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Speaking from my direct experience and careful review of Morrison as a trading venue, it’s important to clarify that, as of my investigation, Morrison does not explicitly promote classic forex spread structures, whether fixed or variable. Their offerings focus primarily on equities, options, ETFs, bonds, and listed investment vehicles across Australian exchanges, rather than traditional forex or CFD products. Because of this, typical discussions about fixed versus floating spreads, as found on most retail forex platforms, don't directly apply here. That said, based on the institutional trading environment Morrison operates within and their straight-through processing (STP) model, pricing is determined by the underlying market liquidity from the actual exchanges (ASX, Cboe, etc.) rather than being internally set or manipulated. In my experience, during periods of high market volatility or major news releases, spreads on exchange-traded products will generally widen as market makers adjust for increased uncertainty and risk—this is a market-driven phenomenon, not unique to Morrison, and should be expected across all brokers dealing in exchange-listed assets. As someone who values transparency and risk control, I would always recommend contacting Morrison directly if you have concerns about trade costs for the instruments you intend to trade. Their fee structure could be somewhat opaque, so having clarity before placing any significant trades during high-impact events is, in my view, a responsible approach.