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    Thread: Why Forex does not allow PayPal Payment Method?

    1. #1
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      Default Why Forex does not allow PayPal Payment Method?

      Why Forex does not allow PayPal Payment Method?


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      elssayed (01-07-2019)

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      Default Re: Why Forex does not allow PayPal Payment Method?

      In fact PayPal is a US firm and it only extend its services to the US citizens and in previous few years it expand its business and even start operating in India but until now there are only a few countries where it is legal, Moreover they are very tough in the regulations and monitoring where they suspect that people can misuse or regulatory framework is not up to standard they never try to enter into that market and even every country wishes that they invite the PayPal to start their services but it's not possible for all.

      I must say this is the most well-regulated firm in the word which is offering e-currency solutions and most of the broker's forex brokers whom we are dealing with are operating from the counties where PayPal is not available or not operating so it's not possible for brokers to offer deposits and withdrawals through PayPal. Even there are the US and few UK brokers which are offering deposit and withdrawals through PayPal.


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      elssayed (01-08-2019)

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      Default Re: Why Forex does not allow PayPal Payment Method?

      Most Of Forex Brokers Don't allow PayPal Payment Method In Because The Following Reasons :

      1- PayPal Is Very Costly To Both Brokers and Traders Because It Has Fees And Commission Per Transfer Higher Than Other Electronic Banks and it can cost at Least 3% Per Transaction While other Electronic Bank's Cost Don't Exceed 1.5 % .

      2- PayPal Has Many Rules and Restrictions To Each Country : And One of these Restrictions Which Make Brokers Avoid Using It In the Dealing is PayPal Restrictions In Some Countries To Remit Money Out For Margin Trading .

      3- PayPal Doesn't Has FCA UK License : Which Considered As The Strongest and Has Prompt Responding Regulatory Corporation In The World Of Forex Trading So Most Of Brokers Prefer The Electronic Banks Which Has FCA UK License as Skrill, Nettler, ... etc .

      4- Charge-backs In PayPal Is Not Allowed For Intangible Products : Such As Forex Brokers Payments Because it allows By Charge-backs Only For Physical Products .

      5- PayPal Report KYC To Many Countries : and KYC Means ( Know Your Customer which ) Which Makes a Worry for most of traders about their Privacy .

      So because Of The Mentioned above Five Reasons Most Of Forex Brokers Don't Prefer To Use PayPal In The Dealing .


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      Hotovaga (01-09-2019), Unregistered (1)

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      I also don't really understand why PayPal can't be used as a payment tool at Instaforex. even though paypal is a payment tool that is very safe and easy for us to use. We also have to understand various payment instruments that can help us to easily make transactions in the form of deposits or withdrawals. so if there is a payment instrument that is very easy to make a temporary deposit when withdrawing funds is difficult then we should leave and change with the one that always gives us convenience.


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