Interview of the Director of Broco Investment School's Armenian branch Vahe Shahinyan to Mediamax Agency and Banks.am portal

- How long have you been working in the Armenian market and what was your arrival in Armenia reasoned by?

- Broco Investment School is the affiliated structure of the Russian Broco Group of Companies – one of the largest brokerage companies in Russia, which functions in the sphere of internet trading.

Broco is one of the few companies, the specialists of which actively work and earn in the financial markets of the world. In other words, the company is established by traders for traders. Knowing the needs and the problems of traders, the company specialists have the chance to provide customers with more efficient and timely instruments.

We have been working in the Armenian market for more than six months. Our arrival in Armenia was reasoned by the fact that the industry of internet trading is at the stage of rise and many of our compatriots independently seek information in this sphere. The society clearly realizes that internet industry gradually “enters” each home today and many people have started to realize that given knowledge in the sphere of economy, having information on developments in financial market, one can gain income.

Simultaneously, we realized that Armenia does not occupy the most favorable positions in the sphere of internet penetration, but we think that this is a matter of time. The increased competition in the market of internet providers will definitely lead to reduction of prices and increase of competition and in the nearest future internet will become available for wider layers of the population. 

- Are you pleased with the demand for Broco services in Armenia? Are your prices affordable?

- Today we are at the initial stage of development and it is yet premature speaking about significant achievements, although we are happy for the fact that we pass ahead of the planned schedule. Before opening the representative office, we had clearly elaborated the development plan, which provided stage by stage goals for each month of work. If we compare today’s result with the planned tasks, one may come to a conclusion that there is demand undoubtedly. Moreover, the society simply needs this information. Composing financial plans, which take into account the possibility and the prospect of making investments, is very timely, I would even say popular today.

The publication of a number of bestsellers by an American writer and entrepreneur of Japanese origin Robert Kiyosaki can be considered a breakthrough in this niche. In the books he writes in detail about how important it is today to create residual income. And what we do is show people how to do that.

Concerning our prices, I would like to note that analogous education in Europe and other developed countries costs really expensive. The prices we have set are consonant with the economic situation in Armenia, the level of the population’s solvency. I can say that almost everyone today can afford education in Broco, especially taking into account the fact that after that the person will get the chance to earn and multiply his/her savings.

- How is the educational process organized in Broco? Do you offer the opportunity of distance learning?

- Educational process consists of ten meetings with our students; each of them lasts 2 hours. After that they pass a practical training, lasting two weeks, during which, guided by teachers, they put the skills they have learned into practice.

Besides, special meetings, as well call them “debriefing”, are organized on Saturdays. At those meetings, we discuss and analyze in detail the upcoming week. This is a kind of crib for traders, which aims are making more profitable deals.

Concerning distance learning, today we work in that direction and we hope that in the nearest future our services will become available for everyone in the region.

- Do your courses exclusively aim at training private traders or are there qualification courses for current traders?

- Broco services are meant for both beginners and current traders from Armenia. Unfortunately, today we meet quite a few traders, who do not carry out trading operations quite competently. Our observations once again assured us of the necessity to organize the educational process. The existing work experience of the company aims at fundamentally changing the situation in the sphere of internet trading, increase of literacy for working in international financial markets.

- Can customers, lacking basic financial education, use your services?

- Of course they can. The information is provided “from the very basics”. Anyone who wants can take up education. One only needs minimum computer skills. If a person has an email address, this is enough. Our lessons will provide the remaining skills up to the smallest details. 

- What is the minimum starting capital one needs to carry out internet trading and what are the minimum dividends one can hope for? What is the risk to lose the invested means?

- The minimum capital for trading in the financial markets makes $100 or the equivalent in other currency. It is difficult to speak about minimum dividends, since everything depends on the discipline/composure of a particular trader. I would like to note that 90% of success depends exactly on discipline. Knowledge makes only 10% of success. 

There are of course risks. All deals cannot be successful. We teach risks management, since it is very important. All possible risks are described in detail at our website - www.brocompany.am. Please, take into account the fact that we are not a brokerage company. We carry out education and help people, who want, to open trade accounts in Broco.

- Have you met competitors in the Armenian market?

- I would not call them competitors, we have partnership relations with them and we are glad that they function in the market. I believe that all training companies, functioning in the Armenian market, should have joint plans and strategies on developing the industry in general. In this aspect, we are guided by the words of one Indian politician, who put it approximately this way: “The branches of trees have only two choices: either to grow with the tree or to die and fall off”.

- In which countries is Broco represented?

- Broco Group of Companies started its activity in April, 2007, and in this period it has already opened representative offices in many cities in Russia. Besides, Broco structural subdivisions are represented in Kazakhstan, Ukraine and China. The Company’s entry to Asian markets, particular to Iran, is also planned for.