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Nuvama Vs Groww: Which one is better?

Both the brokers are registered with SEBI. Nuvama offers investmenet in Equity, F&O, Currency and Commodities, where Groww offers investment in Equity, F&O and Currency only. The brokerage of Nuvama Max Rs 10 per trade while the brokerage of Groww Max Rs 20 per trade. Both the brokers are Discount Brokers. Nuvama is having overall lower rating compare to Groww. Nuvama is rated only 3.5 out of 5 where Groww is rated 4 out of 5. Number of active customer for Groww is 51,65,760 where number of active customer for Nuvama is 2,19,314. Groww is serving more customer compare to Nuvama.

Here we present side-by-side comparison of Nuvama vs Groww share brokers in India. The comparison is based on more than 100+ attributes for clear decision making. To be precise, we have compared Nuvama vs Groww's on brokerage plans, Plan types, Customer Service, Maintenance fees, AMC, Trading Platforms, Rating, Reviews, Mobile App, Margin/Leverage/Exposure, Demat Account and Investment Options provided to Share Brokers in India. This will help you in make up your mind and clear things for you so that you can choose the best broker for youself. We also help our visitors with account opening.

Here we present side-by-side comparison of Nuvama vs Groww share brokers in India. The comparison is based on more than 100+ attributes for clear decision making.

To be precise, we have compared Nuvama vs Groww's on

  • Brokerage plans
  • Plan types
  • Customer Service
  • Maintenance fees
  • AMC
  • Trading Platforms
  • Rating
  • Reviews
  • Mobile App
  • Margin/Leverage/Exposure
  • Demat Account
  • Investment Options
  • And many more attributes

This will help you in make up your mind and clear things for you so that you can choose the best broker for yourself. We also help our visitors with account opening.

Compare Nuvama vs Groww on Service

  Nuvama Compare
Nuvama
Groww Compare
Groww
Overall Rating Rated 3.5 stars Rated 4 stars
Brokerage Charges Rated 3 stars Rated 4.5 stars
Trading Platform Rated 3.5 stars Rated 4 stars
Investments Offering Rated 4 stars Rated 4 stars
Customer Service Rated 3.5 stars Rated 4 stars
Broker Type What is this parameter? Discount Broker Discount Broker
Exchanges Supported What is this parameter? BSE, NSE, MCX, NCDEX NSE, BSE
Active Clients 2,19,314 51,65,760
Broker Overview One of the leading full-service brokerage firms with a long-standing track record since 2008 offering Free Nuvama Wealth Demat & Trading account + Trade at Rs. 10 flat brokerage charges + free experts research & advisory + Get access to the i... Know more about Nuvama Groww is the top broker for beginners with a crystal clear user interface-enabled safe & secure Groww App & a web-based platform to invest in direct mutual funds for free and trade-in equity & derivatives segment at Rs. 20/order flat brok...Know more about Groww
Broker Enquiry Request call back from Nuvama Request call back from Zerodha
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Account Opening Charges and AMC

Compare Nuvama vs Groww on Trading & Demat Account Opening Charges

Comparison of Nuvama with Groww on trading & demat account opening charges and AMC. Trading account opening charges - Both broker offers Free Trading account opening. Demat AMC charges - Groww offer Free AMC for Demat account where Nuvama charges Lite:Rs.300, Elite:Rs.500p.a. [Free 1st Year] AMC for Demat account.

Trading & Demat Account Opening Charges - Compare Nuvama with Groww
Charges Nuvama Groww
Trading Account Opening Fees Free Free
Trading AMC Free Free
Demat Account Opening Fees Free Free
Demat AMC Lite:Rs.300, Elite:Rs.500p.a. [Free 1st Year] Free
Provide DP Service Yes Yes
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About Brokerage Plans

Compare Nuvama vs Groww on Plan Options

Plans are the most important feature you look when compare Nuvama with Groww. This section compare on high level about type of plans offered by brokers. Multiple Plans - Nuvama provide Multiple Plans where Groww doesn't offer. Monthly Plans - Both the brokers don't have Monthly Plans.

