Plus500 has been one of the best CFD brokers globally since 2008. The broker offers a wide range of online CFDs on forex, shares, commodities, and more!
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WebMoney is becoming a popular payment method in the UK. Brokerage firms are now embracing it since it is highly secure and affordable. As investors, we understand the importance of trading using an affordable transaction method. Therefore, we decided to conduct thorough market research to come up with the best WebMoney brokers for you. Our goal is to inform our readers accordingly. So, if you are looking to make the most of such brokers, we are here to give you proper guidance.
List of the Best WebMoney Brokers in the UK
AvaTrade – Top WebMoney Broker for Beginners in the UK
HYCM – WebMoney Broker for Advanced Traders in the UK
RoboForex – The Best WebMoney Broker with the Lowest Minimum Deposit in the UK
Identifying top WebMoney brokers in the UK was a lengthy and overwhelming procedure. We had to collect and test hundreds of options to ensure they met our stringent specifications. We also compared them based on various elements. These include security, platform reliability, support service, demo account, charges, and more.
In Addition, we analysed user testimonials on Google Play, the App Store, and Trustpilot. We wanted to understand the brokers’ strengths and weaknesses from a user perspective before choosing our top options for recommendations.
Simply put, we created this list of WebMoney UK brokers based on multiple test results and user testimonial findings. Below is our comparison table highlighting the features of our top brokers, which can help you make informed decisions.
Credit card, Debit card, Neteller, Skrill, UnionPay, WebMoney, Bank Wire
Yes
Yes, up to €20,000 (£17,178)
Brief Overview of Our Recommended WebMoney Brokers’ Fees and Assets
We always encourage our readers to choose brokers with features aligning with their trading requirements. Among the features to consider are broker fees and asset offerings, which are crucial when it comes to planning your activities.
Unfortunately, comparing brokers’ fees and asset selection for a suitable choice can be a daunting process for traders. Therefore, we did all the legwork and share these elements in our tables below.
1. AvaTrade - Best WebMoney Broker for Beginners in the UK
We tested AvaTrade and found it to be a reliable WebMoney UK broker, especially for newbies. With a user-friendly interface, this broker makes users enjoy their experiences. Plus, we discovered a wide range of learning materials, including articles, guides, videos, and more. Signing up for an account also involves straightforward procedures, with a low minimum deposit requirement of £100.
We like that AvaTrade supports copy and social trading on its AvaSocial, DupliTrade and ZuluTrade platforms. Furthermore, you will benefit from its automated trading features and quality resources for technical and fundamental analysis. With the availability of third-party platforms like MT4/MT5 and reliable support service, AvaTrade is worth trading with. You can test its offerings via its demo account before making a commitment.
1
AvaTrade Review
TradingGuides Rating:
✔ One of the most popular brokers in the UK/EU
✔ Quick deposits and withdrawals
AvaTrade impresses with a robust portfolio of over 1250 assets, encompassing a wide range of trading instruments.
Forex – AvaTrade facilitates trading in a broad spectrum of currency pairs, enabling exposure to the dynamic forex market and diverse CFD options.
Stocks and Commodities – The platform offers a comprehensive selection of stocks and commodities, allowing users to invest in companies and raw materials across global markets.
Cryptocurrencies – AvaTrade supports trading in cryptocurrencies, providing access to a multitude of digital assets, including popular ones like Bitcoin, Ethereum, and more.
ETFs, Bonds, Treasuries, and Indices – AvaTrade’s offerings extend to ETFs, bonds, treasuries, and indices, offering diversification opportunities and exposure to various sectors and industries.
2. HYCM - WebMoney Broker for Advanced Traders in the UK
HYCM has a long track record and is one of the pioneer WebMoney brokers today. It is multi-regulated, which assures you that your funds are stored in a segregated account. From our experience, the broker has a fast trade execution speed. We primarily recommend it to active traders who open multiple positions within a day.
We explored over 100 CFD instruments at HYCM, including forex, shares, commodities, and indices. Moreover, HYCM hosts a plethora of the most advanced trading tools listed on its HCYM Trader, MT4, and MT5 trading platforms. There are no commissions with this broker but spreads, starting from 0.1 pips on major currency pairs. Plus, HYCM has a low minimum deposit requirement of £20 with free transactions.
