PayPal

PayPal is an electronic payment, storage and money transfer method that is operated by PayPal Holdings, Inc., which was owned by eBay Inc. from 2002 to 2014. Founded in 2000, PayPal was one of the first and currently is one of the most popular online services for money transferring. Although there is account balance associated with each PayPal account, PayPal does not employ virtual currency units (unlike, for example, WebMoney), remaining a purely payment system.

Basic PayPal accounts are anonymous and are based on the customer's email address. But the credit card is required to add funds to the balance or to send payments to other customers.

PayPal charges fees for receiving funds and for withdrawing funds from the account balance to bank accounts outside the USA. A sender of the funds does not pay any fees if transfer occurs only inside the payment system. However, senders may choose to pay the fees if they are sending money to family or friends.

PayPal is a convenient electronic payment system to use with the Forex brokers. Because all payments are instant, you can use your credit card without exposing it to anyone except PayPal itself, and there is sufficient number of various brokers that accept PayPal for funding purposes. Unfortunately, PayPal does not allow residents of many countries to accept PayPal payments, making its use pointless for the FX traders based in such countries.

Here is the short list of the Forex brokers that accept PayPal:

• FxGlory
• Deriv

To open an account with PayPal, please go to https://www.paypal.com/.