PayPal is arguably the best-known online payment processor today, available to users in a huge range of countries around the world. Many regulated forex brokers therefore accept PayPal as a payment method to fund trading accounts, which automatically gives these brokers the chance to tap into the platform’s large user base.
Compared to international bank wire transfers, PayPal usually offers both faster and cheaper transactions. However, the final cost of funding a trading account with PayPal also depends on fees charged by the broker. While some brokers accept PayPal deposits free of charge, others may charge a small fee for the service. This is then added on top of the transfer fee and the cost of making currency exchanges with PayPal.