Japanese retail FX broker Excite One reschedules launch of social trading network Macaso for 2019
The company apologizes to its customers for the delay and says the launch is scheduled for January 2019.
The company explains that “Macaso” is currently 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 informs its customers that the service launch is now scheduled for January 2019. Account opening notices will be send to clients when the service starts operating.
Excite One had initially said the service would become available in the summer of 2018. In August this year, 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 recent tech issues that Excite One’s ZuluTrade service experienced. 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.