Why use long, drawn-out bank account transfer methods to fund your online forex trading account? PayPal is one of the most preferred modes of online transaction across the globe. It allows the trader to fund live trading accounts instantly; while minimizing the risk of online transactions.
How to Set Up a PayPal Forex Account
Visit the PayPal website and sign up for a PayPal forex account. The PayPal online transaction service offers online accounts free of cost. You can simply fill an online registration form, which is similar to an email account form. The most important step in the PayPal forex account opening procedure is to link it to the fund transfer source. You can opt to link your PayPal account with your credit card, debit card or a normal bank account. Being an industry leader in the online transaction service sector, PayPal adheres to the highest internet security standards to preserve user information. It employs SSL (secured socket layer) technology to restrict unauthorized access to the user details. Thus, you can provide your bank account or credit card details without any fear.
Once the sign up form is completed, your PayPal forex account will become active. You can use this account to perform online transactions through websites that support PayPal.
Funding Online Forex Trading Account with PayPal
Follow these steps to transfer money into your online forex trading account through PayPal forex:
- Log in to your online forex trading account
- Click on the deposit money option. The placement of this option may vary across different broker platforms. Mostly you will find the deposit option in the account balance section.
- Choose PayPal as the mode of money transfer
- Enter the details as required by the website, such as the PayPal email account and the deposit amount.
- When you are directed to the PayPal website, log in to your PayPal forex account
- Confirm the transaction by clicking on ‘Pay’
The PayPal forex account is an easy method to fund live trading accounts within minutes. However, some trading platforms do not support PayPal due to codes and procedures established by forex market authorities.
Some Major info about PayPal
It is an American online payment system, was founded in December 1998. The Headquarters located at 2211 North First Street San Jose, California, U.S. (corporate headquarters) La Vista, Nebraska, U.S. (operative center).