Interview with Sarvjeet Virk, Co-founder and MD of Finvasia for Shoonya by Finvasia

An exclusive interview with Sarvjeet Virk, Co-founder and MD of Finvasia for Shoonya by Finvasia, India’s 1st trading platform

We are privileged to present an exclusive interview with Mr. Sarvjeet Virk, the Co-founder and Managing Director of Finvasia, a pioneering force in the world of trading platforms in India. Finvasia, with its groundbreaking innovation, Shoonya, has revolutionized the trading landscape by offering AI-powered predictions and signals across various time periods.

With an illustrious career in the financial industry and a visionary approach to technology, Mr. Virk has spearheaded this remarkable journey, making Shoonya the country’s first trading platform of its kind. In this interview, we delve deep into his insights and experiences that have shaped this transformative trading platform.

Can you tell us about the founding story of Finvasia? What inspired you to start this multi-asset trading platform?

Sarvjeet Virk: Finvasia is a multi-market financial services company that caters to diverse markets, including capital markets, investment banking, etc. But for both co-founders, my brother and I, it is a dream turned into reality. It is also an example for other entrepreneurs who have doubts running in their heads but want to start by building a base in smaller cities.

We (Tajinder, my brother) are both engineers, and we were in the US when the thought to give back to the country struck us, and we returned to Chandigarh to start Finvasia. We wanted to disrupt the financial services industry by offering innovative and real-time end-to-end financial solutions that cater to the needs of all investors, regardless of their experience level, and that’s how Finvasia and later Shoonya by Finvasia came into existence.

Over the years, Finvasia has consistently introduced innovative products that challenge the status quo and reshaped India’s financial services sector by providing cutting-edge technological solutions and investment prospects. Our unwavering dedication to a customer-centered approach has driven our mission to make trading easily accessible to all, establishing Finvasia as a trailblazer in India’s fintech landscape.

Even though we are self-funded, it is a source of immense pride that Finvasia has maintained a positive cash flow from the very beginning. The commitment and excellence of our international group companies have garnered recognition, including the prestigious 2017 Benzinga Global Fintech Awards, where we received the award for the Best Trading Execution or Brokerage Platform.

Finvasia is known for its unique “zero commission” model. How does this model work, and what advantages does it offer to your users?

Sarvjeet Virk:” With our flagship Indian brand, Shoonya by Finvasia, we offer a zero-commission model as part of our fully compliant and SEBI-regulated trading platform. With Shoonya, we have harnessed innovation to revolutionize the Indian Fintech sector, challenging conventional norms.

Recognizing the hurdles faced by traders, we embarked on a mission to discover solutions that make trading more cost-effective. This single-minded focal point has enabled us to achieve significant milestones, such as becoming India’s first “True Zero Trading Platform.”

Our model, which incurs zero commissions and features 16 cost-free attributes, stands as a testament to our dedication to empowering investors and eradicating financial barriers. We take pride in being the sole Indian trading platform to eliminate commissions, clearing fees, technology charges, and concealed expenses, providing traders with a transparent and ethically sound trading experience.

Moreover, while we do not impose any commission fees for trading across various asset classes, our customer-centric approach also drives us to offer an exceptional customer journey. We are pioneers in utilizing AI-powered models to address customers’ pain points during trading, aiding them with intelligent trading tools that help them save time on research and improve their decision-making.

Throughout all our endeavors, we remain steadfast in our commitment to delivering the finest trading experience to our valued customers.

Could you share the key features and services that make Shoonya by Finvasia stand out in the highly competitive world of trading platforms in India?

Sarvjeet Virk: With Shoonya, we have created a Zero-Cost, ethical, and integrated platform, completely free from commissions, clearing fees, technology fees, or hidden charges of any kind. With a huge focus on customer centricity, we are working extensively on providing the best customer journey on a trading platform.

We are looking forward to making trading seamless for our customers with advanced tools offered through strategic partnerships and associations. The AI-powered tool on Shoonya with I Know First enables users to resolve key pain points of every trader, saving them time from research, improving their decision making and enabling multiple actions with a single click.

How has Finvasia adapted to the changing regulatory environment for trading and investing in India?

Sarvjeet Virk: Finvasia has a strong track record of regulatory compliance, which builds trust with customers and investors. With the advancements in technology, trading and investing in India have evolved as well, and we have been at the forefront of adopting the latest regulatory measures.

However, we expect the Indian government and regulatory authorities to continue supporting Fintech innovation, creating an environment that encourages entrepreneurship and innovation in the financial services sector.

Finvasia recently expanded its services into global markets. Could you tell us about this expansion and how it benefits Indian traders and investors?

Sarvjeet Virk: Incorporated in 2009, Finvasia Group comprises 10+ brands servicing sectors like Finance, Technology, Real Estate, and Healthcare with offices in more than 10 countries and a presence across 190 countries.            

Apart from Shoonya, other brands by Finvasia include FXview, which is pioneering the forex revolution with ethical products that empower a new generation of wealth-builders while setting industry standards as a CySec-regulated broker. Its brand Act Trader has been identified as a Fintech leader redefining innovation in finance since 2000.

ZuluTrade by Finvasia is a platform where the world trades, invests, and manages wealth. It sets the gold standard for transparency and accessibility in global finance. AAAFx is where trading meets excellence. It is a trusted partner in online forex, stocks, and comprehensive financial services, backed by Hellenic Capital Market Commission regulation.

