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The UK branch of forex broker Admiral Markets said on Monday it has added PayPal to the payment methods offered for client deposits. The new service is active as of 1 February, 2016.
Admiral Markets UK clients can use PayPal to fund their trading accounts with Euro (EUR), British pounds (GBP), US dollars (USD), and Swiss francs (CHF).
“Admiral Markets is delighted to offer our customers access to PayPal – a world leader in secure online payment. This is another great example of us listening to customers and flexibly delivering what they have asked for,” said Admiral Markets CEO Dmitri Laush.
Users will be charged a handling fee for transactions of 0.9% of the transferred amount, but no less than 1 currency unit.
Admiral Markets has also made available deposits via Visa and MasterCard credit and debit cards, bank transfers, and Skrill, Neteller and Sofort online payment systems. Meanwhile, withdrawals are only possible via bank transfers, Skrill and Neteller.
US-based PayPal is a global electronic payment system. It offers money transfers in 26 currencies and 203 countries. It offers anonymity and security of transactions. Users are not required to provide bank details or credit card information. It is well-known and used by more than 7 million businesses worldwide, including by many forex brokers. Some of these are FxPro, Oanda, IC Markets, Alpari, eToro, and UFX Bank.
Admiral Markets UK is regulated by the Financial Conduct Authority (FCA). It offers forex and contracts for difference (CFDs) trading via the trading platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
In addition to the UK branch, the company also has an Estonia–based sister company, Admiral Markets AS, which is a white label provider regulated by the Estonian Financial Supervision Authority (EFSA).
The Admiral Markets group also consists of Australia-regulated Admiral Markets Pty and Cyprus-regulated Admiralex.
Source: Admiral Markets