Compare Nuvama with Groww on Plan Options
Plan Types Nuvama Groww
Multiple Plans Yes No
Monthly Plans No No
Yearly Plans No No
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Account Opening Request

Account Opening

  Nuvama Zerodha
Account Opening Request
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Brokerage Charges

Compare Nuvama vs Groww on Brokerage Charges

Nuvama Brokerage Plan detail - This plan is available to Online users only. With this plan, Nuvama Wealth is preparing for competition with Discount brokers. Account opening is free and No Demat AMC with this plan.

Groww Brokerage Plan detail - Flat brokerage plan that charges Rs. 20 per order on trading in intraday segment whereas offers free delivery trading.

Brokerage Charges - Compare Nuvama with Groww
Brokerage Charges Compare Nuvama Groww
Plan Name Nuvama Lite Flat Brokerage Plan
Equity Delivery Flat Rs. 10 per executed order 0.05% or Rs 20 whichever is lower
Equity Intraday Flat Rs. 10 per executed order 0.05% or Rs 20 whichever is lower
Equity Futures Flat Rs. 10 per executed order Flat Fee Rs 20
Equity Options Flat Rs. 10 per executed order Flat Fee Rs 20
Currency Futures Flat Rs. 10 per executed order Not Available
Currency Options Flat Rs. 10 per executed order Not Available
Commodity Trading 0.01% Not Available
Minimum Brokerage NIL NIL
Hidden Charges Info Not Available Info Not Available
Funding Yes - 24% interest PA Info Not Available
Call & Trade Charges Rs 20 per call Rs 50 Per Executable Order
Auto Square off Charges Rs 20 Rs 50 Per Executable Order
Brokerage Calculator Brokerage Calculator for Nuvama Brokerage Calculator for Groww
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Share Broker's Transaction Charges

Compare Nuvama vs Groww on Transaction Charges

Compare Nuvama with Groww on transaction charges and PCM fee by segment.

Transaction Charges - Compare Nuvama with Groww
Transaction Charges Compare Nuvama Groww
Equity Delivery Rs 325 Per Cr Rs 325 Per Cr
Equity Intraday Rs 325 Per Cr Rs 325 Per Cr
Equity Futures Rs 190 Per Cr Rs 210 Per Cr
Equity Options Rs 5000 Per Cr Rs 5500 Per Cr
Currency Futures Rs 110 Per Cr NA
Currency Options Rs 4000 Per Cr NA
Commodity Non-Agri: Rs 260 Per Cr | Agri: Rs 175 Per Cr NA
Brokerage Charges Complete Brokerage Plans for nuvama Complete Brokerage Plans for groww
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Account Features

Compare Nuvama vs Groww on Account Features

Compare Nuvama with Groww on Account Features like 3-in-1 account, Algo Trading, NRI Trading, Margin Trading Funding and many more. Account Type - both the brokers offers 2-in-1 account which includes trading and demat account. Algo Trading - Nuvama offers Algo Trading where Groww doesn't offers Algo Trading. Margin Funding - Both broker offers a margin funding. Interest need to be paid on borrowed money. NRI Trading - Nuvama offers NRI where Groww doesn't offers NRI Trading.

Account Features - Nuvama with Groww
Account Features Compare Nuvama Groww
3 in 1 Account No Nuvama have 2-in-1 account. Only Demate and Trading account. No Nuvama have 2-in-1 account. Only Demate and Trading account.
Charting Yes Yes
Algo Trading Yes No
SMS Alerts Yes No
Online Demo Yes No
Online Portfolio Yes Yes
Margin Trading Funding Available Yes Yes
Combined Ledger for Equity and Commodity No No
Intraday Square-off Time 3:15PM 3:10 PM
NRI Trading Yes No
Other Features NIL NIL
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Trading Platform

Compare Nuvama vs Groww on Trading Platform

With our expert research team, we have compared all the major features of Trading platform b/w Nuvama and Groww. This comparison covers Desktop Trading Platform, Web, Mobile for Windows, Android and iOS. We have provided links for mobile app to download and demo links for easy access.

