I've been doing a lot of research on this particular rule, and it really seems the odds are stacked against us. You see most of the brokers we deal with are not "non-dealing desk" brokers, which basically means that they are market makers. This puts us in direct competition with them. At this point I am very skeptical that someone can win consistently dealing with these kind of brokers. I mean we are basically in competition with someone that can see every aspect of our orders, including stop losses and profit marks. If I can not find a reputable non-dealing desk broker, I'll most likely switch over and trade a regulated exchange.
The following two links will give you additional insight, please take their warnings to heart.
http://en.wikipedia.org/wiki/Forex_scams
I'd like to personally thank Phil for his efforts. It's really been an eye opener for me. Phil will be starting a public forum where forex traders can discuss their interaction with brokers, and hopefully the discussions will lead to answers. There's a lot of good information on his blog. Please study it carefully.
http://nondealingdesk.blogspot.com/2006/05/spiking-fact-of-forex-life-if-so-its.html
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