Which Prop Firm Can You Fund With PayPal?
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If you're too busy to read the entire article and want a quick answer, the best prop firm that accepts PayPal is Hola Prime. Why? Here are its key advantages:
- Is legit in your country (Identified as United States
) - Has a good user satisfaction score
- High payouts
- Favorable conditions for a funded traders
Prop Firms That Accept Paypal:
Topstep - Best for providing aspiring traders with simulated trading environments
Funded Next - Best for offering forex traders with Stellar account models
FTUK - Best for offering top tools to evaluate trading performance effectively
E8 Funding - Wide choice of challenge terms (customizable initial balance, drawdown, and payout levels)
City Traders Imperium - Best for traders with consistent results (salary potential, no major trading restrictions)
The payment method is among the features a potential prop trader must consider when choosing which prop platform to sign up with. You need a prop firm that incorporates international payment options like PayPal to prevent payment roadblocks when depositing or withdrawing from a prop firm. PayPal is one of the most popular payment methods due to its fast, secure, and convenient payment services. This platform provides an easy way to pay online without having to enter your credit card information every time with just a few clicks. So, in this article, TU experts will be reviewing prop firms that accept PayPal. Read on.
Comparison of the best prop firms that accept PayPal
Embarking on a journey into the world of prop trading demands careful consideration of various factors, including the payment methods offered by different firms. Our focus extends beyond mere acceptance to encompass crucial aspects such as transaction limits, fees, and processing times, empowering aspiring traders with the knowledge to make informed decisions. Navigate to learn how the firms that seamlessly integrate PayPal into their payment systems differ based on cost, profit share, etc.
| Prop firm | Cost | Profit Share | Maximum Daily Loss | Best For |
|---|---|---|---|---|
| Topstep | From $149 | Up to 90% | 4% | Providing aspiring traders with simulated trading environments |
| Funded Next | From $99 | Up to 90% | 5% | Offering forex traders with Evaluation, Express, and Stellar account models |
| FTUK | From $149 | Up to 80% | 2% | Offering top tools and resources to evaluate trading performance effectively |
| E8 Funding | From $228 | Up to 90% | 5% | Traders of all levels |
| City Traders Imperium | From $49 | Up to 100% | 5% | High-risk tolerance traders seeking higher drawdown and more leverage |
| Audacity capital | From $129 | Up to 85% | 5% | Skilled Forex traders |
| Earn2Trade | From $228 | Up to 90% | 2.2% | Providing traders with a suite of analytical tools |
Best prop firms that accept PayPal
Topstep
Topstep is a leading proprietary trading firm offering traders the opportunity to trade futures contracts. With a unique two-step evaluation process, traders can prove their skills on a simulated account before potentially receiving funding for live trading.
Topstep offers three account sizes: $50,000, $100,000, and $150,000. Regular pricing starts from $165/month, with frequent discounts available. Traders can leverage up to 1:100 and access diverse futures markets, including stocks, commodities, crypto, bonds, and metals. Commissions and fees charged on the Trading Combine (simulation account) align with those on a live funded account, helping traders develop skills for real markets.
Topstep supports traders with educational resources, including free group coaching, to enhance their chances of success.
Funded Next
Proprietary trading firm Funded Next has offices in the UAE, USA, and Southeast Asia and works with residents of all countries. It provides up to $200,000 with a growth potential of up to $4 million. The maximum leverage is 1:100. Funded Next offers 4 account types, which allows traders to select the best options. A partner’s profit share is 60%-95%, depending on his performance. The challenges are quite easy. To confirm his qualification, a user trades on a demo account, but the platform pays him 15% of his earnings in real funds. After that, the limits are minimal: minimum 2 trading days during challenge, up to 5% daily drawdown, and up to 10% overall drawdown. Partners trade on MetaTrader 4/MetaTrader 5, cTrader and can use the prop firm’s proprietary mobile app for account control.
