Groww Review

Rated 3/5 by Top Share Brokers Team
Groww Review

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Groww, the Bangalore-based discount brokerage firm was incorporated in 2016. Initially, Groww was established as a FREE direct mutual fund investment platform. Groww online platform; Groww App and web allow investment in direct mutual funds from 35+ AMCs at zero brokerage or commission, therefore, known as the best broker for mutual funds investment.

Although, initially, the broker was just offering direct mutual fund schemes but later, started adding other investment products to its existing product portfolio. In June 2020, Groww launched equity trading thus, people who have opened Free Grow Demat and trading Account can now trade in stocks. Presently, Groww offers equity intraday trading, delivery trading, digital gold, IPO, ETF, US stocks, and it will soon start offering bank FDs for risk-averse investors. The provides super fast, easy, and transparent online platforms; Groww app and Groww web. This is another key reason behind growing popularity of Groww among beginners or newbie.

In terms of brokerage charges, Groww is highly competitive broker as it allows zero brokerage delivery trading and intraday trading is charged at Rs. 20 per order or 0.05% whichever is lower. It also offers margin facility on intraday trading. However, Groww DP charges is Rs. 13.5 + GST. Groww offers customer assistance over e-mail and online “Help & Support” option over Groww web and Groww mobile app. The broker has no branches anywhere in the country thus, offline services are unavailable. Further, it has no call centers or toll-free number to provide telephonic services.

Groww Review 2021 - Quick Summary

Groww app is the best direct mutual fund investment platform at nil brokerage and trade at the maximum chargeable brokerage of Rs. 20 per executed order in stocks and derivatives segment.


Benefits

  • Zero-brokerage mutual fund investment.
  • Open Free Groww Demat and Trading Account, Limited time offer, sign up now.
  • Free delivery trading at nil brokerage.
  • Flat brokerage of Rs. 20 per order or 0.05% on equity intraday trading.
  • Super-fast, transparent, convenient, and easy to use trading platforms like the Groww app and the Groww web.
  • Online IPO investment with Groww web.
  • Explore US stocks and invest in overseas markets.
  • Quick and instant customer support.

Considerations

  • Limited investment product as people can’t trade in commodity and currency segment.
  • Residents can’t open Groww 3-in-1 account (Demat + Trading + Bank account).
  • NRI trading is not available.
  • No call centers anywhere or no toll-free number.
  • Call & Trade is not offered.
  • No offline presence due to the absence of a physical branch office.

Special Offer

Groww offers Free Demat and Trading Account, this is a limited time offer, Open account now.

Request call back from Groww

Groww Investment Options Compare

Here we are comparing Groww with its 5 close competitors on investment options.

Broker Groww Sharekhan 5paisa Zerodha SAMCO
Equity Trading Type Yes Yes Yes Yes Yes
Currency Trading No Yes Yes Yes Yes
Commodity Trading No Yes Yes Yes Yes
Mutual Funds Yes Yes Yes Yes Yes
MF SIP Yes Yes Yes Yes No
ETF Investment Yes Yes Yes Yes Yes
Banking No No No No No
Insurance No Yes Yes No No

Groww Brokerage Plan, Fees and Charges

Brokerage and Commission Rated 4/5

Groww Account Opening Charges

      »»  Trading Account Opening Charges: Free
      »»  Trading Account AMC: Free
      »»  Demat Account Opening Charges: Free
      »»  Demat Account AMC: Free

Groww Brokerage

Groww is a discount brokerage house that has a flat brokerage plan to charge a fixed brokerage of Rs. 20 per order or 0.05%, whichever is lower on trading in different segments and offers free delivery trading.

Segment Groww Brokerage
Equity intraday Rs. 20 per executed order or 0.05%, whichever is lower
Equity Delivery Free
Equity futures Rs. 20 per executedorder or 0.05%, whichever is lower
Equity Options Rs. 20 per executed order
Currency futures Not Available
Currency options Not Available
Commodity futures Not Available
Commodity options Not Available
Direct Mutual Fund Investment Free

Pros

  • Free delivery trading.
  • Flat brokerage of Rs. 20 per order on intraday trading.
  • Free IPO and MF investment.

Cons

  • No percentage based brokerage plan.

Groww Other charges

  • Groww DP charges: Rs. 8 + Rs. 5.5 = Rs. 13.5 + applicable GST.
  • Payment gateway charges: Rs. 9 + GST.
  • Auto Square off charges: Rs. 50
  • Account Modification charges: Rs. 50

For complete brokerage charges and trading plans detail please visit Groww Brokerage Charges.

Groww with closest competitors

Here we are comparing Groww with its 5 close competitors, who are currently market leader in brokerage industry.

