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PayPal fees are very fair and suit a trader. There are no fees charged monthly for processing of payment. The payment fees for PayPal vary according to your location and the payment method used. If making a purchase, you are charged no fee at all.
If selling, you are charged 2. When you make payment either using the credit card or your PayPal account, processing time is instant. The funds are instantly deducted from your account. Payments via eChecks take business days. Withdrawing funds to your bank account take about 2 to 3 business days. As a trader, knowing the chargeback policies of a payment service is very important.
Basically, chargeback is available through the Purchase Protection policy and is applicable on purchase of products but not services. As of June , PayPal updated their user agreement policies. The updates mainly affected the Section 11 Protection for sellers and section 13 Protection for buyers. These recent policy updates exclude a number of activities from Purchase Protection. These include but not limited to activities that require entry fees and prizes, such as gambling and gaming.
Since stock trading is a service and requires entry payments, it is excluded from the activities that are eligible for a reimbursement. That means that chargebacks policies are not applicable to forex trading. However, you can file your dispute and try to resolve the case if you want. There are so many benefits of using PayPal for forex trading, but just to list a few: With just a few clicks, you can make your deposits.
View all countries from here. With the endless number of benefits for forex traders, PayPal is certainly the easiest convenience that any trader can ever need.
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