In our interview with Andrey Dashin, owner and founder of Alpari and FXTM, he spoke to us about the history of his companies’ success, their current projects, the secrets of good management and various approaches to running a business.
How did you start your business?
I actually started my business straight after the 90s global economic crisis ended. By that time, forex trading had already appeared in Russia. Amid the hyperinflation and ongoing decline of the country’s economy, currency trading captured the minds of Russians fairly quickly. At the time, foreign currencies were the only assets available that would allow Russians to increase and protect their savings.
This situation made it easy for me to decide my next step; to create a company that would provide investment and brokerage services on the forex market in line with the highest international standards utilizing the latest technology.
The company’s successful start can be put down to the right choice of business model, a professional team, innovative technology, the economic environment and the extensive reach of the Internet.
What does your business look like today and what standing does it have on the international stage?
I currently run two international brands; Alpari, founded in 1998, and FXTM, which was launched in 2011. Both offer services in the fields of trading, investment, analysis and education. Today Alpari, and its trademarks, is a widely recognised, global brand whose products and services are in high demand across the globe.
Alpari’s current clientele, consists of over a million people across 150 countries, which led to the brand holding a leading position in many of the markets it operates in.
As for FXTM, the company made a name for itself on the global stage in a very short period of time. Its success boils from its dedication to ensuring that each second of the client’s time is spent wisely, offering a wide choice of products and services that are tailored to each market. The company actively expanded its global reach, producing excellent results and stable growth across Europe, Asia, the Middle East and Africa.
What is the reason behind having to companies in the same industry?
I always like answering this question with an analogy: Even the world’s best apple picker will still collect less apples than two decent pickers. That’s the first point.
The second point is that while both Alpari and FXTM work within the same industry and may appear similar on the surface, both companies differ vastly from one another.. Whatever people might say, different teams with different managers make different decisions, which ultimately affects the success and direction of the business.
Thirdly, business owners or shareholders owning multiple brands in the same industry is very common in the global economy, and examples can be found in almost any industry.
What are the advantages of multi-branding in the forex industry?
I’ve been involved in business for a long time, during which I’ve made several key observations. Throughout the time of their existence, companies go through various stages of development. I believe that it’s difficult to introduce revolutionary solutions to well-established companies with steady business. On the other hand, young and ambitious projects possess the necessary flexibility for implementing bold ideas and aren’t afraid of utilizing the latest technology to their work. This is especially true now, where expansions appear on a daily basis and to which businesses constantly need to adapt.
There are exceptions in both instances of course, and experience shows that any company, big or small, experienced or inexperienced, can progress. One thing is clear; that it’s better to have companies with different characteristics in your arsenal so as to remain highly competitive in your environment and increase your chances of reaching the top.
Forex is international, meaning that we have an enormous “apple garden” to work with. One company may be successful in one region, while another company can achieve success somewhere else, but at the end of the day, each of them gets an excellent harvest.
Could you shed some light on different approaches to business?
It’s enough to look at the latest news about the opening of new company offices, which provide a beautiful insight into the various approaches and initiatives employed by managers. For example, Alpari has Russian roots, but since 2006, it has consistently expanded its international footprint. In fact, our growing interest in the regions of Southeast Asia, South Africa and the Indian Ocean recently led us to open additional headquarters for Alpari in the Republic of Mauritius.
FXTM is based in Cyprus, which is a European forex hub, and has been operating there since 2011.
Right now, one of FXTM’s objectives is to expand its presence in the United Kingdom, which is the epicenter of forex trading Europe. In 2016, FXTM set up a fully- operational division in London, providing private and institutional investors access to personalised products and services. The opening of an office in London seemed like the logical next step to take in the development of its global reach. The advantageous strategic location, the presence of major players and highly-qualified personnel, as well as the utilisation of the most advanced and innovative technology in trading have vastly increased the company’s efficiency.
You’ve been in business for almost 20 years, what’s the secret to your success?
Since founding the Alpari brand, I’ve weathered several global financial crises. Of course, every time you’re faced with a new crisis, you must step up to the challenge and overcome it. You need to pick yourself up, gather your strength, and keep moving forward. If you don’t, your competitors will steal the limelight away from you.
I believe that a crisis is a time for winners, for testing the stability of a company, for making the right decisions, for taking the opportunity to implement bold ideas and, ultimately, for succeeding in business. It’s times like these that allow you to show your true resolve by turning your weaknesses into strengths and growing as a person. In doing this, we gain invaluable experience in the ability to calculate and anticipate potential consequences. This is where business intuition comes from.
Because of this, I know that any business can reach new heights, even under the most adverse conditions, as long as they retain a specific set of basic values at their core – such as ambition, a high degree of risk management, innovation, and a focus on high quality customer service.