TRADERDAILY
"Forex trading is being marketed like financial malt liquor to retail investors, many of whom are clueless about how distorted the playing field is for currency trading.
Players can’t look to a major exchange to see the best bid and ask. Instead, investors must rely on their broker to provide an honest price at a fair spread. Given the speed of markets these days and the added complexity of trading pairs in a market dominated by well-capitalized behemoths, it’s no surprise that even well-informed investors lose their shirts and everything else.
Recent National Futures Association decisions involving Gain Capital and IKON Global Markets show how brokers can engineer another kind of house advantage — the illegal kind."
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