Page Summary
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: $100
Fees: 4.8
Assets available: 4.8
Total Fees:
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
eToro is an investment company based in Israel. Their trading platform is suitable for beginners. It has an intuitive interface, simple order types, and social copy trading features. It also offers premade portfolios called eToro SmartPortfolios. Furthermore, eToro offers a vast range of educational materials, including the eToro Academy video series, tutorials, and podcasts.
eToro provides access to 3,400 financial instruments, including 49 forex pairs.
eToro supports a variety of trading tools for beginners, including watchlists, 13 drawing tools, and 66 technical indicators.
The minimum deposit required at eToro is $100. eToro has a variety of deposit and withdrawal options including PayPal, bank wire transfer, and e-wallets (Neteller and Skrill).
eToro’s customer service is available via email, phone, and live chat in English and Arabic.
eToro Key Features for Forex Traders:
- Wide Range of Available Assets – access to over 3,400 different financial instruments, including 49 forex pairs, stocks, ETFs, commodities, indices, and cryptocurrencies.
- Intuitive Trading Interface – the trading platform is beginner-friendly and easy to understand.
- Proprietary Copy Trading Features – allow to copy trades of professional traders SmartPortfolio Investment Opportunities – pre-made thematic portfolios such as biotech, marijuana, and sustainable energy.
- Broad Selection of Educational Material – access to webinars, tutorial videos, and guides.
- Vast Market Research and Analysis Tools – access to valuable insights through eToro’s news and analysis section, the eToro Academy, and eToro Plus. Additionally, users have access to Trading Central research tools.
Pros
- Access to over 4000+ tradable symbols
- Great overall market coverage
- Easy to use mobile trading app and platforms
- Industry leading social/copy trading app
- Great cryptocurrency trading features
- Responsive customer support
Cons
- Algorithmic trading not available
- Forex and CFD fees above industry average
- Education and research tools missing
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
2. AVAtrade – Best PayPal Forex Broker for CFDs
Min Deposit: $100
Fees: 4.9
Assets available: 4.9
Total Fees: 0.9 pip
Avatrade is an online brokerage based in Ireland. They allow trading with 1,200+ CFDs, including 55 forex pairs and 44 forex options. The minimum deposit required to open a live account with Avatrade is $100 (360AED). Deposits and withdrawals are available through PayPal, credit card, bank wire transfer, and e-wallets (Neteller and Skrill)
AvaTrade trading platform is available as a web version (WebTrader), mobile app (AvaTradeGO) and desktop app (Mac platform). Users can implement a variety of third party integrations including MetaTrader 4, MetaTrader 5, DupliTrade, and Capitalise.ai.
Users are also allowed to deploy Expert Advisors, Robo-Advisors, and other forms of automated trading software through AvaTrade’s API. This is great for algorithmic and high-frequency forex traders.
Avatrade charges low spreads of 0.6pips (EUR/USD). The maximum leverage available at Avatrade is 400:1.
AvaTrade’s customer support is available via email, phone, and live chat in English and Arabic.
AvaTrade Key Features for Forex Traders:
- Broad Range of Forex Pairs – access to 55 forex pairs and 44 forex options
- Vast range of third party integrations – MetaTrader 4 and MetaTrader 5, Tradingview, DupliTrade, and Capitalise.ai
- Accessibility – Users have access through a web app (WebTrader), desktop app (Mac platform) and mobile app (AvatradeGO)
- Islamic Account Availability – Islamic swap-free account option
- Extensive Educational Materials – tutorial videos, guides, and podcasts
- Market Research and in-depth Analysis Tools – access to a wide range of market research and analysis tools including technical indicators, economic calendars, and extensive daily blog posts
Pros
- Great Research and Educational tools
- Great Customer support
- Good choice of social trading options
Cons
- Comparing others relatively few trading instruments are offered; offers Forex, CFDs and Binary Options
71% of retail CFD accounts lose money
3. Forex.com – Best PayPal MetaTrader Broker
Min Deposit: $100
Fees: 3.7
Assets available: 4.1
Total Fees:
Forex.com is an online brokerage firm based in Cyprus. They offer access to 5,500 financial instruments, including 80 forex pairs. Forex.com accepts a wide variety of payment methods, including debit/credit cards (Visa, MasterCard), bank wire transfers, and e-wallets (PayPal, Skrill and Neteller).
