Which forex broker has the best execution during major news releases?
Verdict
- Pepperstone is our pick for trading major news releases: it states execution with no dealer intervention, fills from 50 milliseconds and a 99.32% fill rate (its figures for January to March 2026).
- No broker can promise its average spread during a release; spreads widen and ordinary stop-losses can slip, and Pepperstone does not publish a guaranteed stop.
- If guaranteed stops matter more than raw pricing, Capital.com, our second choice, describes a guaranteed stop-loss in its help centre.
- Retail clients on Pepperstone's UAE site have negative balance protection, which limits losses to the account balance after a gap.
News releases test a broker more than any other moment: liquidity drops, prices jump and slow or re-quoted fills cost real money. Pepperstone publishes how it executes, and its raw-pricing account suits fast markets, so it is our pick. But no broker removes the risk of trading the news, and this page is clear about where it shows.
Why Pepperstone is our pick for news trading
Pepperstone states that it executes "from 50 milliseconds, with a 99.32% fill rate and no dealer intervention", measured on trades from 1 January to 31 March 2026. No dealer intervention means a person is not deciding whether to fill your order. On Razor, you pay a raw spread (EUR/USD 0.1 pips on average) plus a commission that does not change when the market is busy, so a wider spread at release time is not compounded by a mark-up. UAE retail clients also have negative balance protection.
Affiliate link — we may earn a commission at no extra cost to you.
Which brokers are best for trading NFP releases?
For US non-farm payrolls, look for three things: transparent execution, a raw-pricing account, and a clear answer on stops. Here is how our three picks compare on what they publish:
| Pepperstone | Capital.com | XS | |
|---|---|---|---|
| Published execution data | From 50 ms, 99.32% fill rate, no dealer intervention | Not in our data | Not in our data |
| Raw-pricing account | Razor, 0.1 pips avg EUR/USD + commission | No published average in our data | Elite, 0.1 pips avg + $6 round turn |
| Guaranteed stop-loss | Not published | Described in its help centre | Not in our data |
| Negative balance protection (retail) | Yes, UAE site | Yes, per help centre | Not in our data |
| Retail leverage on major FX (UAE) | 1:200 | 300:1 (500:1 on 15 majors) | Account-level up to 1:2000 (dynamic) |
What actually happens to your order at release time
- Spreads widen for seconds to minutes, so a 0.1-pip average can briefly become several pips.
- A stop-loss becomes a market order once triggered and fills at the next available price, which can be well past your level.
- Pending orders placed close to the price can fill on the spike and reverse straight away.
- High leverage magnifies the gap: at 1:200 a 0.5% jump against you equals your full margin.
A safer way to trade releases
Cut your position size before the release rather than relying on a stop to protect you. Either be flat at the release and trade the move after spreads settle, or accept that the entry price is uncertain. If you want a hard limit on the loss of each trade, consider Capital.com's guaranteed stop-loss and check that it is available on your account and what it costs. Pepperstone remains our pick for execution and pricing, with that caveat stated plainly.
Affiliate link — we may earn a commission at no extra cost to you.
Sources
Execution and protection terms as published.
Does Pepperstone widen spreads during news?
Spreads on Razor are raw market spreads, so they widen when liquidity thins at a release. The commission stays the same.
Can I use an expert advisor to trade news at Pepperstone?
Yes, Pepperstone allows EAs on MT4 and MT5 and offers cTrader Automate, but an automated strategy is exposed to the same slippage as a manual one.
Will a stop-loss protect me during NFP?
Only partly. An ordinary stop can fill beyond your level in a fast move. Pepperstone does not publish a guaranteed stop; Capital.com describes one in its help centre.
Risk warning: CFDs are leveraged products and you can lose money fast. Make sure you understand how they work and whether you can afford to take that risk. This article reports broker-published terms and is not personal investment advice.