Gaitame Posts 7.7% MoM Volume Decline for July

Gaitame, a Japanese retail forex broker, has published its monthly trading volumes for July, showing a total transaction of ¥297.2 billion, over 7.7 percent decline from the previous month’s numbers.

The brokerage reported record volumes for March when the COVID-19-induced market volatility pushed the activities across the trading platforms – Gaitame posted a transaction volume of ¥553.4 billion for the month. Compared to the previous month, that was a jump of 149.4 percent.

The numbers, however, continued to fall for the consecutive months, again a trend seen across the industry. Though the brokerage saw an uptick in its June volume by 51.4 percent compared to May, the numbers fell against last month.

Retail trading demand is increasing

On a year-on-year level, Gaitame July 2020’s volume was up by 107.6 percent as the total transactions on the platform on the same month last year was ¥143 billion.

Despite the month-on-month decline in the numbers, last month’s volume was only behind Gaitame’s reported volume in March and June, at least since April 2018.

FortuneZ also reported last month that the Japanese brokerage recorded a 5.9 percent uptick on its volume year-on-year for the first half of 2020, largely dragged by the inflated March’s volumes.

The brokerage also recorded a healthy increase in on-boarding new clients as it added 1,532 new clients in the month, taking the total accounts to 515,458.

The total deposits amount on the forex trading platform also marginally up by 0.8 percent in the month to ¥113.4 billion against ¥112.5 billion in June.

(Photo: pxfuel)

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