Digital payment methods via e-currency are now the choice of online businesses, including forex traders. For traders, e-currency can be used to help the process of withdrawing deposits at forex brokers. Indeed, e-currency is not the only strategy for online transfers, but because of its speed, simplicity of procedure, and low fees, e-currency is widely chosen as an alternative to balancing transfers in a forex trading account.
Judging from the time difference, e-currency processing is faster than wire transfers. Usually, Wire Transfers can only process orders in a matter of days, whereas e-currencies only take hours. Even in terms of commissions, e-currency is still a mainstay because the average cost range is below 5%, sometimes even free at certain brokers. Seeing the many advantages that attract traders with this one payment model, some brokers are even competing to provide deposit and withdrawal services for forex brokers via e-currency. In addition, there is not only one type of e-currency per broker, but there are many options.
However, one of the electronic currencies favored by many traders is WebMoney. Since it was first founded in 1998, WebMoney has never once disappointed its clients, so it's no wonder that now the number of clients has reached millions of people worldwide.
1. Has unquestionable popularity.
Until 2008, the number of WebMoney clients has reached 6 million people from all over the world. At first, WebMoney only served users from Russia and beyond. But now WebMoney has been used globally by 30 million people and even more, including Indonesia.
2. Has a wallet system as a "wallet balance".
WebMoney presents the concept of a wallet or "wallet" which can be used as a storage unit equivalent to various currencies, gold, even Bitcoin. In order to distinguish each wallet from the currency values that can be stored in it, the wallets are divided into the following types:
Z-Purse (To hold WMZ equivalent to USD).
E-Purse (To hold WME equivalent to Euro).
R-Purse (For storing WMR equivalent to RUB).
G-Purse (To store WMG equal to 1 gram of Gold).
U-Purse (For storing WMU equivalent to UAH or Ukrainian Hyrvnia).
B-Purse (To hold the WMB equivalent of BYR or Belarusian Ruble).
K-Purse (To hold WMK equivalent to KZT or Kazakhstan Tenge).
X-Purse (To store WMX which is equivalent to 0.001 BTC or bitcoins).
3. Has multiple platforms with easy access and versions.
WebMoney has a variety of access options on PC and mobile, either via a browser or a download application. Platform features are not only limited to deposits, withdrawals and transfers. WebMoney users can also interact with other users, send invoices, view transaction history, download additional plug-ins, and much more. The WebMoney platform is also known as Keeper, which comes in four types:
Keeper Standard (Mini Account)
Keeper Standard is an online platform that can be accessed via a browser on a PC by users with a mini account. This service is available to manage accounts, wallets, and make transactions, but users can only open 1 wallet of a certain type. In addition, there is a limit to the number of transactions with a maximum amount that varies for each type of wallet and period.
Keeper WebPro (Light Account)
This platform is almost the same as Keeper Standard, because both can be accessed via a browser on a PC. However, Keeper WebPro is designed with additional functionality that allows users to use additional Webmoney features. The platform can also be opened in any browser and OS, and can even be operated on a mobile internet browser.
Keeper WinPro (Classic Account)
Keeper WinPro is a downloadable application for PCs running Windows OS. Users who have long had a WebMoney account prefer to use this platform because it has been equipped with additional functions that are not found in Keeper Standard.
This type of Keeper is a platform which is a downloadable application that can be opened on a smartphone. WebMoney's commitment to provide the best facilities can be seen in Keeper Mobile which is constantly being upgraded. Until now, there are 4 types of mobile keepers with special support for phones with OS Java (MIDP 2.0), Android, iPhone, and Windows Phone.
4. Equipped with a layered safety system.
No need to worry about data leaks and transaction disruptions, because WebMoney has provided a layered security system to protect the privacy of client data and funds. This is evident from the many levels of authorization when you transfer funds. There are several authentication methods such as passwords, secret keys, personal digital certificates, as well as E-Num services that can generate single-use passwords.
5. Working with many forex brokers.
As mentioned above, several brokers provide access to deposits and withdrawals via WebMoney. Brokers that accept deposit payments via WebMoney include FBS, Exness, FXOpen, FXTM, XM, Alpari, and HotForex. Usually every broker has a different policy regarding the transfer fees charged. There are those who charge a fee of 0.8%, but there are also brokers who waive commission fees, aka free.