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Reflecting on my experience and the specifics I’ve gathered about KOSEI SECURITIES, it’s clear that their fee structure stands out for its transparency but also for its complexity—a crucial point for me as someone who places high value on clarity when calculating costs. For online stock trades under ¥1,000,000, the commission is set at 0.601%, with a minimum fee of ¥1,100. For larger trades above ¥1,000,000,000, the commission isn’t fixed but must be negotiated, which means careful comparison is essential if you’re dealing with significant volumes. U.S. stocks are traded at a flat 0.495% commission, subject to a ¥550 minimum, and they’ve temporarily waived SEC fees starting in May 2025, which I find noteworthy for cost-conscious traders. When I evaluated their futures and options fees, I noted an online commission of 0.022% on index futures and 0.0044% on government bond futures, with a ¥440 minimum. This strikes me as reasonable within the Japanese market context, where such granular fee schedules are typical. There’s also an annual account maintenance fee of ¥2,200, though this is waived for anyone holding at least 100 shares of the firm’s own stock. For margin trades, annual interest rates run between 1.64% and 2.42% depending on the account type and position—a level I consider competitive, though always worth comparing against your alternatives given market fluctuations. I must stress, however, that KOSEI SECURITIES does not operate with typical spread-based charges per se; their model is primarily commission-driven, and for someone outside of Japan or unfamiliar with Japanese-language interfaces, navigating this structure could be a challenge. Ultimately, for me, the appeal lies in their transparency, but the layered and negotiable nature of some fees means you should always do your due diligence before trading.