Trading Platform - Compare Nuvama with Groww
Trading Platform Compare Nuvama Groww
Desktop Trading Platform Xtreme Trader
Desktop Demo Desktop Demo Info Not Available
Desktop Platform (Windows) Yes No
Desktop Platform (Mac) No No
Web Trading Platform Yes Yes
Web Trading Detail https://tlounge.edelweiss.in/Login Yes
Web Trading Demo Info Not Available Info Not Available
Mobile Site Yes Yes
Mobile Trading Yes Yes
Mobile Trading App Nuvama Mobile Trader Yes
Mobile Trading App Demo Nuvama Mobile Trader Demo Info Not Available
Android Mobile App Yes Yes
Android App Download Andriod Nuvama Mobile Trader Download Andriod Yes Download
iPhone Mobile App (IOS) Yes Yes
iOS App Download iOS Nuvama Mobile Trader Download iOS Yes Download
Android Tablet App Yes Yes
iPad App (IOS) Yes Yes
Trading Software Charges Free Free
Equity Brokerage Calculator Equity Intraday and Delivery Brokerage Calculator for Nuvama Equity Intraday and Delivery Brokerage Calculator for Groww
Futures Brokerage Calculator Futures Brokerage Calculator for Nuvama Futures Brokerage Calculator for Groww
Options Brokerage Calculator Options Brokerage Calculator for Nuvama Options Brokerage Calculator for Groww
Detail Detail on Trading Platforms for nuvama Detail on Trading Platforms for groww

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Broker Ratings by Users

Compare Nuvama vs Groww on User Rating

  Nuvama Groww
  3 Customer Reviews    Rate Nuvama 6 Customer Reviews    Rate Groww
Fees Ratings 2.7 4.3
Trading Brokerage Rating 3.3 4.0
Trading Platform Usability 3.7 4.3
Customer Service Ratings 2.0 3.5
Overall Ratings Rated 2.3 stars Rated 4.5 stars
Broker Rating Nuvama is Rated 2.3 / 5 based on 3 customer reviews Groww is Rated 4.5 / 5 based on 6 customer reviews
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Investment Offerings

Compare Nuvama vs Groww on Investment Offerings

Compare Nuvama with Groww on Investment Offerings like Online IPO Application, Equity Cash and F&O, Currency, Commodity Trading, Mutual Funds Investment, Bonds/NCD, EFT, Banking, Insurance, Forex Trading, Mutual Funds SIP, Equity SIP, PMS Services. Equity and Equity deravitives - Both broker offers trading/investment options in Equity and Equity Derivatives on both the exchanges NSE/BSE. Commodity Trading - Nuvama offers trading options in Commodity (MCX) where Groww doesn't offer. Online Mutual Fund Investment - Both broker offers online mutual fund investment option. Portfolio Management Services (PMS) - Nuvama provide PMS Service where Groww doesn't offer

Investment Offerings - Compare Nuvama with Groww
Investment Offerings Compare Nuvama Groww
Equity Cash and F&O Yes Yes
Currency Deravitives Yes No
Commodity Yes No
Online IPO Application No Yes
Mutual Funds Yes Yes
Bond / NCD Yes No
ETF Yes Yes
Banking No No
Insurance Yes No
Forex No No
MF SIP Investment Yes Yes
Equity SIP Investment Yes No
PMS Service Yes No
Other Investment Options NIL NIL
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Order Types

Compare Nuvama vs Groww on Order Types

Order Type - Compare Nuvama with Groww on offerings of order types. All the brokers provide CNC Order, MIS Order, NRML Order. The difference comes with the advance order type like cover order, bracket order, AMO and GTC order. Cover Orders (CO) - Nuvama provide Cover Orders (CO) where Groww doesn't offer.Cover Orders (CO) is placed an compulsory stop loss and this is a intraday position. With cover order broker give you additional margin, as this order are placed with compulsory SL. Bracket Orders (BO) - Both broker don't have Bracket Orders (BO).With the name its cleare in Bracket orders you lock in a profit by bracketing an order with two opposite-side orders. A BUY order is bracketed by a high-side sell limit order and a low-side sell stop order. You will get higher margin in bracket order as you are limiting your losses. After Market Orders (AMO)- Nuvama offers After Market Orders where Groww doesn't offers AMO. GTC Orders- Both broker doesn't support Good Till Cancelled (GTC) orders.

