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In my experience as a forex trader, when evaluating Chibagin Securities, I notice several points that require a conservative and cautious approach. While the firm does have a long operating history in Japan and is regulated by the Financial Services Agency (FSA) with a Retail Forex License, there are still important risks and downsides that I personally would not overlook. Firstly, the broker provides very limited information regarding trading accounts and platforms. For me, not being able to clearly identify what account types are available, what trading platforms are supported, and whether there are robust risk management features can be a significant issue. Transparent and accessible information is vital for making informed decisions, and a lack of this detail can make it difficult to assess whether a broker will meet my trading needs. Another drawback I have noticed is the absence of demo accounts. As someone who values testing out a platform’s functionality and order execution before committing funds, the inability to open a demo account could prevent me from properly evaluating their offerings and assessing if my trading strategies will work effectively. Additionally, specifics regarding fees are not prominently disclosed, aside from references to face-to-face transactions and a link to their website's fee schedule. Without direct clarity on commissions, spreads, and other costs for online trading, it's challenging for me to anticipate the full expense of using their services. While the firm has positive user reviews and a long history, reliance on reputation alone isn’t sufficient for me. The mention of "medium potential risk" must be considered, as it suggests the firm may not offer the comprehensive protections or transparency that some international brokers provide. In summary, while Chibagin Securities' regulation is reassuring, the lack of platform transparency, account details, and the absence of demo accounts are downsides that prompt me to exercise caution.