Wise Setup Guide
Wise (formerly TransferWise) is the go-to withdrawal method for international prop traders. Low fees, fast transfers, and multi-currency support make it the best option for most non-US traders.
Why Wise for Prop Trading?
Low Fees
0.3-1.5% conversion fee vs 3-5% for traditional banks. On a $5,000 payout, you save $100-200.
Multi-Currency
Hold USD, EUR, GBP, and 50+ currencies. Get paid in USD and convert when rates are favorable.
Fast Transfers
Most payouts arrive within 1-2 business days. Supports local bank transfers, debit cards, and more.
Step-by-Step Setup
Create a Wise account
Go to wise.com and sign up with your real name (must match your prop firm account). Complete identity verification with a passport or ID card.
Open a USD balance
Go to 'Balances' → 'Open a Balance' → 'USD'. This gives you US bank account details (routing + account number) that prop firms can send payouts to.
Get your USD account details
Click on your USD balance → 'Account details'. You'll see a routing number and account number. These are the details you'll give to your prop firm.
Link to your prop firm
In your prop firm dashboard, go to payout settings. Enter your Wise USD account details as a 'US bank account'. The firm sends a domestic USD transfer — no international wire fees.
Convert and withdraw
Once the payout arrives in your Wise USD balance, convert to your local currency at the mid-market rate. Transfer to your local bank account.
Which Props Firms Support Wise?
| Firm | Wise Support | Other Methods |
|---|---|---|
| FTMO | ✅ Direct | Bank wire, Skrill, Crypto |
| Apex Trader Funding | ✅ Via bank details | ACH, PayPal |
| Topstep | ✅ Via bank details | ACH |
| Take Profit Trader | ✅ Via bank details | ACH, PayPal |
| FundedNext | ✅ Direct | Crypto, Rise, Bank wire |
Pro tip: Don't convert to your local currency immediately. Hold USD in Wise and convert in batches when exchange rates are favorable. You can set rate alerts in the Wise app.
Compare all payout methods
See which firms offer the fastest payouts and lowest fees.
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