Webmoney forex brokers

Registration in webmoney system includes a four-step process. As a new user, you will need to go to www.Wmtransfer.Com and click on the sign-up button.

Actual forex bonuses

Compare Brokers That Accept Webmoney, webmoney forex brokers.

Compare brokers that accept webmoney

For our webmoney comparison, we found 9 brokers that are suitable and accept traders from united states of america.

We found 9 broker accounts (out of 147) that are suitable for webmoney.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

The ultimate guide to

What is webmoney

Webmoney transfer is a global settlement firm that was started in 1998 and ever since has grown to be among the top global settlement systems with over 32 million customers worldwide. Webmoney provides reliable services that allow clients to keep track of their funds, resolve disputes, attract funding, as well as make secure transactions. It provides a safe haven for online business transactions and its technology is based on offering customer’s interfaces that allow operation and control of individual property rights for assets in the specialised entities. It is a perfect for online shops, internet-based platforms and online billing services.

How to get started with web money

Registration in webmoney system includes a four-step process.

As a new user, you will need to go to www.Wmtransfer.Com and click on the sign-up button.

You will then enter your mobile number, including an international code.

You will receive a verification code anytime you initiate a transaction for safety purposes.

You can also register via popular social networks. You will then be required to enter your personal details by filling out a form; ensure

You input correct personal data since you will need verification to fully access the account.

After that, you will need to confirm your email address and phone number after which you will set up a secure password. As a new user, there are limits to the total amount you can transact and you need to get a certificate to lift limits.

Advantages of webmoney

Webmoney has been a beneficial and a recommendable payment system for the following reasons:
instant transfers- both deposits and withdrawals are conducted in a fast and smooth manner that ensures that your money arrives in your account quickly.

Multiple currencies- webmoney supports multiple currencies, six to be exact, including euro, USD, belarusian ruble, rur, japanese yen among others.

Protection and privacy- webmoney state they will never give customer credit card information to any third party.

Using webmoney

Webmoney charges the user per every transaction they make. The fee is set at a rate of 8 percent of the money being transacted. However, the fee should not be less than 0.01 WM or higher than 50 WM either.

Purse types

Purse types are laid out depending on the currencies. The purses include:
WMZ-a purse of type Z holds funds in US dollars.
WMX type — funds in BTC
WMR-a purse R type holds funds in russian dollars
WMU- the U purse holds funds in ukranian hryvnias.
WME- the E purse holds funds in the euro
WMK type — funds in kazakh tenge
WMG type — funds equivalent to gold

Deposit methods

There are many deposit methods which users can use to top up cash into their account including:
online bank cards (visa and mastercard), internet banking, cash-in terminals, electronic money, prepaid vouchers and cards, bank branch, bank wire, money transfer systems and webmoney exchange offices.

Withdrawal methods

Users can withdraw money from their accounts using:
bank cards, cash, money transfer systems, bank wire and electronic money.

Processing time

Deposits to a webmoney account are mostly instant except for money transfer systems and bank wire which take 1 day. It takes typically 3 days for you to withdraw money from webmoney to a bank card, 2 days by money transfer, 3 days by bank wire and 1 day via cash into stock exchange. However, withdrawal to webmoney card, webmoney offices, electronic money and cash via a bank are instant.

How secure is it?

Webmoney is among the most secure payment systems. Users can secure their purses against unauthorised transactions and intrusions by:
setting a list of IP addresses to access the system
confirming any transaction via phone
enabling or disabling pay via sms option
authorising transactions with E-num

Webmoney forex brokers

A list of forex brokers that offer webmoney electronic payment system as the method to deposit/withdraw funds to/from trading account. Webmoney forex brokers allow their customers to use this secure, fast and low commission e-currency system to make customers' forex experience less burdened with secondary matters. You will find 66 brokers listed in the table below.

Metatrader 4

Metatrader 5

Mobile trading platform

Web trading

Metatrader 4

Metatrader 5

Web trading

Webtrader

Metatrader 4 web (VPS)

It would be difficult to persuade someone who has never heard about webmoney to start using it. Nonetheless, here are some of the reasons to open an account at a forex broker with webmoney support:

Semi-anonymous payment system.

You are based in russia or eastern europe.

You do not want your forex payment method to be connected with your credit/debit cards.

You want extremely low fees and instant transfers.

You wish to trade with an offshore FX broker (most of them prefer webmoney).

Forex trading bears intrinsic risks of loss. You must understand that forex trading, while potentially profitable, can make you lose your money. Never trade with the money that you cannot afford to lose! Trading with leverage can wipe your account even faster.

Cfds are leveraged products and as such loses may be more than the initial invested capital. Trading in cfds carry a high level of risk thus may not be appropriate for all investors.

