There are many brokers who are geniune in their dealings, i ve traded with liteforex and till now i never had any major issues, but many traders are lured by fake brokers who offer various services and fail to comply with it when the trader joins in.
its very important to have a good broker so that you can trade with peace of mind and you could really utilize the service of that broker for your benefits, its better to choose a broker where some of your acquaintance is already trading.
Yes it is a very profitable business, but the condition is you have to be very dedicated and hardworking. there are many people who have turned forex trading into their profession by their dedication towards it.