Paypal to fund broker

Used PayPal once to fund a very well known Broker Oh and because the name on my account had my middle initial and my paypal account did not the money went astray. Neither party could say where a considerable sum was for several days. So then you have to issue a paypal dispute etc etc. Then the broker says you have cancelled the transaction he cant help etc etc it all snowballs
So make sure your account names are exactly the same.

I would be cautious with it. I had a problem with PayPal a while back. Now that said I still use them, lol. But I ran into a situation with a person who offered movie downloads, his site was some how attached to the Hallmark channel. I wrote and let them know, I was sure they didn’t know. I wanted to download this army movie about American soldiers trapped with German soldiers during Christmas in a forest behind enemy lines its a good movie, well his sight popped up. I had to pay like $60.00 well long story short I never got a thing. I canceled my membership according to his own policy, and I found out his sight was one of those you down load boot legged movies from. I brought all of this up to PayPal and it made no difference to them they rule in his favor I could not believe it. I closed my account filed a complaint with the State of Texas Attorney General Office, but nothing became of anything as far as I know except the guys website is no longer so maybe he was put out of business. So I would not trust PayPal!!

Tao Date i had no Problems with PayPal.

I haven’t had any problems with PayPal and my Trading accounts. The only thing is it can take longer to get your withdrawals. I have found it can add up to three days

I’ve been using PayPal to fund and withdraw from my Broker account for several months plus I’ve used it for other transactions for years and have only found it to be consistently easy, dependable, secure and most of all free.

A couple times a long time ago someone hacked in either there or through my bank and a couple purchases were made I did not authorize and PayPal refunded all of the money to me very quickly. They have since notified me of their greatly improved security and there have been no violations since. In this day what agency or institution hasn’t been hacked anyway? So to not be hacked anymore is saying something for their security measures.

Perhaps they have flags when large amounts of money pass through…I do not know about all that yet as I transfer amounts less than $1,000 mostly, but as a service I’m very glad I don’t have to pay them anything to use it. I believe they are the only money transferring service that is free to use and yet is world wide, secure and trustworthy.

All money transferring services must have firewalls and high security measures and with proper responsibility on my part to change my password regularly as one should on every communication or vital service site they use anyway, there is no problem as far as I’m concerned.

yes Paypal can be a pain & expensive too. But really watch out for Clickbank who appear to be completely unregulated; at least Paypal are regulated,

Jeff

Paypal is a good payment processor for online business except Forex, Paypal is very strict and that’s the reason why there are no many brokers support PP. I’m trading with HotForex and I’m using Skrill, it is a better method to fund broker for your trading.

http://www.paypalsucks.com/
http://www.paypalsucks.com/
oh yeah and in case I forgot to mention it… http://www.paypalsucks.com/ !!!

oh yeah and also I was once on a committee to select a payment processing vendor for a large corporation and guess who did not get selected paypal ! so fu paypal sometimes if you step on a little guy it might turn out to be a big guy.

Paypal can be good for your purchases on Ebay and stuff, but for serious business I wouldn’t trust it. If everything is perfect (which seldom happens) the service is good, but if there is something they don’t like, they withhold your money and don’t give you much options/support.

I do not want to use paypal for investing into the brokerage firms because of the risk it may involve. Happy with moneybookers funding itself.

Actually Paypal is very secure and I don’t see any risk involve to Paypal but I don’t like their behaviour (Like a boss) in Forex market. Skrill is better to fund and withdraw money from Forex. (at least with my broker)

Before funding via PayPal just read out all the terms & condition of PayPal make sure that you comply with PayPal anti-laundering policy. But PayPal is a very secure payment processor and its very good choice to investing.

This thread is a good illustration of the reasons why one should never turn to an anonymous Internet forum for financial advice.

you can say that again Simon. Paypal has over 6 thousand better business bureau complaints, 2 thousand this past year one of which was mine. Anyone dumb enough to use them will get what they deserve I suppose.

You people should use a REAL BANK to fund your accounts. I used Wells Fargo but there are plenty of other real banks that follow real banking laws. Get yourselves a real bank account and Get a clue!

I use PayPal for online purchases. I use them so that my Credit card number is only with PayPal instead of with multiple vendors. (Sitting in their data bases, waiting to be hacked). I only had to give out my info once. I also use them to avoid outrageous exchange fees charged by Canadian banks. I bought something for about $1000 once and returned it since it was defective. The bank charged me almost 10% exchange to buy it and another 10% to return it. Lost almost $200 on a $1000 purchase. So far they are fine. I haven’t used them for any large amounts.
I wouldn’t use a broker that wont send money to my bank account. I only use the large reputable brokers. I learned my lesson the hard way. My money was stolen by Sparen FX and Eureka FX.

this is just a personal opinion, paypal is ok, if you wana go and shop online, but to use them for funding and withdrawing in forex can be some what of a problem, paypal tend to freeze accounts given enough complaints against any broker or company in general and that would lead to a series of domino effect that might lead to a brokers downfall! thats how a see it anyway :slight_smile:

I agree with you.
PayPal anti-laundering policy is too much secure for Forex traders. Last month they froze my $ 1,400 and so far I am corresponding with their support to unlock my money…
My opinion is that OKPAY and Skrill are much better to fund and withdraw money from Forex.

Tradersway just recently stopped accepting paypal. They added neteller but there is a limit u can send .

I feel forex brokers have a tough time using paypal. Perhaps, Paypal policy is too complicated and difficult to keep up with. Profiforex stopped accepting it sometime ago, but it is now available. I suggest we just stay away from paypal and use its alternatives. Maybe only then they’ll realize that we can do without them.

Paypal is not supported in most of forex brokers but a few brokers have Paypal as a payment options, anyone trading with a paypal-supported broker? how your payment there?