Clients of Japanese retail FX broker Excite One have to wait for new social trading service

Maria Nikolova

The company apologizes to its clients about making them wait but does not specify a date for the launch of Macaso.

Japanese retail Forex broker Excite One, formerly known as ArenaFX, has earlier today posted a brief notice concerning the planned launch of social trading service Macaso.

The company apologizes to its customers for making them wait for the start of the service, especially after the registration process has been open for a while. However, the wait has to continue, and the broker promises that it will keep its customers informed about the progress of the preparation of Macaso. There is still no specific date for the launch of the service. Excite One has initially indicated that it will be launched “this summer”.

So, what is Macaso? Macaso is a social trading network that enables traders to follow signal providers or to trade at their own discretion. There is no minimum deposit requirement but traders have to make sure their account balance meets margin criteria for the trades they have chosen to enter and the signals they have decided to follow.

Macaso users can also implement certain settings, concerning the protection of their account balance.

The broker has promises that the service will start with 100 signal providers that were selected according to rigorous criteria. The signal providers include manual traders and automated programs. Traders are allowed to follow multiple signal providers as long as their accounts can handle it.

In September last year, the broker got a new owner – online services provider Excite Japan Co., Ltd. (TYO:3754). The deal involved the acquisition of 4,702 shares of the outstanding share capital of the broker and is valued at JPY 159.9 million. Following the acquisition, Excite owns a stake of 88.9% in ArenaFX (now known as Excite One).

Nippon RAD Inc. (TYO:4736), the previous owner of the controlling stake in ArenaFX explained back then that the deal will allow it to focus on its core technology operations. It added that it will continue to support ArenaFX with regard to financial technology.

Read this next

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

Digital Assets

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.

Digital Assets

Prisma Finance suffers $10 million crypto exploit, attack ongoing

Liquid staking protocol Prisma Finance fell victim to a security exploit on March 28, resulting in nearly $10 million in Prisma mkUSD and wrapped stETH being stolen by hackers.

Digital Assets

Masa and LayerZero: Bridging Blockchains for Data Sovereignty

Masa Network is poised to revolutionize the personal data landscape with its upcoming launch as a cross-chain platform, making it accessible on a variety of blockchains right from the start.

<