Best forex brokers accepting webmoney 2021

Regulated by: cysec, FCA, FSC

Headquarters : 30 churchill place, london, E14 5EU, UK

82% of retail CFD accounts lose money

Etoro

Regulated by: ASIC, cysec, FCA, mifid

Headquarters : kanika international business center 7th floor, 4 profiti ilia street germasogeia, limassol, cyprus

75% of retail CFD investors lose money

Roboforex

Headquarters : 2118 guava street, belama phase 1, belize city, belize

Your capital is at risk

Webmoney forex brokers comparison table

82% of retail CFD accounts lose money

75% of retail CFD investors lose money

Market maker, no dealing desk, STP

75% of retail CFD investors lose money

Your capital is at risk

Ctrader, MT4, MT5, proprietary

Dealing desk, ECN, market maker, no dealing desk, STP

Your capital is at risk

Introduction: what is webmoney?

Webmoney is an electronic means of exchange as well as a digital wallet, which was originally developed in russia by WM transfer ltd in 1998. Webmoney provides a secure means of transacting on forex accounts, and is boosted by its multiple layers of authentication, which give this digital wallet added security.

The unit of currency of webmoney is WMZ. Users can exchange their WMZ units to cash using any of the webmoney exchangers located in several countries, or can convert their WMZ units to other digital currencies on exchange portals. Webmoney also issues a debit mastercard which can be used to cash out WMZ units in conventional currencies.

Why use webmoney as your deposit/withdrawal method?

One of the great benefits of using webmoney is that it provides an avenue for users to conduct same-day deposits and withdrawals from their forex accounts and in a very secure environment. Webmoney provides several methods of user authentication, some of which can be set by the user as their unique digital signature. This way, it is virtually impossible for unauthorized transactions to be conducted on a forex account using a user’s webmoney details.

As a russian-based e-payment system that serves the global community, it also provides a card-free method of transaction for users as well as can serve as a method of making payments on merchant accounts.

Benefits of choosing a broker that accepts webmoney

Here are benefits to choosing a broker that accepts webmoney:

Provides a secure way of depositing and withdrawing funds from a forex trading account with fast turnaround times.

Webmoney boasts of some of the most advanced methods of user authentication, providing added security for accounts.

It is a multi-currency platform which supports transactions in japanese yen, US dollars, euros, russian and belarussian rubles as well as vietnamese dong.

The webmoney network has recently been integrated with the bitcoin network.

Low transaction costs. Webmoney charges 0.8% minimum on deposit transactions, but withdrawals are free.

The webmoney wallet is also easy to fund.

How to pick A decent broker with webmoney

Not all forex brokers will offer webmoney as a transaction method. In order to fund out which broker offers webmoney, simply go to the banking page to see if webmoney is a listed transaction method. Alternatively, you can check the FAQ page of the preferred broker or contact the broker’s customer support.

Webmoney chargeback on broker account

The webmoney system does not require the use of a credit card or a bank account. All payments on the webmoney system are final and cannot be reversed. Therefore, it is impossible to secure chargebacks on a broker account for unauthorized transactions. This is why WM transfers ltd has invested heavily in the user authentication process at webmoney to ensure that the chances of unauthorized transactions occurring are very low indeed.

Conclusion

If you don’t have a bank account or a credit card, webmoney is an excellent means of funding your broker account. But not all brokers accept it. Here we have compiled a list of the very best webmoney forex brokers.

Webmoney brokers 2021 - which brokers accept webmoney?

Webmoney is a digital payment service which is accepted by several online forex brokers. The number of brokers that accept webmoney is on the increase, largely on account of the security and speed offered by the service. Other advantages for stockbroking platforms which accept webmonet include acceptance of all major currencies and an ability to handle large transactions.

Using brokers which accept this payment method can also benefit forex traders. This is because webmoney is relatively easy to use and only charges a small fee, even when traders are moving large amounts of funds.

In addition to this, the service encourages daily use of its products with a variety of promotions and bonuses.

Webmoney brokers

Right now, we’re going to take a more detailed look at the brokers and trading platforms that accept webmoney, as well as listing the pros and cons of using the service.

Overview

In recent years, webmoney has become a serious ewallet alternative to services like paypal. It now boasts over 30 million users worldwide and is accepted by over 100,000 different online vendors.

The service was founded in russia as an online money transfer system for US dollars, after the 1998 russian financial crash led to increased use of dollars in the country.

The platform is available on desktop computers and dedicated mobile apps. It has traditionally been used for a variety of purposes, including making purchases, funding online casino accounts, transferring money abroad or simply as an alternative to banking.

Nowadays, trading with webmoney is becoming more popular on accounts of its low fees, regular promotional offers and other benefits.

While it may not be considered as ubiquitous or useful for everyday transactions as a service like paypal, the sheer number of different brokers than accept webmoney makes it a serious contender when it comes to depositing and withdrawing while using online broker services.

Advantages

Trading with webmoney comes with plenty of advantages, including the following:

Free to open an account

Simple to use interface

Platform openly encourages forex trading

Major brokers regularly offer promotions for funding via the platform

Free to receive money

Rapid transactions (unless bank transfers are involved)

Multiple debit/credit cards can be linked to a single webmoney account

Transfers can be made at zero mark-up to accounts with the same ID

Data encryption as standard for increased security

Becoming increasingly adopted by online vendors worldwide

Low fees encourage regular transactions

Support for dozens of currencies including US dollar, GBP, euro and yen

Cryptocurrency support

Webmoney is also considered business-friendly and is largely focused on the B2B market. The website has sections relating to specific business types, with everything from merchants and retailers to traders and institutional banks catered for.

