Japan’s retail FX broker Excite One reports ZuluTrade access problems
This is the second time in less than a week that the broker reports such issues.
Clients of Japanese online trading company Excite One, formerly known as ArenaFX, have experienced issues with accessing social trading service “ArenaFX ZuluTrade”.
Earlier today, the broker confirmed that there are tech problems related to the service. In particular, traders who wish to log in via the “ArenaFX ZuluTrade” web version and mobile app have been unable to do so. The company apologized for the inconvenience caused to its customers and said it was investigating the reasons for the issues.
Let’s note that this is the second time that Excite One reports such issues in less than a week. On October 23, 2018, the broker confirmed the same problems with “ArenaFX ZuluTrade”. Although it managed to restore the service operations, the company did not elaborate on the causes of the problems.
In August this year, Excite One said it would delay the planned launch of social trading service Macaso.
The company apologized to its customers for making them wait for the start of the service, especially after the registration process had been open for a while. However, the wait has to continue, and the broker promised 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 had initially indicated that it would be launched “this summer”.
Macaso is set to be 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.
The broker has promised 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 2017, 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).