Top picks for brokers using PayPal
Best broker for funding with PayPal – IG
| Company |
Overall Rating |
Minimum Deposit |
PayPal (Deposit/Withdraw) |
Average Spread EUR/USD - Standard |
 IG
|
 |
£250.00 |
Yes |
0.98 info |
IG is my pick for the best forex broker that allows users to make deposits and withdrawals with PayPal. IG is publicly-traded (LON: IGG), well-regulated, and licensed by over a dozen international regulatory agencies (IG has earned our highest possible Trust Score). I've been using, testing, and reviewing IG for close to ten years. In that time, IG has consistently stood apart from the competition due to its impressive offering of tradeable markets and excellent selection of trading tools. Minimum deposit requirements at IG will vary depending on your country of residence and can range from $250 or €300 euros to as much as 2,500 Swiss francs (CHF). Read my IG review.
No minimum deposit – CMC Markets
| Company |
Overall Rating |
Minimum Deposit |
PayPal (Deposit/Withdraw) |
Average Spread EUR/USD - Standard |
 CMC Markets
|
|
$0 |
Yes |
0.61 info |
A great choice for CFD and forex traders that want to use PayPal for funding their trading account, CMC Markets features competitive pricing and over 12,000 instruments spanning virtually every market and asset class. CMC Markets is highly regulated and publicly traded (LON: CMCX), and its Next Generation platform is powerful, versatile, and packed with plenty of customization tools and configuration options. Regardless of the CMC Markets entity you choose — U.K., Singapore, Australia, Germany, or Canada – there is no minimum deposit requirement at CMC Markets. Check out my CMC Markets review.
PayPal available in the UK – FOREX.com
| Company |
Overall Rating |
Minimum Deposit |
PayPal (Deposit/Withdraw) |
Average Spread EUR/USD - Standard |
 FOREX.com
|
|
$100 |
Yes |
1.4 info |
FOREX.com is a trusted brand that accepts PayPal deposits within the U.K. (and from a number of its global offices). The FOREX.com brand is part of the publicly traded StoneX group (NASDAQ: SNEX), and supports a wide variety of deposit currencies and payment methods. Although not available for corporate account holders or in certain countries (such as the U.S.), PayPal deposits at FOREX.com can be made with a minimum currency equivalent of 100 USD, EUR, or GBP per transaction. The maximum deposit transaction you can make with PayPal at FOREX.com is $50,000. Read my FOREX.com review.
Compare the best PayPal brokers
| Company |
Overall Rating |
Minimum Deposit |
PayPal (Deposit/Withdraw) |
Average Spread EUR/USD - Standard |
|
IG
|
|
£250.00 |
Yes |
0.98 info |
|
CMC Markets
|
|
$0 |
Yes |
0.61 info |
|
FOREX.com
|
|
$100 |
Yes |
1.4 info |
 City Index
|
|
£100.00 |
Yes |
1.4 info |
 XTB
|
|
$0 info |
Yes |
1.00 info |
 eToro
|
 |
$50-$10,000 |
Yes |
1 info |
 Capital.com
|
|
$20 info |
Yes |
0.67 info |
FAQs
What is PayPal?
PayPal is a digital payment platform that enables its users to send and receive electronic payments and make online financial transfers. PayPal customers link their credit card or checking account directly to their PayPal account, creating a digital payment option for a wide variety of payment scenarios.
An ecommerce titan, PayPal has processed billions of payment transactions across the globe and expanded its reach to over 200 countries and regions. Since its founding in 1998, PayPal has expanded its services to include credit cards and credit lines, cryptocurrencies, and business operations solutions.
Why use PayPal as a trading payment option?
I've found that it’s hard to beat PayPal when it comes to convenience, security, and ease of use. PayPal is fast, safe, and easy to navigate. Traders can quickly make instant deposits to (or withdrawals from) their forex trading accounts with a PayPal account. It’s also relatively affordable; PayPal doesn’t charge fees for opening a new account (though you might be liable for payment fees, depending on your payment method and country of residence).
