CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% 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.
Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data. *Availability subject to regulation.
For those who are interested in opening an account with a forex broker, there are several factors which need to be considered.
Firstly, the broker in question should be regulated and trustworthy. Beyond that though, other features, such as a wide variety of underlying assets and amenable spreads, are also important. For example, the available payment methods can be just as critical, as you must be able to withdraw and deposit funds in order to trade.
One thing that makes PayPal a great payment option is that it’s simple to use. With just a few clicks, you can make instant deposits while PayPal’s service coverage is offered in 202 countries worldwide and in 52 different currencies, including but not limited to USD, CAD, EUR, DKK, JPY, GBP and INR.
PayPal also supports a wide range of payment platforms including e-Banking, PLAN and MXN. PayPal allows you to make payments online through your email address. You can deposit money to your account, instantly send it to your broker and receive any payout and withdraw it to your bank. It also offers a safe and secure online platform for sending money and receiving money electronically.
PayPal’s system of paying fees can also suit trading well. There are no fees charged for opening an account, while the payment fees for PayPal vary according to your location and the payment method used.
There are many benefits of using PayPal for forex trading, including:
The main disadvantages of using PayPal are that the payment processing fees may be higher in comparison to a bank transfer, depending on your country and currency. If you don’t already have an account, there is also the additional work involved in setting up and managing a new PayPal account.