Articles

Why Prop Firms are using Wise?

Rocket 21, Funded Engineer, and The Varasity Traders are some of the prop firms that are using Wise as their payouts provider.

Prop firms are using Wise as their payouts provider for a number of reasons, including:

  • Low fees: Wise is known for its low fees, which can be a significant saving for prop firms, especially those that process a large volume of payouts.
  • Fast transfers: Wise transfers are typically very fast, with most payouts received within 24 hours. This is important for prop firms, as they want to ensure that their traders receive their payouts as quickly as possible.
  • Global reach: Wise can send money to over 200 countries and territories, which is important for prop firms with traders all over the world.
  • Security: Wise is a secure and reliable way to send money, with multiple security measures in place to protect users' funds.
  • Ease of use: Wise is easy to use for both prop firms and their traders. The platform is intuitive and user-friendly, and customer support is available 24/7.

In addition to these reasons, Wise is also becoming increasingly popular as a payouts provider for prop firms because it is a more flexible and scalable solution than traditional payment methods such as wire transfers. With Wise, prop firms can easily add new payout currencies and countries, and they can also adjust their payout limits as needed.

Overall, Wise is a good choice for prop firms that are looking for a low-cost, fast, secure, and easy-to-use payouts provider.

Author : Prop Connect
Publish Date : 30 September 2023

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