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In my evaluation as an independent trader, one factor I always prioritize is whether a broker operates under clear regulatory oversight. With Shikoku, I found that they are regulated by Japan’s Financial Services Agency (FSA), specifically under the entity 四国アライアンス証券株式会社, with a retail forex license. For me, Japanese FSA regulation signals a solid baseline of accountability and consumer protection, since the FSA is known for setting rigorous standards for financial institutions in Japan. Regulatory status alone, however, doesn't guarantee a flawless trading experience. I always look further, but the official oversight by the FSA consistently ranks high in my decision-making process, especially given the prevalence of unregulated brokers in the industry. Having a regulator like the FSA involved gives me greater confidence that the broker must comply with important rules regarding client fund segregation and operational transparency. Still, I remind myself that no regulatory framework is entirely foolproof, and it's essential to assess all aspects of a broker's offering before making substantial commitments. In summary, based on my own standards, Shikoku’s regulation by the Japanese FSA is a significant point in its favor.