Exclusive FNG interview… Retail FX and CFD broker Purple Trading has been working with trading firms for a long time through its Seychelles-based entity, and a few years ago created its own subsidiary brand, Fintokei, which has focused primarily on the Japanese market .
Now expanding into the EU and globally, we thought it would be a good time to catch up with Purple Trading co-founder and also co-founder of Fintokei, David Varga, and get his unique perspective on the growth of item retail. sector, his advice to new startups and how the online brokerage sector is capturing the support space. Here’s what he had to say.
FNG: Hi David, and thanks for joining us today. Purple Trading, as an online broker, has been working with trading companies for a long time – I believe you were one of the brokers serving FTMO in the early days of the industry. How did the decision to launch your own brand, Fintokei, come about? And how did you decide to have Fintokei initially focus on the Japanese market?
David: Thank you for having me. The decision to launch Fintokei came from our extensive experience with brand companies and the desire to offer something that was missing in the industry.
Furthermore, Fintokei nicely complements the entire ecosystem we have been building over the past 15 years – brokers, payment providers, portfolio management company. Japan was chosen as a market completely untouched by the prop trading boom, so we saw a lot of potential there. It’s not easy to get in, but we already had a lot of experience and connections in Japan, and that helped us launch it successfully. And I’m happy to say that Japanese marketers love our concept and approach.
FNG: How did you decide to differentiate Fintokei from what seems to have become an increasingly crowded prop trading space?
David: What I have missed in the industry is a more serious, reliable and long-term oriented company, with the support of a broker and with an innovative approach to product offering. Thanks to our background, advanced technology and infrastructure, our clients can enjoy a wide variety of platforms and very convenient trading conditions, such as scalping, EAs or fully permitted news trading as an example.
Coupled with comprehensive training materials, traders are not only equipped with the best resources, but also have the ability to continuously improve and achieve long-term success.
FNG: We understand that you are now planning to expand the Fintokei brand in Europe, through your roots at Purple Ventures as one of the leading Czech early-stage venture capital firms. What are your plans for EU enlargement? (And beyond?)
David: Our expansion will focus on key European markets such as Italy, Germany, the UK or Poland, leveraging our experience from Purple Trading and Purple Ventures.
Beyond Europe, we are exploring opportunities in regions with high demand for innovative business solutions, such as Southeast Asia or LatAm. Ultimately, we aim to establish Fintokei as a trusted global brand recognized for excellence in training, evaluation and trade finance.
FNG: Back to Purple Trading for a while. As the broker with arguably the most experience working with backers, what do you see backers doing well and, alternatively, not so well? Where do you see the trading industry going?
David: I think it’s great that support companies have brought a lot of people to the trade and the whole concept is exciting and brings a lot of added value for customers.
However, many companies often struggle with managing risk, cash flow and ensuring long-term sustainability. Because of the extremely low barriers to entry, I also believe that the industry has become a little too ferocious in terms of competition, marketing, communication, or even the operation of the whole business, including some dirty practices.
Therefore, we predict that a more serious and professional approach is the future for prop trade, with an emphasis on transparency and stability. Either it will be imposed by regulation, or it will evolve naturally.
FNG: What advice do you have for those looking to start a new merch company or seriously expand an existing brand? What does Purple Trading have to offer startups and support growing companies to ensure their success?
David: I would definitely advise them to focus on a quality technology and trade execution setup, risk management and financial management, including a simple but often overlooked rule – keep enough reserves.
As for Purple Trading or Fintokei, we can certainly help with all of the above and can offer various types of B2B partnerships or consulting services.
FNG: What else can we expect to hear from Fintokei and the Purple team in the coming months?
David: Our ultimate goal is to help as many traders as possible to accelerate their trading journey, start a trading career and earn more. Basically to be a kind of incubator that creates and nurtures talent in the trade.
We always want to deliver great value to our traders and partners, staying at the forefront of the industry, so you can expect even more educational programs, popular platforms and trading tools to support this vision.