Below you find a list of the best binary options brokers that allow deposits and withdrawals by WebMoney:
Binary Brokers with WebMoney
About WebMoney
This article provides insights into the history, features, technicalities, and the pros and cons of using WebMoney as a payment method for binary options trading. For those interested in using WebMoney for binary options trading, we’ve highlighted the best brokers who support in 2023.
WebMoney Snapshot
WebMoney offers a platform for online cash transfers, making payments for goods and services, and even for holding cryptocurrencies. It’s amassed over 46 million users and sees daily engagement in the tens of thousands. Its popularity among online traders and investors has grown immensely, thanks to its user-friendly interface, diverse currency options, and broad accessibility.
Originating in Russia in 1998, WebMoney initially catered to the locals, allowing them to manage US dollars. Over time, it’s diversified its offerings across multiple currencies and cryptocurrencies. Signing up is straightforward, though a phone number and email are necessary. Post-registration, users get access to their “keeper” account – the primary account for managing online wallets. Binary traders can utilize WebMoney via a web browser or the enhanced security mobile app.
Wallets & Currency Equivalents
WebMoney terms its wallets as “purses”, each identifiable with a unique number. These purses essentially hold digital representations of real currencies. For instance, instead of a US dollar wallet, they offer a “WMZ” purse, where each unit equals one US dollar.
Supported currencies include US dollars, euros, rubles, gold (where one unit represents a gram of gold), and Bitcoin. However, the exchange rates may vary. For example, some services might offer a rate of 0.85 Perfect Money USD per WMZ.
Transactions
WebMoney prides itself on fast transactions. Although most transactions are near-instantaneous, bank transfers and Bitcoin transactions might take longer.
Cost Structure
Charges are competitive, with a 0.8% fee per transaction. Receiving payments is free, as are transfers between same ID accounts. A 1% deposit charge does apply, and other fees might be applicable depending on the bank or withdrawal conditions set by the binary options broker.
Safety Protocols
WebMoney incorporates multiple layers of security. From password protection, two-step authentication, data encryption to IP address blocking, they ensure a secured transaction environment. One notable feature for businesses is the irreversibility of transactions, reducing fraudulent claims.
Pros & Cons For Binary Options Traders
Pros:
- No need for a debit or credit card for funding.
- Swift transaction processes.
- Available in 94 countries.
- Supported by multiple binary options brokers.
- Supports key currencies including Bitcoin and gold.
Cons:
- The US is a restricted region.
- Relatively higher commission on exchange rates.
- The system of “equivalent” currencies may not be appealing to all.
Deposits & Withdrawals
The process is similar to most online payment methods. Once logged into the trading platform, navigate to the payments section, choose WebMoney, and follow the prompts.