Research note

How to choose a forex broker without chasing bonus banners

August 19, 2026 · Peak Pips desk

Start with a licence that covers you, then cost, platform, and withdrawals. A pretty landing page is not a reason to deposit.

  • Education, not a signal
  • Check the register yourself
  • Leverage can wipe a deposit

Most “best broker” pages start with a prize and end with a register link. Reverse that. Open the regulator register first, then look at costs, then try a demo, then — if the entity still matches — consider a small test deposit.

1. Confirm the legal entity

A brand name is not a licence. The contract you sign names a company. Search that company on the public register of the regulator that actually covers you. If you cannot find it, stop.

Same logo, different country, different entity. An offshore PDF does not replace a licence in your jurisdiction.

2. Add the costs the banner skips

“From 0.0 pips” is a floor on some raw accounts. Your fill is usually wider after commission, and swaps still apply if you hold overnight. Compare spread plus commission plus typical swap — not the homepage headline.

3. Check how money comes back out

Deposits are easy by design. Withdrawals are the test: method, fee, and how long people actually wait. If the site is vague here, treat that as a finding, not a footnote.

4. Open two demos

One demo tells you the ticket layout. Two demos tell you which platform you will actually click under pressure. A demo still cannot show you live slippage or whether a withdrawal lands.

Peak Pips publishes a shortlist and review notes as a starting point — not a promise of results. Leveraged CFDs can wipe a deposit even at a licensed firm.

This is editorial. It is not advice, a broker pitch, or a call to deposit. Confirm licences and costs on the firm’s own site.