Disliked{quote} That's the common mentality that brokers assume people have and that's why they get away with their misconduct until it gets too big and the regulators couldn't decide to ignore it, the US regulators such as the SEC and CFTC have in fact done a much better job than other countries. I have stated clearly that I have went to the change already and will take action against these crooks.Ignored
Dealing Desk: On the Dealing Desk execution model FXCM can act as the dealer on some currency pairs. There are also back up liquidity providers that fill in whenever FXCM does not act as the dealer. Please note that FXCM's Dealing Desk employs fewer liquidity providers than the No Dealing Desk (NDD) execution option. FXCM does not guarantee that quotes, prices, or spreads will always be better on one form of execution as compared to the other. Customers should consider many factors when deciding which execution type best suits their needs (e.g., conflict of interest, trading style or strategy, etc.). For more information, see our Execution Risks.
Advertised Spreads: FXCM spreads are variable. The spreads listed here were derived from the time-weighted average of the spreads from 1. October 2013 to 31. December 2013. Advertised spreads may not be applicable to client accounts of referring brokers. FXCM strives to provide traders with tight, competitive spreads; however, there may be instances when market conditions cause spreads to widen beyond the spreads displayed here. For additional information, click here.
Compensation: When executing customers trades, FXCM can be compensated in several ways, which include, but are not limited to: adding a mark-up to the spreads it receives from its liquidity providers, receiving compensation for order flow, and charging commission to accounts that trade with FXCM's lowest spreads which are available to qualifying accounts. Under the Dealing Desk execution model, FXCM may act as a dealer and may receive additional compensation from trading.
So if you trade like millions+ sizes and/or you trade at least daily, you should go with their "Active Trader" execution system which has lot lower spread or change broker altogether if you can find better spread elsewhere or anything else that you don't like. The Dealing Desk execution system clearly would not work for you. Not all brokers are created alike even among ECN STP brokers.
Anyway, good luck!
Make your losses in demo. Earn your profits live.