FTUK
The British prop (proprietary) firm FTUK offers instant funding and standard accounts with a two-phase challenge to confirm the qualifications. The initial fee starts at £119 for a balance of $14,000. Initially, the maximum amount for a trader’s account is $90,000, but scaling up to $5,760,000 is possible for all accounts. There are no time limits at the funding stage. Traders can transfer positions overnight, trade news and during the weekends, use advisers, and copy trades. The only restriction is the total drawdown. FTUK works with the EightCap broker, which provides such trading instruments as currency pairs, cryptocurrencies, indices, commodities, and metals. The leverage is up to 1:50 on standard accounts and up to 1:100 on aggressive ones. Account currency is USD, EURO, or GBP. Trading is carried out through the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms and their mobile versions. This prop firm offers a referral program with payments of 10% of the initial fee of the invited user. As of the writing of this article, there is debate whether FTUK stands for “Federation of Trade Unions of Kyrgyzstan” or “Federation of Trade Unions Kawthoolei”. None of FTUK’s web content makes an effort to clarify the confusion. It is nonetheless interesting to note that FTUK is not listed among the 20 best brokers in Kyrgyzstan. And while Kawthoolei or Kaw Thoo Lei (meaning: “A Peaceful Land”) is located in Myanmar (Burma), FTUK is likewise not listed among the 20 best brokers in Myanmar. Thus, currently, it is unknown exactly what the acronym FTUK represents, only that it is registered in London.
E8 Funding
The E8 Funding proprietary trading firm is registered in the USA and the Czech Republic and works with traders in most countries without regional restrictions. It offers accounts with balances from $25,000 to $250,000 that can be increased to $1 million. There are no monthly fees, only initial fees from $138 (determined by the account type) are charged. Trading instruments include currency pairs, stocks, indices, energies, metals, and cryptocurrencies. Clients can trade on weekends, use advisors and bots, apply hedging, and copy trades. Trading is performed on MetaTrader 4 and MetaTrader 5 (including the mobile versions). Partners of E8 Funding keep 80% of their net profits, and 20% goes to the company. This profit split applies to all accounts and phases. The challenge is taken on real accounts in two or three phases (depending on the account type) and has time limits. After the challenge, the limits are standard: 8% overall and 5% daily drawdowns. There are no mandatory profit targets.
City Traders Imperium
City Traders Imperium is an educational and prop (proprietary) firm established in 2018 in the UK by two professional traders. Clients who have completed the evaluation stage and are funded by City Traders Imperium can receive a profit split from 70% to 100% when they trade successfully. The firm gives its own capital only to active market participants who trade themselves and do not copy the trades of other traders. City Traders Imperium offers plans for intraday trading and long-term strategies. A direct funding program is also available.
Audacity Capital
The prop (proprietary) trading firm Audacity Capital is unique in that it does not work with retail brokers. It cooperates with an institutional liquidity provider, which allows it to receive the tightest spreads. Professional traders can open an account with a balance of $15,000 without taking an entry test. For beginners, the company offers a two-stage challenge, which takes place on a demo account. In the future, partners of the prop trader will receive 50% or 75% of the net profit depending on the account selected. The maximum possible drawdown is 10%. At the same time, whenever clients reach a profit of 10%, their account balance doubles. The maximum balance is $480,000. There are no restrictions on trading strategies. Trading is possible only via the MetaTrader 4 platform.
Earn2Trade
The Earn2Trade educational company was established in 2017 and is headquartered in Wyoming, USA. It offers retail traders learning courses to become professionals, as well as virtual accounts to trade futures. The best students who trade successfully under set parameters are given access to capital of proprietary trading companies in amounts from $25,000 to $200,000. Earn2Trade has three rate plans with subscriber fees from $90 to $429.
How to use PayPal with a prop firm?
Before using PayPal with a Prop firm, you must register for an account on PayPal, have it verified, and read the Prop firm's payment policies. The next action is to register for an account with the prop company you wish to transact with. Essentially, you will be using PayPal for two operations on prop firms that accept PayPal, which is when you want to make payments or withdraw from your account.
Paying To The Prop Firm Using PayPal
Proprietary trading firms often levy charges like application fees, monthly subscription costs, or profit-sharing arrangements. Payment of the subscription fee will be required after you have chosen the program you wish to buy on a prop firm. Choose PayPal from the available payment options, and ensure you follow any additional instructions the company may have given you to guarantee that the funds are credited correctly.