Another thing that I appreciate about PayPal as a forex trader is that its global presence is massive and it boasts extensive international service coverage. PayPal is available in more than 200 countries and regions, and it supports 25 different currencies, including the USD, CAD, EUR, DKK, JPY, GBP, and INR.
Pros & Cons of funding your forex account with Paypal
Pros
- Traders can use PayPal from pretty much anywhere. PayPal’s international presence is extensive. Traders can send and receive payments in over 200 countries/regions.
- Dozens of supported currencies. PayPal supports 25 currencies, including (but not limited to) USD, EUR, CAD, JPY, and GBP. Check out the full list on PayPal’s website.
- Using PayPal is fast… In most cases, payments are instantaneous. Also, using PayPal to make withdrawals might actually be quicker than traditional bank account transfers.
- …and it’s also easy. It only takes a few clicks to fund an account (assuming your PayPal account is already set up - but account setup is pretty easy, too).
Cons
- You’ll need to open a PayPal account. Traders will need to open, set up, and maintain a PayPal account in order to use the service as a payment method.
- Withdrawing funds from PayPal isn’t immediate. It can take three to five business days for a withdrawal from PayPal to hit your bank account – and you may be charged a fee in the process.
How to deposit using PayPal
Though each forex broker’s process for funding or sending payments may vary slightly, I've listed out the most important steps for depositing funds with your forex broker using PayPal:
- Log in to your broker’s client portal or visit the funding page on your broker’s website.
- Read the broker’s payment/funding information to determine if PayPal is available in your region (sometimes your forex broker will accept PayPal – but only in certain countries or regions).
- Once you’ve selected PayPal as your payment method, you’ll be redirected to log in to your PayPal account.
- From within your PayPal account, you’ll need to authorize the payment to fund your brokerage account (and confirm the transaction details).
Note: I've found in my testing that some brokers require that you fund your live trading account with a credit card before allowing you to use PayPal as a deposit method. Always remember to follow the explicit instructions that come directly from your regulated forex broker’s website to protect yourself from scams. Check out my educational series about financial scams for some easy-to-follow tips for avoiding forex scams.
Alternatives to using PayPal
In my experience, the easiest and most straightforward alternative payment method (if you don’t have access to an e-wallet such as PayPal) for funding your trading account is simply to use a debit card. Other popular alternatives to using PayPal for funding your forex trading account are Skrill and Neteller – both of which are widely available in Europe (for other international regions, check with your broker directly to see if these methods are available).
In Asia, WeChat and FasaPay are popular methods for sending and receiving funds. Today, a growing number of brokers allow traders to make deposits using cryptocurrencies, such as bitcoin (check out our guide to the best bitcoin brokers).
PayPal fees
PayPal fees can range from a few dollars to as much as 1.5% of the transaction value. Therefore, PayPal can be a viable payment method for smaller amounts. However, if you are sending or receiving larger sums, it may end up being cheaper to wire the funds to your broker through your bank. It may be worth looking into an Automated Clearing House (ACH) or Single Euro Payments Area (SEPA) transfer, as bank transfers will have fixed fees – regardless of the amount sent.
Which forex brokers accept PayPal?
PayPal has become a popular payment method for traders looking for convenient ways to fund their forex trading accounts. However, not all forex brokers accept PayPal for sending and receiving funds (though the list of PayPal forex brokers continues to grow). Below, I've listed every forex broker that accepts PayPal
Which brokers accept PayPal in South Africa?
PayPal is available in South Africa for South African forex traders – though it’s worth noting that PayPal does not currently accept the South African Rand (ZAR) currency. A handful of the industry’s top forex brokers that accept clients from South Africa also support PayPal for sending and receiving funds:
IG – Best overall broker in 2024
IG is a trusted broker that offers brilliant trading tools and access to nearly every global market (over 19,500 tradeable assets). The minimum deposit size for clients of IG South Africa is 4,000 South African rand (ZAR). Read my IG review.
