Gaitame, a foreign exchange (forex) Japanese broker, is one of the latest trading providers to publish its trading volumes for January, and similar to other industry players, the firm has managed to achieve a monthly uptick in volumes.
The final months of 2019 delivered weak trading volumes for brokerages across the industry. In fact, trading throughout the whole of last year was mostly down. However, many brokers have so far managed to report at least a monthly growth in volumes for the first month of 2020.
For Gaitame, the total transaction volume during the month was ¥154.6 billion ($1.41 billion). When measuring this against the previous month, which had a transaction volume of ¥124.8 billion, the broker has achieved a growth of approximately 23.9 percent.
Although the FX broker has posted a monthly growth for transaction volume, the same can’t be said on a yearly scale. In particular, January of 2019 had a transaction volume of ¥272.2 billion. Therefore, last month’s result is lower by about 43.2 percent.
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The monthly deposit amount reported by Gaitame for January 2020 was ¥113.74 billion. This is slightly higher than the ¥113.70 billion deposit amount noted in December of 2019 by around 0.04 percent.
Unlike transaction volume, January’s deposit amount has actually managed to increase on a yearly comparison, as the same period of the previous year had a deposit amount of ¥109.47 billion. Therefore, the deposit amount has increased by approximately 3.9 percent year-on-year in January of 2020.
The number of accounts also increased by about 0.2 percent or 962 accounts in January, rising from 504,188 accounts in December of last year to reach 505,150 accounts.
Gaitame sees weak 2019 performance
Today’s results come off the back of Gaitame reporting a weak performance for not only the fourth quarter of 2019 but the whole of last year. As Finance Magnates reported, the broker’s revenues were lower by 17.5 percent during the quarter and a drop in adjusted revenues of 2.7 percent for the whole year.