Funding your account is not always as easy as it seems. When you pick a CFD broker it’s possible that it does not support your favourite deposit option. This is anooying especially when you already finished your signup process. To avoid this you should make a good comparison before you decide where to signup. Take a look at all deposit options and find out if the broker supports your favourite one. Below you can find a table of our recommended brokers and the most popular deposit options. Luckily for every owner of a credit card, all brokers support this deposit option. But if you want to make a deposit with Paypal or Skrill (Moneybookers) you should go with Plus500. This broker offers a wide range of deposit options and is our top recommendation because of this fact.
Click here to make your first deposit at Plus500 with any deposit option you want!
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Why is the proper deposit option important?
I’m not sure about you but I only have limited opportunities to move money online. I have two credit cards and ewallet accounts at Paypal und Skrill (Moneybookers). Paypal is connected to one of my credit cards and makes shopping very easy. I don’t have to type in my credit card information everywhere I buy something. It’s enough to use Paypal email address and password to make a payment. Skrill is another eWallet that is often offered as withdrawal option and you can also pay at Ebay sometimes. Of course, as European citizen you have a broader choice compared to US citizens and that makes it even more important to be careful. Even though you have a few options, you often don’t want to use a certain deposit option for your CFD trading. And this makes a lot of sense. Some traders use one eWallet as trading bankroll. They can deposit using this eWallet or make a payout to their bank account. Some traders don’t want to use their credit card very often and others don’t want to make a wire transfer that can take a few days. So it really is a legitimate question how to choose your deposit option. We hope this guide helps you making the right decision.
Can I make a CFD deposit using Paypal?
Paypal is by far the largest eWallet and there are lots of eWallets. So it really is a great success story. But is Paypal a good option for traders? Same say yes and some say no. Paypal has its roots in the ecommerce industry. That’s where they started and that’s where they make the most money. Shop owners can implement Paypal and customers can pay this way. They don’t need a credit card or make a wire transfer. Wouldn’t it be annoying to make a wire transfer for a book that costs $5? Paypal is an easier way to pay and that’s why it’s so popular. So why not for CFD brokers? Well, the question is if a CFD broker wants to offer Paypal or not. It’s not impossible to offer it as CFD broker but some brokers just don’t see a point in offering Paypal. The reason can be that Paypal is extremly expensive for brokers that have to process payments. They have to pay a % of the transaction and when you make a deposit with 10.000 USD this can be 400 USD in fees alone! Obviously credit cards also charge a fee like that but not that much. So for a broker that targets on novice traders like Plus500 will offer Paypal to maximize its reach. But a broker where traders deposit $ 5000 on average you better think twice if you want to cover fees that high.
What credit cards can be used?
Nowadays the standard credit cards are Visa and Mastercard. Both are great and it really doesn’t matter which one you use. Traders that are using American Express will have a hard time finding a broker that allows payments with this card. If you really want to make your CFD deposit through credit card you should go with Visa or Mastercard and if you don’t have one of these two you should think about alternatives.
