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Best PayPal Brokers 2023

Paypal is by the far the world’s most recognisable form of online payment. The number of brokers that accept Paypal is increasing and Forex trading with Paypal is becoming particularly common. Day trading with Paypal brokers is popular because of how secure the method is and how quickly transfers can be made between accounts.

Paypal is also easily linked to multiple debit and credit cards, which means making deposits and withdrawals is quick and easy.

Paypal forex trading also has the advantage of their strict rules and payment guidelines.

These mean that broker sites that accept Paypal could be seen as more trustworthy than those that don’t.

PayPal Brokers

These are the 6 best brokers that accept PayPal deposits and withdrawals:

  1. eToro USA
  2. IG Group
  3. CEX.IO
  4. CloseOption
  5. Gemini
  6. Just2Trade

Top 3 Broker Comparison

Top 3 PayPal Comparison
eToro USA IG Group CEX.IO
Minimum Deposit $10 $0 $20
Minimum Trade $10 0.01 Lots $1
Instruments Stocks, Options, ETFs, Crypto CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Crypto
Platforms Own MT4, AutoChartist, TradingCentral TradingView
Leverage 1:30 (Retail), 1:250 (Pro)
Regulators SEC, FINRA FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA GFSC
Visit Visit Visit Visit

#1 - eToro USA

eToro is a social investing platform that offers 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, this brand is highly respected. eToro securities trading is offered by eToro USA Securities, Inc.

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

- DayTrading Review Team
  • Instruments: Stocks, Options, ETFs, Crypto
  • Regulator: SEC, FINRA
  • Platforms: Own
  • Min. Deposit: $10
  • Min. Trade: $10

Payment Methods

eToro USA accepts these 4 payment methods for deposits and withdrawals:

  • ACH Transfer
  • Debit Card
  • PayPal
  • Wire Transfer

Stocks Trading

Trade popular US stocks and ETFs with zero commissions while fractional shares and options are also available. The eToro Academy and excellent market research are also huge bonuses for newer investors.

Crypto Trading

eToro US leads the way in cryptocurrency trading. 1% fee for buying or selling crypto added to the spread (from 0.75% for BTC), with their own wallet service and the largest number of cryptos to trade in the market. eToro copy trading is only for cryptos. Crypto asset investing is highly volatile and unregulated. No consumer protection. Tax on profits may apply.

Pros

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

Cons

  • Narrower range of instruments than some competitors
  • No MetaTrader 4 platform integration
Visit eToro USA

#2 - IG Group

IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.

"IG offers a superb all-round package. Beginners will appreciate the user-friendly web platform and secure trading environment while established investors will rate the 17,000+ markets and top-tier market research."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
  • Regulator: FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA
  • Platforms: MT4, AutoChartist, TradingCentral
  • Min. Deposit: $0
  • Min. Trade: 0.01 Lots
  • Leverage: 1:30 (Retail), 1:250 (Pro)

Payment Methods

IG Group accepts these 6 payment methods for deposits and withdrawals:

  • Credit Card
  • Debit Card
  • Mastercard
  • PayPal
  • Visa
  • Wire Transfer

CFD Trading

IG offers an impressive suite of 17,000+ CFD instruments. Negative balance protection ensures accounts cannot drop below zero while custom price alerts and the IG Academy enhance the trading experience.

Forex Trading

IG offers currency trading on its award-winning web platform and mobile app. Comprehensive charts and forex analysis tools are also available through ProRealTime.

Stocks Trading

IG offers 13,000+ shares, with more listed firms than most competitors. Fees are low with no commission on US stocks. Extended hours trading is also available alongside ultra-fast execution speeds of 0.014 seconds.

Crypto Trading

11 popular cryptos are available, plus two crypto crosses. A crypto index is also offered, following the value of the top 10 digital currencies by market cap. All cryptos are available via CFDs.

Pros

  • IG offers great educational materials including an extensive library of training and support on how to day trade successfully
  • 24/5 customer support is available
  • IG is an LSE-listed company with a transparent financial history and a great track record

Cons

  • No copy trading platform
  • Inactivity charge
Visit IG Group

#3 - CEX.IO

CEX.IO is one-stop-shop for crypto investors where you can buy and sell popular digital tokens, speculate on prices with margin trading and earn rewards through staking. Since it launched in 2013, more than five million traders have deposited over $7.5 billion. CEX.IO is registered with the FinCEN in the US and the GFSC in the EU.

"CEX.IO will serve a range of crypto investors looking to buy, sell, trade, hold and earn. The tiered pricing structure will appeal to active traders while rookie investors will enjoy the straightforward platform interface and excellent education."

