Quote:
Originally Posted by daydreamer65
Paypal have banned all autosurfs & hyip from using them.
If paypal even get a hint that a company is a scam they
will look into that company very closly indeed.
Also the problem with banning this type of group is the
negative "press" that it can bring about.
I am quite happy to fund my Oanda account using my paypal,
it is a cheaper option than bank transfer for me at this present
time.
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You're right, PayPal is very vigilant. The problem with scams, though, is that they often don't come to light until enough complaints are received. By that time, most scammers have disappeared with the money.
I don't think banning "this type of group" will garner any more negative press than banning all MLM's did. It's not like large, powerful Forex traders use PayPal and they'd fight for the right to continue to do so.
We all know there are many scammers operating as Forex brokers. More important, many people blame their brokers for everything that goes wrong, whether it was the broker's fault or not. So, several complaints could be reason enough for PayPal to suddenly ban them, as PayPal could consider it more hassle than it's worth (as they did with MLM's). This would leave those depending on PayPal in a bit of a bind if that ever happened.
The point I was really trying to make was that the big boys don't use PayPal. It's an option for us smaller traders, but not one that most legitimate brokers would use, as shown by the fact that very few brokers offer it.
Terry