This is correct.
The FXCM case was very different from the others you mentioned. The regulator did its job, there. FXCM were blatant liars, and were banned from being a broker in the US because of it. The public was protected from scammers. A rare story where the regulator did the right thing, and successfully. Nobody lost a penny. Scammers were stopped.
A lot of “regulators” are fake ones, and useless, and paid for by the people they pretend to regulate.
It’s all really clearly and correctly explained in this post (for those open-minded enough to read it and learn something 
).