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Drawing from my experience as an independent trader, when evaluating a broker like Yamani, I always look for transparent, detailed information about spreads and how they behave in real-world conditions. Unfortunately, Yamani’s publicly available resources, as summarized, do not provide explicit details regarding whether they offer fixed or variable spreads on their securities trading products. This lack of clarity makes it difficult for me to plan my trading strategy with precision, especially since understanding spread structure is essential for cost calculation and risk management. From my understanding of how regulated Japanese brokers typically operate under the FSA, it’s common to see variable spreads in the securities market, especially during periods of heightened market volatility or major economic announcements. In such conditions, variable spreads usually widen to reflect increased risk and decreased liquidity, which can significantly impact trading costs and execution. Without official confirmation from Yamani, though, I cannot assume their spreads are immune to these industry-standard fluctuations. The absence of a demo account at Yamani also limits my ability to test live trading conditions beforehand, which is something I value highly for assessing both typical and volatile market spreads. For cautious traders like myself, this means an additional layer of due diligence is necessary—direct contact with their customer service or requesting detailed disclosure is advisable before committing capital. Thus, while Yamani’s FSA regulation and long-standing presence inspire some confidence, I remain conservative and recommend evaluating their spread conditions firsthand if consistent trading costs are a priority.