Does AvaTrade support PayPal as of October 2023?
Yes, you can use PayPal to fund your account at AvaTrade.
Deposit features and brokerage service highlights
|💰 Deposit fee||$0|
|💰 Withdrawal fee||$0|
|💳 Deposit methods||Bank transfer, Credit/debit cards, PayPal, Neteller, Skrill, Klarna, Webmoney, POLi, Boleto, Perfect Money|
|💸 Account base currency||EUR, GBP, USD, CHF, AUD, ZAR, JPY|
|💸 Minimum deposit||$100|
|🗺️ Country of regulation||Ireland, Australia, Japan, South Africa, Abu Dhabi, British Virgin Islands, Israel|
|🎮 Demo account provided||Yes|
|📋 Read more||Check out the AvaTrade review for 2023|
- Funding your brokerage account with PayPal is fast and secure
- You can top up your PayPal account using your bank account and/or your debit/credit card
- Fees and withdrawal limits apply when using Paypal
- You cannot use PayPal’s chargeback service when funding your brokerage account
How to use PayPal to fund your brokerage account
The process is rather simple. As a first step you will need to link your bank account and/or credit and debit card to your PayPal account. You will then be able to transfer funds to your PayPal account.
The name on your bank account needs to match the name on your PayPal account. If the bank information is incorrect, the transfer will be returned and you will be charged a fee.
The transactions are highly secure as PayPal does not allow direct access to your bank account or credit/debit card.
Once your PayPal account is funded, you can transfer the money to your brokerage account. Note that some brokers will have a limit on the amount of money you can deposit with a single PayPal transfer.
Is depositing instant with PayPal?
That depends on the broker. Some brokers will process your deposit from your PayPal account instantly, at others it may take up to 3-5 business days for your deposits show up in your brokerage account.
Withdrawals with PayPal
Most brokers that accept PayPal will allow you to withdraw funds from your brokerage account to your PayPal account. Once the withdrawn funds are in your PayPal account, you can transfer the money via standard transfer to your linked bank account or cards.
The maximum amount you can withdraw to bank cards is $5,000 per transaction and there is a $25,000 limit per transaction on withdrawal to bank accounts. Instant transfers carry a fee of between $0.25 and $25. It typically takes one business day to transfer money from PayPal to debit/credit cards but transfers to a bank account may take up to 5 days to complete.
If you transfer funds through PayPal in different currencies, you will be charged a currency conversion fee.
Pros and cons of using PayPal
|Opening a PayPal account is free of charge||International transactions carry a fee|
|Sending money to your bank account and topping up your PayPal account is free of charge||A conversion fee will be applied if a transaction involves different currencies|
|Fast and secure transfers||Chargebacks (request for payment reversal) only apply to tangible goods purchases|
|You can link several bank accounts and/or credit/debit cards to your PayPal account|
Data updated on October 10, 2023
Does AvaTrade accept Revolut/Wise?
Yes, Revolut and Wise are available at AvaTrade.
Although Paypal, Revolut and Wise all offer the same services, they do it in different manners and at different costs. You may find that Revolut and Wise are cheaper alternatives, especially when it comes to international and/or multi-currency transactions.
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