South African Brokers that Accept PayPal
Paypal is a California-based online payment service founded in 1998. It operates in 202 countries, with over 325 million registered accounts. Moreover, it supports over foreign 25 currencies including USD and EURO. Unfortunately, Paypal does not support the Rand hence many South Africans traders use US Dollar for transactions. Paypal enhances global commerce by allowing users to pay users their preferred methods including bank accounts, credit cards, and payment smart connect. What’s more, it has received over 20 global awards.
Forex and CFD Brokers that Accept PayPal in South Africa
Here is a list of some of the south african forex and CFD brokers that support deposit and withdrawals via Paypal
Regulation: FSCA, ASIC, Spreads: as low as 0,9 pips
Max. leverage: 1:400, Forex pairs: 55, Min. deposit: 100 $
AvaTrade is a leading forex trading broker boasting over 300 000 customers worldwide. It is regulated by the South African Financial Sector Conduct Authority. Additionally, it has scooped numerous services to its top-notch services including the Best Trading Award 2021, No 1 in Innovation 20201, Best Retail Broker in UAE 2021, Best Forex Broker Ireland 2021, and Best Fixed Spread Broker 2021. Besides the exemplary services, AvaTrade accepts Paypal for deposits and withdrawals.
It also accepts other popular payment methods such as Boleto, Qiwi, and Skrill. In addition, you can use wire transfers and major credit cards to fund your account. For security reasons and avoiding illegal activities, you can only withdraw using the method used to make deposits.The minimum deposit amount is $100. The good news is that the broker does not charge any deposit and withdrawal fees. The only cost traders can incur are what banks, e-wallets or card providers might charge. The brokerage firm offers numerous trading platforms including MT4, MT5, AvaTrade Go, and WebTrader.
Regulation: FSCA, CySEC, FCA, Spreads: as low as 0,6 pips (Dynamic)
Max. leverage: 1:30, Forex pairs: 71, Min. deposit: 100 $
Plus500 is a UK-based company that specializes in Contracts for Difference. It has innovative trading technology for various instruments including forex, cryptocurrencies, and commodities. It avails over 2800 instruments that investors can trade on the mobile app, Web trader, and Window 10 trader. Plus500 accepts Paypal for deposit and withdrawal. The platform allows a minimum deposit of $100. Plus500 also accepts Skrill, bank transfers, and credit and debit cards.
Regulation: IFSC, FCA, CySEC, ASIC, Spreads: as low as 0,6 pips
Max. leverage: 1:888, Forex pairs: 55, Min. deposit: 70 ZAR/5$
Boasting over 5 million clients spread in 196 countries, XM is a well-established industry leader in the investment world. It offers over 55 currency pairs and is available in 30 different languages. It holds numerous awards including the Gold Accreditation for Leading and Developing People.XM is quite considerate of traders with small capital.
It accepts a $5 minimum deposit for its micro, standards, and Ultra-low accounts. XM allows traders to deposit trading capital and withdraw profits using Paypal. Other deposit methods include multiple electronic payments methods, bank wire transfers, and credit cards.
Benefits of Using Paypal to Fund Forex Trading Accounts
PayPal has become a preferred method for South African Forex traders to deposit and withdraw funds into their trading accounts. First, it is easy to use, secure, and fast. It also allows flexibility and can be linked with debit and credit cards. It is also relatively cheap.
The benefits of using Paypal are colossal with few challenges. That said, I know you are now anxious to get to the crux of the matter. Which forex brokers in South Africa accept Paypal? Well, Check out our list below.
Paypal is one of the biggest payment wallets in the world. It is a perfect way to fund a forex account without the fear of compromising your cards by filling personal details on forex broker’s websites. Besides instant deposits and same-day withdrawals, PayPal allows you to use the digital wallet or card processing options. Conclusively, Paypal is a highly convenient payment method. Choosing a forex broker with an integrated PayPal option enhances your trading experience.