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Best PayPal Forex Brokers

May 09, 2022
Last modified June 01, 2022

Once you’ve made the decision to start trading forex, there are some important things to consider before taking your first leap into the massive global forex market. Most importantly, the forex broker you choose should be regulated and trustworthy.

After choosing a forex broker, you’ll need to decide how you want to fund your forex account. If you want to place trades in a live account – and ultimately make money trading forex – you need to have a reliable payment method for depositing and withdrawing funds.

Thanks to its convenience, worldwide availability, and the vast number of supported currencies, PayPal has become a popular option for traders looking for ways to fund their forex brokerage accounts.

To help you decide if PayPal is the right option for you, the team at BrokerNotes created this guide that explores the good and the bad that come with using PayPal, and answers some of the questions you might have about funding your forex account. Then, we curated a list of the best forex brokers that accept PayPal as a payment method. We’ve got you covered.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best forex brokers that accept PayPal

Our team conducts meticulous research and tests dozens of the biggest forex brokers in the business. We then rank the best brokers for forex trading based on our proprietary formula that takes into account a range of factors, including trust. At our sister site, ForexBrokers.com, you can see how we test and how our proprietary Trust Algorithm measures a broker’s trustworthiness.

For this guide, we determined which brokers accept PayPal as a payment method for funding and withdrawing from your forex and CFD trading accounts. We also went a step further; we ordered that list of brokers (top to bottom) based on their overall ranking, to make sure that you’re picking the best forex broker for your needs.

Without further ado, here are the best forex brokers that accept PayPal:

  • IG - 9.7/10 Overall
  • CMC Markets - 9.4/10 Overall
  • FOREX.com - 8.7/10 Overall
  • XTB - 8.7/10 Overall
  • City Index - 8.7/10 Overall
  • Swissquote - 8.5/10 Overall
  • eToro - 8.4/10 Overall
  • AvaTrade - 8.2/10 Overall
  • Plus500 - 8.2/10 Overall
Overall Rating
9.7 / 10
Minimum Initial Deposit
£250.00
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.828 (September 2021)
All-in Cost EUR/USD - Active0.365 (May 2020)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1974
Publicly Traded (Listed)Yes
BankYes
Tier-1 Licenses7
Tier-2 Licenses2
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Trading - Forex or CFDsYes
Tradeable Symbols (Total)19537
Forex Pairs (Total)100
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)32
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
9.4 / 10
Minimum Initial Deposit
$0
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.73 (August 2021)
All-in Cost EUR/USD - ActiveN/A
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1989
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses5
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Trading - Forex or CFDsYes
Tradeable Symbols (Total)11927
Forex Pairs (Total)158
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)86
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
8.7 / 10
Minimum Initial Deposit
$100
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1.1 (US August 2021)
All-in Cost EUR/USD - Active1.1 (US August 2021)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1999
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses4
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Trading - Forex or CFDsYes
Tradeable Symbols (Total)5500
Forex Pairs (Total)91
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingNo
Charting - Indicators / Studies (Total)139
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
8.7 / 10
Minimum Initial Deposit
$0
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.9 (Q3 2021)
All-in Cost EUR/USD - Active0.9 (Q3 2021)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2002
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses1
Tier-2 Licenses3
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Trading - Forex or CFDsYes
Tradeable Symbols (Total)10000
Forex Pairs (Total)49
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)39
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
8.7 / 10
Minimum Initial Deposit
£100.00
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1.1 (August 2021)
All-in Cost EUR/USD - Active1.1 (August 2021)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1983
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses3
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Trading - Forex or CFDsYes
Tradeable Symbols (Total)12000
Forex Pairs (Total)84
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)139
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
8.5 / 10
Minimum Initial Deposit
$1000
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard-1
All-in Cost EUR/USD - Active-1
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1996
Publicly Traded (Listed)Yes
BankYes
Tier-1 Licenses4
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Trading - Forex or CFDsYes
Tradeable Symbols (Total)466
Forex Pairs (Total)78
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)49
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
8.4 / 10
Minimum Initial Deposit
$10-$200
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1 (August 2021)
All-in Cost EUR/USD - Active-1
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2007
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses2
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Trading - Forex or CFDsYes
Tradeable Symbols (Total)3056
Forex Pairs (Total)47
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)66
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)No
Economic CalendarYes


Overall Rating
8.2 / 10
Minimum Initial Deposit
$100
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.91 (Aug 2020)
All-in Cost EUR/USD - Active0.61 (Aug 2020)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2006
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses4
Tier-2 Licenses3
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Trading - Forex or CFDsYes
Tradeable Symbols (Total)1260
Forex Pairs (Total)55
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)90
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
8.2 / 10
Minimum Initial Deposit
€100
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.6 (as of Aug 2018)
All-in Cost EUR/USD - Active-1
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2008
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses4
Tier-2 Licenses3
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Trading - Forex or CFDsYes
Tradeable Symbols (Total)1896
Forex Pairs (Total)71
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingNo
Charting - Indicators / Studies (Total)110
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsNo
Daily Market CommentaryYes
Forex News (Top-Tier Sources)No
Economic CalendarYes


Why use PayPal as a trading payment option?

