PayPal and Forex Brokers.....

[Killer-B]

Does anyone know why more and more brokers are losing their ability to accept PayPal payments?

Lite Forex just bit the dust (to receive PayPal) - get an error message now when trying to send...

Same for Metal Forex, MasterForex and several others.... or - if that's not an option anymore, I then try AlertPay - and says "we can't process VISA"... please use AMEX (ya right!)

Seems most are in Russia - WTF is going on?

Anyone know of a micro-broker that takes PayPal still?

Cheers-

KB

[Killer-B]

(polite bump)

Anyone know of a micro Forex broker that takes credit cards or PayPal?

Every single one I see on various "lists" (via Google) has their PayPal account suspended... and no "news" as to why? Has anyone ever used/deposited (USA) with Insta-Forex? They have a lousy rating on various sites... and their DEPOSIT scheme looks very weird via Ukraine...?

TIA

KB

[forex4youcom]

Forex4you (http://www.forex4you.com) provides micro accounts and accepts credit cards!

As for PayPal thing, probably, companies that turned off PayPal billing had no license/regulation and therefore PayPal has closed their accounts. PayPal has special requirements for Forex brokers and many companies don't even ask PayPal about them, so it takes time for PayPal to realize...

[Killer-B]

Originally Posted by forex4youcom

Forex4you (http://www.forex4you.com) provides micro accounts and accepts credit cards!

As for PayPal thing, probably, companies that turned off PayPal billing had no license/regulation and therefore PayPal has closed their accounts. PayPal has special requirements for Forex brokers and many companies don't even ask PayPal about them, so it takes time for PayPal to realize...

Thanks for that info and link.. I did write BroCo and Forex-Metal and both came back citing that PAYPAL would charge back on them 6 months after a transaction, and insisted it was PP that was the devil... though, as stated, it's a PayPal error you get when you try to place any of their email addresses in for payment - So I dunno who to believe?

That said, I've never heard of your brokerage (has anyone here?) - So, how do you accept CC's?? via MoneyBookers (who for some reason won't take MY debit card - but can use it every where else on the planet..) In looking at your site, it just says you accept them-

What is your minimum deposit please?

You say you offer micro/nano (e.g. .001) trading?

And lastly, what margins can we trade on lets say a $500 acount?

TIA-

KB

[forex4youcom]

Originally Posted by Killer-B

Thanks for that info and link.. I did write BroCo and Forex-Metal and both came back citing that PAYPAL would charge back on them 6 months after a transaction, and insisted it was PP that was the devil... though, as stated, it's a PayPal error you get when you try to place any of their email addresses in for payment - So I dunno who to believe?

That said, I've never heard of your brokerage (has anyone here?) - So, how do you accept CC's?? via MoneyBookers (who for some reason won't take MY debit card - but can use it every where else on the planet..) In looking at your site, it just says you accept them-

What is your minimum deposit please?

You say you offer micro/nano (e.g. .001) trading?

And lastly, what margins can we trade on lets say a $500 acount?

They are lying - PayPal cannot charge 6 months after the transaction. And it's correct that PayPal displays a error - since their accounts are locked (PayPal locks accounts of unauthorized Forex brokers) nobody can send funds to them, and upon an attempt - an error message is displayed. I'm in contact with PayPal compliance team myself - that's how I know.

As for our own website, we process credit cards through PsBill billing (check www.psbill.com), we don't have minimum deposits set and yep - we offer trading even with 0.0001 lots (cent accounts).

Margin depends on account type, not on account balance! You can click "Conditions" on the website and see margins for all 4 types of account.

Good luck!

[Killer-B]

Thanks for that... I may give it a try... if it's all you say it is....

BTW, I *HAVE* been able to deposit in the past via PayPal to both ForexMetal and InstaForex... So at ONE TIME, it did work... As to chargebacks, I really don't know.... and is now a moot point really as no one is doing PP... Just wish these "affiliate sites" would update their info as they are obviously not checking out their "recommended brokers" but just loooking for their referral fee... Sigh...

Anyway - ANYONE ELSE here have experience - or wanna Guinea Pig this one with me?? PC? :-)

[Killer-B]

Okie Dokie... I'll be the Guinea Pig... Live cash account... running FAP with 20/135 cross (edit) ONE pair = EUR/USD...

Also loaded Forex Funnel... as another site shows that better than the rest (FAPS/TFAPS/Steinitz) in 60 day live forward testing... so despite it being a martingale, thought I'd give it a go.

[Killer-B]

Follow up-

Want to thank "Forex4You" for this tip.... Despite the cheesy name, they have a nice website and are located in Cyprus best I can tell... and with decent spreads.

NO PASSPORT OR ID needed to set up (which is amazing to me) - and did process my CC without ANY fees! If they "trade fair"... They may have a new long-term customer...

Cannot vouch for withdrawels or support (yet) - but - may have found a winner here... The screens are very fast... I suspect they have light member usage... so, maybe that's why? Either way, 1 week into it, am pretty happy...

www.forex4you.com - (think that's it?) Check 'em out...

KB