StockPair, one of the world’s best binary option brokers, offers a number of options to deposit and withdraw money. Unfortunately, PayPal is not one of them.
Why does StockPair not use PayPal?
There are, however, very good reasons for StockPair taking the decision to exclude PayPal from it payment options:
StockPair is keeping your money as secure as possible. Limiting payment options to credit card and wire transfer helps with that, because both payment types are personalized. Therefore, StockPair can make sure that your money is only transferred to you.
Size of payments
When you deposit money with PayPal, you can make any payment that PayPal will allow with your limits. If your bank account is not covered, PayPal will allow the payment but will later be unable to withdraw the money from your account. This leads to all kinds of legal problems, because you opened a trading account with money that does not belong to you and that PayPal wants back.
To avoid this problem, StockPair excludes PayPal from the start, which is, all things considered, a very reasonable decision. By sheer logic, most other broker have to arrive at the same decisions.
Therefore, you should be careful when a broker accepts PayPal. Often, these broker do not care about the legal consequences, because they do not intend to repay you your money anyway. Stay with StockPair and use credit card or wire transfer. Both are good payment options and they will lead you to a safe, reliable broker.