Trading platforms available at Forex.com are listed below:
- Web Trader (proprietary web trading platform)
- MetaTrader 5
- Mobile app
Trading tools available on the Forex.com platform include Trading Central, Market 360, SMART Signals, TradingView charts, integrated news and analysis powered by Reuters and an economic calendar.
The MetaTrader 5 platform supports Expert Advisors, dynamic charting features (including 24 analytical objects) Gann and Fibonacci tools, and one-click trading.
The minimum deposit required at Forex.com is $100 (360 AED).
Forex.com’s customer service is available via email, phone, and live chat in English and Arabic.
Forex.com Key Features for Forex Traders:
- Broad Selection of Financial Instruments – access to over 5,500 different financial instruments, including 80+ forex pairs, stocks, commodities, indices, precious metals, and cryptocurrencies.
- Easy-to-use Trading Interface -trading platforms are beginner-friendly and easy to use for both beginner and experienced traders.
- MetaTrader 5 Compatibility – compatibility with MetaTrader 5 including 20+ expert advisors, custom indicators, 38 technical indicators, 44 analytical objects, and 21 chart timeframes.
- Extensive Selection of Educational Material – access to courses, video lessons, platform tutorials, and a comprehensive trading glossary.
- Broad Range of Market Research and Analysis Tools – Access performance analytics powered by Chasing Returns, Smart trading signals, high-quality journalism and in-depth analysis by Market 360, news sentiment by Trading Central, and a live streaming news feed powered by Reuters News.
Pros
- Great market coverage
- Advanced Trading and Web Trading platforms
- Advanced charting features and performance analytics
- Award Winning Mobile trading app
- Professional customer support
- Competitive fee and commission structure
Cons
- Educational videos are missing
- MT5 available outside of US only
- Limited assets available on MT5
80% of retail CFD accounts lose money
4. IG Trading – Best Forex Trading Platform
Min Deposit: $5500
Fees: 3.7
Assets available: 4.5
Total Fees:
IG is an online trading provider, regulated by the FCA. They provide access to over 17,000 financial instruments, including over 80 forex pairs. IG requires a minimum deposit of $300 to open a live account. Users can fund their accounts by bank wire transfer, credit/debitcards, and PayPal.
Trading platforms available at IG are listed below:
- Web Trader (proprietary trading platform)
- MetaTrader 4
- ProRealTime
- L2 Dealer
IG’s platforms are fully customizable. Users can set-up watch lists, one-click trading opportunities, and automated trading via Expert Advisors. The L2 Dealer platform has a variety of trading tools such as advanced and anonymous order types.
Fast trade execution at IG as provided through liquidity pools of major banks and liquidity providers.
IG charges low spreads of 0,6 pips (EUR/USD). The maximum leverage on forex pairs is 30:1 for retail traders and 222:1 for professional traders.
IG’s customer service is available via email, phone, and live chat in English, Arabic, and over 15 other languages.
IG Key Features for Forex Traders:
- Vast Range of Forex Pairs – access to over 80 major, minor, and exotic forex pairs.
- Multiple trading Platforms – MetaTrader 4, L2 Dealer, ProRealTime, IG’s proprietary desktop and mobile trading platforms.
- Algorithmic Trading and Expert Advisors – availability of Expert Advisors, Robo-Advisors, and other forms of automated trading software through IG’s APIs.
- Direct Market Access – through IG’s Forex Direct.
- Free Demo Account – pre-loaded with $100k in virtual funds.
- Extensive Educational Materials – access to tutorial videos, guides, and podcasts
- Market Research and in-depth Analysis Tools – access to a wide range of market research and analysis tools, including technical indicators, economic calendars, and extensive daily analytical reports.
Pros
- Access to over 17,000 markets
- Cutting-edge mobile and desktop trading platforms
- Excellent customer support and broad range of educational material
Cons
- High fees on CFDs
- Few banking options
75% of retail CFD accounts lose money
5. XTB – PayPal Forex Broker With the Best Research Tools and Materials
Min Deposit: $0
Fees: 3.7
Assets available: 2.9
Total Fees:
XTB is a Polish investment company, founded in 2002. It provides access to over 5,600 financial instruments, including 48 forex pairs, CFDs, cryptocurrencies, indices, commodities, stocks, and ETFs. The maximum leverage is 30:1 for retail traders.
