This is an archived reading from Sep 19, 2026. It is not the current one, and PIPWISE may have changed these documents since.Read the current report

Wikilix
Contract reading

What PIPWISE legally published, but does not want you to read

Every clause below was published by PIPWISE itself, on its own website, on the day we read it. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. This is what they said on .

Contracting entity: PIPWISE LTD

profit voidingsole discretionunilateral amendmentdeemed acceptanceforum waiverleverageoffshorewithdrawalsaccount limitsaccount linking

PIPWISE publishes three legal documents, with no fee schedule, no bonus terms and no withdrawal terms among them. Profit on trades held under two minutes cannot be withdrawn, while losses on those same trades are charged in full. Four clauses let PIPWISE cancel profits it judges unfair. One caps everything you could recover from it at the fees you paid. The company you contract with moved from Georgia to the Comoros with no announcement.

Back to PIPWISE

Contract risk

Money at risk
8.2/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
7
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
17
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
3
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
1

How the 17 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical7
Warning7
Notice3

section 94 of 94is where the deepest clause sits: the very end of the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

2 of these 3 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical2Profit at risk. Jump to the clause this comes from.Profit on trades under two minutes cannot be withdrawnCritical3Time to complain. Jump to the clause this comes from.You are bound by three documents PIPWISE does not publish$5000Account limit. Jump to the clause this comes from.Leverage falls as your balance grows, objections refused

What the documents say

17 clauses worth knowing about, worst first, each quoted from PIPWISE's own files

01

Close a trade less than two minutes after opening it and you cannot withdraw the profit. If that same trade loses money, PIPWISE takes the loss from your balance in full.

Why this matters

A fast market can close your position in seconds. You carry every loss from those trades and cannot cash out a single win from them.

Exhibit 1CriticalRarely seen2

Profits generated from such trades will not be withdrawable, while any losses incurred will be fully calculated and deducted from the account balance.
Clause Short-Term Trading Rule (Less than Two Minutes) in Client Agreement & Risk Disclosure
Read from the broker's site on Open the reference

Where it sits: section 32 of 94 in the Client Agreement & Risk Disclosure, 34% of the way through.

What it costsA $1,000 profit on a 90 second trade stays in the account and cannot be withdrawn. A $1,000 loss on a 90 second trade comes out of the balance in full.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must act honestly and fairly in the client's interest, and must say clearly when a trade result can be withheld. This rule holds the profit and enforces the loss on the same trade.

PIPWISE is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingBrokers commonly ban short holding times or charge for them. Keeping the loss while voiding the gain on the very same trade is one way: the client bears both outcomes.

  • Worse together with Exhibit 12The agreement names money you cannot withdraw while setting no rules at all for the withdrawals you can make.
02

PIPWISE can remove your profits, cancel your trades and suspend your account without telling you first. It decides on its own whether your trading was unauthorised, and its list of what counts is open ended.

Why this matters

You can trade inside the rules as you understand them and still lose the profit. PIPWISE judges this alone, and the contract gives you no test to hold it to.

Exhibit 2CriticalHarder than usual

If the Company determines that the Client has engaged in unauthorized trading practices, including but not limited to exploitation of system bugs, illegal arbitrage, price manipulation, or any activity that results in unfair profit, the Company reserves the right to remove the obtained profits, cancel trades, and suspend the Client’s trading account without prior notice.
Clause Account Closure Due to Abuse in Client Agreement & Risk Disclosure
Read from the broker's site on Open the reference

Where it sits: section 18 of 94 in the Client Agreement & Risk Disclosure, near the start.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must state the grounds on which a transaction can be cancelled and must give the client a route to challenge it. This clause names no closed list of grounds and no appeal.

PIPWISE is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 6PIPWISE can strip a profit on its own judgement, and the agreement names no court or complaints body to take that to.
03

PIPWISE contracted with clients as a Georgian company, and its privacy policy also claimed UK registration. Today's documents name a company in the Comoros, with a different company type and a different registration number.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Why this matters

The company holding your money changed country. Nothing in the documents tells existing clients this happened, or what became of the Georgian entity they signed with.

Exhibit 13CriticalRarely seenNew

PIPWISE LTD is a financial brokerage registered in Bonovo Road, Fomboni, Island of Mohéli, Comoros Union and operates this Website www.pipwise.com.
Clause Who We Are in Privacy Policy
Read from the broker's site on Open the reference

Where it sits: section 2 of 27 in the Privacy Policy, near the start.