The fact that the infrastructure is set up for business transactions makes it a great choice for traders. This sort of transaction is “bread and butter” to a company like webmoney, and traders can expect a fast and secure service whether they are depositing or withdrawing funds into their purse.

Drawbacks

As a potential ewallet for forex traders, webmoney does have some drawbacks, including:

Higher currency conversion fees than other leading ewallet providers

Fees on every transaction

Verification required to increase maximum deposit/withdrawal amounts

Unclear information on specific deposit/withdrawal limits

Perhaps the biggest bone of contention among webmoney users is that once funds have been transacted, the transaction is final and cannot be reversed.

This tends to put buyers on edge because if they pay for something and don’t receive it, it means there is little recourse for retrieving funds.

Unless the depositing party has a contract with the receiving party, there is little that can be done in terms of legal action to help recover funds. This exposes international transactions in particular to an increased risk of fraud.

Speed of webmoney payments

Payment with webmoney is generally rapid. Funds deposited into a webmoney account via debit/credit card are generally available instantly.

However, funds deposited via bank transfer can take up to five working days before they are available. Cards and accounts used to make deposits/withdrawals with webmoney don’t have to be in the name of the account holder, although for security purposes the firm may ask for verification.

It’s also possible to make instant deposits into your account via the following currencies/platforms:

Bitcoin (BTC)

Litecoin (LTC)

Bitcoin gold (BTG)

Ripple (XRP)

Ether (ETH)

Monero (XMR)

Klarna

Neteller

Rapid transfer

Trustly

Fast bank transfer

Security

Webmoney takes lots of security measures to make sure each user is protected. All transaction information is secured with 128-bit encryption which is protected to the highest possible standards.

The mobile app also features two-factor authentication. This means that users are required to enter a code sent to their mobile device via text in addition to entering their email address and password.

In 2019, the firm also introduced a new video identification method, known as videoid. With videoid, users can verify themselves via a smartphone or webcam by displaying a national identity document. This verification method is swifter than visiting a notary or webmoney verification centre.

Deposits and withdrawals

Depositing and withdrawing funds from a webmoney account is incredibly simple. The firm operates a simple fee tariff of 0.8% of the payment amount for every transaction.

This means that regardless of whether you are depositing or withdrawing funds, you will have to pay 0.8% on top of the amount of funds you are moving.

However, webmoney does not charge a fee for transactions between accounts with the same webmoney ID, allowing you to freely transfer funds from one account to another (such as a business account used for trading, to a personal account used for making purchases).

It’s also worth noting that webmoney offers different account types, known as “purses”, based on the reason for use and the currency used by the account holder.

Certain accounts, such as a D-purse (used for issuing loans), come with lower transaction fees. If you regularly use webmoney, it may be worthwhile consulting the firm’s customer service team to see if you could switch your account to a more suitable purse to try and save money on transfer fees.

Webmoney fees or costs

Apart from transaction fees for deposits and withdrawals, there are no additional charges with webmoney.

You won’t be unexpectedly charged for inactivity, and there is no monthly or annual membership fee. However, you may find that daily use could mean that you rack up a reasonable amount in transaction fees without realising.

This is an issue which affects all traders, regardless of how much money they are moving from one account to another.

Money transfer

Webmoney offers a service known as webmoney transfer, which can be used for peer-to-peer payments. It is a trustworthy service which even includes its own escrow system. Webmoney transfer transactions incur the standard 0.8% fee, up to a maximum of €50.

Interestingly, there is also an online exchange within the webmoney transfer service. This exchange can be used to trade derivative securities, known as NOTES, which are backed by assets such as the shares of public companies. It is also possible to trade cryptocurrency such as bitcoin, ether, ripple, dash and monero via the webmoney transfer online exchange.

Inactivity fee

Unlike other ewallet providers, webmoney does not charge an inactivity fee. However, if your account goes unused for over a year, the webmoney team may consider suspending your account.

If you wish to reactivate your account, you may be required to go through the verification process once again.

Is webmoney A good choice for traders?

Webmoney is a common money transfer method for thousands of traders around the world. Whether it is the right choice for you will depend on the currency you are trading in, and how much money you intend to trade.

If you are trading large amounts, it may not be the best choice on account of its transaction fees. However, if you are trading little and often, it might be a strong contender as your forex digital wallet of choice.

There are no attainable VIP levels with webmoney, which may put large-scale traders off. The fact that a 0.8% transaction fee applies to all transactions may also be enough to send traders to other services.

However, russian and european traders may find that webmoney offers more convenience than other platforms, regardless of the fees involved.

Are there any webmoney bonuses?

Webmoney often hands out free money bonuses to new users.

This allows users to test out the service without having to deposit funds, which can be useful if you’re a trader looking for a new platform for deposits/withdrawals.

Is webmoney accepted in my country?

Webmoney currently operates in 93 different countries.

There are no geo-specific restrictions on the use of webmoney at present. While the currencies of certain less economically developed countries may not currently be available, this is not specific to webmoney.

The webmoney service is compatible with all major currencies and most cryptocurrencies.

How do I fund my webmoney account?

You can fund your webmoney account by cash, e-money, money transfer or payment terminal. To fund your webmoney account online, you will need to log in, click on the ‘cashier’ tab and select ‘deposit’.

You should now see the webmoney logo and will be prompted to select your deposit amount.

If you require a record of your transaction, you can download this information.

How does the webmoney system work?

Webmoney is based on a number of standardised interfaces used regularly in the financial services industry. The funds of participants are kept safe by companies known as guarantors.

Webmoney users are able to register their specific accounts, or “purses”, with any guarantor they choose.

Each guarantor is required to provide information which is verified by a certification service.

Is webmoney licensed to operate in europe?

Since november 2015, webmoney has held a united kingdom financial conduct authority (FCA) licence to issue electronic money within the european economic area.

It is now fully operational in europe, and traders can use the service to fund their forex trading accounts.

Is webmoney as secure as paypal?

All ewallet services encounter issues of fraud from time to time.

While recouping funds via webmoney might be more difficult than getting your money back after a rogue paypal transaction, it is safe to say that webmoney’s secure encryption is every bit as reliable as other digital wallet services.

Why don’t all brokers allow webmoney?

At the moment, webmoney users only represent a small portion of the target market of most brokers.

However, as the service continues to grow in popularity around the work, increasing numbers of brokers and trading platforms are adopting webmoney as a means of depositing and withdrawing funds.

In recent years, webmoney has expanded its operations around the world, and the brand is becoming increasingly recognised as a trustworthy digital payment service for all manner of goods and services.

Are webmoney’s fees considered high?

At just 0.8%, webmoney’s transaction fees can be considered as one of the lowest in the digital payments industry.

Having a fixed rate works to attract users who don’t want to be stung by hidden extras, and simply want to know upfront what charges they will accrue per transaction.

Why should I use webmoney to deposit with a broker?

Webmoney is incredibly convenient and also provides you with a layer of privacy. You won’t have to share your credit or debit card information with your forex broker. Instead, you can deposit directly from your webmoney purse.

Webmoney

Webmoney is an electronic currency system operated by WM transfer ltd. It was founded in 1998. There are several e-currencies circulating in this system, with the most popular being - WMZ (equals 1 USD), WME (equals 1 euro), and WMR (equals 1 russian ruble). In addition to currencies, webmoney supports units based on the physical gold (WMG, which equals to 1 gram of gold) and on bitcoin (WMX, which equals 0.001 BTC).

Webmoney utilizes several methods for their customers to access system accounts:

Webmoney keeper classic — the most secure and fully functional access with highly sophisticated software.

Webmoney keeper lite —a less secure but still protected method access — via internet browser.

Other methods are available but are rarely used.

Webmoney processes more than 300,000 transactions daily. As of june 2017, there are 34 million customers from all around the world. Though webmoney started as a russian payment system, it is now became an internationally popular e-currency system with a large number of global representatives and with an advanced deposit/withdrawal system. The standard transaction fee is paid by the sender and is 0.8% of the transfer amount but not less than 0.01 of an e-currency unit.

Webmoney is a highly secure online payment system, offering security through the special protected key-files — even if your password is hacked, your funds are still safe. While generic webmoney accounts are anonymous, money withdrawal transaction involve personal identification. This makes webmoney far more secure than paypal or any other online payment system.

Webmoney is a good alternative for those forex traders who search for fast, secure, and easy-to-use method to fund their accounts, leaving the troublesome worries with credit cards and bank wires behind. Many forex brokers support webmoney as the deposit/withdrawal option. Here is a short list of recommended forex brokers supporting webmoney:

To open account with webmoney, please go to https://www.Wmtransfer.Com/.

Cfds are leveraged products and as such loses may be more than the initial invested capital. Trading in cfds carry a high level of risk thus may not be appropriate for all investors.

Webmoney brokers 2021 - which brokers accept webmoney?

In addition to this, the service encourages daily use of its products with a variety of promotions and bonuses.

Webmoney brokers

Right now, we’re going to take a more detailed look at the brokers and trading platforms that accept webmoney, as well as listing the pros and cons of using the service.

Overview

In recent years, webmoney has become a serious ewallet alternative to services like paypal. It now boasts over 30 million users worldwide and is accepted by over 100,000 different online vendors.

The service was founded in russia as an online money transfer system for US dollars, after the 1998 russian financial crash led to increased use of dollars in the country.

Nowadays, trading with webmoney is becoming more popular on accounts of its low fees, regular promotional offers and other benefits.

Advantages

Trading with webmoney comes with plenty of advantages, including the following:

Free to open an account

Simple to use interface

Platform openly encourages forex trading

Major brokers regularly offer promotions for funding via the platform

Free to receive money

Rapid transactions (unless bank transfers are involved)

Multiple debit/credit cards can be linked to a single webmoney account

Transfers can be made at zero mark-up to accounts with the same ID

Data encryption as standard for increased security

Becoming increasingly adopted by online vendors worldwide

Low fees encourage regular transactions

Support for dozens of currencies including US dollar, GBP, euro and yen

Cryptocurrency support

Drawbacks

As a potential ewallet for forex traders, webmoney does have some drawbacks, including:

Higher currency conversion fees than other leading ewallet providers

Fees on every transaction

Verification required to increase maximum deposit/withdrawal amounts

Unclear information on specific deposit/withdrawal limits

Perhaps the biggest bone of contention among webmoney users is that once funds have been transacted, the transaction is final and cannot be reversed.

This tends to put buyers on edge because if they pay for something and don’t receive it, it means there is little recourse for retrieving funds.

Speed of webmoney payments

Payment with webmoney is generally rapid. Funds deposited into a webmoney account via debit/credit card are generally available instantly.

It’s also possible to make instant deposits into your account via the following currencies/platforms:

Bitcoin (BTC)

Litecoin (LTC)

Bitcoin gold (BTG)

Ripple (XRP)

Ether (ETH)

Monero (XMR)

Klarna

Neteller

Rapid transfer

Trustly

Fast bank transfer

Security

Webmoney takes lots of security measures to make sure each user is protected. All transaction information is secured with 128-bit encryption which is protected to the highest possible standards.

Deposits and withdrawals

Depositing and withdrawing funds from a webmoney account is incredibly simple. The firm operates a simple fee tariff of 0.8% of the payment amount for every transaction.

This means that regardless of whether you are depositing or withdrawing funds, you will have to pay 0.8% on top of the amount of funds you are moving.

It’s also worth noting that webmoney offers different account types, known as “purses”, based on the reason for use and the currency used by the account holder.

Webmoney fees or costs

Apart from transaction fees for deposits and withdrawals, there are no additional charges with webmoney.

This is an issue which affects all traders, regardless of how much money they are moving from one account to another.

Money transfer

Inactivity fee

Unlike other ewallet providers, webmoney does not charge an inactivity fee. However, if your account goes unused for over a year, the webmoney team may consider suspending your account.

If you wish to reactivate your account, you may be required to go through the verification process once again.

Is webmoney A good choice for traders?

However, russian and european traders may find that webmoney offers more convenience than other platforms, regardless of the fees involved.

Are there any webmoney bonuses?

Webmoney often hands out free money bonuses to new users.

This allows users to test out the service without having to deposit funds, which can be useful if you’re a trader looking for a new platform for deposits/withdrawals.

Is webmoney accepted in my country?

Webmoney currently operates in 93 different countries.

The webmoney service is compatible with all major currencies and most cryptocurrencies.

How do I fund my webmoney account?

You should now see the webmoney logo and will be prompted to select your deposit amount.

If you require a record of your transaction, you can download this information.

How does the webmoney system work?

Webmoney is based on a number of standardised interfaces used regularly in the financial services industry. The funds of participants are kept safe by companies known as guarantors.

Webmoney users are able to register their specific accounts, or “purses”, with any guarantor they choose.

Each guarantor is required to provide information which is verified by a certification service.

Is webmoney licensed to operate in europe?

Since november 2015, webmoney has held a united kingdom financial conduct authority (FCA) licence to issue electronic money within the european economic area.

It is now fully operational in europe, and traders can use the service to fund their forex trading accounts.

Is webmoney as secure as paypal?

All ewallet services encounter issues of fraud from time to time.

Why don’t all brokers allow webmoney?

At the moment, webmoney users only represent a small portion of the target market of most brokers.

However, as the service continues to grow in popularity around the work, increasing numbers of brokers and trading platforms are adopting webmoney as a means of depositing and withdrawing funds.

Are webmoney’s fees considered high?

At just 0.8%, webmoney’s transaction fees can be considered as one of the lowest in the digital payments industry.

Having a fixed rate works to attract users who don’t want to be stung by hidden extras, and simply want to know upfront what charges they will accrue per transaction.

Why should I use webmoney to deposit with a broker?

Forex trading with webmoney

Webmoney is a leading global settlement system that was initially oriented towards the needs of users from russia. The payment system has dramatically expanded its footprint as currently, it lists among the much-used banking solutions on a global scale.

The platform was founded in 1998, and ever since then, it has been successful. Figures come to show that as there are more than 10,000 registrations daily, while the number of the customers that are using the payment service exceeds 40 million.

Best forex brokers for united states

This is a digital wallet that has various purposes as it can be utilized when paying for various services or when purchasing goods. What is more, it stands out as a great alternative for forex traders who are on the lookout for secure means to transfer their funds to and from their brokerage account. It is likely to turn out to be a nice alternative to other popular digital wallets the likes of neteller, paypal, and skrill because of its reliability and promptness.

How to fund a forex account with webmoney

Although webmoney is a slightly less-known payment solution, especially when compared to the above-mentioned digital wallets, it is certainly gaining much traction as it is accepted by more and more forex trading platforms.

It is true to say that there is a surge in the popularity of the banking solution, meaning that finding a proper broker that accepts payments via webmoney is unlikely to turn into a feat. If you have already found a forex trading platform, but you have never used webmoney before, you should first head over to the official website of the company. Before being able to make use of the payment system, you will be required to establish an account. First off, you will need to pick your country of residence and provide your phone number.

The next thing traders need to do is to enter their date of birth, their email, address, and pick a security question. Then, you will be prompted to provide the confirmation code that was sent to you on the phone number you have provided. The last step is to come up with a password and create a purse by picking one of the supported currencies.

Since you will not have any funds in the balance of your wallet at this point, you will need to pick a way of funneling some funds to it. Users of the payment method can do so via bank transfer, their credit card, prepaid card, or to use electronic money, among others.

Topping up your forex trading account will now be easy as first, you need to enter the amount you would like to upload. Once you have picked webmoney, you will be redirected to the website of the payment provider where you will be asked to log into your account in order to authorize the transaction. You will also be asked to decide whether you prefer to receive your confirmation code via SMS or email. As soon as the funds are deducted from the balance of your webmoney wallet, they will be available on the forex trading platform within a few minutes.

How to withdraw from a forex account to webmoney

Thankfully, a large number of brokers facilitate banking through webmoney in both directions, which makes for greater convenience. So as to request a cashout, traders will need to navigate to the section that is reserved for payments, enter the amount they wish to be deducted from their balance, and pick webmoney as their preferred cashout method. Then, they will be asked to enter the ID of their webmoney wallet and click on request a payout. As soon as traders are notified that their request is approved, they will be able to use their money for whatever purposes they like.

Once traders have retrieved their profit back to their webmoney wallet, they will be presented with several means to lay their hands on their money. The options they have when they want to withdraw their money from the respective purse include bank transfer, electronic money, to get them in cash, or to transfer their funds to their card. Please keep in mind that the fees you need to pay if you decide to move your funds to the balance of your debit card or bank account will be the highest.

Benefits of using webmoney for forex trading

It is only natural that most people want to be satisfied with the efficiency and reliability of the payment method they are about to use, especially when it comes to forex trading.

One of the biggest positives of paying through webmoney is that your funds will always be in safe hands. The company has ensured that the service it offers is in line with all industry standards for online money transfers. What helps strengthen the safety of their transactions is that they will be sent unique codes via SMS or take advantage of single-use passwords, which should give you extra confidence that your funds will be heavily safeguarded.

Another great thing about this payment processor is that no matter whether you are making a deposit or you want to cash out your profit, you will not be asked to expose any of your banking details. Deposits will be wrapped up by logging into your webmoney account, while a cashout can be handled by providing the ID of your pursue.

Speaking of the positives of the banking solution, we should mention that webmoney users will have plenty of options to pick from when it comes to the payment methods they can employ to fund their webmoney purse. What many of you might also appreciate is that they can set up purses in a profusion of currencies and even in cryptocurrencies the likes of bitcoin and litecoin.

Forex traders will have the chance to handle all their banking with great ease as the payment method is available for deposits and cashouts. This means that traders are likely to have fewer concerns when carrying out their payments as they will not be required to remember extra login credentials or make use of payment processors they are uncomfortable with.

Establishing a webmoney account takes almost no time and is cost-free. Overall, transactions through webmoney will not cost the earth, which is not a benefit that should be underrated. Finally, it is a multi-purpose banking solution as you will not only be allowed to use it when speculating on forex, but also to pay for various services and purchase goods.

Disadvantages of using webmoney for forex trading

Despite the advantages we enumerated, webmoney has several downsides traders should not undervalue if they are yet to determine whether it will be the right means to handle their deposits and cashouts.

First and foremost, when you take a closer look at the fees you need to pay when using webmoney, it will hit you that certain charges are applied to almost all services. There are fees when funding your purse and when withdrawing funds from it. Although they might not turn out to be that substantial, they are worth paying heed to.

Another thing some webmoney users might not be comfortable with is that some of the information on the website of the company is in russian. This might pose as a major issue, especially if you are not fluent in that language.

Finally, webmoney might not be available at such a large number of forex trading platforms. If you insist on using that banking solution, you might end up with a slightly narrowed scope of options to pick and choose from. As it seems, there are also platforms where you cannot execute cashouts through the banking service. Although this might not be a widespread occurrence, it is worth ascertaining of that ahead of time.

Fees and limits when using webmoney to trade forex

One of the best ways to figure out if webmoney is capable of measuring up to the expectations of forex traders is to check out the limits and the fees the usage of the payment solution entails.

First off, users of webmoney will need to pay attention to the charges applied on behalf of the company. What forex traders should be mindful of is that a fee of 0.8% will be applied to every transaction they make. The ceiling on this type of fee might not be the same across the different currencies, which is why it will be best to examine the table where this information is posted. Thus, if we take as an example USD, your daily limit will be either $300 or $600, while the ceiling per month will be $1,000 or $3,000.

If you visit webmoney’s website, you will also be able to check out the timeframes within which your funds will be added to your purse and will be retrieved from it, depending on the payment method you have opted for.

Speaking of fees, we should note that the better part of the brokers refrain from imposing any extra charges on deposits that are carried out through webmoney. Although in most cases this refers also to cashouts, some brokers might add extra commission on withdrawals, which is why we recommend making sure of that prior to requesting a cashout so as not to end up unpleasantly surprised.

In terms of the least amount traders will be asked to upload before they start speculating on forex, we should say that it varies greatly between the brokers. Still, in most cases, traders will need to go for deposits of as little as $50, $100, or sometimes, even $200.

Webmoney chargeback on a forex trading account

In the event that traders have fallen through to find a decent broker and they have ended up fleeced, they should be in the know that there are several possible moves they can make.

One possibility traders have is to reach out the license issuer that should check out how matters stand. What might compound the situation is that some brokers are not licensed by a local regulator, which means that it might turn out to be a lot more difficult to deal with such an issue.

As long as you have realized that you are using the services of a rocket broker, you might also have the opportunity to request a chargeback. What you should keep in mind, however, is that whether or not this opportunity will be at hand depends exclusively on the payment method you have used, as well as whether you will be able to prove your rightness.

Unfortunately, traders who have picked webmoney as their preferred banking solution will not have the opportunity to request a chargeback. As it turns out, transactions that are executed through the payment gateway will be irreversible, which might turn out to be one of the reasons why some traders might rethink their decision to utilize that payment processor.

Security when trading forex with webmoney

It is only natural that traders tend to be apprehensive not only when it comes to the safety levels maintained by brokers but also when the safety of their payment method of choice is concerned. Thankfully, webmoney provides all means for safe transactions at all times.

First off, while establishing your webmoney account, you will be assigned a unique number you will need all the way down the line. The company utilizes several means to strengthen the safety of your transactions as traders can make use of security codes that are sent via SMS or make use of one-time passwords.

What guarantees the safety of your payments is that in practice, you will not be prompted to expose any of your debit card information or other such data. What is more, when performing payments through webmoney, your funds will be either in your wallet or in the wallet of the receiver. Thus, in practice, it will be impossible for your money to be lost.

Finally, all webmoney users will be allowed to decide which of their information will be exposed to the other participants in the transaction, which can also bring them some confidence that their safety is guaranteed.

Conclusion

Webmoney might turn out to be a viable payment solution for traders who are unwilling to utilize their credit/debit card or bank account when speculating on forex. One of the main reasons why webmoney might turn out to be a good alternative for traders is that most of the time, it is available when funding your account and when retrieving your profit. On the downside, it is not accepted by that many brokers, which might impede finding a proper forex trading platform that supports it.

Looking for a universal and secure method of payment? Why not consider webmoney?

What are you looking for in an online payment provider? Security, safety, reliability, universal acceptance and a good choice of forex brokers accepting such a method probably feature at the top of the list of qualities. You can get this and more by choosing webmoney. There are a number of online payment providers including skrill, neteller, and western union. But today we’ve decided to take a closer look at webmoney and see if we can provide enough information to help you make a decision about which one to choose. We’ll first provide a little bit of background information and explain how it works. And then we’ll try and help you find some webmoney forex brokers.

Some background information on webmoney

Webmoney came into existence in 1998 and is a global settlement system with more than 31 million customers. It was originally aimed at clients in russia and the former soviet union but is now recognized worldwide. It uses something called webmoney transfer technology that provides all users with interfaces that allow the operation and control of individual property rights for assets stored with specialized entities known as the guarantors. The special system allows for safe transactions in real time using webmoney units (WM-units). No bank account or credit card details are required to operate a webmoney account and more than 100,000 online shops and services accept this form of payment. The webmoney transfer system is owned by WM transfer ltd.

Webmoney also allows customers to apply for loans, exchange currencies and a range of other types of financial transactions. It also issues visa and mastercard debit cards and offers a webmoney e-wallet that can be charged with funds and used for making online payments to a forex broker or other service.

The benefits of using webmoney for forex payments
there are a number of reasons to choose webmoney and trade with webmoney forex brokers. These include:

Enjoy instant transfers – with a webmoney forex broker transfers are instant. Making a deposit or withdrawing from a trading account is quick and easy.

Privacy and convenience guaranteed – using webmoney means traders can enjoy an extra layer of privacy and convenience as there is no need to share credit or debit card information.

Low transfer fees – receiving money (WM-units) into a webmoney account is free. Sending money incurs a 0.8% fee.

There is inevitably a downside which includes the complexity of using the system, and the fact that a lot of personal information is required in order to set up an account. That being said, it is still a good way to cover making payments online, when other methods are accepted.

How does webmoney work?

The first step is, of course, to open up an account online. You will be asked for a few personal details including a mobile phone number that is used for verification. Then comes the choice of currency for the e-wallet that can be either euros, dollars, russian rubles or a selection of others. You will then be given a 12 digit number, not unlike a bank account number, that is your webmoney ID and allows users to log into the system and begin to make payments, as well as take advantage of a number of other features. The webmoney account has to then be funded which can be done in a variety of ways, including bank transfer, debit or credit cards, prepaid cards, and vouchers.

Are webmoney forex brokers a secure option for payments?

Because webmoney transactions do not use a credit card or bank account they can be considered very secure. However, we should point out that unlike paypal, transactions are final and cannot be retracted. The security offered is on a system level, because transactions are always either in the wallet of the sender or the wallet of the receiver, and not held somewhere in between in limbo. Therefore, it is virtually impossible to lose webmoney funds. There are three methods of authentication for a webmoney account. These are the login and password, files with secret keys, and personal digital certificates. There are also two additional methods which are an SMS verification code and an internal service that generates single-use passwords.

If you like the sound of webmoney but are still a little unsure about using the services of a webmoney forex broker let’s see if we can help with the answers to the most common questions about the service.

Webmoney FAQS

Q: are there any restrictions with a webmoney account?
A: A replenishment limit applies. The total amount in a webmoney purse must not exceed the equivalent of 15,000 russian rubles. There is also a daily spending limit or 15,000 russian rubles daily, 45,000 weekly, or 90,000 monthly.

Q: how can I keep track of my webmoney spending?
A: customers are able to manage their spending with the help of a money management system. A standard customer is able to use webmoney keeper standard. This will enable you to check the balance of your purse, add and transfer funds, issue and pay invoices, see any recent transactions and a range of other useful options. There are also other variations to suit different types and levels of webmoney customer.

Q: what is a webmoney passport?
A: A WM-passport is a digital identity document which is certified by a handwritten signature analogue of the account holder. It contains vital information such as full name, passport details, and relevant contact information. There are different types of passport issued, but all serve to provide additional opportunities to use webmoney services. As soon as a user logs into the system they are given an alias passport. A formal passport is issued as soon as the personal data section of the registration has been completed. Once this data has been verified the formal passport becomes verified. There are two other types of passport that can be issued after the payment of a fee. An initial passport and a personal passport.

Q: how is a webmoney account topped up or withdrawn from?
A: webmoney account holders are able to create a selection of different wallet types, depending on their needs. Each different wallet has its own selection of replenishment options but as a general idea, the following are available. Bank transfer, payment terminals, and atms, internet banking, money transfers, exchange points and by prepaid webmoney card.

Webmoney is kind enough to explain the complexities of the system via an extensive help section. You should be able to find the answers to most of your questions in there. All in all the website is very informative, but it will take some time to find all the relevant information you need.

Conclusion

So should you consider webmoney forex brokers as a sensible choice? It really depends on what else you might be looking for. As the range of forex brokers accepting webmoney payments is pretty vast. Opening an account, and managing it is a little more complicated than some of the other payment methods available. But once you’ve got your head around the intricacies, making payments should be seamless and secure. There are webmoney forex brokers located in many different countries and any traders conducting their business with one of them can be sure of the utmost security.

Webmoney forex brokers

Accessible payment methods are a big deal for customers and forex traders, just as much as a convenient platform or the relevant account type. Payment methods paly a huge role, and can either make the transfers a lot easier or more difficult. Wire transfers are, for example, the most complicated. Given the bank fees incurred on traders, and the waiting time for the money to arrive in the account is close to a nightmare in today’s day and age. Electronic payment systems are mostly preferred with forex transactions, for both, deposits, as well as for withdrawals. The payment systems are known as e-wallets and usually operate on a global level.

Webmoney E-wallet

Webmoney is one of the electronic payment systems popular with forex traders. The company was established in 1998 in belize, whereby webmoney transactions do not require a bank account or a credit card. Webmoney users get their so-called individual purse (account) to pay for services, goods, commodities, products, etc. The company’s initial target was to focus on russian clients, but gradually it has become available to almost all clients in the world. When you send money to a person, you are exposed to a small fee of 0.8%, but when you receive a payment, you are freed from any charge.

Benefits of webmoney

Fast money transfers, or instant transfers to be more exact, are one of the advantages of webmoney. Deposits and withdrawals are transferred smoothly, and money arrives quickly to your account. They support six currencies including the euro, USD, belarusian ruble, rur, etc. Users also enjoy greater protection and privacy whereby they do not have to give credit card information to their broker. If you use webmoney as your forex e-wallet, it is not going to be connected to your credit card, but acting as an independent method. Fees are kept at a minimum with webmoney. Moreover, some brokers cover these fees for their clients. As webmoney was designed for the russian market, it is still one of the most convenient payment methods in eastern europe and russia. Off- shore brokers are also very fond of web money and use it very often for their payments.

Webmoney and forex

Webmoney forex brokers are glad to offer this payment method, especially if they have clients in russia or eastern europe and even wider. Forex brokers have to make themselves available to any target group, whether they come from china, india, or australia, etc. Forex brokers understand their global role and the nature of the market and try to enable access to anyone who would like to participate and invest some money. This includes acceptance of the native currency (if possible), enabling the desired payment method, and more often customer support in the native language. Forex brokers have made all these clever moves to increase their trader community and expand as a globally renowned brokerage company. Some of the broker companies are indeed known worldwide and have clients all over the world, trying to win over even more clients. Let us check out some of the webmoney forex brokers who made a good name and who possess other top qualities besides payment methods.

So, let's see, what we have: webmoney is a popular funding method for online traders as it offers fast transactions, high security and convenience. Yet, not all brokers accept it as a payment method. Compare the top 10 online brokers that accept webmoney or deposits and withdrawals in 2021. At webmoney forex brokers