[torero]

brownsfan, I traded EC a little in the past but was not getting much results until I found GBPUSD and little by little other pairs, a whole new world of uncorrelated instruments you can trade just in the forex alone, so US indices have no influence on these animals.

I think the bucketshops (dealing desk) are there and changing as well. I've been using MBtrading FX (ie. non-dealing desk), quotes and orders go straight to spot so most of the major pairs are 1-2 pips max. It's true there are some unscrupulous brokers out there but there are many traders who found the right brokers and have no problems with forex at all. So I think the idea of lack of regulations should not hinder anyone from trading forex, it's a matter of doing proper research before committing your money.