FXCM

First, let's go over how the quotes on the platform are determined. FXCM receives pricing from 10+ liquidity providers, and the pricing engine displays onto the platform the best bid/ask price plus a pip mark-up which is FXCM's compensation. The pip mark-up essentially acts as a commission on the trade. Let me give an example for a little more detail. Let’s suppose Bank A and Bank B are each quoting prices for GBP/USD. Here’s what each bank is quoting on the bid/ask:

NinjaTrader is working with FXCM right now. You can also already use MBTrading. Both FXCM and MBT offer mini or micro accounts where you can trade $1/pip, $0.10/pip, or whatever you want. If you want to stay with futures, look at M6E or QM. And Rich, I know that one reason a lot of people don't like to downsize after they've lost money is because they feel they can't earn that money back as quickly. I would recommend a more defensive position of protecting what you have, and simply aiming...