Stocks With Paypal

eqd053 · #1 (**permalink**) 10-19-07, 10:48 AM

I make a lot of my money on paypal and would like to avoid the step of transfering my money to a bank account before investing with it. Is there any way to invest in stocks with my paypal funds directly? Is there an etrade like company that takes transfers from paypal?

Airelon · #2 (**permalink**) 10-19-07, 11:04 AM

Not that I am aware of mate. I trade / invest as well, and also have a paypal account that I use. You're right, it would be nice, but not allowed, I believe it's due to SEC / Homeland Security Regulations. Which I can understand. Paypal is international, and thus, could be used as a funneling channel by terrorists. I know - our account was hacked. Mastercard and Paypal called us, to let us know that they noticed payments were going to London, Toledo (A 'charity' that got busted for being a front), Liberia, Morocco, Chad, etc - all to various Islamic "charities". Needless to say, we were a bit torqued.

Sucks that something that could be so convenient for so many of us, is screwed up by the morons of the world.

eqd053 · #3 (**permalink**) 10-19-07, 05:22 PM

What you are saying makes sense but i still do not understand why they are able to have a money market fund available through paypal. It seems like the same issues would be a problem for both stocks and the money market fund that is already available. Is there anything stopping a company like etrade from accepting electronic transfers from paypal. I am a little new to investing and i guess i dont understand the issue.

Airelon · #4 (**permalink**) 10-19-07, 11:18 PM

Quote:

Originally Posted by eqd053

What you are saying makes sense but i still do not understand why they are able to have a money market fund available through paypal. It seems like the same issues would be a problem for both stocks and the money market fund that is already available. Is there anything stopping a company like etrade from accepting electronic transfers from paypal. I am a little new to investing and i guess i dont understand the issue.

Homeland Security and SEC regulations prohibit it. Paypal can't be tracked as easily as a bank can. No electronic stock broker (or any broker) will accept payments from paypal, including e-trade.