Below is a list of recommend binary options brokers that allow WebMoney deposits and withdrawals:
WebMoney transactions cannot be reversed which goes a long way in explaining why they are favored as a transaction method by binary options brokers. Let’s look at WebMoney deeper.
WebMoney or WebMoney Transfer (WMT) is global online payment services provider. Founded in 1998 in Belize, Central America, WebMoney is said to have over 22 million users. The payment system was initially set up to cater for clients in the former Soviet Republic and Russia following the breakup of the U.S.S.R in 1991. However over the years, its usage has expanded to cater for a global clientele.
Besides from being popular in Russia and countries in the Commonwealth of Independent States (CIS), WebMoney usage is also popular in the U.S and Vietnam. In addition to providing a means of transferring funds online, WebMoney also provided other online services like internet based trading platforms, merchant services, online billing systems and P2P payment solutions.
With WebMoney, it is possible to have multiple accounts in different types of currencies such as the Euro, U.S dollar or Ruble.’ Each of these accounts are known as “purse” and are denominated in WebMoney equivalents such as euro-equivalents (WME), US Dollar-equivalents (WMZ) and ruble-equivalents (WMR) basing on our example above. Money that are received or sent through a WebMoney account is known as “WM units. Although it is free to receive money, sending WM units to other accounts will incur a small transaction fee.
To deposit funds into a WebMoney account, this can be done through traditional methods of fund transfers such as bank wire transfer, money order, cash payment at authorized exchange offices or converted from other forms of e-money. Account holders if they wish can also purchase WebMoney cards (WM Cards) in amounts of $10 to $100 to top up their WebMoney account.
WebMoney maintain offices all around the world in countries such as France, Germany, Greece, Israel, Japan, Spain, the Netherlands, UAE and U.S. For transactions in rubles, they are underwritten by the Moscow office WMR LLC. Amstar Holdings Limited based in Panama underwrites transactions that are in Euros and U.S dollars.
As WebMoney transactions do not require any credit card or banks details, they are relatively secured online and is said to be impervious to certain scams. Unlike transactions made through PayPal or credit cards, WebMoney transactions cannot be reversed. This is perhaps one of the main overriding reasons why people choose to use WebMoney to receive payments. The same reason could also possibly be applicable as to why some binary brokers prefer WebMoney over PayPal.