Do we have any one in here who trades currency futures (or options) contracts on the cme or any other regulated exchange.

Trying to find out the difference in terms of pros and cons between spot fx versus trading fx derivatives on a regulated exchange.

I read somewhere spotfx is a noobs game primarily because the brokers have the upper hand and trading fx derivatives on a regulated exchange via a direct access broker is what the retail pros do.

Any truth in this?