- DayTrading Review Team
  • Instruments: Crypto
  • Regulator: GFSC
  • Platforms: TradingView
  • Min. Deposit: $20
  • Min. Trade: $1

Payment Methods

CEX.IO accepts these 12 payment methods for deposits and withdrawals:

  • Apple Pay
  • Bitcoin Payments
  • Credit Card
  • Debit Card
  • Google Wallet
  • Mastercard
  • Neteller
  • PayPal
  • Skrill
  • Swift
  • Visa
  • Wire Transfer

Crypto Trading

CEX.IO offers hundreds of popular cryptocurrencies including big names like Bitcoin, Ethereum and Litecoin. The trading platform is well-designed with sophisticated charting and analysis tools. Traders can also reduce their monthly volumes through the tiered pricing structure.

Pros

  • Wide range of payment methods including PayPal
  • Crypto leverage up to 1:3
  • Low minimum deposit of $20

Cons

  • Limited regulatory oversight
  • No demo account
  • Cluttered interface on Exchange Plus
Visit CEX.IO

#4 - CloseOption

CloseOption is a Georgia-headquartered broker with over a decade in the trading industry. The brand offers high/low binary options trading on forex and crypto markets, with decent payouts, welcome bonuses, 24/7 customer support and intuitive trading software.

"CloseOption is a good pick for traders seeking a user-friendly binary options platform with high payouts and joining bonuses."

- DayTrading Review Team
  • Instruments: Binary Options on Forex & Cryptos
  • Regulator: National Bank of Georgia
  • Platforms: Own
  • Min. Deposit: $5
  • Min. Trade: $1

Payment Methods

CloseOption accepts these 7 payment methods for deposits and withdrawals:

  • Bitcoin Payments
  • Ethereum Payments
  • Mastercard
  • PayPal
  • Perfect Money
  • WebMoney
  • Wire Transfer

Forex Trading

CloseOption offers binaries on 25+ forex pairs, including majors like EUR/USD and a few minors like AUD/JPY. Payouts vary by currency, with decent typical payouts of 75% for GBP/USD.

Crypto Trading

CloseOption traders can access high/low binary options on five major cryptos all paired with USD. Payouts of 40% are available due to digital assets' high market volatility, which compares well with rivals.

Pros

  • Multiple global payment methods are available
  • The user-friendly platform is compatible with most web browsers
  • Free demo account

Cons

  • CloseOption is not regulated by a well-regarded trading authority
  • Binary options are only available on fiat and digital currencies
  • Clients need to deposit $50,000+ to qualify for the best payouts
Visit CloseOption

#5 - Gemini

Gemini is a crypto exchange offering 90+ cryptocurrencies, a native stablecoin and derivative trading via perpetual swaps. The two proprietary platforms will suit beginners and experienced traders, execution is fast with low slippage and fees are competitive.

"Gemini is a great platform for traders looking for a straightforward way to trade crypto derivatives in a secure environment."

- DayTrading Review Team
  • Instruments: Cryptos
  • Regulator: NYDFS, MAS, FCA
  • Platforms: AlgoTrader, TradingView
  • Min. Deposit: $0
  • Min. Trade: 0.00001 BTC

Payment Methods

Gemini accepts these 10 payment methods for deposits and withdrawals:

  • ACH Transfer
  • Bitcoin Payments
  • Credit Card
  • Etana
  • Ethereum Payments
  • Mastercard
  • PayPal
  • Silvergate Bank Transfer
  • Visa
  • Wire Transfer

Crypto Trading

Gemini offers 90+ cryptocurrencies on its exchange, which is anchored by the native Gemini Dollar stablecoin. The powerful ActiveTrader platform is optimized for online trading, and the broker offer perpetual swap derivatives.

Pros

  • There is a wealth of education, guides and tutorials suitable for both beginners and novice investors
  • High security with 2FA a requirement for all crypto investors
  • Gemini has won various awards in recent years, including the 2019 Markets Choice Awards: Best Cryptocurrency Exchange

Cons

  • There is no practise profile or demo account for prospective traders
  • Trading on margin is not supported
  • Some of the top coins by market cap are not available to buy through Gemini
Visit Gemini

#6 - Just2Trade

Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.

"Traders seeking a multi-asset broker with an exceptional range of 35,000+ assets, market-leading software and low trading fees should consider Just2Trade. The Try2BFunded program will also appeal to users seeking funded trading accounts."

- DayTrading Review Team
  • Instruments: Stocks, ADRs, ETFs, Futures, Options, Commodities, Bonds
  • Regulator: CySEC, NFA, FINRA, Bank of Russia
  • Platforms: MT4, MT5, TradingCentral
  • Min. Deposit: $100
  • Min. Trade: 0.01 Lots
  • Leverage: 1:20

Payment Methods

Just2Trade accepts these 20 payment methods for deposits and withdrawals:

  • AstroPay
  • Bitcoin Payments
  • Cashu
  • Credit Card
  • Debit Card
  • Ethereum Payments
  • Giropay
  • Klarna
  • Mastercard
  • Neteller
  • POLi
  • PayPal
  • Paysafecard
  • Przelewy24
  • Skrill
  • Trustly
  • UnionPay
  • Visa
  • Wire Transfer
  • iDeal

CFD Trading

With CFDs on 20+ Polish and 30+ US stocks, as well as energies and seven global stock indices covering US, UK, European, Australian and Japanese markets, Just2Trade offers a superb selection of global assets.

