Reply To: Why don’t Prop Firms use PayPal?

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    Community Trading Group Trader
    January 9, 2024 at 4:32 pm

    So it appears that most Prop Firms have dropped PayPal as a payment processor as they are experiencing PayPal Chargeback scams. This is when traders are failing the challenges and then claiming a chargeback from PayPal to get their money back. When the Prop Firm challenges PayPal, PayPal are taking the side of the trader/consumer. This malpractice is not only being carried out by traders with Prop Firms but also many other businesses. A quick search on Google uncovers this practice.

    This is actually from the PayPal website, they dont seem particularly interested in supporting the businesses.