All websites dealing with forex have a duty to warn potential traders of the associated risks.

Before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. There is considerable exposure to risk in any off-exchange foreign exchange transaction, including, but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair. More over, the leveraged nature of forex trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you. The possibility exists that you could sustain a total loss of initial margin funds and be required to deposit additional funds to maintain your position. If you fail to meet any margin requirement, your position may be liquidated and you will be responsible for any resulting losses. To manage exposure, employ risk-reducing strategies such as 'stop-loss' or 'limit' orders.

And here is my personal advice concerning risk management:

Always use a demo account until you have managed to trade profitably for at least three months.

When you start trading for real, trade small at the start. One must learn to keep emotions in check and there is a huge difference between trading on demo and trading for real.

I never risk more than 3% of my equity on a single trade.

Be patient and avoid the temptation to always be 'in the market'.