WebMoney is an electronic currency system operated by WM Transfer Ltd. It was founded in 1998. There are several e-currencies circulating in this system, with the most popular being - WMZ (equals 1 USD), WME (equals 1 euro), and WMR (equals 1 Russian ruble). In addition to currencies, WebMoney supports units based on the physical gold (WMG, which equals to 1 gram of gold) and on Bitcoin (WMX, which equals 0.001 BTC).

WebMoney utilizes several methods for their customers to access system accounts:

  • WebMoney Keeper Classic — the most secure and fully functional access with highly sophisticated software.
  • WebMoney Keeper Lite —a less secure but still protected method access — via Internet browser.
  • Other methods are available but are rarely used.

WebMoney processes more than 300,000 transactions daily. As of June 2017, there are 34 million customers from all around the world. Though WebMoney started as a Russian payment system, it is now became an internationally popular e-currency system with a large number of global representatives and with an advanced deposit/withdrawal system. The standard transaction fee is paid by the sender and is 0.8% of the transfer amount but not less than 0.01 of an e-currency unit.

WebMoney is a highly secure online payment system, offering security through the special protected key-files — even if your password is hacked, your funds are still safe. While generic WebMoney accounts are anonymous, money withdrawal transaction involve personal identification. This makes WebMoney far more secure than PayPal or any other online payment system.

WebMoney is a good alternative for those Forex traders who search for fast, secure, and easy-to-use method to fund their accounts, leaving the troublesome worries with credit cards and bank wires behind. Many Forex brokers support WebMoney as the deposit/withdrawal option. Here is a short list of recommended Forex brokers supporting WebMoney:

To open account with WebMoney, please go to https://www.wmtransfer.com/.

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Forex trading bears intrinsic risks of loss. You must understand that Forex trading, while potentially profitable, can make you lose your money. Never trade with the money that you cannot afford to lose! Trading with leverage can wipe your account even faster.

CFDs are leveraged products and as such loses may be more than the initial invested capital. Trading in CFDs carry a high level of risk thus may not be appropriate for all investors.