Depending on where you live and play (and what system you play on) you might have trouble finding a lot of matches.
Now if you play on PC (and I think on Xbox as well) you can set your location to anywhere you wish. This determines your country flag that will appear in a lobby, but it’s not entirely cosmetic either. If someone has set up a lobby with the locaion set to “Same”, you will only see them if your location matches theirs.
There’s only two settings, “Same” and “Any”, so a lot of people choose same for reasons of lag. But if you’re in Europe you can generally play with people from the UK, France, Germany, Sweden and so on pretty well as far as ping goes. Pity is, you won’t be able to see half the matches because they’re set to “Same”.
So obviously, if you live in a country that has a small playerbase, either because of it’s small population or because fighting games or whatever aren’t very popular there, you might miss out on a lot of matches because you location setting limits which matches you’ll see.
As long as you’re in close enough proximity to have a good ping with players from a country, it should be beneficial to set your location to that particular country. If you live in Luxembourg (pop. 500k) and have your location set that way, you probably won’t find a lot of matches. If you set your location to France or Germany you’ll get to fight people from those countries even if they have their location settings on “Same”, and with a great ping as well.
But then Germany has never had any arcades, so fighting games there probably aren’t as popular as in other european countries. There’s all kinds of things to consider, also depending on your location and proximity and all that.
In short: If you live in Europe, what location setting nets you the most matches?
Russia is still pretty close and it has a higher population than any european country. But I don’t know whether its playerbase is proportionally high as well. Germany has a high population, but I think the playerbase is proportionally low. You might get a lot better results with UK, which has arcades and SF should be a lot more popular by comparison.