Ando Securities Forex Broker provides real users with 1 positive reviews, * neutral reviews and 1 exposure review!
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Software Index
Just evaluating the customer service here i faced some technical issue with the site and the customer service did a fantastic job and they were with me untill my problem solved. Great work.
Is there anyone investing here before? My account was frozen some time ago. Now the web can't be opened.
Ando Securities has garnered a mixed reputation in the forex and trading community, with user experiences ranging from commendable customer service to concerns about withdrawal issues and potential scams. This review aims to provide a comprehensive overview of Ando Securities, highlighting key features, user feedback, and expert opinions.
Note: It is important to recognize that different entities may operate under the same name across regions, which can affect user experiences and regulatory oversight. This review strives to ensure fairness and accuracy by referencing multiple sources.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 6.0 |
| Tools and Resources | 5.5 |
| Customer Service and Support | 7.0 |
| Trading Setup (Experience) | 6.5 |
| Trustworthiness | 5.0 |
| User Experience | 5.5 |
| Additional Rating (Optional) | 6.0 |
How We Rate Brokers: Ratings are derived from user reviews, expert insights, and factual data regarding the broker's offerings and performance.
Founded in 1944, Ando Securities Co., Ltd. is a Japan-based brokerage firm that operates under the regulation of the Financial Services Agency (FSA) of Japan. The firm is headquartered in Nagoya, Aichi Prefecture, and has established itself as a notable player in the financial services industry. However, it is essential to note that Ando Securities does not offer popular trading platforms like MT4 or MT5, instead utilizing its proprietary platform, "Chura Net 24." This platform provides access to various financial instruments, including stocks, investment trusts, bonds, and futures/options, but notably lacks forex trading options.
Regulated Regions: Ando Securities is regulated in Japan, holding a retail forex license. However, concerns have been raised regarding the effectiveness of this regulation, especially given reports of withdrawal issues and account freezes.
Deposit/Withdrawal Currencies: The broker primarily operates in Japanese Yen (JPY), and specific details regarding cryptocurrency transactions are not mentioned.
Minimum Deposit: The minimum deposit requirement is relatively high, set at 1 million JPY for face-to-face transactions and 300,000 JPY for internet trading.
Bonuses/Promotions: Information on bonuses or promotions is limited, which may deter potential clients looking for incentives to start trading.
Tradeable Asset Classes: Ando Securities offers a variety of asset classes, including stocks, investment trusts, bonds, and futures/options. However, it does not provide access to forex, commodities, indices, or cryptocurrencies, which may limit appeal for forex traders.
Costs (Spreads, Fees, Commissions): The brokerage commissions for domestic stocks range from 0.63250% to 0.085360% of the contract value, with a minimum fee of 2,750 JPY. Additionally, various management and name transfer fees apply, but information on spreads is not explicitly detailed.
Leverage: Specific leverage details are not provided in the sources, which may be a concern for traders looking for leveraged trading opportunities.
Allowed Trading Platforms: The primary trading platform is "Chura Net 24," which is accessible via smartphones and PCs. However, the absence of widely-used platforms like MT4 or MT5 may limit usability for some traders.
Restricted Regions: While specific restricted regions are not mentioned, potential clients should verify their eligibility based on local regulations.
Available Customer Service Languages: Customer support is primarily offered in Japanese, which may pose challenges for non-Japanese speakers.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 6.0 |
| Tools and Resources | 5.5 |
| Customer Service and Support | 7.0 |
| Trading Setup (Experience) | 6.5 |
| Trustworthiness | 5.0 |
| User Experience | 5.5 |
| Additional Rating (Optional) | 6.0 |
Account Conditions (6.0): The high minimum deposit requirement may deter some traders. However, the availability of multiple account types, including margin trading and general securities accounts, provides some flexibility.
Tools and Resources (5.5): The lack of popular trading platforms and limited educational resources may be a drawback for new traders seeking comprehensive tools.
Customer Service and Support (7.0): Positive feedback regarding customer service indicates that representatives are responsive and helpful, although operating hours are limited.
Trading Setup (Experience) (6.5): The proprietary trading platform offers reasonable functionality, but its lack of customization options may not meet the needs of all traders.
Trustworthiness (5.0): Concerns about withdrawal issues and negative user reviews regarding potential scams significantly impact the trustworthiness rating of Ando Securities.
User Experience (5.5): User experiences vary, with some praising the platform's ease of use while others report significant issues, particularly regarding account access and withdrawals.
In conclusion, while Ando Securities presents itself as a regulated entity with a range of financial products, potential users should exercise caution and conduct thorough research before engaging with the broker. The mixed reviews and concerns regarding withdrawal issues highlight the importance of understanding the risks involved with this brokerage.
