Share your insights or perspective on the financial matter presented in the input.

how much of foreign exchange (forex/fx) “deep liquidity” is really just unbacked leverage and what is the effect?
I'd think that liquidity and speed are prioritized (even over retail brokers and in come cases over PoP) for institutional traders who by default have large positions.  When the going gets tough, these guys are out and the small guys - trading through average retail brokers - are the ones left holding the empty bag.