Trading The Forex Market With Reliable & Authentic PayPal Forex Brokers
PayPal is one of the most popular modes of online payment systems that continue to be a favorite among a significant majority of the online retail FX trading market. PayPal offers a highly secure and convenient platform for depositing and withdrawing funds through state-of-the-art payment protocols, which ensures that users from all over the world can initiate a fast payment to or from any PayPal vendor within the matter of a few seconds. PayPal addresses the global need to ensure a secure payment option without making any compromises on the speed of transactions. Bank wire transfers are still considered to be at the forefront of Forex account funding with several mainstream FX brokerages, while several brokers only accept Wire Transfers to satisfy the various Anti-Money Laundering laws that are applicable in their region. On the other hand, professional Forex trading may require traders to make a fast deposit to satisfy their account’s minimum margin requirements during volatile market conditions, or they might need to make a quick withdrawal to meet their personal or business expenses. Traditionally, markets such as Forex trading and all other forms of investments used to depend on the traditional banking system to facilitate global fund transfers. Nowadays, Forex trading has become popular among smaller traders that have necessitated the need for fast money transfers for depositing and withdrawing a smaller trading capital. Therefore, PayPal has indeed helped traders to fund their trading accounts instantly without having to wait for 3 or 4 days for their funds to arrive through a traditional wire transfer. The speed of a PayPal payment, along with the added convenience of making a payment through an easy-to-use payment portal has enabled PayPal to continue its market dominance, despite the arrival of several competing online payment processors.
A Brief History Of PayPal & Its High-Profile Stakeholders
PayPal was co-founded by none other than Elon Musk, a visionary entrepreneur that is popular for his exemplary technological advancements in the automotive sector and space programs. PayPal is an American financial company that is listed on the NYSE, with a net market cap of over $46 billion. PayPal was conceived in the late 90s when the internet was on the verge of being accepted into the public consciousness. Soon after, the company was acquired by eBay and has had two subsequent IPOs to make PayPal one of the largest publicly traded entities in the US financial markets. In 2015, PayPal was given an independent status, which has grown to over 188 million users in over 190 countries around the world. As of recent estimates, PayPal transacts an average of $230 billion in currency transactions every year.
Why Should You Trust PayPal As A Valid Funding Option?
PayPal has many positive attributes that have helped the company to become a popular alternative to the conventional forms of payments such as checks, wire transfers, and money orders. Here are some of the key advantages of PayPal and why you should consider the payment option for all of your Forex funding requirements.
• Security of Funds & Online Payments – PayPal employs the latest encryption protocols and safety features that facilitate a secure environment for making payments to Forex brokers or other accepted vendors. PayPal seeks to improve their security features on a constant basis, which guarantees that all users get equal treatment, regardless of their account balance. PayPal is certainly one of the most trusted e-payment processors in the market for making deposits and withdrawals at their preferred Forex brokerage.
• Fast Processing – PayPal transfers ensure instant deposits and money transfers, which are carried out within a few micro-seconds. PayPal does maintain a highly transparent payment portal that promises to offer a conflict-free environment for both individual account holders and allied vendors.
• Comparatively Lower Fees Of Transactions – Although PayPal transactions include a fee for outward transactions, it is usually less than the costs incurred in other forms of payments such as credit/debit cards and bank wires. It is also to be noted that PayPal only charges for inward remittances, while all outward payments are free of cost.
• Follows All AML Laws – PayPal has an enormous amount of presence in the global markets and entertains users from more than 190 different countries. Therefore, it is imperative for PayPal to follow all regulatory policies and adhere to strict Anti-Money Laundering laws according to the directives set forward by the IMF and other global agencies.
• Facilitates Both Small And Large Payments – PayPal is an online payment platform, and naturally eliminates all the costs and drawbacks that are associated with bank wires or other local forms of payments. Therefore, PayPal does not have any minimum or maximum payment threshold for verified accounts, which allows for traders to make a small or huge payment according to their broker’s account requirements.
• Allows Deposits & Withdrawals Via Credit/Debit Cards – PayPal allows its users to link their credit/debit cards to their PayPal accounts, which can then be used to make payments or accept payments at all PayPal approved merchants. Therefore, traders don’t have to worry about funding their PayPal accounts in order to make a payment.
Forex Brokers Accepting PayPal Along With Other e-Payment Options
These days, most Forex brokers try to offer an all-inclusive Forex trading service that aims to cater to the exact requirements of the modern trader preferences. Funding is an important part of Forex trading, and it is vital for brokers to incorporate several funding options to ensure that they cover a vast majority of the retail trading market. Therefore, it is common for PayPal Forex brokers to integrate other payment options such as Skrill, Neteller, and Bitcoins, which are some of the other popular online payment processors in the market. Brokers may charge different fees and impose different account margin requirements according to the mode of payment, but the overall Forex trading conditions should remain the same. Forex trading should be built on trust, and it is the duty of a Forex trading company to provide you with the best option in the market that facilitates and safe and secure trading environment.
Drawbacks & Precautions To Take While Trading With PayPal FX Brokers
One of the primary disadvantages of the payment processor is the alarmingly small number of Forex brokers accepting PayPal. PayPal used to be a preferred choice of payment method for most Forex brokers during early 2000s, but several regulatory changes and increased competition from alternate payment systems has led to a steady decline in the number of PayPal FX brokers. Therefore, it is becoming increasingly difficult to find a Forex broker that accepts PayPal deposits. Regardless of the presence of the PayPal logo on a Forex broker’s website, you should ensure that the broker does indeed accept PayPal as per your country of residence, as PayPal might not be an accepted form of Forex payment for many jurisdictions. Another significant drawback of PayPal is the fees of transactions. Even though PayPal has lower fees than bank wires or other local forms of payments, PayPal might charge more fees than its immediate rivals. Some brokers may also levy an inconvenience fee; therefore, have a clear understanding of all the hidden fees of deposits/withdrawals before choosing PayPal as your preferred funding option. PayPal is also becoming increasingly difficult to use, mainly due to the KYC norms and increased regulatory requirements. An increase in regulatory compliance is certainly a positive aspect, but too much regulatory protection will create more harm than good. For instance, PayPal stipulates several minimum/maximum transfer limits on accounts from certain geographic locations due to the Government interference of existing sanctions, which can turn away potential clients that abide by the law. Therefore, PayPal may not be suitable for all Forex traders.
Are There Any Cheaper Alternatives To PayPal Deposit For Forex Trading?
There are plenty of PayPal alternatives in the market that offer lower fees of transactions. In fact, several new Forex payment options provide a highly secure transfer platform for a fraction of the transfer costs. Nevertheless, traders who have been using PayPal deposits for Forex trading will continue to use the option due to its dependability, reliability, the speed of transaction, and safety of funds. Open a PayPal account today to experience the benefits and to adopt it as your preferred mode of payment for your FX trading accounts.