As volatility returns to the foreign exchange (forex) markets in 2020, yet another trading provider has published its volumes for February, with Gaitame also achieving a solid performance.
After a mixed and often lackluster performance in 2019, so far this year has provided a different scenario for the retail Japanese broker, with both January and now February posting solid trading volumes. However, Gaitame is not alone in this, with many brokers also reporting a solid start to the new year.
Gaitame volumes increase by 43.5%
In particular, during the month of February, Gaitame noted a monthly transaction volume of ¥221.9 billion ($2.1 billion). When measuring this against the previous month, which had a transaction volume of ¥154.6 billion, last month’s figure has risen by 43.5 percent.
February’s transaction volume has also managed to hold its own against the same period of the previous year, which had a transaction volume of ¥145.7 billion. Therefore, volumes have increased by 52.2 percent year-on-year.
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Taking a look at the deposit amount for February, Gaitame has also seen a healthy increase here. Specifically, the deposit amount climbed from ¥113.7 billion in January of 2020 by 0.3 percent to reach ¥114.1 billion.
On a yearly scale, the deposit amount has grown by 3.8 percent on a yearly comparison, up from around ¥110.0 billion in February of last year. The number of accounts also increased, with 1,187 new accounts added, bringing the total number of accounts up to 506,337.
Volatility returns to FX markets
Today’s results come off the back of Gaitame reporting a weak performance for not only the fourth quarter of 2019 but the whole of last year. As Finance Magnates reported, the broker’s revenues were lower by 17.5 percent during the quarter and a drop in adjusted revenues of 2.7 percent for the whole year.