I am shopping around for an FX ECN broker to use for managing accounts - currently looking at IB, HotSpotFX and Dukascopy. The first imperative is absolutely no requotes whatsoever, even during news or some black swan incident. A market maker's failure to be on top of his game shouldn't cause problems for me. I'm leaning towards HotSpotFX at the moment, but they are slightly more expensive. With IB, pretty cheap but weird consolidation of P&L in various currencies. Dukascopy, well... are these guys really safe to deal with? I have some worries on safety of funds and (lack of) regulation of their business. Currenex seems to be such a crowded area, with no two people offering the same service and liquidity. I haven't explored this much though. If anyone would like to offer opinions or other alternatives, I'd be very interested to hear what you think. I'm trying to avoid using a prime broker. And pls don't bring up regulation or licensing for my part, I'm outside of the US and FX is unregulated here.