Paypal is a commonly used method among UAE forex traders to deposit and withdraw money from their trading accounts. Users like the high level of security, the variety of available currencies, and the platform’s wide accessibility. The numerous local and offshore brokers in the UAE, with Paypal integration, make it tough for traders to select the best forex broker for their needs.
To guide users through the selection process, we have researched, compared, and evaluated the different providers and their services in UAE to create a list of top choices. To address preferences of different traders, our analysis considers fees, trading platforms & features, number of forex pairs, availability of PayPal as a deposit and withdrawal method, research & education, and customer support.
This guide assesses 35 online brokers in UAE to help users compare and choose the top options for their needs. It starts with a list of the best Paypal forex brokers in UAE, followed by in-depth reviews, comparison and FAQs.
Top 5 PayPal Forex Brokers in UAE
- eToro – Best PayPal Forex Broker for Beginners
- AVAtrade – Top PayPal Forex Broker for CFDs
- Forex.com – Ideal MetaTrader Broker
- IG Trading – PayPal Broker With Top Trading Platform
- XTB – Top PayPal Broker For Research and Education
Best PayPal Forex Brokers in UAE Reviewed
The 5 highest-rated PayPal forex brokers in UAE are reviewed below, including pros, cons, and key features.
1. eToro – Best PayPal Forex Broker for Beginners
Min Deposit: $50
Assets available: 4.8
Leveraged and speculative product. Not suitable for all investors. You should consider whether you can afford to take the high risk of losing your money. Capital is at risk.
2. AVAtrade – Best PayPal Forex Broker for CFDs
Min Deposit: $100
Assets available: 4.9
Total Fees: 0.9 pip
71% of retail CFD accounts lose money
3. Forex.com – Best PayPal MetaTrader Broker
Min Deposit: $100
Assets available: 4.1
80% of retail CFD accounts lose money
4. IG Trading – Best Forex Trading Platform
Min Deposit: $5500
Assets available: 4.5
75% of retail CFD accounts lose money
5. XTB – PayPal Forex Broker With the Best Research Tools and Materials
How To Choose The Ideal Forex Brokers Accepting Paypal Deposits and Withdrawals
Criteria to consider for selecting the optimal Paypal forex broker in UAE are listed below.
- Paypal Deposits and Withdrawals – brokers that allow Paypal deposit and withdrawal options should be preferred
- Number Of Forex Currency Pairs – Brokers with access to a wide range of forex currency pairs should be preferred. They allow deverzification, flexibility and increase chances for profit.
- Spreads and Commissions – Brokers with low overall spreads and commissions should be preferred
- Forex Trading Platforms and Third Party Integrations – Brokers with a wide range of platforms and integrations should be preferred. Some of the most popular forex platforms are: MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView.
- Reputation – Choosing a reputable broker helps avoiding scam services. Brokers with a high number of users, positive user feedback and tier-one licences should be preferred.
- Responsive Customer Support – brokers with a responsive and professional customer support should be preferred.
- Experience level. Brokers offer trading features and tools for different experience levels (beginners, intermediate and advanced). Traders knowledge level needs to betaken into account.
Top Paypal Forex Brokers in UAE Compared
Key features of the top ranked Paypal forex brokers in UAE are compared in the table below.
|Nr. of Forex Pairs
|Spread on EUR/USD
|eToro WebTrader & app
|Ava Social, DupliTrade, mql5.com
|WebTrader, app, MetaTrader 4
|ProRealTime, L2 Dealer, App, MetaTrader 4
|xStation 5, xStation Mobile
|ASIC, CySEC, FCA
|ASIC, FSA, FSCA, CBI, FFAJ, ADGM
|FCA, FSA, CFTC, NFA, IIROC, ASIC
|FCA, BaFin, CySec, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, RFED, FINRA, NFA
|Academy, Plus, Digest & Invest
|FAQ Section, Videos, Education blog
|Courses, Quizzes, Lessons, Platform Tutorials, Glossary
|Interactive training, webinars and seminars, trading lab analysis, glossary, one-on-one trainings
|Email, Live chat
|Email, Phone, Live Chat
|Email, Phone, Live Chat
|Email, Phone, Live Chat
|Email, live chat
|eToro Money, Credit Card, Debit Card, PayPal, Neteller, Skrill, Rapid Transfer, iDEAL, Klarna, Bank Wire Transfer, POLI, Przelewy24
|Credit Card, Debit Card, Skrill, Neteller, WebMoney, Bank Wire Transfer
|Credit Card, Debit Card, Skrill, Neteller, Bank Wire Transfer
|Credit Card, Debit Card, Paypal, Bank Wire Transfer
|Credit Card, Debit Card, PayPal, Skrill, Neteller, Bank Wire Transfer
|eToro Money, PayPal, Neteller, Skrill, Rapid Transfer, Bank Wire Transfer, POLI, Przelewy24
|Skrill, Neteller, WebMoney, Bank Wire Transfer
|Skrill, Neteller, Bank Wire Transfer
|PayPal, Bank Wire Transfer
|Bank Wire Transfer, PayPal, Skrill, Neteller
|Swap Free Account
|ECN Account Commission
What is PayPal
PayPal is a digital payment provider, founded in 1998. It allows users to send and receive payments and conduct online transactions. PayPal users can connect their bank account or to their PayPal account to be able to pay for online goods and services.
