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As someone who has evaluated numerous brokers over the years, I find tobu-sec’s fee schedule to be both transparent and fairly traditional, especially compared to global peers. When I looked closely at their commission structure, it became clear that their equity and bond trading fees follow a tiered format, based on contract or trade amount. For stocks, their system is straightforward: for contract amounts under one million yen, the commission is 1.265% of the trade value, with a minimum fee of 2,750 yen. As the contract size increases, the percentage decreases, but flat fees are added, particularly for higher tiers—this is something I always assess carefully to ensure it aligns with my trading volume and style. Bond commission rates are also volume-dependent; for example, government bond transactions under five million yen are charged at 44.0 sen per 100 yen face value, and the rate drops as transaction size grows. In my experience, such declining rates can benefit institutional-size orders, but may be less competitive for casual investors. When it comes to options, fees begin at 4.4% of the contract price (minimum 2,750 yen) for small trades, tapering down—with both percentage rates and flat fees—on larger large contracts. I note there’s no direct information on spreads, which could mean equities and bonds are transacted at market rates, or that spread information is simply not disclosed. For me, the absence of spread data means I would need to inquire further if I was concerned about all-in costs. Overall, I appreciate that tobu-sec’s published commission tables clearly lay out what to expect, though, as an experienced trader, I always recommend factoring in these charges carefully against your strategy, especially since transaction costs can erode net returns over time.