Gfay is just so much more remote and there are no evil races that call Faydwer home (so banking wouldn't work for them). EC is just one zone off WC which has both ports as well, and within 5 zones there are 6 cities (not including anything requiring the boat).
EC tunnel is also not in the way of noobies or those going about their business around a city, has no pathing mobs, and architecturally has large meeting spaces where players naturally congregate. Distinguishable landmarks, like tunnel entrance, T1, T2, etc make for an intuitive means of linking buyers and sellers.
Not to say that any other way was wrong, but EC tunnel makes a lot of sense!
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