XTB’s deposit and withdrawal options are listed below.
- credit/debit cards
- bank wire transfers
- e-wallets (PayPal, Neteller, and Skrill)
XTB does not charge any funding fees. Deposits are credited to traders accounts instantly. XTB does not require a minimum deposit to open a live account.
XTB’s trading platform has a variety of trading tools including cost and profit calculators, dynamic charting features, live performance statistics and the ability to change stop-losses and take-profits directly on the charts.
XTB charges low spreads of 0,1 pips (EUR/USD).
XTB’s customer service is available via email, phone, and live chat in English and Arabic.
XTB Key Features for Forex Traders:
- Wide Range of Financial Instruments – access to over 5,600 financial instruments, including 48 forex pairs, stocks, CFDs, commodities, indices, ETFs, and cryptocurrencies.
- Beginner-friendly Trading Interface – intuitive user interfaces
- Extensive Market Analysis – in the form of blog posts, market sentiment, and a detailed economic calendar.
- Vast Library of Educational Material – includes articles, e-books, guides, and a full-fledged trading glossary.
- Low Spreads and Micro-lot Trading – spreads on forex start at 0,1 pips (EUR/USD), and micro-lot trading is available.
Pros
- Low trading fees
- Multilingual support (Available in Arabic)
- Cashback rebates and free paper trading account
Cons
- Only CFD trading
- Charges inactivity fees
81% of CFD retail account lose money
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.
| Broker | eToro | AvaTrade | Forex.com | IG | XTB |
| Nr. of Forex Pairs | 49 | 65 | 80 | 80+ | 48 |
| Spread on EUR/USD | 0,9 pips | 0,9 pips | 0,8 pips | 0,6 pips | 0,1 pips |
| Leverage | 1:30 | 1:400 | 1:100 | 1:222 | 1:500 |
| Trading Platforms | eToro WebTrader & app | Ava Social, DupliTrade, mql5.com | WebTrader, app, MetaTrader 4 | ProRealTime, L2 Dealer, App, MetaTrader 4 | xStation 5, xStation Mobile |
| Regulators | 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 | FCA |
| Educational Resources | 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 | Articles, eBooks |
| Customer Support | Email, Live chat | Email, Phone, Live Chat | Email, Phone, Live Chat | Email, Phone, Live Chat | Email, live chat |
| Deposit Methods | 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 |
| Withdrawal Methods | 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 | Yes | Yes | Yes | No | Yes |
| ECN Account Commission | None | None | None | None | None |
| Scalping | No | Yes | Yes | Yes | Yes |
| EA Trading | No | Yes | Yes | Yes | No |
| VPS | No | Yes | Yes | Yes | No |
| Min. Deposit | $100 | $100 | $100 | $300 | $1 |
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.
- Forex.com
- eToro
- IG
- AvaTrade
Which Forex Brokers Accept Paypal Deposits in UAE?
Forex brokers that accept Paypal deposits are listed below.
- Forex.com
- IG
- AvaTrade
- Capital.com
Which CFD on Forex Instrument Brokers Accept Paypal Deposits in UAE?
- Plus500
Conclusion
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.
| RANK | BROKER | GENERAL | PLATFORM SCORE | BEST FOR | WEBSITE |
|---|---|---|---|---|---|
| #1 | eToro | Great overall market coverage | 4,9/5 | Beginners | Official website * |
| #2 | AVAtrade | Great Customer support | 4,9/5 | CFDs | Official website |
| #3 | Forex.com | Award Winning Mobile trading app | 4,4/5 | MetaTrader | Official website |
| #4 | IG Trading | Excellent customer support | 4,2/5 | Forex Trading Platform | Official website |
| #5 | XTB | Low trading fees | 3,4/5 | Research Tools and Materials | Official website |
*51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
FAQ
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.
Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
Stefan Grasic is the owner of Business24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active stock, CFD, crypto and general investment researcher, advising blockchain companies such as Blockbird, GoCrypto, Hive Terminal at their start up level.