Best PayPal FOREX Brokers 2024

Electronic payment platforms have revolutionized the way the world conducts financial transactions. From the early days of online banking to the sophisticated digital wallets and mobile payment solutions we use today, these platforms have become integral to our daily lives and, more importantly, to retail trading.

Electronic payment platforms have enhanced the efficiency and convenience of financial transactions, making sending and receiving money globally easier. Among the most popular electronic payment platforms are PayPal, Neteller, and Skrill. Each offers unique features and benefits that cater to your diverse needs. 

In this article, we will explore the mechanics of electronic payment platforms, examine the best brokers that accept PayPal as a payment method, and provide a detailed comparison of different payment methods. Our Arincen experts will also discuss security measures, costs, and the benefits of these platforms.

How Electronic Payment Platforms Work

Electronic payment platforms make transferring money easy through advanced technology, robust security measures, and seamless integration with financial institutions. Understanding these mechanics helps you appreciate these platforms' efficiency and security.

Basic Mechanics of Electronic Payments

At a basic level, electronic payment platforms facilitate funds transfer between parties through digital means. These platforms act as intermediaries, processing payments without the need for physical cash or checks. Here’s a breakdown of the mechanics:

• You register an account by providing basic information such as your name, email address, and phone number to create an account.

• Users link their bank accounts or credit/debit cards to the platform. This involves entering bank details and verifying ownership.

• The platform usually requires verification through email, phone, or identity verification

• The user initiates a transaction through the platform, whether it’s paying for goods, transferring money, or depositing funds into a brokerage account.

• The platform verifies your identity through login credentials and, often, additional security measures like two-factor authentication.

• The platform processes the transaction by communicating with your bank or credit card issuer to authorize and transfer the funds.

• Once the funds are transferred, the platform confirms the transaction with both the sender and the recipient, completing the process.

Security Measures and Encryption

Security is paramount in electronic payments to protect against fraud and unauthorized access. Payment platforms like Paypal employ multiple security measures, including:

• All transactions are encrypted using advanced encryption standards (AES), ensuring that data transferred between the user, platform, and banks is secure.

• Secure Sockets Layer (SSL) and Transport Layer Security (TLS) protocols encrypt data transmitted over the internet, protecting sensitive information from interception.

• Two-factor authentication (2FA) requires a second form of verification, such as a code sent to the user’s mobile device, to enhance account security.

• Platforms use sophisticated algorithms and machine learning to detect and prevent fraudulent activities.

• Payment platforms comply with industry standards like Payment Card Industry Data Security Standard (PCI-DSS) to ensure secure handling of payment information.

Best Brokers That Accept Paypal Payment Solutions

Company name	Regulations	Minimum deposit	Main branch	Open account
ICM Capital	FCA	500$	United Arab Emirates	Open account Review ICM Capital
Tradeview	FCA	250$	USA	Open account Review Tradeview
XTB	FCA	500$	UK	Open account Review XTB
IG	FCA	500$	UK	Open account Review IG

Open account

Company name	ICM Capital
Regulations	FCA
Minimum deposit	500$
Main branch	United Arab Emirates

Open account

Company name	Tradeview
Regulations	FCA
Minimum deposit	250$
Main branch	USA

Open account

Company name	XTB
Regulations	FCA
Minimum deposit	500$
Main branch	UK

Open account

Company name	IG
Regulations	FCA
Minimum deposit	500$
Main branch	UK

Types of Electronic Payment Platforms

Electronic payment platforms come in various forms, each offering unique features and benefits. Understanding the different types can help you choose the most suitable option for your needs. 

Digital Wallets

Digital wallets, also known as e-wallets, are online services that allow users to store and manage their payment information in one place. They facilitate quick and secure transactions, both online and in-person. As we have said, some of the most popular digital wallets are:

PayPal

PayPal is one of the most widely used digital wallets globally, offering a secure way to send and receive money online. It supports payments for goods and services, peer-to-peer transfers, and integration with numerous online merchants.

PayPal provides buyer protection, easy dispute resolution, and the ability to link multiple bank accounts and credit cards. It also offers services like PayPal Credit for deferred payments.

