Paypal is a US based online payment system with headquarter in San Jose, California. Paypal was founded in December of 1998. It is a secure payment system that is used by millions of people every day. Almost every e-commerce store now accepts Paypal for payment. However, there are only a few online brokers that accept Paypal for deposit and withdrawal of funds.
Binary Options Brokers that Accept Paypal
365Trading is a relatively new broker established in the year of 2012. 365Trading has a headquarter in Barcelona, Spain. They offer their own proprietary trading platform. They also offer a demo account that does not require any form of deposit. 365Trading is one of the few brokers that accepts Paypal for deposit and withdrawal.
Finpari is a Scotland based broker founded last year. Finpari offers a simple Spot 2.0 platform that features a new social trading feature called SpotFollow. There are more than 120 assets to choose from. It offers fast withdrawal time where they guarantee to process your withdrawal within 1 hour. Finpari is a Paypal friendly broker that accepts US traders.
Bloombex Options is a Germany based binary options broker founded in 2009. Bloombex Options offer traders the opportunities to earn a profit of 85% to 500%. Paypal is one of the deposit/withdrawl methods it offer. Aside from Paypal, they also accept other payment methods such as credit/debit card, bank wire and Skrill. They offer a personalized customer support for their customers.
Binary Options Brokers that Don’t Accept Paypal
24Option is a binary options broker operated under Mika Holdings Inc. It has a headquarter in Cyprus and was founded in 2009. 24Option is CySEC regulated. They are a leading broker with good reputation in the industry. They offer a user friendly platform and high quality customer support.
Cherry Trade is a reliable binary options broker founded in 2013. They offer a low minimum transaction requirement of $5. They accept US traders and traders from other countries around the world. They are not regulated. They do not accept Paypal but they accept other payment methods such as credit card and bank wire.
BancdeBinary is a leader binary options broker based in Cyprus and founded in 2008. BancdeBinary offers a well designed proprietary platform. They are well known for their excellent customer service and high retention rate. Their education center offers more educational materials compared to others. BancdeBinary is CySEC regulated.
Paypal versus Credit Cards
Both Paypal and credit cards can be used to deposit funds into your trading account quickly. With Paypal, the account balance will appear in your Paypal account as soon as you deposit the funds. On the other hand, it can take several days for the account balance to show up in your credit card statement. You can apply for the paypal prepaid master card to withdraw your Paypal funds from the ATM. Paypal only charge a small fee so it is quite cost effective for traders. One benefit of credit card is that it has a high spending limit. Your paypal account could have a limit on the amount of payment you can send. In this case, it would be better for you to use a credit card if you want to deposit a large sum of fund in your trading account.
Paypal versus Bank Wire
Paypal offers a convenient way for traders to fund their account because the entire transaction can be carried out on your computer screen. Paypal works just like a credit card. If you use a bank wire, you have to go to the bank to fill up the relevant form. Paypal fees are calculated based on a percentage for example 3.4% + $0.30. This fee could vary among paypal account holders. Bank wire charges a fixed fee, for example $30. The bank wire fee depends on which bank you use for making the wire transfer.
More Paypal Alternatives
There are many good alternatives to Paypal such as credit/debit card, and Skrill. Almost all binary options brokers accept credit/debit card. As long as your card is not on hold, you will be able to use it to fund your account Skrill supports more than 200 countries. There are about 40 currencies to choose from. Skrill is widely accepted by many online binary options brokers. Skrill also charge low transaction fee.
In conclusion, Paypal is a great payment solution for people who are looking for a secure way to deposit or withdraw funds from their trading account. You can easily transfer funds into your Paypal account through your bank account. The funds can then be used for depositing funds into your trading account.