Groww is a Bangalore-based broker that provides direct mutual funds, initial public offerings (IPOs), and online flat-fee discount brokerage services. Next billion Technology Private Limited, a stockbroker registered with SEBI and a participant in the NSE and BSE, does business as Groww.
Groww was first launched in 2016 as a platform for direct mutual fund investments. Midway through the 2020s, Groww added equity trading to its lineup of products. The company also provides its clients with Fixed deposits, US Stocks, and Digital Gold as additional investment options.
Groww charges a flat trade fee of either Rs 20 or 0.05%. No matter the quantity or price, the brokerage fee for an order is capped at Rs 20. Groww provides cost-free mutual fund services, including no fees for purchasing or redeeming mutual funds. It offers its investors a seamless trading experience through its trading platform, Groww (web and mobile trading app). It has 128-bit encryption, making it a safe and secure app. As of November 2020, Groww had a strong user base of 90+ lakh users, making it one of India’s fastest-growing platforms. Additionally, it has one of the highest ratings (4.5+) in both the App Store and Google Play Store.
A broker online is called Groww. It does not provide any advice, suggestions, or research services, in contrast to full-service brokers. Groww offers free eBooks, educational blogs, and other resources to help investors and beginners understand the fundamentals of stock market trading and investing. Groww review highlights the platform’s commitment to empowering users to make well-informed investment decisions through educational content and resources.
Groww App Top Features
The Groww investment app has a ton of options and features for an easy user interface. The Groww app’s key features that proved useful to users include the following:
- The use of the handset’s fingerprint sensor to securely log in to the app is the very first secure and practical function, much like with current payment applications.
- Customers don’t have to waste time memorizing a username and password each time they log in thanks to this function, which is also completely secure. Additionally, it ensures that no unwanted access occurs even if the device is lost.
- Mutual funds and stocks are both options. The user can switch between the mutual funds and stocks tabs after logging in. Users may choose and manage each account independently thanks to this.
- Collections (for stocks and mutual funds), the following rail shows stocks and mutual funds based on categories like “high returns,” “top firms,” etc. This is particularly beneficial for people who are new to investing and don’t have any practical expertise. They may utilize this to start investing in a certain collection.
- In Payment options, Groww offers a variety of payment methods, including net banking and UPI payments, and also allows users to contribute funds to their wallets for investments.
- Users may monitor their investments’ performance using the app’s dashboard page.
Groww Online Account Opening
Customers of Groww have access to online account openings. It is a quick, easy, paperless procedure. There are no fees or maintenance costs associated with opening an account at Groww. You must download the Groww mobile app or register on the company website, then finish the setup, to open a trading and Demat account with Groww. Groww is a branchless online broker. Both an online account opening form and an offline account opening are not offered by the business.
Groww Trading Software (Groww Trading Platforms)
Groww allows its clients to transact online and on mobile devices. Investors may conduct transactions while switching between the Groww website and the app. The Groww app and website are best recognized for mutual fund investing because it is how Groww first began as a platform for mutual fund investments. The firm recently began offering equity trading in June 2020. The business is quickly developing with more advanced features as it works on additional products including US Stocks, Fixed Deposits, and Digital Gold to be brought to the web and mobile app in phases. There isn’t a desktop installable trading terminal available from the firm. Additionally, it doesn’t provide call and trade services.
1.Groww (Mobile App)
Groww mobile trading platform enables you to transact at any time, from any location. Customers can invest in mutual funds and stock markets for free. Groww is a secure software with a ton of features, like line and candlestick charts that display price changes, one-click buy/sell, free educational materials and videos for novice investors, comprehensive company information, etc.
2.Groww (Website version)
An exciting online trading experience is offered to users through the Groww website platform, an online web-based trading platform. Customers may use this platform to research stocks, mutual funds, and digital gold, place online orders, keep track of transactions, and invest in initial public offerings. The website provides tools, Ebooks, and blogs that offer educational and general stock market knowledge.
Advantages
The benefits of Groww are as follows. Before creating a Groww account, you must read the benefits and drawbacks. Groww’s advantages and disadvantages can help you decide if it is a good investment.
- Simple price structure Fixed brokerage of Rs 20 for each trade.
- No charge for establishing an account.
- There are no Demat AMC fees.
- instant opening of a paperless account.
- applying for an IPO online.
- Using the Direct Mutual Funds platform, you can increase your returns by 1.5%.
- the choice to invest in digital gold online.
- SME share trading is possible.
Disadvantages-
The following are the cons of Groww. Check the list of Groww drawbacks.
- Limited investment options without the ability to deal in the currency or commodities segments.
