Japan’s retail FX broker Excite One reports ZuluTrade access problems

Maria Nikolova

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).

Read this next

Digital Assets

Zumo launches B2B ‘Crypto-as-a-Service’ solution for brokers

The new product, Zumo Enterprise, also features an embedded ESG and net zero strategy.

Technology

Top Tools to Add to Your Trading Platform to Delight and Retain Traders

The online trading boom that started during the pandemic-led lockdowns is abating. This is in part due to sustained market volatility which seems to be discouraging new investors. For example, day trading volumes in the US for retail investors declined in the last 2 quarters of 2021.  

Technology

Embedded finance platform Alviere taps Marqeta for branded card issuance in Europe and UK

Alviere has recently raised $70 million to fuel the ongoing expansion across the European region and the United Kingdom.

Retail FX

Overcharts partners with dxFeed for CME Group Market Depth

“More and more traders are using Market Depth while conducting volume analysis. Its primary function is to help traders identify potential support and resistance levels.”

Digital Assets

CoinGecko expands collaboration with CER.live security rating

CoinGecko, one of the earliest crypto data aggregators, has integrated the security score data from the CER.live rating. The trust assessments given to crypto projects will be integrated into their pages on CoinGecko website to draw users’ attention to the importance of security.

Metaverse Gaming NFT

Klaytn taps Parity Technologies to build infrastructure for Klaytn-Substrate

Klaytn has initiated a collaboration with blockchain infrastructure company Parity Technologies to strengthen its tech stack and meet the demands of enterprises looking to harness the crypto technology.

Retail FX

US Retail FX brokers suffer steep fall in client deposits, Trading.com racked up $46K

Retail FX deposits at US brokerages, which have been struggling to eke out a profit in a strict regulatory environment, dropped in March 2022 by $35 million, CFTC data showed.

Retail FX

eToro supports Immutable X (IMX), Livepeer (LPT) and Cartesi (CTSI)

Israeli social trading network eToro has added support for trading three new tokens. Immutable X (IMX), Livepeer (LPT) and Cartesi (CTSI) are the next coins to join eToro’s list of featured digital assets.

Executive Moves

LiquidityBook hires Fintech veteran Jonathan Cross to lead EMEA business

LiquidityBook, a provider of FIX and OMS trading solutions for both the buy and sell-side, has added Jonathan Cross to its business team for the EMEA region.

<