WebMoney Forex brokers

The Best WebMoney Forex Brokers 2019 – Making Deposits & Withdrawals Quick & Easy

PaxForex
Key Features
Low minimum deposit
Founded in 2010
Spreads from 0.3 pips
Min Deposit
$100
United States
Key Features
Low minimum deposit
Founded in 2010
Spreads from 0.3 pips
Payment Methods
Credit Card, Debit Card, Wire Transfer, Bitcoin, Ethereum, Neteller, Perfect Money, QIWI, Skrill, UPayCard, WebMoney
You are unlikely to find a more comfortable broker than PaxForex. Our company provides customers the best possible conditions for successful Forex\Cryptocurrencies, Spot metal\Stocks trading. We have offers for both beginners and experienced traders. The main engines of our progress at the financial trading t are spotless reputation; focus on customers and innovative approach to business development. Our achievements have been confirmed by the successes of every one of our traders. Today we are a well-known lowest spread broker trusted by hundreds of thousands of customers worldwide. We assure you that working with PaxForex ensures the highest level of service, strict compliance with all the terms of trading, and reliability provided by the most advanced technologies.

What is WebMoney

webmoney forex brokers

WebMoney is an online payment settlement solution that was founded in 1998. It was born in Russia to combat the Russian financial crisis in 1998 and led to increased US dollar use in Russia.

WebMoney transactions do no require a credit card or bank account, users will get a WebMoney ‘purse’ (or wallet as they’re better known now) to pay for services and products.

WebMoney offers services that help you manage your funds, make transactions and even attract funding which differentiates it from other competitors like PayPal and Skrill.

Why use my WebMoney account to deposit with a Forex broker

Deposit & Withdrawals

WebMoney offers several more options to deposit into their account than the likes of PayPal and Skrill. They only let you use a bank transfer or a credit card whereas WebMoney does let you use other electronic payment systems, and payment terminal and cash deposits.

You can withdraw from your account the same way, however each method has slightly different withdrawal times. A bank wire can take up to 5 days whilst a money transfer could be up to 7 days.

instant money transfer – convenient for traders as well as Forex brokers: when you make a deposit, it’s credited to your Forex trading account very fast, and when you withdraw you’ll get the money fast as well.

Convenience

An extra layer of convenience & privacy is added because you don’t share credit/debit card information with your Forex broker.

Low Fees

Low money transfer fees is a big plus for WebMoney and in addition, there are Forex brokers who will refund your expenses with WebMoney when you make a deposit.

Multi-purpose

WebMoney is not just an online wallet or payment system, they offer a range of products for their users. Various purses help users manage their funds, whilst also allowing instant payments to take place. As well as the above mentioned they also provide a service that helps users raise funds, you can take out a loan, and they help with budget and work management.

Business Friendly

WebMoney is very much focused on the B2B marketplace. Their website has sections dedicated to specific business types, from merchants and retailers to institutional banks.

The infrastructure required to cater for these businesses and still offer a great service to the customers who will use WebMoney for a personal reason only.

This infrastructure is the reason that depositing into a Forex broker account is easy, this kind of activity is this company’s bread and butter.

Why not to use WebMoney when depositing into you Forex account

Minimal protection

Once a unit of WM is transacted, it is final and cannot be reversed. This already should put buyers on edge because should you pay for something and you don’t receive it there is little to help you retrieving your funds.

The recourse for seeking legal action is limited unless you have a contract with the other side of the transaction. This exposes international transactions to increased risk.

How to pick a broker that accepts WebMoney

WebMoney is nowhere near the size of PayPal or Skrill for that matter and so when you think about the percentage of users who would sign up to a broker that will only want to use WebMoney, you can imagine that is a very small percentage.

With that in mind, it is no wonder that lots of brokers do not offer WebMoney because to put crudely, ‘they have bigger fish to fry’, there focus will be on the providers that the majority of their market use.

WebMoney Vs PayPal Forex Account Funding

The big reason to choose Webmoney over PayPal is the deposit fee is significantly lower – 0.8%, compared to Paypal – 0.5%-5% (dependant on destination and currency). Other reasons to use WebMoney over PayPal include:

  • WMZ tend to accumulate on users’ accounts, and so traders try paying with WMZ whenever possible. If a broker accepts both Webmoney and Paypal, 90% of traders (who have WMZ) will choose Webmoney deposit method.
  • Paypal doesn’t work with all countries, and works partially (only sending, but not receiving money) with many other.

Conclusion

If you have a WebMoney account and are happy with the service provided then we have picked out the best brokers for you. Those who are deciding what service they want to use to deposit into a Forex broker account, we feel that WebMoney isn’t for you, either use a traditional method like a bank transfer or a credit card.


FAQ

Is WebMoney more secure than PayPal?

There have been issues of fraud on the platform and feedback suggests that they take a hands off approach when trying to recoup the funds, so caution is advised when using WebMoney, especially if you’re a buyer.

What are WebMoney’s fees?

They are one of the lowest in the marketplace, with the low end being around 0.7%, and it doesn’t tend to go much higher than that, which again is why they do have a loyal user base.

How secure is my WebMoney account?

As highlighted above, there have been issues of fraud, which doesn’t mean that the platform isn’t secure but more the fact that it is easier to dupe the users on their and that the protocols of the platform make it difficult to get your money back.

If you do not receive what you have paid for then it is very difficult to request a refund through the platform like PayPal does.

Why don’t all Forex brokers offer WebMoney?

Simply because the users only represent a small portion of the target market the brokers target. There are two types of brokers that might offer WebMoney, those that are well established and are covering every inch of the market or those that are a bit desperate for customers and are trying everything.

For Forex brokers that fall under the former, see our list of WebMoney Forex brokers above.

What is a WebMoney Forex broker?

WebMoney is a platform to send money from one person to another, a Forex broker is a brokerage that allows you to trade the Forex market, the two simply means that it is a brokerage that lets you use WebMoney to fund your Forex account.

How can I deposit into my WebMoney account?

You can deposit into your WebMoney account by cash, bank account, E-money, payment terminal and money transfer. You can also withdraw using all these methods as well.


Additional Payment Methods Forex brokers

Paypal Forex Brokers

Skrill Forex Brokers

Neteller Forex Brokers

Perfect Money Forex Brokers

Western Union Forex Brokers

MoneyGram Forex Brokers

 

Do you know another WebMoney Forex broker? Please suggest by adding a comment below.

Broker discussion area