Gaitame is one of the latest trading providers to publish its volumes for the month of November, with the Japenese foreign exchange (forex) broker joining a long list of firms to report weak figures for the month.
As Finance Magnates has reported extensively, November has proven to be a tough month for brokers, with Saxo Bank recording its worst performance since at least 2016 and other trading providers also saw their volumes drop.
Gaitame posts record low transaction volume
For Gaitame, however, when it comes to transaction volume, the situation is even worse than that of Saxo Bank, as during the month the Japanese firm reported a transaction volume of ¥111.3 billion ($1.02 billion).
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Measuring this against the previous month, which had a transaction volume of ¥163.0 billion, last month’s figure has fallen by 31.7 percent. It has also dropped on an annual comparison by 34.2 percent, down from ¥169.1 billion.
The transaction volume recorded in November is the lowest Gaitame has recorded since the first five months it started recording transaction volumes back in 2014. In November of 2016 – the eighth month of operations for Gaitame, the broker posted a transaction volume of ¥403.6 billion.
Deposit amount also fell on a month-on-month comparison. Specifically, for the month, the broker noted a deposit amount of ¥113.9 billion. This is lower than the ¥114.0 billion deposit amount recorded in October of 2019 by 0.1 percent.
When measuring this against the same period of the previous year, which had a deposit amount of ¥115.6 billion, this represents a fall of 1.5 percent on a yearly comparison. The deposit amount posted in November, however, is not the lowest value for the broker this year. It is stronger than each individual month in the first half of 2019.