Retail foreign exchange (forex) broker Gaitame, has published its volumes for the month of June, joining a list of trading providers to report a rebound in trading volumes which have been declining since March.
As Finance Magnates reported, in March of this year, during peak volatility amid COVID-19, Gaitame posted a transaction volume of ¥553.4 billion ($5.1 billion) for the month. When measuring this against the previous month, transaction volume had increased by more than double, up 149.4 per cent.
However, since the highs seen in March, Gaitame has recorded a consecutive decline in volumes first seen in April, and again in May. However, June has managed to buck this trend, with the broker reporting a transaction volume of ¥322.3 billion.
Gaitame records historical volumes in June
Whilst this volume is still lower than that seen in March, June’s transaction volume has increased by 51.4 per cent from the ¥212.8 billion recorded in May 2020. In fact, besides March, June’s volume is the strongest volume achieved so far this year.
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Moreover, besides March of this year, the transaction volume posted in June is the strongest volume seen since November of 2016, which is a very solid performance, particularly considering that the months of June and July usually see lower trading volumes due to it being the summer period, when investors are more likely to be away on holiday.
June of 2019 achieved a monthly transaction volume of ¥155.3 billion. Therefore, the volume recorded last month has more than doubled, rising by 107.6 per cent on a yearly comparison.
The deposit amount on Gaitame in June, however, has fallen on a monthly comparison, coming in at ¥112.6 billion. This represents a slight drop of 0.2 per cent from the ¥112.8 billion achieved in May of 2020.
The number of accounts rose from 512,577 accounts in May of 2020 up to 513,936 accounts. This represents a growth of 1,359 accounts or 0.3 per cent.