Gaitame Mixes October’s Financial Results
Japanese forex broker, Gaitame, published its October trading volume this week, showing mixed results for the month.
Gaitame’s transaction volume fell by 42% against the previous month, despite September’s bad trading period in Japan.
However, this month showed mixed results over last month’s weak data across the board.
In September, the commodity company recorded a volume of around ¥163 million.
The figure increased to ¥156.2 billion by October, 4.3% above the previous month.
Still, the vertical streak is lower than the ¥260.9 billion figure reached in August.
The Japanese broker has yet to push past its January 2019 transaction volume of ¥272.2 billion this year.
Their figures reportedly fell to its old pattern in September after August’s high.
October’s deposit amount figures were not kind to Gaitame.
The firm posted a deposit amount of ¥114.0 billion during the month, dropping slightly by 0.1% since September.
The deposit amount dropped despite the broker’s claim there was an uptick in the number of accounts in October.
Gaitame in Q3
The broker’s Switzerland-based parent company Compagnie Financiere Tradition recorded solid growth at Q3 of this year.
Consolidated revenue reached CHF 230.8 million.
CFA’s third-quarter revenue grew by 15.3% in constant currencies compared to last year’s equivalent.
Adjusted revenue came in at CHF 253.9 million in the third quarter, higher than the CHF 227.1 million in 2018.
Despite the parent company’s rise in Q2, Gaitame’s adjusted revenue fell by 26.6% year-on-year.
However, the retail broker managed to achieve a year-on-year increase in revenues at 2.1%.
The Japanese broking business increased by 15.2% in constant currencies last quarter, while their business revenues increased by 6.9%.
Gaitame reached 498,028 accounts by the end of August, 0.4% more than July’s number.
Its deposit amount rose to the strongest value all year, coming in at ¥114.8 billion.
The August measure went 1.04% lower than July’s deposit amount at ¥133.6 billion.