Our readingBrokers do restructure. Doing it by replacing the company name, country and registration number inside a privacy policy, with no notice clause and no transfer wording anywhere, leaves the client unable to tell who now holds the account.

  • Worse together with Exhibit 14The entity moved offshore and no document names a regulator in either the old country or the new one.
04

PIPWISE opens accounts through a Persian form that shows no contract, no tick box and no link to any terms. Its client agreement exists in English only.

Why this matters

You can finish signing up without meeting a single line of the contract. The English agreement then records that you read it, understood it and accepted it.

Exhibit 17CriticalHarder than usual

By submitting this form, you hereby consent to be fully and legally bound by the provisions of this Agreement for all purposes.
Clause Electronic Agreement Acceptance in Client Agreement & Risk Disclosure
Read from the broker's site on Open the reference
Our own capture of my.pipwise.com, taken on Sep 19, 2026The claim, on Persian account registration form on the PIPWISE client portal. The form asks for name, surname, nationality, country code, phone, email, password and a referral code, and shows noThis capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
  • Worse together with Exhibit 7A signup that shows no contract leads to a contract that binds you to three further documents nobody can read.
05

If PIPWISE causes you a loss through its own act or omission, what you can recover is capped at the fees you have paid it. Your deposit sits outside that cap.

Why this matters

Lose your balance through a failure on PIPWISE's side and the money you can claim back stops at the fees you handed over. You also agree to cover PIPWISE's own legal costs if it is sued over your use of the platform.

Exhibit 5CriticalHarder than usual

Any liability resulting from any act or omission on our part shall be limited to the sum of the user fees you have paid to utilize our services.
Clause Electronic Trading Terms in Client Agreement & Risk Disclosure
Read from the broker's site on Open the reference

Buried at section 93 of 94 in the Client Agreement & Risk Disclosure, 99% of the way through.

What it costsA client who paid $200 in fees and lost a $10,000 balance can recover up to $200 under this clause.

Our readingLiability caps are ordinary. Setting the ceiling at fees paid, rather than at the client's loss or the account balance, makes the remedy far smaller than the exposure.

  • Worse together with Exhibit 6The cap limits what a claim is worth, and the agreement names no forum in which to bring one.
06

The agreement says it forms one document together with a Disclosure Statement, a Contract Information Guide and a Client Acknowledgement. PIPWISE publishes none of those three.

Why this matters

You are recorded as having read and accepted terms nobody outside PIPWISE has seen. The contract adds that your protest does not change that.

Exhibit 7CriticalRarely seen3

For the purposes of this agreement, the Client and the Company acknowledge and agree that the Client Agreement, Disclosure Statement, Contract Information Guide, and Client Acknowledgement are all part of the same document.
Clause Agreement, item 1 in Client Agreement & Risk Disclosure
Read from the broker's site on Open the reference

Buried at section 77 of 94 in the Client Agreement & Risk Disclosure, 82% of the way through.

Our readingAgreements often incorporate other documents by reference, but usually publish them. Here the three incorporated documents appear nowhere, so the binding text cannot be read in full by anyone signing it.

  • Worse together with Exhibit 17The signup flow shows no contract at all, and the contract it does not show binds you to three further documents.

Four clauses let PIPWISE take back a profit you have already made

Trades held under two minutes produce profit you cannot withdraw at PIPWISE, while losses on those same trades are charged to you in full. PIPWISE also decides alone what counts as unfair profit, and can remove it without telling you first. A fourth clause treats a negative balance as your breach of contract.

Earned money2 clauses flagged

Opening opposite buy and sell positions of similar size across related accounts counts as a violation at PIPWISE. Accounts count as related when they share an introducing broker, even if the owners have never met.

In plain words

Liquidity providers are outside banks and brokers.

Why this matters

PIPWISE can cancel the trades, strip the profits and suspend every account in the group. Somebody else's position can cost you yours.

Exhibit 3CriticalHarder than usual

Opening opposite positions (Buy and Sell) with the same or similar lot sizes, either simultaneously or within a short timeframe, across two or more related accounts, whether owned by the same individual, linked to a common IB, or coordinated between multiple accounts—will be considered a violation.
Clause Prohibited Cross-Hedging Policy in Client Agreement & Risk Disclosure
Read from the broker's site on Open the reference

Where it sits: section 29 of 94 in the Client Agreement & Risk Disclosure, 31% of the way through.

  • Worse together with Exhibit 16The contract lets you open five trading accounts, then treats positions across them as a coordinated violation.

