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Groww Review 2023: Demat, Brokerage, Pros & Cons, Trading Platforms

May 20, 2023April 23, 2023 by Ankit kumar
Groww Review 2023

Looking for a trustworthy and user-friendly Demat account and stock trading platform in India? ๐Ÿค” In this review, we evaluate Groww based on our personal experience with the platform. ๐Ÿ’ป To assist you in making an informed decision, In Groww review we discuss Demat Account, Brokerage fees, Trading platforms, pros, cons, and more. ๐Ÿ’ฐ

Groww is a online Discount Stock Broker based on Bangalore India that allows users to buy and sell stocks, mutual funds, and other securities. ๐Ÿ’น Groww was founded in 2016 by Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal. ๐Ÿ‘จโ€๐Ÿ’ผ The platform has gained popularity for its easy-to-use interface and low fees & Zero Commission on Mutual Funds. ๐Ÿ’ธ Groww initially focused on offering direct mutual funds, but later expanded to stocks. ๐Ÿ“ˆ Groww has grown rapidly and is now used by millions of investors in India. ๐Ÿ“ˆ๐Ÿ‡ฎ๐Ÿ‡ณ

Table of Contents

  • Overview of Groww
  • Groww Demat Account Opening and AMC Charges in 2023
  • Groww Brokerage Charges Explained
  • Groww Trading Platforms
  • Groww Pros & Cons (Advantages & Disadvantages)
  • How to Open Groww Account Online ?
  • Groww’s Licenses & Registrations
  • Groww Review Final Thoughts
  • Frequently Asked Questions (FAQs)
  • Also Read our in depth Reviews on other Stock Brokers

Overview of Groww

Company Name ๐Ÿ’ปGroww ๐Ÿ’ฐ
Year of Incorporation ๐Ÿ“…2016 ๐Ÿ—“
Broker Type ๐Ÿ’ณOnline Discount Stock Broker ๐Ÿ’ต
Headquarters ๐Ÿ Bangalore, India ๐ŸŒ
Products/Services ๐Ÿ’ฐStocks, Mutual Funds, and other Investment products such as equity, derivatives, commodities, currency, and bonds. ๐Ÿ’ธ
Founders ๐Ÿง‘โ€๐ŸŽ“Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal ๐Ÿ‘จโ€๐Ÿ’ป
Features ๐Ÿ“Easy-to-use Interface, Low Fees, and Zero Commission on Mutual Funds ๐Ÿ’ณ

Groww Demat Account Opening and AMC Charges in 2023

Groww provides a Free Demat Account opening process that is completely online and takes less than 15 โฑ๏ธ minutes to complete. There are no account opening fees, and it has no Annual Maintenance Charges (AMC) for life. ๐Ÿ’ฐ.

TypeAccount Opening ๐Ÿ“ (One Time)AMC Charges ๐Ÿ’ฐ (Yearly)
Trading Account ๐Ÿ“ˆZero ๐Ÿ’ธZero 0๏ธโƒฃ
Demat Account ๐Ÿ“ŠZero ๐Ÿ’ธโ‚น0 ( AMC For Life) ๐Ÿ†“

Groww Brokerage Charges Explained

Groww – Equity Delivery & Intraday Charges

For equity delivery & intraday Groww’s brokerage is charged at Rs 20 per executed order or 0.05% of the order value (whichever is lower).

ChargesEquity DeliveryEquity Intraday
Brokerage ๐Ÿ’ฐโ‚น 20 / Executed Order Or 0.05% (Whichever Is Lower)๐Ÿ’ธโ‚น 20 / Executed Order Or 0.05% (Whichever Is Lower)๐Ÿ’ธ
STT๐Ÿ“Š0.1% ON BOTH Buy & Sell๐Ÿ“ˆ0.025% On the Sell-side๐Ÿ“‰
Transaction / Turnover charges๐Ÿ’นNSE : 0.00325% | BSE 0.00375%๐Ÿ’ฑNSE : 0.00325% | BSE 0.00375%๐Ÿ’ฑ
SEBI Charges๐Ÿ›๏ธ10 Rs/Crore๐Ÿ’ผ10 Rs/Crore๐Ÿ’ผ
GST๐Ÿงพ18% on (Brokerage + Transaction Charges + DP + SEBI Charges)๐Ÿ’ณ18% on (Brokerage + Transaction Charges + SEBI Charges)๐Ÿ’ณ
Stamp Duty๐Ÿ“œ0.015% Of Turnover Value (Buyer)๐Ÿค0.003% Of Turnover Value (Buyer)๐Ÿค
DP Charges๐Ÿ“Šโ‚น 13.5 / Scrip Only On Sell๐Ÿ’ฐNo Charges๐Ÿ‘Œ

Groww – Futures & Options Charges

For Futures & Options the brokerage Fee charged Flat at Rs.20/ Executed order.

