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 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.
Groww offers Free Demat and Trading Account, this is a limited time offer, Open account now.
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 |
»» Trading Account Opening Charges: Free
»» Trading Account AMC: Free
»» Demat Account Opening Charges: Free
»» Demat Account AMC: Free
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
Cons
Groww Other charges
For complete brokerage charges and trading plans detail please visit Groww Brokerage Charges.
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
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 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 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.
Groww offers a web-based trading platform – Groww web and mobile trading app – Groww app offers online trading services to its clientele.
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 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.
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 |
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 India’s 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
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:
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.
Groww, the discount brokerage firm offers intraday as well as delivery trading. Here is the step to start Groww online trading;
Ratings:
Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor