Best Forex Brokers Accepting WebMoney
WebMoney Forex Brokers Comparison Table
|Broker||Official Site||Regulations||Min Deposit||Max Leverage||Trading Platforms||Foundation Year||Publicly Traded||Trading Desk Type||Currencies||Commodities||Indices||Stocks||Crypto||offers promotions|
82% of retail CFD accounts lose money
FCA, CySEC, FSC
1:30 (FCA), 1:30 (CySEC), 1:3500 (FSC)
MT4, MT5, Proprietary
No dealing desk, ECN, Market Maker
79% of retail CFD investors lose money
FCA, ASIC, CySEC, MiFID
1:-2 (FCA), 1:30 (ASIC), 1:30 (CySEC), 1:30 (MiFID)
Market Maker, No dealing desk, STP
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.
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.