FX Broker Gaitame Reports Mixed Volumes in October

Gaitame, a Japanese foreign exchange (forex) broker, has published its trading volumes for the month of October this week. Like many trading providers, the firm posted mixed results for the month.

September was a generally bad trading month for brokers, particularly in Japan. As Finance Magnates reported, the transaction volume posted by Gaitame fell by 42 percent against the previous month.

While September produced weak results across the board, October’s figures are more mixed. In particular, the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term broker recorded a transaction volume of around ¥163.0 billion ($1.5 billion).

When measuring this against the previous month, which posted a transaction volume of ¥156.2 billion, October’s transaction volume has increased by 4.3 percent. However, it is still lower than the ¥270.9 transaction volume achieved 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 – except for August, with September falling into the old pattern.

Deposit amounts fall on Gaitame

Gaitaime has also published its deposit amount figures. It is here, where the broker did not perform so well in October. Specifically, the firm posted a deposit amount of ¥114.0 billion during the month.

Unlike transaction volume, the deposit amount has actually fallen on a monthly comparison, dropping from ¥114.2 billion in the previous month. As a percentage, this represents a slight decline of about 0.1 percent.

This drop in the deposit amount comes despite the fact that the broker reported an uptick in the number of accounts during the month of October. By the end of the month, the broker had 501,793 accounts, up from 500,057 accounts from the end of September.