1
HYCM Review 2024
TradingGuides Rating:
✔Low forex and CFD fees ✔ Great educational content
Excellent trading tools on its advanced platforms.
A user-friendly and intuitive design platform.
Free WebMoney transactions.
Cons
Limited asset offerings compared to its peers.
Only CFD assets supported.
Type
Fee
Minimum deposit
$100
Overnight fee
Yes
Deposit fee
$0
Withdrawal fee
$0
Inactivity fee
$10 each month
Traders will find more than 40 forex pairs at HYCM. Other products for trade include stocks, indices, cryptocurrencies, commodities, and ETFs.
3. RoboForex - WebMoney Broker with the Lowest Minimum Deposit in the UK
We tested RoboForex, and enjoyed a user-friendly platform that operates seamlessly on desktop and mobile devices. Getting started with it was pretty easy, and we deposited a minimum amount of £10 per its requirements. The broker lists over 12,000 tradable instruments across eight asset classes, including forex, stocks, indices, futures, ETFs, and more. All traders are commission-free, and professional traders have an opportunity to enjoy leverage limits of up to 1:2000.
Another element we like at RoboForex is its copy trading feature, which allows users to interact with others and mirror experts’ potentially profitable positions. You have three different account types to choose from, and quality resources on its MT4 and MT5 platforms. With low spreads from 0.0 pips and automated features, RoboForex is an excellent broker for all types of traders in the UK.
1
RoboForex Review 2024
TradingGuides Rating:
✔Low minimum deposit amount ✔Low commissions on CFDs
Lists over 12,000 trading assets across eight classes.
Leading MT4 and MT5 platforms.
£10 minimum deposit requirement.
Supports copy trading on its CopyFX platform.
Cons
Does not accept US clients.
Limited learning resources compared to its peers.
Type
Fee
Deposit Fee
$0
Withdrawal Fee
$0
Inactivity Fee
No
Account Type
Minimum Deposit
ProCent, Pro, Prime, and ECN
10 USD / 10 EUR or equivalent in the account currency
R StocksTrader
100 USD / 100 EUR
100 tradable assets on Forex and CFDs.
4. Forex.com - Best CFD WebMoney Broker in the UK
Forex.com is among the most user-friendly brokers we have used so far. Its customisable features enable traders, whether newbies or intermediate, to enjoy their experiences long-term without seeking other alternatives. From our experience, the broker has a streamlined account opening procedure with a low minimum deposit requirement of £100. All transactions using WebMoney and other payment methods are free, and users get to enjoy commission-free trades.
We also noticed that Forex.com hosts quality resources for all types of traders. The resources are listed on its WebTrader, TradingView, and MT5 platforms. For beginners, this broker hosts quality resources, from articles and guides to recorded videos and webinars. There is also a £50,000 virtually-funded demo account to test the broker and gauge your skill level before making a commitment.
1
Forex.com Review 2024
TradingGuides Rating:
✔ Unparalleled forex service ✔ Wide array of offerings
Lists over 4,500 instruments across various asset classes, including forex, stocks, commodities, and more.
A user-friendly and intuitive design platform.
Quality learning and market research tools.
Cons
You can only trade the featured assets as CFDs.
We find its forex trading spreads a bit higher compared to its peers.
Type
Fee
Minimum deposit
$100
Inactivity fee
$15
Deposit fee
$0
Withdrawal fee
$0
Overnight fee
$0
Clients can trade Forex, Indices, Cryptocurrencies, Stocks, and Commodities (including precious metals and oil) with different account types.
5. FXTM - Best Forex Broker that Accepts WebMoney
We explored over 1,000 securities at FXTM, making us easily diversify our portfolios across various asset classes. We traded forex, stocks, metals, indices, and more via CFDs. Plus, the broker lists quality learning materials, which can help newbies advance their skill levels while becoming familiar with the financial space.
When it comes to currency pairs, this broker lists over 40 options, which you get to trade at low spreads starting from 0.0 pips. The best part is that FXTM hosts multiple trading accounts, enabling every user to select what best suits their skill level. Users must deposit at least £200 to access the broker’s Advantage and Advantage Plus accounts.
