After a solid uptick in trading volumes in May, Gaitame, a Japanese foreign exchange (Forex ) broking giant, has published its trading volumes for June, revealing another solid month for the firm.
As Finance Magnates reported, May noted a recovery for the broker, after a sluggish month in April. Despite a 0.7 percent growth in accounts, the firm noted its weakest transaction volume since December of 2017.
During the month, Gaitame reported an increase of 2,508 accounts or 0.5 percent from 491,542 accounts in May to reach a total of 494,050 accounts by the end of Jube. Since June of 2018, the number of accounts has grown by 31,585 accounts.
Taking a look at the deposit amount, the broker reported the strongest result all year in June of ¥113.0 billion ($1.04 billion). This is stronger than May’s figure of ¥112.1 billion by 0.8 percent. This is also higher by 1.2 percent than April’s deposit amount of ¥111.6 billion.
When comparing this year-on-year, last month’s deposit amount is actually lower than the same month of last year. Specifically, June of 2018 noted a deposit amount of ¥119.3 billion. Therefore, June of 2019’s deposit amount is 5.3 percent lower.
Gaitame reports drop in transaction volume in June
During the month, Gaitame reported a transaction volume of ¥155.3 billion. This figure, however, is lower on a month-on-month comparison by 16.4 percent from the ¥185.7 billion reported in May.
When looking at the transaction volume achieved in June of 2018, which was ¥197.2 billion, last month’s value is even lower. Specifically, it has fallen by 21.3 percent year-on-year.
So far this month, June has delivered mixed results for brokers. The Moscow Exchange (MOEX) noted a drop in its Forex Trading volumes during the month, whereas Fastmatch reported mixed results.
