I’ve been reading a lot about how spreads widen during high-impact economic news, and I’m wondering specifically about HFM’s behavior in those moments. It’s one thing to see their spreads quoted on their website when the market is calm. It’s another thing entirely to actually try to enter a trade 30 seconds after a major data release hits.
I’ve had some experience with other brokers where the quoted spread is almost meaningless during news events because everything explodes by the time your order executes. I want to make sure HFM isn’t going to do that to me consistently.
The reason this matters for my planning is that rebates only help if the underlying broker costs stay reasonable. If HFM’s spreads jump from 1 pip to 4 pips during FOMC announcements, the rebate barely scratches the surface of the damage.
So I’m curious: have you actually tested HFM’s execution during major news events? What do the spreads actually look like in those moments? And if you’re using rebates to offset costs, does the rebate calculation even make sense once you factor in news event slippage?
I’d like to hear real experiences, not best-case scenarios.
All brokers widen during news. HFM is average.
Avoid trading during major releases if spreads matter to you.
This is the right question to ask. Spreads during news events separate good brokers from bad ones.
HFM’s behavior during major news is middle-of-the-road. On a typical FOMC release, EUR/USD spreads widen from 0.8-1.0 pips to about 2.5-3.5 pips for roughly 2-5 minutes. That’s not terrible, but it’s not tight either. Some ECN brokers stay below 2 pips even during news. Some bucket shops blow out to 6+ pips.
The execution speed matters more than the absolute spread during news. HFM processes orders reasonably fast - you won’t get ghosted or rejected outright - but you might get slipped 0.5 pips on your fill compared to the quoted spread at the moment you clicked.
If you’re planning to trade around news events, don’t assume rebates make up for wider spreads. A 0.5 pip rebate doesn’t help much when the spread goes from 1 pip to 3 pips. Most traders with news event strategies either trade on ECN accounts with tighter structure or they avoid news windows entirely and trade the 1-2 hour aftermath instead.
Fact is: during 30 seconds around major data releases, no retail broker is going to give you institutional-quality spreads. Accept that going in.
I’ve been trading HFM through a few news cycles now. The spreads do widen like you’d expect, but it’s not unpredictable. I’ve actually learned to use it - I place smaller positions right before major news and then don’t add to them until the volatility settles.
The important thing I found is that HFM doesn’t ghost you. Your order executes even if it’s slipped a bit. That’s more reliable than a few other brokers I tested where orders just don’t fill during chaos.
For my trading style, which is mostly position-based rather than news-event focused, it hasn’t been an issue. But if you’re specifically trying to scalp or daytrade around news events, you’d probably want an ECN account elsewhere.
I checked their execution during the last FOMC and a couple jobs reports. Spreads definitely widen but not dramatically compared to what I’ve seen with other platforms. I’d say they’re honest brokers - the spreads match what you’d expect given market conditions.
The rebates still help overall, even during news events, because you’re getting most of your rebate from your calm-market trading anyway. News events are a smaller percentage of total volume for most traders.
HFM spreads widen during news like any broker. Not the worst but not the best either.
If you’re nervous about news event spreads, just avoid trading during those times.
One thing worth tracking: HFM’s weekend news behavior. Sometimes they close their market Friday afternoon right before high-impact Sunday evening news (like Brexit-related releases or China data). That’s actually good for you because you don’t get caught holding through weekend gaps.
But if you’re planning Monday trades around the aftermath of weekend news, you might get pre-market wideness on Monday open that you weren’t expecting. I’ve seen spreads at 3-4 pips on Monday Asia open sometimes. Not HFM-specific but worth knowing.