[lordnacho]

I used to run an FX hedge fund, and I know some people who got into the FX retail broking thing.

The FX retail brokers are essentially providing a casino. They aren't really offering investment services, though it may look like that from a legal perspective. FX is also an area where they can give you lots of leverage, which they love because they collect more fees that way. Naturally they market in a certain way to a certain clientele, and that's why it might feel shady, because they tend to use the get-rich-quick marketing toolbox.

If you look at FX volatility, the actual stdev of the price moves is much lower than most stocks. It's the leverage that allows you to make it risky. If you can find an edge, it's not much different from any other asset class. Bunch of prices that change, if you can find any predictability, you can make some money. No need to always go one way.