Forex is a decentralized global market. Licenses and regulations are important before choosing a good broker in forex. That is the principle of a profitable trader. In my case, my broker Eurotrader has helped me a lot to make a profit on Forex trading. The broker also gives leverage 1: 500, tight spread, and much more.
Traders use support and resistance level to find the possibility of where the price will reverse or go long. Traders also use the level to set proper SL and Tp. It is important to know those levels well to trade effectively in trading. I am also a forex trader; I also learn about the level from Tpglobalfx free educational courses which can take all kinds of traders in the market.
I agree, it's important to pick a properly regulated company. They are much safer to use than the unlicensed ones.
Yes, broker regulations should play an important part when it comes to choosing a good broker. Any respected forex broker would be authorized and regulated by multiple regulators.