It depends. The legitimacy of Forex trading is a nuanced matter. It hinges on whether the Forex platform in question is reputable, which can sometimes be challenging to discern. In essence, Forex trading is a valid and widespread activity, engaging both individual retail traders and major corporations or banks. It offers an array of opportunities, potentially yielding substantial profits when executed correctly. However, akin to all financial markets, it carries inherent risks. To succeed and steer clear of potential pitfalls, one must possess the right knowledge, tools, and strategies. Moreover, it’s worth noting that some Forex platforms may appear genuine, licensed, regulated and legitimate on the surface but may not be. 

Determining if these platforms are real can be very hard for regular investors. This is why fake Forex platforms cause people to lose billions of dollars every year.