I’ve been trading axi and pepperstone for about 8 months now and I’m trying to figure out which one I should really stick with long term. Both have decent rebates through GlobeGain, but what I actually care about is what happens when the market moves fast.
During the last fed announcement, I saw spreads widen on both platforms but the execution quality felt different. On axi, my orders filled but with noticeable slippage. Pepperstone seemed to handle the volatility more smoothly, though the spreads were wider.
I’ve calculated my costs both ways including the rebates, and on paper they’re pretty similar. But during those high volatility moments is where I’m losing money, not just on spreads but on how the orders actually fill.
I want to know from people actually trading both: when things get crazy in the market, which broker do you feel more confident in? Does one platform actually hold up better than the other, or am I just imagining things?
Axi slips more during news. Pepperstone holds better.
Both take wider spreads. Execution quality differs. Test both.
The spread width matters less than execution quality during volatility. What you experienced with axi slippage is common when order flow gets heavy. Pepperstone’s infrastructure handles news spikes better because they route through ECN liquidity during peak times.
Your real cost isn’t just spread plus rebate. It’s spread plus commission plus slippage minus rebate. During fed announcements, that slippage can add 2-3 pips to your actual cost per trade.
Calculate your average slippage over 50 trades on each broker during volatile periods. That number often matters more than the quoted spread difference.
I had the same experience with both brokers. Pepperstone felt more stable during news events, but honestly it depends on what time of day you trade.
If you’re trading during London or New York open, Pepperstone handles it better. If you’re catching news events at odd hours, both platforms can struggle.
My advice is to stick with whichever broker you’re more comfortable with overall and just avoid trading right at the announcement. The spreads are going to widen no matter what.
I’ve tested both extensively during news events. Here’s what I found.
Axi has tighter base spreads most of the time, which looks good on paper. But when volatility spikes, they widen significantly and the execution quality suffers. You’ll see 5-8 pip widening on major pairs.
Pepperstone’s spreads go wider too, but they have better execution during those moments. Your orders fill closer to where you expect, not 1-2 pips slipped against you.
After rebates, Pepperstone costs me roughly the same per trade. The difference is I lose less money to ugly fills during news. For my trading style, that’s worth it.