Just like many other types of brokers, some binary options brokers also accept PayPal as a method for funding trading accounts. Despite being one of the oldest online payment and money transfer services, PayPal remains popular and in widespread use all over the world. PayPal works by making payments from major debit and credit cards, or by sending money that is already kept in a user’s PayPal account.
A major advantage of funding a binary options trading account with PayPal as opposed to bank transfers is the low cost and high speed of PayPal transfers. This is especially true for international transactions where currencies also need to be exchanged. However, PayPal has in recent years gotten a number of new competitors, and many binary options brokers have moved to accept only these newer e-wallet services.