TransferWise Brokers 2025
Wise, previously TransferWise, is a multi-currency electronic transfer solution that can be used to deposit funds to online trading accounts. The London-based company makes it quick and easy to send funds internationally and convert currencies at the click of a button.
This review lists the highest-rated brokers that support TransferWise deposits, along with typical processing times, minimum and maximum payment limits, plus any fees. Our traders also explain how to deposit to TransferWise brokers.
Best TransferWise Brokers
From our rigorous testing, we recommend these 4 brokers that accept TransferWise deposits:
Here is a short overview of each broker's pros and cons
- Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
- XM - XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been delivering low trading fees across its growing roster of 1000+ instruments. It’s also highly regulated, including by ASIC and CySEC and offers a comprehensive MetaTrader experience.
- Fusion Markets - Fusion Markets is an online broker established in 2017 and regulated by the ASIC, VFSC and FSA. It is best known for its low-cost forex and CFD trading, although its multiple account types and copy trading solutions cater to a range of traders. New clients can sign up and start trading in 3 easy steps.
- Bitfinex - Established in 2012, Hong Kong-based Bitfinex is a formidable player in the crypto industry. It boasts a powerful proprietary platform, 180 cryptocurrencies and more than 430 market pairs available for spot or perpetual swaps derivatives trading. With new payment methods, lower entry barriers and fresh products like crypto futures, Bitfinex is attracting a wider range of active crypto traders.
Compare The Best TransferWise Brokers
| Broker | Minimum Deposit | Instruments | Platforms | Leverage |
|---|---|---|---|---|
| Interactive Brokers | $0 | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower | 1:50 |
| XM | $5 | CFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, Energies | MT4, MT5, TradingCentral | 1:1000 |
| Fusion Markets | $0 | CFDs, Forex, Stocks, Indices, Commodities, Crypto | MT4, MT5, cTrader, TradingView, DupliTrade | 1:500 |
| Bitfinex | $0 | Cryptocurrencies | Web Platform, Quantower | - |
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Christian Harris, Reviewer
Interactive Brokers Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower |
| Minimum Deposit | $0 |
| Minimum Trade | $100 |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.
- With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.
- The TWS platform has clearly been built for intermediate and advanced traders and comes with over 100 order types and a reliable real-time market data feed that rarely goes offline.
Cons
- IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
- You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
- Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
XM
"With a low $5 minimum deposit, advanced charting platforms in MT4 and MT5, expanding range of markets, and a Zero account offering spreads from 0.0, XM provides all the essentials for active traders, even earning our ‘Best MT4/MT5 Broker’ award in recent years."
XM Quick Facts
| Bonus Offer | $30 No Deposit Bonus When You Register A Real Account |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, Energies |
| Regulator | ASIC, CySEC, DFSA, IFSC |
| Platforms | MT4, MT5, TradingCentral |
| Minimum Deposit | $5 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:1000 |
| Account Currencies | USD, EUR, GBP, JPY |
Pros
- XM stands out for its commitment to trader education, with a wealth of well-presented resources, including webinars, tutorials, and even real-time trading sessions through XM Live.
- XM’s customer support has delivered over years of testing, with 24/5 assistance in 25 languages, response times of <2 minutes and now a growing Telegram channel.
- XM’s Zero account is ideal for day trading with spreads from 0.0 pips, 99.35% of orders executed in <1 second, and no requotes or rejections.
Cons
- XM is falling behind the curve by not offering cTrader and TradingView which are increasingly being favored over MetaTrader for their smoother user experience and superior charting packages.
- While the XM app stands out for its usability and exclusive copy trading products, the selection of technical analysis tools needs to be improved to meet the needs of advanced traders.
- XM relies solely on the MetaTrader platforms for desktop trading, so there’s no in-house downloadable or web-accessible solution for a more beginner-friendly user experience with unique features.
Fusion Markets
"Fusion Markets is a standout option for forex traders looking for excellent pricing with spreads near zero, industry-low commissions and recently TradingView integration. It’s a particularly good broker for Australian traders where the company is headquartered and regulated by the ASIC."
Fusion Markets Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, Crypto |
| Regulator | ASIC, VFSC, FSA |
| Platforms | MT4, MT5, cTrader, TradingView, DupliTrade |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:500 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- The market analysis features, Market Buzz and Analyst Views, are great tools for discovering opportunities and conveniently integrated into the client dashboard.
- Fusion Markets offers best-in-class support with very fast, friendly and helpful responses during tests and no frustrating automated chatbot to navigate.
- The range of charting platforms and social trading features is excellent, with MT4, MT5, cTrader and more recently TradingView, catering to a wide range of trader preferences.
