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From my perspective as a seasoned trader, considering NOMURA as a broker means taking a careful, measured look at some real concerns. Firstly, their leverage for FX trading is capped at 1:25. This is notably lower than what’s standard with many global brokers, which always means less flexibility for those of us who manage diverse strategies or require higher leverage for tactical trades. While this lower cap does reinforce strict risk measures, it may hamper trading opportunities or profit potential for those used to more aggressive settings. Another important drawback is the relatively wide spreads. For USD/JPY, the spread is 2.8 pips, and for major crosses like EUR/JPY or GBP/JPY, the costs are even higher. In my experience, such pricing can materially impact profitability—especially for active or intraday strategies—since trading costs eat directly into any gains. Additionally, NOMURA does not offer a demo account, which makes it difficult to familiarize oneself with their proprietary platforms or test strategies risk-free before committing actual capital. Fees, particularly for in-branch transactions, can be significantly higher than their online offerings. For traders who sometimes need offline support, this is worth factoring into your decision, as it directly affects net returns. I also have to emphasize the broker’s history of administrative actions and high-profile internal scandals. Although NOMURA is firmly regulated by the Japanese FSA, these historical events remind me to approach with extra scrutiny and never ignore due diligence or the need for diversifying broker exposure. Lastly, their services and customer support appear mainly designed for Japanese residents, which might pose practical challenges for those outside Japan. All in all, these risks and restrictions mean I would approach NOMURA conservatively and only after fully weighing them against my trading style and needs.