PayPal is fast, and it’s easy. With just a few clicks, you can make instant deposits or withdrawals from your PayPal account, and PayPal’s service coverage extends to 202 countries worldwide and accepts 52 different currencies, including USD, CAD, EUR, DKK, JPY, GBP, and INR.

PayPal offers a safe and secure online platform for sending and receiving money, and also supports a wide range of payment platforms, including e-Banking and PLAN. You can deposit money to your PayPal account and instantly send it to your broker and receive any payout and then withdraw it back to your bank.

PayPal’s system of paying fees is suitable for trading, although can vary depending on the method you use. For example, there are no fees charged to you for opening an account, however you may incur the payment fees depending on your location and chosen payment method.

Pros & Cons of using Paypal to fund your trading account:

Pros:

  • It’s easy (and might even be free). PayPal may be free to use – depending on the payment method. It’s also easy to use, requiring only a few clicks to fund an account (as long as you have your PayPal account set up).
  • You can use PayPal just about anywhere. PayPal’s coverage is wide, and it allows for receiving and sending money in up to 202 countries globally, including the U.S., U.K., Canada, France, and Italy.
  • Not using a major currency? Not a problem. PayPal allows for payments in 52 different currencies, including (but not limited to) USD, EUR, CAD, JPY, and GBP.
  • It’s fast. Payments are instant, and withdrawals may take less time to hit your bank account than traditional bank transfers.
  • It comes with perks. PayPal has evolved over the years to offer various perks (which vary by region), such as the ability to open a PayPal credit card or credit line for use online. However, most brokers do not accept credit cards, and it is never advisable to borrow money or use credit to invest in risky assets such as forex or CFD from a margin account.
Cons:
  • You’ll need a PayPal account. This might be stating the obvious, but you will need to set up and maintain a PayPal account in order to use it as a payment method.
  • Withdrawals might take a while. Withdrawal of funds from PayPal to your bank account will take from three to five business days (and may even result in a fee from PayPal).

What are the easiest ways to deposit money for forex trading?

All forex brokers offer multiple payment methods that allow you to deposit money into your trading account. While some 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.

Can I use Paypal for forex trading?

Yes, though it’s important to note that not all forex brokers currently accept PayPal as a means of depositing or withdrawing funds from your brokerage account. That being said, more and more brokers are starting to expand their supported payment methods to include more popular methods (like PayPal).

Does MetaTrader 4 accept PayPal?

While MetaTrader 4 (MT4) is not a broker and cannot accept funds for trading, there are a growing number of regulated brokers that offer MT4 and accept PayPal as a deposit and withdrawal method. Many forex traders that want to use MT4 end up choosing brokers that accept PayPal, so that they can quickly fund their account and withdraw funds back to their PayPal account when necessary. Whichever payment method you decide to use, remember that it’s always best to choose a highly-regulated and well-trusted broker.

Which forex brokers accept PayPal?

PayPal has become an increasingly popular choice for traders looking to deposit funds when opening a forex trading account. Below we’ve listed the best forex brokers that accept deposits from PayPal:

  • IG
  • CMC Markets
  • FOREX.com
  • XTB
  • City Index
  • Swissquote
  • eToro
  • AvaTrade
  • Plus500
  • Admiral Markets
  • Capital.com
  • IC Markets
  • OANDA
  • Pepperstone
  • FP Markets
  • FxPro
  • Trading 212
  • Eightcap
  • Trade Nation
  • Trade360
  • LegacyFX
  • TopFX

What is the best broker that accepts PayPal?

IG is the best forex broker that accepts PayPal as a payment option in 2022. IG stands apart from the competition in the areas that matter most – for beginners and experienced traders alike. IG delivers an outstanding selection of resources, including education, research, trading tools, and a vast selection of markets to trade. IG is also a highly regulated broker with a massive list of regulatory licenses across the globe. No matter what payment option you decide to use, IG is our number one pick in 2022.

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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. Learn more.

About the Author

Steven Hatzakis

Steven is the Lead Writer and Director of Research at BrokerNotes since 2021, and at ForexBrokers.com since 2016. Steven has been gathering accolades and credentials in the finance industry for over 20 years. He’s served as a registered commodity futures representative for both domestic and internationally regulated brokerages, and he’s held a Series III license in the U.S. as a Commodity Trading Advisor (CTA) for over ten years. He’s published over 1,000 articles covering the forex industry, and he has been writing about Bitcoin and cryptocurrency for almost ten years. Steven continues to contribute to open-source technology, consumer education, and self-regulatory initiatives.


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