Well said. This is hugely important, with forex brokers as well as with crypto.
There are two brokers actively compiling threads in this very forum (they’re actually owned and run by the same people, but don’t admit it) who claim in forums to be “regulated”, but it turns out on due diligence that the financial “institution” by which they claim to be regulated isn’t actually a regulator at all, has no power over them and has no ability to help their many defrauded customers (and says so openly, when asked: the important thing is to verify it rather than assuming, or looking only quickly, and thinking “Well, that must be ok, then”. It’s often far from ok, and saying “They said they were regulated” doesn’t get your money back).