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Best Webmoney Forex Brokers of 2024

BrokerNotes.co

Written by BrokerNotes.co

March 14, 2024

WebMoney Transfer is a global settlement firm that was started in 1998 and ever since has grown to be among the top global settlement systems with over 32 million customers worldwide. Webmoney provides reliable services that allow clients to keep track of their funds, resolve disputes, attract funding, as well as make secure transactions. It provides a safe haven for online business transactions and its technology is based on offering customer’s interfaces that allow operation and control of individual property rights for assets in the specialised entities. It is a perfect for online shops, internet-based platforms and online billing services.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best Webmoney Forex Brokers

Here are the best webmoney forex brokers.

  • IG
    - 9.9/10 Overall
  • Interactive Brokers
    - 9.9/10 Overall
  • Saxo - 9.7/10 Overall
  • CMC Markets - 9.6/10 Overall
  • FOREX.com
    - 9.4/10 Overall
  • Charles Schwab - 9.3/10 Overall
  • City Index - 9.3/10 Overall
  • XTB - 9.1/10 Overall
  • eToro - 8.8/10 Overall
IG
star 9.9/10 Overall
Minimum Deposit£250.00
Tier-1 Licenses8
Tradeable Symbols (Total)19537

Year after year, IG has shown itself to be the best broker in the forex industry and a fantastic choice for forex traders. Highly trusted and regulated across the globe, IG delivers a wide variety of rich features, market research, and powerful trading tools. Fans of copy trading will appreciate IG’s seamless integration of trading signals into its web platform. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Visit Site

Join 239,000+ traders worldwide.

(Trading forex carries a high level of risk.)

Interactive Brokers
star 9.9/10 Overall
Minimum Deposit$0
Tier-1 Licenses9
Tradeable Symbols (Total)8500

Interactive Brokers is a highly trusted broker regulated across the globe that delivers access to over 100 markets, including forex and CFDs. Its Trader Workstation (TWS) platform offers a variety of advanced trading tools for experienced traders, and IBKR's web-based platform is great for beginner forex traders. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
Visit Site

Earn up to 4.83% on idle cash balances.

(66% of retail CFD accounts lose money.)

Saxo
star 9.7/10 Overall
Minimum Deposit$0
Tier-1 Licenses7
Tradeable Symbols (Total)70000

Saxo is a highly trusted broker that operates multiple banks and is regulated across the globe. Saxo delivers an incredible cross-platform experience alongside powerful research and a vast selection of more than 60,000 symbols across multiple asset classes. It’s worth noting that minimum deposits at Saxo are steep. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
CMC Markets
star 9.6/10 Overall
Minimum Deposit$0
Tier-1 Licenses5
Tradeable Symbols (Total)11925

CMC Markets is a highly trusted multi-asset broker regulated in multiple Tier-1 jurisdictions. CMC's powerful Next Generation trading platform for web and mobile delivers a huge selection of markets and a fantastic user experience. CMC Markets also ranks highly for its high-quality research and educational content. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
FOREX.com
star 9.4/10 Overall
Minimum Deposit$100
Tier-1 Licenses7
Tradeable Symbols (Total)5500

FOREX.com is a highly trusted brand with a long history of offering forex in the U.S. and across the globe. FOREX.com offers its own flagship trading platforms for web and desktop, as well as the full MetaTrader suite. Though its pricing is higher than average, FOREX.com is a balanced choice for traders of all experience levels. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Visit Site

Pay 0 commissions on equities *T&Cs apply

(69%-77.7% of retail CFD accounts lose money.)

Charles Schwab
star 9.3/10 Overall
Minimum Deposit$0
Tier-1 Licenses5
Tradeable Symbols (Total)40000

Charles Schwab is a leader in platform technology and trusted by millions of investors globally with trillions in assets under its brands. Available exclusively to U.S. residents, Charles Schwab's forex offering consists of just over 70 currency pairs, along with powerful research and trading tools. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
City Index
star 9.3/10 Overall
Minimum Deposit£100.00
Tier-1 Licenses7
Tradeable Symbols (Total)13500

