Japanese retail FX broker Excite One reiterates plans to launch new social trading service in January
The launch of Macaso was initially scheduled for the summer of 2018.
Japanese retail Forex broker Excite One, previously known as ArenaFX, has reiterated its plans to launch a new social trading service, called Macaso, in January 2019. The company used its New Year message to apologize to its clients for keeping them waiting for Macaso for such a long time.
The company explained that it is making efforts to comply with the release schedule and to launch Macaso this month.
Let’s recall that, in December 2018, the company issued an announcement stating that “Macaso” was undergoing a revamp in order to provide better service to its customers. As a result, the development of the system is taking longer than initially expected.
The broker informed its customers back then that the service launch was re-scheduled for January 2019.
Excite One had initially said the service would become available in the summer of 2018. In August 2018, however, the broker told traders that they would have to be patient, as the rollout of Macaso would be delayed.
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 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.
Speaking of social trading, let’s mention the tech issues that Excite One’s ZuluTrade service experienced in October this year. From 18:47 to 22:30 on October 23, 2018 (Tuesday) and from 18:15 to 20:46 on October 29 (Monday), clients of Excite One were unable to log in to “ArenaFX ZuluTrade”. The company managed to restore the service operations, but, back then, it did not elaborate on the causes of the problems. Several days later, the broker said a DDoS attack was responsible for the tech problems related to the accessibility issues.