How safe is Forex Trading?

What do you mean by 'safe'?
If you want to know how safe the traders are from being scammed, it depends on the brokerage. There is still lots of scam on Forex but the current situation is much better than it used to be a couple of years ago.
If you want to know how safe traders are from losing the money due to unsuccessful trades, they are not safe at all. Forex market is really volatile, so there are many opportunities of earning and losing the money.
When you would be trading forex, you put your money at risk in an investment strategy. However, the risk could be managed with a prudent trading strategy.
It is absolutely safe if you don't trade.
What is meant by safety here? Nobody is secured from wasting money. Forex trading can be safe from scam but it depends on the brokerage that you choose for yourself. There are still many scammers in FOrex but if you chose your broker in the right way, you are safe. As for the money, losses are an integral part of trading. Even the most experienced and smartest traders have losses because forex market is unpredictable and it may go any direction irrespectively of indicators and fundamental factors.
Yes, the risks could be minimized by learning Forex Risk Management, An effective strategy that is going to require proper planning from beginning to the end, because it is not a good idea to start trading and then try to manage your risk as you go.
I agree that the first step is to select a reliable company to work with. I have seen so many scam reports of pop up brokers that won't allow their clients to withdraw money. You can also take more precautions by practicing effective risk management.
Forex is relatively safe when you trading without leverage as you can sustain any drawdown, especially if you trade FX (as no currency can drop to zero). But returns, of course will be, quite modest. However picking carry trade pairs you can make additional returns from swaps.