DislikedThanks for the reply. {quote} Assuming one of the LPs is always more competitive than the others, you just might end up always going with the same LP which would make it very easy for them to build a profile on you and cut you off.... of they are able to do so is my main question.Ignored
Putting that aside for a moment though, let's consider your hypothetical scenario where one LP is always more competitive than the others. It's true they would get more of the order flow due to quoting better prices, but it would still be difficult for them to build a profile on you specifically since they would also be receiving thousands of orders from other FXCM clients with no way to distinguish the orders of one trader from another.
Putting that aside for a moment though, let's consider your hypothetical scenario where this LP does manage to profile you (perhaps because you always place orders of 846K in size on EUR/JPY ), how could they cut you off? The prices they quote on our NDD feed are available to all our clients if they are the best price available. The only way for them to reduce the chances of getting your order flow would be to become less competitive in their pricing which would also cause them to miss out on the order flow of all other FXCM clients.
Putting that aside for a moment though, let's consider your hypothetical scenario where this LP does decide to quote less competitive prices. There are 10+ liquidity providers on FXCM's NDD feed. Your orders would simply get filled by one of the other LPs that's quoting better prices.