Forex brokers who accept PayPal offer it as a payment option alongside other prevalent ways, reflecting the global popularity of the PayPal payment system.

In foreign exchange, what is PayPal?

• Money transfers to and from a PayPal account are quick, easy, and inexpensive at first. This service is widely used in the United States, Europe, and elsewhere.
• The online payment system PayPal is regulated by the government and works with large and well-known businesses.
• When you use PayPal, your payment is processed instantly, thanks to a secure connection and cutting-edge encryption technology. There are a number of advantages to conducting business anonymously, and the fact that most people from all nations can utilize and consider this payment option is encouraging.

However, due to PayPal’s costs and stringent internal rules, only the largest brokerage houses typically offer it to comply with the necessary standards.

List of Top PayPal Forex Brokers

The best Brokers that allow PayPal are listed below.

•       eToro

The eToro PayPal minimum deposit is currently set at $200, but this amount is subject to change based on your account status. PayPal accepts EUR, GBP, and USD deposits, while eToro only accepts USD. Depositing other currencies may involve a minor conversion cost. You should allow up to 7 business days for funds to reach your eToro trading account when depositing through PayPal.  eToro’s $5 flat fee is the only charge associated with PayPal withdrawals.

•       Pepperstone

If you live outside the European Union, you can use Pepperstone with its support for PayPal and other e-wallets. It may take up to 2 business days for your initial PayPal deposit to appear in your Pepperstone account. After that point, further payments will be handled instantly. If you wish to fund your Pepperstone account with PayPal, the minimum deposit is $5.

Up to three working days may be required for Pepperstone PayPal withdrawals.  If you use PayPal for both deposits and withdrawals, Pepperstone will not charge you any fees.

•       Admirals

Admirals only accept PayPal deposits from UK-based traders. EUR, USD, GBP, CHF, PLN, HUF, CZK, SEK, AUD, and SGD are all acceptable methods of payment when adding funds to your Admirals account using PayPal. The lowest amount that can be deposited through PayPal is $50, and the highest amount that can be deposited to an Admirals account is $15,000.

Withdrawals from Admirals via PayPal have a $1 minimum and a $10,000 maximum.  PayPal deposits are free of charge; however, withdrawals cost 1% of the amount withdrawn, with a $1 minimum, even though Admirals allows for one free withdrawal request every month.

Top FX brokers in Kenya

Here are best forex brokers in Kenya

•       XM

Two of XM’s accounts have a shallow $5 minimum deposit. The Ultra-Low Account has the lowest costs yet the highest required opening deposit. XM’s excellent educational section and the unending sample account are useful features for newcomers.

Extremely Minimal Charges for Your XM Ultra-Low Account

The XM Ultra-Low Account is one of the lowest-cost trading accounts, with a minimum deposit of just USD 50. The minimum spread for trading EUR/USD without commission is 0.6 pips. The Micro Ultra Account is another option for traders that offers the same low fees as the Ultra-Low Account but allows for smaller trades. First-time traders who want to limit their exposure should start with modest trade sizes.

•       Exness

Online forex traders in Kenya also have the option of using Exness. Seychelles-based and regulated by the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA), and the Securities and Futures Trading Authority (SFSA). Its Standard ECN Account is the best option for Electronic Communication Network (ECN) traders.

The minimum deposit for a Standard account is $1, while the minimum for a Pro account is $200. A range of 100:1 to 2000:1 is available. In addition, the spread can change from 0.1 pips to 0.3 pips, depending on your account type.

It’s important to note that Exness is one of the most highly regarded forex trading platforms, which suggests that it is reliable. Several different platforms are available for trading, including MT4, MT5, and even mobile apps.

For international customers who typically have to wait days for withdrawals, the 0.1-second execution time and 24-hour withdrawal processing time are huge bonuses.

When using Exness in Kenya, you may make deposits with your MPesa account, another perk.