Looking for a trustworthy and user-friendly Demat account and stock trading platform in India? ๐ค In this review, we evaluate Groww based on our personal experience with the platform. ๐ป To assist you in making an informed decision, In Groww review we discuss Demat Account, Brokerage fees, Trading platforms, pros, cons, and more. ๐ฐ
Groww is a online Discount Stock Broker based on Bangalore India that allows users to buy and sell stocks, mutual funds, and other securities. ๐น Groww was founded in 2016 by Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal. ๐จโ๐ผ The platform has gained popularity for its easy-to-use interface and low fees & Zero Commission on Mutual Funds. ๐ธ Groww initially focused on offering direct mutual funds, but later expanded to stocks. ๐ Groww has grown rapidly and is now used by millions of investors in India. ๐๐ฎ๐ณ
Overview of Groww
| Company Name ๐ป | Groww ๐ฐ |
| Year of Incorporation ๐ | 2016 ๐ |
| Broker Type ๐ณ | Online Discount Stock Broker ๐ต |
| Headquarters ๐ | Bangalore, India ๐ |
| Products/Services ๐ฐ | Stocks, Mutual Funds, and other Investment products such as equity, derivatives, commodities, currency, and bonds. ๐ธ |
| Founders ๐งโ๐ | Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal ๐จโ๐ป |
| Features ๐ | Easy-to-use Interface, Low Fees, and Zero Commission on Mutual Funds ๐ณ |
Groww Demat Account Opening and AMC Charges in 2024
Groww provides a Free Demat Account opening process that is completely online and takes less than 15 โฑ๏ธ minutes to complete. There are no account opening fees, and it has no Annual Maintenance Charges (AMC) for life. ๐ฐ.
| Type | Account Opening ๐ (One Time) | AMC Charges ๐ฐ (Yearly) |
|---|---|---|
| Trading Account ๐ | Zero ๐ธ | Zero 0๏ธโฃ |
| Demat Account ๐ | Zero ๐ธ | โน0 ( AMC For Life) ๐ |
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).
| Charges | Equity Delivery | Equity Intraday |
|---|---|---|
| Brokerage ๐ฐ | โน 20 / Executed Order Or 0.05% (Whichever Is Lower)๐ธ | โน 20 / Executed Order Or 0.05% (Whichever Is Lower)๐ธ |
| STT๐ | 0.1% ON BOTH Buy & Sell๐ | 0.025% On the Sell-side๐ |
| Transaction / Turnover charges๐น | NSE : 0.00325% | BSE 0.00375%๐ฑ | NSE : 0.00325% | BSE 0.00375%๐ฑ |
| SEBI Charges๐๏ธ | 10 Rs/Crore๐ผ | 10 Rs/Crore๐ผ |
| GST๐งพ | 18% on (Brokerage + Transaction Charges + DP + SEBI Charges)๐ณ | 18% on (Brokerage + Transaction Charges + SEBI Charges)๐ณ |
| Stamp Duty๐ | 0.015% Of Turnover Value (Buyer)๐ค | 0.003% Of Turnover Value (Buyer)๐ค |
| DP Charges๐ | โน 13.5 / Scrip Only On Sell๐ฐ | No Charges๐ |
Groww – Futures & Options Charges
For Futures & Options the brokerage Fee charged Flat at Rs.20/ Executed order.
| Charges | Equity Future ๐ฐ | Equity Options ๐ฐ |
|---|---|---|
| Brokerage ๐ต | โน 20 / Executed Order ๐ต | Flat โน 20 / Order ๐ต |
| STT ๐ฐ | 0.0125% on the Sell-side ๐ฐ | 0.0625% on the Sell-side (ON PREMIUM) ๐ฐ |
| Transaction / Turnover charges ๐ฐ | NSE : 0.0019% On Total Turnover Value ๐ฐ | NSE : 0.05% on Premium ๐ฐ |
| SEBI Charges ๐ต | Rs 10 /Crore ๐ต | Rs 10/Crore ๐ต |
| GST ๐ฐ | 18% on (Brokerage + Transaction Charges + SEBI Charges) ๐ฐ | 18% on (Brokerage + Transaction Charges + SEBI Charges) ๐ฐ |
| Stamp Duty ๐ฐ | 0.002% Of Turnover Value ๐ฐ | 0.003% On Premium ๐ฐ |
Groww Trading Platforms
Groww offers user-friendly and secure trading platform ๐ that make trading & Investing Convenient for its Customers. With Groww’s trading tools, you can invest in various instruments such as Stocks ๐, Mutual Funds ๐ฐ, Gold ๐, US stocks ๐บ๐ธ, ETFs ๐ & FDs ๐ต through a single platform.
