How we are paid

The short version

The Pip Report is free to read. It is paid for by affiliate commission from some of the brokers we review and, later, by clearly labelled advertising. Neither changes a score, a ranking, a verdict or what we write.

Affiliate links

"Open account" buttons go through our own /go/ redirect, which counts the click and sends you to the broker. If you then open and fund an account, the broker may pay us. Commission models vary by broker and country:

• CPA: a one-off fee when a referred client opens and funds an account and meets the broker's activity criteria.
• Revenue share: a percentage of the revenue the broker earns from a referred client's trading.
• Hybrid: a mix of the two.

You do not pay anything extra and you get the same terms as any other client. Links that can earn us money are marked with rel="sponsored".

What it does not change

• The score, the position in any table, the pros and cons, or the verdict.
• Which brokers we review. Brokers that do not pay us are reviewed with the same method and appear in the same tables.
• What we say about risk. Every "Open account" button sits next to that provider's published retail loss figure.

What brokers receive from us

The click itself. Our redirect may add a page reference (for example "subid=brokers-pepperstone") so the broker can tell us which page a sign-up came from. We do not send brokers your name, email or any other personal data. What you give the broker when you sign up is between you and the broker. Details: Privacy policy.

No incentives to readers

We do not offer, pass on or promote cash incentives, deposit offers, trading credits or similar promotions. If a broker runs one, it plays no part in our review.

Advertising

Paid placements, if we add them, will be labelled "Advertisement" and kept separate from editorial content. Advertisers have no input into reviews, guides or recaps.

Our agreements

We have, or will have, a written agreement with each broker we are paid by. Some brokers require us to submit marketing content for approval before publication; that approval covers regulatory wording only, never our scores or opinions.