{"id":775,"date":"2016-11-21T07:23:27","date_gmt":"2016-11-21T07:23:27","guid":{"rendered":"http:\/\/www.makemoneytradingreviews.com\/?page_id=775"},"modified":"2020-09-30T15:12:04","modified_gmt":"2020-09-30T15:12:04","slug":"paypal","status":"publish","type":"page","link":"https:\/\/www.makemoneytradingreviews.com\/paypal\/","title":{"rendered":"PayPal Forex Brokers"},"content":{"rendered":"
As the Forex business keeps growing, all Forex brokers are looking to allow as many payment methods as possible in order to meet the preferences of the traders. Paypal is one of the best-known e-wallets around the globe, and the company has established an impeccable reputation. Everyone loves PayPal and uses the account for all online services like buying goods over the internet, paying clients from overseas, etc. PayPal made life easier and is a highly secure service. Trust and quality performance are the two factors that made PayPal famous.<\/p>\n
As we said, PayPal is the favorite payment method of many people, but it is not one of the standard payment methods in the Forex market. A handful of brokers can be found which allow PayPal, and the number reduced significantly in the recent period. There are several reasons behind this theory, and we will try to explain them. Some traders, PayPal lovers, and fans are ready to eliminate a broker if they do not accept PayPal payments. PayPal is known as one of the safest payment methods in general.<\/p>\n
PayPal is an American company with around 30 years of experience, and it has established a pristine reputation. The other PayPal benefit is that the e-wallet can be accessed in multiple countries around the world. It is not restricted to US citizens only. PayPal is one of the fastest payment methods, especially in comparison to wire transfers or credit cards. Your money arrives at your bank account before you know it. Likewise, it is convenient for fast withdrawals, too. Withdrawal requests with PayPal have very short waiting time. Regarding bank wire transfers, banks can be very cheeky with the fees incurred.<\/p>\n
Therefore electronic payment methods are more affordable. PayPal is also one of the more affordable methods with a 3% fee charge. It can even get better; many brokers out there cover PayPal fees for their clients, meaning you could withdraw fee-free. It is hard to argue against PayPal but yet it is not the favorite among Forex brokers<\/a>. They seem to prefer other electronic payment methods like Skrill<\/a> and Neteller.<\/p>\n One of the main setbacks of PayPal when it comes to Forex deposits and withdrawals is that traders cannot claim a chargeback. This is due to PayPal policy which clearly states that the item purchased must be a tangible, physical, material item that can be shipped. This means that Forex services do not fall under the Buyer Protection of PayPal and chargeback claims can end up in failure. The online Forex services like funding a Forex account are rather intangible goods, and chargebacks cannot be required under these circumstances (physical items only!).<\/p>\n Even if the number of PayPal brokers significantly reduced over the past two years, some of them continue to offer the PayPal method. Moreover, some brokers issue special promotions for PayPal users and ensure bonuses<\/a> or deposit bonuses<\/a> for PayPal users only. To find the best PayPal Forex broker, traders have to do the usual first. First, they can check out if the desired broker offers PayPal at all. If the answer is positive, they can switch to investigating other basic and important factors. Let us remind you what the steps are – The first step is to find a licensed broker who is registered with a reputable authority.<\/p>\n Then, try out the trading platform and carefully observe if it fits your needs and if it comes with all the features that are part of the latest market trends. You might also call customer support, not only to check in general if they are competent and forthcoming but also to ask if you can change your payment method if you should want to later. Some brokers allow this option, while others do not. It is always good to have options given that one never knows what can happen. Make a thorough market research and ask acquaintances who have certain Forex experience for advice. It is always good to have first-hand information, besides the one found on the Internet.<\/p>\nThe PayPal Forex Problem<\/h3>\n
Find a PayPal Forex Broker<\/h3>\n