Groww Website
Their website, Groww.in ๐, provides an easy-to-understand interface that is loaded with explanations. It offers financial reports of listed Indian corporations ๐ข and blogs with instructional and educational content ๐. You can research and contrast stocks and mutual funds to make a better investment choice ๐ก. You can even apply for an IPO online ๐.
Groww Mobile App
The Groww App ๐ฑ is a mobile application that is similar to their web platform. It enables you to invest in Stocks ๐, MFs ๐ฐ, Gold ๐, US stocks ๐บ๐ธ, ETFs ๐ & FDs ๐ต with just a few clicks. The application is easy to understand, available for both iOS ๐ and Android ๐ค mobile platforms, and has an easy-to-use user interface.
One of the best features of the Groww app (available for Android ๐ค and iOS ๐ devices.) is that it provides access to over 5000 direct mutual funds ๐ฐ. You can even switch directly to mutual funds ๐ก. The app uses a candlestick chart ๐ to follow the stock movement, making it easy for you to monitor your investments ๐ง.
Groww Pros & Cons (Advantages & Disadvantages)
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
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 Process | 9.2 / 10 |
| Customer Support | 8.5 / 10 |
| Investment Options | 9.3 / 10 |
| Trading Platforms | 8.8 / 10 |
| Mobile App User Experience | 8.8 / 10 |
| Education and Resources | 6.9 / 10 |
| Overall Rating | 8.54 / 10 |
| Star Rating | โ โ โ โ โ |
How to Open Groww Account Online ?
You can follow these steps to open a Groww Demat & Trading Account online,
- ๐ฒ Download the Groww App and log in.
- Navigate to the ‘Stocks’ tab and click on ‘complete setup’.
- ๐ฐ Click on ‘Open Stocks Account‘ Account Opening Charges in Groww is Zero.
- ๐ Complete the KYC process by providing details about your PAN, occupation, income, and parents’ names.
- ๐ Select your Trading Experience from list and click ‘Next’.
- ๐๏ธ Upload your signature on a plain white sheet of paper. Ensure that it is clearly visible and click on ‘Looks Good‘ to proceed.
- ๐ 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.
- ๐ฒ If mobile number is linked to your Aadhaar, enter the OTP/security code sent to your mobile and click ‘Submit’.
- ๐ Carefully read the Demat account opening form and click ‘Sign Now’.
- ๐ 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.
- โ You will see a success screen that says ‘Signed successfully’, which means account opening process is completed successfully
โณPlease 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
| Member | Registration/License |
|---|---|
| BSE | CM, F&O, MF Distributor |
| NSE | CM, F&O |
| SEBI Registration No. | INZ000208032 |
| BSE Distributor Code Number | 11724 |
| AMFI Registration No. | 111686 |
| CDSL Registration No. | IN-DP-417-2019 |
Groww Review Final Thoughts
๐ฑ Groww is an investment platform that offers a variety of investment options: stocks ๐, mutual funds ๐, gold ๐ช, US stocks ๐บ๐ธ, ETFs ๐, and FDs ๐ฐ.
The Groww App & Web Platform provides well-drafted educational content ๐ 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 ๐ธ.
It provides a seamless online account opening procedure with no physical paperwork involved ๐ฒ.
Groww provides financial reports of listed Indian corporations ๐ฆ, blogs with instructional and educational content ๐ฐ, and the opportunity to research and contrast stocks and mutual funds to make a better investment choice ๐ค.
๐ 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 ๐.
It is also recommended for traders who are looking for minimal brokerage charges on trading through the platform and on-the-go trading facilities ๐๐ฑ.
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 Broker | Review |
|---|---|
| Upstox | Read Review |
| Groww | Read Review |
| Angel One | Read Review |
| Fyers | Read Review |
| Upstox | Read Review |
| Paytm Money | Read Review |
| Zerodha | Read 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.