PayPal has processed billions of transactions and is active in over 200 countries.
Are There Any Paypal Restrictions for UAE Users?
Paypal restrictions for UAE users are listed below:
- UAE residents cannot use PayPal to transfer funds to other PayPal account holders or purchase goods and services from merchants based in blacklisted countries
- UAE residents may be subject to transaction and withdrawal limits and be charged currency conversion fees when paying in currencies other than AED
Paypal Fees Vs UAE Bank Fees For Forex Trading
Forex trading fees between PayPal and UAE bank accounts vary. PayPal charges a currency conversion fee every time you receive funds in a currency that is different from the one set up in your PayPal account. This conversion fee is 3,5% above the real exchange rate.
UAE banks also charge currency conversion fees whenever you make payments in currencies other than AED. The fee charged by banks varies and depends on the amount of money sent.
Additionally, PayPal charges its users for receiving payments from forex brokers and for withdrawing funds from their PayPal accounts to their bank accounts. UAE banks may charge forex trading and wire transfer fees but usually, charge less than PayPal.
Pros and Cons Of Using Paypal For Forex Trading
The Pros and cons of using Paypal for forex trading are listed below.
Pros of using PayPal:
- International Usage – PayPal is accessible in over 200 countries and regions as a way to deposit and withdraw money from forex brokerage accounts
- Broad Range of Supported Currencies – PayPal supports over 25 currencies, including but not limited to AED, USD, EUR, CAD, JPY, and GBP.
- Fast Payment Processing – PayPal transactions are processed instantly.
- Easy to Use – PayPal accounts are set-up fast and are easy to use.
Cons of using PayPal:
- Account Set-Up – Forex traders will have to open a PayPal account first in order to deposit and withdraw funds to and from their forex trading platforms and brokers.
- Withdrawals May Not be Processed Instantly – Sometimes, it can take multiple business days for PayPal withdrawals to arrive in your bank account. Additionally, you may be charged a fee for doing so.
What Are The Best Paypal Alternatives in UAE
Some of the most popular PayPal alternatives in the UAE include:
- Skrill: is a popular e-wallet that allows users to send and receive funds online. Skrill is widely accepted by forex brokers and trading platforms, and it supports multiple currencies, including cryptocurrencies. A wide variety of payment methods can be used to top up Skrill accounts, including bank transfers, credit card deposits, and PaysafeCard vouchers.
- Neteller: Neteller supports a wide variety of currencies, and it allows users to send and receive funds almost instantly. Most online forex brokers and trading platforms accept Neteller as a payment method.
- Payoneer: Payoneer is a globally operating payment platform that allows users to send and receive money. The platform supports multiple currencies and provides users with tools to manage both payments and invoices.
- TransferWise: TransferWise is a peer-to-peer service that allows users to send and receive funds to each other instantly. It supports a wide variety of currencies, including USD, EUR, and AED, and it offers low, competitive currency conversion fees.
Which Forex Brokers accept Paypal Deposits and Withdrawals in UAE
Forex brokers that accept Paypal deposits and withdrawals are listed below.
Which Forex Brokers Accept Paypal Deposits in UAE?
Forex brokers that accept Paypal deposits are listed below.
The variety of online brokers and their trading services makes it stressful to compare and evaluate their offers to find the ideal option. To make the ideal choice for their needs, traders must collect relevant data and research them based on certain criteria.
This guide does the hard work for you by comparing and evaluating the top choices for different types of traders and their preferences. The results of our assessment of the best Paypal forex brokers in UAE are wrapped up in the table below.
|Great overall market coverage
|Great Customer support
|Award Winning Mobile trading app
|Excellent customer support
|Forex Trading Platform
|Low trading fees
|Research Tools and Materials
Can you trade forex directly with Paypal in UAE?
Yes, Paypal allows client to exchange major currencies pairs. However, Paypal charges high fees compared to online forex broker and should be avoided for trading forex.
Is Paypal a cheap banking option for forex trading?
No, Paypal has the highest operational fees among deposit and withdrawal options including credit/debit cards, bank wire transfers and other e-wallet options.
Does Paypal allows deposits and withdrawals in UAE?
Yes, Paypal users are allowed to deposit and withdraw money to their bank account using Paypal.
Why to use Paypal as the primary payment method for your forex broker account?
Reasons to use Paypal for depositing and withdrawing money at your forex broker include simplicity, safety & security, instant money transfers and multi-currency support (over 25 currencies).
Does Paypal support direct AED deposits?
No, the UAE Dirham is not one of the Paypal supported currencies. This means that users can’t make direct AED transfers or payments.
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