Forex Trading

Traders can access a decent range of 60+ major, minor and exotic forex pairs through standard and ECN accounts with tight spreads from 0.5 and 0.0, respectively. Execution speeds are also faster than most competitors at 50ms, which will appeal to active forex day traders.

Stocks Trading

As well as Just2Trade's 50+ stock CFDs, traders can access a huge variety of thousands of stocks traded on US and international exchanges. The chance to build an investment portfolio and benefit from dividends sets Just2Trade apart from most CFD brokers.

Crypto Trading

Traders can speculate on a modest selection of the largest cryptos by market cap including Bitcoin. On the downside, crypto trading is only available to clients from Asia which is more restrictive than many alternatives.

Pros

  • Try2BFunded trader development program with funded accounts for clients who reach profit benchmarks
  • Regulated and trustworthy with authorization from FINRA, NFA & CySEC
  • Competitive fee schedule and high-quality trade executions

Cons

  • Few standard educational resources compared to other brokers
  • Research tools such as stock screeners require third-party applications
  • Cryptocurrency is only available in Asia
Visit Just2Trade

Overview

With over a quarter of a billion active accounts, Paypal is the world’s largest digital wallet. It was launched back in 1998 as Confinity before merging with Elon Musk’s x.com.

This company was renamed Paypal in 2001 and went public the following year. Since then Paypal has evolved with mobile and web technology, making its options for transferring money even easier.

In the EU, Paypal is registered and licensed in Luxembourg, having moved from the UK in 2007.

Paypal was not developed with trading in mind but, as its ubiquity has grown, so has the inevitability of traders wanting to trade with it.

This had led to more and more brokerages accepting Paypal.

paypal brokers mobile app

Advantages

There are strong advantages to trading with brokers who accept Paypal:

Drawbacks

However, day trading with Paypal does have its disadvantages:

Speed of Paypal Payments

As long as there is money in your account, or in the bank account linked to the Paypal account, funds for or from trading are generally transferred, if not instantly, then very quickly.

Security

There are claims that trading with Paypal is actually safer than using your debit or credit card.

Paypal stores your data in a ‘vault’, meaning that the other end of the transaction doesn’t receive any of your card or account details. In short, your privacy is assured.

The one problem of trading with Paypal is that chargebacks can only be claimed for physical goods, not stocks or currencies etc.

Deposits and Withdrawals With Paypal

The vast majority of Paypal traders, including all of those in the UK and US, are able to deposit and withdraw money to and from their Paypal account.

However, some countries (currently including Israel and the Ukraine) are ‘send only’.

This means that traders with accounts in those countries can make deposits in their Paypal accounts and send money to others, but not withdraw money from Paypal to their account.

This would make Paypal trading in such countries difficult.

Paypal Fees Or Costs

Paypal accounts are free to open. New traders will probably already have an account for their online shopping.

Unlike other common day trading digital wallets, such as Skrill or Neteller, there is no charge if your account is unused for a period of time.

The fees for sending and receiving money are generally the same as other digital wallets, but there are instances where it is slightly less and slightly more.

Any form of receiving trading money through Paypal will incur a charge; the transfer fee which can rise as high as 12%.

Withdrawing money from your Paypal account to your bank is free, unless you wish for a cheque to be issued.

One ‘hidden’ cost is when transferring currencies via Paypal. The exchange rate offered will generally have 5% margin in Paypal’s favour.

This is worth bearing in mind if trading in a currency that is not the same as the default Paypal balance.

Is Paypal A Good Choice For Traders?

Although not the most common, Paypal is generally a good choice for traders although traders should factor in the potential of high transfer fees.

Paypal is becoming more and more integral to how we move money around so we expect brokers to continue to take it up as a payment method.

Traders dealing in larger amounts of money should bear in mind that Paypal has a maximum of £10,000 for any single transaction.

Brokers who take Paypal may be more likely to offer a wider a range of payment options, and that will generally be a positive sign.

FAQ

What Are The Best PayPal Brokers?

There are many brokers that accept PayPal, but most brokers only accept traders from specific countries, so it depends on your location. Our top list of PayPal brokers will only show brokers that are available in your country.

Are There Any Paypal Bonuses?

No. Paypal simply act as a middle-man between bank and broker. Any deposits held for a long period in Paypal accounts don’t even accrue interest.

What Countries Can Use Paypal?

There are currently 203 countries and regions that use Paypal, including all major developed economies.

Any Location-Specific Information?

Paypal is country specific. This means that users in any given country can only link to a bank account they have in that country.

The one exception is the USA: US Paypal account holders can link to bank accounts in other countries.

Paypal charges up to four separate fees for cross-border transfers (all prices and percentages relate to the UK)