As you descend the levels of access, the difference between the bid and ask prices widens (from 0-1 pip to 1-2 pips only for major currencies like the Euro). This is due to volume. If a trader can guarantee large numbers of transactions for large amounts, they can demand a smaller difference between the bid and ask price, which is referred to as a better spread.

Do market makers and clients have a conflict of interest? Market makers are not intermediaries, portfolio managers, or advisors, who represent customers (while earning commission).

Stochastic oscillator: This is used to indicate overbought/oversold conditions on a scale of 0-100%. The indicator is based on the observation that in a strong up-trend, period closing prices tend to concentrate in the higher part of the period's range. Conversely, as prices fall in a strong down-trend, closing prices tend to be near the extreme low of the period range.