AvaTrade – Great for copy trading
AvaTrade stands out for its rich selection of trading platform options, and for its educational content for beginners. The minimum deposit at AvaTrade is generally 100 units of currency, depending on the denomination of your account balance. Read my AvaTrade review.
Plus500 – Good choice for beginner forex traders
Plus500 is a winner for less-experienced traders who desire ease of use when trading CFDs (including forex CFDs). The minimum deposit at Plus500 is generally 100 units of currency ($100 or equivalent) depending on your account denomination and the payment method you select from the client dashboard. Read my Plus500 review.
FP Markets – Great MetaTrader broker
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as traders use the MetaTrader platform. The minimum deposit at FP Markets is 100 AUD – or the currency equivalent. Read my FP Markets review.
Regulation in South Africa
South Africa is home to a Tier-2 regulatory agency in the Financial Sector Conduct Authority (FSCA) (you can follow the FSCA on twitter at https://twitter.com/fsca_za). Forex brokers are not obligated to become authorised by the FSCA, but carrying a Tier-2 regulatory license can be a signal of legitimacy to forex traders.
I always recommend using a well-regulated, highly trusted forex broker – learn more about the regulatory agencies and jurisdictions tracked at ForexBrokers.com by visiting our Trust Score page. If you are a resident of South Africa and you need help picking a forex broker, check out my guide to the best forex brokers in South Africa.
What are the best ways to deposit money for forex trading?
While some forex brokers may offer a greater variety of deposit options than others, almost every broker will, at a minimum, offer common methods such as bank wire or bank transfer (Automated Clearing House (ACH) in the U.S., or Single Euro Payments Area (SEPA) in Europe), or using a supported debit card such as VISA or Mastercard. PayPal is a popular choice due to the fact that your brokerage account can be credited almost immediately, (unless additional information is requested by your broker).
Does MetaTrader 4 accept PayPal?
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are trading platforms – not forex brokers, and therefore do not accept funds for trading. That being said, there are a growing number of regulated forex brokers that support MT4 and/or MT5 and accept PayPal for sending and receiving funds. To learn more about MetaTrader, check out our MetaTrader guide. If you are interested in the newest version of the trading platform, MetaTrader 5 (MT5), read our full MetaTrader 5 guide or check out my MT4 vs MT5 guide to learn about the differences between these two versions of the popular MetaTrader platform..
Our testing
Why you should trust us
Steven Hatzakis is a well-known finance writer, with 25+ years of experience in the foreign exchange and financial markets. He is the Global Director of Online Broker Research for Reink Media Group, leading research efforts for ForexBrokers.com since 2016. Steven is an expert writer and researcher who has published over 1,000 articles covering the foreign exchange markets and cryptocurrency industries. He has served as a registered commodity futures representative for domestic and internationally-regulated brokerages. Steven holds a Series III license in the US as a Commodity Trading Advisor (CTA).
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Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Tickmill
FP Markets
Pepperstone
Interactive Brokers
Saxo
Charles Schwab
Swissquote
AvaTrade
Plus500
FXCM
OANDA
Pepperstone
XM Group
Admirals
FP Markets
Tickmill
IC Markets
FxPro
Markets.com
FinecoBank
BlackBull Markets
Vantage
ThinkMarkets
HYCM (Henyep Capital Markets)
HFM
DooPrime
Questrade
ActivTrades
Trading 212
BDSwiss
Trade Nation
TMGM
Eightcap
Moneta Markets
Spreadex
MultiBank
Exness
ACY Securities
easyMarkets
RoboForex
VT Markets
Octa
IronFX
IFC Markets
Trade360
Axi
TeleTrade
iFOREX
FXOpen
FXPrimus
Xtrade
Forex4you
GBE brokers
Alpari
TopFX
Libertex (Forex Club)
LegacyFX
FXGT.com
ATFX