PIPWISE calls a negative balance from trading on full margin into a market close a fundamental breach by you, even where you lost money on it. It can cancel profits from those trades without notice.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

You carry the debt if your account falls below zero. PIPWISE offers no negative balance protection, which is the promise that a broker writes off a below zero balance instead of chasing you for it.

Exhibit 4WarningHarder than usual

Such actions, even if they result in a loss to the Client, constitute a fundamental breach of the contract due to the creation of a negative balance and imposition of losses on the Broker.
Clause Prohibition of Leverage Abuse in Client Agreement & Risk Disclosure
Read from the broker's site on Open the reference

Where it sits: section 37 of 94 in the Client Agreement & Risk Disclosure, 39% of the way through.

  • Worse together with Exhibit 2Two separate clauses reach the same result, so a profit can be cancelled under either heading.

PIPWISE sets its own fees and publishes no schedule

PIPWISE decides its commissions, fees and taxes itself and changes them periodically, under one paragraph at position 54 of 94 in the client agreement. No fee schedule is published with its legal documents, so nothing tells you what a trade or a transfer costs before you make it.

Cost disclosure1 clause flagged

PIPWISE decides its commissions, fees, taxes and other costs itself, and changes them periodically. No fee schedule is published alongside its legal documents.

Why this matters

You cannot check today what a trade or a transfer will cost you. The contract promises the rates in writing and never says when you get them.

Exhibit 8WarningHarder than usual

Commissions, fees, taxes, and other costs associated with dealing in foreign exchange on behalf of the client must be paid to the company at rates that are periodically decided by the company and communicated to the client in writing.
Clause Commissions and fees in Client Agreement & Risk Disclosure
Read from the broker's site on Open the reference

Where it sits: section 54 of 94 in the Client Agreement & Risk Disclosure, 57% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must disclose costs and charges to a retail client before they trade. This contract sets the rates after the fact and publishes no schedule.

PIPWISE is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

PIPWISE promises nothing about how you get your money back

PIPWISE's agreement contains no withdrawal terms at all: no timescale, no fee, no method and no stated grounds for refusal. The single mention of withdrawal in the whole document is the rule making short term profits non withdrawable. It names no bank holding client funds and no compensation scheme.

Getting paid1 clause flagged

Nothing in the PIPWISE agreement says how long a withdrawal takes, what it costs, which methods you can use, or on what grounds it can be refused. Withdrawal appears once, to say some profits cannot be withdrawn.

Why this matters

You have no promised timescale for getting your money out and no stated grounds you could hold PIPWISE to. The contract also names no bank and no compensation scheme for your deposit.

Exhibit 12WarningRarely seen

Both the Company and the Client agree that all funds and assets deposited with or acquired by the company on the client's behalf will be handled separately by the company in line with the client funds.
Clause Segregation of client funds and property in Client Agreement & Risk Disclosure
Read from the broker's site on Open the reference

Buried at section 71 of 94 in the Client Agreement & Risk Disclosure, 76% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must hold client money in segregated accounts with named banks and reconcile it, and must set out how a client gets funds back. This agreement says funds are handled separately and names no bank, no timescale and no process.

PIPWISE is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingA withdrawal clause covering timing, methods and refusal grounds is in almost every retail trading agreement. This one has none, so there is no promise to enforce.

Leverage drops as you deposit more, and objections are refused

PIPWISE cuts leverage from 1:500 to 1:100 as your balance climbs past $5,000, and states that objections will not be accepted. It allows five trading accounts, can refuse you more at its own discretion, and can liquidate your positions while disclaiming all responsibility for the result.

House rules3 clauses flagged

PIPWISE cuts your leverage as your balance rises, from 1:500 under $100 down to 1:100 above $5,000. The agreement says objections to this will not be accepted.

Why this matters

Adding money to your account reduces what each dollar can trade. PIPWISE can change these bands later and expects you to go and find the update yourself.

Exhibit 9WarningStandard wording$5000

To protect clients' capital and prevent any potential misuse, PIPWISE implements a dynamic leverage system based on account balance.
Clause Dynamic Leverage in the Client Agreement in Client Agreement & Risk Disclosure
Read from the broker's site on Open the reference

Buried at section 58 of 94 in the Client Agreement & Risk Disclosure, 62% of the way through.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Less than $100Maximum leverage is 1:500.Dynamic Leverage in the Client Agreement
$100 to $200Maximum leverage drops to 1:400.Dynamic Leverage in the Client Agreement
$200 to $1,000Maximum leverage drops to 1:300.Dynamic Leverage in the Client Agreement
$1,000 to $5,000Maximum leverage drops to 1:200.Dynamic Leverage in the Client Agreement
More than $5,000Maximum leverage drops to 1:100.Dynamic Leverage in the Client Agreement

If you owe PIPWISE money, it can close your contracts and sell your collateral, in part or in whole, at its own discretion. It then disclaims all responsibility to you for doing so.

