Best Paybis Brokers 2024

Paybis is a popular cryptocurrency payment solution and exchange platform based in the UK. The company supports 10 major digital currencies for a range of private and institutional services. This review of the Paybis platform will detail how it works, outline its fees and partnerships and highlight the pros and cons of using it. We also list the best brokers that accept Paybis deposits.

Best Paybis Brokers

Our evaluations have found that these are the best 15 brokers that support Paybis payments:

#1 - FOREX.com

Why We Chose FOREX.com

Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."

- DayTrading Review Team
  • Instruments: Forex, Spot Metals
  • Regulator: NFA, CFTC
  • Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
  • Minimum Deposit: $100
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:50

Pros

  • There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
  • FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
  • Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.

Cons

  • Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
  • Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
  • Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.

#2 - Interactive Brokers

Why We Chose Interactive Brokers

Interactive Brokers (IBKR) is a premier brokerage for experienced traders, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.

"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."

- DayTrading Review Team
  • Instruments: Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
  • Regulator: FCA, SEC, FINRA, CBI, CIRO, SFC, MAS, MNB
  • Platforms: Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
  • Minimum Deposit: $0
  • Minimum Trade: $100
  • Leverage: 1:50

Pros

  • The TWS platform has clearly been built for intermediate and advanced traders and comes with over 100 order types and a reliable real-time market data feed that rarely goes offline.
  • There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
  • The new IBKR Desktop platform takes the best of TWS while adding bespoke tools like Option Lattice and Screeners with MultiSort to create a genuinely impressive trading experience for day traders at every level.

Cons

  • You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
  • TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
  • Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.

#3 - NinjaTrader

Why We Chose NinjaTrader

NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.

"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."

- DayTrading Review Team
  • Instruments: Forex, Stocks, Options, Commodities, Futures, Crypto
  • Regulator: NFA, CFTC
  • Platforms: NinjaTrader Desktop, Web & Mobile, eSignal
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:50

Pros

  • Traders can get free platform access and trade simulation capabilities in the unlimited demo
  • NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC
  • You can get thousands of add-ons and applications from developers in 150+ countries

Cons

  • The premium platform tools come with an extra charge
  • Non forex and futures trading requires signing up with partner brokers
  • There is a withdrawal fee on some funding methods

#4 - AvaTrade

Why We Chose AvaTrade

AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, alongside a comprehensive education center and multilingual customer support.

"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting
  • Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM
  • Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
  • Minimum Deposit: $100
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (Retail) 1:400 (Pro)

Pros

  • Day traders can access stable spreads and zero commissions with no hidden fees
  • AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more
  • WebTrader is well-suited to beginners and features a strong suite of technical analysis tools and market research for day traders

Cons

  • Traders from the US are not accepted
  • There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
  • There is no ECN account with raw spreads

#5 - eToro USA

Why We Chose eToro USA

eToro is a social investing platform that offers short-term and long-term trading on stocks, ETFs, options and crypto. The broker is well-known for its user-friendly community-centred platform and competitive fees. With FINRA and SIPC oversight and millions of users across the world, eToro is still one of the most respected brands in the industry. eToro securities trading is offered by eToro USA Securities, Inc.

"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."

- DayTrading Review Team
  • Instruments: Stocks, Options, ETFs, Crypto
  • Regulator: SEC, FINRA
  • Platforms: eToro Trading Platform & CopyTrader
  • Minimum Deposit: $10
  • Minimum Trade: $10

Pros

  • eToro USA Securities is a trustworthy, SEC-regulated broker that is a member of FINRA and SIPC
  • The online broker offers an intuitive social investment network with straightforward copy trading on cryptos
  • The $10 minimum deposit and straightforward account opening process means beginners can get started quickly

Cons

  • Average fees may cut into the profit margins of day traders
  • The proprietary terminal doesn't support trading bots and there are no additional stock market analysis tools
  • There's no MetaTrader 4 platform integration for traders who are accustomed to using third-party charting tools

#6 - Woxa

Why We Chose Woxa

Woxa is an STP broker established in 2021 and regulated by the Financial Services Commission (FSC) in Mauritius. Over 2000 CFDs are available spanning popular asset classes, including forex, stocks, indices, commodities and crypto. Woxa offers an in-house web platform, alongside a mobile app and copy trading service.

"Woxa is best for beginners looking for a low minimum deposit, easy-to-use platform and social investing features. However, it seriously trails alternatives in several key areas, including safety, trading fees and customer support."

