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Drawing directly from my own trading experience and the information available, SHENGDA FUTURES operates in the Chinese futures market and does not specifically advertise or mention the concept of fixed or variable spreads as you might see with traditional forex or CFD brokers. Instead, as is standard with futures trading platforms in China, SHENGDA FUTURES charges commissions per contract rather than incorporating a spread-based model. The costs you incur are therefore primarily determined by these commission fees, which can vary between branches and are dependent on the specific commodity or futures contract you wish to trade. In my view, this approach means that the impact of high market volatility—such as during major news events—is experienced not through dramatic widening of spreads, but rather through increased price fluctuations and potentially wider bid-ask gaps within the futures exchange itself. The broker isn’t artificially adjusting what you pay during news events; instead, your overall transaction cost can rise simply because the underlying market becomes less liquid or more volatile. For a risk-conscious trader like me, this setup actually offers a degree of predictability, though it’s still vital to be mindful of slippage and fast-moving prices during such periods. Crucially, I recommend carefully reviewing the commission tables and any associated exchange fees on the SHENGDA FUTURES official page before trading, as fee structures aren’t always transparent at first glance and can have a meaningful impact on your bottom line, especially in volatile conditions.