Skrill

Skrill is a digital wallet known for its low fees and ease of use, and it is particularly popular among online gamblers and FOREX traders. It supports multiple currencies and offers a prepaid Mastercard for direct access to funds.

Neteller

Neteller is similar to Skrill, catering primarily to the online gambling and trading communities. It allows users to make instant deposits and withdrawals at various online merchants.

Mobile Payment Solutions

Mobile payment solutions allow you to transact using your smartphone or other mobile devices. These solutions are particularly convenient for in-person payments and on-the-go transactions. This space is becoming increasingly competitive, but some of the most prominent mobile payment solutions include:

Apple Pay

Apple Pay allows you to make secure payments using your Apple devices, including iPhones, iPads, and Apple Watches. It works both online and in physical stores equipped with Near Field Communication (NFC) technology.

Google Wallet

Google Wallet, now integrated with Google Pay, allows you to store your payment information and make secure transactions using Android devices. It supports online payments, in-app purchases, and in-store transactions with NFC technology.

Cryptocurrency Payment Platforms

With cryptocurrency payment platforms, you can transact using digital currencies like Bitcoin. These platforms provide a decentralized, secure way to transfer funds without relying on traditional banking systems.

Bitcoin Wallets

Bitcoin wallets store private keys necessary for accessing and managing Bitcoin funds. They come in various forms, including hardware wallets, software wallets, and online wallets.

Other Crypto Payment Solutions

Beyond Bitcoin, many other cryptocurrencies have dedicated wallets and payment solutions. Platforms like Ethereum, Litecoin, and Ripple have their own wallets and payment networks.

Pros and Cons of Using Paypal Brokers 

Using PayPal as a payment solution with retail brokers offers several advantages and some potential drawbacks. Understanding these can help you make informed decisions about integrating PayPal into your trading activities.

Pros

Ease of use: PayPal is user-friendly, with a straightforward setup process and an intuitive interface. Linking PayPal to a brokerage account is quick, allowing you to deposit and withdraw funds effortlessly.

Fast transactions: PayPal transactions are processed instantly or within a few minutes. This is exactly what you need in a fast-paced trading environment.

Encryption and fraud protection: PayPal uses advanced encryption technologies and robust fraud detection systems to protect your data and transactions.

Buyer protection: In case of unauthorized transactions or disputes, you could benefit from buyer protection policies depending on the specifics of your case.

Worldwide reach: The payment provider is available in over 200 countries and supports multiple currencies, making it an ideal payment solution for international traders.

Cross-border transactions: PayPal facilitates seamless cross-border payments, allowing you to transact with brokers and clients around the world without hassle.

Versatile usage: It’s not just trading that you get with Paypal. It can also be used for various other financial activities, such as online shopping, bill payments, and peer-to-peer transfers.

Merchant compatibility: Many online merchants and services accept PayPal, making it one of the go-to online payment platforms for traders.

Cons

High fees: PayPal charges fees for certain transactions, including currency conversion and withdrawals to bank accounts. These fees can add up, especially if you make frequent transactions.

Deposit and withdrawal Fees: Some brokers may also charge additional fees for deposits and withdrawals made via PayPal, increasing the overall cost of using this payment method.

Merchant limitations: Not all brokers accept PayPal, so you should make sure that you check with your broker before signing up with them.

Strict policies: PayPal’s strict compliance and security policies can sometimes result in account suspensions. You should understand what these policies are to stay on the right side of them.

Costs and Fees Associated with PayPal

When using electronic payment platforms for trading or other financial activities, it’s essential to understand the various fees that can impact the overall cost of transactions. These fees can vary depending on the platform, the type of transaction, and the currencies involved. Here, we explore the different types of fees associated with electronic payment platforms and provide strategies to minimize these costs.

Explanation of Various Fees

Transaction fees: These charges are applied for processing payments. The fees are typically a percentage of the transaction amount, sometimes with an additional fixed fee.

Currency conversion fees: These amounts are charged when a transaction involves converting one currency to another and may include a markup on the exchange rate.

