PayPal Binary Options Brokers
Below is a list of recommend binary options brokers that allow deposits and withdrawals by PayPal:
Binary Brokers with PayPal
Founded in the late 1990s, PayPal initially comprises of two separate entities. Later these two companies merged together in year 2000 into a single entity and was brought over by eBay in 2002 for $1.5 billion. Today, PayPal is one of the leading online payment service providers with more than 250 million users in 190 markets. The only countries which are not supported by PayPal are countries such as Afghanistan, Bangladesh, Iraq, Montenegro, Pakistan, and those on the U.S economic sanction list.
The PayPal online payment system is well known to be very reliable and easy to use. Once the eWallet account is opened and verified, there is no special maintenance required on the part of users. Provided users have sufficient balances in their PayPal account, funds can be transferred almost instantaneously to other PayPal account holders or merchants who accepts PayPal as a mode of payment. PayPal account holders’ can also link their credit card to their PayPal account. This eliminates the need for PayPals’ users to have to post their credit card details online all the time. In addition, PayPal account holders can also linked their account to their banking account. With these linkages, PayPal users can easily top up their PayPal account balance easily with either funds from their banking account or credit card.
Although PayPal is owned by an American company and is licensed by the U.S regulatory authorities as a money transmitter under the Federal Reserve Board Regulation E, it strives to keep its global operations in line with local regulatory requirements. For example, operations within the Europe Union are handled by Luxembourg-based bank under PayPal in line with the EU‘s MiFID. Other international operations are handled by their Singapore based office.
Although simple to use, this does mean security at PayPal is lax. Their system is protected with one of the strongest encryption system around. Furthermore, any out of their ordinary suspicious activity from an account will immediately trigger an alert leading to the freezing of the account until the identity of the account holder is verified.
Despite the obvious benefits of PayPal online payment system, PayPal is not widely accepted by most binary brokers because of the high transaction fees (around 6.4%) that it imposes on each transaction.