Gaitame, a Japanese foreign exchange (forex) broking giant, has published its trading metrics for the first month of 2019 this Friday. Although the firm has struggled for the past couple of months, trading volumes soared in January, more than reversing November and December’s slump.
During January, the number of accounts opened on the broker surpassed 480 thousand, hitting 480,038. This is 3,291 more accounts than there was in December, which represents a growth of 0.7 percent which is in line with the average monthly growth rate.
To compare, in December, the broker had a total of 476,747 client accounts. This was a slight increase of 1,814 accounts, or about 0.4 percent, from the previous month which is close to the monthly average increase.
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Transaction Volumes on Gaitame Achieved Best Result Since 2016
The transaction volume achieved during January is where Gaitame really shined, with the broker achieving a transaction volume of ¥272.2 billion. Not only is this 62.9 percent higher than that achieved in December of 2018, which was ¥167.1 billion, it is also the highest transaction volume Gaitame has recorded since February of 2016.
The transaction volume reported in January of 2019 also still holds up on a yearly comparison, as the same time period of the previous year, January 2018, had a transaction volume of ¥251.8 billion, which is 8.1 percent less than that achieved in the current period.
January of 2018 was the second strongest month in terms of transaction volume in 2018, slightly behind February. The lowest month of the year was September, followed by November and then December.
Despite a strong uptick in the number of accounts and transaction volume in the first month of 2019, deposit amount did fall short on a monthly and yearly comparison. Specifically, the deposit amount was ¥109.5 billion. This represents a drop of 5.8 percent when compared to the previous month and 7.7 percent year-on-year.