Cons
- There is no proprietary trading platform or app built with beginners in mind, a notable drawback compared to AvaTrade.
- While the selection of currency pairs trumps most rivals, the broker's alternative investment offering is average with no stock CFDs beyond the US.
- Fusion Market trails alternatives, notably eToro and IG, in the education department with limited guides and live video sessions to upskill new traders.
Bitfinex
"With its growing token selection, advanced charting tools and volume-based fee structure, Bitfinex is a compelling choice for frequent crypto traders. However, testing reveals a daunting platform for newer day traders, hit-and-miss education and regulatory fines that raise safety concerns."
Bitfinex Quick Facts
| Bonus Offer | Referral Codes |
|---|---|
| Demo Account | Yes |
| Instruments | Cryptocurrencies |
| Platforms | Web Platform, Quantower |
| Minimum Deposit | $0 |
| Minimum Trade | $10 |
| Account Currencies | USD, EUR, GBP, JPY, TRY |
Pros
- Bitfinex is well-suited to algo traders, facilitating automated trading through its Honey terminal and API integration, enabling traders to program trading strategies efficiently.
- Bitfinex boasts excellent liquidity across its crypto trading pairs, reducing the likelihood of slippage and ensuring efficient order execution, particularly for large volume trades, making it reliable for frequent traders.
- Despite a steep learning curve, the Bitfinex trading platform delivers for experienced traders, featuring a comprehensive charting package with 12 timeframes, plus margin trading and various order types.
Cons
- For occasional crypto traders and investors prioritizing simplicity, platforms like eToro, Gemini, or Kraken are superior options.
- Testing reveals inadequate support, especially for active traders, with response times of 12 hours via email and a frustrating user experience with no live chat integrated into the trading platform.
- Like many crypto exchanges, Bitfinex operates in a regulatory grey area, which may pose risks for traders, especially compared to trusted crypto trading platforms like eToro.
How Did We Choose The Best Wise Brokers?
To reveal the top Wise brokers, we:
- We examined our database of 500 online brokers, removed all those not accepting Wise payments
- Ensured that they accept Wise deposits and withdrawals for online trading
- Sorted them by their overall score, using 100+ data entries and findings from our in-depth tests
What Is TransferWise?
Wise is a financial technology company that provides money transfer services to customers, including online traders. The firm was launched in 2011 with a mission to make international payments fair, low-cost, and easy.
Wise is a good payment method for retail investors looking to make deposits to live trading accounts. It is a safe and secure payment gateway, with regulation from FinCEN in the US and the FCA in the UK. Traders can also hold and convert money in 40+ currencies and the gateway is available in 160 countries.
How It Works
The company’s technology links together local institutions across the globe to create an intuitive, connected payment system. Put simply, all supported countries have a virtual hub, in which payments, including deposits to broker-dealer accounts, are verified and executed.
Payments will be sent in local currency to a TransferWise hub in your jurisdiction. The recipient Wise hub will then execute the converted payment in the alternative currency, without actually transferring funds cross-border.
For example, if you are a US trader but want to deposit funds to UK TransferWise brokers, your payment would be made to the Wise hub in the US and the UK hub will pay the UK brokerage the equivalent funds in GBP.
The company makes a small profit through fees on these transactions, which are calculated upfront before any transfers are requested. Importantly, TransferWise uses an exchange rate based on the current market rate, unlike many banks that add a surcharge.
Transaction Times
Deposits to live trading accounts through Wise can be instant. For example, if you are depositing to TransferWise brokers with a UK-registered bank account in GBP, you can expect almost instant funding.
However, funds can only be transferred via normal banking hours. The time taken for transactions to be complete will also depend on various factors, including if a currency conversion is required and the location of the recipient’s bank.
Brokers that accept TransferWise deposits may also require additional security checks which can cause delays. Moomoo, for instance, processes Wise deposits within one working day, with an expected receipt time of up to three working days for funds to be available.
Fees
Deposits and withdrawals to and from Wise brokers are usually low-cost.
New customers will need to register for an account with the brand, though this is free. There is a transfer fee and an exchange rate charge applied by Wise, but the firm promises that it is up to “8x cheaper than making payments via bank wire transfer”.
Wise uses the live exchange rate rather than adding a commission fee. This means there are no hidden charges or subscription fees. Relevant charges are displayed before all payments are submitted.
Some TransferWise brokers also do not charge additional transfer fees. Saxobank, for example, refunds all intermediary fees associated with depositing via Wise.
