Monex’s robot adviser service grows, TradeStation attracts younger clients in Q1 FY19

Maria Nikolova

Monex Adviser marks investment balance of approximately JPY 1 billion eight months after launch.

Online trading services provider Monex Group, Inc. (TYO:8698) has earlier today posted its key financial and operating metrics for the first quarter of its fiscal year to March 31, 2019, providing some interesting updates on the development of its business in Japan, the United States and the Asia Pacific region.

Overall, one thing is certain – novel technologies are advancing and the profile of the broker’s client base is being reshaped as a result of this.

Monex Adviser, which was launched in October last year, has seen marked development. The investment balance is about JPY 1 billion as of June 30, 2018, compared to a balance pf about JPY 780 million at March 31, 2018. Monex Adviser is a robot adviser service where customers can determine their own investment policy and easily manage their assets with the support of professional advice.

Regarding TradeStation Group, the US subsidiary of Monex Group, new branding and simplified offerings successfully attracted casual traders/millennials and led to the expansion of the customer base in the quarter to the end of June 2018. New customers in the last 18 months are on average 4 years younger than previously, the broker notes.

Let’s also note that there is a record high percentage of smartphone app users among the active US equity traders who use the services of Japanese broker Monex, Inc – 25% in June 2018.

The US business also successfully completed proof of concept to use Facebook chatbots to drive account acquisition. It also established partnership with ClickIPO to offer access to 8 new offerings during the quarter to June 30, 2018.

Monex continues to explore business opportunities in the Asia Pacific region. Monex Securities Australia Pty Ltd started its online securities business in January 2018, making use of the system of the HK-based brokerage subsidiary in order to lighten the infrastructure and offer cost-competitive services. It now seeks to enlarge its customer base.

Regarding Monex Boom Securities (HK), the Hong Kong business of the broker, Monex said it remains in the black in terms of operating income (-64% vs 4Q FYE 2018) despite a large decrease in total operating revenue after deducting financial expenses (-21% vs 4Q FYE 2018) affected by lower market volumes.

A noteworthy development concerning Monex Boom during the relevant period is the launch of a Hong Kong Futures trading service. At the launch of the service, the company said that clients opening futures trading accounts with Monex Boom can trade a set of futures contracts on the Hong Kong Futures Exchange through its “eFutures” trading system, including: Hang Seng Index Futures; Mini-Hang Seng Index Futures; H-shares Index Futures; and Mini H-shares Index Futures.

Monex is also active in China. It provides technology and knowledge of online brokerage business through a joint venture in PRC.

Read this next

Digital Assets

Revolut receives FCA’s go-ahead to launch crypto trading

British fintech and banking firm Revolut has received a regulatory go-ahead to launch its cryptocurrency services in the UK.

Digital Assets

GBTC share is trading at 36% below bitcoin spot price

Grayscale Bitcoin Trust share has widened its discount relative to the underlying cryptocurrency held in the fund, the highest margin ever since its debut in 2013. Digital Currency Group’s flagship GBTC shares traded at a discount of 35.8% to net asset value (NAV) today.

Digital Assets

Crypto lender Nexo investigated by 8 US state regulators

State securities regulators in New York, California, Kentucky, Maryland, Oklahoma, South Carolina, Washington and Vermont are investigating crypto lender Nexo for allegedly failing to register its Earn Interest Product.

Metaverse Gaming NFT

Astar Network’s ad features 329 top brands to support Web3 in Japan

Blockchain innovation hub Astar Network is making strides in promoting the Web3 adoption worldwide. In yet another milestone, the smart contracts platform has run a national newspaper ad in Japan that set a new global record with participation from 329 blue-chip firms.

Digital Assets

Pyth Network welcomes onchain data from crypto market maker Auros

“By sharing our high-frequency trading data with a truly onchain decentralized network, we aim to foster innovation that will lead to better financial solutions for all participants.”

Digital Assets

Tokeny integrates Ownera to boost liquidity of tokenized assets

“The adoption of FinP2P will result in higher liquidity and better access to capital and assets by providing regulated firms with one secure point of connection to multiple digital asset networks across the globe.”

Digital Assets

BingX launches subsidy vouchers to cover user losses in copy trading

“With the introduction of copy trade subsidy vouchers, new users can easily try out trading strategies without incurring losses.”

Digital Assets

Talos expands sales team: Frank van Zegveld, Matt Houston, Hillary Conley

“The extensive leadership and industry expertise of these new hires will enable us to build long-lasting relationships as we continue to build out our global presence in EMEA and beyond.”

Executive Moves

FX and CFD broker Emporium Capital hires industry veteran Robert Woolfe as COO

His past experience within the FX and CFD industry includes top roles at Capital Index, London Capital Group, GKFX, ETX Capital, and IG.  “I’m delighted to be part of the Emporium Capital team and spearheading the brokerages global expansion plans”, he said about the appointment.