Groww is one of the major discount broker of India based out of Bangalore. Groww is the brand name of Nextbillion Techlogies Private Limited and they are registered under SEBI and member of stock exchanges such as NSE and BSE.
In this Groww review, I will share my findings about many aspects such as brokerage charges, trading platforms, Margin provided and many more factors.
Groww Review – About Groww:
Groww is mainly known for mutual fund investment platform. This is because, even though they were established in year 2016, they introduced demat account only in 2020.
They started as a direct mutual fund investment platform which enables investors to choose mutual funds directly without any advisors and this saving the commission.
Groww offers services in following segments:
- Equities
- Future and Options
- Fixed Deposits
- Mutual Funds
- Investment in US stocks
Since they are a discount broker, they do not have branches anywhere outside of Bangalore. Also they do not offer any stock research and recommendations.
Groww Brokerage Charges:
But Groww scores well in terms of Account opening charges and Annual Maintenance Charges with no charges for both account opening and AMC. Zerodha charge Rs200 account opening and Rs300 AMC.
Groww brokerage charges are is on par with current brokerage industry. But they are little expensive in delivery brokerage as they charges Rs20/order or 0.05% which ever is lower, whereas Zerodha and Angel Broking charge Zero brokerage in this segment.
Below table captures the segment wise brokerage charges of Groww broker.
GROWW Account Opening and AMC Charges:
Groww does not charges any amount for account opening and also there is no recurring charges in terms of AMC.
All the account opening happens through online mode only. They wont accept any account opening through offline forms submission
But the one thing you can notice is that, currently they do not offer service in commodity segments.
Groww Trading Platform:
Groww broker offers two types of platforms to their customers namely the web based and the mobile app.
They do not have any desktop based platform which can be installed on your PC. Other crucial thing to notice is they do not have any Call and Trade facility. This is in my opinion, was very much required and they should work on that. Because, we never know when a platform crash due to technical issue or the customer may not be able to use mobile data etc.
Groww Mobile App:
The app from Groww is secure and safe using which customers can trade on the go anywhere and anytime.
The app has many inbuilt features which a trader wish to have in any trading app.
- Invest in Nifty 50 (NSE) & Sensex (BSE) listed stocks with live share price movements
- Intuitive and beautiful UI & charts like candlesticks for best trading experience
- 100% paperless online free Demat account opening
- No DP charges on buy & low brokerage on executed orders
- Get the daily list of top gainers, top losers & top by market capitalization
- Get complete stock analysis with company financials like P&L, Balance Sheet, etc & pick your best shares to buy
Groww Web Platform:
This web version of the platforms can be easily accessed using a standard web browser without requiring to install any software.
It has all the features that the app provides and one can track portfolio, buy and sell, invest in IPOs and open fixed deposit.
Groww Advantages and Disadvantages:
Groww Pros :
- Zero Account opening charges and Zero AMC charges
- Instant Account opening with paper less process
- Direct mutual trading platform – invest in mutual funds without paying commission
- Option to invest in Digital gold
- Ebooks and blog post published which help new investors to understand basics of stock market
Groww Cons:
- Can not trade in commodities and currencies
- Delivery brokerage is not Zero
- No research and advisory is provided
- Not a 3 in 1 demat account
Groww Review And Ratings:
| Groww Ratings | |
|---|---|
| Brokerage Charges & Fees | 9.4/10 |
| Trading Platforms | 9.5/10 |
| Products & Services | 9/10 |
| Experience | 8.9/10 |
| Overall Ratings | 9.10/10 |
| Star Ratings | ★★★★ |
In my view Groww is best for.
- Who is looking to open free demat account
- Zero Annual Maintenance Charges
- Online account opening
How To Open Groww Demat Account:
The demat account in Groww can be opened only through online mode. Below are the documents required to open the account,
- PAN Card
- Adhaar Number
- Bank proof such as cancelled cheque or bank passbook/statement
- Photo of the Signature on a white paper
Account can be opened only of your Adhaar is linked with mobile number because you need to share the OTP received on your mobile while opening the account.
Groww Broker Review – Final Thoughts
Groww entered the equity trading space very late in 2016 compared to others big players such as Zerodha and Upstox who were established in 2010.
Those stock brokers had an early mover advantage and already established by the time Groww entered. The main forte of Groww has been Mutual Fund investment and now they have opened up for equity investment.
I do not have account with Groww and not used their service anytime. I have been using Zerodha since 2012.
It has to be seen how Groww manages to scale up thier business and give competition to other players.
Hope this Groww review was helpful to you and in case you already have account with them, please share your ratings and feedback with fellow readers through comments.
Groww FAQs
Question – Is Groww app safe for trading?
Ans : Yes, Groww app is completely safe for trading as it is regulated by SEBI and affiliated to major stock exchanges such as NSE and BSE. They have adopted high security encryption technology for trade execution for their customers.
Question – Can I invest in IPO through Groww App?
Ans : Yes, Groww app can be used to invest in IPOs by the interested customers. The interested client should fill up the IPO application form online and pay for it through UPI route.
Question – Does Groww provide Trading Tips and Recommendation?
Ans : No. Groww belongs to discount broker category and hence do not provide any stock trading tips or recommendations. They only facilitate placing of the trade online with minimal human intervention.
Question – Who are the Founder of Groww?
Ans : Groww was founded by Ex Flipkart employees Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal. It was established in year 2016 in Bangalore with the intention of setting up a transparent investment platform.
Question – Is Groww good for Beginners?
Ans : Yes, Groww is best suited for beginners as well as advanced traders. The brokerage is the plus point because they can save on the brokerage and use that for investing more in the stocks of their choice.
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