A comprehensive Groww app review
Welcome to our comprehensive review of the Groww app, a popular investment platform. In this article, we explore the features, functionality, and user experience of Groww, helping you make informed decisions about your investments.
Whether you’re a beginner or an experienced investor, this review will provide you with valuable insights to navigate the Groww App effectively. Join us as we delve into its offerings, analyze its pros and cons, and uncover how Groww can enhance your investment journey.
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Groww app Discount Broker
Based in Bangalore, Groww is a discount broker that offers flat-fee brokerage services for Equity, IPO, and Direct Mutual Fund investments. Nextbillion Technology Private Limited operates under the brand name Groww and is a SEBI-registered stockbroker and a member of NSE and BSE.
Initially launched as a direct mutual fund investment platform in 2016, Groww has since expanded its product offerings to include Equity trading, Digital gold, US Stocks, and Fixed Deposit options for its customers. Groww, the company’s trading platform, offers investors a smooth trading experience and is accessible via both a web-based platform and a mobile application.
It’s a secure app with 128-bit encryption and has earned high ratings from users, making it one of India’s fastest-growing platforms with over 15 million users in more than 900 cities across India rely on Groww for their investment requirements.
Products and services
- Mutual Funds
- Stocks
- Futures & Options
- ETFs
- IPO
- Sovereign Gold Bond (SGB)
- US Stocks
Education
Groww Blog: A learning platform for new investors and traders.
Pricing
| Charges | Equity Intraday | Equity Delivery | Futures | Options |
| Brokerage | ₹20 or 0.05% per order whichever is low | ₹20 or 0.05% per order whichever is low | ₹20 per order | ₹20 per order |
| Transaction | NSE: 0.00345% BSE: 0.00345% On both buy and sell |
NSE: 0.00345% BSE: 0.00345% On both buy and sell |
NSE:0.0019% On both buy and sell |
NSE: 0.05% on premium On both buy and sell |
| STT (security transaction tax) | 0.025% on sell | 0.1% on buy and sell | 0.0125% on sell | 0.0625% on premium, on sell |
| Stamp Duty | 0.003% on buy | 0.015% on buy | 0.002% on buy | 0.003% on buy |
| SEBI Turnover | 0.0001% both buy and sell | 0.0001% both buy and sell | 0.0001% both buy and sell | 0.0001% both buy and sell |
| DP | ₹0 | ₹13.5 per company on sell | ₹0 | ₹0 |
Other charges
- Auto Square-off charges ₹50 per position for open intraday positions by system
- GST 18% on brokerage, DP changes, Exchange Transaction charges, SEBI turnover charge and Auto square-off charges
- Physical delivery of derivatives 0.05% of contract value
Advantages of using Groww as an investment platform
- Simple and Transparent Pricing Model: Groww offers a simple pricing model with a flat brokerage fee of Rs 20 per trade, which makes it affordable for users with small investment portfolios.
- Zero Account Opening and Demat AMC Charges: Groww does not charge any account opening of Demat AMC fees, making it an affordable option for investors.
- Instant Paperless Account Opening: The platform offers a hassle-free and quick account opening process that is completely paperless.
- Direct Mutual Funds Platform: Groww offers a direct mutual fund platform that allows users to invest in mutual funds without any intermediary, thereby providing an extra 1.5% return.
- Online IPO Application: Users can apply for IPOs online using Groww, making it convenient for investors to invest in the primary market.
- Option to Invest in Digital Gold: Groww offers an option to invest in digital gold, which allows users to buy and sell gold in a paperless form, making it an easy and hassle-free investment option.
- Trading in SME Shares: Groww allows users to trade in SME shares, providing an opportunity to invest in small and medium-sized companies.
Disadvantages of using Groww
- Limited Investment Products: Groww has limited investment products, and users cannot trade in commodities or currencies.
- No Call and Trade Services: The platform does not offer call and trade services, which can be inconvenient for users who prefer to place orders over the phone.
- Groww does not offer any stock tips, research reports, or recommendations, which could be a disadvantage for inexperienced investors.
- No NRI Trading: The platform does not offer NRI trading, which may be a drawback for non-resident Indians who want to invest in the Indian stock market.
- No Margin Trading Facility: Groww does not offer a margin trading facility, which may be a disadvantage for users who want to trade with leverage.
- No Branch Support: The platform does not have any physical branches, which may be a drawback for users who prefer face-to-face interactions.
- No SME IPOs: The platform does not offer SME IPOs, which may be a disadvantage for investors who want to invest in small and medium-sized enterprises.
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In this post i have done review of Groww app for trading in stock market. Groww app having very good user interface and anyone can use it very easily. Groww app is safer for investment in stock market & Mutual funds.
frequently asked questions
Que 1. What is Groww?
Ans. Groww is an online investment platform that allows users to invest in a variety of financial instruments, such as mutual funds, stocks, and gold. It offers a user-friendly interface, easy-to-use tools, and low fees.
Que 2. Is Groww safe?
Ans. Yes, Groww is a safe investment platform. It is registered with the Securities and Exchange Board of India (SEBI) as a mutual fund distributor and is also a member of the Association of Mutual Funds in India (AMFI). The platform uses bank-level security features to protect user data.
Que 3. How do I open a demat account on Groww?
Ans. To open an account on Groww, you need to download the app or visit the website, fill in your personal details, and complete the KYC (know your customer) process. You will need to provide your PAN card, Aadhaar card, and bank account details for the KYC process.
Que 4. What are the fees for using Groww?
Ans. Groww charges a nominal fee for its services. There are no account opening Charges, amc or maintenance charges. The platform charges a commission on mutual fund transactions, which ranges from 0.05% to 1.5%, depending on the mutual fund scheme.
Que 5. What financial instruments can I invest in on Groww?
Ans. You can invest in a variety of financial instruments on Groww, including mutual funds, stocks, gold, and fixed deposits. The platform offers a wide range of mutual funds from different asset management companies and across different categories.
Que 6. Can I invest in international stocks on Groww?
Ans. Yes, you can invest in international stocks on Groww. The platform offers a feature called Groww Global, which allows you to invest in US stocks such as Apple, Amazon, and Tesla.
Que 7. How do I make a transaction on Groww?
Ans. To make a transaction on Groww, you need to select the financial instrument you want to invest in, enter the investment amount, and confirm the transaction. You can make transactions using your linked bank account, UPI, or net banking
Que 8. Can I track my investments on Groww?
Ans. Yes, you can track your investments on Groww. The platform provides real-time updates on your investment portfolio, including the current value, returns, and performance of each investment. You can also set up alerts and notifications to stay informed about your investments.
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