Author: Eduardo Montero
Which brokers accept PayPal to deposit and withdraw funds in 2023?
PayPal has been a very popular payment method worldwide for many years now, thanks mainly to its ease of use, high level of security and speed. This has allowed it to become a benchmark in all types of online payments and more and more brokers are also accepting PayPal as a payment method to deposit and withdraw funds from your trading account.
After having thoroughly tested and analysed a large number of online brokers, in the following comparison table you can find the best brokers that allow you to use PayPal as a payment method:
| Broker | Key Features | Offer |
|---|---|---|
 Go to XTB | Accepted payment methods: Credit and Debit Cards, Bank Wire Transfer, Paypal, Skrill (MoneyBookers), NetellerWebsite: https://www.xtb.com/ Regulated by: FCA, CNMV, FSC Min Deposit: 0 € / $ Trading Platforms: WebTrader + iOS App + Android App Type of Execution: Market Maker / STP Available Instruments: Over 2100: Forex, indices, commodities, stocks, ETFs and cryptocurrencies. | Excellent customer support. (*) 77% of retail investors lose money when trading CFDs with this broker. |
 Go to IC Markets | Accepted payment methods: Credit and Debit Cards, Bank Wire Transfer, Skrill (MoneyBookers), Neteller, Paypal, Klarna, BitcoinWebsite: https://www.icmarkets.com/ Regulated by: CySEC, ASIC, FSA Min Deposit: 200 € / $ Trading Platforms: MetaTrader 4 + MetaTrader 5 + cTrader Type of Execution: ECN Available Instruments: More than 2250: More than 60 Forex currency pairs. Also offers commodities, indices, stocks, bonds, cryptocurrencies and futures. | |
 Go to FP Markets | Accepted payment methods: Credit and Debit Cards, Bank Wire Transfer, Paypal, Skrill (MoneyBookers), Neteller, FasaPayWebsite: https://www.fpmarkets.com/ Regulated by: CySEC, ASIC Min Deposit: 100 € / $ Trading Platforms: MetaTrader 4 + MetaTrader 5 + IRESS + cTrader Type of Execution: ECN Available Instruments: More than 10,000 tradable instruments: Forex, CFDs, indices, stocks, commodities, metals, cryptocurrencies and bonds. | |
 Go to Plus500 | Accepted payment methods: Credit and Debit Cards, Bank Transfer, Skrill (MoneyBookers), PaypalWebsite: https://www.plus500.com/ Regulated by: FCA, CySEC, ASIC, FSA, DFSA, FSCA Min Deposit: 100 € / $ Trading Platforms: WebTrader + iOS App + Android App Type of Execution: Market Maker Available Instruments: Over 2,000 CFDs: indices, currencies, commodities, cryptocurrencies, stocks, options and ETFs. | Free demo account with no time limit. (*) CFD Service. Your capital is at risk. |
 Go to eToro | Accepted payment methods: Credit and Debit Cards, Bank Wire Transfer, Skrill (MoneyBookers), Paypal, Neteller, KlarnaWebsite: https://www.etoro.com/ Regulated by: FCA, CySEC, ASIC Min Deposit: 200 € / $ Trading Platforms: WebTrader + iOS App + Android App Type of Execution: Market Maker Available Instruments: Over 3500: Large number of stocks (over 3100) and cryptocurrencies (over 75). Also commodities, currencies, indices and ETFs. | World leader in social trading. (*) Warning: 77% of retail CFD accounts lose money. |
What is PayPal?
PayPal is an American financial services company (PayPal Holdings, Inc). Founded in 1998, today it has an international presence and has become a leader and benchmark in electronic payment methods, surpassing other competitors with similar services such as Neteller, Skrill, WebMoney, Perfect Money,…
PayPal allows its users to send and receive money easily through the Internet and in a much faster way than other traditional means of payment such as bank transfers, cheques,…
Users link their credit/debit card or bank account to their PayPal account. When you want to send money (for example to add funds to a trading account with your online broker) you do not have to provide any personal, financial or bank details. It is enough to indicate your email address associated with your PayPal account. The operation of sending funds must be authorised by the user by logging into PayPal and the money is instantly transferred to the seller or service provider in a secure way and without unnecessary waiting.
To receive money is very similar to the deposit process. You provide the email address associated with your PayPal account and the funds are quickly transferred to your account. Generally they will be available in your PayPal account balance once received and you can choose to keep them there for future payments you will make through PayPal or withdraw them to your bank account or linked credit/debit card.
Why use PayPal to deposit or withdraw funds from your broker’s account?
It is difficult to beat PayPal’s performance in terms of simplicity, speed and reliability. PayPal is one of the fastest ways to deposit or withdraw funds from your online broker’s trading account if your broker accepts PayPal as a payment method.
Bank transfers are usually international and take up to 5 working days to send and receive the money. There may also be bank fees on these types of international wire transfers which can reduce the money you send to your trading account or the profits you withdraw from your broker’s account to your bank account.
With PayPal the movement of money is much faster and there are usually no or lower fees than with traditional banks.
Many users choose PayPal for the additionalsecurity of not having to provide their card or bank account details. It is much more convenient in terms of security to provide an e-mail address than your credit card details, which can fall into the wrong hands or generate doubts if it is the first time that we are going to work with a certain broker, seller or service provider that we do not know yet.
In addition to all this, PayPal takes care of another important issue when working with an online broker: currency exchange. Most brokers nowadays accept a wide range of currencies (such as USD, EUR, GBP, AUD, CAD, JPY,…) to deposit or withdraw funds from your account but not all of them do and the client may be located in a country whose currency is not accepted by the broker. In this case you can work with your local currency and PayPal takes care of sending and receiving the funds in one of the currencies accepted by the broker in exchange for a commission but in a way that is much easier and faster this type of conversion and transfer of funds.
To withdraw funds from your trading account through PayPal you must take into account an important aspect that most regulated bokers apply: to comply with security and anti-money laundering regulations imposed by financial supervisors, regulated brokers usually try to send funds in withdrawal requests through the same payment method by which they have been deposited. In this case, in order to be able to withdraw via PayPal, it is advisable that you have also used your PayPal account to deposit funds, as this way it has been verified to ensure that you are the account holder and are not depositing or withdrawing to a third party account. When verifying that the PayPal account belongs to you, the broker may eventually ask you for some additional proof such as a screenshot showing that the account belongs to you.
What are the best PayPal brokers?
See the table at the top of this page. In it we list and compare only the best brokers with a high level of reliability, properly regulated and that accept PayPal as a payment method for depositing and withdrawing funds from your trading account.
This post is also available in Spanish: brokers con paypal
Author: Eduardo Montero
Welcome to Mundo-Forex.com: I'm Eduardo Montero, I work professionally in IT. I started trading in the financial markets (mainly Forex) more than 10 years ago. I'm the author of the articles on this website and of many others published on other websites specialised in stock market investment and finance in general. Learn more about me here: About the author.