Withdrawal and deposit fees:These fees are charged when transferring funds between the payment platform and a bank account or another payment method. They can vary based on the platform and the type of transfer.

Strategies to Minimize Costs

You don’t have to accept all the fees you encounter. By conducting thorough research, you have the opportunity to hand pick the best PayPal broker that gives you the right deal. Here are some actions to take:

Comparison shopping: Compare the fees of different payment platforms before choosing one. Some platforms may offer lower fees or better exchange rates.

Special deals: Look for platforms that offer promotions or fee discounts for new users or specific types of transactions.

Batch transactions: Combine multiple smaller transactions into a single larger transaction to reduce the overall percentage of transaction fees.

Avoid peak times: Conduct transactions during off-peak times when platforms may have lower fees or less demand for their services.

Avoid conversion fees: Wherever possible, conduct transactions in the same currency to avoid conversion fees. This might involve maintaining balances in multiple currencies.

Currency accounts: Some platforms allow you to hold balances in different currencies, enabling you to pay and receive funds without conversion.

Minimize withdrawal fees: Linking your payment platform account directly to your bank account can reduce or eliminate withdrawal fees. Some platforms charge less for direct bank transfers compared to other methods.

Use bank transfers: Opt for bank transfers instead of card withdrawals to save on additional fees.

Favorable exchange rates: Keep an eye on exchange rates and conduct conversions when rates are more favorable to reduce currency conversion costs.

Fixed rate options: Some platforms offer the option to lock in exchange rates for future transactions, providing cost predictability.

Rewards programs: You should always make the most of rewards or loyalty programs offered by the payment platform. For example, Skrill’s Knect program rewards users with points that can offset transaction costs.

Premium accounts: Consider upgrading to a premium account if it offers lower fees or additional benefits that justify the cost.

Comparison of Paypal with Other Payment Methods

When choosing a payment method, it’s essential to consider factors such as transaction speed, security features, convenience, fees, volatility, and acceptance. Here, we compare PayPal with credit/debit cards, bank transfers, and cryptocurrencies.

Electronic Payment Platforms vs. Credit/Debit Cards

Transaction speed

PayPal: Transactions are typically processed instantly or within a few minutes, providing you with quick access to funds.

Credit/debit cards: Most card transactions are also processed quickly, often within minutes. However, some international transactions might take longer to settle.

Security features

PayPal: Offers advanced encryption, fraud detection, and buyer protection policies. PayPal transactions do not require sharing card details with merchants, adding an extra layer of security.

Credit/debit cards: Banks and card networks provide robust security features, including encryption, fraud alerts, and zero-liability policies for unauthorized transactions. However, card details are shared with merchants during transactions, which could pose a risk if the merchant's system is compromised.

Electronic Payment Platforms vs. Bank Transfers

Convenience and processing time

PayPal: Highly convenient with user-friendly interfaces. Transactions are generally instant.

Bank transfers: Typically less convenient, requiring more steps and longer processing times. Domestic transfers can take a few hours to a day, while international transfers might take several days.

Fees and Charges

PayPal: Charges fees for certain transactions, such as receiving payments for goods and services, currency conversion, and withdrawals to bank accounts.

Bank transfers: Fees vary by bank and transfer type. Domestic transfers are often low-cost or free, but international transfers can be expensive due to transfer fees and unfavorable exchange rates.

Electronic Payment Platforms vs. Cryptocurrencies

Volatility and Acceptance

PayPal: It’s stable and widely accepted by merchants and service providers globally. PayPal also supports cryptocurrency transactions but mostly operates with fiat currencies.

Cryptocurrencies: Highly volatile, with significant price fluctuations as we have seen over the last couple of years. Acceptance is growing but still limited compared to traditional payment methods. Cryptocurrencies are not universally accepted.

Ease of Use and Mainstream Adoption

PayPal: Easy to use with a straightforward setup process. Widely adopted and trusted by millions of users and merchants worldwide.

