DislikedAre you kidding? 10-20M is a drop in the bucket, there's no market impact from an order that small. You might be confusing your broker's limited liquidity (and the price data therein) with that of the interbank market. It takes exponentially more size to have an effect on interbank prices.Ignored
Still, it is a good point. The problem is that it is mostly the same liquidity providers at every ECN. Therefore, hitting one LP at one location will usually affect prices at the other ECN's. Perhaps there is a much smaller effect at EBS or directly with a big bank -- I'm not there yet. And remember we are talking about the less-liquid trading hours. I have found, though, that liquidity is much less than you would expect from hearing the hype about the massive size of the forex marketplace.