For many traders, using PayPal can be a big convenience when moving money from one account to another, allowing them to transfer in different currencies with ease. That being said, not all brokers accept PayPal, as some can limit currencies or even slow down the process. With this in mind, I set out to identify the best brokers that accept PayPal deposits and withdrawals, with emphasis on those that make doing so simple and fast.
I started by only testing brokers that have a high level of trust and protection for their clients. This means being heavily regulated, as well as being well-known by the trading community at large. Another point that I made was to find those that offer multiple currencies via PayPal, in order to find brokers that can be useful to traders in as many regions as possible.
I checked the deposit and withdrawal process and times, and selected only those that do not charge fees. I compared the overall costs to trade at these brokers to find the best value for you. I also tested the platforms, favoring the ones that combine ease of use and strong analysis features.
Our team of experts has identified each broker’s strengths and weaknesses using FXEmpire’s comprehensive methodology.
FP Markets has been in business since 2005 and offers trading in forex, commodities, stocks, indices, ETFs, and cryptocurrencies. FP Markets is heavily regulated, with oversight from CySEC, ASIC, and FSCA. There is also an unregulated entity for offshore traders, registered in St. Vincent & the Grenadines.
PayPal Features:
FP Markets offers a large number of assets to trade, with over 10,000 CFDs available. The massive number is greatly influenced by the more than 10,000 stocks. The IRESS platform is a professional platform that has extensive technical analysis capabilities. Traders can also choose MetaTrader 4, MetaTrader 5, TradingView, and cTrader.Â
FP Markets offers low spreads in general, compared to the overall industry. An example of the spreads offered is a 1.0-1.2 pip spread in the EUR/USD, and GBP/JPY spreads ranging from 1.5-1.9 pips. There are no deposit or withdrawal fees, nor are there inactivity fees.
IC Markets has been around since 2007, and is known by traders globally. IC Markets offers over 2,200 tradable assets, including forex, indices, commodities, stocks, bonds, crypto, and futures, via the CFD markets.
The ability to trade so many markets allows traders to get global exposure and the ability to spread risk around the markets.Â
PayPal Features:
IC Markets offers over 2,200 markets to trade on its platforms. The platforms offered include MetaTrader 4, MetaTrader 5, TradingView, and cTrader. This allows most traders to find a platform they either know or are comfortable with. cTrader in particular is known for its excellent support of automated trading.Â
IC Markets also offers plenty of research and analysis tools, with Trading Central and Autochartist both available. The ability to fund in multiple currencies will also be useful to traders, as well as a free VPS service for those looking to automate their trading.
IC Markets has tight spreads in both the Standard and Raw accounts. The spreads overall are better than the industry average, which will make professionals happy about the cost savings. During the test, EUR/USD spreads on the Standard account ranged from 0.6 to 0.7 pips. The spread for Gold ranged between 18 and 20 cents. Raw accounts have a $3.50 commission per side, per lot, with even tighter spreads.
FxPro is a well-known and heavily regulated broker out of London. It has long been known for offering good trading conditions, and it also offers over 2100 markets for trading. The average execution of trades at FxPro comes in at an impressive 11 milliseconds.
PayPal Features:
FxPro has its own proprietary platform, which I used to test the broker. The platform is feature-packed and has a streamlined design that I found to be very intuitive to navigate. The platform has over 70 technical indicators, as well as several different chart configurations available. The design is one that makes it simple for even newer traders to use.
The order types on the platform include all basic and expected order types. One-click trading is also available, as well as strong watch list options, Depth of Market configuration, and flexible trading alerts. It is also impressive that the research offered at FxPro is integrated into the platform as well.
The FxPro Standard (commission-free) account has all-inclusive spreads starting at 1.2 pips. The ability to deposit without cost, including PayPal, will also make this an attractive broker.
The forex and CFD analysts and editors at FXEmpire bring together seasoned trading professionals and experienced financial journalists. Many of our experts have been featured in leading publications such as Investopedia and Forbes, and all of them combine strong industry credentials with hands-on trading experience.
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later, Dan gained insight into the forex industry during his time as a Series 3 licensed futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
Christopher Lewis is an experienced trader and technical analyst specializing on currencies, indices, and commodities. He also has been working as a proprietary trader for institutional accounts. Chris has been an FXEmpire analyst since the site's early days and shares his trading insights on his own blog, The Trader Guy. His sharp, practical understanding of the trading industry means he knows forex and CFD brokers inside-out, so you can trust his guidance on how they work and which one to choose.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.