WebMoney Binary Options Brokers

WebMoney is a popular online payment method used to make transfers and receive money from customers and partners around the world, including binary options traders and online brokers. The Moscow-based payment service has held its ground as a competitor to PayPal, Perfect Money and Skrill, and it can be easily accessed through web browsers or an Android and iOS-supported mobile app.

As a result, the number of WebMoney binary options brokers is steadily increasing.

Binary Brokers with WebMoney

This guide will provide a lowdown of WebMoney’s history, features and technical details, as well as a review of the payment method’s pros and cons when funding binary options trading accounts.

In addition, we have listed the top binary options brokers that accept WebMoney deposits in 2023.

About WebMoney

WebMoney can be used to pay for goods and services with online merchants, make cash transfers, or buy and hold cryptocurrencies.

More than 46 million users have opened accounts with the transfer service and tens of thousands log in to make transactions each day.

It is particularly popular with online traders and investors – the WebMoney logo is a common sight on many binary options brokers’ websites and trading platforms. This is due to its ease of use, multi-currency support and widespread availability.

How WebMoney Works

WebMoney was founded in Russia in 1998 as a means for local residents to hold and transfer US dollars. In the decades since, the company has expanded to provide a wide range of services across various currencies and cryptocurrencies.

Registration with WebMoney is a quick and simple process, but new users will require a working phone number as well as an email address to sign up. Binary options traders can also provide additional verification documents to apply for a WebMoney Passport, a digital document designed to prove the legitimacy of holders and keep users safe.

Once sign-up is complete, users can log in to their “keeper” account, meaning the main account through which account holders create and access their online wallets in different currencies.

Binary traders can access the service either through a “keeper lite” account that works through ordinary web browsers, or “keeper pro APK”, a mobile app with added security.

Purses

WebMoney calls its online wallets “purses”, and each one has a number which is used when making transactions. Customers can also order a Mastercard to pay for goods with some of the supported currencies.

The firm’s purses operate in a system by which users purchase a digital “equivalent” to a real currency, which is then held in the purse and can be used in transactions, including to WebMoney binary options brokers.

For example, the brand does not have a dollar purse but a “WMZ” purse, in which each unit is equivalent to one US dollar.

Currencies

WebMoney supports several currency equivalents, the most popular being US dollars, euros and rubles, as well as gold (with one unit being equivalent to one gram of gold) and Bitcoin.

Each currency has its own methods for making deposits, which can be found on the official website. Generally, deposits can be made through “cash-in” ATM terminals, bank transfers, card transactions, or prepaid cards or vouchers.

It is important to note that, while WebMoney refers to its WMZ account as a US dollar equivalent and values each unit as equal to 1 USD, some other services will give you a different rate for your WMZ units.

For example, one online exchange service offered a rate of around 0.85 Perfect Money USD per WMZ unit at the time of writing.

Nevertheless, WebMoney is a popular and proven method for depositing cash with binary options brokers, and users from 94 countries regularly get their money’s worth when they use the service.

Alpari, Pocket Option, and Deriv are among the popular binary options brokers that accept WebMoney deposits, but there are many more. Keep an eye out for the WebMoney logo on your binary options platform’s website.

Transaction Times

Speedy transactions are one of the main advantages of online payment methods, and are usually high on binary options traders’ lists of priorities. WebMoney does not disappoint, with rapid deposits and withdrawals to and from its purses and near-instant transactions with partner merchants, including binary brokerages.

One exception to this is if you use a bank transfer to fund your WebMoney account, in which case the transaction will go through at the normal transfer speed of your bank. Also, Bitcoin purchases may take several hours to complete.

Pricing Review

WebMoney’s pricing structure is among the most competitive on the market for online payment methods, with a flat fee of 0.8% for each transaction.

Moreover, users will not be charged to receive payments to their account or for transfers between accounts with the same ID. However, a 1% charge on deposits does apply, as well as any fees applied by a bank if making a bank transfer.

Importantly though, the majority of binary options brokers that accept WebMoney deposits offer fee-free deposits using the payment service. Withdrawal costs, however, can vary.

Some WebMoney binary brokers offer free withdrawals above a certain value while others charge a flat fee or a percentage of the transaction amount.

Security

A number of security features protect WebMoney users and binary options traders, and the service is generally safe and reliable. Besides password-protection and other standard security features, users can opt to switch on two-step authentication via text messages when making transactions.

The security settings also include the option to block certain IP addresses from accessing the account.

Additionally, WebMoney uses data encryption as standard, and the more advanced Keeper Pro account includes a “key file” which is used to authenticate users’ accounts during the login process.

WebMoney is known as a business-friendly payment method, partly because its payment system protects companies from customers who fraudulently demand refunds for goods they claim they have not received.

While businesses must be on their guard for unscrupulous buyers on PayPal, which often sides with the buyer in disputes, transactions are final and firms are under no obligation to provide a refund.

As a result, individuals need to be careful when sending cash, since they will be unable to claim it back if the seller fails to honour their side of a deal.

It’s also worth checking the security protocols followed by prospective WebMoney binary options brokers. Is there a history of data breaches? Are personal information and payment details encrypted?

Pros & Cons Of WebMoney For Binary Options Traders

Pros

Benefits of WebMoney binary options brokers include:

• Allows traders to fund their account without a debit or credit card
• Free withdrawals (though some binary options brokers charge)
• Quick and easy system for making trading deposits
• Wide availability across 94 supported countries
• Accepted by many binary options brokers
• Supports various major currencies
• Users can buy Bitcoin and gold

Cons

Downsides of binary options brokers that accept WebMoney include:

• The United States is on the list of restricted countries
• High exchange rate commission compared to other e-wallet providers
• Fees on each transaction make WebMoney more expensive than standard card deposit options
• Purses hold currency “equivalents” which can be expensive to exchange for real currency
• Does not include a fee calculator for binary options traders to check exchange rates

How To Make WebMoney Deposits & Withdrawals

Binary options brokers that accept WebMoney deposits do so in the same way as most other online payment methods. Simply log in to your broker’s website or trading platform and click on the “cashier” or “deposits and withdrawals” tab.

Enter the amount you would like to deposit and select WebMoney as your payment method. When the binary options site prompts you to enter your details, input the e-number of the appropriate purse.

Withdrawals should work in a similar manner. If the deposit and withdrawal system works in a different way with your WebMoney binary broker, you can always check their FAQ section or contact their customer support team for help.

Verdict On WebMoney Binary Options Brokers

WebMoney is a quick, reliable and established service for making online payments, and tens of thousands of users log in to their accounts each day to make transfers using the service.

As a trustworthy online payment gateway, WebMoney also provides many benefits to traders who want to make deposits to binary options brokers while avoiding using their bank cards.

The downside of WebMoney is its fees, which while on the lower end are still often more expensive than making a standard card transaction. Additionally, some binary options traders may be put off by the purse system, which is loaded with a currency “equivalent” rather than holding the currency itself, and is sometimes subject to steep exchange rate spreads.

See our list of binary options brokers that accept WebMoney deposits to start trading.

Binary Brokers with WebMoney

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