Regulation is very important for sure, but if a regulated broker sucks at providing quality services, then it is useless. I go for quality trading conditions and fast withdrawal first when choosing a broker.
To trade in Forex market traders mostly depends on their brokers, so here, regulation is the biggest fact to choose a broker. By ensuring the regulation program we can confirm that the broker we are selecting is safe for our trading.
Unfortunately, the trader may be wrong. It is necessary to objectively assess the reliability of the broker. Regulation is good for reliability, but regulators usually worsen trading conditions. Therefore, traders often open deposits in unregulated companies.