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Toho Securities is a legitimate broker that operates under the strict oversight of the Financial Services Agency (FSA) of Japan. Being regulated by a reputable authority like the FSA means Toho Securities adheres to rigorous standards for financial stability and client protection. This regulatory backing helps ensure the broker operates transparently and follows best practices in handling clients' funds. However, it’s important to note that, like all brokers, Toho charges trading fees. These fees are typically based on trade volume, which may not be ideal for smaller traders who trade in lower volumes. Despite these fees, the presence of a reliable regulatory framework makes Toho Securities a safe and legitimate platform to trade with. Personally, I see the FSA regulation as a positive factor, as it guarantees a high level of investor protection and ensures the broker operates within the law.