| Updated: September 15, 2025- Jump to:
- How to Deposit
- How to Withdraw
- Pros of Using WebMoney
- Cons of Using WebMoney
- Fees and Limits
- WebMoney Chargeback
- Security
- Conclusion
Are you looking for regulated and trustworthy Forex brokers that accept WebMoney? Our expert team of traders tested numerous Forex brokers using real accounts and compiled a list of the best ones that accept WebMoney.
Plus500 USThis content applies only to Plus500 US and clients from the United States. Trading futures involves the risk of loss.- eToro61% of retail investor accounts lose money
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- Pepperstone75.5% of retail investor accounts lose money
WebMoney is a leading global settlement system that was initially orientated towards the needs of users from Russia. The payment system has dramatically expanded its footprint and is now among the most widely used banking solutions worldwide.
The platform was founded in 1998 and has been successful ever since. Figures show that there are more than 10,000 registrations daily, while the number of customers using the payment service exceeds 40 million.
This digital wallet has various purposes, as it can be used to pay for services or purchase goods. Moreover, it is a great option for Forex traders who are looking for a secure way to transfer funds to and from their brokerage accounts. Thanks to its reliability and speed, WebMoney can also serve as a viable alternative to other popular digital wallets such as Neteller, PayPal and Skrill.
How to fund a Forex account with WebMoney
Although WebMoney is a slightly less-known payment solution, especially when compared to the above-mentioned digital wallets, it is certainly gaining traction as it is accepted by more and more Forex trading platforms.
There is a clear surge in the popularity of the banking solution, meaning that finding a proper broker that accepts payments via WebMoney is unlikely to become a challenge. If you have already found a Forex trading platform but have never used WebMoney before, you should first head over to the official website of the company. Before you can use the payment system, you will be required to open an account. First, you will need to pick your country of residence and provide your phone number.
Next, traders need to enter their date of birth, email address, and choose a security question. Then, you will be prompted to provide the confirmation code that was sent to the phone number you have provided. The last step is to create a password and open a purse by selecting one of the supported currencies.
Since you will not have any funds in your wallet at this point, you will need to choose a way of funnelling money to it. Users can do so via bank transfer, credit card, prepaid card or electronic money, among others.
Topping up your Forex trading account will now be easy: first, enter the amount you would like to deposit. Once you have selected WebMoney, you will be redirected to the website of the payment provider, where you will be asked to log into your account in order to authorise the transaction. You will also be asked to decide whether you prefer to receive your confirmation code via SMS or email. As soon as the funds are deducted from the balance of your WebMoney wallet, they will be available on the Forex trading platform within a few minutes.
How to withdraw from a Forex account to WebMoney
Thankfully, a large number of brokers facilitate banking through WebMoney in both directions, which makes for greater convenience. To request a cash-out, traders need to navigate to the payments section, enter the amount they wish to withdraw, and select WebMoney as their preferred method. They will then be asked to enter the ID of their WebMoney wallet and click on ‘Request a payout’. As soon as traders are notified that their request is approved, they will be able to use their money for whatever purpose they like.
Once traders have transferred their profit back to their WebMoney wallet, they will be presented with several ways to access their money. Withdrawal options include bank transfer, electronic money, cash, or transferring funds to a card. Please keep in mind that the fees you need to pay if you decide to move your funds to the balance of your debit card or bank account will be the highest.
Benefits of using WebMoney for Forex trading
It is only natural that most people want to be satisfied with the efficiency and reliability of the payment method they are about to use, especially when it comes to Forex trading.
One of the biggest positives of paying through WebMoney is that your funds will always be in safe hands. The company has ensured that the service it offers complies with all industry standards for online money transfers. To strengthen the safety of transactions, users receive unique codes via SMS or can take advantage of single-use passwords, which should give you extra confidence that your funds are heavily safeguarded.
Another great thing about this payment processor is that, whether you are making a deposit or cashing out your profit, you will not be asked to expose any of your banking details. Deposits are completed by logging into your WebMoney account, while a cash-out is processed by providing the ID of your purse.
WebMoney users also have plenty of options when it comes to the payment methods they can employ to fund their WebMoney purse. Many will appreciate that they can set up purses in a wide range of currencies, and even in cryptocurrencies such as Bitcoin and Litecoin.
