Gaitame Reports Mixed Volumes in June, Deposit Amount Rises

Transaction volume, however, fell on a month-on-month comparison.

After a solid uptick in trading volumes in May, Gaitame, a Japanese foreign exchange (forex) broking giant, has published its trading volumes for June, revealing another solid month for the firm.

As Finance Magnates reported, May noted a recovery for the broker, after a sluggish month in April. Despite a 0.7 percent growth in accounts, the firm noted its weakest transaction volume since December of 2017.

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During the month, Gaitame reported an increase of 2,508 accounts or 0.5 percent from 491,542 accounts in May to reach a total of 494,050 accounts by the end of Jube. Since June of 2018, the number of accounts has grown by 31,585 accounts.

Taking a look at the deposit amount, the broker reported the strongest result all year in June of ¥113.0 billion ($1.04 billion). This is stronger than May’s figure of ¥112.1 billion by 0.8 percent. This is also higher by 1.2 percent than April’s deposit amount of ¥111.6 billion. 

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When comparing this year-on-year, last month’s deposit amount is actually lower than the same month of last year. Specifically, June of 2018 noted a deposit amount of ¥119.3 billion. Therefore, June of 2019’s deposit amount is 5.3 percent lower.

Gaitame reports drop in transaction volume in June

During the month, Gaitame reported a transaction volume of ¥155.3 billion. This figure, however, is lower on a month-on-month comparison by 16.4 percent from the ¥185.7 billion reported in May.

When looking at the transaction volume achieved in June of 2018, which was ¥197.2 billion, last month’s value is even lower. Specifically, it has fallen by 21.3 percent year-on-year.

So far this month, June has delivered mixed results for brokers. The Moscow Exchange (MOEX) noted a drop in its forex trading volumes during the month, whereas Fastmatch reported mixed results.

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