- DayTrading Review Team
  • Instruments: CFDs on Forex, Commodities, Stocks, Indices, ETFs
  • Regulator: FSC
  • Platforms: Woxa Platform, App
  • Minimum Deposit: $25
  • Minimum Trade: 0.01
  • Leverage: 1:400

Pros

  • It is really easy to open a Woxa account – taking less than 5 minutes
  • TradingView's charting package is excellent with 100+ indicators and drawing tools
  • The trading platform is very easy to use thanks to its modern design and intuitive navigation

Cons

  • Investors can only deposit with wire transfer and there is a fee for non-USD transfers
  • The copy trading service doesn’t compete with industry-front runners
  • Traders can't use the MetaTrader platforms and algo trading isn't supported

#7 - OANDA US

Why We Chose OANDA US

OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.

"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."

- DayTrading Review Team
  • Instruments: Forex, Crypto
  • Regulator: NFA, CFTC
  • Platforms: OANDA Trade, MT4, TradingView, AutoChartist
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:50

Pros

  • Seasoned day traders can access industry-leading tools, including an MT4 premium upgrade and advanced charting provided by MotiveWave
  • Day traders can enjoy fast and reliable order execution
  • OANDA is a reliable, trustworthy and secure brand with authorization from tier-one regulators including the CFTC

Cons

  • There's only a small range of payment methods available, with no e-wallets supported
  • It's a shame that customer support is not available on weekends
  • The range of day trading markets is limited to forex and cryptos only

#8 - Deriv.com

Why We Chose Deriv.com

Deriv.com is a low cost, multi-asset broker with over 2.5 million global clients. With just a $5 minimum deposit, the firm offers CFDs and multipliers, alongside proprietary synthetic products which can't be found elsewhere. Deriv provides both its own in-house charting software and the hugely popular MetaTrader 5.

"Deriv.com will suit day traders looking to make fast-paced trades using CFDs and multipliers with high leverage up to 1:1000. The broker is also the industry leader in synthetic indices, which simulate real market movements and are available around the clock. "

- DayTrading Review Team
  • Instruments: CFDs, Multipliers, Forex, Stocks, Indices, Commodities
  • Regulator: MFSA, LFSA, VFSC, BFSC
  • Platforms: Deriv Trader, MT5
  • Minimum Deposit: $5
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:1000

Pros

  • Deriv continues to offer fast and reliable 24/7 support and the WhatsApp service is particularly convenient
  • The free demo account is ideal for practicing short-term trading strategies and no registration is required
  • Traders can use multipliers between 1 and 30, with take profit, stop loss and deal cancellation parameters

Cons

  • There are limited copy trading tools and analysis features compared to alternatives like IQ Cent
  • The range of 100+ assets trails some competitors such as Quotex which offers 400+
  • There's no loyalty program or rebate scheme for high volume traders

#9 - Pepperstone

Why We Chose Pepperstone

Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.

"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
  • Regulator: FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
  • Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (Retail), 1:500 (Pro)

Pros

  • Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading.
  • There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
  • Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.

Cons

  • There’s no simplified proprietary trading platform, nor are there any social trading features, which could be a disadvantage if you are new to day trading.
  • Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
  • Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.

#10 - XM

Why We Chose XM

XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.

"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."

- DayTrading Review Team
  • Instruments: Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
  • Regulator: ASIC, CySEC, DFSA, FSC, FSCA
  • Platforms: MT4, MT5
  • Minimum Deposit: $5
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:1000

Pros

  • XM is a hugely respected broker authorized by tier-one regulators
  • The broker offers premium research including market sentiment, fundamental insights and strategy builders
  • Accessible trading accounts with a $5 minimum deposit and fast account opening

Cons

  • There's $5 inactivity fee after only 3 months, though this won't affect active traders
  • PayPal deposits are not supported
  • There is weak regulatory oversight through the global entity

#11 - IC Markets

Why We Chose IC Markets

IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.

"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
  • Regulator: ASIC, CySEC, FSA
  • Platforms: MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
  • Minimum Deposit: $200
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)

Pros

  • With ultra-fast execution speeds averaging 35 milliseconds and deep liquidity, IC Markets provides an optimal trading environment for scalpers, hedgers, and algorithmic traders.
  • IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
  • As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.

Cons

  • The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
  • There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.
  • Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.