ChargesEquity Future ๐Ÿ’ฐEquity Options ๐Ÿ’ฐ
Brokerage ๐Ÿ’ตโ‚น 20 / Executed Order ๐Ÿ’ตFlat โ‚น 20 / Order ๐Ÿ’ต
STT ๐Ÿ’ฐ0.0125% on the Sell-side ๐Ÿ’ฐ0.0625% on the Sell-side (ON PREMIUM) ๐Ÿ’ฐ
Transaction / Turnover charges ๐Ÿ’ฐNSE : 0.0019% On Total Turnover Value ๐Ÿ’ฐNSE : 0.05% on Premium ๐Ÿ’ฐ
SEBI Charges ๐Ÿ’ตRs 10 /Crore ๐Ÿ’ตRs 10/Crore ๐Ÿ’ต
GST ๐Ÿ’ฐ18% on (Brokerage + Transaction Charges + SEBI Charges) ๐Ÿ’ฐ18% on (Brokerage + Transaction Charges + SEBI Charges) ๐Ÿ’ฐ
Stamp Duty ๐Ÿ’ฐ0.002% Of Turnover Value ๐Ÿ’ฐ0.003% On Premium ๐Ÿ’ฐ

Groww Trading Platforms

Groww offers user-friendly and secure trading platform ๐Ÿ“ˆ that make trading & Investing Convenient for its Customers. With Groww’s trading tools, you can invest in various instruments such as Stocks ๐Ÿ“ˆ, Mutual Funds ๐Ÿ’ฐ, Gold ๐Ÿ†, US stocks ๐Ÿ‡บ๐Ÿ‡ธ, ETFs ๐Ÿ“Š & FDs ๐Ÿ’ต through a single platform.

Groww Website

Grow Website Trading Platform

Their website, Groww.in ๐ŸŒ, provides an easy-to-understand interface that is loaded with explanations. It offers financial reports of listed Indian corporations ๐Ÿข and blogs with instructional and educational content ๐Ÿ“š. You can research and contrast stocks and mutual funds to make a better investment choice ๐Ÿ’ก. You can even apply for an IPO online ๐Ÿ“.

Groww Mobile App

Groww Mobile App

The Groww App ๐Ÿ“ฑ is a mobile application that is similar to their web platform. It enables you to invest in Stocks ๐Ÿ“ˆ, MFs ๐Ÿ’ฐ, Gold ๐Ÿ†, US stocks ๐Ÿ‡บ๐Ÿ‡ธ, ETFs ๐Ÿ“Š & FDs ๐Ÿ’ต with just a few clicks. The application is easy to understand, available for both iOS ๐ŸŽ and Android ๐Ÿค– mobile platforms, and has an easy-to-use user interface.

One of the best features of the Groww app (available for Android ๐Ÿค– and iOS ๐ŸŽ devices.) is that it provides access to over 5000 direct mutual funds ๐Ÿ’ฐ. You can even switch directly to mutual funds ๐Ÿ’ก. The app uses a candlestick chart ๐Ÿ“Š to follow the stock movement, making it easy for you to monitor your investments ๐Ÿง.

Groww Pros & Cons (Advantages & Disadvantages)

Groww Review 2023: Demat, Brokerage, Pros & Cons, Trading Platforms

Pros

  • Zero Commission on Mutual Funds Investments
  • No Account Opening & AMC charges for Life
  • Low brokerage charges – attractive for traders who trade frequently
  • You Can Also Invest in US Stocks With Groww At Zero Charges
  • Simple and user-friendly interface
Groww Review 2023: Demat, Brokerage, Pros & Cons, Trading Platforms

Cons

  • No Research And Advisory Services Are Available
  • Commodity and Currency trading not Available in Groww
  • 3 in 1 Account Not Available
  • Advanced Orders Placements is not Available in Web & App.

Customer Reviews and Ratings of Groww

Account Opening Process9.2 / 10
Customer Support8.5 / 10
Investment Options9.3 / 10
Trading Platforms8.8 / 10
Mobile App User Experience8.8 / 10
Education and Resources6.9 / 10
Overall Rating8.54 / 10
Star Ratingโ˜…โ˜…โ˜…โ˜…โ˜…

How to Open Groww Account Online ?

