Webmoney is an online payment system that is used extensively in binary options trading. It was launched in 1998 and is supposed to have over 31 million users worldwide.
It was first launched exclusively for clients in Russia and other countries in the Soviet Union. However, it has since evolved into a globally accepted method of secure payment, especially in binary trading.
It differs from traditional methods of online payment in that it doesn’t need a credit card or even a bank account connected to it in order to operate. Instead, the platform works using its own currency known as WMunits. These can be used as virtual currency which can be converted into real money when making a withdrawal.
It is known for supporting accounts in the US as well as hundreds of other countries around the world. A lot of binary options brokers use this payment method.
Best Binary Options Brokers That Accept Webmoney
24Option – this broker has been operating since early 2010. It is based in the country of Cyprus, famous for its many well-regulated binary options brokers. The broker makes use of the excellent Tech Financials trading platform, and offers payments in a variety of different currencies. It doesn’t have support for traders from the US or Australia. 24Option has a low minimum deposit and a great maximum investment limit. The broker makes use of the WebMoney payment system along with a couple of others such as Mastercard, Visa, Skrill and other online payment methods as well as direct bank transfers.
IQoption – A broker that has been in operation since it launched in 2012. It has its base in the Seychelles, and is known among traders for its extremely low minimum deposit amount. The broker has no support for traders in Japan, the US, Canada and some Middle Eastern countries. It is regulated strictly by the famous CySEC agency. It uses its own custom made trading platform, and is known for excellent returns, a friendly interface as well as a nice array of interactive learning features and tools. The broker supports payments made through WebMoney along with a couple of other platforms like credit cards, Skrill, Mastercard, Bank transfer, and CashU.
Finpari – Started in 2014, Finpari is one of the best-known names in the game. It is one of the few to accept traders from the USA. It uses the SpotOption trading platform and has a low minimum deposit fee. It accepts WebMoney payments, PayPal, Skrill, Neteller and all of the other payment methods common to binary options brokers.
More Webmoney Binary Options Brokers
Stockpair – This broker has been in the game since the year 2010. Based in Cyprus, it is known for its proprietary Stockpair trading platform. It has a low minimum deposit required, and offers payments to traders in 3 different currencies. The broker doesn’t support trading accounts in the US owing to certain regulations. It has one of the biggest ranges of learning materials for new traders, and some very high rated customer support. It also supports WebMoney along with Neteller, bank transfers, Skrill and credit cards.
OptionRally – OptionRally has been up and running since 2010. It uses the famed SpotOption trading platform. Based in Cyprus, the broker offers payouts to traders in a number of different currencies. Owing to regulations, it cannot support trading accounts from the US. It does have support for WebMoney as well as many other payment options.
Binary Options Brokers that Don’t Accept Webmoney
Boss Capital – founded in 2014, this is a great broker that uses the Tech Financials platform. They accept traders from the US as well, but don’t have support for Webmoney. They accept a number of other methods though.
Porter finance – Launched in 2015, they use the SpotOption platform (Gen 2) with many trading signals. While they don’t have support for WebMoney, they accept other payment methods.
Webmoney vs. Bank Wire
The main perk with WebMoney compared to bank wire transfer is that payments are instant. Bank transfers can take days to process. Another advantage is that webmoney deposits have no fees while bank wires usually cost at least $30.
The best alternative to Webmoney is Paypal. You can fine a list with all paypal binary options brokers here.
WebMoney is a platform that is perfect for the people without a credit card. If you are looking for a payment system that meets your needs without needing a bank account or card details, this is the system for you.