#12 - Eightcap

Why We Chose Eightcap

Eightcap is a forex and CFD broker founded in Australia in 2009. The brand is popular with serious day traders for its raw spreads on 1000+ instruments and advanced MetaTrader platforms. With five global offices and ASIC regulation, Eightcap has built a strong reputation. New traders can also sign up for a live account in just a few minutes.

"Eightcap is great for day traders familiar with MT4 and MT5 and looking to trade forex and CFDs in a secure environment. The brand is also a great pick for crypto traders with 100+ derivatives, a sophisticated market scanner, plus Bitcoin and Tether deposits."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, Crypto
  • Regulator: FCA, ASIC, CySEC, SCB
  • Platforms: MT4, MT5, TradingView
  • Minimum Deposit: $100
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:500

Pros

  • Raw spreads from 0.0 pips and a low $3.5 commission will appeal to active traders
  • AI-powered economic calendar with top-level insights, in partnership with Acuity
  • Strong trading education and analysis including forex guides and online webinars

Cons

  • There are only four commodities available, which may disappoint experienced day traders looking to diversify their portfolios
  • The demo account can only be extended upon request
  • There are several frustrating jurisdictional restrictions - for example, the Crypto Crusher tool is not available for UK or Australian clients

#13 - LiteForex Europe

Why We Chose LiteForex Europe

LiteForex Europe is a CFD broker established in 2008 and authorized by the CySEC. The brokerage offers forex, commodities and indices via the MT4 and MT5 platforms. Spreads are ultra tight on ECN accounts and leverage is available up to 1:30 in line with EU regulations. LiteForex also offers a rich education centre for new day traders and social trading capabilities.

"LiteForex is a good option for active day traders with variable spreads from 0.0 pips, daily analysis and high-quality training guides. The forex copy system also lets you duplicate the positions of experienced traders."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Indices, Commodities
  • Regulator: CySEC
  • Platforms: MT4, MT5
  • Minimum Deposit: $50
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30

Pros

  • LiteForex offers a range of proprietary mobile app tools which are ideal for traders who want to analyze the markets on the go
  • A proprietary copy trading system is available which allows you to copy other trading patterns
  • There's a comprehensive analytics portal by Claws&Horns, which offers video reviews, expert insights and short-term trading signals

Cons

  • Cryptocurrency trading is not offered
  • There is no swap-free trading account for Muslim day traders
  • Fees are fairly high, with spreads starting from 2.0 pips in the Classic account and $10 forex commissions in the ECN account

#14 - CityIndex

Why We Chose CityIndex

City Index is an established and award-winning forex, CFD and spread betting broker with top-tier global regulation, including in the UK (FCA) and Australia (ASIC). With 30+ years in the industry, 13,500+ instruments and 24/5 customer support, City Index is a solid pick for aspiring traders.

"City Index is best for new and intermediate traders looking for a wide selection of assets on user-friendly platforms."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Cryptos, Options, Commodities, Bonds
  • Regulator: ASIC, FCA, MAS
  • Platforms: MT4, TradingView, TradingCentral
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (Retail), 1:50 (Accredited Investor), 1:200 (Sophisticated Investor), 1:300 (Wholesale Investor), 1:400 (Professional Trader). Varies with jurisdiction.

Pros

  • Extended hours trading on 70+ popular shares including Amazon and Tesla
  • Thousands of instruments including thematic indices and interest rates that are not available at many alternatives
  • Tight spreads from 0.5 pips on EUR/USD and competitive commissions on CFD shares

Cons

  • Cryptocurrency trading not available in all locations
  • No Islamic account for Muslim traders
  • $15 monthly inactivity fee

#15 - DNA Markets

Why We Chose DNA Markets

DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, St Vincent and the Grenadines. Traders can access 250+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.

"DNA Markets is an excellent choice for short-term traders familiar with the MetaTrader platforms. The smooth sign-up process also makes it easy to get started while the $100 minimum deposit is accessible. That said, DNA Markets trails the top brokers in education, research and mobile trading. "

- DayTrading Review Team
  • Instruments: CFDs, Forex, Indices, Commodities, Stocks, Crypto
  • Regulator: ASIC
  • Platforms: MT4, MT5
  • Minimum Deposit: $100
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:500

Pros

  • Low trading fees with spreads from 0.0 pips in the Raw account and zero non-trading fees
  • Convenient account funding with 7 base currencies, a $100 deposit and a wide range of payment methods
  • Short-term trading strategies are permitted including scalping and automated trading using Expert Advisors (EAs)

Cons

  • Although it continues to strengthen its client base and reputation DNA Markets lacks the track record of top brokers like Vantage
  • Despite access to MT4 and MT5, there is no proprietary trading app
  • There are limited educational and research tools, reducing its appeal to beginners

What Is Paybis?

