Following on from a slump in the summer months, Gaitame, a Japanese foreign exchange (forex) broking giant, has published its trading volumes for the month of August, revealing a solid uptick in the transaction volume.
June and July were slow in terms of volatility in the forex space. Because of this, a lot of brokers and trading providers reported a drop in client activity during the two months. August, however, has shown a return in solid trading volumes for many firms.
Gaitame appears to be no different. By the end of August, the Japanese firm had 498,028 accounts. This is higher than the 496,234 accounts by the end of July by 1,794 or 0.4 percent, which is in line with the average monthly account growth.
Taking a look at the deposit amount, the broker has reported the strongest value all year in August, coming in at ¥114.8 billion (around $1.1 billion). When measuring this against the previous month, which recorded a deposit amount of ¥133.6 billion, it is slightly higher by 1.04 percent.
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Comparing this value with the deposit amount achieved in August of 2018, last month’s deposit amount has also come out ahead, as August of last year had a deposit amount of ¥113.7 billion. Therefore, last month’s figure is higher by 0.9 percent year-on-year.
Gaitame sees solid transaction volume in August
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.
That is, until now, as August managed to report a transaction volume of ¥270.9 billion. This is considerably higher than the ¥143.5 billion transaction volume reported in July. In fact, it is higher by 88.8 percent on a monthly comparison.
Last month’s transaction volume also manages to hold up on a yearly comparison, as August of 2018 posted a transaction volume of ¥212.9 billion. In terms of growth, August of 2019’s transaction volume has risen by 27.2 percent.