Gaitame Volumes Fall 42% in September From August Highs
After a welcome uptick in trading volumes in August, Gaitame, a Japanese foreign exchange (forex) broker, has published its volumes for the month of September, which have not managed to hold up as well.
In September, multiple trading providers, particularly within Japan, have reported a monthly drop in trading volumes, down from highs experienced in August, with Gaitame being no different.
London Summit 2019 Launches the Latest Era in FX and Fintech – Join Now
During the month, Gaitame reported a transaction volume of ¥156.2 billion ($1.5 billion). This represents a fall of 42.3 per cent when measured against the previous month, which had a transaction volume of ¥270.9 billion.
So far this year, the Japanese broker has been struggling with reporting solid transaction volumes. In fact, since January posted a transaction volume of ¥272.2 billion, no other month has been able to come close to this figure – except for August, with September falling into the old pattern.
Not only is last month’s transaction volume lower on a monthly comparison, but it has also fallen on a year-on-year measure. That’s because September of 2018 reported a transaction volume of ¥160.4 billion. This means last month’s figure has declined by 2.6 per cent year-on-year.
Deposit amount falls on Gaitame
The deposit amount also doesn’t look good for Gaitame, with the broker posting a deposit amount of ¥114.2 billion. When weighing this against the previous month, which had a deposit amount of ¥114.3 billion, it has fallen by 0.1 per cent.
When looking at the deposit amount, it has also fallen on an annual comparison, as September of 2018 noted a figure of ¥144.3 billion. This means last month’s value is down by 0.07 per cent year-on-year.
During the month of September, Gaitame reported the total number of accounts reached 500,057. This is higher than the 498,028 accounts in August by 2,479 accounts or 0.5 per cent, which is in line with the average monthly growth.
Source: Read Full Article