You can follow these steps to open a Groww Demat & Trading Account online,

  1. ๐Ÿ“ฒ Download the Groww App and log in.
  2. Navigate to the ‘Stocks’ tab and click on ‘complete setup’.
  3. ๐Ÿ’ฐ Click on ‘Open Stocks Account‘ Account Opening Charges in Groww is Zero.
  4. ๐Ÿ“ Complete the KYC process by providing details about your PAN, occupation, income, and parents’ names.
  5. ๐Ÿ“Š Select your Trading Experience from list and click ‘Next’.
  6. ๐Ÿ–‹๏ธ Upload your signature on a plain white sheet of paper. Ensure that it is clearly visible and click on ‘Looks Good‘ to proceed.
  7. ๐Ÿ” Use the Aadhaar based e-sign process by submitting your Aadhaar number and receiving an OTP on your registered mobile number. Click on ‘E-SIGN’ to proceed.
  8. ๐Ÿ“ฒ If mobile number is linked to your Aadhaar, enter the OTP/security code sent to your mobile and click ‘Submit’.
  9. ๐Ÿ“œ Carefully read the Demat account opening form and click ‘Sign Now’.
  10. ๐Ÿ”‘ Enter your Aadhaar number or Aadhaar virtual ID, and complete the e-sign process at NSDL Signing Platform by entering the OTP sent to your registered mobile number.
  11. โœ… You will see a success screen that says ‘Signed successfully’, which means account opening process is completed successfully

โณPlease wait for the verification process to be completed within 24 hours. Once your KYC is verified by the Groww backend team, you will receive an email and text message confirming that your Demat account with Groww has been successfully opened. You will Also Get Your 16 Digits Demat account Number

Groww’s Licenses & Registrations

MemberRegistration/License
BSECM, F&O, MF Distributor
NSECM, F&O
SEBI Registration No.INZ000208032
BSE Distributor Code Number11724
AMFI Registration No.111686
CDSL Registration No.IN-DP-417-2019

Groww Review Final Thoughts

๐ŸŒฑ Groww is an investment platform that offers a variety of investment options: stocks ๐Ÿ“ˆ, mutual funds ๐Ÿ“Š, gold ๐Ÿช™, US stocks ๐Ÿ‡บ๐Ÿ‡ธ, ETFs ๐Ÿ“‰, and FDs ๐Ÿ’ฐ.

The Groww App & Web Platform provides well-drafted educational content ๐Ÿ“š to help investors learn about stocks and mutual funds.

Groww charges zero brokerage on Mutual Funds and offers minimal brokerage charges on trading through the platform ๐Ÿ’ธ.

It provides a seamless online account opening procedure with no physical paperwork involved ๐Ÿ“ฒ.

Groww provides financial reports of listed Indian corporations ๐Ÿฆ, blogs with instructional and educational content ๐Ÿ“ฐ, and the opportunity to research and contrast stocks and mutual funds to make a better investment choice ๐Ÿค”.

๐ŸŒŸ Groww is recommended for investors who are looking for a user-friendly investment platform that offers a variety of investment options, educational content, and zero brokerage on equity delivery ๐Ÿ™Œ.

It is also recommended for traders who are looking for minimal brokerage charges on trading through the platform and on-the-go trading facilities ๐Ÿ“ˆ๐Ÿ“ฑ.

๐Ÿ‘‰ Open Groww Account ๐Ÿš€

Frequently Asked Questions (FAQs)

What is Groww?

Groww is a leading online investment App that offers a range of investment options, including stocks, mutual funds, ETFs, gold, and US stocks.

is Groww a trusted Platform?

Yes, Groww can be trusted as it is a SEBI registered broker, a member of NSE and BSE, and has all the required certifications to do its business.

Does Groww charge any fees or commissions?

Groww charges minimal brokerage fees on trading, and offers free equity delivery. There are additional charges for GST and Auto Square Off.

Can I invest in international stocks through Groww?

Yes, With Groww you can invest in US stocks and ETFs.

What types of mutual funds are available on Groww ?

Groww offers both Direct and Regular plans in mutual funds, depending on the scheme.

Can I apply for IPOs through Groww?

Yes, Groww provides the option to apply for IPOs online by UPI Mode

Is there a minimum investment amount required on Groww?

No, there is no minimum investment amount required on Groww.

What is the account opening procedure for Groww?

Groww offers online account opening procedure with no physical paperwork required. You Can Open your account with Aadhaar, PAN & Signing.

Also Read our in depth Reviews on other Stock Brokers

Stock BrokerReview
UpstoxRead Review
ZerodhaRead Review
Angel BrokingRead Review
FyersRead Review

Disclaimer: The information in this article is only meant to be educational and informative. It should not be taken as financial advice. Investing in the stock market comes with risks. Before making any investment decisions, readers should carefully think about their own investment goals and how much risk they are willing to take. Before making any investment decisions, the reader should talk to a qualified financial advisor.

4.6/5 - (54 votes)
Categories Demat Account, Reviews, Stock Brokers Tags Groww, groww review, Stock Broker Reviews

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