Paying to the prop firm via PayPal offers several key features that enhance the transaction process:
PayPal only requires users to have an email address or mobile number linked to their account to process payments. For traders, this streamlines the payment process and saves time spent using conventional banking information
PayPal transactions are fast, enabling prompt payments to the prop firm. This speed is especially beneficial in the fast-paced world of trading, where timely transactions are crucial
PayPal protects user financial information with robust security measures
PayPal provides detailed transaction histories, allowing traders to track their payments to the prop firm efficiently
Receiving From The Prop Firm Using PayPal
PayPal is an option you add to your withdrawal payment method when it comes time to get your profit from trading on a prop firm. Follow the instructions provided by the prop firm for the withdrawal process, which might include requesting a withdrawal through their platform and designating PayPal as the withdrawal method. When the prop firm makes a payment into your PayPal account, the app will send you a message to let you know that you have money available. Receiving payments from the prop firm via PayPal offers several key features:
Transactions are typically swift, allowing for quick access to funds once the payment is initiated by the prop firm
PayPal provides a user-friendly platform for accepting payments, accessible on desktop and mobile devices, enabling traders to conveniently handle their finances while on the go
Traders and prop firms will have zero worries as PayPal employs robust security measures to safeguard financial information and transactions
Pros and cons of using PayPal with a prop firm
Most of the top prop firm’s decision to integrate PayPal comes as a response to the growing demand from traders for convenient and secure payment options. PayPal, renowned for its reliability, is a trusted online payment gateway, streamlining transactions with speed and convenience. Hereafter, we outline further advantages alongside potential drawbacks of adopting this payment avenue.
- Pros
- Cons
- With PayPal, traders can fund their trading accounts and take profits out with exceptional convenience and flexibility. You can access your funds whenever necessary, and it provides simple and fast transactions
- PayPal offers a practical means of transferring money between your personal bank account and your trading account with the prop firm
- PayPal provides cutting-edge security features, such as fraud prevention techniques and encryption, to safeguard your financial data
- Transferring money to and from prop trading companies situated across borders is made possible by PayPal's broad acceptance on a global scale
- Keeping track of your account balance and managing transactions is made easy with PayPal's user-friendly interface
- Certain transactions incur fees when using PayPal, like transferring money between your bank account and PayPal account and converting currencies. These costs have the potential to reduce your earnings if you transact often
- There might be restrictions on how much you can take out of your account in a given time frame. Hence, traders who must transfer substantial amounts of money may face challenges completing a transaction once
Note: You can contact your prop firm customer service to inquire about the availability of PayPal in your region. So, if you encounter any issues or have any inquiries regarding using PayPal with the prop firm, get in touch with their financial department or assistant team for assistance and clarification.
How Much Does a PayPal Transaction Cost?
Various factors influence the cost of a PayPal transaction, such as the transaction type, currency utilized, and geography. Nevertheless, the baseline rate for a PayPal transaction stands at 2.9% plus 30 cents. Domestic transactions within the same country incur no charges, except for a 2.9% transaction fee alongside a fixed fee if the transaction is funded through a credit or debit card.
For international transactions, PayPal imposes a fixed fee tied to the received currency alongside 5% of the transaction sum. An international fee ranging from 0.99 USD to 4.99 USD applies, with potential extra charges for currency conversion.
When services are paid for via PayPal, the recipient incurs a fee. Typically, this comprises a fixed charge plus 2.9% of the transaction total. Furthermore, withdrawal fees may be incurred when transferring money from a linked PayPal account to a bank account or debit card; these fees vary based on the withdrawal method and the country.
Prop firm Fees
Prop firms may not be charging users for deposits. Fees associated with prop trading include those for platforms, withdrawal requests, commissions, subscriptions, evaluations, inactivity, etc. Contacting your prop firm customer care is best when researching the prop trading fees, especially when depositing funds or withdrawing profits.
