Can You Do FOREX Through PayPal?

Discussion in 'PayPal' started by zac439, May 1, 2008.

  1. #1
    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?
     
    zac439, May 1, 2008 IP
  2. goforhunt

    goforhunt Banned

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    #2
    Interesting question!
     
    goforhunt, May 1, 2008 IP
  3. cool_fs4u

    cool_fs4u Peon

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    #3
    I think you can't.
     
    cool_fs4u, May 12, 2008 IP
  4. eddy2099

    eddy2099 Peon

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    #4
    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.
     
    eddy2099, May 12, 2008 IP
  5. mentos

    mentos Prominent Member

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    #5
    mentos, May 13, 2008 IP
  6. EnPassant

    EnPassant Active Member

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    #6
    EnPassant, May 13, 2008 IP
  7. max pain

    max pain Notable Member

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    #7
    max pain, May 13, 2008 IP
  8. zac439

    zac439 Notable Member

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    #8
    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..:rolleyes:
     
    zac439, May 13, 2008 IP
  9. ePhase Networks LLC

    ePhase Networks LLC Peon

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    #9
    I doubt it, especially with their high exchange rate fees.
     
    ePhase Networks LLC, May 13, 2008 IP
  10. esidyo

    esidyo Peon

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    #10
    You can do from e-Gold, Doing from PayPal is maybe against their TOS, correct me if I am wrong..
     
    esidyo, May 14, 2008 IP
  11. cicero

    cicero Peon

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    #11
    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.
     
    cicero, May 14, 2008 IP
  12. max pain

    max pain Notable Member

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    #12
    Ah, my bad, sincere apologies for causing you any inconvenience :eek:. We just meant to help out if you were "really" serious about forex. :rolleyes:
     
    max pain, May 14, 2008 IP
  13. tobycoke

    tobycoke Well-Known Member

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    #13
    Paypal has transaction fees and not very good exchange rate fees. I can't see making any money at it.
     
    tobycoke, May 14, 2008 IP
  14. mentos

    mentos Prominent Member

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    #14
    You can even invest in forex managed ac with PayPal
     
    mentos, May 15, 2008 IP
  15. EnPassant

    EnPassant Active Member

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    #15
    Unfortunately, I am EnPassant not the "poster before him". And the topic was not 100% clear on the question in first place.
     
    EnPassant, May 15, 2008 IP
  16. zac439

    zac439 Notable Member

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    #16
    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:

     
    zac439, May 15, 2008 IP
  17. World_Peace

    World_Peace Well-Known Member

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    #17
    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.
     
    World_Peace, May 16, 2008 IP
  18. highyieldbiz

    highyieldbiz Member

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    #18
    Interesting as I just thought that pp not allow forex but after reading the other reply it is my misunderstanding. Thanks for clarification
     
    highyieldbiz, May 16, 2008 IP