Hello everybody
My question is about deposit methods in Forex, why most of the brokerage doesn’t have PayPal, but some other has got? Does it mean that PayPal doesn’t trust these companies?
Pardon my french but Paypal is a pain in the *ss to work with. The second option is usually Moneybookers (now Skrill) and they are much easier and cheaper. Actually many brokers offer free instant withdrawals and deposit with Skrill (exness,xm,hotforex, etc etc)
I think that paypal is not compatible with forex however skrill is quite good alternative to deposit and withdraw from forex or casinos. I have been using skrill for quite sometime now and have applied for Hotforex prepaid card, which seems to be a good alternative for skrill.
[I]Almost[/I] that (and perhaps not unwisely, really, in many cases, because most are counterparty market-makers and therefore technically betting rather than actually currency-dealing).
More specifically, it means that PayPal generally doesn’t want the onerous task of assessing which few are trustworthy and which many are not, so it’s easier for them to have a blanket policy (albeit with occasional, fairly clear-cut exceptions) than to judge each single case on an individual basis.
From [B][U]most traders’[/U][/B] perspectives, however, it makes little sense to use PayPal or any other unnecessary intermediary to transfer money to/from brokers.
You can’t trade forex without having a bank account, and the cheapest, easiest and quickest way for most people is just to transfer directly in and out of your bank account. You’re going to have to pay the bank’s fees (if any) to get at the money anyway, so why increase your dealing/transfer costs unnecessarily? 