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One of the available deposit and withdrawal options that the IQ Option trading broker offers is WebMoney. This e-wallet is one of the most convenient payment methods available, but its interface might raise some questions among those who’ve never heard of it. So, how to use WebMoney?

In this article we will show you how to register, set up and use your account in the most efficient way, so that you could send and receive funds without any issues. Read our WebMoney review to learn all the peculiarities of working with this e-wallet.

What is WebMoney?

WebMoney is an online payment system that allows you to create virtual wallets in different currencies. By using an electronic wallet, you will be able to send, store and receive money, pay for goods and services online quickly and without unnecessary complications. You can top it up with a bank card or other payment methods that are available in your country and later withdraw from your WebMoney account as well.

E-wallets are a fast and secure way of making purchases and transactions on the Internet, without the need to open your bank account every time. 

How to make a WebMoney account?

In order to sign up for WebMoney, visit the main page of the service — https://www.wmtransfer.com/. If you need to change the language of the page, it can be done at the very bottom of the main page, as it is shown in the screenshot below.

How to use WebMoney on IQ Option?
Change language option on WebMoney

In order to register an account, follow these steps:

  1. Click on the “Sign Up” button to create a new account. Later, once the account is registered, simply choose the “Log In” option to enter your wallet.
How to use WebMoney on IQ Option?
Sign Up and Log In buttons on the WebMoney website
  1. Fill in the required data: country, phone number, later on you will need to fill your profile with your personal information (name, surname, date of birth and so on) as well.
How to use WebMoney on IQ Option?
WebMoney registration form
  1. Proceed with the registration process and create a wallet of the currency that you prefer: you can create several currency wallets within one WebMoney account for your convenience.
How to use WebMoney on IQ Option?
WMZ and WMR purses in a WebMoney account

The wallet offers several purses in different currencies which you can choose from, or create several purses at once: USD, EUR, RUB, VND. The wallet also offers crypto currency balances, that allow you to purchase such cryptos as Bitcoin, Litecoin or BitcoinCash. Each balance has its own title, which helps distinguish it from others. 

WMD is used for a USD balance, WME — for a purse in EUR, WMR — for a WebMoney purse in RUB, WMX for a BTC purse and so on. Another purse that you may create is WMG — an equivalent for 1 gram of gold. 

Sending and receiving money

To understand how to deposit and withdraw with this e-wallet, first, create a purse in the needed currency, as described above. Click on the chosen purse and if you need to fill it up, click “Refill”. If you wish to send money from your WebMoney to another person or account, click on “Transfer”. 

How to use WebMoney on IQ Option?
WMZ purse

How to withdraw money from WebMoney? It is not a complicated process whatsoever. You will be able to choose from a wide variety of deposit and withdrawal options. Normally the top-up and withdrawal options include bank cards, bank transfers, cash-in terminals, M-Pesa and other e-wallets. However, it is always better to check the available methods in your particular WebMoney account as the options might differ depending on the country of registration.

How to deposit and withdraw from IQ Option using WebMoney?

Many brokers accept this e-wallet for payments, including IQ Option. If this e-wallet is your top-up method of choice, you can also withdraw your profits to it. Let’s see how deposits and withdrawals can be done step by step.

Deposit

To deposit with WebMoney, you can do the following:

  1. Log into your IQ Option account and click “Deposit”
  2. On the deposit page, find WebMoney among the available options 
How to use WebMoney on IQ Option?
Deposit with WMZ on IQ Option
  1. Choose the desired amount of deposit and click “Proceed to Payment”
  2. You will be redirected to WebMoney, where you can log into your e-wallet and approve the transaction
  3. Once the transaction is complete, the money will be credited to your IQ Option account immediately.

Withdrawal

To withdraw funds from your IQ Option account to your WebMoney wallet, you will need to follow the steps:

  1. Log into your account and click “Withdraw Funds”
  2. Find WebMoney among the available withdrawal options
  3. Choose the amount of withdrawal and enter the e-wallet number into the field. You can choose an WME or WMZ wallet (in EUR or USD)
  4. Make sure to specify your full e-wallet number, including the first letter, for example: Z120027577828
  5. Proceed with the withdrawal. The funds will reach your e-wallet account within 3 business days.

WebMoney verification procedure

While you can use WebMoney without passing verification, certain functionalities, including certain money limits, are only available after verification. It means that you will need to upload your passport to the system and fill in any necessary personal data that is required. Much like the IQ Option verification procedure, its purpose is to verify the user’s identity and protect their account and funds.

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