- Not a single Call and Trade service.
- Don’t offer stock recommendations, research summaries, or advice.
- Don’t offer to buy shares of SMEs (Companies listed on BSE SME and NSE Emerge platform).
- No support for branches.
- no facility for margin trading.
- No shares are being Margined.
- Not accessible are advanced order types like BO, CO, AMO, and GTT.
- In the Groww app, trailing stop-loss orders are not supported.
- Offer no NRI trading.
- There are no SME IPOs available.
How to Open a Demat Account with Groww?
- Download the Groww app and sign in. Look for the “Stocks” option, then select “finish setup.”
- To continue, select the “Open Stocks Account” option. The Groww platform has no account opening fees. You may select “See all charges” to view further costs. When you are satisfied with the prices, click “Open Stocks Account” after reviewing the
- m.To finish the KYC procedure, you must provide information about your job, income, and parents’ names. Once the details have been verified, click “Next” to move forward.
- Select your trade background from the drop-down list, then click “Next” to continue.
- The following step requires you to upload your signature. For the Demat account to be opened, your signature is required. Make your signature with dark ink on a white piece of paper. Ensure that it is easily apparent. If necessary, you can be requested to provide the same signature again, so be sure to keep track of it. To post your signature and take a photo, click the camera button. The picture can also be taken again. To proceed, select “Looks Good” if you are satisfied with the image.
- E-signing for this step is based on Aadhaar. Your Aadhaar number must be provided to the e-sign provider throughout this step to get an OTP on the registered mobile phone associated with your Aadhaar. Click “E-SIGN AOF” to sign electronically.
- Please be aware that if your mobile number is linked to your Aadhaar, the OTP will only be sent to your mobile device. Click “My mobile is not linked to my Aadhaar card” if your Aadhaar is not connected to your phone.
- You will get the Demat account opening form (AOF) at the email address you have on file. Print the form, carefully read the information, sign it where indicated, and mail it to the address shown on the computer via courier. Your account will be activated and contacted once the form has been successfully verified.
- Enter the OTP/security code issued to your mobile device if your phone number is associated with your Aadhaar, then click “Submit”.
- Click on “Sign Now” to continue after carefully reading the Demat account opening form.
- To access the NSDL electronic signature service, click here. Click the “Send OTP” button after entering your Aadhaar number or Aadhaar virtual ID here. To complete the e-signing process, enter the OTP.
- You will first see a screen that reads “Signed successfully,” followed by one that says “You may start investing today.” To begin, click the “Let’s start” button.
- The home screen will then appear. The verification of your account opening form could take a few hours. Your home screen may display a notification stating that “your papers are being processed” while we are still verifying your information.
- Within 24 hours, the verification will be finished, at which point you may begin investing.
- As part of the onboarding procedure, Groww will also send you the Client Master Report (CMR), which includes information about your BO ID or Demat account number on your registered email address.
Groww Trading Platforms
These days, online trading platforms are in high demand, particularly if you want to use a cheap broker. The organization has configured a few apps and pieces of software, as shown in the table above. Groww offers a mobile site platform, an iOS app, an Android app, and a desktop browser platform. All media have some characteristics that are somewhat similar and differ depending on the device used.
These features include real-time updates and a well-organized dashboard that shows the information of your portfolio. Additionally, any mutual fund app in India gives you the option to purchase mutual funds online. Easy installation, daily digest news, research reports, global indices, interactive charts, real-time market updates, SMS alerts, and email alerts are among the additional features.
Groww Brokerage Charges
Groww applies a commission, referred to as brokerage, to the purchase or sale of stocks made by customers. This brokerage fee is applicable to equity, commodities, and currency derivative trading conducted on the platform.In simple terms, these are the Groww brokerage charges.
Conclusion
Groww is a stock trading platform that was established in 2016 and now has more than 8 million active members. It aims to make stock trading as easy and straightforward as possible, with a focus on meeting people’s needs. With its technology-based products, Groww provides quality service in every aspect of trading. One of the best things about Groww is that it offers a brokerage plan that does not charge standard fees. This makes it easy for investors to easily buy popular stocks.
Another great thing about Groww is its excellent customer service, which is available 24 hours a day, 7 days a week. Whether you are a casual investor or a regular investor, you can count on Groww to provide you with the best service, even if you are an intraday trader. It is especially popular among younger investors in the market.
If you need Groww’s customer support team’s help, please email us [email protected] and we will get back to you as soon as possible. You can also call Groww customer care number +91-9108800604, Groww’s customer support team is ready to assist you around the clock, 24/7.