1
FXTM Review 2024
TradingGuides Rating:
✔ Great education section
✔ Well-established broker
There is a variety of currency pairs to choose from.
A user-friendly and intuitive design platform.
Low forex trading charges, starting from 0.0 pips.
Quality learning and market analysis tools.
Cons
The product portfolio is limited.
High minimum deposit requirement for low-budget traders.
Type
Fee
Minimum deposit
$10
Overnight fee
$5
Deposit fee
$0
Withdrawal fee
$3
Inactivity fee
Yes
In the forex market, you have a choice of 250 currency pairs. If you decide to trade stocks, FXTM can offer you 170 options for stocks from different companies. Many of these stocks are offered not only as CFDs, but also for live trading. The broker also allows customers to trade cryptocurrencies.
6. XM - Best WebMoney Broker for Mobile Trading
Mobile traders looking for a reliable WebMoney broker in the UK should consider XM. From our findings analysing user testimonials, we noticed that the broker is among the most highly rated. Many users find its app user-friendly and customizable, which we confirmed while testing the broker. You can get started with as little as £5, and enjoy trading with low spreads from 0.6 pips on major currency pairs.
Regarding asset offerings, XM lists over 1,000 instruments, including forex, shares, commodities, indices, and more. All transactions using WebMoney and other supported methods are free of charge, and its inactivity fee of £10 monthly kicks in after 90 days. By hosting advanced platforms like MT4 and MT5, rest assured of trading with quality resources at XM.
Great quality trading tools on the MT4 and MT5 platforms.
A user-friendly and highly secure trading app for mobile traders.
There are no hidden charges with low spreads from 0.6 pips.
Reliable and responsive 24/5 support service.
Cons
Its inactivity fee licks in after only 90 days.
Limited asset offerings.
Type
Fee
Minimum deposit
5$
Overnight fee
0$
Deposit fee
0$
Withdrawal fee
0$
Inactivity fee
$15 one-off maintenance fee
Type
Micro Account
Standard Account
XM Ultra Low Account
Shares Account
Minimum deposit
5$
5$
5$
10.000$
Commission
No
No
No
Yes
Spread on all majors
As Low as 1 Pip
As Low as 1 Pip
As Low as 0.6 Pips
As per the underlying exchange
Leverage
Up to 1:1000
Up to 1:1000
Up to 1:1000
No
What is WebMoney Transfer?
WebMoney is a popular online payment system headquartered in Russia. It was launched in 1998 and facilitates secure and efficient transactions globally. To date, Webmoney is one of the most trusted e-wallets, particularly in Russia, Europe and other global countries.
The best element about WebMoney is that users can transact using multiple currencies. You can operate with multiple types of electronic currencies, each represented by a different “purse” within the system. These include WebMoney units tied to major currencies like USD (WMZ), EUR (WME), and more.
Additionally, this payment method is available for individuals and businesses alike. To benefit from it, you must register for a WebMoney Keeper account on its official website. This is like a digital wallet, where you will secure your funds and manage them for future transactions.
Overall, WebMoney is a secure digital payment system that is highly secured. It employs two-factor authentication, transaction confirmation codes, and more. Plus, we find it among the most affordable as its transaction charges are low.
How to Choose the Best UK WebMoney Broker
Choosing the right WebMoney broker in the UK requires a keen eye. You must ensure your broker aligns with your trading or investment requirements for maximum experience. If you are new to online trading, we guide you on the basic tips to never overlook if you want to find a suitable WebMoney broker in the UK.
In the UK, the best WebMoney broker must be licensed and regulated by the Financial Conduct Authority (FCA). Note that there are many fraudulent brokers looking to take off with your funds. Therefore, if you overlook this element, you might end up in the hands of scammers and lose your hard-earned money.
FCA-regulated brokers adhere to stringent rules set by the authority. They not only secure users’ funds in segregated accounts but also provide favourable trading conditions for an exciting experience.
A reliable WebMoney broker in the UK must be affordable. Confirm the transaction costs with the WebMoney payment method and other charges. These include commissions/spreads, minimum deposit requirements, inactivity fees, and more. Ensure your broker’s trading and non-trading charges align with your budget. You do not want to spend more than you are comfortable losing.
