March has been a great month for multi-asset and foreign exchange (forex) brokers, as coronavirus-related volatility is causing volumes to soar during the month. This week Gaitame has published its volumes for the month, showing a fruitful period for the firm.
In fact, the Japanese retail broker has posted its strongest transaction volume in its history, ¥553.4 billion ($5.1 billion) for the month. When measuring this against the previous month, last month’s transaction volume has increased by more than double, up 149.4 percent.
On a yearly comparison, the growth is even more pronounced, as the transaction for the month of March has increased by 2236 percent, as the corresponding period of the previous year had a monthly transaction volume of ¥171.0 billion.
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It is worth pointing out that the month of February was also a very strong month for the broker. As Finance Magnates reported, during the month of February, Gaitame noted a monthly transaction volume of ¥221.9 billion. Against the previous month, which had a transaction volume of ¥154.6 billion, last month’s figure has risen by 43.5 percent. Therefore, when looking at March’s monthly volume, the growth is even more significant.
Deposit amount faulters for Gaitame
Although March has delivered its strongest monthly transaction volume since Gaitame started recording such figures in 2014, the deposit amount reported in March, however, does not hold up as well.
In particular, Gaitame noted a deposit amount of ¥112.7 billion. When measuring this against February of 2020, the deposit amount in March has actually fallen by 1.3 percent. In fact, it is the weakest figure recorded this year so far.
Nonetheless, on a yearly comparison, Gaitame has managed to achieve an uptick in the deposit amount, climbing from ¥110.8 billion in March of 2019 by 1.7 percent to achieve last month’s figure.