Following on from a solid performance in March, Gaitame, a Japanese foreign exchange (forex) broking giant, has published its trading metrics for the second month of 2019, revealing the weakest results the broker has achieved all year – taking this title from February.
The first quarter, that is from January to March of this year, was an overall solid quarter for the broker. As Finance Magnates reported, the Japanese forex trading business for retail investors said that adjusted revenue was higher by 15.5 percent.
However, April appears not to have been able to keep up with the first three months of the year. This is despite the fact that the number of accounts grew by 0.7 percent from 485,511 in March to 488,774 in April.
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Transaction volume is where the Japanese broker really dropped the ball, as it noted its weakest result since December of 2017, coming in at ¥136.1 billion. When measuring this against the previous month, which had a transaction volume of ¥171 billion, it is lower by 20.4 percent.
April’s Transaction Volume Falls YoY for Gaitame
On a year-on-year comparison, last month’s figure looks just as weak, as April of 2018 had a transaction volume of ¥171 billion – similar to that achieved in March of 2019. When taking a look at the difference, April of 2019’s figure is lower by 20.4 percent.
So far this year, the month of January has achieved the strongest result in terms of transaction volume at ¥272.2 billion. In fact, it was the best result since 2016. When comparing this with April’s result, last month’s transaction volume has fallen by almost 50 percent.
The deposit amount, however, registered a more solid figure during the month of April at ¥111.6 billion. Comparing this against last month, which had a deposit amount of ¥110.8, this is slightly higher by 0.75 percent.