Cryptocurrencies: They require a higher level of technical knowledge and understanding. Setting up a wallet and securing private keys can be challenging for non-technical users. Mainstream adoption is increasing but remains low.

How to Use Paypal with FOREX Trading?

Using PayPal with FOREX trading is a good call because it can streamline transactions, provide added security, and offer convenience. Here’s a detailed guide on how to link PayPal to your brokerage accounts, manage funding and withdrawals, and understand the advantages of using this platform for trading.

Steps to Link Payment Platforms to Brokerage Accounts

Not all processes will be exactly like this between brokers, but this is close enough to a universal way to link payment platforms.

Choose a FOREX Broker that Accepts PayPal

• Ensure the broker is regulated and has good reviews.

• Create an account with the chosen Forex broker.

• Log in to your FOREX trading account on the broker’s website.

• Navigate to payment options and go to the “Deposit” or “Payment Methods” section.

• Choose PayPal as your payment method. You will be redirected to PayPal’s website.

• Log in to your PayPal account and authorize the broker to access your PayPal funds. Confirm the linking process.

Note that some brokers might require additional verification, such as submitting ID documents or proof of address.

Best Brokers that Accept Paypal Payment Solution

When choosing a FOREX broker that accepts PayPal, you need to consider various criteria to ensure you select a reputable and efficient broker. Here are the key factors to look for in brokers accepting PayPal.

Regulation and Licensing

Ensure the broker is regulated by a reputable financial authority, such as the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), or the Commodity Futures Trading Commission (CFTC). Regulation provides a layer of protection for traders, ensuring the broker adheres to industry standards and practices.

Trading Platforms and Tools

The broker should offer intuitive and robust trading platforms, like MetaTrader 4 (MT4), MetaTrader 5 (MT5), or their proprietary platforms. Look for advanced trading tools, charting capabilities, technical analysis, and mobile trading options to enhance your trading experience.

Fees and Commissions

Ensure the broker offers tight spreads on major currency pairs. Check if the broker charges commissions on trades and compare them with other brokers to ensure they are competitive. Be aware of any additional fees, such as deposit and withdrawal fees, inactivity fees, or account maintenance fees.

Customer Support

The broker should offer responsive customer support available 24/5 or 24/7. Look for brokers that provide support through various channels, including live chat, email, and phone. Efficient and knowledgeable customer service can significantly enhance your trading experience, especially when resolving issues promptly.

Best Brokers That Accept Paypal Payment Solutions 2024 With Pros and Cons

• ICM Capital-91.10: Best Deposit and Withdrawal Broker

• Tradeview - 90.00: Trusted broker that offers very low trading costs as well as comprehensive financial literacy materials for its clients.

• XTB - 85.55: Best Customer Service Broker

• IG - 85.45: Best Regulations Broker plus Convenient Platform

• Saxo Bank - 80.09: Excellent Private Trading Platform

• CMC Markets - 80.07: More than 9,000 Assets

• ThinkMarkets - 80.05: Aimed at the Audience of Traders

ICM capital Broker

ICM Capital is considered the industry leader in deposits and withdrawals, whereby each withdrawal does not take more than five business days. Moreover, the company offers its customers a handy credit card to withdraw their profits, in addition to enabling customers to use various deposit methods. The company, which is licensed by the UK's FCA, has several branches around the world. Among other things, it has a rich portfolio of assets, especially stocks, offers a low spread, as well as the ability to use MT4.

Broker Evaluation	8.11
Regulatory Bodies	FCA
Minimum Deposit	500$
Islamic Account	yes
Payment Methods	Bank transfer - credit card - Electronic Banks - Crypto
Main Branch	United Kingdom
Customer Service	24/5
Demo account	yes
Trading Platforms	MT4 - MT5 - C TRADER -Web Platform

Pros

• Segregated client funds.
• Regulated by the UK’s FCA.
• Established in 2009.
• More than 10,000 ICM Capital users and traders.
• Reasonable minimum deposit from $500.
• Decent funding options.
• No swaps.
• MetaTrader4 (MT4) desktop and mobile download.