Broker Groww Sharekhan 5paisa Zerodha SAMCO
Service Type Discount Broker Full Service Broker Discount Broker Discount Broker Discount Broker
Brokerage Range Rs 20 0.1 to 0.5% Rs 20 Rs 20 Rs 20
Account Type 2 in 1 2 in 1 2 in 1 3 in 1 2 in 1
Equity Delivery Free 0.5% or 50 paisa Flat Fee Rs 20 Free 0.2% or Rs 20 whichever is lower
Equity Intraday Rs. 20 or 0.05% whichever is lower 0.1% or 10 paisa Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.02% or Rs 20 whichever is lower
Equity Futures Not Available 0.1% or 10 paisa Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.02% or Rs 20 whichever is lower
Equity Options Not Available 2.5% of Premium or Rs 250 per lot whichever is high Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20
Commodity Not Available 0.1% or 10 paisa Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20
Currency Futures Not Available 0.1% or 10 paisa Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.02% or Rs 20 whichever is lower
Currency Options Not Available 2.5% of Premium or Rs 30 per lot whichever is high Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20
Rating

Please refer unique and accurate Groww Brokerage Calculator


Open Trading and Demat Account with Groww

Indian citizens can open a Groww 2-in-1 means demat and trading account. The broker offers an online onboarding process through the Groww app or website.

Groww Demat Account

    Groww being a CDSL depository participant offers Groww Demat account to facilitate customers to keep stocks, mutual funds, IPO, digital gold, etc. in an electronic format. Residents can open Free groww demat account at zero account opening charges and Zero demat AMC charges.

Groww Trading Account

    Groww Trading Account allows buying and selling stocks, mutual funds, digital gold, ETFs, and applying IPO online. Currently, the broker is offering Free trading account opening facility at nil charges. It is to be noted that Groww only facilitates residents to start online trading.

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Alternatives to Groww

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Groww Trading Platform and Tools

Trading Platforms Rated 3/5

    Groww offers a web-based trading platform – Groww web and mobile trading app – Groww app offers online trading services to its clientele.

    Groww Mobile App

    Groww has launched an official mobile app in its own brand name ‘Groww’. Groww mobile app allows customers to open demat account online and start investing in stocks and mutual funds. The app can be installed on Android and iOS devices.

    Groww Web Trading Platform

    Groww website (https://groww.in/) is a web-based online trading platform that offers multiple products such as investing in stocks, direct mutual funds, digital gold, IPO, US stocks, etc. Groww web platform will soon start offering FDs of multiple banks.

    For detail review of mobile app and download please visit Groww Trading Platform Review.

Groww Trading Platform Compare

Here we are comparing Groww with its 5 close competitors on Trading Platform.

Broker Groww Sharekhan 5paisa Zerodha SAMCO
Desktop Windows No Yes Yes Yes Yes
Desktop Mac No No No No No
Web Trading Yes Yes Yes Yes Yes
Android Tablet App Yes Yes Yes Yes Yes
Android Mobile App Yes Yes Yes Yes Yes
iPhone App (iOS Mobile App) Yes Yes Yes Yes No
iPad App Yes Yes Yes Yes No
Mobile Site Yes Yes Yes Yes Yes

Final thought about Groww

Rated 3/5 by 20 users

Groww is undoubtedly the best platform for commission-free direct mutual funds investment. MF investors can open Groww account and invest in direct schemes from 35+ AMCs. Moreover, free equity delivery trading and flat brokerage on intraday trading made the broker one of the preferred choice among traders. The broker further facilitates investing in digital gold and IPO on Groww web. Groww App is Indias fastest growing platform with having 90 lakh+ users, However, commodity, and currency traders cannot choose Groww for online trading. Further, the absence of call centers and no physical branches are the biggest drawbacks that directly affect customer services.

If you like what you have read and want to open an trading and demat account with Groww, leave your contact information with us and we will guide you.

Last updated on 2021-01-19



Groww FAQs

  1. 1. How to withdraw money from Groww?

    Whatever amount you have added to your Groww account will be shown in Groww balance. You can withdraw money anytime anywhere using the following steps:

    1. Login to Groww on mobile app and website.
    2. Go to the “withdraw” option.
    3. Now, enter the amount and then tap on the “withdraw” button.
    4. The amount will be soon credited to your mutual fund account.

     

     

  2. 2. Who is the founder of Groww?

    Groww was founded by former Flipkart employee - Lalit Keshre with his three friends Harsh Jain, Neeraj Singh, and Ishan Bansal. The founder has started Groww with the key objective to provide safe, secure, convenient, fastest, and easy to use online trading platform.

     

     

  3. 3. How to start Groww online trading?

    Groww, the discount brokerage firm offers intraday as well as delivery trading. Here is the step to start Groww online trading;

    1. Download the Groww app or access Groww web on any browser.
    2. Log in to the Groww app or web.
    3. Add your favorite stocks to the watchlists.
    4. Click on the “Buy” or “sell” option to place the required order.

     

     

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