About Pipwarden.
An independent desk that reviews forex brokers from the inside of a funded account.
Pipwarden exists because most broker comparisons are written from a broker's own marketing page. A headline spread of 0.0 pips tells you little until you add the commission, the swap on a position held overnight and the fee that appears when you ask for your money back. We review brokers the slow way: we open a live account, fund it, trade it and withdraw from it, and we write down what the statement says.
What we cover
Retail forex and CFD brokers: raw-spread and ECN accounts, large multi-asset brokers, brokers for first-time traders, US-regulated firms, copy and social trading platforms, UK spread betting and internationally focused brokers that offer higher leverage through offshore entities. Each review names the legal entity and licence that applies to the account we tested.
How we stay independent
Brokers cannot pay for a review, a score or a position in the ranking, and they do not see a review before it is published. Scores follow the method on How we review, and when a broker changes its fees or terms we re-test and note the date of the change in the review.
What we are not
We are not financial advisers and nothing here is a personal recommendation. Leveraged trading loses most retail traders money. Our job is to show what a broker actually costs and how it behaves, so you can make your own decision with the facts in front of you.