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From my direct experience reviewing YM Securities, I found that their fee structure is notably different from the typical commission model seen on ECN or raw spread forex accounts. YM Securities is a Japan-based broker, regulated by the Financial Services Agency (FSA), and its primary trading products are stocks, bonds, and investment trusts. There is currently no indication that they offer forex trading or ECN/raw spread accounts for individual traders. Instead, the commissions I encountered are tied to stock and bond transactions, which are charged in percentage tiers based on transaction size—with a minimum fee—for both domestic and foreign products. For example, in my review of their stock trading, the lowest fee starts at 2,750 JPY and the percentage rate decreases for higher transaction amounts. For foreign stocks, there are local and agency fees. I could not identify any structure resembling a per-lot commission typically associated with forex ECN environments. The absence of forex and ECN-related products strongly suggests that YM Securities does not charge a commission per lot traded as found with standard ECN brokers. For anyone accustomed to traditional forex pricing, this model may feel unfamiliar and, for me, it required careful attention to fee schedules before placing trades. Given their regulatory status and niche focus, it’s essential to carefully review product offerings and costs before committing significant assets.