I've recently tested feeds, and wanted to share my findings. Everything is compared to my current broker Interactive Brokers: CAX - VcapFX This feed aggregates all the main ECNs, has some prop-groups and hedge funds and a bank that wants to remain anonymous. Once you get away from EUR/USD and USD/JPY the spreads are wider than IB. Instead of 6-8 for GBP/JPY you're talking 8-10. But for the two biggest pairs, they're good. Size is at the same level as IB. NewEdge This is AAA-class access to the interbank market. They've got 60 banks quoting, as well as ECNs (I think) - and huge flow from some serious players. They said they plan to add EBS Prime in a couple of months. I was somewhat surprised that the spreads weren't tighter. It's almost as good as IB, about 90% of the way. Size on the inside market is pretty much the same as IB, sometimes better as the market is near a 25 Euro order. But, if your normal clip size is 10m+ I think this broker would be very good to work with. Pricing is good, and everything about them seemed very professional. For my needs they said they'd take my business even though I was on the low end, but they were kind enough to mention about 10 others that they felt could be a better fit for my backoffice needs. Now, that's classy. ADM Derivatives They've got a Currenex portal with about 9 banks quoting - I think the main ones. Spreads are definitely wider than IB - about 30% more or so. Size is fine - you can easily do 3-5m on the inside. However, their pricing is not in fractional pips, so I'm not sure if you or they receive the difference. This might be an explanation why they offered the lowest commission of the lot. Not tested: EBS Prime Reuters RTFX As I cannot really see anyone consistently improving upon the 60 banks offered by Newedge, I'm left wondering if there's really any point at looking at EBS Prime and Reuters' RTFX. It the choice spread a myth? Interactive Brokers This is the broker I've traded with for years, and I've assumed that something better was out there if you looked hard enough and had the right sized accounts. I'm now doubting that, and as long as you're doing 1-5m per trade they have the volume to accomodate you (and often they have 20m+ if you add another pip). Any feedback is welcome, and I hope this is helpful to anyone else.