Paybis is a cryptocurrency payment solution where you can buy a range of tokens. The broker currently supports 10 major cryptos:

The exchange offers two services: private (for buying and selling cryptos) and business (for liquidity services). Paybis provides liquidity for banks, FinTech companies, payment processors, the gaming industry and more.Paybis bnb to gbp usd ethereum price prediction

Paybis can accept or send crypto on the user’s behalf via simple API integration. The exchange also completes transactions in less than a minute. All of this has become possible due to Paybis partnering with Simplex, an Israeli payment processor that provides fiat infrastructure to the crypto industry.

Paybis also holds other key partnerships with crypto exchange Kraken and BlueOrange bank. In November 2020, The exchange’s partnership with FinTech company Money Service Business Zero Hash allowed it to offer its service across 48 states in the US.

The corporate entity behind the exchange, Paybis Limited (Ltd.), was founded in Glasgow, Scotland in 2014. Over the last 7 years, the company has developed into a highly reputable platform, acquiring operating licenses in the UK, the US and the EU. To date, Paybis Limited has customers from 180 countries.

Fees

Paybis boasts competitive trading charges and commissions, with no network, deposit or withdrawal fees.

Customers are not charged for their first transaction or sale of BTC, regardless of the payment method. Any subsequent payments may incur charges, though these vary with the method used.

Paybis crypto purchases are charged 0.99% from wire transfers and 3.99% from payment cards. There is also a $10 local currency minimum processing fee on transactions up to $225 for payment cards.

As part of the launch of new payment options, Paybis reduced its fee for cryptocurrency purchases via bank transfer from 2.99% to 0.99% as well as increasing its spending limits. Credit/debit card purchases are at 3.99%. Greater purchases are charged 4.5% for EUR, GBP and USD or 6.5% for other currencies.

Speed

Signing up to trade on Paybis is very quick and straightforward. Customers can use their Facebook or Google accounts to sign up securely. The average trader’s ID verification time is about 5 minutes.

Not only is registration with Paybis quick and easy, but so is the purchase of cryptocurrencies. Deposits are processed almost instantly when using credit or debit cards. Bank transfers can take a little longer, usually between 1-5 days. Withdrawal times can vary.

Security & Regulation

Paybis is a reputable and secure method with its robust security. Its non-custodial model encourages its users to use secure, private wallets which can be inconvenient but is best practice for security for traders. Your digital assets are going to be safer in your own wallet than on the exchange.

Paybis is considered a reputable exchange. As well as having operated for 7 years, Paybis Ltd is regulated by the UK’s Financial Conduct Authority (FCA). The company is also registered with the US’s Financial Crimes Enforcement Network (FinCEN).

Payment Methods

Paybis allows its users to choose from a variety of deposit methods, including credit cards, bank transfers, or supported electronic wallets. This is good news for traders, especially beginners. Other payment methods include Neteller and Skrill.

Unlike some of its competitors, including Binance, Paybis allows traders to purchase some crypto coins using fiat money, depending on the pairs available. This feature further legitimises the exchange, distancing it from claims of being a scam.

You need to fund your account before you can buy cryptocurrency. Go to the ‘Exchange’ page, choose your payment method, the fiat currency that you’re paying with and how much crypto you wish to buy. Click ‘Buy’, add your wallet address and complete the transaction.

Paybis also offers a prepaid gift card to Bitcoin option, supporting gift cards from US vendors including Amazon and Walmart. In September 2021 Paybis announced that it was launching Apple Pay, allowing traders to buy their cryptocurrencies in one click from their iPhone, iPad, or MacBook.

Paybis also offers an easy conversion calculator to work out how much a certain quantity of crypto costs. There are calculators for all cryptos, including a TRON calculator, provided on the Paybis website.paybis rates and fees review

Wallets

Currently, Paybis does not have an in-built wallet, meaning it does not store your cryptos in hot or cold wallets. However, the lack of a wallet adds to the exchange’s overall security, reducing its risk of being hacked.

