FX is basically me (the traders) vs the FX firm?

"FX is basically me (the traders) vs the FX firm?"

It depends what you mean by your question. Yes, Forex Dealers are taking the other side of your trades, if you trade small size, but no in the sense that the dealers are not actually moving the market against you. The banks and other large institutional traders move the market, so technically you are trading against them. If you can't predict where the market will go enough to make consistent money, another words if you don't have an edge, you will lose at any broker. People act like an FX Dealer's market is so different then an ECN's and this simply isn't true. Sure the spread will be larger (with no commission), but the actual market will move the same, otherwise there would be great arbitrage opportunities. I am a very profitable FX trader and I use FXCM and I have just a normal standard account. I pay no commission but I pay a slightly higher spread then an ECN. I prefer this because I hold my trades longer (usually a few days), so the extra spread is almost meaningless. If I scalped 30 pips or less I would probably move to an ECN because you can cut inside the spreads and get much better fills. With scalping, a trader can not be sloppy with his/her entries and exits other wise it will cost him/her a lot long term. If you are a brand new trader I would recommend just starting out with a very small account at a dealer (Oanda, FXCM, GFT, etc.) until you get the hang of FX trading. Even if you are a scalper, you probably won't know enough about how to use the advantages that an ECN gives you in the beginning anyway. I have a lot of experience in this industry so if you have any more in depth questions about FX trading feel free to PM me. Good Luck

 

Some FX MMs are very good, some are disgrace to the industry, however the same is with brokers. But to blame trader’s lack of success on such a tiny factor such as uncentralized data, conveys to me the trader’s inability to overcome his/her own frustration from lack of trading skills.

Instead, these losing and frustrated traders take every possible opportunity to attack and blame external events, such as the fact that FX quotes are not transparent.
Since OANDA was mentioned in this tread, I can guarantee anyone who cannot make money in FX with OANDA that they will not make any money even with currency futures. Simple as that..

What happens is that those “traders” take all their problems with them to different market or different broker. The “real” problems those wannabe traders have, will be just “transferred”.