Hello,
The level II window shows you a list of the different bid/ask prices, and the volume at that level. Because the forex market is decentralized, these quotes will only show you the potential orders for other clients with mbtrading/efx. That information is far less valuable then level II quotes for stocks where there is a central exchange. EFX/Mbtrading is also not a true ECN. MBtrading is the counterparty for all transactions.
The spreads change to reflect what various banks are quoting at depending on liquidity. The more liquid the currency pair is, the lower your spread will be. During news times, between sessions, etc, is when you will see a higher spread because there is not a large enough number of buyers and sellers.
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