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 payment service is an alternative to electronic wallets like PayPal, Perfect Money and Skrill, and it can be accessed through web browsers or an Android and iOS-supported mobile app.

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 trading accounts.

We have also listed the top binary options brokers that accept WebMoney deposits. We checked every platform below supports WebMoney by finding the payment method in the client area or speaking to customer support.

Binary Brokers with WebMoney

List of Binary Options Brokers that Accept WebMoney

	Broker		Min Deposit	Expiry Times
	BinaryCent		$250	5 seconds - 30 days	» Visit
	Pocket Option		$5	3 seconds - 1 month
	Deriv		$5	15 seconds - 365 days
	ExpertOption		$10	5 seconds - 24 hours

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About WebMoney

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

Millions of users have opened accounts with the transfer service and 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 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 traders can also provide additional verification documents to apply for a WebMoney Passport, a digital document designed to prove the legitimacy of holders and help 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 platforms.

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.

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

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, deposit fees vary by funding method/provider, 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 help protect WebMoney users and binary options traders, and the service is generally fairly secure 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 often final. That said, card-funded deposits may have card-network dispute rights depending on the merchant and jurisdiction.

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

Regulation

WebMoney operates through different wallet types and local counterparties, so the entity handling your funds, and the regulator, if any, can vary by country and by wallet. This means you always need to check the exact WebMoney entity/guarantor shown in your account for your region and currency before relying on any licensing claim.

Also, while licenses may apply to WebMoney-related entities and/or its guarantor structure, it does not automatically mean the binary options broker you deposit to is regulated in your country.

Here are key regulatory and registry references for WebMoney:

• Russia (payments and AML framework) – WebMoney’s own R-wallet notices reference changes made to meet regulator requirements under Federal Law No. 161-FZ (“On the National Payment System”) and require full identification under Federal Law No. 115-FZ (AML/CTF). The same notice explains that RUB e-money for P-wallets (WMP) was issued by a bank and that legacy RUB withdrawals were routed via a clearing house process. WebMoney R-wallet announcement
• Gibraltar (e-money permissions) – Webmoney Limited appears on the Gibraltar Financial Services Commission (GFSC) register with permissions relating to issuing and distributing/redeeming electronic money. GFSC register: Webmoney Limited
• Uzbekistan (licensed payment institution / e-money framework) – WebMoney’s Uzbekistan guarantor announcements reference a payment institution licence issued by the Central Bank of Uzbekistan, and the CBU maintains registers for payment system operators and payment organisations.. WebMoney news: Uzbekistan licence; CBU registers
• Belarus (local underwriter for WMB) – WebMoney’s WMB legal agreement identifies JSC “Technobank” (Minsk) as the underwriter for WMB-related e-money arrangements under Belarus law. WMB Underwriter Agreement (Technobank)
• Kazakhstan (local operator/register-based licensing references) – WebMoney’s own news has referenced a Kazakhstan guarantor being licensed/registered as an electronic money operator/payment institution on the National Bank of Kazakhstan register; availability and operators can change over time. WebMoney news: Kazakhstan guarantor
• Different “purses” can mean different legal counterparties – WebMoney publishes separate legal agreements for different purse types (e.g., WMZ/WME/WMB/WMS/WMX). This is why the relevant entity and regulatory footing can vary by region and by wallet type. WebMoney: Agreements with guarantors

Pros Of Using WebMoney For Binary Trading

• Allows traders to fund their account without a debit card or credit card
• Quick and easy system for making trading deposits
• Wide availability across dozens of supported countries
• Accepted by several top binary options brokers
• Supports various major currencies
• Users can buy Bitcoin and gold

Cons Of Using WebMoney For Binary Trading

• 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
• Isn’t a single universally-licensed “bank”; it uses a guarantor/title units model and has had region-specific disruptions historically

How To Make WebMoney Deposits & Withdrawals To Binary Accounts

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.

Bottom Line

WebMoney is a quick, reliable and established service for making online payments, and many 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.

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