Settle with a broker that is user-friendly and features a modern design interface. It must also have a fast trade execution speed and support you with all the necessary tools for technical and fundamental analysis. For beginners, confirm the availability of learning materials and a demo account. This will ensure you can easily boost your skill level and gauge your performance before participating in live trading.
The best WebMoney broker must have a dedicated and supportive team of professionals at your beck and call. You should be able to easily contact them and rely on their response without pausing on your open activities. To confirm a support service’s reliability, contact the team via the supported channels and gauge their response rate. The support service must also be reachable during hours that are convenient for you. This is whether it’s 24/7 or five days a week.
Choose a WebMoney broker hosting your preferred securities, including forex, stocks, commodities, cryptos, and more. Depending on your preference, the broker must allow you to trade the assets using various methods, whether CFDs, indices, or buying and taking full ownership. Plus, you should be able to easily diversify your portfolio with a broker you select, thus reducing the risks that come with investing in a single asset.
Visit Google Play, the App Store, and Trustpilot to sample as many user comments as possible. You see, while it is crucial to consider the above elements, user testimonials allow you to understand the broker from a user perspective. You will easily understand its strengths and weaknesses for informed decisions.
Pros & Cons of Trading with WebMoney Broker
WebMoney brokers in the UK allow you to deposit and withdraw funds to and from your trading account using WebMoney. While this method is one of the most efficient in online trading, it has its drawbacks that you should note. Here are the advantages and disadvantages of using WebMoney brokers in the UK.
Pros
The payment method is highly encrypted and employs high security measures. These include two-factor authentication, transaction confirmation codes, and more.
WebMoney transactions are near instant. You will efficiently make deposits and withdrawals without inconveniencing your trading schedule.
The payment method has lower transaction charges compared to other payment methods like bank transfers.
WebMoney is a globally accepted payment method. It makes it easier for you to continue managing your traders even while travelling across borders.
Features additional services like P2P trading, currency exchange, credit facilities, and more.
Cons
Not all FCA-regulated brokers accept WebMoney for deposits and withdrawals. This may limit your choice of brokers.
It requires users to create an account on its website to enjoy its services. The set-up procedure can be complex for some traders, especially when it comes to understanding the use of different “purses” for various currencies.
Some brokers may limit the amount that can be withdrawn using WebMoney, inconveniencing high-volume traders who need to move large sums of money.
Not supported in many global countries.
FAQs
Does WebMoney require verification?
Yes. Before you transact using Webmoney, you need to verify your information.
Can I trust WebMoney?
Absolutely. Webmoney is highly encrypted, which guarantees your funds safety.
How do I get paid through WebMoney?
Using the site that accepts Webmoney, select the product or service you want to be paid for and follow the necessary commands to complete the payment.
Can I use WebMoney without a passport?
No. Any money transfer using Webmoney requires you to have a passport.
Is WebMoney legal in the UK?
Yes. Webmoney is legal and accepted by various trading brokers such as our referenced ones above.
Conclusion
There are many WebMoney brokers in the UK financial landscape. However, our options above are the best when it comes to offering quality trading services and tools to users. Moreover, they feature additional payment methods like PayPal, Skrill, Neteller, credit/debit cards, and more. This allows you to try transacting with other options and decide whether they are worth using in your trading activities. Our recommended WebMoney brokers also have reliable support services and learning materials. They make it easier for newbies to confidently kickstart their ventures, knowing that the brokers have their backs.
How we test?
Our test process is really based on two different aspects: our independent tests and research, as well as user reviews from Google Play, the App Store, and Trustpilot, etc.
The first thing we do when testing is to check every detail and test every tool and instrument. Our experts spend more than 200 hours on every article. We pay special attention to the specific function or the criteria that we’re comparing during the comparing stage. This means that we must determine which broker is more suited for beginners, and which is better suited for experts, for example.Find out more about our test process here.
Thadeus Geodfrey
Is a regular dad trying to be smart about how we play and win in this big game of life. He has worked within the very best of the financial industry producing numerous training resources. He is an experienced copywriter with immense financial background. Now earns a full time living as a Trader, and as our writer.
His articles help everyday families build sustainable wealth, stop stressing about their financial security, and start living the life they’ve always wanted.
If he is not trading or writing, he is at the gym.
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