PL> Is dealing in currency movements illegal if you are
PL> not a registed as a dealer?

Nope, some FIs even have accounts in foreign currencys and
you can do it that way if you want to.

PL> Is it true that for every loser there is a winner when
PL> dealing in futures or does that only apply to options?

That gets a bit philosophical. You can argue that its not true,
that there is a real sense in which one party can basically be
ensuring a certain result, instead of a less certain result. For
example if you think a currency is about to drop, you can in effect
fix the effect that has on you, someone else wears the actual result.
That is essentially what futures were intended for originally.

--- PQWK202