I have seen no promise that people will make money from currency trading, simply statements that it can be done. And it can.
Why should there be any standardized, centralized training? It’s a personal life choice. I choose to race cars as a hobby, if I wrap one around a tree and kill myself it’s my fault for entering into something risky and then exceeding my talent, or not having the right equipment, or being overly ambitious: my estate won’t sue the State for my not having been trained to the correct standard. Trading is a voluntary activity, so it is noone’s responsibility to ensure that we don’t do it badly.
If a newer trader stakes a sum of money that is of great significance to them with any gaps in their wider comprehension then they are the ones at fault; a fool and his money are easily parted. I was a newer trader once, we all were. Three years ago I did not know what a pip was. I studied right, played it sensibly and cautiously, today I am full time and profitable and never blew an account or had any significant drawdown. So of course the disclaimers are enough - they state that you can lose your shirt in this game, they state repeatedly that losses can exceed account size.
Even if that were true it does not prove that the market is corrupt. Just look around the threads on BP and other fora - a lot of newer traders seek to run before they can walk, they target unrealistic pip/cash returns, they risk too much to get there, they overtrade horribly, they have enormous overall exposure to the market at any given moment, etc. The majority of threads on BP include contributions from newer traders who make basic mistakes, but that is part of the journey, I did it, most of us did. We can learn our way through that. Unless we wipe ourselves out during that period through poor decision-making. The sensible ones will be controlling their risk during the learning period, so will not be overly financially punished for their mistakes. I have only ever risked 1% of my account per trade, and when starting out only ever had two open trades at a time. Because I was a rookie. Now I still risk 1% per trade but will have a couple more open trades going at a time if the market conditions suit. We read of newer traders around here taking several setups at a higher risk. That is a personal choice, and in my view they are making a mistake, they’re risking being bitten by the market during the period when they still often do not really understand why they are in a particular trade. I did not come into this as a wealthy, experienced trader, or as a broker, yet I am still here as are many others. I did not have some special, inside track giving me the secrets on how to survive - I learned my craft steadily and just got better at it, working off the same information to which everyone else has access.
If someone takes too much risk too early then they are at fault, not the system, and that obviously goes for anything - not taking crazy risks while not really knowing what one is doing is a life skill, not a trading skill.
You’re coming across as a little bitter, and as wanting to find someone or something to blame for your own bad experience, for your own shortcomings. Don’t bet the farm on something you don’t understand, then start a witchhunt for someone to blame when you lose the farm. You had a choice at every stage, and you made a poor one. I’m sorry, but that does not mean that the system is at fault. Gamblers don’t always win.
ST