In an exclusive interview with Shreyas Webmedia Solutions (SWS), Mr. Hemant Sood, Founder of FinDoc discussed various aspects such as the business roadmap of FinDoc for 2023, the Benefits of Algorithm Trading, and many more…
SWS: Tell us about your company, specialization, and the services offered.
Hemant Sood: Findoc Group offers the best stock trading services to help institutions, businesses, and individual investors grow their wealth. Understanding our client’s needs and ensuring capital preservation is our top priority, always.
Established in 2012, Findoc is a member of major stock exchanges such as the National Stock Exchange of India Ltd. (NSE), Bombay Stock Exchange Ltd. (BSE), and Multi Commodity Exchange of India Ltd. (MCX), and National Commodity & Derivatives Exchange Ltd. (NCDEX).
Findoc has emerged as one of India’s leading financial services providers that facilitates Algo trading, equity trading, derivatives trading, commodity trading, currency trading, and IPOs and mutual fund investments.
We are also SEBI-registered investment advisors, and we are well-equipped in generating research reports and recommending them to our clients.
Customer-first, holding this vision on the top, Findoc has been offering trustworthy financial services for over a decade now. Talk about Equity trading, commodity trading, wealth management, or the buzzing Algo trading, we offer bespoke financial solutions to each of our clients. We are ahead in Fintech technology like Algo trading, making trading easy and profitable for new traders. We have an in-house software development team who can code strategies as per the requirement of the trade.
The pioneering efforts of Findoc have been acknowledged and awarded with NCDEX KRISHI Award, TATA Mutual fund, ICICI Prudential, and SBI Mutual Fund, reflecting our credible financial services. Recently been awarded by NCDEX as a significant contributor to commodity markets
SWS: How can today’s youth/students be their own boss by choosing to be AP/Sub Brokers?
Hemant Sood: The Indian economy has been doing very well compared to its global counterparts and the same is being reflected in India’s stock market also.
With layoffs becoming a trend and job security becoming a major concern, youngsters are looking towards being self-sufficient and being their boss.
Becoming a sub-broker or AP with a stockbroker is one of the exciting options which lots of people are choosing nowadays. Undergraduates/graduates can easily apply to be an AP with minimal or no investment. Traditional broking houses like Findoc have good programs/platforms for students where training/Learning is imparted as part of their onboarding process.
Various tools/platforms are also being provided to them to empower them along with excellent advisory and research support.
Unlimited earning opportunities as you earn depending upon the business you generate and the flexibility to work from home so that there is no need to come to the office/commute is also attracting them.
Working as an AP also provides work flexibility, and you can choose how many hours you want to work
SWS: What is Algo trading ? What are the important factors of successful algo trading?
Hemant Sood: Algorithmic trading is on an unstoppable rise in India. In 2008, the country allowed for algorithms and automated trades to be used by qualified companies only; however this new technology has quickly become one of the biggest contributors (if not THE MOST IMPORTANT CONTRIBUTOR) toward stock market volumes within Indian financial markets over time – controlling nearly 30%+1/3rds percent currently through Algo Trading strategies despite being fully implemented less than 10 years ago!
Algorithmic trading or Algo trading is the use of automated systems that follow a predetermined set of instructions (algorithms) to generate trading signals for making trading decisions in securities, foreign exchange, or futures markets. Algorithmic trading is now used by most traders, and it has the potential to change the way traders trade
Benefits of Algorithm Trading
1. Emotion-free Trading
Since Algo trading is based on computer-generated algorithms, there is no chance of human error or emotional trading decisions. Many traders have based their trades on intuition or gut feelings, this is not possible with Algo trading.
2. Automated Checks
If you are out of the office or travelling, you can set up your algorithm to perform automated checks and follow your position in the market. Finely tune your algorithmic trading strategies to work on your behalf by implementing stops and limits.
You don’t have to work too hard when your Algorithm is working for you. You can sleep well knowing your customized algorithm is on the job 24/7 and will take care of trading for you.
With Algo trading software you can backtest and refine your algorithms against historical data. This will allow you to find the best combinations of parameters to trade.
5. More Opportunities
You can choose or create algorithm trading strategies to optimize your exposure to new opportunities in the market. Algorithms can take in more data than a human so you can customize based on real-time data.
6. Speed and Accuracy
Using Algo trading strategies can help you save time. You don’t have to spend time on your brokerage account. The algorithm follows your plan and places the order as soon as the signal is given.
7. Transaction Costs
With automated trading, there is no need for human traders to spend a lot of time monitoring markets since the algorithm automatically enters and exits trades. This will help reduce the transaction cost.
The global Algorithmic market is expected to grow significantly between 2020-2027. As more companies recognize the advantages of Algo trading, there will be more services and brokerages needed to support the growth in India and other parts of the world.
SWS: What is the business roadmap of FinDoc for 2023?
Hemant Sood: Findoc is growing rapidly, and we all share a dream of making it one of the best financial services companies in the country we as a team are all motivated to achieve new milestones in 2023 :
– Branches in Gift City, Gujarat in both Domestic & International Zone
– Branch in Mumbai
– New Corporate Office in Ludhiana with state-of-the-art facilities for employees
– Some more value-added features for our retail customers in our trading app
– Setting up a dedicated service team for 24*7 support to our customers
– Launch of PMS/AIF
– Launch a proper mix of retail products
– Robust RMS and back-office System
– Hybrid Brokerage Model ( Having the best of both the physical and digital world)
-Digital Sub broker Onboarding and Support Platform (FinDost)
-Catering FPI business
-Traders for Life & Treasury Management Event
About Mr. Hemant Sood
Mr. Hemant Sood is a first-generation entrepreneur and angel investor based out of Ludhiana, Punjab.He believes in continuous learning and hence got certifications in Business Management from several reputed universities like Harvard Business School and MIT Sloan School of Management.
Specialities and Expertise lies in Customer Relationship Management (CRM), Team Building, Capital Markets, Management, and Leadership. He is also a member of the Board of Governors, IIT Mandi and a Regular Member of YPO.
From the Young age of 11, Mr. Sood had an entrepreneurial spirit in him. He always loved the financial market and was determined to learn more and as a step towards that, he became a sub-broker to a reputed stock broking company.
To achieve his dream, he established Findoc Investment Pvt Ltd in 2010 & under the leadership of Mr., Hemant Findoc has been growing steadily. Today the company is registered under major stock exchanges of the country such as NSE, BSE, MCX & NCDEX among others and has bagged many awards including NCDEX KRISHI Award, Tata Mutual fund, ICICI Prudential, and SBI Mutual Fund, reflecting our credible financial services. Recently been awarded by NCDEX and MCX also as a significant contributor to commodity markets
As an Angel Investor, he has invested in many upcoming startups and actively participates in various such forums and events where he shares his experience with young & upcoming entrepreneurs on how to scale their businesses.
Along with business he also believes in giving back to the community and society. He is Chairman of Samvedna Trust which is an NGO involved in a lot of philanthropic activities.