If you think in percentage terms, which a trader always should IMO, then Dorman has a relatively stronger capital position than Phillip [required capital / excess capital]. Whether that relative strength is an advantage, I have no idea.

And then there are the reports on client segregated and client secured funds.

Why is Dorman's required capital so much lower than Phillips?

I have no comment on the regulatory actions. I'll leave that to your interpretation.

Also remember to do an NFA name search on the CEO of the IB.

ALL brokers in the US should be licensed by the National Futures Association (NFA)

because of that:
https://www.forexbrokerz.com/news/estonian-fx-broker-tallinex-ordered-to-pay-back-10-million-usd-to-us-citizens

If you are outside you can choose (Brokers in the US only)
or you are automatically forwarded to an branch outside of the US.

If you are for example open an account at Interactive Brokers from outside the US you are becoming customer of Interactive Brokers (UK) the same with Oanda