I’ve been tracking my trades around major news events, and I’m noticing the spread behavior is pretty different between the two brokers I’ve been testing.
On axi broker, spreads seem to widen more aggressively during fed announcements and jobs data releases. On pepperstone, the widening happens but it feels more controlled.
I want to understand if this is consistent or if I’m just noticing random variance. Also, does this difference matter when you factor in rebates and commissions? If one broker’s spreads blow out by 3-4 pips during news, but the other stays at 1-2 pips, does that actually change which one is cheaper for news trading?
How are you guys managing this? Are you avoiding news events entirely on certain brokers, or is the extra cost still worth it for the volatility opportunities?
Spread widening during news is real and consistent. What matters is how quickly they return to normal.
Axi tends to widen more during spikes, but tightens faster once volatility settles. Pepperstone spreads widen less aggressively but stay wide longer. It’s a trade-off.
For news trading, calculate your true cost: average spread during news + slippage - rebates. Test this over 10-15 news events on each broker with real trades, not estimates.
Usually, the broker with tightest spreads overall (pepperstone in most pairs) stays more cost-efficient even during news. But if your execution quality is better on axi, the slippage savings might offset the wider spreads.
I trade around FOMC announcements a lot, and this is where I’ve learned the hard way.
On axi, spreads on EUR/USD would go from 0.8 pips to 4-5 pips for maybe 10 seconds, then settle back down. On pepperstone, spreads go to 2-2.5 pips and stay there for longer.
For me, axi’s quick tightening worked better for ultra-short holds (under 30 seconds). Pepperstone was better for trades that lasted a minute or more because the spread stayed predictable.
Rebates didn’t change the math much. What mattered was how fast I could get in and out during the chaos. The execution speed on axi during those spikes actually saved me more than the rebate would have.
I used to trade news events aggressively, then stopped. The extra profit rarely justified the stress and risk of slippage.
What I noticed is that pepperstone feels more stable during volatility, but axi gives you better entry points if you’re quick. Neither is clearly “better”—it depends on your reaction time and risk tolerance.
Honestly, I make more consistent money avoiding the news spikes and trading the follow-through 15-20 minutes after the announcement. That’s when spreads normalize.
Axi widens more. Pepperstone tightens slower. Trade on your preference.
One practical test: on your next 5 major news events, record the maximum spread on each broker and how long it stays wide. Average those numbers. The difference in total cost per trade will be small (usually under 0.3 pips after rebates), so don’t let it be your deciding factor. Execution quality matters more.
I’ve also noticed that pepperstone’s slippage is more predictable during news, even if spreads stay wide. Axi sometimes fills you at much worse prices than the quoted spread. That hidden cost adds up fast if you’re doing multiple news trades.
Test both during next FOMC. See your actual slippage costs.
Also, keep in mind that different currency pairs behave differently on each broker. EUR/USD might widen more on axi, but GBP/USD might be comparable. Don’t assume the pattern holds across all pairs.