Charges to be aware of when trading with Wise include:
- Holding money in a Wise account – no fee
- Sending money (e.g. depositing to a live trading account) – from 0.35%
- Receiving USD bank wire transfers (e.g. a withdrawal from a live trading account) – $6.11
- Receiving non-bank wire transfers (AUD, CAD, EUR, GBP, HUF, NZD, RON, SGD, TRY, and USD) – no fee
There is also a useful fee calculator available on the Wise website so you can understand applicable charges before requesting a money transfer to your brokerage account. Equally, the best brokers that accept TransferWise deposits are upfront about payment fees.
Security
Traders can feel assured that Wise is a reputable payment gateway. The top TransferWise brokers also operate with top-tier regulatory oversight, comply with data privacy rules, and provide full transaction encryption.
Safety features that Wise integrates include two-factor authentication (2FA) for account changes and transaction approvals, data protection systems, and a dedicated global anti-fraud team. Client funds are also held separately from business money in segregated accounts with trusted financial institutions.
Additionally, the payments company is regulated across the world with oversight from the US Financial Crimes Enforcement Network (FinCEN) and the UK Financial Conduct Authority (FCA), among others.
Pros Of TransferWise Brokers
- The transparent pricing model means day traders are aware of the costs involved in depositing to trading accounts
- A Wise bank card can be obtained, which can be used to withdraw money from ATMs in more than 175 countries worldwide
- Wise offers a free iOS and Android mobile app available in 15 languages. The mobile application is a convenient way to make payments to brokers that accept Wise deposits and withdrawals
- Traders can access additional investment opportunities via the Wise Assets Program. Customers can invest money directly from a Wise account in the iShares World Equity Index Fund
Cons Of TransferWise Brokers
- Wise is not commonly accepted at trading brokers compared to PayPal, Neteller or Skrill
- New customers must sign up for a Wise account before they can use the payment gateway to make trading deposits
- Once a Wise transfer is completed, the company cannot reverse or recall a payment. You will need to contact your broker to request a refund if a deposit has been made in error
How To Deposit Using TransferWise
The first requirement is to find brokers that accept TransferWise deposits. Day traders will then need to register for a Wise account and add funds:
- Sign up for a new account by clicking on the ‘Register’ icon at Wise.com or the Wise app
- Complete the online application form
- Confirm your identity with a government-issued ID such as a passport or driving license
- Add funds to your Wise account from an existing credit/debit card, Apple Pay, Google Pay, or bank wire transfer
The payment process may then vary slightly between TransferWise brokers, but the typical steps you will need to follow require navigating to the broker’s cashier after logging in, selecting ‘Wise’ and then following the instructions.
Below are the specific steps you would need to follow at Fusion Markets, for example:
- Log in to your Wise account via the website or app
- Select ‘Send Money’ on the Wise website or ‘Send’ on the app to create a new payment request
- Add the amount you want to deposit to the trading account (e.g. $500)
- Confirm the payment is a ‘personal transfer’
- Confirm your personal details
- Add Fusion Markets’ bank details
- Review the payment details and insert a reference (e.g. your brokerage account number)
- Review the associated fees displayed on the screen
- Confirm the payment and click ‘Submit’
- Log in to your Fusion Markets account and confirm that the payment has been received
Note, processing times will vary between brokers that accept Wise deposits. Some brokers will also request proof of payment or a transaction receipt.
Is TransferWise Good For Day Trading?
Wise is a globally recognized, legitimate transfer solution. The payment gateway is also a relatively low-cost deposit and withdrawal method for day traders. The option to hold, send and receive money across many international currencies makes it a top contender. Brokers that accept TransferWise deposits also typically process payments quickly.
To make a trading deposit, sign up with one of the best TransferWise brokers.
FAQ
Can I Use TransferWise To Deposit To A Trading Account?
Yes, TransferWise is a safe and secure payment gateway to initiate deposits to live trading accounts. Customers can load a Wise account with credit/debit cards, bank wire transfers, or mobile solutions such as Apple Pay. Day traders can then send money from the Wise website or mobile app to their brokerage account.
What Are The Top Brokers That Accept TransferWise Deposits?
Several global brokers accept Wise deposits and withdrawals, including Oanda, Saxobank, and Moomoo. Use our ranking of the top TransferWise brokers to find a suitable trading firm.
Is It Cheap To Deposit To Wise Brokers?
The majority of brokers that accept Wise deposits do not charge an additional fee. However, traders will be liable for currency conversion charges (if applicable) and a fee to send or receive funds from a Wise account. Although not the cheapest solution, Wise does process currency conversions at the current market price.
How Fast Are Deposits Processed To TransferWise Brokers?
Processing timelines to Wise brokers vary depending on the transfer currency and the recipient’s location. With that said, the top brokers that accept TransferWise deposits complete all transactions within three working days, though some transfers are instant if a local currency is used.
Note, payments can be processed during standard banking hours only.