jesus christ! when are people ever gonna learn?! the LPs were offline for 5 mins? what a crock of shlt! if i were a customer and heard comments like that, i wouldn't walk away--i would run. you should get on youtube and listen to what anton kreil has to say about retail brokers like FXCM, or GAIN, or FOREX.com, or SAXO Bank (1 of the largest and yet 1 of the worst imo). and if you still don't get it, then you might as well give me all your money instead of donating it to FXCM.
let's have a little history lesson and go down memory lane, shall we? FXCM spun off from REFCO which went bust years ago because the CEO embezzled 500M/USD! 500 millions! that should give you an idea of the kind of corporate culture prevalent at the top in those outfits.
so, the real question is: are you finally gonnna stop making excuses and help yourself succeed better by actually doing some in depth research and find the best broker(s) available? if not, then you are just another moron and you deserve to lose your shirt. but if yes, then there is still hope you'll make it in this business.
i got 2 names for you where you will get institutional spreads and execution quality without needing to qualify as an ECP (it means you don't need 100K+ to open an account.)
the 2 best brokers for retail traders currently are: the LMAX Exchange and RJO'Brien (UK). the former is a MTF which built it's own technology stack and it is bleeding edge. it's all on the web. the company released most of the technical details. that's how transparent they are. and the latter is one of the founding members of the CME, 100+ years in existence and best known for its futures brokerage. they rely on Integral for the ECN infrastructure, which gives you, the customer, insane liquidity.
unfortunately, if you are American, then you are fu€ked because they don't accept US clients anymore. you can thank the US govt for this, holding its own population financially hostage basically.
now, as to those people who yammer about how great FXCM is because, look at their educational material, they teach you blah blah.... WTF!!? 1st of all, brokers whose interests are not aligned with the clients will teach you the wrong way to trade. 2nd, i learned everything by myself using only free resources and some thinking. so you do not need FXCM's education site.
here is what you need:
larry pesavento's book 'trade what you see'
van tharp's 'trade your way to financial freedom'
joe dinapoli's 'trading with dinapoli levels'
john bollinger's 'bollinger on bollinger bands'
scott carney's 'harmonic trading'
and forexpeacearmy.com which has a whole 'school' section for free written by a professional trader actually working for a bank somewhere in europe. the material there has all the basics and more advanced stuff you need to be successful. that trader also makes his technical analysis (based on dinapoli's approach) of the eurusd and xauusd available daily. and for FREE. he has been doing it for years now and it's all archived. a plethora of material to learn from. not to mention other forum sections where you'll find threads explaining the ins and outs of the FX Industry and the whole food chain. once you understand the latter, then you'll know that your goal is to try to go pro as soon as possible because retail brokers really do not cut it, except for the 2 mentioned above which are not retail brokers--their client base is more the institutional crowd although they do accept retail traders if (1) you have the necessary capital and (2) the required experience.
so do wake up people and educate yourselves so you can take it to the next level where you won't have to worry about MT4 related BS, where there are no requotes, LPs are not allowed to have no last-look, and LPs don't suddenly become unavailable at news time. jesus christ! do you think tier 1 FX banks such DB or JPM or GS can't handle a NFP or other news release? exactly.
WAKE THE FU€K UP!!!