An Interview with Harry Coundouris Managing Director FXGreece

What is your name and position?
Harry Coundouris Managing Director FXGreece

What is your professional background?
Following my studies, in London, in the Economics and Management field I worked mainly in the mining business and distribution of raw materials. First for Glencore International AG (in the Spanish division -Madrid), one of the world's largest suppliers of commodities and raw materials to industrial consumers, and then for Congo Minerals (CoMin) an African based mining company.

Who are your targeted audience?
There is a big variation in our prospective and existing clientele. Due to the fact that in Greece people are not yet familiarized with the online trading concept but with a great interest into alternative investment tools, our audience mainly meets the following characteristics: -Spare time- Available funds - Internet connection - Interest in financial markets and an age between 28 and 55 years old.

Is your main focus of your business online or offline?
We are exclusive prime brokers for Greece, representing Advanced Currency Markets (ACM a Geneva based Broker. We promote online trading platforms for individuals, Money Managers, as well as complete White Label solutions for Banks and Institutions. Thus, our main focus is online services.

Why should a trader choose Fx Greece over another broker?
FxGreece offers a very competitive package to traders. Apart from the platform a trader can find a complete support (in Greek and English) at all stages. FxGreece is their absolute choice since  Our services include Technical support, Seminars, Trading Signals, daily technical analysis and reports commenting about 16 currency pairs, direct telephone communication between traders and our Analysis and Trading Dept. and constant support for any demand. We believe that such a package is not offered by other brokers.

What advice do you have for someone who is just starting to trade the forex market?
This is a good question. Through our experience we have seen a lot. Our advise contains three basic and extremely important rules. Discipline / Psychology / commitment. Those thing are essential for a trader if he wants to be profitable in the market.

How different is the forex market today from what it was 2 years ago?
Forex has been expanding dramatically the past 4-5 years. The main change in the business is the technology progress which made access to the market from every computer. Nowadays there are plenty of options in order to choose your online forex trading provider. However that is tricky because we have seen many Market makers or brokers who promise trading conditions that are practically untrue. Also, scams with offshore companies based in Cayman Islands for example, often cause droughts regarding the security of funds and the regulation environment that they belong.  Before the expansion of Online trading few companies (mainly Banks) could offer such services. On one hand that was at least safe even with exceptions (Refco), but on the other hand there were few choices, big commissions and not so advanced technology.

Do you also offer Fund management services?
We do not offer Fund Managed services.

Who are the main competitors of Fx Greece in the on-line Forex market?
For the time being, there are not serious competitors since banks that could be some, are not yet interested in providing online forex services. We are setting the foundations in the Greek market in order to familiarize with the online trading concept.

Where do you see Fx Greece 2 years from now?
We believe that Forex is the market of the Future. It combines technology and trading independence in a manner that leaves all other markets far behind, and we already can see that every day, new people are getting into this high risk – high return investment. For that reason we are looking forward to enhance our position and infrastructure in order to support more traders not only in Greece but in the wider territory.