1
Execution Integrity
We compare broker claims against audited live conditions, including news windows where spread behavior can change quickly.
Broker Cost Audit
Advertised spreads vs live spreads.
Most traders optimize entries and exits. Fewer audit the execution costs that follow every trade. VeriLots compares broker marketing claims against live spread captures, peer swap benchmarks, and cost data that can change when the market is under stress.
The hidden leak in your trading
A broker does not need to be expensive on every metric to create cost drag. A small live-spread jump during news, a less favorable overnight swap, or a conversion markup can quietly change the real cost of a trade. VeriLots calls this execution leakage.
1. The Typical Spread Trap
When the market moves, the typical spread can vanish.
A typical spread is a representative broker-published figure. It is not a guarantee. Around macro events such as NFP and CPI, live spreads can widen materially from the advertised or typical number.
| Broker | Event | Instrument | Typical Spread | Live Audited Spread | Extra Spread | Relative Increase |
|---|---|---|---|---|---|---|
| Pepperstone | CPI, 2026-05-12 12:40 UTC | GBPUSD | 0.07 pips | 1.50 pips | +1.43 | +2,042% |
| Tickmill | NFP, 2026-05-08 12:48 UTC | EURUSD | 0.10 pips | 1.60 pips | +1.50 | +1,500% |
| XM | NFP, 2026-05-08 12:44 UTC | EURUSD | 0.80 pips | 1.90 pips | +1.10 | +137% |
| AvaTrade | NFP, 2026-05-08 12:39 UTC | NZDUSD | 1.30 pips | 2.10 pips | +0.80 | +61.5% |
| FOREX.com | NFP, 2026-05-08 12:49 UTC | EURUSD | 0.60 pips | 1.20 pips | +0.60 | +100% |
Method note: CMC Markets was excluded from this evidence set because its spread data was flagged as flawed. Events are matched from the VeriLots macro-event table.
2. Swaps and Holding Costs
The invisible cost after 24 hours.
If you hold a trade overnight, the broker applies a swap. Since this database does not store institutional tom-next rates, the defensible benchmark is the audited industry average: the peer average for the same instrument and trade direction.
Transparency formula
% worse = (Industry Avg Swap - Broker Swap) / ABS(Industry Avg Swap)
| Broker | Instrument | Side | Broker Swap | Industry Avg | Worse Than Avg |
|---|---|---|---|---|---|
| Global Prime | AUDUSD | Long | -3.43 | -2.2133 | 54.97% |
| XM Global (FSC) | AUDCAD | Short | -9.56 | -6.5989 | 44.87% |
| AxiTrader UK | CADJPY | Short | -12.94 | -9.9377 | 30.21% |
| OctaFX | AUDJPY | Long | 3.90 | 5.1682 | 24.54% |
| MEX Atlantic | USDJPY | Long | 5.75 | 6.9682 | 17.48% |
Swap benchmark note: this is a peer-average comparison, not a tom-next market-rate comparison. CMC Markets, Exness, xChief, and unrealistic data were excluded from this table.
3. What It Costs You
Small leaks compound.
A 0.2 pip execution leak sounds tiny until you multiply it by monthly volume. For active traders, the annual drag can become the price of a new phone or a meaningful percentage of the strategy's edge.
| Trading Volume | Extra Cost From 0.2 Pip Leak | Yearly Cost Drag |
|---|---|---|
| 5 lots / month | $10 | $120 |
| 20 lots / month | $40 | $480 |
| 50 lots / month | $100 | $1,200 |
2
Swap Stability
We benchmark overnight terms against audited peers for the same instrument and direction, so the comparison stays verifiable.
3
Data Freshness
Audit examples are labeled with dates, event context, exclusions, and methodology notes to avoid turning a data point into a universal claim.
Stop guessing. Start auditing.
Trading is hard enough without an extra, unmeasured cost drag. Use the True Cost Engine to check spread, swap, commission, and conversion assumptions before your next trade.