Groww is a popular online discount broker in India that offers a range of financial products and services, including stocks, mutual funds, and digital gold. The company was founded in 2016 by four IIT alumni, and it has quickly gained popularity among investors due to its easy-to-use platform and zero commission fees.
Groww’s mobile app and website offer a user-friendly interface for buying and selling stocks and other investment products. The platform provides real-time market data, portfolio tracking, and research tools to help investors make informed investment decisions. Additionally, Groww offers a range of mutual funds, including direct mutual funds that allow investors to save on expense ratios.
One of the significant advantages of Groww is its zero commission fees on all investment products, which can be a significant cost-saving for investors, especially for those who invest in stocks frequently. However, it’s essential to keep in mind the other charges involved in stock transactions, such as STT, GST, and stamp duty charges.
Overall, Groww offers a straightforward and easy-to-use platform for investors, making it a good choice for beginners and those looking to invest in mutual funds or stocks without paying any commission fees. However, it may not be suitable for advanced investors who require advanced trading tools and research facilities.
Key Highlights of Groww
- Zero brokerage on all investments in stocks, mutual funds, and digital gold
- User-friendly mobile app and web platform for trading and investing
- Multiple investment options, including mutual funds and digital gold
- Customer support available through chat and email
Groww Brokerage Plan
| Product | Brokerage |
|---|---|
| Equity Delivery | Zero |
| Equity Intraday | 0.03% or Rs. 20/executed order |
| Equity Futures | 0.03% or Rs. 20/executed order |
| Equity Options | Rs. 20/executed order |
| Currency Futures | 0.03% or Rs. 20/executed order |
| Currency Options | Rs. 20/executed order |
| Commodity Futures | 0.03% or Rs. 20/executed order |
| Commodity Options | Rs. 20/executed order |
Groww Online Account Opening
The account opening process with Groww is entirely online, and the entire process can be completed within a few minutes. You need to provide your PAN and Aadhaar card details, bank account details, and personal information to open an account.
Groww Trading Software
Groww does not have any separate trading software or desktop trading platform. Instead, it provides a mobile app and a web platform for trading and investing. The mobile app is available for Android and iOS devices.
Groww Mobile App
Yes, Groww offers a mobile app that can be downloaded on both iOS and Android devices. The app provides a user-friendly interface for investing in mutual funds, stocks, and gold. Users can easily search for various investment products, view their portfolio, and track their investments in real-time.
Some of the key features of the Groww app include:
- Easy account opening process: The app offers a quick and paperless account opening process, allowing users to start investing within a few minutes.
- Mutual fund investments: Groww provides a wide range of mutual funds across different categories such as equity, debt, and hybrid funds. Users can easily invest in mutual funds with a few clicks.
- Direct mutual funds: The app offers direct mutual fund plans that help users save on commissions and increase their returns.
- Stock investments: Groww also allows users to invest in stocks of various companies listed on the Indian stock exchanges, including BSE and NSE.
- Real-time tracking: Users can track the performance of their investments in real-time and get notifications on their investment status.
- Easy transactions: The app offers a simple and hassle-free transaction process for investing, redeeming, or switching mutual fund units.
Overall, the Groww mobile app is a convenient and user-friendly platform for investing in various financial products.
Groww Pros and Cons
Pros:
- Zero brokerage on all investments
- User-friendly mobile app and web platform
- Multiple investment options
- Easy online account opening process
Cons:
- Limited trading and investment options compared to traditional brokers
- No desktop trading platform available
- Research and analysis tools are limited
Groww Margin Exposure
| Product | Leverage |
|---|---|
| Equity Delivery | NA |
| Equity Intraday | Up to 20x leverage |
| Equity Futures | Up to 4x leverage |
| Equity Options | NA |
| Currency Futures | Up to 4x leverage |
| Currency Options | NA |
| Commodity Futures | Up to 2x leverage |
| Commodity Options | NA |
Groww Customer Care
| Method | Details |
|---|---|
| In-app chat | Open the app, tap on “Profile”, then “Support” |
| Send an email to [email protected] | |
| Phone | Call 1800 2700 488 (toll-free) from Monday to Saturday, 9 AM to 6 PM |
| Social media | Reach out through Twitter, Facebook, or Instagram |
Groww provides multiple options for customers to reach out to their customer support team, and they are generally responsive and helpful in resolving issues and answering queries.
Groww Rating
| Rating Agency | Rating | Number of Reviews |
|---|---|---|
| Google Play | 4.5 stars out of 5 | More than 1.1 million |
| Apple App Store | 4.7 stars out of 5 | More than 33,000 |
| Trustpilot | 4.5 stars out of 5 | More than 20,000 |
| Mouthshut | 3.9 stars out of 5 | More than 100 |
It’s important to note that customer ratings and reviews can be subjective and may vary based on individual experiences.
Conclusion
Groww is a user-friendly investment platform that offers a wide range of financial products, including stocks and mutual funds. While Groww offers limited trading tools and features, it can be a good option for beginners or investors who prefer a simple and straightforward trading experience. Groww’s zero brokerage fees for equity delivery trades can also be attractive to investors. Overall, Groww can be a good option for investors who prioritize ease of use and simplicity.
FAQs about Groww Stock Broker
What is Groww stock broker?
Groww is a discount stockbroker in India that offers a range of investment options, including stocks, mutual funds, and digital gold. It was founded in 2016 and has quickly gained popularity due to its zero-commission fee structure and user-friendly mobile app and website.
Is Groww stock broker safe and reliable?
Yes, Groww is a safe and reliable stockbroker in India. It is registered with SEBI (Securities and Exchange Board of India) and is a member of NSE, BSE, and MCX. Additionally, all transactions on the platform are secured with 128-bit SSL encryption and two-factor authentication.
What are the charges for opening a demat account with Groww?
There are no charges for opening a demat account with Groww.
What are the different types of accounts offered by Groww?
Groww offers two types of accounts- a Demat account and a trading account.
How can I open an account with Groww?
You can open an account with Groww by downloading the mobile app or visiting the website and following the steps for online account opening.
What are the documents required for opening a Groww account?
The documents required for opening a Groww account are: PAN card, Aadhaar card, bank account details, and a passport size photo.
Does Groww provide research and analysis reports?
Groww provides basic research and analysis reports for stocks and mutual funds. However, its research and analysis tools are not as advanced as some other full-service brokers.
What is Groww’s brokerage fee structure?
Equity Delivery: Groww does not charge any brokerage fee for equity delivery trades.
Equity Intraday and Futures: Groww charges a flat fee of 0.03% or Rs. 20/executed order (whichever is lower) for equity intraday and futures trades.
Equity Options, Currency Futures and Options, and Commodity Futures and Options: Groww charges a flat fee of Rs. 20/executed order for all these types of trade
Does Groww charge any hidden fees or charges?
No, Groww does not charge any hidden fees or charges. However, there are other charges involved in stock transactions, such as STT, GST, and stamp duty charges, which are levied by the government and regulatory authorities.
What are the trading platforms available with Groww?
Groww offers a mobile app and a web platform for trading and investing.
Does Groww offer margin trading and what are the margin requirements?
Yes, Groww offers margin trading, and the margin requirements vary depending on the stock and the market conditions.
What are the different investment options available with Groww?
Groww offers a range of investment options, including stocks, mutual funds, and digital gold.
How can I withdraw money from my Groww account?
You can withdraw money from your Groww account by placing a withdrawal request on the mobile app or website.
How can I contact Groww customer care?
You can contact Groww customer care through the mobile app or website’s chat feature or by sending an email to [email protected].
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