I received an email this week from someone commenting on the relative lack of liquidity on FXMarketSpace. “The volume has started decreasing, yes, but I hope it will pick up again. Probably the banks like to keep things the old way, where they have no obligation to fill when it doesn’t suit them,” my contact writes.
Smarter people than me have termed FX a casino rather than a market; after all, the house always wins. But do banks really bust trades on such a frequent basis? Competition suggests that they can’t.
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