as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
how much of foreign exchange (forex/fx) deep liquidity is really just unbacked leverage and what is the effect?
user
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.
assistant