Order Types - Compare Nuvama with Groww
Order Type Compare Nuvama Groww
CNC order Yes Yes
MIS order Yes Yes
NRML order Yes Yes
Cover order Yes No
Bracket order No No
AMO-After Market Orders Yes No
GTC-Good Till Cancelled No No
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Customer Service Offered

Compare Nuvama vs Groww on Customer Service

Compare Nuvama with Groww on customer service offered by the broker. This section compares types of service offered by each broker for a quick resolution for query/issue you have.

Customer Support - Compare Nuvama with Groww
Customer Service Compare Nuvama Groww
24/7 Customer Service Nuvama vs Groww - 24x7 customer support No No
Email Support Nuvama vs Groww - Email Support Yes Yes
Onine Live Chat Nuvama vs Groww - Onine Live Chat No Yes
Phone Support Nuvama vs Groww - Phone Support Yes Yes
Toll Free Number Nuvama vs Groww - Toll Free Number Yes No
Through Branches Nuvama vs Groww - Through Branches Yes No
Customer Care Number Nuvama vs Groww - Customer Care Number 1800 102 3335 9108800604
Account Opening Process Nuvama vs Groww - Account Opening Process Online/Paperless Online
Customer Support Email Nuvama vs Groww - Customer Support Email [email protected] [email protected]
Knowledge Center/Education Nuvama vs Groww - Knowledge Center/Education https://www.nuvamawealth.com/investology https://groww.in/academy
Head Office Address Nuvama vs Groww - Head Office Address/Corporate Address Edelweiss House,
Off CST Road,
Kalina,
Mumbai - 400098
Groww Head Office
1st Floor, Proms Complex, SBI Colony,
1 A Koramangala, 560034
Website Nuvama vs Groww - Company Website https://www.nuvamawealth.com/ https://groww.in/
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Tips/Research/Reports Published

Compare Nuvama vs Groww on Research Reports, Tips

Compare Nuvama with Groww on research reports and tips provided by the broker.

Research Reports - Compare Nuvama with Groww
  Nuvama Groww
Research Mutual Funds Nuvama vs Groww - Research Mutual Funds Yes No
Research Equity Reports Nuvama vs Groww - Research Equity Reports Yes No
Research ETF Nuvama vs Groww - Research ETF Yes No
Daily Market Report Nuvama vs Groww - Daily Market Report Yes No
Free Tips Nuvama vs Groww - Free Tips Yes No
Quarterly Result Analysis Nuvama vs Groww - Quarterly Results Yes No
News Alerts Nuvama vs Groww - Yes No
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Demat Account

Compare Nuvama vs Groww on Demat Account

Compare Nuvama with Groww on Demat Service and Charges. When compare Broker A with Broker B on Dmeat account, we mainly focus on two points - Demat AMC and Debit Transaction Charges.

Demat AMC are the charges which one need to pay every year to maintain demat account. Some brokers offer Demat AMC for free, some charge onetime fee, some charge per annum fee. This is your recurring cost, so one should consider this cost when opening Demat account.

Demat AMC for Nuvama is Free (₹1500 one time charges) where for Groww is Zero. Nuvama is a better choice in terms of Demat AMC compare to Groww.

Second charges which we want to discuss are transaction charges on debit of shares or MF. For IPO, MF, Delivery trading – when one sell the script, there are debit transaction charges. These charges are apart from your brokerage and other regularity charges one need to pay.

Transaction charges on debit of ISIN for Nuvama is 0.02% of transaction value or ₹20 per transaction whichever is higher where for Groww is ₹8 + ₹5.50 CDSL charges.You can see this charges on debit of Equity/Mutual Funds from your demat account.

This section covers about demat charges, demat service and other details

Demat Charges - Compare Nuvama with Groww
  Nuvama Groww
DP Source CDSL CDSL
DP ID Nuvama vs Groww - DP ID 19100 No
Demat Account Annual Maintenance Charges(AMC) Free (₹1500 one time charges) Zero
Advance Deposit NIL Nil
Statutory charges Nil Legal Charges
Transaction Charges on Debit (Per ISIN) 0.02% of transaction value or ₹20 per transaction whichever is higher ₹8 + ₹5.50 CDSL charges
Demat ₹2 per certificate + ₹30 courier charges ₹150 per certificate + courier charges
Remat ₹10 for every hundred securities after that ₹10 per request + ₹30 request charges ₹150 per certificate + courier charges
Pledge Creation 0.02% of transaction value (Min ₹50) ₹20 + Rs. 12 per request (CDSL Charges)
Pledge Creation Confirmation Nil ₹20 + Rs. 12 per request (CDSL Charges)
Pledge Closure 0.02% of transaction value (Min ₹50) ₹20 + Rs. 12 per request (CDSL Charges)
Pledge Closure Confirmation Nil ₹20 + Rs. 12 per request (CDSL Charges)
Pledge Invocation 0.02% of transaction value (Min ₹50) ₹20 + Rs. 12 per request (CDSL Charges)
Failed Instruction Charges Nil ₹50
Other Charges Nil Nil

