Based on FXall's just-released Q3 results, it seems as though margins at Forex ECNs - or what the rest of us pay in terms of spread - is in long-term decline, as competition heats up among FXall, Currenex, HotspotFX and the other Forex ECNs.

Details at LeapRate,
http://leaprate.com/forex-industry-news/entry/fxall-reports-q3-results--margins-under-pressure.html.
Which Forex firm to trade with?