Gaitame, a Japanese foreign exchange (forex) broker, has published its trading volumes for the month of August. Although more accounts were opened during the month, transaction volume didn’t increase from the previous month.
In the month of August, Gaitame added 1,775 new accounts, which translates to a monthly growth of 0.34 per cent. Despite this uptick in accounts, transaction volume came in at ¥296.5 million.
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When measuring this against the previous month, which recorded a monthly transaction volume of ¥297.3 million in July, the transaction volume has declined by 0.26 per cent. As Finance Magnates reported, July’s transaction volume had fallen by 7.7 per cent against the previous month, as June experienced an uncharacteristic surge in volume.
Zooming out to look at how transaction volume measures up on a year on year comparison for Gaitame, August of 2019 had a transaction volume of ¥270.9 million. Therefore, last month’s volume is stronger by 9.45 per cent on an annual measurement.
The deposit amount achieved by Gaitame in August, however, managed to post an increase month on month, rising from ¥113.5 million in July up to ¥114.1 million in August. This translates to an uptick of 0.55 per cent.
However, unlike transaction volume, Gaitame’s performance has not improved on a yearly scale. In fact, the deposit amount has shrunk by 0.19 per cent, falling from ¥114.3 million in August of 2019.
Gaitame chases March highs
Gaitame’s volumes have been falling since the beginning of the year. As Finance Magnates covered, the brokerage reported record volumes for March when the COVID-19-induced market volatility pushed trading volumes higher.
Specifically, Gaitame posted a transaction volume of ¥553.4 billion for March. Compared to the previous month, this was a jump of 149.4 per cent.
Since March’s surge in volumes, the broker has consistently been reporting declining volumes, with an unexpected surge in June.
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