If you want to buy digital assets using Paybis, you need to get a wallet that is compatible with the digital currency you want to buy such as a Bitcoin wallet.

In positive news, Paybis supports all types of wallets, including online wallets such as the Trust Wallet app or MetaMask extension, and desktop and external (hardware) wallets such as Trezor or Ledger.

Payment Limits

Paybis assigns transaction limits dependent on the trader’s payment method of choice. The minimum amount is $50 worth of cryptos for all payment methods ($60 for credit/debit cards). Paybis’ maximum transaction limits apply on a range of timelines. These include a daily Bitcoin limit of $20,000 and $50,000 a month for Visa and Mastercard. Skrill and Neteller have weekly limits of $50,000 and $200,000 respectively. Bank transfer limits are $200,000 weekly and $500,000 monthly.

Pros Of Using Paybis For Traders

Paybis is highly ranked on Trustpilot with millions of its customers recommending it for its security, user-friendliness and ease of access to buying crypto with 47 supported fiat currencies.

User Friendly

Users can create a free account by signing up with an email address and password. As part of registration, you will also need to agree to Paybis’ terms and conditions and complete an ID verification process. Paybis’ KYC verification allows you to choose from several types of ID, including your passport or driving license. The time it takes to complete is about 5-10 minutes.

Paybis offers educational videos and tutorials on its YouTube channel. There is also a Paybis blog, news page and support portal that provides information on a variety of topics.

Accepted Countries & States

Paybis supports up to 47 fiat currencies around the world, including USD, EUR, GBP and JPY.
Paybis is available in 180 countries and accessible in 9 languages. Paybis’ supported countries include Canada, Hong Kong, India, Japan, Latvia, Malaysia, Mexico, New Zealand, Nigeria, Singapore, South Africa and the UAE.

Paybis is available in 48 supported states in the USA, excluding New York and Hawaii. Paybis announced that it would be launched in NY in summer 2021 but this has since been pushed back to autumn. Paybis has 33 restricted countries.

Security

As well as being regulated by the FCA, Paybis has operating licenses in the US and the EU. This offers important buyer protection. Paybis enforces quite strict KYC requirements meaning with no ID verification, you cannot buy and sell cryptos on Paybis. Its non-custodial model means it does not store your cryptocurrency on its platform.

Customer Support

Should you run into any issues, Paybis has 24/7 customer support available via its live chat. Support can also be found via email: support@paybis.com.

Its support portal can address issues and questions on how to cancel a transaction and get a refund, how to delete your account, if there is a payment error, a payment has failed, the broker status is stuck on checking your info, an error in processing your card or a payment under review or if your account is suspended. The news section of its website provides updates when elements of the platform are not working.

Paybis is also present across various social media platforms including Facebook, Twitter and LinkedIn (which states it is registered in Edinburgh). Despite there not being a contact phone number, the company’s customer support has received high praise from its users.Is paybis a real good site

Cons Of Using Paybis For Traders

Currently, Paybis only supports the purchase of 10 cryptocurrencies and you can only sell Bitcoin. This is very small compared to Paybis alternatives like Coinbase, eToro and Kraken, which offer at least 50 coins.

As it is not regulated by the US Securities and Exchange Commission (SEC), Paybis.com is not available to all US traders. Clients based in New York and Hawaii cannot use the Paybis exchange and some restrictions also apply to Texas residents.

Is Paybis Good For Day Trading?

Paybis’ fast and streamlined service makes it an increasingly popular exchange to buy and sell cryptocurrencies. The payment system is partnered with a range of DeFi companies and boasts a competitive fee structure and decent security.

FAQ

Is Paybis.com Legit And Safe To Use With My Trading Account?

Paybis is legit and has no known history of scams. It is a payment solution that offers regulated services for retail and institutional traders in the DeFi industry. It is considered a trustworthy site as it has maintained compliance with requirements in the UK, the US, and the EU.

How Does Paybis Work With My Trading Account?

The Paybis exchange enables traders to buy and sell various cryptocurrencies, including Ethereum and Ripple. It also provides a wide range of banking options, including a bank or wire transfer, Skrill and credit/debit card payments, making it convenient for traders to transfer funds to and from their live trading accounts.

How Fast Are Deposits To My Trading Account When Using Paybis?

Deposits can be fast when using Paybis and are processed instantly when using a debit or credit card. That said, payments via bank wire can take up to 5 days and some brokers may also have their own processing timelines.