From its humble beginnings soon after the Russian financial and banking crisis in 1998, Alpari has become a household name as regards retail online forex trading.
The group, which is known as the Alpari Family of Companies, has grown drastically and now boasts trading and investment operations in 22 countries with Limassol at the forefront of the global network represented by Alpari Financial Services Ltd.
Andrey Dashin, Alpari’s chairman and one of the founders, has nurtured the company that started with just five staff to the global forex giant it is today with over 440,000 client accounts in more than 150 countries, 650 employees and a trading volume in excess of $210 bln a month. It’s no wonder that among the many accolades for its business and community achievements, the most important award came in July when the Alpari brand was named "Forex Company of the Year" at the Financial Elite of Russia Awards.
“The achievements that the Alpari Family of Companies has rapidly reached were not due to any one particular factor. It was the result of hard work; an in-depth understanding of the forex industry; and a business structure, process and culture that set the groundwork for the eventual success of the company,” Dashin told the Financial Mirror in an interview.
“I consider myself a businessman and a leader whose role is to guide and direct Alpari to reach its full potential. Alpari is a world renowned forex broker. Since it was founded in 1998, it has quickly expanded to 22 countries, including the world’s major financial hubs. Today, Alpari offers nine regulated centers for safety and transparency to all investors.”
HUMBLE BEGINNINGS
So, where did Alpari come from?
“In 1998 Russia found itself in the middle of a financial and banking crisis; the range of financial instruments in the markets was limited and the level of unemployment was high. In the midst of this crisis we saw an opportunity to give people a chance to make money on their own. The foreign exchange, “forex”, market was very new to us but it had a long history abroad as one of the most profitable ways to invest money,” the 36 year old executive from Kazan said.
Looking back, Dashin said that “what is important to look at is how Alpari has evolved and continues to evolve. We have a number of projects in the pipeline which we believe will be both innovative and at the forefront of the industry. While we are looking forward to growing and cementing our operations worldwide, we are more excited about what we will have to offer in 2012.”
Alpari has just opened a new office in Japan and there are further development plans for Asia.
WHY CYPRUS?
The obvious question we put to Dashin was why Alpari chose Cyprus for its international business and not, say, Dubai, the Channel Islands, Frankfurt or Monaco.
“Alpari expanded to Cyprus because it has become one of the world’s major centres for online forex trading,” he said, adding that “Alpari Financial Services (Alpari FS) has extended our overall mission of bringing an exceptional trading environment to clients by providing them with yet another reputable, licensed and regulated broker.”
The decision was not based on tax and the strictness of regulation alone.
“Cyprus was chosen because it has become a well-known hub for the forex industry and it covers our strategic plans for development. Specifically, Alpari FS allows our brand to offer superior convenience to clients because of its location in Cyprus, a European country that is very close to the Middle East. Tax will not influence our business, the needs of our clients will always be the determining factor.”
PEOPLE’S BRAND
Limassol-based Alpari FS is an independent entity that operates under the same brand and ownership. Although each Alpari entity has its own way of doing business, at a global brand level all members of the Alpari Family share policies and procedures, technologies, ideas and expertise.
“It is this collective experience and corporate nature of sharing that fuels our strength in the market,” Dashin said, explaining that ownership of all Alpari entities is the same, but management is not.
“All senior managers have had experience in other Alpari entities. The CEO of Alpari FS, for example, was previously responsible for setting up the Alpari U.S. office and before that was part of the management team in Russia. At Alpari, we don’t share management, we share people. We develop our people within the company and then use their skills in different Alpari entities.”
And it’s not just a mission statement, Dashin lives and works based on five primary principles that are posted on his personal website – collective decision-making; a corporate atmosphere of trust; personal development; modern, cutting-edge technology; and, transparency in business.
As regards the ownership of the Alpari Family, Dashin heads a trio of shareholders.
“We each have different skills but complement each other and provide the necessary support for Alpari. Growth, development and expansion are all part of our overall objectives. We are committed to continuously developing new products and improving our services to better fulfil our clients’ needs.”