Cons

• Does not allow scalping.
• Not ASIC-regulated.
• Relatively limited range of instruments.
• Slow live-chat service.
• Relatively high trading fees.
• Limited range of trading tools and resources

Open Account

Tradeview Broker

Tradeview Forex, interchangeably known as Tradeview Markets, was established in 2004 and is headquartered in the Cayman Islands, setting itself up as a significant player in the online FOREX and CFD trading world. Regulated by the Cayman Island Monetary Authority (CIMA) and the Malta Financial Services Authority (MFSA), Tradeview Forex is a reliable platform in a competitive market​​​​. The broker’s commitment to offering a broad and accessible trading environment shines through with its low deposit requirement and how it provides various advanced trading platforms to clientele.

Broker Evaluation	7
Regulatory Bodies	FCA
Minimum Deposit	$450
Islamic Account	Yes
Payment Methods	Bank transfer - credit card - Electronic Banks - Crypto
Main Branch	USA
Customer Service	24/5
Demo account	Yes
Trading Platforms	Proprietary Platform-MT4 - MT5 -Web Platform

Pros

• Established in 2004.
• Variety of trading platforms, such as MT4, MT5, cTrader, and Currenex, catering to different trading preferences and strategies.
• Low minimum deposits.
• beginners and experienced traders looking to refine their strategies.
• Supports automated trading through the use of Expert Advisors (EA) on MT4 and MT5 platforms.
• Decent leverage levels of 1:200 available in some jurisdictions.
• Regulated by CIMA, MFSA, and will soon be regulated by the UK’s Financial Conduct Authority (FCA).

Cons

• While regulated by CIMA and the MFSA, the broker is still in the final stages of becoming regulated by the tier-one FCA.
• Trades on the Innovative Liquidity Connector® account are subject to commission charges, which may add to trading costs.
• While offering high leverage up to 400:1 can be an advantage, it also introduces significant risks, especially for new traders.

Open Account

XTB Broker

What distinguishes XTB is the fact that it offers the best customer experience among all the companies we have surveyed. Indeed, it boasts the fastest response rate from all the companies under investigation. This is especially relevant, since the market is always on-the-go, and so you need to act fast. XTB offers lots of asset classes, as well as the ability to use the MT4 trading platform. Finally, it maintains a relatively low spread, which is suitable for quick deals.

Broker Evaluation	8.55
Regulatory Bodies	FCA
Minimum Deposit	500$
Islamic Account	yes
Payment Methods	Bank transfer - credit card - Electronic Banks
Main Branch	United Kingdom
Customer Service	24/5
Demo account	yes
Trading Platforms	MT4 - MT5 -Web Platform

Pros

• Long history of operation.
• Globally recognized, having won multiple awards.
• Some of the lowest FOREX spreads in the market.
• Regulated by the FCA (UK).
• Offers protection for client accounts.
• Emphasis on customer service.
• Excellent support, learning and research tools.

Cons

• Does not accept US clients.
• Non-FOREX spread costs are relatively high.
• No GSLO.
• No back-testing or automated trading capabilities.
• Conditions vary according to regulation and entity.

Open Account

ig markets Broker

IG is arguably the best broker when it comes to security and trust, boasting, as it does, licenses from 10 regulatory bodies, including the all-important FCA from the UK. The company is also a bank and is a publicly traded company in London. It is known for offering more than 10,000 asset classes of currencies, commodities, future contracts, ETFs, indices, cryptocurrencies etc. Further, it has its own state-of-the-art trading platform and offers a relatively low spread.

Broker Evaluation	7.54
Regulatory Bodies	FCA
Minimum Deposit	250$
Islamic Account	yes
Payment Methods	Bank transfer - credit card - Electronic Banks
Main Branch	United Kingdom
Customer Service	24/5
Demo account	Yes
Trading Platforms	Proprietary Platform -MT4 - Web Platform

Pros

• Easy-to-navigate platform that is simple for beginners to master.
• Margin rates are easy to understand and affordable.
• Mobile and tablet platforms offer full functionality of the desktop version.
• Accepts US clients.
• Access to more than 100 currency pairs
• Emphasis on education and research.
• Regulated by the FCA (UK), as well as the CFTC and the NFA (US).
• Offers protection for UK/EU client accounts.

