quite useful for those who are more comfortable with foreign exchange. For forex, eToro currently accepts EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP. Forex benchmark fees are also quite low, and usually range between $13 and $8 for different currency pairs.

A few cons of eToro include only having one base currency and a lack of decent customer support.

Oanda – Best PayPal Forex Broker for API Offers

Open an Account
Your capital is at risk.

Oanda is a PayPal forex broker that is ideal for its attractive API offers, as well as access to excellent research tools and materials. Users of this platform can use PayPal to deposit and withdraw funds using PayPal. There is no minimum deposit to use PayPal on Oanda. It costs about $0 in commissions to use PayPal on the platform as well.

A few pros of Oanda include a user-friendly trading platform and very fast account opening processes. The trading fees are low, and the platform is regulated by the US, UK, Australia, Singapore, and more. The platform currently supports nine base currencies and even offers a demo account that beginners can use to get a feel for the forex market without actually risking any of their capital

A few cons of Oanda include a lack of stocks (Oanda is Forex and CFD only) and a lack of stock exchange listings. Customer support for this platform is also not available 24/7.

Markets.com – Best PayPal Forex Broker for Wide Range of Features

Open an Account
Your capital is at risk.
79,9% of retail investor accounts lose money when trading CFDs with this provider.

Markets.com is a PayPal forex broker that is ideal for those who want to access a wide range of features, as well as easy and fast account opening. Users of this platform can use PayPal to deposit and withdraw funds using PayPal. The minimum deposit for Markets.com PayPal is around $100 to $250. It costs nothing in commissions to use PayPal on the platform.

A few pros of Markets.com include free and speedy deposits and withdrawals for PayPal, easy-to-set-up accounts, and lots of educational tools. Markets.com is regulated by Cyprus, the UK, Australia, the British Virgin Islands, and South Africa. There are currently about eleven different base currencies supported and a demo account available. Markets.com also offers CFD, stock, blends, and forex trading.

A few cons of Markets.com include higher forex fees than many other brokers on this list, a limited portfolio of products, and a lack of important features found in many other broker platforms. The platform also charges an inactivity fee.

HYCM – Best PayPal Forex Broker for Variable Account Types

Open an Account
Your capital is at risk.

HYCM is a PayPal forex broker that is ideal for accessing a variety of account types, as well as low forex and CFD fees. Users of this platform can use PayPal to deposit and withdraw funds using PayPal. The minimum deposit for HYCM PayPal is $100. There are no commission fees required to use PayPal on the platform.

A few pros of HYCM include low forex and CFD fees, excellent educational materials for new traders, and easy account opening processes. HYCM is regulated by the UK, Cyprus, Dubai, and the Cayman Islands. With low fees and no withdrawal fees, HYCM is popular among forex traders. It only takes about a day to set up an account and there are six different base currencies supported. Users can trade forex, CFD, and crypto on the platform. The demo account offered by HYCM is also quite good, especially when used along with their educational materials

A few cons of HYCM include the fact that it only offers forex and CFD products, as well as an outdated user interface. HYCM also charges an inactivity fee.

IG – Best PayPal Forex Broker for Competitive Spreads

IG is a PayPal forex broker that is ideal for those who want competitive spreads, as well as fantastic educational tools and tutorials. Users of this platform can use PayPal to deposit and withdraw funds using PayPal. The minimum deposit for IG PayPal is 250 GBP. There are no commissions to use PayPal on the platform.

A few pros of IG include a top-notch user interface, excellent educational tools, and lots of options for deposits and withdrawals. This broker is regulated by the UK, E, US, Switzerland, Singapore, Japan, and many other authorities. It can take a little bit longer to open an account with IG, usually capped around three days. However, this is necessary in order to properly protect their clients’ accounts from fraud. IG offers six different currency pairs, a demo account, and IPOs.

A few cons of IG include higher forex and stock CFD fees than some other platforms, a limited range of products, and notoriously slow customer support.

Plus500 – Best PayPal Forex Broker for Mobile Trading

Plus500 is a PayPal forex broker that is ideal for mobile phone trading, as well as speedy and helpful customer and technical support. Users of this platform can use PayPal to deposit and withdraw funds using PayPal. The minimum deposit for Plus500 PayPal is $100. Deposits and withdrawals are free on the platform, but 6+ withdrawals in a month will be subject to a $10 commission fee.

A few pros of Plus500 include its easy-to-use platform, excellent account opening processes, and fast and helpful customer service. Plus500 is regulated by the UK, Cyprus, Australia, New Zealand, and a few other country authorities. The platform offers an impressive sixteen different base currencies, as well as an excellent demo account. Plus500 doesn’t have the best educational tools, so we would recommend using their demo account with third-party educational materials.

A few cons of Plus500 include a limited product range, bad research tools, and fairly average fees for CFDs. Plus500 has pretty slow execution speeds as well, and scalping is not permitted on the platform. CFDs are also the only product offered by the platform, and they do charge an inactivity fee.

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.

Should I Choose PayPal Forex Brokers?