Expert Opinion
PayPal's widespread acceptance and user-friendly interface make it a convenient option for traders seeking quick and efficient fund transfers. One concern is the fees associated with PayPal transactions, including deposit, withdrawal, and currency conversion fees, which can eat into traders' profits over time. Furthermore, PayPal's terms of service and regulations may restrict certain types of transactions in some countries. PayPal is not available to Prop traders based in countries where it does not accept residents.
Conclusion
PayPal's widespread acceptance and user-friendly interface streamline fund transfers, saving time and effort. However, traders should consider potential drawbacks, such as transaction fees, currency conversion fees, and PayPal's regulations limiting certain transactions. Despite these considerations, PayPal remains a popular choice for depositing and withdrawing funds in proprietary trading firms, providing a balance of convenience and security for traders seeking efficient payment solutions.
Methodology for compiling our ratings of prop firms
Traders Union applies a rigorous methodology to evaluate prop companies using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.
Key aspects of the assessment include:
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Trader testimonials and reviews. Collecting and analyzing feedback from existing and past traders to understand their experiences with the firm.
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Trading instruments. Companies are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
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Challenges and evaluation process. Analyzing the firm's challenge system, account types, evaluation criteria, and the process for granting funding.
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Profit split. Reviewing the profit split structure and terms, scaling plans, and how the firm handles profit distributions.
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Trading conditions. Examining leverage, execution speeds, commissions, and other trading costs associated with the firm.
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Platform and technology. Assessing the firm's proprietary trading platform or third-party platforms it supports, including ease of use, functionality, and stability.
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Education and support. Quality and availability of training materials, webinars, and one-on-one coaching.
FAQs
Why is it beneficial to use PayPal for transfers?
Using PayPal for transfers is beneficial due to its widespread acceptance, user-friendly interface, and additional security measures such as encryption and buyer/seller protection.
Does PayPal Work in My Country?
PayPal's availability varies by country, with many countries supporting its services, but some regions may have restrictions or limited functionality. Contact the customer care to verify if it is available in your Jurisdiction.
How Long is Deposit and Withdrawal With PayPal?
Deposit and withdrawal times with PayPal can vary, typically ranging from a few minutes to several business days, depending on factors such as the recipient's location and transaction volume.
What currencies are supported for PayPal transactions?
PayPal supports transactions in the following currencies: USD, EUR, GBP, JPY, CAD, AUD, BRL, CNY, DKK, CZK, HUF, MXN, ILS, HKD, NZD, PHP, TWD, SGD, CHF, THB, SEK, PLN, NOK, MYR. Currency conversion services are available for international transactions.
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Team that worked on the article
Peter Emmanuel Chijioke is a professional personal finance, Forex, crypto, blockchain, NFT, and Web3 writer and a contributor to the Traders Union website. As a computer science graduate with a robust background in programming, machine learning, and blockchain technology, he possesses a comprehensive understanding of software, technologies, cryptocurrency, and Forex trading.
Having skills in blockchain technology and over 7 years of experience in crafting technical articles on trading, software, and personal finance, he brings a unique blend of theoretical knowledge and practical expertise to the table. His skill set encompasses a diverse range of personal finance technologies and industries, making him a valuable asset to any team or project focused on innovative solutions, personal finance, and investing technologies.
Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.
As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.
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).
Xetra is a German Stock Exchange trading system that the Frankfurt Stock Exchange operates. Deutsche Börse is the parent company of the Frankfurt Stock Exchange.
Cryptocurrency is a type of digital or virtual currency that relies on cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies operate on decentralized networks, typically based on blockchain technology.
Forex trading, short for foreign exchange trading, is the practice of buying and selling currencies in the global foreign exchange market with the aim of profiting from fluctuations in exchange rates. Traders speculate on whether one currency will rise or fall in value relative to another currency and make trading decisions accordingly. However, beware that trading carries risks, and you can lose your whole capital.
Forex leverage is a tool enabling traders to control larger positions with a relatively small amount of capital, amplifying potential profits and losses based on the chosen leverage ratio.
A futures contract is a standardized financial agreement between two parties to buy or sell an underlying asset, such as a commodity, currency, or financial instrument, at a predetermined price on a specified future date. Futures contracts are commonly used in financial markets to hedge against price fluctuations, speculate on future price movements, or gain exposure to various assets.