In healthcare, Finvasia’s Gini Health is pioneering personalized health through DNA and lifestyle data, reshaping the future of disease prevention and wellness. It brings healthcare to the forefront of every individual’s journey.

The benefit of being present globally is that it gives us a world view of the latest happenings in the world of fintech, AI, cybersecurity, and other related service fields. All this goes as a learning into the product development for Indian investors.

Our global presence has led us to introduce the integration of the I Know First feature into our platform. The AI-powered tool enables investors to scrutinize, simulate, and forecast stock market behavior for better decision-making.

With the rising interest in cryptocurrencies, can you discuss Finvasia’s approach to crypto trading and what sets it apart from other platforms in this space?

Sarvjeet Virk: There are a lot of uncertainties around crypto right now.

At Finvasia, we are highly compliant, and we will not venture into cryptocurrency unless there is regulatory backing for the same. However, we are keeping an eye on this space and are open to exploring it when there’s demand and government support.

How does Finvasia ensure the safety and security of users’ funds and data in an era of increasing cybersecurity threats?

Sarvjeet Virk: The safety and security of our users’ funds have always been our number one priority. We understand that our users put immense faith in us by trading and investing via Shoonya. We have a diligent risk management team that helps us foresee and resolve any security issues that may be anticipated.

Alternatively, we follow the SEBI guidelines of segregating user and company funds and at the end of each day, transferring user funds to a clearing corporation. The clearing corporation offers investors a web portal for real-time access to monitor their collateral status and movements whenever necessary.

As a stockbroker, we conduct Cyber Security Audits through certified CERT-In Auditors every year to safeguard our systems from any cyber threats. Our internal auditors conduct quarterly cyber securities incident checks to keep the system up-to-date.

We also use our social media and other communication platforms regularly to educate people on how they can ensure safety at their end.

In the context of India’s growing interest in stock and derivatives trading, what educational resources and support does Finvasia provide to help users make informed trading decisions?

Sarvjeet Virk: We’ve introduced I Know First’s distinctive features within Shoonya to streamline the trading experience for our users. Through our partnership with I Know First users can enhance their portfolio performance and investment decision-making. They can tap into AI-powered insights generated by I Know First, which utilizes signals on a dataset of 1,500 Indian stocks based on historical data.

Traders and investors can readily access these forecasts using AI-driven tools like Colour-Coded Signals, Instant Heatmaps, Wave Trend Predictions, and Performance Predictions to make well-informed choices.

In the past, only seasoned professionals had access to such comprehensive insights, but IKF has made them easily accessible, democratizing the trading process. By harnessing the capabilities of artificial intelligence and machine learning, we are playing a pivotal role in driving growth within the Indian stock market.

Finvasia is also planning to launch an education-based portal for investors across age groups and asset classes. From novice traders to derivative experts will be able to access the platform and master trading.

What are the future plans and innovations that we can expect from Finvasia to maintain its position as a leading multi-asset trading platform in India and beyond?

Sarvjeet Virk: AI is at the heart of our strategy now and for the foreseeable future. We are committed to leveraging its capabilities to not only enhance our trading platform but also to explore the creation of separate fintech products that can address the unmet needs of our clients.

It’s important to note that our focus extends beyond urban markets. We recognize a significant opportunity in Bharat, where many potential investors are underserved or unserved. We are determined to develop user-friendly products tailored to their unique needs and preferences.

To further live up to our brand promise of empowering our customers through education and cutting-edge technology, we have some exciting plans to enhance our education portal significantly. Our goal is to give our customers the knowledge and tools they need to make informed investment decisions.

To bolster our educational resources, we are actively working on expanding our AI-based product features. While AI is currently a part of our stock trading services, we envision its integration into derivatives, commodities, and currencies trading as well. This will not only improve the trading experience but also enable our customers to explore new avenues for investment.

What are your success tips for young and aspiring entrepreneurs?

Sarvjeet Virk: The path to success involves a blend of passion, perseverance, and practical strategies. Young and aspiring entrepreneurs should pursue endeavors that resonate with their values and aspirations while never ceasing to learn and adapt to the ever-evolving business world. Cultivate a strong support network through mentorship and networking, and remain resilient in the face of challenges, for they are integral to the entrepreneurial journey.

Carefully plan, focusing on customer needs, financial literacy, and a clear vision. Embrace innovation, foster work-life balance, and exhibit adaptability in the dynamic business landscape. Maintain unwavering persistence, prioritize effective marketing and branding, build a motivated team, and stay mindful of legal requirements. Ultimately, define success on your own terms and measure your progress accordingly.

In this enlightening interview, Mr. Sarvjeet Virk, the Co-founder and MD of Finvasia, has shared invaluable insights into the world of Shoonya, India’s first trading platform to offer AI-powered predictions and signals across different time periods. His visionary leadership and commitment to innovation have positioned Finvasia as a trailblazer in the financial technology sector.

As Shoonya continues to empower traders with cutting-edge tools, it is evident that Mr. Virk’s dedication to technological advancements and financial inclusivity will play a pivotal role in the future of trading in India. We thank Mr. Virk for providing us with a glimpse into the journey of Finvasia and the incredible possibilities that Shoonya brings to the world of trading.

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