I think the competition in the market is getting healthier. People are also learning through social trading platforms such as Fxview, IB etc. I think these are the best platforms where traders can interact and can get some views about the various brokers and strategies.
The aspect where trading has become safer is due to the specific protocols such as HTTPs and encrypted transactions, which have made it difficult for hackers to steal money from accounts. So yes it is getting safe but it is not like a hundred percent assurance. Training is the test of patience and resilience which traders need to use while trading. There is still a lot of room for growth in the safety aspect yet.
The age of internet and strict regulations against the scamsters is making the trading scenario very secure and robust. I think now more than often a trader needs to be armed with all the knowledge of the trading principles and regulations to look for because even though regulations are not protections, then also it can be a verification that the broker will not run away with your money. There are regulated brokers such as IB, Fidelity, Oanda, Fxview, Ameritrade, Pepperstone, etc which I would recommend every trader to use. Nobody should ever go for unregulated brokers.
Some brokers may be scams but not all meta trader brokers are scams. Most of the brokers are regulated and reliable.
What's the source of such scary rumours . This industry is thriving as it attracts newbies, however if you know what you are doing, MT4 is pretty good choice for CFD trading. Brokers like Hotforex, Tickmill, Exness have been existing for years I doubt scam would last for such a long time. FCA regulated brokers are quite reliable imo, they have proper account and strict reporting procedures.
you can look into ww.trustpilot.com before investing your hard earned money also check if they are regulated and have a broker license.
Not all brokers are scammers, brokers without any proper regulation. In my view, I suggest avoiding choosing brokers that offer bonuses because they could be market makers or scammers.
There are many brokers who have a very good reputation in the market. Always choose a broker with a good reputation so you will not regret later.