Japanese foreign exchange broking giant Gaitame has published its trading metrics for July 2018. Although the number of accounts grew, the volume of transactions was down both on a yearly and monthly comparison.
Starting with the number of client accounts, the broker saw a total of 465,162 in July. This was a marginal increase of 2,697 accounts or 0.6 percent from the previous month. In July 2017 Gaitame experienced 450,502 client accounts. Therefore, the number of accounts for this July is up by around three percent year-on-year.
In October last year, client accounts hit their lowest point in the last 12 months where it reached 443,485 accounts. This followed the highest number of client accounts for 2017 in September, which saw 454,941 registrants. However, since October’s lows, client accounts have since seen consistent growth with July being no exception.
Viberate Teams Up with Blockparty to Deliver World’s First Live Event NFTGo to article >>
Taking a look at the group’s deposit totals in July 2018, the broker disclosed a figure of $1.076 billion (119.6 billion yen). This is virtually unchanged month-over-month, with June’s deposit totals coming in at 1.073 billion (119.3 billion yen), only 0.2 percent less than July’s figure. On a yearly basis, deposit totals for July 2018 were up by about five percent.
Since December 2016, the total deposit amount for the broker had been on a consistently upward trend. However, March’s volumes saw this trend falter for the first time in 15 months. Although April did make a good recovery and saw volumes in-line with the upward trend, May, June and now July have not been able to get back to prior levels.
Transaction volumes continue its downward trend on Gaitame
Despite an increase in client accounts, the volume of transactions was the worst performing category for the broking giant. In July, the transaction volume was $1.7 billion (189 billion yen). This is down four percent from June’s figure of $1.8 billion (197 billion yen) and slightly down by 0.6 percent from the same period last year which recorded a transaction volume of $1.7 billion (190 billion yen).
For Gaitame’s trading volumes in June this year, transaction volumes were yet again the only segment to report a month-on-month decline. While in July the decline was somewhat small, the total volume in June was $29.8 billion (197.2 billion yen), down 18 percent from May’s volume of $35.2 billion (233 billion yen).