About PipTax
The number nobody shows you
Every trade you place carries a price tag beyond the market itself: the spread you cross, the commission you pay, the swap you carry overnight. Added together, that is your PipTax — the true all-in cost your broker charges you per trade. It is rarely shown in one place, and it quietly decides more retail outcomes than most traders realise.
Why we built it
PipTax was built by a trader. Our founder spent twenty years in retail FX and learned the expensive way that execution cost — not entries, not indicators — was where much of the account went. Strategies changed; the costs never stopped. When they finally totalled what spreads, commissions and swaps had actually taken over the years, the number was larger than any single losing streak. PipTax exists to make that invisible number visible — before it is paid, not after.
What PipTax does today
Our calculator models per-trade and per-month costs across major retail FX and CFD brokers, using figures from each broker's published specifications. These are indicative sample figures, clearly labelled as such, so you can compare like with like. Every broker listing states the legal entity that accepts UK clients, its regulator, the platforms it actually offers and — where the broker publishes it — the percentage of retail investor accounts that lose money trading CFDs with that provider. Live-measured broker feeds are in development and will replace modelled data as they come online.
What comes next
Soon you will be able to upload your own MT4/MT5 statement for a personal cost audit: what you actually paid, trade by trade, and what your true P/L looks like once costs are stripped out. The early-access list is open now.
The walls we won't move
Four rules define PipTax. They are not marketing; they are the product.
- Rankings are computed from cost data only. We earn disclosed affiliate commissions from some brokers, and those relationships can never affect a ranking. Ever.
- We never give trading advice. Costs and mechanics only — no buy or sell calls, no investment recommendations.
- No profit promises. Trading CFDs is high-risk and most retail accounts lose money. Lower costs mean you keep more of whatever result you get; they do not create profits or reduce market risk.
- Every recommendation carries a disclosure line. You will always know how we are paid.
Who we are
PipTax is operated by Evander Labs. We are a comparison and education service: we measure and explain trading costs, and nothing else. The financial promotions on this site are approved for the purposes of section 21 of the Financial Services and Markets Act 2000 by [approver firm name], which is authorised and regulated by the Financial Conduct Authority (FRN [FRN]). If you have a question, a correction, or a broker you would like to see covered, write to us at hello@piptax.com. We read everything.
Risk warning: trading CFDs and FX carries a high level of risk, and most retail investor accounts lose money. PipTax provides cost comparison and education only, and does not provide investment advice.