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Originally Posted by mishak
GJ, you make your point, I agree. 
Myself take the point of view of MoneyTec reader. I guess most of them do not have open 1MIO credit lines with two banks. So, trading 1M EUR/USD swaps is really difficult for them. As far as I know, internet based forex brokers do not provide currency swap quotes - they just take you from one or another side.
Therefore, currency swaps trading is out of reach for our "average" Forum reader, so I would call this "less liquid" than spot.
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Mishak - that's not what liquidity means at all. The definition of liquidity has nothing to do with how easy it is to get yourself in a position to trade (i.e. open an account). It is 100% to do with how the market reacts to the trades you do.
What you are talking about is actually accessibility, not liquidity.
GJ