Why this matters

Your open positions can be liquidated on PIPWISE's own view of what you owe. The same sentence removes its answerability for how that turns out.

Exhibit 11WarningHarder than usual

The Company reserves the right to close one or more Contracts and/or liquidate, sell, or otherwise deal with Approved Securities, Collateral, or other cover of the Client, in part or in whole, at the Company's sole discretion if the Client fails to pay or provide security for amounts payable to the Company. In this regard, the Company disclaims all obligation and responsibility to the Client.
Clause Default in Client Agreement & Risk Disclosure
Read from the broker's site on Open the reference

Where it sits: section 52 of 94 in the Client Agreement & Risk Disclosure, 55% of the way through.

PIPWISE allows you a single Our PIPWISE registration and a maximum of five trading accounts. It can refuse you new accounts at its own discretion once you have opened a genuine one.

Why this matters

The five accounts PIPWISE allows are the same accounts its cross hedging rule can treat as one group. Holding opposite positions across them is a violation.

Exhibit 16NoticeStandard wording5

The Client has the right to register only one "My PIPWISE".
Clause General Provisions in Client Agreement & Risk Disclosure
Read from the broker's site on Open the reference

Where it sits: section 5 of 94 in the Client Agreement & Risk Disclosure, near the start.

PIPWISE moved offshore and named no court to take a dispute to

PIPWISE's client agreement names no governing law, no court and no complaints process, and tells you your only remedy is inside the agreement itself. The company you contract with is registered in the Comoros today, where earlier copies of the same documents named Tbilisi, Georgia, with a different registration number.

Who holds your money1 clause flagged

The agreement tells you that your only remedy sits inside it. It then names no governing law, no court, no regulator, and no process or deadline for making a complaint.

Why this matters

You have nowhere named to take a dispute. If PIPWISE says no, the contract points you back at PIPWISE.

Exhibit 6WarningRarely seen

Your exclusive recourse is set forth in this Agreement.
Clause Electronic Trading Terms in Client Agreement & Risk Disclosure
Read from the broker's site on Open the reference

Buried at section 94 of 94 in the Client Agreement & Risk Disclosure, 100% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give retail clients a written complaints procedure and access to an independent ombudsman. This agreement names neither, and no court or governing law either.

PIPWISE is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingNearly every retail trading agreement names a governing law and a court, even offshore ones. This document ends without either, and without a complaints clause.

Deleting your account erases the trading history you might need

PIPWISE promises that account deletion permanently erases your personal information, financial data and trading history from its systems. Its other data document says the same rights give way to anti money laundering record keeping, so the two documents do not agree on whether the data goes.

Your records1 clause flagged

PIPWISE promises that deleting your account permanently erases your personal information, financial data and trading history. Its other data document says those rights give way to anti money laundering record keeping.

Why this matters

Deleting your account destroys the record you would need to prove what happened on it. The two documents do not agree on whether the data really goes.

Exhibit 15WarningHarder than usual

Upon account deletion, all personal information, financial data, trading history, and any other data linked to your account will be permanently erased from our systems.
Clause The clients’ rights are as following, Right to Delete in Privacy Policy
Read from the broker's site on Open the reference

Buried at section 24 of 27 in the Privacy Policy, 89% of the way through.

  • Worse together with Exhibit 6Your evidence can be erased on request while the contract names no body that would have heard the complaint.

PIPWISE may be the party on the other side of your trade

PIPWISE states in one sentence that it may take the opposing side of your trade, for itself or for another customer, and that its directors and employees may trade on their own accounts. It publishes no conflict of interest policy, so that sentence is the whole disclosure.

The other side1 clause flagged

PIPWISE can take the opposing side of your trade, acting for itself or for another customer. Its directors, partners and employees can also trade on their own accounts.

Why this matters

When you lose on a trade PIPWISE took the other side of, PIPWISE gains. The agreement states this plainly, and no conflict of interest policy is published to sit beside it.

Exhibit 10NoticeStandard wording

The customer understands that the Company may occasionally take the opposing side in a foreign exchange, whether acting for itself or another customer.
Clause The Company taking opposite position in Client Agreement & Risk Disclosure
Read from the broker's site on Open the reference

Where it sits: section 45 of 94 in the Client Agreement & Risk Disclosure, 48% of the way through.

