[cooter]

The tick volume on these spot forex accounts, regardless of source, is only indicative of bid/ask changes in price.

There are no real transactions necessarily associated with the volume, per se.

If a bank "adjusts" its price, a new tick with the new price will be registered, with a tick volume of 1.

A transaction doesn't have to occur for any bank or bucketshop to change their price (and thus register a new tick).

Something to think about if you rely upon this "tick volume" in the spot forex market.