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Special Offers,Advantages,Disadvantages

Compare Nuvama vs Groww on Special Offers and Promotion

Compare Nuvama with Groww on the general features, advantages, disadvantages, payout options, payout time, bank supported and charges, special offers and promotion.

Compare Nuvama vs Groww on Special Offers and Promotion
  Nuvama Groww
Pay In and Pay Out Options Nuvama vs Groww - Pay In and Pay Out Options Pay-in/adding funds - Cheque, Online Bank Transfer via IMPS,NEFT or RTGS, UPI, Netbanking/Payment Gateway from Terminal X3,Nuvama Web,Mobile Trader.
Pay-out/Fund Withdrawal - Bank Transfer only
pay-in/adding funds - Cheque, UPI, Online Bank Transfer via IMPS,NEFT or RTGS, Netbanking from Goww
Pay-out/Fund Withdrawal - Bank Transfer only
Payout Time Nuvama vs Groww - Payout Time Upto 24 Hrs except Bank Holidays. Max 24 hrs except bank holidays
Bank Supported and Charges Nuvama vs Groww - Bank Supported and Charges Info Not Available Around 25 banks allow instant credit facility with charges of Rs 9 from Groww trading platform.
Bank Detail Nuvama Wealth,
Account Number:EBL1XXXXXXXXX
Bank and Branch: CitiBank, Mumbai
Account Type: Current Account
IFSC Code: CITI0100000
Info Not Available
Likes
  • Trade and invest on BSE, NSE, and MCX.
  • 10 per order flat brokerage trading.
  • Trade at either a flat brokerage fee (Lite) or %-based brokerage plan (Elite).
  • Add-on services with Elite plan; free call & trade, free RM, etc.
  • Free mobile app, web, and desktop trading terminal.
  • Get Nuvama API connect for free. (Limited time offer)
  • Get free expert research, advisory, and trading tips.
  • Investology, is a stock market learning platform for beginners to experts.
  • Margin trading facility.
  • Offline branch-based customer support is available.

Detail Review...

Despite brokerage-free mutual fund investment and flat brokerage trading, Groww offers many trading advantages (Pros) pointed as follows;

  • Pay Rs. 20 flat brokerage charges.
  • Zero account opening fees on Groww Trading & Demat Account.
  • Zero Demat account maintenance charges.
  • Free direct mutual fund investment at nil brokerage and get an extra upto 1.5% return.
  • Easy-to-use, safe, and reliable Groww App and Web platform.
  • Apply for IPO online via UPI.
  • Invest in digital gold, US stocks, US ETFs, and FDs.
  • Get the latest trending news and updates on the Groww Digest.
  • Groww Academy is a 100% free learning platform for beginners.
  • Zero fixed charges.
  • Zero hidden charges.

Detail Review...

Dislikes
  • It does not provide a 3-in-1 account opening facility.
  • NRIs cannot open Nuvama Demat and Trading Account.
  • Call & trade, and research services are not free for the Lite brokerage plan subscribers.

Detail Review...

Limited trading product availability is a key limitation or drawback of trading with Groww. Check out the list of Groww Trading cons as follows;

  • Groww does not offer commodity and currency trading.
  • Groww does not provide research, trading tips, and recommendations.
  • NRIs cannot open Groww account.
  • Advanced orders like Bracket order, Cover order, GTT, and AMO order is unavailable.
  • Delivery trading is not free.
  • No call & trade facility.
  • No margin trading.

Detail Review...

Special Offers/Promo
Enquiry Open Nuvama Account Now>> Open Zerodha Account Now>>

Last Updated on 2023-01-02T04:00:04+00:00