WikiFX

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In my experience as a trader, regulatory oversight is among the first things I look for when evaluating any financial firm. With tobu-sec, I found they are regulated in Japan by the Financial Services Agency (FSA), which adds a measure of trustworthiness for me. The FSA is widely recognized for its strict approach toward financial supervision and investor protection. Tobu-sec holds a retail forex license under the name 東武証券株式会社, with license number 関東財務局長（金商）第120号. This license status means that the company is required to comply with all the regulations and standards imposed by the Japanese authorities, especially regarding transparency, capital requirements, and client asset protection. It’s important to note, though, that while tobu-sec is properly registered and monitored by the Japanese FSA, WikiFX did highlight a “suspicious scope of business” and a “medium potential risk.” Personally, this motivates me to stay cautious and dig more deeply into the company's actual operations and their adherence to licensing requirements over time. Ultimately, while regulation by the FSA provides a foundation of legitimacy, I always consider it as just one part of my overall assessment before deciding to engage with any broker.