I have received numerous reports about the poor liquidity on various ECNs, and several of the leading banks have been extremely inconsistent in their pricing. Of course, they are fully entitled to adjust their spreads to the prevailing market conditions, but from what I hear and see, many of the alternative trading venues, such as Oanda and Saxo, are consistently quoting better prices.
I have also received lots of propaganda about the merits of various business models.
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