City Index, part of StoneX Group, is an award-winning, highly trusted broker with a long history of offering forex and CFDs across its global offices. City Index delivers a well-designed mobile trading app and a powerful web platform, as well as a large range of tradeable markets (though pricing is just average). Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
XTB
star 9.1/10 Overall
Minimum Deposit$0 info
Tier-1 Licenses2
Tradeable Symbols (Total)6100

XTB is a highly trusted brand with a proprietary platform (xStation 5) that delivers a rich selection of trading tools. XTB also offers CFDs for a wide range of asset classes, including multiple cryptocurrencies. Beginners will appreciate XTB's excellent educational content and the hundreds of lessons that are available via its Trading Academy.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
eToro
star 8.8/10 Overall
Minimum Deposit$10-$10,000
Tier-1 Licenses3
Tradeable Symbols (Total)3479

Best known for its copy trading platform suite, eToro is a highly trusted broker offering a large selection of cryptocurrency products, CFDs, shares, forex pairs, and a wide range of powerful trading tools. It’s worth noting that eToro is not a discount broker (though it offers zero-dollar commissions for U.S. stocks). Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)No
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No

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.

Using Webmoney

Fees

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

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
  • Deposit methods

    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.

    Withdrawal Methods

    Users can withdraw money from their accounts using:
    Bank cards, cash, money transfer systems, bank wire and electronic money.

    Processing Time

    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.

