Groww Review: Groww is a Bangalore-based brokerage firm.
It offers online flat-fee discount brokerage services so as to invest in equities, IPOs, and direct mutual funds.
It is a brand name for Nextbillion Technology Private Limited, which is a SEBI registered stockbroker and also a member of NSE as well as BSE.
What is Groww?
- Groww was established in 2016 and started as a direct mutual fund investment platform.
- In the mid-year of 2020, it expanded and began offering equity trading.
- The company, along with that, also offers the following as an investment option for its customers:
Don’t forget to check: 5 The Best Mutual Fund Apps in India
Key highlights of Groww:
The main highlights of the Groww broker firm are as follows:
- The maximum brokerage charged per trade is Rs. 20.
- Zero commission on direct mutual funds.
- It also provides investment in US stocks, digital gold, and corporate FDs.
- It has a feature to switch from a regular mutual fund to a direct mutual fund.
- It also has customer awareness through educative as well as informative blogs and eBooks.
- Instant and paperless online account opening.
The brokerage plan for Groww is as follows:
|Trading Segment||Brokerage Charges|
|Equity Delivery||RS. 20 per trade (or 0.05%, whichever is lower)|
|Equity Intraday||RS. 20 per trade (or 0.05%, whichever is lower)|
|Equity F&O||RS. 20 per trade|
- Here, you are also required to pay for other transactions as well as regulatory charges, Demat charges, and other charges in addition to the minimal brokerage.
- Other charges that Groww levies are as follows:
- Account Square Off Charges: Rs. 50.
Groww Online Account Opening:
- The company offers online account openings to its members.
- This process is simple, instantaneous, and paperless.
- Groww’s account opening is free and also has zero maintenance charges.
- It is an online broker with no branches.
Groww Trading Software:
- Groww provides its customers with the option to trade via the web and mobile.
- A trader at Groww can transact seamlessly by switching between the Groww App and the website.
- The company does not have an installable trading terminal on your personal desktop.
- It will also not offer call and trade services.
- The company initially started as a mutual fund investment platform, but in June 2020, it launched equity trading.
- The company is also working on new products such as US stocks, digital gold, and fixed deposits to be added to the web application.
- The following are the two trading programs provided by Groww:
Also Check: How to Open a Demat Account in SBI?
Groww Mobile App:
- It will allow you to trade at any time from anywhere.
- It is also offered free of charge to its customers to invest in equity and mutual funds.
- It is a very safe and secure application with a host of features, such as the following:
Groww Website Version:
- The Groww website platform is an online, web-based trading platform.
- It provides customers with an enriching online trading experience.
- This platform will allow its clients to explore the following:
The website also has resources, eBooks, and blogs that will provide educational and general information on the stock markets.
Must Know: Top 7 Best Stock Market App
Pros and Cons of Groww:
The main advantages of Groww are as follows:
- A simple pricing model
- Direct mutual fund platform that will help you earn an extra 1.5% returns
- Zero account opening fee
- Zero Demat AMC charges
- Online IPO application
- Trading in SME shares is available.
- The option to invest online in digital gold
- Instant, paperless account opening.
The main disadvantages of Groww are as follows:
- Does not provide stock tips, research reports, or recommendations.
- Do not offer to invest in SME shares, only trading is permitted.
- Advanced order types such as BO, CO, AMO, and GTT are not available.
- Limited investment options with no other options to trade in commodity and currency segment
- No call and trade services
- No branch support.
- No margin trading facility
- No margin against shares.
- Trailing stop loss orders are not available here.
- It does not offer NRI trading.
- SME IPOs are also not available.
We hope the above blog has given you an idea of the Groww reviews.
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