Groww, mainly known as the Groww app, is a stock broker providing stock trading and a range of other investing facilities to its customers at very accessible charges. This stock trading platform allows its customers to invest in equity, direct mutual funds, and IPOs. Groww is the official brand name selected by Nexbillion Technology Private Limited, registered with SEBI as a stockbroker, and has a membership of BSE and NSE.
Groww was introduced in 2016; initially, it was started to provide investment facilities in direct mutual funds. With the positive growth, the platform also started offering equity trading facilities. It also provides US stock, digital gold, FD facilities, and other investment options for its registered customers.
This trading and investing platform charges as low as Rs 20 or 0.05% per executed trade and as high as Rs 20 per executed trade. However, it does not charge any brokerage or commission on mutual fund investments. Groww has over 50.62 lakh clients as of November 2022.
Why Invest Through Groww App?
If you are looking for a reliable stock trading platform suitable for mutual fund investment and stock market trading activities, Groww App can be the ideal investment platform.
- Charges zero commission on direct mutual fund investment.
- Allow investors to invest in US stocks, corporate FD, and digital gold.
- It charges Rs 20 as the maximum brokerage charge per executed trade.
- Has a large collection of blogs and books to help investors stay current with key terms in the stock market.
Groww App Account Opening Charges
Opening a Demat and Trading account with Groww is free of cost. You don’t have to pay anything for account opening and account maintenance services provided by Groww. Moreover, the account creation process is straightforward and quick compared to other service providers.
Groww App Brokerage Charges
Groww uses its fixed brokerage charge model, which charges as high as Rs 20 per trade on equity delivery, day trading, and F&O trades. If you trade in equity delivery or participate in intraday trading, you must pay Rs 20 or 0.05%, whichever is lower than brokerage fees. In addition, it charges a flat Rs 20 fee per trade on equity F&O trades. If you select the auto square-off feature, it charges Rs 50 flat for the trade.
Groww Trading Tools & Platforms
Groww has mobile and web-based trading platforms for its customers. And registered users can seamlessly switch from mobile to web-based trading platforms. It provides a range of mutual fund investment options and stock trading facilities. It also has US stocks, FD, and digital gold investment features. However, it does not offer any installable trading terminal or call and trade service. Below is a brief about its web-based and mobile-based trading software.
Groww Mobile App
The Groww app is accessible to Android and iOS users to trade anytime from anywhere without seeing any technical problems. It’s free to use the app and provides a hassle-free login experience; moreover, investors can safely invest in equity and mutual funds to make money from the stock market. There are various helpful features like a candlestick chart showing price movement and simply click buy and sell options. If you are a beginner, some videos and tutorials can help you easily use this trading app.
Groww Web Platform
Its online web-based trading platform is designed to give an enhanced trading experience to its registered traders and help them seamlessly explore stocks, mutual funds, and other investment options provided by this brokerage firm. The website has a blog section to access useful blogs and articles published to help investors know the crucial terms and trading strategies. It also has various educational ebooks on the stock market to help its traders.
How to Open a Demat Account with Groww?
Groww provides a paperless Demat and trading account opening facility. Below are some crucial steps to open your Demat account with Groww.
- Install the Groww app on your mobile from Play Store or App Store.
- Complete the Registration Process through a valid E-mail and registered mobile number.
- Verify the account registration and enter OTP to proceed next.
- Add document details like PAN, bank account, and other document details asked in the form.
- Click on the complete setup button and enter the open stocks account.
- There will be details about Groww brokerage charges and various fees; look at it.
- Enter other details like profession and income to complete the KYC process.
- Add a signature in the required format to maintain its visibility and clarity.
- It will ask you to complete an Aadhaar-based e-sign process and send you an OTP on your registered mobile number.
- Now you need to Sign Up, so please carefully read the instructions and proceed on next.
- It will take you to the NSDL e-sign portal and ask you to enter your Aadhaar number to complete the e-sign process by entering the received OTP.
- After completing this step, you have successfully completed your account and KYC process on Groww. Now you can start investing in available direct mutual funds and stock trading facilities.
- Generally, it takes 24 hours to activate your account and send a CMR with BO ID or Demat account number on the registered email ID.
Is Groww App Safe?
Groww is registered with SEBI and AMFI as a stockbroker, and has a membership of BSE and NSE. So it is completely safe to use it for your investment purpose. For more details about its registration, you can visit Groww’s official site and scroll down at the bottom of the homepage.
Benefits of Using Groww App
There are several advantages of using Groww as a stock market trading and investment platform. Below are some crucial points that make it an ideal stock trading platform to invest in.
- It provides a commission-free trading facility on direct mutual fund investment.
- Opening Demat and trading an account with this stock trading platform is easy.
- Registered users have options directly in US stocks, US ETFs, and digital golds.
- Its user interface is very user-friendly compared to other stock brokerage service providers.
- It also provides a fingerprint scanner unlock feature on the mobile app version.
- Investors can add funds through UPI payment options.
Disadvantages of Using Groww App
Here are some disadvantages of using a discount broker to invest in available options.
- This trading platform does not offer any currency and commodity trading facility.
- The app does not offer any trading recommendations, advice, or analysis.
- This app does not offer advanced features like brackets, cover orders, GTT, and AMO orders.
- The app also does not provide research reports on shares to the users.
Conclusion
Groww is one of the best discount brokers for investors willing to mainly invest in direct mutual funds. It does not charge any fees for this facility and ensures a seamless experience. Moreover, you can also perform day trading and delivery trades to make money by participating in the stock market. It charges low brokerage and ensures secure financial and trading transactions. If you are looking for a reliable discount broker with the lowest brokerage charge, choosing Groww can be suitable.