Prop Firm Trading
The Prop Firm Trading has skyrocketed in the last few years. Where is it going?
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Why don’t Prop Firms use PayPal?
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Why don’t Prop Firms use PayPal?
I have been hunting around for Prop Firms that take PayPal as a payment for their challenges, however I cant find any that do, is there a reason for this, if anyone knows.
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1 Reply
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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.
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