No regulator, licence number or compensation scheme is named

Nothing in the three documents PIPWISE publishes names a regulator, a licence number or a compensation scheme. It describes itself as a financial brokerage registered in the Comoros, and offers a privacy policy where an AML and KYC policy would sit. For the licensing picture, read the scam investigation for this broker.

Supervision1 clause flagged

PIPWISE calls itself a financial brokerage registered in the Comoros. None of its documents names a regulator, a licence number or a compensation scheme, and it publishes no AML or KYC policy.

Why this matters

No supervisor stands behind this account. If PIPWISE keeps your money, its own documents name no authority you could take that to.

Exhibit 14NoticeHarder than usual

PIPWISE LTD is a financial brokerage registered in Bonovo Road, Fomboni, Island of Mohéli, Comoros Union and operates this Website www.pipwise.com.
Clause Who We Are in Privacy Policy
Read from the broker's site on Open the reference

Where it sits: section 2 of 27 in the Privacy Policy, near the start.

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

PIPWISE opens accounts through a Persian form showing no contract, while its English only agreement records that the client has read and accepted it.

Said in public, in Persian

ثبت نام به عنوان تریدر

Word for word in English: Register as a trader

Persian account registration form on the PIPWISE client portal. The form asks for name, surname, nationality, country code, phone, email, password and a referral code, and shows no contract,

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of my.pipwise.com

In the contract · clause Electronic Agreement Acceptance

The terms and conditions outlined in this Electronic Agreement have been read, understood, and accepted by you

What changed quietly

This is our first reading of PIPWISE, so there is nothing to compare it against.

  • REWRITTENClause Who We Are · 08/03/2024 to 01/04/2026

    The company a client deals with changed from a Georgian and UK registered LLC to a Comoros registered LTD.

    PIPWISE LTD is a financial brokerage registered in Bonovo Road, Fomboni, Island of Mohéli, Comoros Union and operates this Website www.pipwise.com.

  • REWRITTENClause Opening paragraph · 2025-05-04 (archived) to 2026-04

    The registered address and the company registration number both changed, while the promise of GDPR rights to EU and EEA clients stayed word for word the same.

    This document outlines the principal features of the Global Data Protection Regulation (GDPR) and elucidates the entitlements and responsibilities of EU/EEA clients and the Pipwise LTD., Bonovo Road, Fomboni, Island of Mohéli, Comoros Union, (hereinafter: the "Company"). Registration number: HT00524055.

The documents this reading is based on

3 files, all published by PIPWISE. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording PIPWISE publishes.

How this reading was done

Every clause above was read out of a document PIPWISE publishes itself

This reading was published on .

Documents
3 of 3downloaded from the broker's site, and 3 read in full
Pages opened
22pages walked to find those documents, footer links included
Older copies
2earlier versions downloaded
Marketing pages
9public pages set against what the contract says
Languages
EN vs FAthe language it advertises in, against the language it contracts in
Position measured
16clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

PIPWISE LTD

A client contracts with PIPWISE LTD, which the client agreement and both data documents place at Bonovo Road, Fomboni, Island of Mohéli, Comoros Union, under registration number HT00524055. Earlier copies of those same two documents named Pipwise LLC in Tbilisi, Georgia, under registration number 1406348288, and described the firm as registered in the United Kingdom and Georgia. No document names a regulator, a licence number or a compensation scheme.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

PIPWISE prints its leverage bands as a table with the exact balance thresholds, where many brokers leave that to a support article. It admits in plain words that it may take the other side of your trade. The risk disclosure is specific about margin calls, stop loss orders that fail, and positions that cannot be closed in a fast market. Its prohibited trading methods are itemised by name rather than hidden behind a general ban on abusive trading.

PIPWISE publishes three legal documents. We read all three in full, plus two earlier copies from 2024 and 2025. We could not read its marketing pages this time, so nothing on its deposit, withdrawal, bonus or introducing broker pages is set against the contract here. PIPWISE advertises a first deposit bonus and publishes no bonus terms, so the conditions on that bonus are not covered. The Disclosure Statement, Contract Information Guide and Client Acknowledgement that the agreement makes binding are not published, so nobody outside PIPWISE has read them. The claim quoted here comes from the registration page we opened ourselves.

How to check any of this yourself

Every quote above links to the PIPWISE file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document PIPWISE publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge PIPWISE on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Sep 19, 2026.

If you represent PIPWISE and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on PIPWISE. Whether its licence is real and current is a separate check on the broker profile.

Back to the PIPWISE profile