    Company Overall Rating Minimum Deposit Average Spread EUR/USD - Standard Trust Score Tradeable Symbols (Total) Read Review Visit Site
    IG logoIG 9.9 £250.00 0.98 info 99 19537 IG Review Visit Site
    Interactive Brokers logoInteractive Brokers 9.9 $0 0.63 info 99 8500 Interactive Brokers Review Visit Site
    Saxo logoSaxo 9.7 $0 1.1 info 99 70000 Saxo Review Read Review
    CMC Markets logoCMC Markets 9.6 $0 0.61 info 99 11925 CMC Markets Review Read Review
    FOREX.com logoFOREX.com 9.4 $100 1.4 info 99 5500 FOREX.com Review Visit Site
    Charles Schwab logoCharles Schwab 9.3 $0 1.25 info 99 40000 Charles Schwab Review Read Review
    City Index logoCity Index 9.3 £100.00 1.4 info 99 13500 City Index Review Read Review
    XTB logoXTB 9.1 $0 info 1.00 info 96 6100 XTB Group Review
    eToro logoeToro 8.8 $10-$10,000 1 info 90 3479 eToro Review Read Review
    Swissquote logoSwissquote 8.8 $1000 N/A info 99 472 Swissquote Review
    Capital.com logoCapital.com 8.7 $20 info 0.67 info 87 3007 Capital.com Review Read Review
    AvaTrade logoAvaTrade 8.7 $100 0.92 info 94 1260 AvaTrade Review Read Review
    Plus500 logoPlus500 8.6 €100 1.5 info 99 5500 info Plus500 Review Read Review
    OANDA logoOANDA 8.5 $0 1.57 info 93 1744 info OANDA Review Read Review
    FXCM logoFXCM 8.5 Starts from $50 0.74 info 95 440 FXCM Review Read Review
    Admirals logoAdmirals 8.5 $100 0.8 info 93 8702 Admiral Markets Review Read Review
    Pepperstone logoPepperstone 8.4 $200 0.77 info 95 2342 Pepperstone Review Read Review
    XM Group logoXM Group 8.4 $5 1.6 info 88 1394 XM Group Review
    FP Markets logoFP Markets 8.3 $100 AUD 1.1 info 87 10000 FP Markets Review Read Review
    FxPro logoFxPro 8.1 $100 1.51 info 90 2249 FxPro Review Read Review
    IC Markets logoIC Markets 8.1 $200 0.62 info 84 3583 IC Markets Review Read Review
    Markets.com logoMarkets.com 8.1 $100 1.9 info 96 2179 Markets.com Review
    Tickmill logoTickmill 8.1 $100 0.51 info 86 725 Tickmill Review Read Review
    FinecoBank logoFinecoBank 8.0 $0 N/A info 94 9770 Fineco Bank Review Read Review
    BlackBull Markets logoBlackBull Markets 8.0 $0 0.76 info 78 26000 BlackBull Markets Review Read Review
    Vantage logoVantage 8.0 $50 1.30 info 90 1000 Vantage Review
    HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets) 7.9 $20 0.6 info 88 1199 HYCM Review Read Review
    HFM logoHFM 7.9 $0 1.2 info 86 3500 HFM Review Read Review
    ThinkMarkets logoThinkMarkets 7.8 $0 info 1.1 info 92 4000 ThinkMarkets Review Read Review
    FlowBank logoFlowBank 7.7 $0 N/A info 80 408600 FlowBank Review Read Review
    DooPrime logoDooPrime 7.8 $100 N/A info 83 10000 DooPrime Review Read Review
    Trading 212 logoTrading 212 7.7 €10 1.9 info 79 8025 Trading 212 Review
    BDSwiss logoBDSwiss 7.7 $10-$5000 info 1.6 info 76 1081 BDSwiss Review Read Review
    Trade Nation logoTrade Nation 7.6 $0 0.6 85 1000 Trade Nation Review
    TMGM logoTMGM 7.6 $100 N/A info 83 12000 TMGM Review
    Moneta Markets logoMoneta Markets 7.5 $50 1.27 info 72 1016 Moneta Markets Review
    Eightcap logoEightcap 7.5 $100 1.0 info 85 736 Eightcap Review Read Review
    MultiBank logoMultiBank 7.5 $50 N/A 84 1042
    ACY Securities logoACY Securities 7.4 $50 1.2 info 75 2200 ACY Securities Review Read Review
    RoboForex (RoboMarkets) logoRoboForex (RoboMarkets) 7.3 $100 1.4 info 71 12000 Roboforex (RoboMarkets) Review
    VT Markets logoVT Markets 7.3 $100 1.2 info 70 1000 VT Markets Review
    easyMarkets logoeasyMarkets 7.3 $50 0.8 info 80 199 easyMarkets Review Read Review
    IronFX logoIronFX 7.2 $50 1.2 83 340 IronFX Review Read Review
    Spreadex logoSpreadex 7.2 $0 0.81 info 71 10000 Spreadex Review
    IFC Markets logoIFC Markets 7.2 $1 1.44 info 67 630 ATFX Review
    Trade360 logoTrade360 7.2 $250 N/A info 76 1062 Trade360 Review
    Octa logoOcta 7.2 $25 0.9 info 70 230 OctaFX Review
    Axi logoAxi 7.1 $0 N/A info 81 175 Axitrader Review Read Review
    TeleTrade logoTeleTrade 7.1 $100 N/A 71 500 Teletrade Review
    GKFX logoGKFX 7.0 $0 N/A info 65 354 GKFX Review Read Review
    Exness logoExness 7.0 $1 0.9 info 71 112 Exness Review Read Review
    Vestle logoVestle 7.0 -1 N/A 78 750 Vestle Review
    FXOpen logoFXOpen 7 $100 N/A info 80 87 FXOpen Review Read Review
    FXPrimus logoFXPrimus 7.0 $100 N/A info 71 140 FXPrimus Review Visit Site
    Forex4you logoForex4you 6.9 $0 N/A info 61 150 Forex4you Review Read Review
    GBE brokers logoGBE brokers 6.8 $500 N/A info 71 500 GBE Brokers Review Read Review
    Alpari logoAlpari 6.8 $20 N/A info 68 105 Alpari Review Read Review
    TopFX logoTopFX 6.7 Depends on payment method N/A info 67 655 TopFX Review
    Libertex (Forex Club) logoLibertex (Forex Club) 6.7 $10 N/A info 73 300 Libertex Review Read Review
    LegacyFX logoLegacyFX 6.7 $500 N/A 67 425 LegacyFX Review Read Review
    FXGT.com logoFXGT.com 6.6 $5 N/A 69 117 FXGT Review Read Review
    ATFX logoATFX 6.5 $500 N/A info 73 150 ATFX Review Read Review
    Xtrade logoXtrade 6.5 $250 N/A info 80 142 Xtrade Review

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    Methodology

    At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.

    Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.

    All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.

    Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).

    AI disclaimer

    We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. Learn more about our AI Policy and 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

    BrokerNotes.co
    BrokerNotes.co

    BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.

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