Gaitame Volumes Fall 42% in September From August Highs

After a welcome uptick in trading volumes in August, Gaitame, a Japanese foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term) broker, has published its volumes for September, which have not managed to hold up as well.

In September, multiple trading providers, particularly within Japan, have reported a monthly drop in trading volumes, down from highs experienced in August, with Gaitame being no different.

During the month, Gaitame reported a transaction volume of ¥156.2 billion ($1.5 billion). This represents a fall of 42.3 percent when measured against the previous month, which had a transaction volume of ¥270.9 billion.

So far this year, the Japanese broker has been struggling with reporting solid transaction volumes. In fact, since January posted a transaction volume of ¥272.2 billion, no other month has been able to come close to this figure - except for August, with September falling into the old pattern.

Not only is last month’s transaction volume lower on a monthly comparison, but it has also fallen on a year-on-year measure. That’s because September of 2018 reported a transaction volume of ¥160.4 billion. This means last month’s figure has declined by 2.6 percent year-on-year.

Deposit amount falls on Gaitame

The deposit amount also doesn’t look good for Gaitame, with the broker posting a deposit amount of ¥114.2 billion. When weighing this against the previous month, which had a deposit amount of ¥114.3 billion, it has fallen by 0.1 percent.

When looking at the deposit amount, it has also fallen on an annual comparison, as September of 2018 noted a figure of ¥144.3 billion. This means last month’s value is down by 0.07 percent year-on-year.

During September, Gaitame reported the total number of accounts reached 500,057. This is higher than the 498,028 accounts in August by 2,479 accounts or 0.5 percent, which is in line with the average monthly growth.