How to Withdraw Your Prop Firm Profits in Mexico: Complete Guide
Complete guide for Mexican traders: how to withdraw prop firm profits using Deel, SPEI, Wise and more. SAT obligations explained.
If you are a trader in Mexico operating with prop firms, you have probably already asked yourself: how do I withdraw my profits? And more importantly: what options do I have and how do they work?
> IMPORTANT - Tax Obligation: All profits obtained from prop firms constitute income and must be declared to SAT according to current Mexican legislation. The choice of payment method does not modify your tax obligations. This guide is informational about how different payment methods work, not tax advice. Always consult with an accountant.
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## Payment Methods and How They Work
### Methods with Automatic SAT Reporting
These methods automatically report transactions to the Mexican financial system:
| Method | Reporting | Fees | Speed |
|---|---|---|---|
| Direct SPEI (Mexican bank) | ✅ Reports to SAT | Low | Minutes |
| Deel → SPEI | ✅ Reports to SAT | $0 | Minutes |
| PayPal → Mexican bank | ✅ Reports to SAT | ~5-8% | 1-2 days |
| Wise → Mexican bank | ✅ Reports to SAT | ~1% | 1-2 days |
### Methods without Automatic Reporting
These methods do not have an automatic reporting mechanism:
| Method | Reporting | Fees | Speed |
|---|---|---|---|
| Crypto (USDT) | ❌ No automatic reporting | ~1-2% | Minutes |
| Wise (without transferring to MX bank) | ❌ No automatic reporting | ~0.5% | 1-2 days |
| Revolut (keep in USD) | ❌ No automatic reporting | $0 | Instant |
> Remember: Just because a method has no automatic reporting does NOT mean you don't have to declare that income. The tax obligation exists regardless of the payment method.
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## The Best Option: Deel + SPEI
Most prop firms now use Deel as their payment processor, and this is a great advantage for Mexico.
### How Deel works in Mexico:
Deel opened multiple bank accounts in the countries where it operates. When you withdraw from Deel to your bank in Mexico, Deel will use a Mexican bank to avoid international fees and delays. This way you can use the SPEI system which arrives in minutes, like a domestic transfer.
Benefits: - ✅ Transfer as if it were domestic (SPEI) - ✅ Arrives in minutes - ✅ No Deel fees - ✅ Avoids international charges
### Prop firms that use Deel: - Apex Trader Funding - Uprofit - And many more...
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## Withdrawal Options from Deel
Once the money reaches your Deel account, you can withdraw it to:
| Destination | Time | Fee | SAT Reporting |
|---|---|---|---|
| Mexican bank (SPEI) | Minutes | $0 | ✅ Yes |
| PayPal | Fast | Variable | When transferred to bank |
| Wise | 1-2 days | Low | When transferred to bank |
| Crypto | Fast | Network fee | ❌ Not automatic |
| Revolut | 1-2 days | $0 | ❌ Not automatic |
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## Alternative: Global66
If you need another option besides Deel, Global66 gives you access to accounts in dollars and various currencies. If you do KYC they raise the limit to receive to more than 25K monthly.
### Global66 advantages: - USD account - Receives crypto - Transfers to Mexican banks - High limit with KYC
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## Wise in Mexico
Wise does work in Mexico and is regulated by CNBV (National Banking and Securities Commission).
### To receive in Wise: 1. Create a Wise account with Mexican address 2. Get your CLABE 3. Provide the CLABE to the prop firm
### Wise fees: - Exchange rate: The real one (mid-market rate) - No fee to receive - Low fee to convert to MXN
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## Crypto Method: USDT
If you prefer to keep your profits in dollars without going through banks:
### How it works: 1. The prop firm pays you in USDT (or you withdraw from Deel to crypto) 2. You receive in your wallet (exchange like Binance, or your own wallet) 3. You convert P2P when you need pesos
### Advantages: - ✅ Very low fees (~1-2% P2P) - ✅ Instant - ✅ Keep value in dollars - ✅ Convert when you want
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## Tax Obligations in Mexico
### Income Tax (ISR)
| Income Range | ISR Rate |
|---|---|
| Low | From 1.92% |
| High | Up to 35% |
ISR is progressive - you pay a higher percentage as you earn more.
### How to register?
You have two main options:
1. RESICO (Simplified Trust Regime) - For lower income - Reduced rates - Less paperwork
2. General Business Activities Regime - For higher income - You can deduct expenses - More flexibility
### What can you deduct?
- Trading platform fees - Subscriptions to analysis tools - Related training courses
Requirement: You need an invoice (CFDI) to deduct.
### Loss compensation
If one year you lose $30,000 MXN and the next you earn $50,000 MXN, you only pay taxes on $20,000 MXN.
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## Summary: Method Comparison
| Method | Fees | Speed | SAT Reporting |
|---|---|---|---|
| Deel → SPEI | $0 | ⚡ Minutes | ✅ Reports automatically |
| Wise → Mexican bank | ~1% | 1-2 days | ✅ Reports automatically |
| Global66 | Medium | Medium | ✅ Reports automatically |
| Crypto USDT | ~1-2% | ⚡ Minutes | ❌ No automatic reporting |
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## Legal Disclaimer
This guide is exclusively informational and does not constitute tax, legal, or financial advice.
- All profits must be declared to SAT according to Mexican legislation - The choice of payment method does not exempt you from tax obligations - Tax laws can change; verify current regulations - Always consult with a specialized accountant - Each personal situation is different and requires individual analysis