I was wondering if we could do forex through paypal. I know that you can switch currencies with current exchange rates, but I wasn't sure if PayPal discredited any profits you'd make from the transaction. Anyone play the forex market via paypal?
Well, each time you switch currency other than the US Dollars, you will lose 2.5% in exchange fees. You need to add that to your computation to determine if it is worth while.
I'm one of them... Try this http://www.google.com/aclk?sa=l&ai=...yqkQYMDkg&q=http://www.avafx.com/?tag=GOOG-PP
Oanda, the strongest forex broker in the world, and a broker I've been trading with for 2 years accepts PayPal payments. https://fxtrade.oanda.com/your_account/fxtrade/deposit_funds.shtml
Did you or the poster before you even bother to read the thread? We are talking about doing forex IN PayPal, not sending money via PayPal..
Dear Zack, It is not advisable to do FOREX (in your terms) with paypal as the data ( currency rates) change every minute but paypal updates them only on their end of the day. It would be VERY risky if you directly try to trade FOREX through them. However, you could use it for a little profit if you are sure about what you are doing. If you are new to this whole FOREX stuff, I suggest you WATCHOUT and play it safe. I have lost about $50 playing with forex. Its too unpredictable, eve the experts can't tell anything clearly about what will happen tomorrow.
Ah, my bad, sincere apologies for causing you any inconvenience . We just meant to help out if you were "really" serious about forex.
Paypal has transaction fees and not very good exchange rate fees. I can't see making any money at it.
Unfortunately, I am EnPassant not the "poster before him". And the topic was not 100% clear on the question in first place.
Technically, you are both EnPassant and the "poster before him" so I don't know what you're trying to prove there. But as for not being clear, please read the following, noting bolded words and phrases I have outlined for you:
You cannot do Forex trading thorough PayPal but you can get some Forex Broker which accepts PayPal as payment method and use it to trade in Forex. Oanda is one of the Forex Broker which use Paypal as payment option.
Interesting as I just thought that pp not allow forex but after reading the other reply it is my misunderstanding. Thanks for clarification