Forex can definitely be considered worldwide business.
Forex is legal, but the problem is with the regulation of some Countries. Many Countries do not have regulations about Forex Brokers and many scammers take advantage of this! Exactly for the reason that Forex is a worldwide Business, they can sit wherever suits them and scam people without being regulated!
Forex is risky! There many reasons, but the most important are:
1. Too many scammers try to get to your money in many ways!
2. Be very careful, who your Broker is!
3. Before you buy a product, make sure you know what type of product it is and that you are paying the correct amount of money. If you think it is onetime payment, make sure it is!
4. Leverage means big potential for profits and a great risk for losing everything!
5. You need a very good system that you have tested for a long time.
6. Be disciplined! It is more difficult than what you think!
7. Not everything that works on Demo works on a live account!