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quote I disagree that it's the brokers. I think that it's individuals that sell things (systems, books, whatever) that promise make X pips per day or whatever. Brokers are typically fairly damn careful with not making claims since most of these are in the united states or Europe in which that type of stuff is frowned upon and brokers are under a lot of scrutiny. Also, lets face it, Foreign Exchange generally is popular with individuals seeking get rich quick with very little work. (it's no actual work to sit and stare at a chart) This leads some to think a lot of crap because...
I think it's often equally. You make a great point about the egy sellers, but there are also a good deal of bucketshops who make the most of individuals. Obviously, not all brokers are like this. There are loads of reputable businesses who don't do this, but unfortunately an ignorant newbie does not necessarily understand how to differentiate between the two. I didn't understand when I was a newbie, and I got burned.