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When I reviewed Ando Securities as part of my own due diligence, I noticed that their fee structure is quite different from typical forex brokers advertising ECN or raw spread accounts. First, Ando Securities primarily offers access to Japanese stocks, investment trusts, bonds, futures/options, and insurance products; forex and commodities trading are not available through their platform, so the concepts of "ECN" or "raw spread" accounts in the context of forex simply do not apply here. Instead, the brokerage charges commissions on domestic stock trades based on a percentage of the contract value, specifically ranging from 0.08536% to 0.6325%, with a minimum of 2,750 yen. These are not fees per lot, but rather are based on the overall transaction value. Other applicable fees could include purchase or lending interest. In my experience, this is fairly standard in Japanese securities trading, where fees are not structured by “lot” the way they often are in forex markets. For anyone considering Ando Securities, it’s important to be aware that their business focus and cost structure are not suited for typical forex trading practices. The terminology and fee models are aligned with local regulatory requirements and traditional Japanese brokerage services, rather than the international retail forex scene. For me, this underlines the importance of carefully reading the fine print and ensuring my trading objectives and asset choices align with what the broker actually provides.