I see a lot of reference to this in trading discussions on forums but no one ever bothers to define this acronym, even though it’s not part of a basic trading education as far as I can tell.
References:
Depth Of Market, now stop trading asap.
The Ever Discouraging VIPER
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Thanks Viper, solid advice. Won’t happen. 
Yes, Depth of Market. So this is like, what, level 2 quotes in equities? This is something that shows you limit orders and market orders that are in play at any given time? How can this be done on a decentralized platform like FX?
Indeed.
(Or it would be, if such a thing existed.)
Yes.
It can’t.
But each broker can supply their own, just from their own platform.
It’s exactly the same thing as trying to use the “volume” figures that some spot forex brokers provide - in other words, it’s just a nonsense.
But bear in mind that these are brokers whose customers typically have a very limited level of understanding. Many of them even believe that they’re “trading” in a “currency market” while in fact they’re betting against a counterparty whose own prices are used to settle the bets. (And unfortunately many spot forex “courses” and “schools” reinforce this delusion.)
On the other hand, there’s nothing to stop any spot forex trader from looking at both the DOM and the volume of the matching forex futures contract, and that information really IS valuable. But the broker’s own figures (if any) for DOM and volume, you can forget.
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Also DOM got some of it’s fame with the NASDAQ, it was supposed to shine the light in the dark, showing the brokers ID with the trade, this allowed you to see whom the AXE was, and ride their coattails. Eventually the Big guys said, hey these little guys are picking us off, so then the platforms, ARCA etc stopped providing the ID, eventually it was done away with rendering it useless in the NASDAQ also. You can see some IDs on institutional FX feeds, but it really doesn’t help because you only have the IDs of who is on your Hub, not all of the liquidity. Anyway LC is correct, DOM is usless, other than to watch your price come up and get hit, but even that gets boring after a while.
The Ever Active VIPER
Read the last half a dozen posts on the final page of that forex factory thread.
That tells you all you need to know about all the hocus pocus mumbo jumbo that gets bandied about, including depth of market & volume in spot forex.
Thanks Corin.
The thing is, some of the traders who are bandying about this voodoo on that post are highly respected, within FF, and indeed, by myself, as I know they aren’t pushers of some agenda, and they seem to regard this jigsawtrading outfit with some veneration.
At first glance though, and just watching their videos Learn to Trade - Jigsaw Trading all my BS detectors are going off. It’s like the usual price-action hand-waving but the deluxe version.
Still, I’m hoping to get some opposing opinions that can backup the rationale.
Unfortunately that’s often the case clemmo but it doesn’t make the information any more relevant.
In trading as in life, if it looks too good to be true it probably is.
I wonder how enthusiastically these peddlers would welcome close & open inspection of their personal account history if pushed. That’s usually the deal breaker when probing the merits & benefits of these fancy looking gizmos.
Depth of market & volume have a very specific place, but however loudly they shout, it’s not in the spot fx arena. Time is precious & too easily wasted on forums. Tread carefully.
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Very true.
(But as it happens, this time, Jigsaw and Peter Davies are one of the exceptions that prove the rule: in an industry packed with sharks, crooks and scammers, they’re definitely “on the side of the angels”, as it happens.)
Exactly right.
This all has nothing to do with trading spot forex against a counterparty “broker”.
Well said! 
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DOM is something which we gets in forex luckily. From this we can see a broker in detail. Like with their trading ID, license etc. But only big investor get success from this I guess. But I think it won’t support a broker lot. Because from a trading ID we don’t understand anything more. If we get all the information of a broker like their liquidity their supporting system these will help most.
As so often, when you post, two things are very clear from your post:-
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You haven’t read most of the thread
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You have absolutely no idea what you’re talking about at all, and your valueless post just detracts from the usefulness of the forum to its members
Hey Bud, could you clarify this. Are you talking retail vs institutional? Or do you mean that it does not apply to Spot C at all.
The Ever Quizzical VIPER