Gaitame Reports Another Weak Month, Volumes Fall in November

Gaitame, a , has published its trading metrics for November of 2018 this Monday. Although account numbers grew, transaction volumes fell on both a yearly and monthly basis.
Taking a look at the number of client accounts during November, the broker saw a total of 474,933 during the month. This was a slight increase of 2,355 accounts, or about 0.5 per cent, from the previous month which is close to the monthly average increase.
Last year in November, the forex broker had 445,917 client accounts. Therefore, the number of accounts this November is up by around 6.1 per cent year-on-year. In October last year, for the first time in years, client accounts experienced a month-on-month drop, hitting 443,485. This followed the company seeing 454,941 registrants in September, its highest figure for 2017.
However, since October’s lows, client accounts have seen consistent growth with November being no exception. In fact, client accounts surpassed September 2017 highs in March this year.
Transaction volume falls on Gaitame
In terms of transactional volume, November was again a weak month for the broker. With its total coming in at ¥169.1 billion ($1.5 billion) this is a decline of 21.6 per cent when measured against the previous month, which had a total transactional volume of ¥215.8.
Moving on to the broker’s deposit totals, in November Gaitame disclosed a figure of ¥115.6 billion. This represents an ever-so-slight increase of 0.3 per cent from the previous month, as the broker recorded a figure of ¥115.2 billion in October.
Whilst this is up on a month-on-month basis, it is still down when compared to the same time period of last year. Specifically, it is around 1 per cent less, as November 2017 achieved a deposit amount of¥116.8 billion.
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 see a good recovery and volumes in-line with the upward trend, the following months have not been able to get back to prior levels, with August and being the lowest since last year.