There are currently no binary options brokers that accept Paypal. Either as a method of deposit or withdrawal. These pages will of course be updated where a broker starts accepting Paypal, but for now the money transfer provider has stopped working in the binary sector – brokers have also moved away from Paypal due to the high transaction costs.
We recommend looking at other eWallet providers – namely Skrill and Neteller. Most brokers widely accept these firms.
Top brokers that accept Skrill or Neteller
About Paypal
When PayPal first traded in December 1998, it initially consisted of two separate entities. As the business grew, these two businesses came together in 2000 into a single entity. The company was then purchased by eBay in 2002 for $1.5 billion. Today, PayPal is one of the leading providers of online payment services with over 300 million users in 200+ markets. Some countries are not supported by PayPal, such as Afghanistan, Bangladesh, Iraq, Montenegro, Pakistan and any that appear on the US sanctions list.
PayPal offers an online payment system known for reliability and ease of use. Once the eWallet account is opened and verified, no special maintenance is required on the part of the users. Where users have sufficient funds in their account, funds can be transferred almost instantly to other PayPal account holders or merchants that accept PayPal as a payment method. Account holders can also link their credit card or bank account to their account. This eliminates the need for users to enter their credit card details online for every transaction. In addition, it also gives customers the ability to make payments even if there are insufficient funds in the Paypal balance – any shortages are requested from the card or via bank transfer.
Reliability of the payment method
Although PayPal is owned by a US company and is licensed by US regulatory authorities as a money transmitter under Federal Reserve Regulation E, it also operates within any local regulatory requirements. For example, operations within the European Union are handled by a Luxembourg bank under “PayPal” in accordance with the MiFID of the EU. Other international operations are handled by their office in Singapore.
Although simple to use, safety remains a key strength. Their system is protected with one of the strongest encryption systems online. In addition, accounts are monitored for suspicious or irregular activity from an account. This can immediately trigger an alert that results in the account being frozen until the identity of the account holder is verified.
Paypal in the binary sector
Despite the clear benefits of PayPal online payment system, PayPal is not accepted by most binary brokers because of the high transaction fees (around 6.4%) it imposes on each transaction. Binary brokers have also suffered due to the poor reputation of the product – Paypal decided to stop working with certain brokers before finally exiting the sector.