Monex postpones launch of robo-advice service “Monex Adviser”

Maria Nikolova

The broker mentions no new date for the launch of the service, which was initially set to go live on October 20, 2017.

Japanese retail Forex broker Monex Inc, a part of Monex Group, Inc. (TYO:8698), today informed its clients of a change in the schedule of the planned rollout of “Monex Adviser”.

In a brief update, the broker said the launch, which was initially scheduled for October 20, 2017, is postponed. The company did not mention any reasons for the delay, nor did it stipulate a new date for the launch.

“Monex Adviser” is a robo-advice service helping to invest in domestic ETFs. It is set to add to Monex’s other similar services – MONEX VISION β and MSV LIFE. The new service is poised to take into account individual preferences, as well as the latest market developments and forecasts.

Monex’s push into robo-advice is not surprising, given that financial services companies are increasingly adopting the latest financial technologies to suit the needs of a wider clientele. Moreover, Monex has shown flair for artificial intelligence (AI) solutions too.

Earlier this year, the broker has announced the start of delivery of a new market analysis report, based on the work of an AI program. To deliver the “Monex AI Report”, the broker has partnered with fintech company Good Moneyger, whose AI solution – VESTA, seeks to reduce chances of investment loss by examining market data and cycles and estimating chances of market crashes.

The report itself is intended to be simple and understandable – it rates the investment score of various asset classes based on a three-stages scale. There is also a “weather forecast” for the global market, with a map reflecting the business confidence in various regions.

Monex is not the first Japanese Forex broker to adopt AI solutions. Kabu.com Securities, a subsidiary of Mitsubishi UFJ Financial Group Inc (TYO:8306), had shortly before that unveiled the launch of a special AI-powered solution for its clients. The tool, named “AlpacaSearch for kabu.com” is developed in co-operation with AI startup AlpacaDB Inc. The AI system scans the share prices of Japan-listed companies in order to identify shares exhibiting similar trends. The AI technology detects correlations that human traders cannot usually notice and thus signals trading opportunities.

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