How to get started with Web Money
Registration in WebMoney system includes a four-step process.
As a new user, you will need to go to www.wmtransfer.com and click on the sign-up button.
You will then enter your mobile number, including an international code.
You will receive a verification code anytime you initiate a transaction for safety purposes.
You can also register via popular social networks. You will then be required to enter your personal details by filling out a form; ensure that you input correct personal data since you will need verification to fully access the account.
After that, you will need to confirm your email address and phone number after which you will set up a secure password. As a new user, there are limits to the total amount you can transact and you need to get a certificate to lift limits.
Advantages of Webmoney
Webmoney has been a beneficial and a recommendable payment system for the following reasons:
Instant Transfers- Both deposits and withdrawals are conducted in a fast and smooth manner that ensures that your money arrives in your account quickly.
Multiple Currencies- WebMoney supports multiple currencies, six to be exact, including Euro, USD, Belarusian ruble, Rur, Japanese yen among others.
Protection and Privacy- WebMoney state they will never give customer credit card information to any third party.
WebMoney charges the user per every transaction they make. The fee is set at a rate of 8 percent of the money being transacted. However, the fee should not be less than 0.01 WM or higher than 50 WM either.
Purse types are laid out depending on the currencies. The purses include:
WMZ-a purse of type Z holds funds in US dollars.
WMX type — funds in BTC
WMR-a purse R type holds funds in Russian dollars
WMU- The U purse holds funds in Ukranian hryvnias.
WME- The E purse holds funds in the Euro
WMK type — funds in Kazakh Tenge
WMG type — funds equivalent to gold
There are many deposit methods which users can use to top up cash into their account including:
Online Bank Cards (Visa and Mastercard), Internet banking, cash-in terminals, electronic money, prepaid vouchers and cards, bank branch, bank wire, Money transfer systems and WebMoney exchange offices.
Users can withdraw money from their accounts using:
Bank cards, cash, money transfer systems, bank wire and electronic money.
Deposits to a WebMoney account are mostly instant except for money transfer systems and bank wire which take 1 day. It takes typically 3 days for you to withdraw money from WebMoney to a bank card, 2 days by money transfer, 3 days by bank wire and 1 day via cash into stock exchange. However, withdrawal to WebMoney card, webmoney offices, electronic money and cash via a bank are instant.
How Secure is it?
WebMoney is among the most secure payment systems. Users can secure their purses against unauthorised transactions and intrusions by:
- Setting a list of IP addresses to access the system
- Confirming any transaction via phone
- Enabling or disabling pay via sms option
- Authorising transactions with E-num
Some of the most popular funding methods include:
BrokerNotes.co 2023 Overall Rankings
To recap, here are our top forex brokers for 2023, sorted by Overall ranking.
Popular Forex Reviews
At BrokerNotes.co, our data-driven reviews of online brokers are based on our own extensive testing of each broker's products and services as well as the qualified observations of our expert editorial team. In conjunction with our sister site, ForexBrokers.com, we’ve published well over 100,000 words of research and collected thousands of data points across hundreds of variables. Our in-depth trading guides are created with the same rigorous, data-driven approach.
Our proprietary Trust Score rating system tracks data from over 100 regulatory jurisdictions to help forex traders understand the regulatory status of their forex broker and choose a broker that they can trust.
Our editorial team is led by Steven Hatzakis, an industry veteran with decades of experience and a deep understanding of the forex market. Our team conducts thorough testing on a wide range of brokers, platforms, products, technologies, third-party trading tools, and mobile apps. We also test for the availability of high-quality educational content, actionable market research resources, and the accessibility and capabilities of mobile platforms. All of our ratings and rankings are based on the collection and validation of thousands of data points and our in-depth product testing.
Part of our testing process involves in-depth research into commissions and fees. We dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads (we always strive to determine the average spreads for each broker to better serve our readers), and a variety of other fee-based data points.
When testing mobile apps or mobile products, we test on both Apple and Android devices. For Apple, we test with the iPhone XS running iOS 16, and for Android we use the Samsung Galaxy S9+ and Samsung Galaxy S20 Ultra devices running Android OS 13.
All of the content on BrokerNotes.co is researched, fact-checked, and edited by members of our editorial team. Our ratings and rankings are driven by our independent data collection. We may use generative AI tools to assist in some of the rote aspects of our content production processes, but the substance of our content, as well as our opinions and evaluations are based on our extensive research and product testing. Read our Generative AI policy to learn more.
Our rigorous data validation process provides our readers with quality data they can trust. Click here to learn more about how we test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.
About the Editorial Team