At present there are 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 operating in the binary sector – brokers have also moved away from Paypal due to the high transactions costs.
We recommend looking at other eWallet providers – namely Skrill and Neteller. These firms are widely accepted by most brokers.
When PayPal first traded in December 1998, it was initially made up of two of two separate entities. As the business grew these two companies came together in year 2000 into a single entity. The business was then purchased by eBay in 2002 for $1.5 billion. Today, PayPal is one of the leading online payment service providers with more than 300 million users in 200+ markets. Some countries remain unsupported by PayPal, such as Afghanistan, Bangladesh, Iraq, Montenegro, Pakistan, and any listed on the U.S economic sanction list.
PayPal provide an online payment system that renowned for reliability and being easy to use. Once the eWallet account is opened and verified, there is no special maintenance required on the part of users. Where users have sufficient funds in their account, monies can be transferred almost instantly to other PayPal account holders or merchants who 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 have to post their credit card details online for each transaction. In addition, this also gives customers the ability to make payments even when there are not sufficient funds in the Paypal balance – any shortfall will be requested from the card or via wire transfer.
Although PayPal is owned by an American company and is licensed by the U.S regulatory authorities as a money transmitter under the Federal Reserve Board Regulation E, it operates within any local regulatory requirements too. For example, operations within the Europe Union are handled by a Luxembourg-based bank under “PayPal” in line with the EU‘s MiFID. Other international operations are handled by their Singapore based office.
Although simple to use, security remains a key strength. Their system is protected with one of the strongest encryption system online. In addition, accounts are monitored for suspicious, or irregular activity from an account. This can immediately trigger an alert leading to the freezing of the account until the identity of the account holder is verified.
Despite the obvious benefits of PayPal online payment system, PayPal is not widely accepted by most binary brokers because of the high transaction fees (around 6.4%) that it imposes on each transaction. Binary brokers also suffered due to the poor reputation of the product – Paypal deciding to stop dealing with certain brokers, before ultimately halting working in the sector at all.