Japanese foreign exchange broking giant Gaitame has announced its trading metrics for June 2018. Although the results do show growth on both a year-on-year and month-on-month basis for the number of client accounts and total deposits, the growth was marginal.
Looking at the number of client accounts, June’s volumes came in at 462,465. This was an increase, albeit by only 0.5 percent, from May’s 2018 volumes. Taking a look at June’s 2017 figures, this was an increase of three percent.
Client accounts have seen consistent growth since its lowest point over the past 12 months in October where it reached 443,485. This followed the highest number of client accounts for 2017 in September, which saw 454,941 registrants.
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The deposit amounts also saw consistent monthly and yearly gains. Total deposits for June 2018 was $18 billion (119.3 billion yen). This is up 0.6 percent from May’s data. When compared to the same time period in 2017, the growth does look more impressive, posting an increase of slightly more than five percent.
The total deposit amount for Gaitame had been on an upward trend since December 2016. March this year was the first month to falter, breaking 15 months of consecutive growth. Since then, both May and now June has posted lower month-on-month figures, suggesting a lull for the forex broker.
Transaction volume declines
Transaction volume for June this year, on the other hand, was the only segment in the report to see month-on-month declines. The total volume was $29.8 billion (197.2 billion yen), down from May’s volume of $35.2 billion (233 billion yen). This is a notable decline of 18 percent.
Results for the broker’s transaction volumes have been a mixed bag over the past 12 months. February 2018 posted the biggest increase of volume in the past 12 months with the broker experiencing a transaction volume of $38.7 billion (255.8 billion yen).