Welcome to the forum, David!
You are right to make regulation a priority when choosing a broker. The right choice also depends on where you live.
Forex is regulated by government bodies in major financial centers around the world. For traders who live in those major trading centers, it makes sense to focus on brokers regulated in their home country.
Traders who don’t live in one of those countries should consider brokers regulated in major financial centers appropriate for their region. For example:
- In the US, forex is regulated by the CFTC and NFA, and brokers are required to maintain net capital of $20 million.
- In the UK, forex trading is regulated by the FCA and funds are protected for up to £50,000 per client by the FSCS.
- In Canada, forex trading is regulated by IIROC and funds are protected for up to $1 million per client by the CIPF.
Yesterday, we explained to another trader why FOREX.com UK could be a good fit, because he lives in Europe.