How does Pepperstone handle slippage during news?
Verdict
- Pepperstone executes orders at the next available market price, so during news a stop or market order can fill away from the level you set; it offers no guaranteed stop-loss in Australia.
- Pepperstone reports fills from 50 milliseconds, a 99.32% fill rate and no dealer intervention, based on trades from January to March 2026.
- Retail clients have negative-balance protection: if a gap pushes the account below zero, Pepperstone restores it to zero.
- Pepperstone is still our top pick in Australia; if you need guaranteed stops for news trading, Capital.com, our second choice, offers them.
Slippage during news happens at every broker: prices jump between quotes, and an order fills at the next price available. What differs is how quickly a broker fills, whether it lets you guarantee a stop, and what protects you if a gap is large. Here is Pepperstone's position on each.
What happens to your orders when news hits
A stop-loss at Pepperstone is a trigger: once the price touches it, it becomes an order to close at the next available price. If EUR/USD jumps 20 pips between two quotes on a jobs report, the stop fills where the market reopens, not where you placed it. Pepperstone's Australian PDS contains no guaranteed stop-loss, and its terms elsewhere state that stop-loss and limit orders can't be guaranteed to execute at a set level. On the plus side, Pepperstone publishes fast fill times and a high fill rate, and says no dealer intervenes in execution.
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Pepperstone's protections and limits during volatility
| Issue | Pepperstone's position |
|---|---|
| Execution speed | From 50 ms, 99.32% fill rate, no dealer intervention (Q1 2026 trades) |
| Guaranteed stop-loss | Not offered |
| Stop and limit fills | Not guaranteed at the set level |
| Negative balance (retail) | Account restored to zero |
| Negative balance (pro) | One-time protection up to USD 100,000 |
| Retail leverage on major FX | 1:30, limiting position size per dollar of margin |
Spreads around releases
Pepperstone's published spreads are averages, and averages include quiet hours. Its own tables show how far spreads can range: BTC/USD on Razor has a 10-point minimum but a 15.15 average, and JPN225 a 7-point minimum against 7.4 on average. Around major releases, expect the spread on the instrument you trade to sit above its published average for a short period.
How to limit slippage on news days
- Reduce position size before scheduled releases such as the RBA decision or US payrolls.
- Place stops further from price, or stand aside until spreads settle.
- Use limit orders for entries, accepting that they may not fill in a fast move.
- If a guaranteed exit price matters to you, use a provider with guaranteed stops, such as Capital.com, for those trades.
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Sources
Does Pepperstone guarantee stop-losses?
No. Stops trigger a market order and can fill beyond your level in a gap.
Can I lose more than my deposit in a news spike?
Not as a retail client: Pepperstone restores a negative retail balance to zero. Pro clients only get one-time protection up to USD 100,000.
Does Pepperstone use a dealing desk?
Pepperstone says its execution has no dealer intervention.
Leveraged CFDs are complex and high risk: losses can build fast. This comparison uses broker-published terms and is not investment advice. Check current terms and the Target Market Determination before you trade.