Japanese foreign exchange broking giant Gaitame has published its trading metrics for August 2018. Although account numbers grew, total deposits were down on yearly and monthly bases.
Starting with the number of client accounts, the broker saw a total of 467,518 in August. This was a marginal increase of 2,356 accounts, or 0.5 per cent, from the previous month. In August 2017 Gaitame maintained 452,633 client accounts. Therefore, the number of accounts this August is up by around three per cent year-on-year.
In October last year, for the first time in years, client accounts experienced a month-on-month drop, hitting 443,485. This followed the company seeing 454,941 registrants in September, its highest figure for 2017. However, since October’s lows, client accounts have seen consistent growth with August being no exception.
Going Past the Great Wall: Things to Consider When Entering the Asian MarketGo to article >>
Looking at the group’s deposit totals in August of 2018, the broker disclosed a figure of ¥113.7 billion ($1.02 billion). This is a drop both month-on-month and year-on-year. In July this year, the broker saw ¥119.6 billion in deposit totals, meaning that August’s figure is down 5.2 per cent month-on-month. Compared to the same period last year, the figure represents a 1 per cent drop.
Since December 2016, the total deposit amount for the broker had been on a consistently upward trend. However, March’s volumes saw this trend falter for the first time in 15 months. Although April did see a good recovery and volumes in-line with the upward trend, May, June, July and now August have not been able to get back to prior levels.
Transaction volume on Gaitame sees the first uptick in months
For the first time since May this year, Gaitame saw a month-on-month uptick in transaction volumes. Specifically, the volume reached ¥212.9 billion in August. Compared to July, where the figure was ¥189 billion, this is an increase of 11 per cent. On a yearly basis, August 2018 volume is also up by around 6 per cent.