I find the preceding comments to be all too typical of those found on so many forums where members resort to ad hominem comments (attacking members) instead of dealing with the facts. I'm guessing FXCM wouldn't have moved to "no dealing desk" execution before Davis came along. And to suggest that because the guy isn't by his own admission a professional trader, his commentaries should be dismissed out of hand is nonsense.
The fact remains that FXCM's pricing isn't STP. If it was, they'd be beating that drum as well. And even if it was, like Interbankfx, it is very apparent that their spreads for all those major banking relationships, remain higher than the competition. This tells me that the market isn't driving their posted spreads and that they do, in fact, have their thumb on the scale.
As to the charge of being a competitor. Hardly. I trade using Oanda and EFX. Oanda is a marketmaker; EFX an ECN. Instead of insulting people, I suggest the writer compare the spreads he sees on those platforms with FXCM. When done then perhaps the writer will address the issue instead of attacking the messengers.
