When choosing a broker, it is necessary to be as careful as possible and, in case of any problems, to withdraw money. If this is not done for any reason, there is a risk of losing money. I chose the broker FP Markets for the job not so long ago, if that's interesting. It is quite a reliable option, at least for me.
I suggest choosing a broker based on regulation and reviews from other traders. For instance, I started trading with FP Markets only after finding out that they are an older, reliable broker with ASIC regulation and provide good customer service. I first used their demo account to learn about the spreads and trading conditions.
There are many factors to consider, but the four most important are commissions, account minimums, account fees, and execution. When you hire a broker, ask around for references and study the tiny print. I started trading with FP Markets only after reading several reviews on them, which included both positive and negative reviews.
Yea, regulation is a must if you are concerned about the safety of your funds. Although I would recommend in paying attention to their term & condition before you register with them, because some brokers come with restricted trading conditions which make it a bit difficult to trade if your trading style happen not to fit with that.
There are some great broker out there such as aaafx, tickmill or pepperstone, but always read their T&C before you open a live account with them. It helps a lot to know what are you looking for.
In addition to tight spreads and instant execution, I looked at the length of time the company has been in the market and whether it is regulated. Based on these factors, I chose FXOpen, which has been providing its services for over 16 years and is licensed by the FCA.