Monex to terminate offering of Monex Signal service

Maria Nikolova

The Japanese broker will stop accepting new applications for the service, effective August 22, 2017.

Monex Inc, the Japanese online trading subsidiary of Monex Group, Inc. (TYO:8698), is terminating the offer of its investment advisory service Monex Signal.

According to an announcement, out earlier today, the broker will stop accepting new applications for the service effective August 22, 2017. The service itself will be closed on September 29, 2017.

The company attributed its decision to a drop in the number of users of the service. The change will affect “Monex Signal”, “Monex Signal Futures” and “Monex Signal US Stock”, which have been offered by the company since 2012. The services aimed to provide investment advice based on the judgement of automated systems, or robots.

Let’s note that the Japanese broker is not abandoning the signal services as a whole. While “Monex Signal” is facing its end, new services are launched. Monex has just announced a partnership with Terrace Co, which will see Signal Trader strategies offered to Monex’s clients.

Also, let’s recall the recent launch of a special artificial intelligence market report by the broker in a partnership with Good Moneyger, in a move proving that Monex is not bidding goodbye to robots.

Monex Group continues to reshape as it seeks to grow further. According to the Group’s report for the quarter to June 30, 2017, Monex plans to expand its operations in the Asia Pacific region. In the report, Monex said the launch of its online securities business in Australia is scheduled for the second quarter of the financial year to March 31, 2018 – that is, the July-September 2017 quarter.

The business will be operated by Monex Securities Australia Pty Ltd, and is set to use the systems of Monex’s brokerage subsidiary based in Hong Kong.

The Hong Kong subsidiary of the broker – Monex Boom Securities (HK) registered a loss due to one-time financial expenses (a loan). Excluding financial expenses, however, revenues were 21% higher quarter on quarter, whereas net financial income rose 1% quarter on quarter.

Monex also operates in China via a joint venture, providing support and technology services. This joint venture made a profit in the April-June 2017 period, the first quarterly profit for Monex’s PRC business since its establishment.

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