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The issues raised by NFA are certanly true, but i still think that brochure is biased as it does not paint the whole picture, it focuses mainly on the "bad" sides of Forex while not acknowledging their opposites. For example:

There is no exchange. Rates are established in a loose connection among banks and they vary.

True, but you always have the opportunity to compare the rates from your broker with those from other brokers. If you think it is giving unfair prices or is creating non-existing spikes you can change it.

Centralized markets can suffer from obsolete regulations or obsolete regulatory bodies or prevent trading in a way it does not suit them.

Forex is more risky then other businesses.

Yes, but here you have the opportunity to test-drive your strategies without risking any real money - privilige that does not exist elsewhere. It's not that you're getting into something obscure and unknown.

Some say this is recession-free business: your income does not depend on the state of the local economy. There is great likelyhood that in your lifetime your country will go through some sort of slow down.

You can't get fired: the way things are it will exist in the next 200 years.

It's just you and the market: your income does not depend on other people, connections or possibly corrupt administration/politicians.

You can lose all or part of your investment.

Any decent education about trading should prevent this from happening.

You can be a victim of fraud.

That's true for every activity in this world.