I am curious as to how much size you can do in a spot pair like the Euro before you take out the market. I understand that they don't show that much size (3-5m each) but that they refresh so that you could do larger orders. The question is, how large. Could you easily do 20m? How about 50m? Any feedback much appreciated, interested both in IB but also HotSpotFX and other ECN-type books (isn't there one called ESB?)... EDIT: I meant EBS Spot / Prime.
On IB right now (4:37 GMT -5) there is a one pip spread with 9,000,000 euros being both bid and asked.
I regularly see 1 pip in 15 mio EUR on Hotspot retail platform and 1 pip in 25 or more on their Institutional platform.