Mr. Dashin, recently the decision of SNB (Swiss National Bank) to remove the franc’s ceiling over the euro splurged a crisis in the forex world and led to Alpari (UK) Ltd incurring heavy losses, leading to Alpari (UK) Ltd Board of Directors putting the FCA regulated entity into administration. As one of the shareholders in Alpari (UK) Ltd how do you comment on these recent developments?
Undoubtedly, this unprecedented action of SNB took the industry by surprise and translated into a series of unexpected consequences for many forex traders and their brokers. The key here is to recognize and remind ourselves of how valuable and undeniably necessary risk management is for our industry. We tend to forget because of the exciting and rapidly changing environment we find ourselves in, as our major concern is to constantly remain updated on world news to ensure that we provide the best possible service to our traders. Therefore, we should take this situation as an example to learn from. It is my belief that, when there’s a crisis, we ought to see the bigger picture and capitalize on the opportunities that arise. Let’s not forget that Forex itself was born out of a crisis.
Did the situation with Alpari (UK) Ltd affect your investments in FXTM in any way?
Alpari and ForexTime are two separate businesses, and two distinct and independent investments on my part. Therefore, other than having me as a shareholder, there is no practical relation between the two businesses. Consequently, any developments related to Alpari have no effect on ForexTime or any of my other business investments.
What are your plans for Alpari globally after acquiring the intellectual property rights over the Alpari brand from Alpari (UK) Ltd?
The deal for the intellectual property rights acquisition opened up a new chapter in the history of Alpari for me. It is the first step to a global expansion for Alpari under my control, whereby the approach of the company to its global operations can be innovated and I can finally modernize the vision for Alpari as a global brand. I would like to point out at this point that the Alpari brand’s roots are in Russia and our company was one of the main driving forces for the establishment of a modern and flexible regulatory legislation for FX business in Russia. We strongly believe in the multiple benefits of regulation as it adds liability to the system but also it opens up new horizons for Alpari both in Russia and in other countries.
FXTM has recently moved into the FXTM Tower in Limassol. What is in the near future for the company?
FXTM is steadily and continuously growing, working strategically to stay true to our initial commitment to offer trading services with sophisticated, reliable and industry-leading technology, coupled with support from a great team, hand-picked because of their experience and knowledge of the industry. Our mission remains to maximize the value our clients derive from their most precious commodity, time. We have always kept a high profile of integrity and transparency and this is something that makes us proud as a broker.
Finally, what are your plans in Cyprus? Are you going to further expand your business here?
As a human being, I am constantly inspired to generate new ideas. As a business man I am compelled to evaluate each idea to determine its feasibility. One thing that is certain is that I remain committed to Cyprus and my investments here, especially after having acquired the Cypriot citizenship. Cyprus has a lot of potential and I truly believe that a great future lies ahead of it.
Note: The content of this interview comprises personal opinions and ideas and should not be taken or misunderstood as investment advice.