Cons

• US traders can currently only trade FOREX.
• No GSLO for US-based traders.
• No account protection for US clients.
• Relatively high share-CFD fees.
• No copy trading or back-testing integration on IG platform.

Open Account

SAXO BANK Broker

Saxobank is considered one of the best investment banks in the area of financial markets and currencies, as it offers the very best trading platform and tools from all the companies we have reviewed. Meanwhile, its spread is very low and, as such, suitable for short-term deals; and it offers a large number of asset classes, including currencies, commodities, indices etc. Finally, its customer service is excellent and very responsive to traders' needs.

Broker Evaluation	6.09
Regulatory Bodies	FCA
Minimum Deposit	5000$
Islamic Account	No
Payment Methods	Bank transfer - credit card
Main Branch	Copenhagen, Denmark
Customer Service	24/5
Demo account	No
Trading Platforms	SaxoTrader

Pros

• Extensive range of offerings.
• Regulated by the FCA (UK) and other top regulators.
• Great trading platform.
• Among the industry’s best research.
• Superior user interface.
• Offers protection for client accounts.

Cons

• High bond, options and futures fees.
• Lack of emphasis on customer service.
• Confusing instrument fee structures.
• High minimum deposit.
• Does not accept US clients.
• No MT4.
• Lacks live chat.

Open Account

CMC MARKETS Broker

CMC Markets is thought of as one the best companies, offering some 9,000 asset classes that encompass currencies, commodities, indices, cryptocurrencies, bonds and stocks. The company offers a relatively low spread, the MT4 platform, and fast customer service. It is most suited for traders looking for diversity in asset classes.

Broker Evaluation	7.07
Regulatory Bodies	FCA
Minimum Deposit	0$
Islamic Account	No
Payment Methods	Bank transfer - credit card - Electronic Banks
Main Branch	United Kingdom
Customer Service	24/5
Demo account	not
Trading Platforms	Proprietary Platform -MT4 - Web Platform

Pros

• Extensive range of offerings.
• Regulated by the FCA (UK).
• Low FOREX fees.
• Emphasis on education and customer service.
• Great Web and mobile platforms.
• Offers protection for client accounts.
• Research amenities are industry leading.

Cons

• Does not accept US clients.
• Limited product portfolio.
• High stock CFD fees.
• High CFD spreads for certain indices.
• Differences between Next Generation and MT4.
• Complicated account verification.
• No back-testing or automated trading capabilities.

Open Account

think markets Broker

Originally founded in New Zealand in 2010, and moving to Australia within the space of their first two years, Think Markets is a global online brokerage focusing on FOREX and CFD trading. In addition to a range of major and minor currency pairs. Think Markets has an array of CFDs on offer. This includes indices, as well as hard and soft commodities.

Broker Evaluation	8.05
Regulatory Bodies	FCA
Minimum Deposit	0$
Islamic Account	yes
Payment Methods	Bank transfer - credit card - Electronic Banks - Crypto
Main Branch	Australia
Customer Service	24/5
Demo account	not
Trading Platforms	Proprietary Platform -Web platform-mt4- mt5

Pros

• Beginner assistance offered through 24/6 channels.
• Spreads are as low as 0.0 pips.
• 24/7 expert customer service.
• CFD shares and indices come at no extra fee.
• Zero broker fees for FOREX trading.
• Technical analysis and quality market information.
• Percentage allocation management module (PAMM) and Multi-account manager (MAM) accounts available.

Cons

• Direct share trading is on a separate platform.
• No binary options offered.
• Commissions charged for two account types.
• After a strong early start, ThinkTrader user ratings have slid to 3.4 stars.
• No US, Canada or Japan clients allowed.

Open Account

Security and Fraud Prevention

PayPal uses various measures to protect consumers from scams and fraud. First, they use SSL/TLS Encryption, which ensures that data transmitted between your device and their servers is encrypted and secure. Through 2FA, you must provide two forms of identification before accessing your account, adding an extra layer of security.

