This profile is currently being reviewed by the BestForex.io editorial team. Some information may be incomplete or subject to change.
Wise Business Review
Wise Business is a multi currency account for companies, run by an FCA regulated e money firm, not a forex or CFD broker, built around the real mid market exchange rate.
Min Deposit
N/A
Spreads From
No markup on the mid market rate; a variable fee near 0.3% to 2% plus a small fixed charge
Max Leverage
Not applicable, this is a currency account and payments service, not leveraged trading
Platforms
Wise web app, Wise mobile app
Pros
- Uses the real mid market exchange rate with no hidden markup
- Regulated by the FCA in the UK as an authorised e money firm
- Shows the exact fee and rate upfront before every transfer
- Supports batch payouts and multi currency accounts for teams
Cons
- Paid a 4.2 million dollar US AML fine to state regulators in 2025
- OCC rejected its US trust bank charter application in 2026
- Some business users report sudden account freezes during checks
- Not a forex or CFD broker, so no leveraged trading account exists
Wise Business launched in 2017 as the company account arm of Wise, formerly TransferWise, founded in 2011 by Kristo Kaarmann and Taavet Hinrikus in London. It gives a company multi currency accounts, batch payouts, and a debit card, built around the real mid market exchange rate with no hidden markup.
This is not a forex or CFD broker, so there is no leverage or trading account. UK customers use Wise Payments Limited, an FCA e money firm. Fees mix a small fixed charge with a variable rate near 0.3 to 2 percent, shown upfront before every transfer. Parent Wise plc moved its main stock listing from London to Nasdaq in May 2026, keeping a secondary London listing.
In July 2025, Wise US paid a 4.2 million dollar fine to New York and five other states over weak anti money laundering controls. In July 2026, the OCC rejected its US trust bank charter application, citing the same concerns. Some business users also report sudden account freezes during routine checks.
Max Leverage
Not applicable, this is a currency account and payments service, not leveraged trading
Spreads From
No markup on the mid market rate; a variable fee near 0.3% to 2% plus a small fixed charge
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
