I agree that it’s probably an awful broker. I had a friend who had a similar problem.
But your conclusion about regulation just couldn’t be more mistaken.
The real problem here, as with countless other brokers pretending to be regulated - but only by subscription service regulators, i.e. fake ones - is that it ISN’T actually regulated.
Not in any realistic way that protects or helps customers.
The importance of real regulation is clearly explained in the Babypips course.
Many of us here, including at least a couple of members with huge experience of the industry, have repeatedly agreed with PrestonRiver, in well-informed, well-reasoned posts, that many regulators really are a scam.
But that somehow isn’t enough for him: he already “knows” that “all” regulators are a scam, by definition, so he doesn’t need to learn anything, or to look at any evidence at all, or to consider any opinions that are less than identical to his own. 
Nor does he need to answer the question asked here by Dockdaisy (in one of the most ‘liked’ ever posts at Babypips).