Forex traders can handle all their banking with ease, as the payment method is available for both deposits and cash-outs. This reduces concerns when carrying out payments, as they will not need to remember extra login credentials or use payment processors they are uncomfortable with.
Opening a WebMoney account takes almost no time and is cost-free. Overall, transactions through WebMoney will not cost the earth, which is a benefit that should not be underestimated. Finally, it is a multi-purpose banking solution, allowing you not only to use it when speculating on Forex, but also to pay for various services and purchase goods.
Disadvantages of using WebMoney for Forex trading
Despite the advantages listed above, WebMoney has several downsides traders should not overlook if they are still determining whether it is the right means to handle their deposits and cash-outs.
First and foremost, a closer look at the fees reveals that certain charges are applied to almost all services. There are fees when funding your purse and when withdrawing funds from it. Although they might not be substantial, they are worth noting.
Another thing some WebMoney users might not be comfortable with is that some of the information on the company’s website is in Russian. This could pose a major issue, especially if you are not fluent in the language.
Finally, WebMoney might not be available at a large number of Forex trading platforms. If you insist on using this banking solution, you might end up with a slightly narrower range of options to choose from. There are also platforms where you cannot execute cash-outs through the service. Although this might not be widespread, it is worth confirming in advance.
Fees and limits when using WebMoney to trade Forex
One of the best ways to figure out if WebMoney can measure up to the expectations of Forex traders is to check the limits and fees the payment solution entails.
First, users of WebMoney need to pay attention to the charges applied by the company. Forex traders should be mindful that a fee of 0.8% is applied to every transaction they make. The ceiling on this fee might not be the same across the different currencies, so it is best to examine the relevant table. For example, in USD your daily limit will be either $300 or $600, while the monthly ceiling will be $1,000 or $3,000.
If you visit WebMoney’s website, you will also be able to check the timeframes within which your funds will be added to, or retrieved from, your purse, depending on the payment method chosen.
Most brokers refrain from imposing extra charges on deposits carried out through WebMoney. Although this usually applies to cash-outs as well, some brokers might add a commission on withdrawals, so we recommend confirming this before requesting a cash-out to avoid unpleasant surprises.
The minimum amount traders will be asked to deposit before they start speculating on Forex varies greatly between brokers. In most cases, traders can deposit as little as $50, $100 or sometimes even $200.
WebMoney chargeback on a Forex trading account
If traders have failed to find a decent broker and have ended up being fleeced, they should be aware that there are several possible moves they can make.
One option is to reach out to the licence issuer, who should investigate the matter. The situation can be more complicated if the broker is not licensed by a local regulator, making it more difficult to resolve the issue.
If you realise that you are using the services of a rogue broker, you might also have the opportunity to request a chargeback. However, whether this is possible depends exclusively on the payment method used and on whether you can prove you are in the right.
Unfortunately, traders who have chosen WebMoney as their banking solution will not have the opportunity to request a chargeback. Transactions executed through the payment gateway are irreversible, which might prompt some traders to reconsider using this processor.
Security when trading Forex with WebMoney
Traders are naturally apprehensive not only about the safety levels maintained by brokers but also about the safety of their chosen payment method. Thankfully, WebMoney provides all the means for safe transactions at all times.
When establishing your WebMoney account, you will be assigned a unique number that you will need throughout. The company utilises several methods to enhance security: traders can use security codes sent via SMS or one-time passwords.
Your payments are safeguarded because, in practice, you will not be prompted to expose any of your debit card information or similar data. Moreover, when making payments through WebMoney, your funds are either in your wallet or in the receiver’s wallet, making it virtually impossible for money to be lost.
Finally, all WebMoney users can decide which of their details will be exposed to the other participants in the transaction, giving them additional confidence that their safety is guaranteed.
Conclusion
WebMoney can be a viable payment solution for traders who are unwilling to utilise their credit/debit cards or bank accounts when speculating on Forex. One of the main reasons why WebMoney might be a good alternative is that, most of the time, it is available for both funding your account and retrieving your profit. On the downside, it is not accepted by that many brokers, which might impede finding a proper Forex trading platform that supports it.