What's Better: Regulated Market Maker or Unregulated ECN?

I'm trying to decide whether to go with a regulated MM like Oanda, or an unregulated ECN like FX Choice. I originally wanted to go with FXCM but given their recent financial woes I'm ruling them out. What do you say?

If you are asking this than you aren't an experienced trader. If you have serious money then better deposit somewhere and go back to demo a bit.

First: Oanda is a perfect broker for novice traders and who has low money ( < 20k ) , because: has a maxed leverage 1:50 1:20 and don't let you money wasted in 1 trade, you get a second chance.
Second: it is an old broker. Scam brokers with 0.1 pip come and goes. When you earn some money and want to withdraw then something is happening and you don't get your money back. With Oanda wasn't an issue like this.
They just need to change the IT product manager and all is fine, everybody else can see they software is trash.
Trading with they: as first sight has backwards.
They wide the spreads at news releases to even 10 pip from 1-3 for a couple of minutes.
Being US broker they implemented the FIFO. -for this I left they. I wanted hedge. Not so good the hedge.

I would recommend to stay with they 2-3 years play with money for cigarettes and save money.
When you have 8 month profitable from a year and 3 is consecutive and you have 20k usd, I would look for other opportunities.

Dukascopy it is Switzerland, but they are russians. They softs are a lot more better, even they has/had a fail mobile app release too.
Around 50k I would switch to Dukas.
Ah, when you open an account with Duks take sedatives, seriously, they are just so crazy as it is unbelievable... and some account managers are horrible, but there is a nice one and you can ask him. In private message I will write the name, if you need it. Sometimes matter, usually not, but mostly at account opening.
No problem wit they at withdraw, like I told better software products.

I would go with a regulated broker regardless whether they are MM or ECN so in case you have issues with them, you can complain to regulators and they can step in and help you. MM and ECN is just the business model and the brokers operate under. There are reputable and unscrupulous brokers in both models. The most important features of the broker is their honesty, fairness, their spread and their competence & speed in executing your orders.

I never claimed to be an "experienced trader"... obviously I'm not, or I wouldn't be asking this question.

I've been demo trading for 8 months and have done fairly well at it, and no, it is not a "serious" sum. I'm going to be depositing $2,000.

I have used O. for 2-3 years now, wouldn't change for anything. They have 2 platforms: regular mt4 and their proprietary Java. I don't like the Java as well as I could not set your D. channels, they don't have SMA "High" or "Low" - a very sparse platform. But I do like that the Java's daily close can be set for 5:30 p.m., ET, I don't have to stay up until 11 p.m. for the close (as I would have to for mt4.) They are a good broker, very tight spreads, and since the mgt. shakeup a year or two ago, much more interactive with their clients. They have a four Monday webinar starting Feb. 2 for trading strategies, check it out.

And no, I don't work for them, don't own a piece of the company, or have a relative or friend that works for them, they are just a good broker, period. p.

p.s. - checking out your SMA D. strategy