PayPal Brokers 2022 - Which Brokers Accept PayPal?

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.

Note: Despite what you may read elsewhere, the following traders do not currently accept Paypal:



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

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


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

  • Transferring funds with Paypal is recognised as being fast, reliable and secure
  • Paypal is easy to use, either on a desktop or through their app
  • Making deposits and withdrawals with Paypal is generally very quick and certainly faster than bank transfers
  • Paypal accounts are easily linked to multiple credit cards, debit cards and bank accounts
  • Paypal is recognised worldwide as a major eWallet
  • Paypal’s strong anti-money laundering restrictions give traders security and potentially enhance the reputation of brokers with Paypal
  • High maximum transfer and withdrawal ($60,000)
  • For forex traders, Paypal works in 56 different currencies
  • Free to open an account
  • No charges for unused account


However, day trading with Paypal does have its disadvantages:

  • Charges on every trading transaction
  • FX fees (foreign transfer fees) are high at 4.5%
  • High transfer fees of between 4-12%
  • Although increasing, trading brokers that accept Paypal are still relatively uncommon.
  • Chargebacks only apply to tangible/physical goods, meaning forex and CFD traders etc. aren’t eligible.

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.


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.


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)

  • A small, fixed amount per transaction (currently 20p, varies for different countries)
  • A percentage of the transaction amount:
    • Up to £1500 per month (3.4%)
    • Up to £6000 per month (2.9%)
    • Up to £15000 per month (2.4%)
    • Over £15000 per month (1.9%)
  • Currency conversion fee, currently 2.5% above the Base Exchange Rate
  • Potential fees for using debit or credit cards rather than Paypal balance (this is on a transaction-by-transaction basis)