| Online Broker | Minimum Deposit | Forex Trading Platforms | About |
|---|---|---|---|
| IC Markets | $200 Minimum Deposit | MT4, MT5, cTrader Forex Trading Platforms | IC Markets allows PayPal deposits, does not charge fees for PayPal deposits and supports a wide range of Forex trading styles including scalping and automated trading About |
| Plus500 | $100 Minimum Deposit | Plus500 Platform Forex Trading Platforms | Plus500 allows PayPal deposits and provides a user friendly platform from desktop to watch app, for Forex trading About |
| FOREX.com | $100 Minimum Deposit | MT4, Web Trader, Advanced Trading Platform Forex Trading Platforms | FOREX.com allows Paypal deposits, does not charge for incoming deposits and offers Forex trading with spreads from 0.8 About |
| City Index | $150 Minimum Deposit | MT4, Web Trader Forex Trading Platforms | City Index allows PayPal deposits, does not charge for deposits and allows automated trading on MT4 as well as providing a user friendly Web Trader About |
Forex Brokers That Accept PayPal Deposits
What is a PayPal Forex broker ? A PayPal Forex broker is one which allows the trader to deposit via PayPal. While there is a range of payment methods brokers tend to accept, including Credit/Debit Cards, Bank Transfer and e-Wallets such as Skrill and Neteller, there are Forex brokers which allow PayPal deposits (this facility may not be available in all regions).
The process of creating a Forex trading account typically involves finding or choosing a broker to trade with and signing up with the broker. The trader may wish to trade on a demo account inititally. At some stage, they may want to create a live account. A live account differs from a demo account in that it contains real money, deposited by the trader.
The intitial deposit or minimum deposit is the minimum allowed by the broker to open a live account. This can vary, however $100 is fairly typical. Some brokers allow smaller sums and also may allow smaller trade sizes. The minimum deposit can vary in different regions. The trader may want to deposit more than the minimum amount for a wide range of factors, including that the amount required to open some positions may be greater than the minimum deposit. The payment provider may also have a minimum differing from the broker's minimum deposit.
The payment method is the way to get the deposit from the trader's account to the broker's account. PayPal may be a convenient choice for some traders and the brokers in the table above allow PayPal deposits (and withdrawals).
Having made the initial deposit, the trader can then contemplate trading Forex. If the trader is not familiar with Forex trading then the use of a demo account is highly recommended. Forex is a complex market which can move with retracements against the direction, and trading on a demo account is a way to try and understand that this can be a difficult market to trade.
When trading Forex, a wide range of approaches are used by traders, including technical analysis, which examines the chart for clues about market direction, fundamental analysis which looks to news and data as clues to market direction and even automated trading, which relies on robots (computer programs) to automate Forex trading.
