Intro and winners
How did BrokerChooser select the best forex brokers using PayPal?
- We checked whether the broker is regulated by a trusted regulator,
- Made sure the broker accepts Paypal for deposit/withdrawal,
- Specifically compared fees,
- Checked minimum deposit requirements,
- Opened an account and tested the platform (charting, features, usability) with real money.
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology.
Best PayPal forex brokers in 2023
Comparison of the top forex brokers using PayPal in 2023
There are many good brokers for trading currencies out there, but the ones in our toplist go the extra mile and also accept PayPal withdrawal and deposits.
| Name | FX commission per lot | Currency pairs | Account activated in |
|---|---|---|---|
| Forex.com | No commission is charged | 91 | 1-3 days |
| IG | No commission is charged | 205 | 1-3 days |
| Oanda | No commission is charged | 70 | 1-3 days |
| eToro | No commission is charged | 49 | 1 day |
Best PayPal forex brokers in 2023
Fee comparison for the top PayPal forex brokers
How much you pay in fees for a trade is a crucial broker selection criteria. We compared the different fees and minimum deposit requirements for you at the top brokers that accept PayPal.
| Forex.com | IG | Oanda | eToro | |
|---|---|---|---|---|
| Deposit fee | $0 | $0 | $0 | $0 |
| Withdrawal fee | $0 | $0 | $0 | $5 |
| Inactivity fee | Yes | Yes | Yes | Yes |
| Minimum deposit | $100 | $0 | $0 | $10 |
| Deposit and withdrawal user-friendliness | Great | Great | Great | Great |
Best PayPal forex brokers in 2023
Forex fees at the top PayPal forex brokers
See the spreads charged by these brokers for the most poopular currency pairs.
| Forex.com | IG | Oanda | eToro | |
|---|---|---|---|---|
| EURUSD spread | 1.3 | 0.6 | 0.9 | 1.0 |
| AUDUSD spread | 1.3 | 0.6 | 1.4 | 1.0 |
| GBPUSD spread | 1.1 | 1.5 | 1.2 | 2.0 |
| EURCHF spread | 2.8 | 3.0 | 1.5 | 5.0 |
| EURGBP spread | 1.6 | 1.5 | 1.2 | 1.5 |
We collect spreads regularly, please check the tooltip for the date of the data collection.
Best PayPal forex brokers in 2023
How to use PayPal with forex trading?
The ability to quickly fund your forex trading account is essential. You can link your bank account and/or credit and debit cards to your PayPal account. This will allow you to make deposits and withdrawals iin a fast and easy manner. The transactions are highly secure as PayPal does not allow direct access to your bank account, or credit/debit card.
You can withdraw money out of PayPal by standard withdrawals/transfers to your linked bank account or cards. There is a withdrawal limit of $5,000 per transaction to bank cards, and a $25,000 limit per transaction on withdrawal to bank accounts. Instant transfers have a fee of between $0.25 and $25.
Make sure the name on your bank account matches the name on your PayPal account. If the bank information is incorrect, the transfer will be returned and you will be charged a fee. Withdrawals to bank accounts are typically done within one business day, but the amount may take up to 5 days to show up in your bank account depending on the bank you use.
Be aware that a currency conversion fee may apply when transferring funds through PayPal.
What are the pros and cons of using PayPal?
The advantages are:
- Transferring funds is fast and secure. Sending money to your bank account or adding money to your PayPal account is free.
- You can link several bank accounts or credit or debit cards to your PayPal account.
- Opening a PayPal account is free.
The disadvantages are:
- A fee applies when you send or receive international payment.
- A coversion feel may apply if the transaction involves different currencies.
- Chargebacks (request for payment reversal) only apply to tangible goods purchases, not to trading.
What makes a good forex broker? It has to be user-friendly, offer fair forex fees and good withdrawal options with low fees. We put together the list of top forex brokers if you want to see other broker options.
Best PayPal forex brokers in 2023
Get the best brokers tailored to your needs
Didn't find the best broker for you? Answer a few questions and get a personalized broker list!
Your broker toplist will be selected based on your answers.
And now, let's see the best forex brokers that accept PayPal one by one, starting with the winner, Forex.com.