Using Forex brokers that accept PayPal can be a convenient way to fund your trading account. Here are the pros and cons of using this payment method:

👍 Pros of using Forex PayPal brokers:

Convenience: PayPal is a widely accepted and secure payment method that is easy to use.

Speed: PayPal transactions are typically processed quickly, allowing traders to access their funds sooner.

Security: PayPal uses advanced security measures to protect its users' financial information and transactions, giving traders peace of mind.

Wide Availability: PayPal is available in many countries, making it a convenient choice for traders worldwide.

👎 Cons of using Forex PayPal brokers:

Fees: PayPal may charge fees for transactions, which can add up over time for frequent traders.

Limitations: Some countries may have restrictions on using PayPal for forex trading, limiting its availability for some traders.

Risk of chargebacks: PayPal allows for chargebacks, which means that a trader may be at risk of losing funds if a transaction is disputed.

Limited options: Not all forex brokers accept PayPal, so traders may have to choose from a limited pool of options.

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:

1

Log into your forex broker account: To start depositing or withdrawing money from your forex broker account, you need to log into your account using your account credentials.

2

Choose the deposit or withdraw option: Once logged in, look for the deposit or withdraw options in the account dashboard. Some PayPal brokers may have separate sections for depositing and withdrawing funds, while others may have a combined section.

3

Choose PayPal as the payment method: When depositing or withdrawing funds, choose PayPal as the payment method. Some PayPal brokers may have other payment options, such as bank transfers or credit cards, so choose PayPal.

4

Enter the amount: Once you have chosen PayPal as the payment method, you will need to enter the amount you wish to deposit or withdraw. Check the minimum and maximum deposit or withdrawal limits for your broker before entering the amount.

5

Confirm the transaction: After entering the amount, confirm the transaction by clicking the submit or confirm button. This will initiate the transfer of funds from your PayPal account to your forex broker account or vice versa.

6

Wait for the transaction to be processed: Depending on your broker and the payment method you have chosen, the deposit or withdrawal process can take anywhere from a few minutes to several days to complete.

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.

Best U.S. PayPal Forex Brokers

While all of the brokers on this list are fantastic to work with, not all of them are ideal or even available for U.S. residents. Currently, eToro and Oanda are U.S. regulated and offer a PayPal payment system that will suit your needs.

Should I Choose PayPal Forex Brokers?

Absolutely. If PayPal is your main financial institution, then these twelve forex brokers that accept PayPal are absolutely worth it. Just keep in mind that some of these brokers will accept withdrawals or deposits from PayPal, but not always both.

Summary

Our top picks include eToro, Admiral Markets, FxPro, Oanda, AvaTrade, IC Markets, Markets.com, HYCM, IG, Plus500, FP Markets, and Vantage FX. We would have to recommend Admiral Markets as one of the most dependable brokers out there.

Regardless, each of the twelve brokers we’ve covered is great for traders who want to stick with PayPal.

FAQs

Is PayPal safe to use?

PayPal uses security technologies and fraud prevention systems to keep customer accounts and transactions protected. As long as proper precautions are taken, like strong passwords and enabling two-factor authentication, PayPal is generally considered very safe to use.

Is there a minimum deposit required to use PayPal for Forex?

Minimum deposit amounts required by brokers covered in the article range from $100 to $250. PayPal does not impose a minimum transaction limit for typical personal use, but brokers may have their deposit floors.

How long do PayPal deposits/withdrawals take with Forex brokers?

Processing times vary but PayPal transactions usually complete within 1-3 business days. Instant funding options are also available for a small fee with some brokers like IC Markets and FxPro for near real-time access to funds.

Can I use PayPal to trade cryptocurrencies through a Forex broker?

Yes, brokers like eToro and AvaTrade allow deposits via PayPal for trading cryptocurrencies on their platforms in addition to forex. However, crypto availability and features vary between brokers.

Team that worked on the article

Oleg Tkachenko
Author and expert at Traders Union

Oleg Tkachenko is an economist-analyst and a risk manager with a practical experience of working in financial institutions for over seven years. Oleg specializes in the analysis of commodities, Forex, stock markets and non-standard investment markets (cryptocurrency, hypes, peer-to-peer lending). He holds a Master’s Degree from the Ukrainian Academy of Banking of the National Bank of Ukraine, Kharkiv Banking Institute. Oleg became an author for Traders Union in 2018; in 2020 he joined the TU’s team of financial experts.

At Traders Union, Oleg is involved in expanded reviews of brokerage companies, and in monitoring the relevancy of the information provided in them. He analyzes trading strategies and indicators, and prepares educational articles on the topic of finance. In addition, Oleg carries out expert research in the Forex and stock markets, and also binary options and cryptocurrency markets. In particular, he checks brokerage companies, studies their performance and growth, tests new services offered by brokers, software and the level of customer support.

Oleg’s motto: Information is a force that opens boundless opportunities, but requires relevancy!

Dr. BJ Johnson
Dr. BJ Johnson
Developmental English Editor

Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.

The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.

Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.

Mirjan Hipolito
Cryptocurrency and stock expert

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.