Of course, in today’s world, you would have been asked to complete a Know Your Customer (KYC) process thatrequires you to provide identification documents to verify your identity. How does this help you against fraud? Well, it reduces the likelihood of fraudulent accounts being created.

Like many diligent financial institutions, it is highly likely that PayPal continuously monitors account activity to detect and prevent unauthorized transactions. It will send alerts for unusual activities, such as login attempts from new devices or locations. PayPal also uses machine-learning algorithms to  analyze transaction patterns and flag suspicious activities in real-time.

Regulation is another important backstop for fraud. For example, by adhering to the Payment Card Industry Data Security Standard, PayPal must abide by requirements for security management, policies, procedures, network architecture, and software design.

By employing these sophisticated security measures, online payment providers like PayPal work to protect you from scams and fraud. Their multi-layered approach combines advanced technology, regulatory compliance, and user education to create a secure online payment environment.

Who is Arincen and What do we do?

Put simply, Arincen is a social networking platform that brings together traders and experts to exchange expertise and ideas. Together, we evaluate the best FOREX companies in the world while offering a compressive suite of services and tools, all in one place, either via a computer or a mobile app. The platform is so rich that one can create his own private portfolio of traders and experts they like and, at the same time, follow the experts’ recommendations and investment sentiments.            

Further, thanks to Arincen, users can keep an eye on market-price developments, as well as the latest news. Users can also benefit from the network’s educational courses on offer, to say nothing of exciting Webinars – all done in a modern and fast-paced work environment. Get all you need in one place, not less, not more. In short. Arincen: We Meet to Simplify the Trading World.   

Conclusion

Electronic payment platforms like PayPal have changed the way we carry out financial transactions by offering convenience, security, and efficiency. These platforms make seamless global money transfers a formality through advanced encryption and robust security measures to protect users. PayPal has unique features catering to diverse needs, whether it's for trading, online shopping, or peer-to-peer transfers.

Where PayPal comes in very handy is in the area of FOREX trading, as it makes a reliable and robust payment method. However, you must consider the associated costs, such as transaction fees and currency conversion charges, to make informed decisions. By understanding the mechanics, security protocols, and fee structures of these platforms, you can make the most of the benefits while minimizing costs, ensuring a secure and successful trading experience.

Methodology

The team at Arincen collected more than 120 pieces of data covering more than 100 licensed FOREX companies. Data collection was done in three ways:

1. Companies’ websites.

2. Other websites that have ranked FOREX companies.

3. A survey questionnaire (called Survey “1”) was sent to the companies invited to participate in the exercise. We have identified 13 criteria for our assessment, each containing several aspects and carrying its relative weight. These include licensing, deposits and withdrawals, and the number of assets.     

Afterward, we validated the data by:

1. Registering with FOREX companies as a secret shopper and/or as Arincen.

2. Survey number “2,” in which we asked these companies’ customers for important feedback and experience.

The next step was to evaluate and rank each company, relying on the hard work of 15 Arincen employees. We were cautious in ensuring the most accurate assessment possible, including considering different languages and the various mobile-app operating systems, e.g., Apple, Samsung, etc.

To add credibility to our research project, we sent a third and final survey (referred to here as Survey “3”) to enable participating FOREX companies to evaluate our research and whether it accurately reflects the realities on the ground. We were fortunate enough to receive a mark of 9.9 out of 10! We have kept the margin of error to a minimum, which stood at a measly 1%. To learn more about how we came up with the evaluation, please click here.

Written by

Adrian Ashley

Adrian Ashley is a seasoned business and finance writer. With a corporate career spanning over 20years, he has developed deep experience in such diverse areas as investing, business, finance,technology and macroeconomics. He is passionate about captu...

Edited by

Richard Sine

Richard Sine is a long-time technical editor and writer. His credits include a weekly column in the...

Fact Checked by

Bahaa Khateeb

 Bahaa Khateeb is currently the CEO of Arincen, a start-up Fintech company based in Haifa. Baha...