Why regulation is necessary in forex market?

Forex is a decentralized market so there is no specific regulatory authority here to monitor the trading activities. However, traders can take some preventive measures here. For example; while working with trading platform a trader can try to work with a regulated and licensed holder brokerage house which has reliability in this field. Experienced also counts here, trader should select an experienced and reliable trading platform. Thereby a regulated broker will always ensure safe and regulated trade executions.