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In my experience with brokers like CITIC SECURITIES, understanding the fee structure is crucial before opening any trading account. CITIC SECURITIES does charge commission fees for transactions; however, there is no mention on their official information of specific ECN or raw spread accounts, nor do they detail exact per-lot commissions. What stands out to me is that their product suite focuses on securities, IPO subscriptions, grey market, options, and algorithmic trading, rather than classic spot forex trading where ECN or raw spread accounts are the norm. I have also noticed that the broker requests users to refer to the official website’s fee schedule for transaction details, and does not publish clear minimum deposit requirements or fee specifics up front. To me, this lack of transparency complicates accurate cost assessment, which is a red flag when comparing brokers for active trading strategies. Based on this, I would personally exercise considerable caution and avoid assuming an ECN fee model applies here. The risks highlighted by frequent withdrawal issues and exposure reports also reinforce my view that any potential costs or fee arrangements should be clarified in writing directly with the broker before depositing funds. For serious traders, fully understanding all costs is vital to protect capital and manage risk—if a broker is not upfront, I consider that a major drawback.