[rjrdi38dbbdb]

Nope. It's not better for known uninformed traders. If you mix them in with informed traders, market makers must widen spreads.

This is very obvious in institutional FX. Pure "retail" flow will get quoted much tighter spreads by banks and market makwrs than you'll see on any ECN. Yes, it can get skweded against predictable flow, but a true "noise" trader won't be affected by that and will definitely be better off with tailored liquidity.

[WiSaGaN]

You don’t have to trade with market makers.

[rjrdi38dbbdb]

So you're hoping get price improvement by crossing with other trader orders in the book?

Unless you have a good high frequency predictor and low latency order management (you don't), you're going to experience adverse selection. Either because you're taking resting orders that HFTs are smart enough to avoid or because your resting orders get run over by informed traders.