#1 Best PayPal forex brokers in 2022
Forex.com
Recommended for forex traders looking for low fees and great research tools
| Forex.com snapshot | |
|---|---|
| Minimum deposit | $100 |
| Mobile app score | 4.3 stars |
| Deposit method | Bank transfer, Credit/debit cards, Skrill, Neteller |
| Withdrawal method | Bank transfer, Credit/debit cards, Skrill, Neteller |
| Withdrawal fee | $0 |
| Currency pairs | 91 |
| Inactivity fee | Yes |
| Read review | For a detailed analysis of Forex.com services, check out our review for 2023 |
#2 Best PayPal forex brokers in 2022
IG
Recommended for traders of any experience level looking for an easy-to-use trading platform
| IG snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 5.0 stars |
| Deposit method | Bank transfer, Credit/debit cards, PayPal |
| Withdrawal method | Bank transfer, Credit/debit cards |
| Withdrawal fee | $0 |
| Currency pairs | 205 |
| Inactivity fee | Yes |
| Read review | For a detailed analysis of IG services, check out our review for 2023 |
#3 Best PayPal forex brokers in 2022
Oanda
Recommended for forex traders who value a user-friendly platform and great research tools
| Oanda snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 5.0 stars |
| Deposit method | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller |
| Withdrawal method | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller |
| Withdrawal fee | $0 |
| Currency pairs | 70 |
| Inactivity fee | Yes |
| Read review | For a detailed analysis of Oanda services, check out our review for 2023 |
#4 Best PayPal forex brokers in 2022
eToro
Recommended for traders interested in social trading (i.e. copying other investors’ trades) and zero-commission stock trading
| eToro snapshot | |
|---|---|
| Minimum deposit | $10 |
| Mobile app score | 4.9 stars |
| Deposit method | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, China UnionPay, Klarna, POLi, iDEAL |
| Withdrawal method | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, China UnionPay, Klarna, POLi, iDEAL |
| Withdrawal fee | $5 |
| Currency pairs | 49 |
| Inactivity fee | Yes |
| Read review | For a detailed analysis of eToro services, check out our review for 2023 |
Best PayPal forex brokers in 2023
FAQ
Can I use PayPal to trade?
Yes, there are several brokers, including forex brokers, that allow you to use PayPal to fund your trades. You have to make sure you have a PayPal account. An increasing number of brokers accept PayPal because they recognise that traders value the safety and speed that PayPal offers.
Will PayPal cover me if I get scammed?
PayPal is considered one of the safest e-payment options. However, if you get scammed by a scam broker, PayPal will not cover your damages. In its user agreement, PayPal says that its liability is limited with respect to your PayPal account and your use of the PayPal services.
PayPal recommends that you report any suspected instances of fraud, such as unauthorised activity on your PayPal account or if you receive fake PayPal emails. Change your password and update your security questions if you think your account has been compromised. PayPal has a “Resolution Centre” on its website where you can report issues. It also provides a list on how to spot fake emails or messages.
If you want to learn more about ways to spot a scam broker, head to this article detailing forex scams.
Does MetaTrader 5 accept PayPal?
MetaTrader 5 (MT5) is not a broker but a platform for trading used by many brokers. As such, you will not be depositing/withdrawing money on MT5 but rather in the secure client area of your broker. PayPal has become a popular money transfering service among traders looking to deposit funds when opening a forex trading account. Our top recommended broker using PayPal, Fusion Markets also has MT5 as a trading platform.
Best PayPal forex brokers in 2023
Bottom line
Now that you've seen the details, let's zoom out. Here is the summary of the best forex brokers that accepts Paypal in 2023:
| Forex.com | IG | Oanda | eToro | |
|---|---|---|---|---|
| Deposit and withdrawal score | 4.5 stars | 4.5 stars | 4.2 stars | 3.8 stars |
| Forex fee class | Low | Average | Low | Low |
Forex.com is our winner, the best forex broker that accepts PayPal based on our analysis.
Pick the winner or any runner-up and take the next step in your investment journey. Let us know what you think in the comments section.
Still unsure which app and broker to choose? Use our broker finder tool to find the best app for you or learn more about investing your money.
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