As is said, slow and steady wins the race, Moneyplex’s journey to success has followed the same path. Viraj started out as a part time dealer at sub broker office in 2005. Inspired by the stories of various successful investors he got attracted towards the market. The initial days were not easy and he lost some money as there were no organizations or institutes that taught people how to trade. So then he moved to becoming a broker and then started to educate people about the nitty gritties of investing in the stock market. Gradually after procuring a loan he reinvested and soon made substantial profits. Having gathered experience and knowledge and learning technical analysis from good traders and prominent analysts he decided to take the plunge and start his own private consultation business. Thus Moneyplex was born in early 2007. The firm started out conducting workshops and seminars across management colleges to educate students to become fund managers and understand where to invest money. The focus of the organization from the very beginning was on imparting knowledge and the firm made huge profits just before the global financial crisis hit the market. Already having anticipated the fall, Moneyplex stayed safe in a time when various investors across the globe incurred huge losses.“Then switching between equities and commodities I managed to create wealth for me and my clients and in 2012 I decided to start my own broking house,” Viraj says. There was no looking back and the firm set up its base in Mumbai and spread its reach across the city. Gradually they set up a regional office in Pune to target Tier 2 /3 cities such as Nasik, Ahemd Nagar, Satara, Kolhapur etc.
The firm saw its share of challenges which are common for a fresh organization; people were not ready to put their trust in a new kid on the block, be it clients or employees. But Viraj persisted through the odds and emerged victorious. His biggest asset during this journey was his market experience. “I have been in the market since 2005 and that has given me seven years worth of real time experience. I learnt from my mistakes and kept updating myself. Last year I have also completed my PhD in economics,” he narrates proudly.
Winning Awards Galore
Owing to Viraj’s expertise, Moneyplex has not only won the approval of its clients but has also been the recipient of awards such as being one among the top three volume makers in the currency segment for Financial Year 2013/14 and the largest investor by BSE in 2015.
Moneyplex provides a roster of financial services which include equity, derivates,currency trading, NRI services
and online trading
The firm also won the award for generating the maximum employment(SME segment) by Arthasanket and Maharashtra Chamber of Commerce.“We focused on training and hiring a Large number of college students.Not only did we train them but we also taught them to be franchise holders or sub brokers. Our objective was to inculcate the spirit of entrepreneurship in them by giving them the right knowledge,” explains Viraj. Additionally the firm has been acknowledged for the "Fastest growing Indian company excellence award" by International Achievers Conference, to be held on 25th June 2016 at Delhi.Viraj has also been felicitated with the "dynamic entrepreneur award (SME)” an award given out by the Maharashtra Chamber of Commerce.
The company also undertook an interesting project called ‘Pink Franchise’ to promote the contribution of women in stock markets. “Women are known to be good with their gut instincts. Not just that, they also understand the value of money. Being a good negotiator comes naturally to them. We decided to harness their expertise in our segment,” elaborates Viraj. The firm thus trained 700 women and offered them a sub-brokership without any deposits. The only criteria required was basic education. The women were registered as channel partners thus were not charged any fees, which is otherwise expensive. This move was a win-win situation as the firm helped various women come into a sector which was largely considered as a man’s playing field.
Building A Strong Team Of Winners
Moneyplex has come a long way since it started out in the market and Viraj gives the credit to his team of experts. “Any organization’s vision can come to life only because of the team’s hardwork. We acknowledge that and thus our focus has been on promoting a strong team of experts who are motivated to work hard and achieve ore,” Viraj explains. When someone is performing well, the company motivates them to achieve more. The firm also understands that people go through bad patches in life and thus extends its support in such scenarios. These strategies help in team building which helps Moneyplex achieve its objectives.
The company has already conquered a large chunk of the Maharashtra market and it envisions opening more branches in the region in the near future. “Currently we use service points and tie ups to function but we are moving towards having hundred more branches in the region,” adds Viraj. The firm is also looking to venture into rural investments wherein they will conduct seminars and workshops in rural areas where people have the money but are unaware about investing it well. The credo of the organization will remain the same though; to impart education about investment.