Best Ways to buy stocks with PayPal
If you’d like to learn how to buy stocks with PayPal, this guide reveals all details about the process. We begin with a basic explanation of how this service works and the steps to use it to purchase stocks with it. Our expert team covers the best brokers to use when investing in stocks with PayPal and discusses the benefits, fees, and safety features offered by this payment method. Keep reading to learn everything about how to invest with PayPal!
Start trading stocks with DegiroCan you buy stocks with PayPal?
PayPal is a digital payment system available in over 200 countries. It was established in the United States in 1998, so it has a long tradition and reputation as a reliable online payment service.
The critical thing to understand is that PayPal isn’t a stock brokerage platform. However, that doesn’t mean that you can’t buy stocks with PayPal. That’s not only possible but also very simple. You only need a brokerage account on the desired platform, and it should have PayPal among the supported methods. Many trading platforms support depositing and withdrawing money with this e-payment service.
PayPal (PYPL) stock forecast for 2024, 2025, 2030How to buy a stock with PayPal
Now that we answered the “can you buy stocks with PayPal” question with a yes, let’s see how to start trading with this payment option. Here are the steps to follow to start investing:
Register a PayPal account. The first thing you need is to sign up for an account on the platform. Visit the PayPal homepage, click Sign Up, and follow the simple steps to register.
Load up your PayPal balance. You need to connect a debit or credit card or transfer funds by using a bank account.
Sign up for a trading account. Pick the desired brokerage platform and sign up for an account. The actual registration process is free and simple. You’ll need basic personal info and the desired username and password.
Confirm your identity if necessary. Some platforms will require you to confirm your identity before depositing with PayPal. That’ll include providing proof of identity and address, so uploading a photo of your SSN or ID card and a utility bill or another document that proves your address.
Deposit funds with PayPal. Visit the cashier page and choose PayPal as the deposit method. You can invest PayPal funds or deposit with the card connected to your account.
Purchase the desired stocks. Now that the funds are in your brokerage account balance, you can use them to buy the desired stocks. Navigate to the desired asset and choose the option to purchase it.
Best brokers to invest in stocks with PayPal
IC Markets – Best for stock 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, stocks, 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.
What stocks to buy nowAdmiral Markets
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.
New meme stockseToro – Best for free US stocks trading
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 EUR/USD, GBP/USD, AUD/USD, EUR/CHF and EUR/GBP. 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.
Top growth stocks to buy nowBenefits of buying stocks with PayPal
Why would you invest with PayPal on brokerage platforms? If you are still having second thoughts about whether to use this payment method, here’s an overview of its benefits:
Instant deposits. It only takes a minute to enter your PayPal details and deposit funds, while the processing time is usually instant.
No need to share card details. If you don’t feel comfortable sharing card data with the brokerage platform, PayPal is an excellent alternative. You only need to enter PayPal wallet details to finalize the transaction.
Available via desktop and mobile devices. Most brokerage platforms have mobile-friendly platforms or dedicated apps. You can use PayPal regardless of the device used to access the trading account.
Free and simple to use. Registering a PayPal account is free, and payments to most brokerage platforms come without any deposits. Additionally, even newbies will find PayPal easy to use since it doesn’t require any tech knowledge. The platform is intuitive and offers access via a website or a free mobile app.
As for PayPal’s downsides, the main drawback is that not too many stock brokers support this payment option. Although you can use the service in over 200 countries, only a limited selection of trading platforms accepts it. Fortunately, many reputable brokers include it in the available payment choices.
How To Make Money in StocksWhat are PayPal transaction fees?
If you want to invest using PayPal, here is the good news – you probably won’t have to pay any fees when depositing funds to your brokerage account. PayPal doesn’t charge a fee when purchasing items online or in-store as long as no currency conversion is part of the deal. So, if you are depositing in USD and already have dollars in your PayPal account, the platform won’t charge any transaction fees.
Brokerage platforms usually don’t charge deposits either, although this depends on the broker you pick. However, things are different for withdrawals. They might have a processing charge when you decide to request a money transfer to your PayPal account.
Brokerage Fees Definition and ComparisonIs PayPal a safe payment option?
Now that you know how to buy stocks with PayPal, you’d like a confirmation if it’s safe to use for trading. Here are some reasons why this payment service is safe:
Popular and widely used worldwide. PayPal has over 400 million active users, and it processes thousands of transactions daily, making it highly reputable among users.
Encrypted transactions. The platform applies encrypted security features on both sections, with the sender and the receiver, to guarantee the transaction will be secure.
Fraud protection and prevention. PayPal has a team that monitors transactions around the clock, which reduces the risk of email phishing, fraud, or identity theft. 24/7 fraud protection also means the platform will act quickly if anything suspicious occurs.
Summary
PayPal is a simple and safe method to buy and trade stocks via brokerage platforms. It’s an online digital wallet that makes depositing easy and ensures you don’t share sensitive card info outside the platform. Advanced safety features and free deposits are among other reasons why you should try PayPal. We recommend giving this payment method a shot, as it could end up being your favorite option to buy stocks in the future!
FAQ
Can I use PayPal to trade?
You can’t trade with PayPal because it’s not a brokerage platform. However, you can use that payment service to deposit funds to a trading platform and invest in stocks.
Will PayPal refund me if I get scammed?
PayPal has a purchase protection system for buyers. You can open a dispute if there was an unauthorized transaction or you didn’t get what you paid for, and the team will investigate and approve a refund if deemed your purchase falls in one of these categories.
Is it safe to sell with PayPal?
PayPal has been around for over 20 years, and it’s famous for its excellent security level, so it’s safe to sell and buy with this payment system.
Does it cost money to buy stocks on PayPal?
There won’t be any extra fees involved when using PayPal, so you’ll only pay the price of stocks you plan to acquire.
Team that worked on the article
Aneeca Younas is a math wizard with extensive knowledge in research, data mining, forum commenting, and all types of writing and editing. As a contributor to the Traders Union website, Aneeca’s goal is to help newcomers and experienced users have the best possible information.
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.