I’m concerned about what happens to my trading costs when big news hits. I know spreads widen during economic announcements and volatile events, but I’m not sure which broker actually handles it better.
From what I’ve read, both Axi and Pepperstone say they offer good execution during news, but I want to know what actually happens in practice. Do their spreads blow up to multiple pips? How quickly do they recover? And does the GlobeGain rebate still work the same way or does volatility affect that?
I’m thinking about whether I should even be trading during news events, or if one of these brokers is more reliable when the market gets wild. I’ve had some bad fills during FOMC announcements and I’m trying to figure out if it was just bad luck or if I should switch brokers.
Has anyone actually tested both brokers during news releases and noticed a real difference in how they handle the volatility?
Axi widens more Pepperstone holds tighter during news.
Don’t scalp during announcements spreads get too wide.
News volatility exposes the difference between these brokers quickly.
Pepperstone tends to hold tighter spreads during major announcements because they have stronger liquidity arrangements. Their spread on EUR/USD during FOMC might widen to 1.5-2 pips, then recover in seconds.
Axi spreads can jump to 3-5 pips on the same pair during the same event. The recovery is usually faster though because they use multiple liquidity providers.
Rebates still apply during news, but the math changes. A 0.5 pip rebate doesn’t help much if your spread just went from 0.7 to 3 pips. That’s why your execution quality matters more than the rebate during volatile moments.
If you trade news events regularly, Pepperstone’s stability is worth the trade-off. If you avoid news entirely, the difference doesn’t matter.
I tested this last month during the Fed announcement. Pepperstone was definitely more stable. My EUR/USD entry on Pepperstone got filled at 1.2 pips spread, but the same trade setup on Axi was closer to 3 pips.
That’s a big difference when you’re trying to make a quick trade during volatility. The rebate helped a bit but it didn’t make up for that spread jump.
Now I just avoid trading during major announcements altogether. It takes the stress out.
I trade the news regularly and I’ve seen this difference play out many times.
Axi’s execution model gives you tighter spreads in normal conditions, but when volatility spikes they get wider faster. Pepperstone doesn’t move as much because their liquidity connections are more stable.
The thing is, if you’re disciplined about news trading, you can still make money on Axi. I use wider stop losses during announcements and account for the wider spreads in my position sizing. The rebates help offset the cost a bit.
But if you’re the type to scalp around news events without planning, Pepperstone is cleaner. Less frustration with slippage. Worth testing both brokers during the next scheduled announcement to see how it feels for your style.